Arbu does Free Proprietary Trader Training

This is a discussion on Arbu does Free Proprietary Trader Training within the Trading Journals forums, part of the Reception category; 3rd February OIl again at new highs so bought some more in accordance with Way of the Turtle. Listened to ...

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Old Feb 4, 2011, 8:03pm   #17
Joined Jul 2005
Re: Arbu does Free Proprietary Trader Training

Arbu started this thread 3rd February

OIl again at new highs so bought some more in accordance with Way of the Turtle.

Listened to ECB press conference. Figured that there wasn't that much new that JCT could say - we remain vigilant regarding inflation etc. So I didn't think prices would move much and didn't take a position before the conference. When he said "Our monetary analysis indicates that inflationary pressures should remain contained" I construed this as a statement of something that the ECB needed to do rather than a prediction about what would happen. So I didn't see its significance. When the Euro fell against the dollar I saw this as a kneejerk reaction and when the technicals looked good I bought. But the Euro carried on down and I had to close out for a £20 loss.
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Old Feb 4, 2011, 8:05pm   #18
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Re: Arbu does Free Proprietary Trader Training

Arbu started this thread 4th February


Oil and GBP not looking so strong. But still with them because Way of the Turtle says you've got to be willing to take a loss. Am now aware that Richard Dennis lost a lot of money in late 80s and am feeling less comfortable about following this.

£380 down in real money in two weeks' trading.
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Old Feb 4, 2011, 8:07pm   #19
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Re: Arbu does Free Proprietary Trader Training

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Quote:
Originally Posted by wackypete2 View Post
Good luck with your journal and trading!



That's the reason you learn for yourself!!
Analysts are mainly salesman, many don't even trade.

Peter
Thanks. It did cross my mind to ask what if there's actually a drop in GDP, so I suppose that's encouraging. I need to think through these unexpected scenarios more.
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Old Feb 16, 2011, 4:35pm   #20
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Re: Arbu does Free Proprietary Trader Training

Arbu started this thread Oil got stopped out. Now down £575 on my trading.

Got contacted by gamma on this forum and had a chat with him about forex trading. He seemed very enthusiastic to work with me in developing Expert Advisors in MT4 to identify resistance and support levels. He said he was making money trading forex and had been trading it for about ten years. It sounded like there was scope for a mutually beneficial arrangement - him giving me the benefit of his experience and me doing some coding. I produced an initial EA, sent it to him and now he seems to have gone completely incommunicado - either it was so good he has no need for anything further or it was so bad he's given up on me. Of course there may be another reason.

Seem to be falling into a bit of a trap of spending too much time looking into and developing trading strategies and not actually doing any trades.
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Old Feb 16, 2011, 5:09pm   #21
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Originally Posted by Arbu View Post
Oil got stopped out. Now down £575 on my trading.

Got contacted by gamma on this forum and had a chat with him about forex trading. He seemed very enthusiastic to work with me in developing Expert Advisors in MT4 to identify resistance and support levels. He said he was making money trading forex and had been trading it for about ten years. It sounded like there was scope for a mutually beneficial arrangement - him giving me the benefit of his experience and me doing some coding. I produced an initial EA, sent it to him and now he seems to have gone completely incommunicado - either it was so good he has no need for anything further or it was so bad he's given up on me. Of course there may be another reason.

Seem to be falling into a bit of a trap of spending too much time looking into and developing trading strategies and not actually doing any trades.
Hi Arbu,
Apologies for not being in touch.
I received your E.A and was having problems with installing it ( I am completlely at a loss with MT4)
I have asked a fellow trader who lives near me to help me install it. As you mentioned ,you should be trading and not writing ,so did not want to disturb you, or come across as mt4 fool.I am just waiting for him to get back to me.
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Old Feb 23, 2011, 9:52am   #22
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Re: Arbu does Free Proprietary Trader Training

Arbu started this thread Went long on shares in Avocet Mining on Monday after a bit of research and noting that their annual financial statements were due out on Tuesday and that the share price was doing well on Monday.

Results on Tuesday showed a tripling of pretax profits! Fantastic, except that the share price went down (slightly). Not sure why. Closed out for another loss.
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Old Feb 23, 2011, 12:31pm   #23
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Re: Arbu does Free Proprietary Trader Training

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Originally Posted by Arbu View Post
4th February


Oil and GBP not looking so strong. But still with them because Way of the Turtle says you've got to be willing to take a loss. Am now aware that Richard Dennis lost a lot of money in late 80s and am feeling less comfortable about following this.

£380 down in real money in two weeks' trading.
Hi Arbu, interesting blog.

I presume you've read "Way of the Turtle"? The system is a complete and 100% mechanical trading system.. you've mentioned it a couple of times as though you're cherry picking bits from the book to apply to your discretionary trading. This isn't going to work.. you either follow all of the rules, or none of them.
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Thanks! The following members like this post: JRP2891 , wackypete2
Old Jul 6, 2011, 12:25pm   #24
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Re: Arbu does Free Proprietary Trader Training

Arbu started this thread
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Originally Posted by meanreversion View Post
Hi Arbu, interesting blog.

I presume you've read "Way of the Turtle"? The system is a complete and 100% mechanical trading system.. you've mentioned it a couple of times as though you're cherry picking bits from the book to apply to your discretionary trading. This isn't going to work.. you either follow all of the rules, or none of them.
Had a break, now back. I think I need to take a closer look at the Way of the Turtle Rules including doing some backtesting.

You're right in what you say anyway. I sold the FTSE today because it broke below several recent lows. It went down, up, then down. I closed out for a profit thinking it would go up again and I'd get in again. But it has carried on down so I've missed out on profits. I wasn't really sticking with my original plan, which was to stick with the trade for several days. Instead I started thinking more about range trading.
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