Trade in Forex

[neil]

Grail Vendor in town

Dear commanderco and dearest SRG
II wasn't aware of thess advisory or forecast services but as I said before since I started with those reports, I am constantly making money and when I was trading on my own analysis I was just loosing money. If your point is correct and everyone should have his own analysis so why fund managers and big companies are using these sort of mechanics for their trading.

I heard there are even robots that make signals and they execute trade themselves! For someone like me who wants to make money maybe it is an ideal solution (perhaps short term) until I become master. I am not going to say the name of that website again but what ever method they use they made me over a couple of thousand dollars in last 4 days. The money I was struggeling to make in 2 weeks (since I started trading).

thank you again

Sorry - but you seem to be trying to promote these services via the back door. For example, the above two persons try to point out that you will get no where without considerable effort by yourself yet you continue to plug your view that you can trade successfully without getting off your butt and putting in a lot of study time. You have to read and practice and face your biggest foe - yourself. You may one day find that successful trading comes from within - for that success it takes time and effort.

If you are searching for dumb ass customers be aware that you will find very few on this site.

 

[commanderco]

well dear SRG.

by the way if oneday I become a very successful trader and have my own analysis, I want you to know that I do not fear of putting it for other to follow in this website or any other websites. I don't need to trick anybody in order to give my analysis.

Fxrobert
Here is my system, I was explaining it to some other people on this forum in a slightly different context than this thread, but the main thrust is still the same
I am quite happy to run it in the WSJ, since it contains no secrets other than
"hard work has it´s own rewards"

My understanding of "Martingale" is that you double up when you lose.
My system of trading Fx futures could not be further from this, that is why I asked you
to expand on your statement since you seemed to completely misunderstand what I wrote.


Firstly, let me address the concept of "established trend" in fx futures.
ie Euro.
In the last 768 days, the EC has been in an Up trend 25% of the time and 11%
in a Down Trend.
The odds of 2 Up days in a row are 44%; of 3 days 22%; of 4 days 11% and of 5 days 5%.
The Down days are even worse.

I do not trade breakouts since the protective stop would need to be at least one day´s range deep and the average daily range of EC is 114 points.
I enter the market by fading the turning points with an accuracy better than 77% and
a protective stop around 24 points.
Even if the TP turns out to be a fake there is a spike in my direction of ´n´pts better than
70% of the time. This spike is sufficent to cover my losses etc, by clearing out 50%
of my contracts for a target of n-1.
I exit on a Up or Down swing depending on the direction of the trade.

So you see, my safest position is engineered to be my entry. Each day after that
the odds against me increase enormously.
I cannot afford the luxury of an "established trend" since I will not take a loss across
the daily range of 114 pts and therefore I cannot use a trailing stop for anything
other than emergencies.
I will re enter a trend on a fade rather than risk a daily range just to see if the trend is holding.
I started trading the conventional way ( as per the books), but I could never get used to the losses and therefore never got beyond 1 contract.
It was not until I sat on a beautiful Brazilian beach one day and thought that if 100% of the people read the books and 90+% of the people loss money, my approach needs to be in the opposite direction.

Back to "Martingale" I do not change my pattern or trading after a loss.
The idea of doubling up after a loss would break me out in a cold sweat.

fxRobert, tell me if you understand what I am saying here.
If you do, then there is no need for you to be throwing your money at Strangers.
If you do not understand me, then you definitely should not allow yourself anywhere near Strangers.

 

[S.R.G.]

 

[soccer_daemon]

Great advice commanderco, but please clarify your definition of up days and
down days.

My interpretation of up day: today CLOSE > yesterday CLOSE
down day: today CLOSE < yesterday CLOSE.

BTW, I have been observing your advice on TP on a couple of pairs now. Good
stuff, I am studying them closely on daily, hourly and 4-hour interval.

SD

[snip]
Firstly, let me address the concept of "established trend" in fx futures.
ie Euro.
In the last 768 days, the EC has been in an Up trend 25% of the time and 11%
in a Down Trend.
The odds of 2 Up days in a row are 44%; of 3 days 22%; of 4 days 11% and of 5 days 5%.
The Down days are even worse.
[snip]

 

[commanderco]

Great advice commanderco, but please clarify your definition of up days and
down days.

