Fx-Chaos (Template)
Hello Folks..!
I fond this template in some place in my computer. Maybe someone can translate the comments and explain it. (Russian comments)
Greetings..!!
For this template is good..let doing some great here...it is a traditional trading system which very popular..so any discussion on this system is welcome..
for those who is not familiar yet on this trading system..you can jump to this link..
Profitunity (Chaos) Trading System by Bill Williams @ Forex Factory
cheers
Hello Folks..!
I fond this template in some place in my computer. Maybe someone can translate the comments and explain it. (Russian comments)
Greetings..!!
Hi mistico,
It is indicators and one template file. Plase indicators in /indicators folder (for example: C:\Program Files\MetaTrader4\experts\indicators ) and compile in MetaEditor. Place template file in /templates folder (for example: C:\Program Files\Metatrader4\templates). Open MetaTrader, open chart, right mouse click on the chart and find your template (and click on the name of your template).
And there are 2 filesd in Word:
- indicators' description. It is nothing important and not so much written in this word file: "for description of the system please read the 3rd book of Bill Williams". And there is an image: NZDUSD H4 chart.
"Fx-bar indicator is showing reversal bar", "you may see high/low of the last 5 bars on the chart" and trend analyzer typing Up [Trend] according to W1 and D1 timeframe.
- Money management. It is the other file in Word.
There are 7 stages of trading (depends on deposit size, number of accounts for multi-terminal, number of pairs you are trading and so on).
For example, your starting balance is between 3,000 and 166,000. You are on the stage No.1.
So you may use recommended lot sizes:
for 3,000 - 6,000 (balance): 0.1; 0.5; and so on.
Stage No.2: $166,000 till $446,000:
166,000 - 196,000: lot sizes 0.5; 2.5; and so on
If you are on the stage No. 2 according to your deposit size and you are lossing money up to $84,500 so you should start with previous Stage in this case.
No need to understand the language in this word file. Just open it and look at the numbers and on my examples written here.
They are using liteforex broker (deposit in cents) so 166,000 in Metatrader = $1,660 deposited to the broker.
Besides it is written that this money management is for brokers in cents (lite forex) and for 0.01 lot sized brokers (IBFX, FXDD and so on). Recommended leverage is 1:100.
That's all.
hi
Hello Folks..!
I fond this template in some place in my computer. Maybe someone can translate the comments and explain it. (Russian comments)
Greetings..!!
Nice template ...thanks
thanks ND for translation 
===================
Hi mistico,
It is indicators and one template file. Plase indicators in /indicators folder (for example: C:\Program Files\MetaTrader4\experts\indicators ) and compile in MetaEditor. Place template file in /templates folder (for example: C:\Program Files\Metatrader4\templates). Open MetaTrader, open chart, right mouse click on the chart and find your template (and click on the name of your template).
And there are 2 filesd in Word:
- indicators' description. It is nothing important and not so much written in this word file: "for description of the system please read the 3rd book of Bill Williams". And there is an image: NZDUSD H4 chart.
"Fx-bar indicator is showing reversal bar", "you may see high/low of the last 5 bars on the chart" and trend analyzer typing Up [Trend] according to W1 and D1 timeframe.
- Money management. It is the other file in Word.
There are 7 stages of trading (depends on deposit size, number of accounts for multi-terminal, number of pairs you are trading and so on).
For example, your starting balance is between 3,000 and 166,000. You are on the stage No.1.
So you may use recommended lot sizes:
for 3,000 - 6,000 (balance): 0.1; 0.5; and so on.
Stage No.2: $166,000 till $446,000:
166,000 - 196,000: lot sizes 0.5; 2.5; and so on
If you are on the stage No. 2 according to your deposit size and you are lossing money up to $84,500 so you should start with previous Stage in this case.
No need to understand the language in this word file. Just open it and look at the numbers and on my examples written here.
They are using liteforex broker (deposit in cents) so 166,000 in Metatrader = $1,660 deposited to the broker.
Besides it is written that this money management is for brokers in cents (lite forex) and for 0.01 lot sized brokers (IBFX, FXDD and so on). Recommended leverage is 1:100.
