Forex trading live calls and set ups

[trendie]

the thing about backtesting is that results tend to be based on taking all the signals.
backtesting also is based on knowing the end-result of a trade.

I would add some fudge factor, such as if my system said I expect to make 100 pips, I should consider forward-testing to get me about 70-80 pips of the 100, as the real-world, unless automatic, you are trading as much with your gut as rules, so you will occasionally drop out with 50, only to see you could have made 70, etc.

 

[bedsit]

I'm out of ej for -22 as well,

daft really as it stalled for long enough for me to get out with anything between +10-20 but I seem to have been a bit of a zombie today.

EJ has been a real pain for the last two days. Short I opened yesterday morning hasn't hit stop or target as yet - had enough of it - closed it at +20.

PS My target was 11133 (not hit as yet)

 

[quaid]

I dont make live calls (for good reason), but trendie's question to LF about the stops being too tight has incited interest. I would have wanted to be a position trader. And for the last week or so tried doing day trading to see if I can. I have entered in the wrong places, and down by 100+ pips over the last few days in the real account. On the demo account I am doing rather well. Casually entered EUR/USD short at 1.3373 - and been riding it down all day. However, in the real account I opened 3-4 positions (all shorts) and was stopped out. Apologies, this is the wrong forum - but had to vent and looking for feedback!

 

[JER08]

I dont make live calls (for good reason), but trendie's question to LF about the stops being too tight has incited interest. I would have wanted to be a position trader. And for the last week or so tried doing day trading to see if I can. I have entered in the wrong places, and down by 100+ pips over the last few days in the real account. On the demo account I am doing rather well. Casually entered EUR/USD short at 1.3373 - and been riding it down all day. However, in the real account I opened 3-4 positions (all shorts) and was stopped out. Apologies, this is the wrong forum - but had to vent and looking for feedback!

Large stops are essential for swing/position trading, as well as the ability to read the markets correctly.( Perhaps we're discussing it on the wrong thread, LF will kick us off in a minute)

 

[quaid]

Jero8 - I think I have become alright with regards to reading the market. Its the excitement and stops that are killing me.
Yes, wrong thread for sure. It was just interesting to see trendie bring that up. Apologies LF.

 

[Vaco]

EJ has been a real pain for the last two days. Short I opened yesterday morning hasn't hit stop or target as yet - had enough of it - closed it at +20.

PS My target was 11133 (not hit as yet)

Indeed it has,

I have been looking on at eur/usd with envy wondering if I should be trading that instead.

 

[wackypete2]

( Perhaps we're discussing it on the wrong thread, LF will kick us off in a minute)

 

[Lord Flasheart]

the thing about backtesting is that results tend to be based on taking all the signals.
backtesting also is based on knowing the end-result of a trade.

I would add some fudge factor, such as if my system said I expect to make 100 pips, I should consider forward-testing to get me about 70-80 pips of the 100, as the real-world, unless automatic, you are trading as much with your gut as rules, so you will occasionally drop out with 50, only to see you could have made 70, etc.

Absolutely, I included the fudge factor(great word for it). The only factor I couldnt include is of course my emotions on exit and deciding to leave trades alone.I left a huge trade on the table today. All trades were calculated as taking 1/2 off at 1:1 and rest of at 1:2. That ishow I got the figure. Clearly in the real world its not always possible to stick to that. In my euro trade today I got our early,good job it saved me 35 pips. Im hoping that any fudge factor will be counter balanced by my skill.

 

[wackypete2]

My chart. 15m
I moved up to 15m charts temporarily. With choppy markets and slow action I'm looking for stronger signals.
Will buy above 1.3277 or sell below 1.3245. Price is currently sitting near the bottom of a 200 pip range for the past 24 hours.

 

[Lord Flasheart]

Jero8 - I think I have become alright with regards to reading the market. Its the excitement and stops that are killing me.
Yes, wrong thread for sure. It was just interesting to see trendie bring that up. Apologies LF.

lol theres nothing else going on. I guess word on my tantrums is getting around. Generally they are for really late calls or total $%£cks trading. I feel vindicated after my latest one proved to be right. I was just trying to help as I and many on this thread always will.

 

[wackypete2]

lol theres nothing else going on. I guess word on my tantrums is getting around. Generally they are for really late calls or total $%£cks trading. I feel vindicated after my latest one proved to be right. I was just trying to help as I and many on this thread always will.

Yup. I feel bad for the guy. He's out of the game for a while. We can only hope he has learned a little something out of it all.

Peter

 

[wackypete2]

eur is teasing me. keeps hitting 1.3245. Sell order is in for 1.3244. Maybe it's an omen?

Peter

 

[wackypete2]

short eurusd 1.3244 stop 1.3264

Peter

 

[wackypete2]

exit 1/2 @ 1.3232 + 12 stop to 1.3254 which is 1 pip above the high of the current 15m candle. In otherwords if the candle reverses, I'm out.

Peter

 

[quaid]

lol theres nothing else going on. I guess word on my tantrums is getting around. Generally they are for really late calls or total $%£cks trading. I feel vindicated after my latest one proved to be right. I was just trying to help as I and many on this thread always will.

Not a problem LF - I have been extremely open minded about your comments after you posted that earlier in your life you had been traumatised by your manager by playing out your sales calls

 

[wackypete2]

moving stop to 1.3234

Peter

 

[wackypete2]

move stop to 1.3230
keeping it tight so no runaways

 

[wackypete2]

Set 2nd target @ 1.3220

 

[wackypete2]

exit @ target 1.3220 +24
all out now.

Peter

 

[bedsit]

eur is teasing me. keeps hitting 1.3245. Sell order is in for 1.3244. Maybe it's an omen?

Peter

nomen est omen