Advanced Structured Forex Trading

[7thSignalTrader]

I'm placing my Entry 10 pips below the Dashboard Entry at $1.1903, which should be within the Entry margin of error, since I missed the quick blip up to $1.1918 from the Open at $1.1913 and because the margin of error should carry me.

 

[7thSignalTrader]

Swing Trade signal still not "On". This is an historical first for this version of the system. The system really does see problems with the long-term long side potential here. Hmmm, very interesting indeed as the next session will be starting on Wed. That would be mid-week without a Swing Trade signal. Something I've never seen before. So, it looks like I'll be learning a lot this week.

 

[7thSignalTrader]

There most definitely will be a move down from here to test the Stop order "currently" at $1.1888. Keep in mind that this is a real-time (dynamic) system, so the Stop and Limit, just like last session can move slightly. So, $1.1888 might get changed. If it does and if I am around, I will make the post showing the movement in the Stop and Limit.

The Short Blade is showing $1.1873 coming into play. It is "Off" right now, but the price can still be seen as possible where the Long Apex initiating at $1.1872.

Minus any adverse news (as usual) this should prove to be a surgical operation of sorts. The configuration here is an older Short configuration from a previous version which would play into Ben's event on Wed.

Just trying to let you know what's running through my mind - I'm trading the system, however and not what is in my head, or my emotions.

 

[7thSignalTrader]

Just noticed: Can't seem to shake that "Inside Channel Short" indicator, nor will the "Bias Short" convert for me. I was hoping to see them roll over, but there's something about the data that is keeping the system from rolling those two psychological indicators over to Long.

The Bias flipped a few times last session to "Bias Long" and I thought that she would fully convert on this session along with the Channel indicator, but no deal thus far. We'll see how this all plays into the continual "Off" indication for the Swing Trade signal.

 

[gus]

I have not been watching the whole T2W board for some time and missed seeing your posts until now. I need to go back and reread from the start to get a grasp of what you are doing - but I want to congratulate you on what you have done so far and encourage you to continue posting.

Thanks, gus

 

[7thSignalTrader]

I have not been watching the whole T2W board for some time and missed seeing your posts until now. I need to go back and reread from the start to get a grasp of what you are doing - but I want to congratulate you on what you have done so far and encourage you to continue posting.

Thanks, gus

Well, Gus - welcome aboard! I'm just doing some various testing and comparison trading here, as I wrap-up my project long-term. It has been 6 year project that is closing down soon. I'm just playing with some stuff right now as the system "certifies" itself given some changes I made about one month ago or so.

Read those posts where I talk about the different types of trades involved. The system has not yet given any of the "Advanced" trades yet, but I'm sure it won't be long before it does. If you have some of your own USD based pairs and your system can generate 24-48 pivots with entry into the long and short position within that same time-frame and your system uses conventional TA, then please post those trades side-by-side here.

I post at 0000GMT, 4:00pm pac, 7:00pm est, each trading session. I might not make every Sunday, but if not, then expect my week to start on Monday. My week ends on Friday's at 4:00pm est, 1:00pm pac.

Have fun.

 

[7thSignalTrader]

Note:

There are several volatility indicators within this system. One of them is called the Location Binding Variable, or LocBindVar (there are three (3) of them). When this particular one goes "inverted" (upside down) it typically predicts high hourly volatility for the next trading session.

Well...it is inverted and that is not typically a good thing for striking Day Trade signal targets, given all the movement around the Open price. So, the level of hourly volatility this session will be interesting to watch unfold.

However, given the market's bent for wait for Ben's first speech, that could place a damper on "some" of the Inverted LocBindVar volatility indication. Just another thing to watch far.

 

[7thSignalTrader]

I thought this was interesting from another forum. The writer, while attacking another's success, said the following to a fellow trader:
-----------------------------

"(Name if Person Being Attacked) -

I completely respect your belief that the markets can, in fact, be beaten if we are willing to invest the time and effort to learn. You also state that risk management is key. But it's this closing paragraph that gives me pause.

