Thoughts on trading after 3 years

[donno1580]

They are dead company. I mean methods and strategies they use are obsolete, good only for making random guesses and thinking that you made informed decision.

Have you tried the strategy?

 

[hatemypips]

Have you tried the strategy?

I tried their other stuff and what can basically say that they're absolutely incompetent. Well it's my own opinion don't take my word for it do your own research.

 

[donno1580]

Bruv, methinks you are confusing Trading Central with something else, they only use one strategy, but all to their own...

 

[donno1580]

RIGHT!!, i am still doubling my account every other week using Trading Central's Mt4 plugin indicator, the last response to my post was misinformed.. simple, who out there has access to this indicator, Trading Central has been around for ever and supplies Technical Analysis to top SUBSCRIBING clients such as Financial Institutions in investment.

Does Your Broker subscribe to this service? if so you will have access, otherwise not?

TRY IT

 

[nunrgguy]

I've not stopped by here in 10 years maybe? I don't see much in the way of thoughts. In three years you've learned that some lines on some charts based on some 'timeframes' which in reality do not exist 'work' somehow by giving you the nerve to chuck a punt on but that MA crosses lag.
Where is the trade management, where is the money management, where is the exit?
Nope, it's some tea leaves.

 

[tomorton]

I've not stopped by here in 10 years maybe? I don't see much in the way of thoughts. In three years you've learned that some lines on some charts based on some 'timeframes' which in reality do not exist 'work' somehow by giving you the nerve to chuck a punt on but that MA crosses lag.
Where is the trade management, where is the money management, where is the exit?
Nope, it's some tea leaves.

Who are you talking to? What are you responding to? What do you mean?

 

[donno1580]

Guys... seriously, i am fed up with all the gummf that emanates from charts that have happened... "when you see the price do exactly that as it did on the eleventeenth of septober you must do this"...., "wait for the candle to close as it did here.. and not before and then...."

Look i have been "around the block" a couple of times and i traded back when one had to [in writing] request a broker to enter a trade at a specific trade and exit at a specific target...

This does not afford me any seniority in any way such as a Legendary Senior, whatever member and do not profess skills other than that of having navigated through life, and directed some profitable enterprises, i still kick arse in Marathon's and Ultra Marathons though.

There is so much talk and hype about how to make money trading forex, when only 5% of traders are PROFITABLE, there is no "Holy Grail", there is a pattern though..., that is evident on ANY chart, and that is... one instrument rises or falls against the other instrument... period...

1) That rise and fall means that one can capitalize by either buying or selling one instrument against the other.

2) That rise and fall then means that "Fundamentals/Sentiment"(news etc) is included in the price action.

I wish to start.. if necessary a debate around....

1) Intraday/Day Trading, is far more lucrative than Swing trading...one shoots for a target, banks the proceeds and waits for the next day.(of course, money/account management being key), i will prove it.

2) If you have many traders/institutions looking at the same set of rules and acting upon them you effectively have more "market push" at execution.

3) Large Institutions with Large Pockets, Financial Institutions if you like, actively Day Trade.

4) There is a set of rules out there updated real in time on the chart in front of you.

5) Fellow Traders, you will be honestly astounded at the reaction around certain price levels, that are indicated on your chart.

So lets go, i am loaded and ready for the first question/s

PS: i am all for the "Team Effort" as in item 2)

 

[fibo_trader]

Guys... seriously, i am fed up with all the gummf that emanates from charts that have happened... "when you see the price do exactly that as it did on the eleventeenth of septober you must do this"...., "wait for the candle to close as it did here.. and not before and then...."

Look i have been "around the block" a couple of times and i traded back when one had to [in writing] request a broker to enter a trade at a specific trade and exit at a specific target...

This does not afford me any seniority in any way such as a Legendary Senior, whatever member and do not profess skills other than that of having navigated through life, and directed some profitable enterprises, i still kick arse in Marathon's and Ultra Marathons though.

There is so much talk and hype about how to make money trading forex, when only 5% of traders are PROFITABLE, there is no "Holy Grail", there is a pattern though..., that is evident on ANY chart, and that is... one instrument rises or falls against the other instrument... period...

1) That rise and fall means that one can capitalize by either buying or selling one instrument against the other.

2) That rise and fall then means that "Fundamentals/Sentiment"(news etc) is included in the price action.



