Advanced Structured Forex Trading

[7thSignalTrader]

So, if I'm right in the reading of 7th Signals charts. . . he was stopped out on his EURO short???

Thanks,
Kendog

No, Kendog. There are no charts used in this system. You might be referencing the Dashboard posted Sunday, early evening.

a) This is a Swing Trade currently in progress
b) This is a dynamic trading application
c) All targets (Stops and Limits) and subject to change in real-time by the system
d) The Dashboard is not static

All you get to see on this forum is a snap-shot of what the Dashboard looked like at the time I took a snap. The engine behind the Dashboard updates its Trade Signals once every 24 hours at 0000GMT, 8:00pm Eastern, 5:00pm Pacific (hours slightly altered for Sundays). Its real-time Indicators and price targets are generated in real-time. (I wrote about this in several other posts previously from different angles).

The system expands and/or contracts its Limits and Targets as it deems necessary in real-time. The last Day Trade Stop was adjusted in real-time by the system to $1.2427 last session and its Limit was contracted by 8 pips as well and then expanded back to its original projected by the end of last session. That’s the nature of the system and how it works in real-time.

Depending on what the system sees at the time, it will make small to moderate target (Limit and Stop) adjustments in real-time where I can make those changes in my trading platform on the fly. When the system makes a change, I update my trading platform - for all trade profile types. The system will rarely, if ever get stopped out and when it fails, it typically fails to strike a target as opposed to getting stopped out. If it does, I’ll post a pick as I have done in the past showing the Target Status (right side of the Dashboard) as Stopped. The word “Stopped” will always appear under the Target Status indicator section on each Dashboard.

Right now, no Day Trade profile has been executed.

HTH (hope this helps)

 

[Lighthouse]

So, if I'm right in the reading of 7th Signals charts. . . he was stopped out on his EURO short???

Thanks,
Kendog

Absolutely correct kendog

But you will find with this system and 7thSignal (read the post above this one) that he is NEVER stopped out - that is because his system is supposidly dynamic and automaticaly adjusts the trades. However he will never actualy post the changed exit levels at the time, only come on a couple of hours later and explain how the system predicted 99% accurately even though it's there in black and white how he got stopped out.

Whenever this is pointed out by someone you normaly get a whole load of abuse etc.

But the bottom line is yes, the trade was stopped out. and it happens more often than not.

Day trade : status ON, RELEASE CONFIRMED : Short 1.2368 target 1.2310 stop 1.2415

Result : STOPPED OUT MINUS 47 PIPS

Black and white, lets see why now that is not the case. should be interesting

This guy is an absolute joke, I'ce been following his TurbineTrader & Tradevector journals for a while. he loses more often than wins yet still comes on blagging about how incredible he is.

Most people know what a fruitcake he really is

 

[Lighthouse]

The system will rarely, if ever get stopped out and when it fails, it typically fails to strike a target as opposed to getting stopped out.

I've just realised where I've been going wrong all these years !

My trades never get stopped out, they just fail to reach their target ! That takes the biscuit, it really does

He has also on numerous occasions explained that his system does not actualy place the trades he has to do that manualy, but yet when it "moves" the stops and targets even if he is not there then somehow all the trades are adjusted ? and then as in this case put back to the original levels.

He will ALLWAYS come back 6-7 hours after a stopout and have 10 reasons why he wasn't stopped but will never post the trade adjustments close to the event ime

Anyway - let's see if he's dug himself another hole, let's say for the sake of argument that the trade is still live, it will be interesting to see where the system got him out in profit when the price goes to 1.25 this afternoon.

Trust me he will come back and say it's a winner.

Watch this space :!:

 

[echelon4x]

Guys,

Did you read 7th's first post of the week's trading where he said he would be trading the swing trade signal from the console and not the day trade ?

I agree that the price move yesterday came a bit too close for comfort to 7th's day trade stop as it was at the time that it was shown on his console screen capture - on my platform the high shows as 1.2413 and 7th's day-trade stop was showing as 1.2414.

7th's system is not like a signal providers system where a position is decided and then never changes until it reaches target or gets stopped out - this system is much more dynamic and has the ability to think its way through trades and adjust stops and targets accordingly as the trading day progresses. This is why 7th sometimes ends up only taking a handful of pips when the screen capture at engine update time may anticipate many more.

On the subject of targets - 7th's system is normally uncannily accurate. However great a system is at prediction, there are always going to be some cases where prevailing news upsets the technical applecart (which is what happened yesterday).

I believe that had 7th traded the day trade signal (he's only trading the swing trade currently), the system would have done one of two things:

1) Dynamically adjusted the target / stops to allow for a much smaller gain of pips than the 58 expected at engine update time.