You highlight a trader who realized at $7,000 (or 350%) gain off of a $2,000 equity basis in one month as the archetype of a successful trader. I don't see how you can do this with a straight face. No trader should ever aspire to get that lucky. There is simply no prudent risk management/position sizing strategy out there that would allow for that type of gain. A good example of why this is the case can be illustrated by the fact that not one King of the Mini winner has ever won twice.

If you've ever played poker with a beginner you know never to bluff them - they'll always chase the cards and call your bluff - and will end up taking all your money. The same is the case for new traders who put on huge positions: the short-term may prove fruitful, but it's HIGHLY probable they'll be back working the night-shift at McDonald's in two months time.

Best of luck to you and your wife!"

---------------------



So, let us have some fun - no skin off my nose.

I'm going to start not with $2000, not with $1000 and not even $500.

I'm going to start a project with $980.00 (US) and within 13 lives trades, try my level best to move that $980.00 up to approximately $7,017.50. That would be an approximate 817.94% net gain on capital. Not normal according to the writer.

The writer here, said that this should not be doable with a straight face and that McDonalds would be in the very near future of anyone who tried within two months. The writer also said that there is no prudent money management strategy that would account for this kind of growth.

I'm not going to use any names here, because that is not what this is all about. However, when I scan the net for trading stories of those who bucked the odds, I like to put both the odds buster and the attacker to a test. So, both shall be tested here, in this thread.

This is just for fun. I'll start with this trade and we shall see how things go. The MM status would look like this:

Starting Account Balance: $950.00 on Feb 14th, 2006
Leverage: 200:1
Cost Basis Per Trade: 40%
Average Net Pips Per Trade: 25
Total Number of Trade Required: 13
Withdrawal Rate: 10% per trade (can't eat Hamburgers every night)
Reinvestment Rate: 90% per trade (got to keep things rolling)

Trade Number 1:
Feb 14-15
Cost Basis: $392.00 (rounded)
Balance After Trade: $1,155.50 (rounded)


Trade Number 13:
Mar 3rd'ish (+/-) give or take
Cost Basis: $2,600 (roudned)
Balance After Trade: $7,770.50 (rounded)

Total Net Gain: approximately 800+%.
Total Time: approximately 13 trades.

Let's call this project: Mission Impossible 7. Or, MI7 for short since MI6 is already in the making.

Buckle Up!

 

[soccer_daemon]

Hi 7th,

From elsewhere I remember LocBindVar reset was mentioned under a certain
condition but unfortunately, the msg was lost soon after that.
Not exactly sure what u meant by a reset, same as "inverted" mentioned here ?

If I am tracking your trade accurately, I have:
TRADE: DAILY LONG
ENTRY: $.1903
STOP: $1.1888
LIMIT: 1.1958

Hope this is correct.

Thanks
SD

Note:

There are several volatility indicators within this system. One of them is called the Location Binding Variable, or LocBindVar (there are three (3) of them). When this particular one goes "inverted" (upside down) it typically predicts high hourly volatility for the next trading session.

Well...it is inverted and that is not typically a good thing for striking Day Trade signal targets, given all the movement around the Open price. So, the level of hourly volatility this session will be interesting to watch unfold.

However, given the market's bent for wait for Ben's first speech, that could place a damper on "some" of the Inverted LocBindVar volatility indication. Just another thing to watch far.

 

[Compounding]

I thought this was interesting from another forum. The writer, while attacking another's success, said the following to a fellow trader:
-----------------------------

"(Name if Person Being Attacked) -

I completely respect your belief that the markets can, in fact, be beaten if we are willing to invest the time and effort to learn. You also state that risk management is key. But it's this closing paragraph that gives me pause.

