Don`t read this thread..Make Money with it. - page 7
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I've followed some of suri's work from ET and have been impressed with his work. Good to know others are noticing as well. But I haven't purchased anything yet, so it's great to get a hands on review from you.
Hi Simba,
Great thread once again. I started following just now and seems a lot have been covered by you very much appreciated . Thinking to get the book also.
Keep it up!
Guyver.Hi Guyver,thanks for your kind comments.
jbfx,forward demo testing the patterns,then giving my opinions,yes,Suri`s work is very good,hope my comments,trades and charts can be helpful for you.
Just placed an order for the book. Should get it by next week, and have something good to read and add to the mountain of books I already have (most are junk, BTW). Perhaps, then I can join in the conversation with a little more knowledge to participate.
I know he's more focused on the ES and NQ, but I like chart patterns as much as the next guy. I think with S&R levels, and a good eye, patterns have been used to trade just about everything since the beginning of the markets.
The only problem with patterns is that it is very time consuming in forex because of the huge number of crosses and timeframes. It's going to be a daunting task to find them and trade them.
The only problem with patterns is that it is very time consuming in forex because of the huge number of crosses and timeframes. .
Hi jbfx, could you elaborate further on this please if possible?
For futures, you basically have ER, ES and NQ to look at and you have covered all the major markets.
For forex, you have 8 - 10 different pairs to look at. Hehe, I'm always looking at all the market available, but I guess you can only focus on 3-4 pairs, and scan for patterns only on those. But my mentality is that if there is a market, I'm trading it. LOL.
third week update
First week:+146 pips
Second week:0
Third week:-51 pips
Details and statements of first week trades are located at the first pages of this thread,this week trades you can find here.
All trades this week were either MSH or MSL,3 GBPJPY were stopped out,before reaching the target.
My conclusions:I will modify target and stop rules..target is going to be 1 to 1.618 of the "theoretical" stop distance , stop is going to be valid only at bar close if close of bar is higher/lower than stop level,and,if,after 10 bars the trade is alive we close it at market...
I usually use exits at bar close,that is why in other threads at this forum,ie:simbasystem I have stressed the use of chandelier stops,that are valid at close of bar,instead of psar,etc that are valid "if touched",we tested this extensively and the results were always better with stops at bar close...I believe that this is essential for most Forex trading systems due to the high degree of noise we have at Forex.
Have a nice week end.
Hello Simba,
What are those red and blue lines that you have in your charts and what are their values?
Thanks
G G
Looks to me like you need to size your lots according to the value of the cross. I have my book in hand, but I haven't had the time to give it a read yet.
I was going to look through it this past weekend, but was busy with taxes.
Just breezed through the book quickly. I would say that 95% of the book is for newbies. There is probably 1 or 2 patterns that are somewhat intrigueing. I think this book is good for newbies who want to learn what patterns look like. I was expecting more exotic patterns, but I guess I already know most of them.
So for me, this book is not as good as I had thought. If you are a newbie, then it might help.
As for the few new patterns, like what Simba posted, let's see how successful it is.
Newbies
Just breezed through the book quickly. I would say that 95% of the book is for newbies. There is probably 1 or 2 patterns that are somewhat intrigueing. I think this book is good for newbies who want to learn what patterns look like. I was expecting more exotic patterns, but I guess I already know most of them.
So for me, this book is not as good as I had thought. If you are a newbie, then it might help.
As for the few new patterns, like what Simba posted, let's see how successful it is.Probably I am "newbier" than you
,since I find it extremely interesting..I took some holidays this week,next week will explain a few more patterns and demotrade them,jointly with the already explained.