1) Intraday/Day Trading, is far more lucrative than Swing trading...one shoots for a target, banks the proceeds and waits for the next day.(of course, money/account management being key), i will prove it.

2) If you have many traders/institutions looking at the same set of rules and acting upon them you effectively have more "market push" at execution.

3) Large Institutions with Large Pockets, Financial Institutions if you like, actively Day Trade.

4) There is a set of rules out there updated real in time on the chart in front of you.

5) Fellow Traders, you will be honestly astounded at the reaction around certain price levels, that are indicated on your chart.

So lets go, i am loaded and ready for the first question/s

PS: i am all for the "Team Effort" as in item 2)

para #1: History repeats - not exactly in the same way but .... Those who ignore History, die


para #4 with points (1) & (2): Yawn! That's known as Pure Price action, i.e. everything is quickly figured into Price


>>>>> I wish to start.. if necessary a debate around.... <<<<<< = more super heated steam out the ass?

Start anew: Post a trade in real time from start to finish - should not be hard to do as you trade on very small time frames. Just one trade.

 

[fibo_trader]

Hi all, getting involved and contributing after more than 3 years of surfing, and frankly tired of all the write up's/videos on You Tube based on historical performance(What the chart/instrument did) as though it will happen time and time again!

TA 101 by John Murphy: patterns repeat again and again and again = those who ignore History are doomed.

You Sir, not only ignore it, you've criticized it and all those practitioners on YouTube who are doing the right thing in mentioning the importance of H.

Get John Murphy's book, open to Chapter 1 and start from there. You're a walking time bomb.

 

[fibo_trader]

Moving average crosses do not work therefore a Single 50 Period SMA filter, and yes it is working at the moment live.

So nice of you to kill a hefty chunk of basic TA that saves lives. Nice indeed!

 

[tomorton]

.......
I wish to start.. if necessary a debate around....

1) Intraday/Day Trading, is far more lucrative than Swing trading...one shoots for a target, banks the proceeds and waits for the next day.(of course, money/account management being key), i will prove it.

2) If you have many traders/institutions looking at the same set of rules and acting upon them you effectively have more "market push" at execution.

3) Large Institutions with Large Pockets, Financial Institutions if you like, actively Day Trade.

4) There is a set of rules out there updated real in time on the chart in front of you.

5) Fellow Traders, you will be honestly astounded at the reaction around certain price levels, that are indicated on your chart.

So lets go, i am loaded and ready for the first question/s

PS: i am all for the "Team Effort" as in item 2)

Cheers donno -

1) Maybe it is more lucrative but day-trading has certainly cost me money each time I've trialled it. There's nothing inherent about day-trading that says it is unworkable but I always always advise new traders to avoid it, 90+% of them who do try it will lose their money really quickly.

2) Yes, I have seen private retail traders move prices on mid-caps and small-caps. But these days I'm almost wholly in forex so we have absolutely zero power there.

3) Agreed. Who thinks they don't?

4) Not sure what you mean.

5) Yes, this is visible constantly on various charts. The problem I have with price-spotting (selecting support and resistance levels, trend-lines etc.) and price-rating (selecting which lines will be the most potent and worth acting on) is that there isn't an objective way to do this. The only way two traders will ever draw up the same s/r on the same chart is by random chance. So I don't even bother.

Have a good evening.

 

[donno1580]

Ok fellow traders, i seem to have some attention, i felt the heat from my inbox.

Firstly fibo_trader, thanks for your prompt response and getting us over the start line. "<<<<<< = more super heated steam out the ass? "

It is evident that the content of my writing P!ssed you off somewhat evidenced by your subsequent follow up posts.
i apologize for hitting a nerve now chill and let me try and explain.

You have taken time to pick out excerpts from my posts and comment...., i am truly flattered.

Now i am in no way intending to disrespect/rewrite the book/re-invent the wheel in trading.
i am simply going to prove a point, that has evolved and been indelibly imprinted on my psyche as i have progressed through the forex maze.

Trend lines, Channels, Triangles, Multi Time frame Analysis....... all require history/past behavior to equate "Technical Analysis"

earlier i was referring to the "reaction of a certain candle on a lower time frame chart at some point in time gone, and what to expect next."strategy.. there are millions out there!

Therefor i apologize for falling over my face earlier as Intraday vs Swing Trading is actually what is meant to discuss.