My interpretation of up day: today CLOSE > yesterday CLOSE
down day: today CLOSE < yesterday CLOSE.

That is correct, although the figures I used were probably OPEN to CLOSE
Not much difference in a glbx market.

 

[soccer_daemon]

commanderco, one thing in your earlier reply with obsevation of how much of
the time the euro was trending up or down. Am I correct in assuming that you
are trading trend ? If so, that ,means you will only be in market 36% of the time,
yeah ? Once market get into consolidation, do you use the same criteria of TP
to get yourself out of the market or do you use different criteria ? Just curious.
BTW, I am refering to daily price chart here.

SD

 

[commanderco]

commanderco, one thing in your earlier reply with obsevation of how much of
the time the euro was trending up or down. Am I correct in assuming that you
are trading trend ? If so, that ,means you will only be in market 36% of the time,
yeah ? Once market get into consolidation, do you use the same criteria of TP
to get yourself out of the market or do you use different criteria ? Just curious.
BTW, I am refering to daily price chart here.

SD

I trade trend through the TP´s. Consolidation is traded via a different criteria
and it is a quick flick for points targets, as consolidation by it´s very nature
rolls every 1 to 3 days and to hold my trade to the close of day 2 or 3 may mean
giving up a day´s range of points ... something that I dislike doing.
Rightly or wrongly, I use points won and points lost as a base only, from which
I use number of contracts traded as the bacon winner.
I dont necessarily try to maximise the points in my trades as in my experience
that leads to a different style of trading, in fact I try to normalise the points W/L
each week.

 

[fxrobert]

Dear Commanderco,
I must say you made me your slave. I thank you very much for all kind advice and comments. Perhaps yuo were to only person who understood me and helped me here. In fact after lots of thinking, I realised this Viagra guy "neil" and maybe even "SRG" were doing a publicity stunt. I thought to myself, I just ask a simple question and wanted to see if anyone could give me advice on different companies and websites who offer free analysis and reports. Then we saw what exchange of messages were going on. Now I believe these guys might be behind that website and in this way they were trying to promote their website otherwise they wouldn't have made such a big deal out of my simple question. They might just wanted to find an innocent person to do their trick. I am sure that websie
I am sure that website had much more visitors since they started tlaking and talking abou it. In my opinion this was just a publicit stunt like Jannet Jackson buubi trap! Anyway thank you for your wisdom and your care. I will ask you my technical questions if you don't mind. Cheers

 

[philhackett]

How to trade Forex

Download Dealbook from www.gftforex.com

Email me when you have and I will help you set up your screens using Keltner Channels, Fx trend, DiNapoli macd and preferred stochastic set at 25 and 75 as well as a double exponential moving average set at 14. We will also use two CCI's set at 14 and 50 respectively. If you prefer, Wes Newman at GFT is my manager and he will telephone you to explain how to set you up your [email protected]

Trading Forex is very simple if you know how to and I do. Do not be put off by those who do not.

I am in the UK so if you want to telephone mw be aware of the time differences.

Sincerely

Phil

Dear all,
I have just subscribed to this site and found it very informative and nicely done. I am new in trading FX so I think I can learn a lot from here. Does anyone have any suggestions about any materials regarding guide to FX trading or anywhere I can get free reports and market analysis or anything that I can download form the internet or any website?

regards,

 

[options]

Phil.

Do you use the standard bank time frames of daily, 4 hour,and 1 hour to trade with?

 

[FXdancer]

My first day on FX was terrible... I waste nearly 50% of money, next day I have got only 20% of this what I have on start, but one week later I have 150% of this what I have got in the beginning.

 

[dpate]

hey Fxrobert, can you tell me the website for safe ltd and moneytec - I am new to forex trading (but experienced in others ie futures, options, spreadbetting) and I would like to see more of these guys running these websites! From your experience, how have you found them up to now!!

 

[planb]

I cannot afford to loose my savings.

Starting out as a new trader, it's best (for me at least) is to enter the forex with the fact that you may ( and most likely will) loose for a time. In the beginning it is like gambling, the house will almost aways win as the odds are in their favor. The odds are in the favor for your broker in the beginning, only because of one's lack of knowledge and experience.

Bottom line, and this I hope will apply to even the seasoned traders, don't enter any trade that you are not willing to risk a loss.

Just my 2 pips
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