2) Converted the day trade into a "recovery mode" swing trade.

This is only my understanding, I'm sure that if 7th has any spare time he'll be able to tell us how the system would have handled that day trade call.

Cheers

Mike

 

[Lighthouse]

Guys,

I agree that the price move yesterday came a bit too close for comfort to 7th's day trade stop as it was at the time that it was shown on his console screen capture - on my platform the high shows as 1.2413 and 7th's day-trade stop was showing as 1.2414.

Cheers

Mike

And this morning (GMT) after he "moved" the stop yesterday and put it back to the original level we have a high of 1.2419

Lets call a spade a spade, and a loss a loss.

 

[Lighthouse]

Anyway - let's see if he's dug himself another hole, let's say for the sake of argument that the trade is still live, it will be interesting to see where the system got him out in profit when the price goes to 1.25 this afternoon.

Trust me he will come back and say it's a winner.

Watch this space :!:

Well my system just printed 1.2427 bid

So was he stopped out at 2415 originaly in which case he lied or did the system adjust again to 2427 for a 59 pip loss.

Lets wait and see shall we :cheesy:

 

[7thSignalTrader]

Banned List (No-Fly-Zone) of Internet Trolls. :idea:

Begin List

7th Error9000
FetteredChinos
dcraig1
Ripcord
Lighthouse

End List

Any replies and/or quotes from people on this list will be enough to add your own uid to the list until the moderator decides to do the right thing.

 

[7thSignalTrader]

1) Dynamically adjusted the target / stops to allow for a much smaller gain of pips than the 58 expected at engine update time.

2) Converted the day trade into a "recovery mode" swing trade.

This is only my understanding, I'm sure that if 7th has any spare time he'll be able to tell us how the system would have handled that day trade call.

Cheers

Mike

Echelon4,

I've repeated this so many times that I'm simply not going to do it a gain. Anyone with the ability to read and comprehend plain English fully understands what you have just repeated as a result of reading what's been written. So even replying to internet trolls like like is pointless. Just update your Banned List of Internet Trolls and move on.

Thanks.

 

[Lighthouse]

And that's the answer you get ladies and gentlemen when you point out a failed trade, one of many.

As far as this guy is concerned it never happened !!

I REST MY CASE

As said in my earlier post. He will allways come back 6-7 hours after the trade was stopped out and give some reason why it wasn't.

 

[7thSignalTrader]

4/23/06 to 4/28/06 Swing Trade Update & Observations II

Begin Update:

Current draw now 63 pips which is approximately 63% of the max Swing draw allowable by me under this system and one of the primary reasons why I don’t like to Swing as a matter or routine course. A basic battle of Rates, is causing EURUSD increases early this week. The belief that European rates will increase and the belief that US rates will either remain flat or see the end come to its tightening cycle, is most likely the causal relationship for the two day turbulent rise in the price of the pair. Tuesdays, are typically days that move against Swing Trade Profiles, historically – with Wednesday through Friday moving the price back into the profile.

Monday, being the first moving day for Swing Trade profile in this system – Wednesday, being the second – if the move will be made this week then it will be initiated next session. With this trading system, there is typically an “initial move” always in the opposite direction of the primary move for the profile. With Swing Trades, everything is magnified above and beyond that of routine Day Trade profiles.

So, net gains/losses are bigger, net/gross draw-downs are bigger and time-lines to complete trades are also bigger/longer. System’s average drawdown for Day Trades is 31 pips. System’s average drawdown for Swing Trades is 65 pips. Current real-time draw on this Swing Trade = 63 pips, so thus far, things are within specs two days into the profile with four (4) touches down to the break-even point within the same time-frame since the start of the trade. Ave draw-down this trade = 37.5 pips, a basic yawn for Swing Trade profiles.

Hourly volatility has been high and is expected to be when the price moves against a Swing Trade projection. Expect more/increased hourly volatility and most Day Trades to get whipped around fairly well for the remainder of the week. Wednesday, will be a pivotal day for any chance of a mid-week strike on the Swing target. System has now moved Swing Trade target to $1.2223.

Probability for extending Swing from 5 up to 10 days: Moderate to High.

End Update:

 

[Lighthouse]

4/23/06 to 4/28/06 Swing Trade Update & Observations II

System has now moved Swing Trade target to $1.2223.

Probability for extending Swing from 5 up to 10 days: Moderate to High.

End Update:

Stay tuned folks !

The day trade loss has been conveniently brushed under the carpet,

however he is still short from the same 1.2368 on the swing trade with NO stop and a 1.2223 target.

