I know it cant be this easy... No name yet
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Thread: I know it cant be this easy... No name yet

  1. #1
    Hi,

    First let me make sure everybody understands:
    1) I am a newbie, been trading only about a year
    2) I've blown a number of account
    3) I have no clue what I am doing
    4) I alter trading methods on a daily system
    5) I am searching for my holy grail
    6) I only prefer to trade on a daily basis, scalping drives me crazy
    7) My middle name is impatient greedy bastard

    So why am I doing this? As I pretend to develop a technique which will allow me to trade whole 21, I wish to record my trades. I am not quite sure I have anything that could be interesting to anybody, or is anywhere close to a trading procedure. All I know is when I examine it, on any pair, I determine to trade, when I should put in and when I should escape. Am I successful 100%, certainly not!!!! But I can tell you I am kept out of more bad trades, then great ones (does this make sense).

    My first goal of this thread would be to trade only a couple of pairs to the month of December (in demo mode), documenting my moves, testing out different MM. Since I am trading off of the Day charts I do not expect to possess but only a couple of transactions although I'll be in trades for 7-15 days at one time.

    This is a really basic method which uses one particular indior (HMA Modified) to demone trend management, and two additional (Goldminer2 RSI Custom) to demone entry and exit points. The reality is one indior (HMA Modified) could be used to take trades, I just still can't believe that and want other indiors to make me feel great about my trade decisions. What I believe I discovered is the two other indior assist me get in at a better position to survive margin draw-down that comes with daily progr. I guess if this is actually correct, we all will see.

    Now, as much as I'd like to state I spend hours deciding on the appropriated combination of indiors, blah blah blah, I didn't think of this method. A FFF (Forex Forum Buddy) suggested a scalping method that I immediately applied to the daily. I did modify it a little, added that the HMA, deleted an indior I didn't feel did anything, and here we are. I don't have a name for it - many viewers here can help create one.

    That I have no MM or EA for this yet. If it turns out to be successful, I'll move it to the System Forum and allow the masses disect it, then alter it, fight it over, EA it to death (while I trade it is and make a lot of pips).

    I've attached a chart which is going to be the beginning of this thread. I am sure that you will see to trade this, but I will offer the method and template so thoughs that would like to follow along can. Please do not take my trades as signals for you - let me remind you I've blown a number of live account ! This transaction was taken by me at 4:00pm CST and it went away in my own favor as you can see. It's now 7:00pm and its still in my favor plus $38(Since it's sunday it is going to take a while for this transaction to actually get going).

    I am leaving for dinner soon so that I will put my way of investing in another entry later tonight. I expect others will come along for this journey, all opinions are welcome.

  2. #2
    This is another trade I shot at 4:00 CST depending upon the '___________ method. The prefered entry would have been Fridays Daily pub, but I believe it save to go into a sell trade today. At this time I am still $70, at the plus.

    Again I will post all necessary indiors, template and current rules later tonight - hopefully I can still say all is going well in that moment.

    Mitch

  3. #3
    Ok,

    So the HMA Modified shows you the trend (down and up). Most important would be to ch the trend color - you need to easy be able to ch it on three or two, although you will never ch it on the pub. You enter based upon the the two reduced indiors ( Goldmine RSI ). Here is how I work the process:

    HMA turns from green to red, in case the Goldminer is Red and the RSI is Red or Yellow, I take the trade - SELL

    HMA turns from red to green, even if Goldminer is Green and RSI is Green or Yellow, I take the Trade - BUY

    Once in a trade if the HMA changes color, I depart the trade.

    You'll also notice yellow arrows on the chart - these are Bykov indiors. This was a part of the system that this methode originate from. Even though they are not an intregal part of the approach, they do suggest exception trades, so if I'm in a trade and one appears - good. If I'm not in a trade and one appears, no matter the management, I prepare to escape the trade and take the commerce in it is directions.