You highlight a trader who realized at $7,000 (or 350%) gain off of a $2,000 equity basis in one month as the archetype of a successful trader. I don't see how you can do this with a straight face. No trader should ever aspire to get that lucky. There is simply no prudent risk management/position sizing strategy out there that would allow for that type of gain. A good example of why this is the case can be illustrated by the fact that not one King of the Mini winner has ever won twice.

If you've ever played poker with a beginner you know never to bluff them - they'll always chase the cards and call your bluff - and will end up taking all your money. The same is the case for new traders who put on huge positions: the short-term may prove fruitful, but it's HIGHLY probable they'll be back working the night-shift at McDonald's in two months time.

Best of luck to you and your wife!"

---------------------



So, let us have some fun - no skin off my nose.

I'm going to start not with $2000, not with $1000 and not even $500.

I'm going to start a project with $980.00 (US) and within 13 lives trades, try my level best to move that $980.00 up to approximately $7,017.50. That would be an approximate 817.94% net gain on capital. Not normal according to the writer.

The writer here, said that this should not be doable with a straight face and that McDonalds would be in the very near future of anyone who tried within two months. The writer also said that there is no prudent money management strategy that would account for this kind of growth.

I'm not going to use any names here, because that is not what this is all about. However, when I scan the net for trading stories of those who bucked the odds, I like to put both the odds buster and the attacker to a test. So, both shall be tested here, in this thread.

This is just for fun. I'll start with this trade and we shall see how things go. The MM status would look like this:

Starting Account Balance: $950.00 on Feb 14th, 2006
Leverage: 200:1
Cost Basis Per Trade: 40%
Average Net Pips Per Trade: 25
Total Number of Trade Required: 13
Withdrawal Rate: 10% per trade (can't eat Hamburgers every night)
Reinvestment Rate: 90% per trade (got to keep things rolling)

Trade Number 1:
Feb 14-15
Cost Basis: $392.00 (rounded)
Balance After Trade: $1,155.50 (rounded)


Trade Number 13:
Mar 3rd'ish (+/-) give or take
Cost Basis: $2,600 (roudned)
Balance After Trade: $7,770.50 (rounded)

Total Net Gain: approximately 800+%.
Total Time: approximately 13 trades.

Let's call this project: Mission Impossible 7. Or, MI7 for short since MI6 is already in the making.

Buckle Up!

Well, im anxious to see how MI7 will play out....

 

[soccer_daemon]

Hi Compunding

Well, im anxious to see how MI7 will play out....

Sent u email saying I don't know where to get free s/w u after ... :?:
Good to see u here man!!

SD

 

[7thSignalTrader]

Hi 7th,

From elsewhere I remember LocBindVar reset was mentioned under a certain
condition but unfortunately, the msg was lost soon after that.
Not exactly sure what u meant by a reset, same as "inverted" mentioned here ?

If I am tracking your trade accurately, I have:
TRADE: DAILY LONG
ENTRY: $.1903
STOP: $1.1888
LIMIT: 1.1958

Hope this is correct.

Thanks
SD

Soccer,

I'm actually sitting tight with a Limit Entry Order at Day Trade Entry minus 10. So, yes - I will be $1.1903 Long, but the darn thing took off while I was posting the pic of the Dashboard!

By the time I got back to my trade execution screen to enter the order, it had blipped up several pips above my optimal entry which in this case was the Open price shown on the Panel.

I hate it when that happens. But, that's life - sometimes it moves too fast right at 0000GMT. So, the actual Entry should be what the Panel indicates, I just was not able to get there in time, so I dropped my entry to minus 10 pips which is within the system's normal margin of Entry Error. That is SOP for me whenever I missed Entry. Sort of like a missed approach to a landing – you just “go around” and make the approach again but probably with a shorter final leg.

 

[Punch]

Are you modifying anything, or taking standard values?
Could you post these near the 0000GMT, 4:00pm Pac, and 7:00pm East time frame just so I can see them before hand?
Are these 24-48 hour projections?

Tonight, I'll add two items to the mix -- modified pivots and predicted high and low.