Also each trade uses 40 of totaly equity so should be interesting if we get to 1.2590 or 1.2690

We'll just forget about the loss today, it messes up the 98% success rate :idea:

 

[zuke]

Banned List (No-Fly-Zone) of Internet Trolls. :idea:

Begin List

7th Error9000
FetteredChinos
dcraig1
Ripcord
Lighthouse

End List

Any replies and/or quotes from people on this list will be enough to add your own uid to the list until the moderator decides to do the right thing.

Isnt your system robust enough to handle constructive criticism then? Why have a ban list when people point out what it obvious (i.e. that you made a loss)? It's very dissapointing that rather than calmly answer people's legitimate questions, you seek to demonise them. This forum is supposed to be a LEARNING exercise, not a place for people to make out that they are the second coming of Sorros. You need to grow up.

 

[jezza888]

Isnt your system robust enough to handle constructive criticism then? Why have a ban list when people point out what it obvious (i.e. that you made a loss)? It's very dissapointing that rather than calmly answer people's legitimate questions, you seek to demonise them. This forum is supposed to be a LEARNING exercise, not a place for people to make out that they are the second coming of Sorros. You need to grow up.

Funny, thats what I thought too!

 

[Ripcord]

Guys

Give the man a break come on.

Do you know how hard it is to trade when you've got to get all those supercars serviced and polished.

Then of course you have to give Tiger Woods a quick golf lesson before taking Jennier Aniston out for a quick lunch and advising her on where she is going wrong with men.

And thats all before you have to sit down and count your money.

I think Mr 7th Signal has been watching reruns of Fantasy Island!!

 

[jezza888]

This thread does surpass 'Joke of the day' for humour at times!

 

[Lighthouse]

4/23/06 to 4/28/06 Swing Trade Update & Observations II

Current real-time draw on this Swing Trade = 63 pips, so thus far, things are within specs two days into the profile with four (4) touches down to the break-even point within the same time-frame since the start of the trade. Ave draw-down this trade = 37.5 pips, a basic yawn for Swing Trade profiles.

Wednesday, will be a pivotal day for any chance of a mid-week strike on the Swing target. System has now moved Swing Trade target to $1.2223.

Probability for extending Swing from 5 up to 10 days: Moderate to High.

End Update:

Whoopsie daisy !

Current drawdown 100 pips and 240+ pips away from target.

Not looking good here

If you want some advice I would double up now with a short at market (1.2467) with a SAR above 1.25 If it doesn't get to your target at least you get out with less damage, and if it does I will give you the name of a charity I expect you to donate to.

Just trying to be helpfull don't you know

p

 

[7thSignalTrader]

I think if any of you knew half of what you were talking about, you'd be very wealthy by now. I'll ignore those pretending to be "learning something" and continue because typically the biggest mouths on a forum like this have no trade journal of their own, nor do they really trade the markets on a consistent basis with any real degree of equity growth over time – but they do make good mouth pieces and not much more than that.

You can't find a single thing wrong with my "banning" people who have nothing but an agenda of disruption. That's not demonizing anyone – that’s called ignoring fools. A fool runs his mouth when he does not understand what he’s saying – much like the clowns who have come into this thread with off-topic lunatic rants – that’s a fool. A wise person asks legitimate questions and does not make assumptions, especially when the answer has been placed right under his nose.

Lighthouse is Profx from www.dailyfx.com. He’s an Internet Troll of epic proportions and not a trader. He’s executed orders on USDCAD that have crashed and burned on several occasions with one of them getting stopped out at over 200+ pips back in early April (http://www.learncurrencytrading.com/fxforum/showpost.php?p=73465&postcount=4797).

No intelligent person has read his comments here and thought they were “questions”. He’s told lies, as he typically does, but there have been no on-topic questions about a trading technology that he knows nothing about. Now, I would consider myself a darn fool for assuming that I knew something about someone else’s trading system that I did not build myself, but any intelligent person would feel foolish doing that and only a fool would feel comfortable doing the same.

None of these last four (4) posts from either of you have anything to do with this thread, this trading system, the trades themselves or for that matter anything worthwhile continuing a discussion on. If you think this thread is humorous that’s fine and it is most likely because you are jealous – simple. No skin off my nose and your foolishness has nothing to do with me.

Now, if you have a Trade Journal of your own (most naysayers don’t because they really don’t know what they are doing in the markets to feel confident enough to put one up consistently) then get to it and go maintain it. Otherwise, sit down, shut up and try to learn something that you don’t already know.

