The more decisions you make, the better
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Thread: The more decisions you make, the better

  1. #1
    I'm beginning to examine a new trading egy. New for me, at least. I experimented with a few systems from different folks, but nothing convinced me. I didn't discover anything I could compare with trading my own conclusions. I really don't like signals, I do not like MA's, I do not like systems or EA's. I just like to appear at charts, draw some simple tech lines and that is it. Keeping it easy, infant.

    I finaly found something which suites me the best. Being a person that likes making decisions, I was frued with the fact that I had little practice opportunities. And do not let me check on smaller timeframes for more signals, I do not like small timeframes. They're noisy and unpredictable, so it's just gambling for me. So I began to take more decisions, opening more and more positions at precisely the exact same time.

    I just follow this theory:, statistically, your chances of success are. You'll become at making them. I am able to train my eye and brain more intensively by doing this. I also see results faster, though I use large timeframes.

    This is going to be just an experiment. I simply opened my first live account, but for a few weeks I will only do trades on the demo. When time will come, conclusions will begin going live, and I'll write about this.

    Basicaly, what will I do here?
    Well, I'll take as many trading decision as possible and open positions. Decisions will be pure technical, on large timeframes, and they'll be independent. For instance, I would not care if I start a very long AUD/USD plus a short EUR/USD in precisely the exact same time (contradiction with the USD, as you might see). I'll just do the technician analysis on every chart, and if it seems right for me, I'll jump in with a short or long position. I will try to do this daily, but there'll be periods when I'm out of town, or really busy with my own life. So don't anticipate decisions every day, though I will try to accomplish that.

    I always place stop losses and porfit goals when opening a position. The SL's and TP's will also be based on pure technical. I will establish the exact position size based on how far off my SL ought to be. I just take the acceptable risk for a single trade, divide it by the number of pips I neet to place my SL in and this may give me an notion of the pip value. Then I'll size my place to package the pip value.
    I'm not yet sure about when to close a trade. Until now, I never let a trade reach the TP, but maybe this will change in the future. We will live and see.

    I'll post the backward trades I did in the first two weeks (tomorow is the next person ) and their results a bit afterwards. Then, I'll continue to post conclusions as I make them, and update them with results as soon as I get them.

    Wish me luck

  2. #2
    September 25 16:31:34 2006 CDT Sell Market AUD/USD 0.7539
    SL @ 0.7600 / TP @ 0.7441
    =gt; trade still open

  3. #3
    September 25 16:38:58 2006 CDT Sell Market CHF/JPY 94.1000
    SL @ 94.73 / TP @ 93.23
    =gt; Commerce still open

  4. #4
    September 29 02:43:57 2006 CDT Buy Order EUR/USD 1.2660

    I have included a market order which will expire in a week from now. It says buy EUR/USD @ 1.2660, SL @ 1.2590 and TP @ 1.2871.
    1.2660 is a major resistance level. When you look at the daily chart you can see the price rebouncing several times previously from that level. Furthermore, if you draw a fib retracement in the 19 Jul low to the 21 Aug high you have a an important level in that area.

    September 29 03:06:16 2006 CDT Order Filled EUR/USD 1.2660

    Okay, my market order just got filled

  5. #5
    September 25 16:17:02 2006 CDT Buy Market CAD/JPY 104.4100
    September 26 12:00:51 2006 CDT Close Trade CAD/JPY 105.0400 =gt; 63 pips

  6. #6
    Quote Originally Posted by ;
    should you go long 1 lot AUD/USD and short 1 lot EUR/USD thats the same as going short 1 EUR/AUD....so its not contradictary. . .just means your betting on EUR/AUD.
    Great point.

    All I was trying to state was that I don't really care about the name in the chart window (the currency pairs involved). I simply do the tech, and if it comes up ok I open a carefuly sized place.

  7. #7
    September 25 16:25:38 2006 CDT Buy Market AUD/JPY 87.8700
    SL @ 87.10 / TP @ 88.80
    =gt; Commerce still open

  8. #8
    September 25 16:41:55 2006 CDT Buy Market EUR/CHF 1.5793
    SL @ 1.5735 / TP @ 1.5920
    =gt; Commerce still open

  9. #9
    September 25 16:47:16 2006 CDT Buy Market USD/SGD 1.5867
    SL @ 1.5812 / TP @ 1.5920
    =gt; trade still open

  10. #10
    September 25 16:50:48 2006 CDT Sell Market EUR/USD 1.2747
    September 26 12:02:35 2006 CDT Close Trade EUR/USD 1.2689 =gt; 58 pips

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