My honest history chart of trading on Forex - page 7

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Otomaru
648
Otomaru  
GreatYves:
Martingale is cheating. It works but when it fails it's desastrous.

Any approach, when fails, is disastrous.

The problem with trend following is the TP, SL, and lagging indicators. Everything is the problem, in fact. Too complicated for me. But I will keep posting my trading results, and if I am wrong, I will pay to prove me wrong

It is not exactly martingale, of course.

Otomaru
648
Otomaru  

I love the way the market is going this week!

kawser
200
kawser  

Per day you are trading on average 4-7 trades.......All of them in one currency? and What is the time frame do you use?????your this month pips hunting so far is about 822 and in my eyes it is just great Jack.............

My target is only 400 pips per months ....Per 15 days 200 pips or per week 100 pips........and I am over if I can do that in this way.............

Thanx Jack and regards

Otomaru
648
Otomaru  
kawser:
...it is just great Jack....

I am not really worth it, kawser, unless you speak with irony.

No, I change currencies, my favourite was EY, but it turned into a turtle compared to last year.... So, any currency really... As long as it has a low spread. GY is was good food, but a 7pip spread makes it almost impossible to trade using my current semi-martingale strategy... So any pair really.

As for TF, it is 1 hour. Sometimes 30 min.

But hey, your idea of trading (by trandline breaks) was actually much better compared to the stuff I am talking about. So what happenned to it? I really think that trading by Trend lines alone is the most elegant and sophisticated way of trading. However, this kind of analysis does not work for me, I am not good enough.

This week is really tough, I made my 150+ pips, but I think I will stop trading now and will just observe. The attached pic is a real murderer, and it looks like this on many pairs.... very tough to trade this week.

A possible solution for periods like his is to go up one timeframe and trade 4hr (the picture is 1hr).

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kawser
200
kawser  
FatherJack:

But hey, your idea of trading (by trandline breaks) was actually much better compared to the stuff I am talking about. So what happenned to it?

This week is really tough, I made my 150+ pips, but I think I will stop trading now and will just observe. The attached pic is a real murderer, and it looks like this on many pairs.... very tough to trade this week.

Yes Jack I use still trend line breaking with BB and my strategy is really simple Jack and I shifted my time frame from 30m to 4H as I think I get the day trend from 4H chart but it is not possible to get the day trend from the 1H or 30m chart and I targeted myself to acquire slowly but steadily pips and I am coping with this idea .......

Yes like you I say this week is tough for me also........Some quite good news could not move USD may be for Obama's predication that US needs more time to cope with this recent recession....I am trading only UJ and GU and I am trying to cope with them as I don't like many countries combined in a currency ........

Cheers Jack...........

thanx for the info............

Otomaru
648
Otomaru  
kawser:
from 4H chart

kawser, I have a question - don't you find that working on 4hr you have to at lest double your account deposit?

I'd LUV to go 4 hr, but I don't think I have the dough...

kawser
200
kawser  
FatherJack:
kawser, I have a question - don't you find that working on 4hr you have to at lest double your account deposit? I'd LUV to go 4 hr, but I don't think I have the dough...

Actually Jack, I think it is better to use higher time frame rather than lower .....This is only my opinion.....May be many will differ.........

And for UJ(this is my preferable pair) it is enough to use 100 pips SL though I don't use SL setting it in the platform,it is only in my head that I am at most gonna take it as risk......And it is my highest predicted(!) loss as UJ don't give me more than this 100 pips volatility and I only take 2.5-10 times leverage and the way I target only 2.5-10% loss in my per trade......But as I am in higher time frame if the trade makes me wrong I get enough options to get out of the wrong trade.......

And I use trend line for entry and exit(I just use trend line to exit and nothing else.......and I got that in 4H time frame trend line is the most effective exit ) and I try to buy or sell at the optimum level thus I reduce SL ..........

I need 200 pips per 15 days consistently(that's the real challenge for me) and I wait for the bigger trend but perfect trend......

So I think you got the answer ...........The thing totally in MM(money management), and it is not necessary to think about your dough or anything else............And I don't trade GJ or EJ or like them volatile pairs as they need more SL and I don't need more pips

May be you got the answer ..........

thanx mate and regards.........

Otomaru
648
Otomaru  
kawser:
May be you got the answer

Well,... not quite mate

Probably these are just language problems. Most likely they are. But I like your idea of doing GU and UY as they do not corellate and are different.

But I still do not understand: when working a higher timeframe, you need a bigger deposit, dont'you? Maybe you have answered me in your post, but I do not see where exactly

Now, more questions though: how do you find a trend line? I mean, there are so many lines you can draw on the chart... how do you know which one will be important?

Otherwise, I believe 4hr chart is ideal to trade, because it filters out fluctuations, and still is accessible for traders who are not millioners... But I am really afraid of goind 4hr, because the SL is still quite big... even on the UY (by the way, that was a pair I traded first in my forex experience I bought 121.00 in spring 2007... held it till fall... painful....

kawser
200
kawser  
FatherJack:
Well,... not quite mate

umm...May be Jack as my English is worst ...... .......here I try to clarify it again..........

Suppose I have a $400 deposit.....It is not so big............I shall trade only $1000 then my leverage is 2.5 times.......Clear??? huh!!! Now suppose I lost 100 pips on my first trade and I am $10 dollar loss in my trade .......Right????Then I lost about $10/$400=2.5% per trade........This is MM and you can use it any deposit............All depends on MM(money management) nothing in deposit......And I think you know it the bigger SL the bigger reward .......You can even trade day chart with your $400 deposit and then if your SL is 300 pips then you have to use $300 per trade and you are not trading with leverage and when your loss is 300 pips you are losing 9 dollar and your risk is 2.25% per trade...........

And about trend line jack.............Just I give you an example of UJ latest trade...........And of course 4H chart..........

Here in the example of my reducing risk.....Just at first in your system I got the buy signal and I wait for reducing the cost(like stock market)....I know this is bigger trend so pair is not going to fall from my buy place as our MA are not so week and if falls then my loss will be less when I opened at higher rather than it.....And I try them in the lower line of the pair for long and higher line for short .......and my exit is shown in the picture also.........It is not possible to buy or sell exact the trend line but I try after BB crossed and a positive candle and thus I miss also some pips but I also in this way lessen my risk................I think I could understand my ways............

The summary for the trend line is I use them after getting buy signal in my MA crossing otherwise not...............So trend line is just a helper for me but I use it for exit exactly as I did not got any better exit strategy rather than trend line............

Thanx Jack.................

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uj00.gif 23 kb
kawser
200
kawser  

jack here is the bigger picture ......Just see how accurate the patterns and trend lines are......if you constantly trade one pair for some days and keep eyes on the movement of the pair with its news you will see how the trend line and patterns are formed with the news.......tomorrow there are two important news coming for the USD and I think UJ will trade before that news from the range 95.459 to 95.880 ..............95.459 is broken with some good news for the USD 95.880 is not broken out yet......and I think the news was not so powerful to break out and 95.880 will be broken up with good news may be tomorrow and will break down with bad news and .......Lets see........

Before 95.459 break out it gave range trend from 94.700 to 95.300 and that kills us ....But we could be aware as the leg was making higher highs and there was no divergence in this zone I think that's the accumulation zone for the traders and one thing I got from this range trade that we can trade here with accuracy...........

Actually if we could correlate news with technical sides then we could get the better results from our trade may be.......And it is possible if you trade only one or two pair for years and I am trying to do so.............

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uj0.gif 25 kb
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