The Troll list of clearly for people that belong on such a list and anyone with half a brain can clearly see that and the need for such a list.

 

[Lighthouse]

No problem

ON TOPIC : You were stopped out but have failed to acknowledge the fact.

That brings EVERYTHING you say into question.

I'll let you continue digging your own holes. You have been banned from just about every forum in existence.

Including probably this one under the names of TurbineTrader & TradeVector

You really do live in never never land, which is probably a 1 room basement flat somewhere with a pushbike outside .

Later

 

[7thSignalTrader]

4/23/06 to 4/28/06 Swing Trade Update & Observations III

Begin Update:

Before the news, the real-time draw came down to 16 pips which for a Swing Trade profile was well within par range. Prior to the driving up on the news this session the trade tapered down on its routine Wednesday schedule to $1.2384 (a 16 pip draw). At this point, the upside movement from the open of this week was 69 pips and the downside movement from the open this week was 34 pips.

If this were a true Long side Week, then I would have expected to see significantly more than a 69 pip move in 3 days on a Swing Trade profile. This tells me that absent the EUR prop-job that it has gotten this week from the news (mostly rate differential expectations between the US and Europe) the “technical” tendency was for a move down this week.

With today’s news prop, the EURUSD has just made 100 pips from this week’s open to 34 pips from this weeks close. Every trading day this week, there has been one or more hard drives down to the short side during each 24 hour session. That’s not the sign of a pair “wanting” to go higher absent news propping it up. Oversold is the indication on a Swing basis and a severe correction is over-due by 72 hours. On every attempt to plunge Short, the EURUSD was bailed out on some kind of propping-up news announcement.

In contrast, when I look around the business, I see pure Day Traders getting stopped out routinely this week on the EURUSD as they witness what they call ”choppiness” in the market. That “choppiness” is being causes for a very simple reason: News propping up a currency pair where its normative “technical” price behavior would otherwise have seen it plunge to the short side. That is what’s causing the added volatility and I indicated that such volatility would be in full-force for the remainder of the week.

It is a classic battle between normative technical EURUSD behavior and prop-job news in full force. If I’ve seen these classic battles once, then I’ve seen then at least a thousand times before and they typically end up in a scenario of panic selling or panic buying – typically triggered or aided by some larger scale fund.

The last big news hurdle this week will come from the Chair of the Fed, Ben, which should out-shadow US Unemployment numbers closing out the week. Also pending, Japan’s big 8 econ reports which are all looking neutral to nominally strong JPY. This could have some cross-over effect on the USD. Once key point is the Fed’s Beige Book –vs- the most recent US Economic production news. The Fed’s Beige Book was created using data from several weeks ago and the Fed did not have the most current data to use when it created the content of its Beige Book. The most current US Econ news does not show the same “slowdown” in the US Economy as their Beige Book readings would imply. So, it will be interesting to see whether or not Ben modifies his language on Thursday.

I’m expecting at least 2 more additional US rate increases as this new Fed Chair would rather error on the side of caution relative to fighting inflation in the US. The ECB is going to raise rates – period. That does not bode well for a Short Swing. However, Ben Bernanke and the Fed cannot stop raising rates this soon on the heels of the most recent news.

The biggest news vector in the currency markets is interest rates. When it comes to this type of news, currencies move on Interest Rate Differentials. Not the actual spread (which is commonly referred to) but the actual value of the rate differential. Right now, the US is above the 5.0 level and the ECB is just above the 2.0 level. There is a 2.X differential between the US and ECB Rates.

All it takes, is a modest statement to the “rate increase side” by Ben Bernanke, to restore the EURUSD back into its normative price behavior on a weekly basis. Right now, the EURUSD is in an abnormal price behavior phase which will get corrected.

Probability for extending Swing from 5 up to 10 days: Very High.

End Update:

 

[7thSignalTrader]

For the Historical Record:

It is strongly recommended that any new individual to this thread read the historical record of the Beta, Test and Production trades (read first post in this journal that describes all three) posted in this digital journal. Even in Beta and Test mode, the system has demonstrated well beyond the average results that you typically see being produced in some threads on the web.

The previous Swing Trades posted in this journal show well beyond "average" results. The previous Day Trades posted in this journal show well beyond "average" results and the Outlook Trades in this journal were at times staggering in their actual production.

Since I've been doing this journal this system has produced almost 1,000 pips in the aggregate between all three (3) trade profile types in just this trade journal alone - I've produced many others over the years. This should put things in their proper place and their proper perspective.

So, before you ask questions, make sure you review all of the digital trades posted in this thread and check the date/time stamps against your charts historical data as well for confirmation.