Live & Die by the sword....

[G-Man]

well i wanted to see which of the (coughs) double fibs were the most useful...

I have to say that this was part of the course that I was most sceptical about. If you take the fib levels, double fib levels, fib counts etc. you could basically come up with any number or level you wanted, a la Carol Vorderman on countdown.

Shhh, said to much already.

G-Man

 

[FetteredChinos]

nah, ******** to that G-man

i have tried something similar, and if you use anything other than major monthly highs/lows, you end up with virtually every day being a turning point....unless of course it ties in with the Delta turn dates.. which we of course know to be highly, err, reliable..

how on earth you trade that, i dont know..

does Steve's work include some sample predictions of major turns for the next few years, or again do you have to work these out yourself?

you know, for £2k, i would expect something more than a re-hashing of previous ideas that have been around since Gann (and probably before) and a glossy presentation.

 

[G-Man]

yup i was.. was stopped out at +39 , still in 2nd trade of the day, short from 1.7784, stop at 1.7816 currently.

dont worry about the MM review though. i was just after an impartial gist really, and i get that from your tone already. fibs are useful, but only as confirmaton. trying to trade blindly of fib retracement levels is opening a huge can of whoop-ass.

This was kinda my second criticism really, in that there was not really enough detail of how to trade the information that was provided by the MM. It may be a case of saying, 'We knew price was going up to here because of X, Y and Z', but then not stating that it would be a good idea to short, or short earlier to ensure a trade with a stop above, or wait for confirmation of a high/low being formed before entering a trade etc.

am interested in automated FX trading though.. u using an API? or something like fxcm and their automated services?

FC

As for the automated stuff, have been using InterbankFX as a broker who run the MT3 platform. This is apparently being upgraded as from today with MT4, which is supposed to have more accurate backtesting abilities. Still in the process of forward testing several trading concepts, although one based on some ideas from Elder seem to be doing the best at the moment, (save for todays -36 current short on EUR/$).

G-Man

 

[G-Man]

nah, ******** to that G-man


does Steve's work include some sample predictions of major turns for the next few years, or again do you have to work these out yourself?

Nothing so simple unfortunately FC.

The only quote I got from that Kevin fella was that cable was going to 240. Looks like a good but ATM.

There is a user group, but it seemed to be updated so infrequently I stopped looking, and the only real currency comments related to the EUR.

G-Man

Incidentally, I am very interested in your random entry concept. I thought about running something similar last year on a micro account, so only $0.10 a pip. Thought it would be a good test to see if entry/exit criteria are really better than random once you kick in some sensible MM. I'll add it to my to do list.

 

[FetteredChinos]

thanks for the replies G-man..

much appreciated.. am tempted to use MT4 myself too, if this random entry proves remotely better than random. accross multiple uncorrelated pairs i can hear the kerching's already... :cheesy:

incidentally, are the orders set by MT4 (stops limits, trail stops etc) native on the markets, or do you require MT4 to be running 24 hours a day to ensure that the trades run according to plan?

fc

 

[G-Man]

Once the platform had open trades and stops and limits are sent to he broker they sit with the broker as usual, but you need to have the platform, expert and PC/internet running all the time if you want new new orders to be created and existing ones updated.

As I sufferred this week with a lost internet for 4 hours on Tue and power cut on Wed it makes you think more about your setup. Shouldn't have been too much of a problem as I could use dial-up backup for connection, but the battery in my laptop was knackered, so no juice, no trade. New battery ordered pronto.

G-Man

 

[FetteredChinos]

interesting.. so for example, let say you had a trailing stop/bollinger band/any other moving exit, and the power went down. When you powered back up, would MT then re-adjust the order where it should be currently, or does it put a spanner in the works..

im tempted to do the same. let a PC fund my life while i whack balls at the driving range

 

[FetteredChinos]

do you think it might be building for something soon?

 

[FetteredChinos]

looks like it went for the down option

 

[JillyB]

Possible breakout - northerly direction?

Do I get a biccy if I'm right?

 

[FetteredChinos]

lol.. i seem to have created a biscuit obsession on here in the past few days..

cant beat a good jaffa cake.

has broken the lower line on the triangle/wedge/(insert pattern name here) and this would imply a bearish continuation. but with some big old data out at 1445 and 1500 we could have some sparks..

 

[SvenFoster]

has broken the lower line on the triangle/wedge/(insert pattern name here) and this would imply a bearish continuation. but with some big old data out at 1445 and 1500 we could have some sparks..

Man that coin is good... mine doesn't seem to have any of the functionallity of yours...not even the sparks.

another great coin day so far..

 

[G-Man]

If there ability to update is removed, via power cut/internet failure/PC failure/disenabling the experts or whatever, any stops or limits defined prior to that event will be held with the broker.

Any updates to these levels that your expert dictates will not take effect while the disconnect is in effect. When the connection is fully functioning again any updates, whether that is to a trailing stop, order that should have been opened/closed will be effected, but this will be att he current price. This may be better or worse that the price when the signal was given, but the platform plays catch-up.

Been pretty reliable so far, and IBFX offer unlimited numbers of demo accounts so you can play away to your hearts content.

G-Man

 

[FetteredChinos]

thanks G-spot, i'll do some investigation into MT et al.

 

[FetteredChinos]

ah, the lucky coin never fails....

1.7765 and dropping

 

[SvenFoster]

time to move your stop i believe..

 

[FetteredChinos]

yup, 1.7788 and falling

 

[SvenFoster]

it really only begs the question "where will you retire to?"

 

[FetteredChinos]

well, ive heard good things about Bognor Regis...

 

[SvenFoster]

well, ive heard good things about Bognor Regis...

nice..

...I hope to make enough money to live out my life long dream of buying one of those electric roadsweepers(the green ones mind with a seat on the back) and spend my days keeping the streets clean, like a superhero of sorts.

"who was that masked green blur, that carefully manovered around that parambulator "

"wherever there is sh*te i'll be there."