"First, I trade only forex (mainly the EUR/USD and USD/JPY)."- Why only forex?
"Then, yes, there is a lot of false breaks in the EUR and IRBs are hard to hop on."
-why are IRB's hard to hop on?
"without waiting for a setup to appear"- would that still be the bob method? or would that be something else?
-your questions to others about contrarian trading, shows that you appear to you see value in doing the exact opposite of what bob advocates. Why do you feel it necessary to develop a trading strategy without using bob's setups, doing the exact opposite to him?
"and right now, there are few continuations happening."- bob has been using this excuse for years now. To what period of time are you referring to by "right now"?
"and most of my bad weeks were related to my own errors (very often emotional response...)."- so bob gets the credit when you do well, but when the market does not go in your favour, you blame your own emotional response, is that correct?
"Now that you seem so enlightened (as usual),"- I am not enlightened, I am just asking questions.
"please post some of your trades too"- they are too contrarian, I do not wait for setups. I like to check bob's charts occasionally in order to make certain that I am doing the opposite. I ask questions to attempt to get a better understanding from others.
Why do you become defensive when asked a question? Why do you feel it necessary to defend bob's method?
The prorealtime platform has an indicator called 'recent executed orders' and ninjatrader has a similar thing. I have displayed actual trades in the past on this forum, using that indicator.
It would appear that there is not any profitable practitioners of this method that are able to display trades, charts or decent explanations. Other than week old hindsight, left side chart trades, that do not show the entry/exit price on the platform, there does not seem to be anything else that is offered for study and development purposes.
Hi TheDawgee,
It seems we started on the wrong foot. I am not defensive when I am asked questions, but I am when I find someone questioning everything from everyone without giving anything in return. So lets start again since you are asking genuine questions. Let me apologies if I seemed a little offensive, but as I said, questions for the sake of questioning does not help, so let's start by having more of a discussion.
I am only on Forex as I don't want to loose myself in thousands of different securities that I have to analyze. I am interested in Price Action and I think there is enough price action going on on the major pairs before getting my head too crowded of too much info. For now I stick to 4-5 pairs.
I am not purely defending Bob's method. I have made good trades following his setups as well as not so good. I think on top of setups and price reading, their is a lot to do with a "feel" that some have honed for their system and it is harder for others to hop on the same system.
This is why I am also looking to other styles. I spend enough time in front of my charts to see some things I should capitalize on: for example more contrarian entries.
No I am not just giving credits to Bob when I have a good trade and blame me on bad ones. It is just that I make mistakes, sometimes dumb one, which I have only me to be blamed for. This why. I am not seeing Bob as a god of price action, I actually think that it misses too many potential trades and that the 10 pip target is not working to become highly profitable.
However, I like to have a fixed bracket to eliminate any greedy wishes. I have found that most of my trades in the last weeks reach 5-6-7 pips of profit only to come back on me and end with a 1-2 pip profit or even loss. From my analysis, a fixed 6 pip target will give me a great win rate... I did that only this week and I am very happy with it.
As you can see, I really like scalping, I don't like staying for hours on end on trades. I hop on and off, but it means I have to stay sharp, have the least of negative emotions influence my trade piking and test test and test.
So please continue to ask questions, but give a little from you too. I had no idea about this 'recent executed orders', I have to check on mt4 if I can do that. I use Prorealtime for charting and mt4 to place my trades.
Please share your contrarian trades, even if you don't wait for setups....I am actually testing a method to hop on countertrades just on touches of a level, without waiting for a bar to be taken off.
"Other than week old hindsight, left side chart trades, that do not show the entry/exit price on the platform, there does not seem to be anything else that is offered for study and development purposes." This what I mean by not helping the discussion. Instead of criticizing (which is what you do here, right?) change this by posting you trades, giving explanation about them and raise the discussion to another level. I'd really like to here you on that.
Best
Kulpio
Hi all,