When i referred to moving average crossovers, they indeed work very well in trending markets, as do other strategies but fall short dismally in ranging markets.

Take say a 1 hour chart and apply a cross combination of any choice on it, backtest it and you will certainly here the squeek.

I started with Swing Trading"Letting Profits Run" and got to Intraday trading which i believed, initially was a waste of time.

Now i have found the latter very...(calm down )...profitable and not to mention, mentally stimulating.

i AM making Money almost on a Daily basis, and when i have shared this info, as i have mentioned above, to have a collective push at the right time, the objective is achieved as it indeed already is, as Big Money is Traded Intraday. (+-$5.1 Trillion)

(i do not intend to try to shift the poles)

Not to mention "putting back" or contributing in a small way for all the resources made freely available out there from all the benevolent contributors during my forex journey, for others to benefit....,heck i am going to be alright when i retire.

Let's start then........................

1) Ok, so Fundamental Analysis 1 July 2019 "Pound Plummets against the Dollar"(Brexit)
This is evident on the 4hour Chart indeed and swing traders would catch the ride.

2) There are counter trends on the lower time frame(30 min) 10 july 2019(see insert)

This is my point... i made 1000+, yes a 1000+pips in Feb 2019 whereas swing trading would have netted 300 with lower gearing because of the initial stop loss, risk management employment

The average stop loss in the intraday trading during this period was -15 pips, not to mention the increased gearing as the account advanced/grew.

Yes it is not always right...., but what is??
That is exactly why in trading that one would wisely risk between 2 and 10% per trade.


The main objective of this exercise in fact, is to hopefully help the users of this fine platform(it is after all a forum), to create a think tank/collective resource to improve the strategy.

Any One Else?, have a GR8 Day

 

[donno1580]

Oh, tomorton. i am sorry about your trials in intraday , i can help if you like, no disrespect.

 

[tomorton]

Oh, tomorton. i am sorry about your trials in intraday , i can help if you like, no disrespect.

Thanks for the offer donno. Regret to say I am now so discouraged by the whole effort I wouldn't take you up on it. Not that it can't work, I'm sure it can - just recognising it seems to be a style contrary to my nature so I've got to let it go.

 

[donno1580]

Cheers tomorton, may you be very successful moving forward.

 

[Stan1T]

Do you have enough statistical proof to claim that?

Not sure anyone can make a claim difinative like that. If there were a hard rule like that in trading you could just set a scanner for it and let 'er rip. Be rich with no work or effort.
Doesn't exist.

 

[fibo_trader]

Fur Hauptmann donno - posted by fibo in another thread days ago. See the very first moving average cross on the right side of chart? That is the end of the 3rd wave. What anybody with commonsense knows is tht a 4th wave of commensurate length and duration will follow and it will be a sideways affair.

EurUsd in the massive bear wave May 8, 2014 to exit May 1, 2015 = 1-year short. Aha, aha, see the fckup after the run? Look to the right and see the giant fckup that could destroy fibo's profits - all of it would be took-ed away. But fibo is too smart for stupidity of that ilk. He took-ed the money and ran to Avatar.

 

[hatemypips]

What's your view on GBPUSD ahead of the Fed July meeting? Is it makes sense to long this pair ahead of possible big rate cut by the Fed? Or its purely driven by Brexit concerns currently?

 

[NVP]

hey Dunno.....welcome to T2win ........will take a look at the thread and (naturally) throw my hat into the ring later ......so far your approach reminds me of a mate who changed the landscape on T2win a few years back .....we all got banned a few times ....but thats just banter ......

dont fall on the sword so soon dude .....or PM me here and I am happy to talk through what you are up to .......there are people making consistent money daytrading ........so dont worry about the banter here ........its just that ...different opinions and banter

N

 

[donno1580]

Hey NVP
A breath of fresh air, thank you so much for your kind words, delighted to make your acquaintance, i am just the type who has gone through life with the "think out the box" attitude and i have been quite ok with that philosophy so far. I appear to'flip flop" at times with new ideas, but the "Banter" is always in the line of finding fault rather than trying to be constructive, i sense a lot of animosity out there and am saddened to see that the subject all too often drifts off from the point of focus being the purpose of this fine platform. Sharky initiated the "Thought...." thread as initially i did not know even how to navigate on the platform.

Would be glad moving forward with your input.