The T2W Members Forex Strategy - A Collaborative Effort!

[Splitlink]

I think the other point to mention here is that there does seem to be the perception that there are these wonderful profitable systems out there that can be learned. Personally I'm not going to go through the pain of describing how I trade because my system isn't perfect and relies on my own judgment to override any rules I trade. This is important because it stops big losses and sometimes I trade completely opposite to my system when I can see it is wrong or if I'm looking to profit from obvious short-term opportunities. This is something I've gained from experience which I can't teach in a forum.

Yes, there's a lot of truth in that and I'm one who makes some horrible CUs .Nevertheless, a trader who is consistently right is not going to tell us how he does it. Ask Socrates.

 

[JTrader]

No, sorry, I don't agree with that. I pointed this out to CYOF months ago when he was bottom fishing. No one is going to give profitable systems away on a forum. It does not make sense.

Split

Lets be clear -

No one is asking anyone to give away anyones best personal strategy away for free.

Lets assume we all have a SUPER strategy of our own. I do not assume for one minute that there are not other methods out there & available that will achieve the same consistency, and nor should anyone else.

Therefore it is possible that we can all through collaboration work towards producing something that is equal to or better than our own individual efforts (yet completely different in nature), through the exchange & discussion, & introduction to FRESH ideas, WITHOUT anyone doing anything like posting their own personal SUPER strategy.

 

[rols]

Lets be clear -

No one is asking anyone to give away anyones best personal strategy away for free.

Lets assume we all have a SUPER strategy of our own. I do not assume for one minute that there are not other methods out there & available that will achieve the same consistency, and nor should anyone else.

Therefore it is possible that we can all through collaboration work towards producing something that is equal to or better than our own individual efforts (yet completely different in nature), through the exchange & discussion, & introduction to FRESH ideas, WITHOUT anyone doing anything like posting their own personal SUPER strategy.

JT have a look at the 'edge' thread. It may help.

 

[JTrader]

By the way, i have 4-5 of my own strategies that i am fairly happy with. None of them are perfect, but i do believe they are better than a lot of the strats that i see posted over on FF, and they all make a profit by performing quite well. I also believe it is possible for me to improve upon what strategies that i have developed so far.

But there's no rush to simply throw something together, just for the sake of it, IMO.

PS: Trendie, thanks for your contribution - I (for one) am still thinking about it.

 

[Trader333]

Markets have a third possibility in addition to trending and consolidation and that is ranging. There are many people who trade this using approaches such as overbought and oversold signals and it works well in markets that tend to do this. However, they lose when a market starts trending.


Paul

 

[JTrader]

Markets have a third possibility in addition to trending and consolidation and that is ranging. There are many people who trade this using approaches such as overbought and oversold signals and it works well in markets that tend to do this. However, they lose when a market starts trending.


Paul

I thought consolidating & ranging meant the same type of thing . What is the difference?

Cheers.

 

[trendie]

I agree with GJ, that JT needs to set a framework for his thread.

that means JTshould describe his definition of trend, and ranging. in mathematical or indicator or pattern terms.
then we will have some baseline to work from.
a collaboration can only work if we have an agreed set of rules and definitions from which to work.
back to you, JT..

 

[JTrader]

I agree with GJ, that JT needs to set a framework for his thread.

that means JTshould describe his definition of trend, and ranging. in mathematical or indicator or pattern terms.
then we will have some baseline to work from.
a collaboration can only work if we have an agreed set of rules and definitions from which to work.
back to you, JT..

Agreed that some sort of leadership is necessary, though i don't necessarily want the last word on things .
A thumbs up/thumbs dow voting system might be necessary. That might be the best method of decision making. If you agree with an idea/suggestion, quote it, and place a thumbs up or down in the "post icon", and the idea can be progressed or abandoned on that basis :?: :?:

 

[Hughmac]

a great idea which has been attempted numerous times on many similar forums across the net, thus the cynicism (?) when its proposed yet again.

However i do believe that many people learn by taking part or watching a system get dissected by more experienced players or fails due to market action.

I think that JT and anyone else interested should go ahead and be given the room to breath the system into life without unnecessary criticism from other members.

You never know we may all learn something in the process.

 

[Trader333]

I thought consolidating & ranging meant the same type of thing . What is the difference?

Trading range bound markets as an example would be taking a Short position at resistance and a Long position at support with enough distance between the two in terms of price to be able to make a profit.

When a market consolidates you are very likely to get whipsawed and be unable to profitably trade because as soon as you enter a position the price will move back and forth across your entry for considerable time.


Paul

 

[JTrader]

Trading range bound markets as an example would be taking a Short position at resistance and a Long position at support with enough distance between the two in terms of price to be able to make a profit.

When a market consolidates you are very likely to get whipsawed and be unable to profitably trade because as soon as you enter a position the price will move back and forth across your entry for considerable time.


Paul

Thanks.

So a ranging market is quite orderly, fluctuating between S & R.
But a consolidating market is quite disorderly, in that price is being pulled back & forth in a fight for a clear direction :idea::?:

 

[blackcab]

a great idea which has been attempted numerous times on many similar forums across the net, thus the cynicism (?) when its proposed yet again.