That's all.Hi ND...actually i sued this kid of system on my account..would u help me to buil EA on this system..i think this system quite great on trending and complete with stop loss..
thanks for your response on this thread...thanks
Hi ND...actually i sued this kid of system on my account..would u help me to buil EA on this system..i think this system quite great on trending and complete with stop loss.. thanks for your response on this thread...thanks
arecent,
I am not a coder by profession and by experience. Of course, I can code almost everything as many other traders. But it takes very long time for me and if I am coding so I am completely out of the forum. Just hope that some other member will code something. Or, may be, EA already exists for this system? because it is very famous system describd many times on the many forums and on our forum as well.
arecent, I am not a coder by profession and by experience. Of course, I can code almost everything as many other traders. But it takes very long time for me and if I am coding so I am completely out of the forum. Just hope that some other member will code something. Or, may be, EA already exists for this system? because it is very famous system describd many times on the many forums and on our forum as well.
yeah...ok tq for your response nD
regards
Hi,
Does anybody know what are the new rules from Bill Williams' second edition of "Trading Chaos" ?
Is anybody applying those rules sucessfully?
Cheers,
Daniel
Translated docs
hi everyone, Please find attached translated copies of the documents... is anyone trading this system ?
Information Only
I read this post from other forum, forgot what the forum is.
=====================================================
I corresponded with Bill Willams in the summer 2006, at that time I have been crazy about Trading Chaos.
And he constantly repeated, that he trades in futures and shares.
And I have always answered him, that I am involved with Forex.
And just now, probably, I understand, why did he dissuade me from Forex trading.
I think, that Bill Williams already knew about Forex controllability.
I would like to share with you this information.
It's quite interesting and instructive.
A material below he has sent me by the separate letter, and he has named it
" Reasons why I do not trade Forex ".
10.07.2006
....reasons
why I do not trade Forex
bill wms
WHEN TO NOT TRADE FOREX
Because so many people bombard us with requests
about forex, we teach people how to trade it.
Better to teach them the right way than to let
them commit financial suicide. Nevertheless, we
do not advocate forex trading unless you have a
particular reason as to why you need to trade
during the middle of the night, or you have a
specific need to trade in currency pairs that
do not involve the U.S. dollar. If the U.S.dollar
is involved and you are able to trade during U.S.
market hours (7:20am-2:00pm U.S.Central Time) you
are much better off trading currencies in the
Chicago currency futures markets. Here is the
reason why:
* Brokers deceive you about there being no com-
missions. $30 minimum/round turn(called spread)
is in reality a commission that eats up your
capital at an astonishing rate. Even winning
traders lose money and end up with negative
results because of this outlandish overhead.
Trading futures, you never have to pay a broker
more than $10/round turn, and usually quite a
bit less than that.
* Guaranteed fills. True but... The only way a
broker can guarantee fills is for the broker to
become the buyer or seller of last resort. That
means the broker is running a bucket shop. All
forex brokers are the buyer and seller of last
resort.
* Brokers do not tell the truth about volume.
They show the volume for all forex trading,
which doesn't even come close to the volume
they truly have at their own brokerage, which
is where you are trading. Volume in currency
futures is considerably higher than the volume
traded at any single forex broker, often great-
er by a factor of ten.
* Leaning. Brokers say they are charging you a
3 pip spread to trade the popular currency
pairs. But in reality a broker may be making
as much or more than 10 pips on your trades.
He does this by skewing prices. Since you are
not trading at an exchange, the broker can
feed you any price he wants to feed you. He
can buy at the bank for perhaps 7 pips less
than he sells to you. He then charges you 3
pips for the privilege of being ripped off for
a total of 10 pips.
* Unregulated. Forex may sound like an exchange
but it isn't. It exists entirely in cyberspace
with every broker and every bank having diff-
erent prices for any particular currency.There
is no regulation,even for brokers who register
with the CFTC and the NFA. Forex brokers do
not have to mark to market each day as do
futures brokers. If your forex broker files
for bankruptcy or absconds with your money you
have zero recourse.
* No guarantee. If a forex broker does go out
of business, you could lose all your money.
There are no guarantees and no one standing
behind it. Futures brokers are required to
mark to market every day. They have to put up
cash to cover every open trade on their books.
Future brokers have gone broke, but no future
customer has ever lost one cent of the money
in his trading account because of a failed
broker. Nor have they had to wait for their
money. It is immediately available.
* You can get exactly the same action in the
euro fx futures as you get in the"Euro" forex.
Commissions are as low as one tenth per round
turn depending on volume, through a regulated
broker, trading electronically at an exchange
where you know the true price of the currency.
* What is the true price? A forex broker can only
give you the price of a currency as quoted to
him by the bank through which he trades. Banks
have diffeing prices for a currency. You never
know what the real price is because there is no
central exchange through which all prices flow.
