Trading Systems in 'New Concepts In Technical Trading Systems' by J. Welles Wilder

[dpaterso]

'In' GBP/ZAR. Same 'deal' for the trade.

[dpaterso]

'In' USD/ZAR. Same 'deal'.

Another little 'high payer' 'tidbit':

EUR/RON buy at RTS LSTOP2.

Edit:

Sorry ('typo') error: EUR/RON buy at RTS LSTOP1.

Also:

As Craig has pointed out:

Possible USD/RON buy at RTS LSTOP3.

[dpaterso]

For those interested in following stocks (and can):

I've attached a list of stocks that are CONTINUALLY being very good to me!!! The 'picks' really are done by looking at the price, the sector, and which stocks have had extreme down moves in the past week or two (ideally in the past day or two). They are mainly financial stocks (my favourites and 'standard' but include some tech stocks as well that are in my opinion 'cheap' and affordable). Trading with the VSTOPS and SIS only. 'Hot' tips: Freddie Mac will 'tank' at the open and try to get into Time Warner, American International Group, Microsoft. Motorola has a HUGE gap to fill so watch that one too.

[pip huntter]

hello every body

i started to read the book and i picked the TBPS i am not sure if it is a good start to begin with this system or not as i read it before and i founded extremely hard to understand but i took 2 days to watch and do all the calculation through my excel sheet i picked 2 pairs to anlyis them with this new system the results for this early stage was definitely came with a surprise for me as the risk is not that much coz i am able to go out of the market if things goes against me early and it does work as well perfectly!!

I am so happy coz i thought i am an idiot coz i didn't understand it before but i think i wasn't that idiot as i was relying to the PSAR and i was closing my mind not to accept any other system.i never meant to say that PSAR is not working as it has it is own moment but i am still sticking to the 100% profit that i made and lose from the beginning of the year which is not actually good for some one who wants to do this for living.i know i am still far away than every body on this new system but i will do my best to know and digest all what u have been through

what i am wondering is that i can't see any one who is really so happy about the results apart from Dale i hope i am wrong!!.again i don't mean to say i am disappointed but i just don't see the reason why people r not satisfied with the system although with a quick review with the calculations i can see some progress and a merit about it!!

i will keep on doing my home work with the excel sheets and i will take it from there

have a good day all

Akram

[chdorry]

Originally Posted by pip huntter

what i am wondering is that i can't see any one who is really so happy about the results apart from Dale i hope i am wrong!!.again i don't mean to say i am disappointed but i just don't see the reason why people r not satisfied with the system although with a quick review with the calculations i can see some progress and a merit about it!!

Hi Akram,

In regards to above, I went from zero forex knowledge to about 5-6% gain in my first 3 weeks of trading. Now that being said, so far this month I've had two positions that I've closed for 3% gain each, so I'm already up 6% for the first week of August. I can say that I'm happy about the results.

I think that people need to be realistic. For example, how many ever got on a bicycle the first time and were able to ride without ever falling? I know that I can ride a bike today b/c I had the perserverance to stick with it and learn how to ride the bicycle.

I think the same applies to forex. In my 3 weeks of trading in July, I could've easily doubled that gain had I not made some mistakes (mostly mindset but a couple of times I misread the charts due to inexperience). So to me, I don't think anyone can expect to come in and "knock it out of the park" from day 1. While that's ideal, there are going to be some bumps and bruises along the way.

I read a quote once that seems applicable - went something like this:
"If you can find a path without any obstacles, it probably doesn't lead anywhere."

So please continue your studies and stick around, because the best is still yet to come (at least for me).

Craig

Edit: Just checked my account and my positions that are open show a net gain of about 4.5%. Note: Nothing is made until they are closed, and the two that show a small loss at the moment are moving my way.

[pip huntter]

Hey Craig,

thanks for your post buddy i really appreciate your pushes for me . i don't know what to say but i am still studying it but so far the results seems impressive to me i want to jump on the market right now lol it involves lots of calculations and i like that at least i am doing something with the other systems u just watch and u pull the trigger when ever u smell or see something that tells u go for it!!

Any ways let us see how things will go and i will keep u all posted with my results i don't know any thing about the money management so far although most of the people in this thread talked about it allot .it will be another big story for me but at least not for now!!!

Akram

[chdorry]

Hi Akram,

The basics of the MM system (as I've learned from Dale - I'm sure he'll post his "book length version" later :-)

Each position should not be opened with more than 1.875% of margin.
So if you had an account with $10,000, then each position should get $187.50 margin or less. When you are opening the position if 18 lots puts you at 178 and 19 lots put you at 187.51, then you *ONLY* put the order for 18 lots.

From there you can have about 10-12 positions open simultaneously and be "very safe" from money management. I think Dale's rules are no more than 30% of your account margined at any time. So theoretically that is 16 simultaneous positions open, but I prefer to stay a little below that for two reasons:
1) This gives you a little extra cushion in the event of a drawdown (which you will see from time to time)
2) This also leaves you with a little wiggle room for the day that AUD/NZD finally turns down! (Ok, so it gives you extra room to add some "good orders" when you see them, and AUDNZD short is one that someone has been waiting awhile to see

Other than that, always monitor your free cash and ensure that you're "comfortable" with any positions you take BEFORE placing the order.

Of course the other side of the coin on when to take profit is pretty much wide open. One thing I can say, I've never met a profit I didn't like :-)

Hope this helps.

Also, there was some discussion about how leverage ties into this. The one difference this will have is that with 200:1 leverage you can open 4 times as many lots as you can with 50:1 leverage. For example, same 10000 account, your margin is 187.50, so with 200:1 leverage you can "get more" lots with that 187.50 than you can with 50:1 leverage. Of course, again trade with your head, not over it.

[pip huntter]

Craig,

yeah i heard about the 1.87% but i think that will be on the 10k account less than a lot it will be like 0.187 lot as the lot is 1000 $ woow i read it before but never counted them any ways thanks for the help

on my calculations for the new system (new for me!!) for the GBP/USD the price hit the target for today!!! i am watching the USD/CAD coz they r the only 2 pairs i calculated them into my excel that is good by the way the USD/CAD is far from the target with in 10 pips!!

I know the moment i will jump in for this new system the moment the target will never be met!! lol any ways let us see!!

Akram

[chdorry]

Originally Posted by pip huntter

Craig,

yeah i heard about the 1.87% but i think that will be on the 10k account less than a lot it will be like 0.187 lot as the lot is 1000 $ woow i read it before but never counted them any ways thanks for the help

Akram - My apologies if I wasn't clear. The 1.875% is a fixed percentage that you use for margin calculation, and the 10k I referenced in the example was the account balance. I too trade with 1000 lot sizes, and the number of lots I actually place is determined by my current account balance times .01875 (1.875% of my account balance).

So if a lot was $5 (1000 lot size), and your margin was $187.5 (assuming your balance was 10k), then you'd be able to buy 37 lots, which would use a margin of $185.

Now if your account balance was only 5k, then you would be targeting 93.75 (1.875% of 5k) margin, which would yield you 18 lots. If your account balance was $1k, your margin target would be $18.75 (1.875% of 1k) and you'd order only 3 lots.

Hopefully this helps clarify any confusion that you might have regarding the MM rules.

Craig

[pip huntter]

Craig,


yes that is now clear for me thanks for being patient with me!!

Akram