    Although I have no particular historic backtesting, I'm really seeking to applied forward testing (that is what this is all about), I believe that most commerce will last between 7 and 15 times and should earn between 500 and 1500 pips per trade.

    Well that it is, like I said I know it can not be that easy, within the next month we will see if this is something that is worth the long term test.

    If you're interested in following along, I'll be happy to provide the indiors and template - just give a shout.

  4. #4
    Initial day has ended and both EURUSD and GBPUSD are in profit however, the lower indiors are showing counter trending therefore I'm likely to take profit out of both and escape from these trades. Total profits $580 - great!

    I took one new trade - EURCAD. The HMA is revealing a down trend and that I have a Red/Yelllow combo in my lower indiors. What I like about this trade is that I got a arrow pointing down. I expect trade to go in my favor by about 250 pips.

    Among those problems I am seeing is that the Goldminer indior repaints. Whether I will be really hurt by that in the long term, I don't know - as we proceed must continue to keep your eye on this.

    Though I am really trying to exchange just once a day, I'll take a look at things later in the day (arounf 11:00pm CST) to see if any believe has shifted and a good trade presents itself.

    Great pips to all.
    Mitch



  5. #5
    I chose to choose another transaction, this one is a small test to find out how well I can jump right into a trade once the trend has been previously set by three or four bars. The reason is because of the double bars in the indiors following a Bykov arrow. My confidence is pretty high this will lead to favorable pips (ideally about 150 at the end of day tomorrow), then again this is my own egy, if I am not positive who is.

  6. #6
    I mess up now, I had two trades in drama (EURCAD and USDJPY) and I phased out the EURCAD. It was going in the wrong direction (-$100) but I must have held on to it, I will keep on eye on it and report it has ultimate success or failure.

    My current open trade, USDJPY, that was a test of entering into a trade a few bars after the initial sign, also did not respond as expected but it's still in play. It is currently -$27, not bad and all indiors nevertheless show a downward trend (see chart). We will see this move within our tomorrow.

    Nothing new now, so that's it till tomorrow.

    Mitch

  7. #7
    I got the goldminer free with a few of the many EAs I've purchased and canned. I cant remember which one.

  8. #8
    Todder,

    I also got it as a bonus to a few of the countless scam EA I have purchased. I really enjoy it but it will repaint (although it repaints usually at the conclusion of the trend).

  9. #9
    I just had 1 open trade overnight, USDJPY, and it had no real movement, The sign is still to go brief so I am hanging on to it for now.

    Once I was reviewing charts I detect that I never should have gotten from GBPUSD, therefore I re-entered it since it's still showing a sell signal. I also have placed trades on the following pairs, nearly all after the first sign has been given (I am still testing out this method).

    Were still up for the week, I will gather a summation at the end of the week.






  10. #10
    Quote Originally Posted by ;
    Hi,

    First let me make sure everyone knows:
    1) I am a newbie, been trading only about a year
    2) I've blown lots of account
    3) I don't have any idea what I am doing
    You really have to start here. It sounds cute, but it is in fact the real begining of if the 1st of all
    that the ah-ha' moments will start to happen to you. This is a good thing.

    Make the conscious effort to realise this is where you're in your advancement and are aiming to improve.
    It's almost like when people get religion and slowly start to start to understand spiritual things on a deeper level.

    Larry Flynt, publisher of hustler magazine and also a few other pretty good smut, became a born again christian,
    began having all kinds of ah-ha moments, but abandoned the journey when he was shot and paralyzed.
    Some time later in a meeting, when asked what happened, '' he told the reporter, I thought I had been speaking to GOD.
    So I took some LIBRIUM and it went away. I am okay now.

    My primary point is: Don't abandon the journey. Don't take the Librium. Allow the voices talk.
    Allow the ah-ha momenets in your trading to take you from here to the next stop on the way.

    My other point is: See Hustler magazine at the same time you trade. It's good for you.

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