Besides not knowing the true price from the
bank, you can also be deceived by "leaning" or
"skewing" of the real price at the bank. Forex
brokers comonly lean the prices.
* Forex brokers are not truthful. They lure
people in with hype and false advertising: "No
commissions!" "Guaranteed fills." "24 hour
trading:" Who in their right mind is going to
trade in the middle of the night unless they
have a special need. While it is true that
total forex volume is greater than in the
futures, futures volume at the exchange is
greater than the volume at your broker for the
most popularly traded currencies. The only
place where the liquidity differential matters
is in currencies like the Mexican peso, the
Brazilian real, and somebody's drachma. Those
thinly traded currencies may be more liquid in
forex. But if you trade anything but the few
most liquid and popular currencies, you are
going to be paying at least 5 pips, and often
more. Unless you have a particular comercial
need to deal in Polish ziotys, Indian rupees,
or some other thinly traded currency, you don't
need forex.
* You are told by forex brokers that there is
little or no stop running. This is one of their
biggest and boldest fabrications. The truth is
there is far more stop running in forex than in
futures, and possibly as much stop running as
in the stock market. I have friends who work in
forex as well as many traders who of necessity
have to trade forex. One of my students is a
market maker in forex. These are people who
should know, but in case you don't want to
believe me or them, simple observation of forex
trading will reveal the vast amount of stop
running that takes place there. Who is it that
runs the stop? It's your friendly forex broker,
that's who. The broker has a vested interest in
seeing to it that your orders are filled. Stop
running is nothing more than order filling.
The broker sees to it that everybody's orders
get filled.
* Probably you have heard that if your are win-
ning regularly in forex, you may be barred from
trading. Is this true? Yes it is. The fact that
is true is just another proof that when you
trade forex you are trading at a bucket shop.
In the book, "Reminiscnces of a Stock Operator,
" we are told that Jesse Livermore was banned
from trading a certain stock brokers because
they couldn't stand him beating the housel. The
same thing is true with many forex brokers.
Since they are the ones guaranteeing you a fill
they in effect the buyer and seller of last re-
sort. The truth is that most forex brokers have
precious little liquidity at their firms. In
order to give you the impression that there is
liquidity, it is the broker who gives you your
fill. It is the broker who does the stop run-
ning that supposedly doesn't exist in forex.
But if you are regularly beating the socks off
the broker, he will ban you from trading at his
firm.
Now you know the truth about forex. I challenge
any and all forex brokers to prove that I am
wrong.
=================================================
I read this post from other forum, forgot what the forum is.
=====================================================
I corresponded with Bill Willams in the summer 2006, at that time I have been crazy about Trading Chaos.
And he constantly repeated, that he trades in futures and shares.
And I have always answered him, that I am involved with Forex.
And just now, probably, I understand, why did he dissuade me from Forex trading.
I think, that Bill Williams already knew about Forex controllability.
I would like to share with you this information.
It's quite interesting and instructive.
A material below he has sent me by the separate letter, and he has named it
" Reasons why I do not trade Forex ".
10.07.2006
....reasons
why I do not trade Forex
bill wms
WHEN TO NOT TRADE FOREX
Because so many people bombard us with requests
about forex, we teach people how to trade it.
Better to teach them the right way than to let
them commit financial suicide. Nevertheless, we
do not advocate forex trading unless you have a
particular reason as to why you need to trade
during the middle of the night, or you have a
specific need to trade in currency pairs that
do not involve the U.S. dollar. If the U.S.dollar
is involved and you are able to trade during U.S.
market hours (7:20am-2:00pm U.S.Central Time) you
are much better off trading currencies in the
Chicago currency futures markets. Here is the
reason why:
* Brokers deceive you about there being no com-
missions. $30 minimum/round turn(called spread)
is in reality a commission that eats up your
capital at an astonishing rate. Even winning
traders lose money and end up with negative
results because of this outlandish overhead.
Trading futures, you never have to pay a broker
more than $10/round turn, and usually quite a
bit less than that.
* Guaranteed fills. True but... The only way a
broker can guarantee fills is for the broker to
become the buyer or seller of last resort. That
means the broker is running a bucket shop. All
forex brokers are the buyer and seller of last
resort.
* Brokers do not tell the truth about volume.
They show the volume for all forex trading,
which doesn't even come close to the volume
they truly have at their own brokerage, which
is where you are trading. Volume in currency
futures is considerably higher than the volume
traded at any single forex broker, often great-
er by a factor of ten.
* Leaning. Brokers say they are charging you a
3 pip spread to trade the popular currency
pairs. But in reality a broker may be making
as much or more than 10 pips on your trades.