Time of day is a key element of my calculations. I need to feed the midnight eastern close into my model. The pivots are valid for 24 hours.

For EUR/USD

Traditional levels:
Resistance: 1.1977 and 1.1948
Pivot point: 1.1903
Support: 1.1874 and 1.1829

Modified levels
Resistance: 1.1963
Support: 1.1877

Predicted:
High: 1.1944
Low: 1.1826

These three sets of levels are each calculated with a completely different method. They can conflict.

 

[Compounding]

Sent u email saying I don't know where to get free s/w u after ... :?:
Good to see u here man!!

SD

Got your email SD! Good to see you here on this forum too. Everyone is all here, so i guess class is..... ooh oh! where's echelon4x? we can't start the class until everyone is present . Oh well, not my fault he's late . Well, i've got my book and my pen out and im ready to take notes! whats that? no chewing in the class? Oh man! sorry teach

 

[7thSignalTrader]

Feb 14-15 Dashboard Panel Update at 12:25am Eastern, 9:25pm Pacific:

See pic below. I was hoping to get a quick 15 minute bar drop into the Entry Zone much sooner than this. We are now 6hrs into the session and I was expecting to get a re-entry opportunity long before now. I think much of this has to do with pending news. I am not a new player as stated repeatedly before.

1) I need to go to bed and get some sleep.

2) I don't trade to close to news announcements - especially when those announcements are opposing my trade signal. Ben will be in front of Congress in the morning.

3) I have scrap profits on the table right now.

4) There is no counter-news scheduled at the same time to off-set the news that opposes the trade signal in the morning.

Just so you understand how I do this - if I had been in the Day Trade now (had I not missed the entry due to the quick move up before I could post the Panel for this session), I would take these scraps off the table and exit my position because of the looming adverse news.

Why is this new "adverse"?

Simple - everybody by now understands that the house money is on Ben to be Hawkish at least and actually come out and say that rates are going up, at the most. This flows capital into the USD and out of the EUR, which opposes the system's Day Trade signal. Therefore, I would take my tiny pip gain now and live to fight another day.

This is twice this week that I have taken smaller pips because of opposing/adverse news. I don't like guessing in this business and to me pre-positioning a trade before a new release (especially one that opposes my trade signal) would be one of the purest forms of guesswork that I could possibly imagine. So, I would be out of this trade now.

VERY IMPORTANT:

The Day Trade Long signal has not gone away and it will still be there AFTER Ben speaks. So, this could actually turn into a very late re-entry scenario, if Ben sends the price down to between the Day Trade Stop level AND the Long Apex Entry level.

So, let me repeat: I will CHECK a possible re-entry Long after Ben speaks and "if" the price drops between the Day Trade Stop level ANB the Long Apex Entry level.[/b] That would give me a very good probability for a successful Long trade that may need to be held into Thursday's session.

If this happens, I'll make the move and post my decision with a pic of the Panel at that time. That's my strategy for this particular news vector coming up.

Can't stand news - don't like news - don't want anything to do with news, etc.

Goodnight all.

 

[chuck5803]

7th,

I have been looking at your Tactical Dashboard and I was wondering about the "Capture" column. I understand the "Expect" and "Remain" columns, but does the "Capture" column represent the pips you have "permanently" captured, such as pips protected by a Trailing Stop (and that no matter what the currency does you cannot loose those pips) or are they "potential" pips that you would get if you were to exit the trade immediately?

Thanks,

Chuck

 

[FetteredChinos]

http://www.forexfactory.com/forexforum/showthread.php?t=2964



also know as Tradevector or Turbine Trader on the Dailyfx boards..

older hands may remember him on here...

 

[7thSignalTrader]

http://www.forexfactory.com/forexforum/showthread.php?t=2964



also know as Tradevector or Turbine Trader on the Dailyfx boards..

older hands may remember him on here...