However i do believe that many people learn by taking part or watching a system get dissected by more experienced players or fails due to market action.

I think that JT and anyone else interested should go ahead and be given the room to breath the system into life without unnecessary criticism from other members.

You never know we may all learn something in the process.

Quite right. The journey should be rewarding regardless of the destination. Go for it.

 

[JTrader]

Hi

just to add that because i started the thread doesn't mean this is my baby!

Others please feel free to try & grab hold of the reigns if & when you want.

I am still thinking about how to advance this, and my enthusiasm has been knocked by the critics (who little they want contribute themselves)....but i still think we can do something worthwhile....

 

[dick_dastardly]

I am still thinking about how to advance this

Well, at least you have something to aim for.

Wouldn't it be nice to have a strategy that captured more than one type of price activity?

dd

 

[tightstops]

id like to contribute. the problem is no one with any meaningful edge will talk about it and rightly so - if you spend 5 plus years honing trading its unlikely youll give it to strangers willing to spend 10 minutes reading.
so what we will effectively have is a bunch of novices (people who may know a bit about trading but are unwilling to talk about the bits they know about).
this isnt necessarily a problem it just means starting at a level or place that none of us have been paticularly impressed with before but might be happy to look into.
we do need some sort of direction though. since were on the subject of consolidations how about looking into this. right now on euro for example weve had a sharp move up and are now moving sideways. is this more likely to continue on or pull back and would it be better to buy when it makes new high or when its touching the lows of the consolidation or sell on new highs or new lows - we dont know were novices but since we dont know lets watch it and learn how about adding something to keep an eye on for future reference to how about macd i dont know anything about it but i know a bit of volume gets pummelled in on the back of it maybe we can see something happening there next time we see a consolidatioon and a macd making the same shapes with the same results we can look for that scenario again and eventually begin to get a feel for what might happen. maybe stochastics or point and figure but i think to start with we need to be a bit specific

 

[JTrader]

The other thing to remember is that this strategy can evolve. It may start off based on one thing, but over the course of time, as we refine it, it can become something different (better) until we reach a point where we are all happy with it.
Then if it eventually stops working for some reason.....Personally, i think one of the key aims of this project should be to look for a strategy/setup/whatever that we do not think should become much less effective over time. For example, a few years back JonnyT had his 9-11am breakout strategies, that worked well for a while, then nose-dived, and hasn't been mentioned since. Personally i am in favour of avoiding this type of approach that is prone to sudden failures - unless we find something that is very much proven, and successful.

 

[tightstops]

when i wrote my last post i intended to make a considerable effort towards this thread but on reflection have decided not to and would second what the bramble said about finding tons of useful stuff throughout the site

 

[counter_violent]

J T, I know i'm not alone when reading your posts and the sheer frustration they cause...a lot of members here have offered you good advice and leads to explore and not only on this thread but on numerous ones beforehand...now instead of continually dismissing what they say and replying with your own slant on things...perhaps it would be wise to maybe take some of the advice and also learn to read between the lines and pick up on the hints etc etc ....

Heres one I posted earlier.

The trick JT is to form a very small select group of traders who all have different skill sets.....if One stops performing for whatever reason...fk em off...and replace with a hand picked new member...you can always tell who is not performing in a small group....

Of course, it does mean sharing and a clear understanding of what it is that everyone is working on.

CV
__________________
There is a gaping chasm that separates Wafflers from Doers

and another follow on post


Yes CV, i agree that it interesting.

But the point is, for some traders, programming code is likely to resemble a menu in a Chinese Retaurant in downtown Beijing .

A trader is a trader, a programmer is a programmer. I am a trader who has done basic EL programming. A programmer may do some trading, but primarily earns a living through his programming. A programmer may trade for himself the best strategies/idea clients have brought to him.

There are many knowledgeable traders/programmers on TSW for example, but that does not mean that they are very good/successful traders.

A traders focus is on trading, and not on programming. If they can do both then great, but wasting days/months learning a charting applications programming language can be a waste of time IMO - when you may find a reason to change charting platform suppliers at the drop of a hat.........

I want to learn as much about code, and the charting platform as i need to. I do not need to pass a programmer exam in that platforms code/language in order to be a good trader.

CV........
The common bond being "traders" then we look for subset skills...eg mathematician, programmer, artist , thinker, etc etc...if a programmer for example is left to his own devices ( they like to show off a bit ) you end up with buttons and knobs and glitter...none of it anything to do with whats required.. ... an artist may be away with the fairies half the time...but can observe from a different perspective....and maybe needs level heads to keep him on track...

you get the idea

cv
__________________
There is a gaping chasm that separates Wafflers from Doers

cheers C V

 

[JTrader]

Yes CV, that all does sound like a good idea. A bit like "oceans eleven" :idea: .

 

[Trader333]

Personally i am in favour of avoiding this type of approach that is prone to sudden failures

How are you going to know in advance without actually going ahead and trading it ?

Do you really think that JonnyT developed his approach knowing that it may suddenly fail to work ? The fact is that all trading strategies will have lose money at certain times and this is unavoidable in my view.


Paul