He does this by skewing prices. Since you are
not trading at an exchange, the broker can
feed you any price he wants to feed you. He
can buy at the bank for perhaps 7 pips less
than he sells to you. He then charges you 3
pips for the privilege of being ripped off for
a total of 10 pips.
* Unregulated. Forex may sound like an exchange
but it isn't. It exists entirely in cyberspace
with every broker and every bank having diff-
erent prices for any particular currency.There
is no regulation,even for brokers who register
with the CFTC and the NFA. Forex brokers do
not have to mark to market each day as do
futures brokers. If your forex broker files
for bankruptcy or absconds with your money you
have zero recourse.
* No guarantee. If a forex broker does go out
of business, you could lose all your money.
There are no guarantees and no one standing
behind it. Futures brokers are required to
mark to market every day. They have to put up
cash to cover every open trade on their books.
Future brokers have gone broke, but no future
customer has ever lost one cent of the money
in his trading account because of a failed
broker. Nor have they had to wait for their
money. It is immediately available.
* You can get exactly the same action in the
euro fx futures as you get in the"Euro" forex.
Commissions are as low as one tenth per round
turn depending on volume, through a regulated
broker, trading electronically at an exchange
where you know the true price of the currency.
* What is the true price? A forex broker can only
give you the price of a currency as quoted to
him by the bank through which he trades. Banks
have diffeing prices for a currency. You never
know what the real price is because there is no
central exchange through which all prices flow.
Besides not knowing the true price from the
bank, you can also be deceived by "leaning" or
"skewing" of the real price at the bank. Forex
brokers comonly lean the prices.
* Forex brokers are not truthful. They lure
people in with hype and false advertising: "No
commissions!" "Guaranteed fills." "24 hour
trading:" Who in their right mind is going to
trade in the middle of the night unless they
have a special need. While it is true that
total forex volume is greater than in the
futures, futures volume at the exchange is
greater than the volume at your broker for the
most popularly traded currencies. The only
place where the liquidity differential matters
is in currencies like the Mexican peso, the
Brazilian real, and somebody's drachma. Those
thinly traded currencies may be more liquid in
forex. But if you trade anything but the few
most liquid and popular currencies, you are
going to be paying at least 5 pips, and often
more. Unless you have a particular comercial
need to deal in Polish ziotys, Indian rupees,
or some other thinly traded currency, you don't
need forex.
* You are told by forex brokers that there is
little or no stop running. This is one of their
biggest and boldest fabrications. The truth is
there is far more stop running in forex than in
futures, and possibly as much stop running as
in the stock market. I have friends who work in
forex as well as many traders who of necessity
have to trade forex. One of my students is a
market maker in forex. These are people who
should know, but in case you don't want to
believe me or them, simple observation of forex
trading will reveal the vast amount of stop
running that takes place there. Who is it that
runs the stop? It's your friendly forex broker,
that's who. The broker has a vested interest in
seeing to it that your orders are filled. Stop
running is nothing more than order filling.
The broker sees to it that everybody's orders
get filled.
* Probably you have heard that if your are win-
ning regularly in forex, you may be barred from
trading. Is this true? Yes it is. The fact that
is true is just another proof that when you
trade forex you are trading at a bucket shop.
In the book, "Reminiscnces of a Stock Operator,
" we are told that Jesse Livermore was banned
from trading a certain stock brokers because
they couldn't stand him beating the housel. The
same thing is true with many forex brokers.
Since they are the ones guaranteeing you a fill
they in effect the buyer and seller of last re-
sort. The truth is that most forex brokers have
precious little liquidity at their firms. In
order to give you the impression that there is
liquidity, it is the broker who gives you your
fill. It is the broker who does the stop run-
ning that supposedly doesn't exist in forex.
But if you are regularly beating the socks off
the broker, he will ban you from trading at his
firm.
Now you know the truth about forex. I challenge
any and all forex brokers to prove that I am
wrong.
=================================================then trading @ MBTrading forex, and FX Futures are different? are MBT bucketshops as well? but i thought they were "ecn" "nondesk dealer"
is FX futures more expensive to trade? if i started out with 500 dollars, forex would be more ideal wouldn't it ?
P/L on future contracts are made through daily. so if i open a euro future position today, tomorrow i will get margin call, and the day after it will go back up. isn't this dangerous.
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Hello Folks..!
I fond this template in some place in my computer. Maybe someone can translate the comments and explain it. (Russian comments)
Greetings..!!
Mistico