Or, Yahoo's LiveForexTrades, or EliteTrader, or several other boards that I've posted on because that what "real" Traders do - they trade, discuss trading, design trading systems, and they get "involved" with the "real" trading community.

The trading technology GUI that you see in this thread has been in Prototype form for almost 5 years and in Production form for almost 1 year. I've been in the online trading community for about 6 years total. This trading system has passed through several generations of code, from the 1st Generation to the now current 5th Generation. In each prototype phase, I gave the system a unique identifier to separate it from its previous generation.

The 1st Generation of code was the "TradeVector" prototpye. I used that userid online as the TradeVector project was a spin-off from the very first "X"-project when the system had no name. The 2nd Generation of code was the "StealthTrader" prototype and I used that userid online for quite sometime as the system grew. Because there was major overlap in the code and major rapid change in the underlying system, I tended to use StealthTrader AND TradeVector online at the same time identifying TradeVector as the creator of StealthTrader (for online purposes). However, there were basically two system concepts being designed at the same time. Most will know me by StealthTrader, the original.

Over the years and as the system grew through its generations of code changes and system prototype identifiers/names (userid), I eventually Certified the application and converted it from Prototype, to Production. The Production name for the trading application is 7thSignalTrader. It is the first production version of the system now in its 5th generation of code at version 6.0.

Multiple prototype names, multiple userids to represent the generational gaps over the course of multiple years (6 to be exact), and in every case, always discussing the exact same content, issues and substance relative to the excact same system as it developed over the years regardless of the prototype name, code generation or application version number. I could have done things differently, but that is the way I chose to do them. Another person might choose a different path.

I also have other userids for aviation sites, math sites, science sites, politics, sports, cars, business, art, etc. I don't use the same userid on every site I've ever visited on the internet and I'm not sure who does do that. 7thSignalTrader, does not work at www.aviationforum.org, or www.airliners.net, etc - it just does not fit. So, I use a relevant userid for the type of forum I'm using.

So, the question has been asked and answered. Reading the record might help.

 

[FetteredChinos]

"yes", "but" "I" "think" "you" "will" "find" "that" "the" "management" "don't" "take" "too" "kindly" "to" "multiple" "aliases"

"and" "as" "for" "reading" "the" "record", "I" "am" "afraid" "I" "have" "trouble" "concentrating" "when" "reading" "your" "excessive" "verbiage". "As" "a" "result", "I" "might" "miss" "a" "few" "points" "here" "and" "there".

FC

 

[7thSignalTrader]

Feb 14-15 Dashboard Panel at 12:49pm East: (see pic below)

So, my hunch about the news turned out ok and pretty much on target for the Blade and Apex thus far. Very interesting to note what actually happened before the news.

Note on any 15 minute chart that at the time of my Limit Entry Order for Long at $1.1903, the price had blipped up to about $1.1934. It then ran into the Entry Margin of Error and struck the $1.1903 level triggering the Long Entry at Entry minus 10.

Directly after that, it began to meet the needs of the Day Trade profile despite the looming news on the horizon and move up to $1.1957, about 7 pips away from the systems target. As the news broke, the price then ripped away from the Day Trade profile and plunged through the Stop at $1.1888. So, while I can't say with certainty that the remaining 7 pips in the profile would have been Captured, I can say with certainty that I am very happy with the system's performance in the last two news cycles as it has shown the ability to still go after trade profiles despite news, or at the very least, break-even despite opposing news. Very happy to see that.

Now, since I took the high-road and decided to take my 9 pips last night and not fool around with news - I was flat throughout Ben's first speech and stated last night that I would consider a re-entry if the new pushed the price into the Long Apex Zone which it has.

So, I went Long at $1.1888 (the original Day Trade Stop) with a Stop at $1.1863 (my standard 25 pip Stop). Thus far the trade is down 6 pips and had a max draw down of 19 pips under news. This might (most probably) will need to run into Feb 16's trading session.


(sorry, forgot the dash)