I am open for suggestions and this is an open forum and I think of this thread as a master mind group and anyone who wants to contribute and suggest
more strategic buy entry levels, I am all ears. Part of this system is generous to others whose money I am taking. Where I make 200 tardes a week for 2000 pips, I could have made more and spent more time analyzing
and doing more swing trading. And what I guess we should do is get batter fatser and smarter. And perhaps we should obviously adust our trading so when the market is on a breakout we are long from one place and we are holding it open to get max profits even if we sell half at breakeven and hold half with a trailing stop. BEcause ideally in a rangy market I make more than a breakout with this style. But with this system regardless of WHAT the market is and what price is doing I will make a profit. It is as if When I get long with my first long in a cycle that price is obligated to come back,
we do not know when, just that it is extremely probable if not for sure that it will. It is like an elevator. Even in the sears tower there are only so many floors and the elevator car stops at all of them eventually and always returns to every floor it has been to before all year long..
I wish I knew really why this works. It is like all I did was change my mind about GJ and GJ changed. Years ago GJ used to rape me regularly, until I gave it up.
The initial idea is that, if I have lots 10 per 100 pips every hundred pips for 500 pips, yes I have drawdown but this way I am systematically scalping them and I will never accept a loss. And eventually I get them.
When you get sold out the losses are higher but after you get sold out once, you learn some of the biggest lessons in your life about forex.
SO THIS IS BEST DONE ON A DEMO ACCOUNT. The whole idea is bigger.
We are playing the huge range and if we always wait for it to get down, it will never get down. The thing is I trade every trading hour per week.
I enter the market at ANY time the market is open. Then I fill in orders going down and walk away. Before I place those orders going down I analyze all sorts of things to determine how far she will go before she returns and blows through my highest order. That's the thing I dont know. NOR do I need to know because it doesnt matter. WHereever the bottom is! I will have orders.
Sometimes I get stuck holding higher longs but since they are spaced wide, I hold them and collect interest, which like I said 13 weeks is 100% of the money you have invested. I prefer in and out and that is the objective.
Scalp them and bag pips on as many orders as I can. But key is the 100% profit ratio and NO STOP LOSS ORDERS so this is why you need to be spaced way down. It is like a marker on a GPS when you buy an order long.
YOU intentd on price moving back to there and past to your next marker up.
I don't know how to tell you but its 99% true, a theif always returns to the scene of the crime. WHy is this? I don't know. I also don't know why GJ
always returns to prices it has been at before.
So SOmeone asked me well GJ never returned to 251. NOT YET BUT I think it WILL! As to when I dont know.
It goes along the lines of everything returns to its original source, and that GJ price always makes a circle, it has to come back around. This is just a theory and I am not interested in back testing anything as that proves nothing more than the lieklyhood that something may or may not happen in the future.
I am always interested in NOW. And when price is moving down I am assured that it will retrace back up most if not all.
Quote:
Originally Posted by Andrewunknown
Thanks for your replies earlier, rrram2 - you do seem to have a plausible answer question that comes your way, and I can tell this isn't a fly-by-night strategy, but something you really have commitment to and care about honing. 
4xStar's questions overlapped some with my own, and they were partially answered. You do consult information other than economic releases and price to forecast the Guppy's direction. The hangup though, is this:
"You never really know where the bottom is" - that's true of any pair. Calling a bottom is a game of probability in which you cannot maintain a value of 1. Certainty begins to disintegrate immediately. So you do "never really know". But that's okay, because you don't need to really know, just "kind of" - i.e. know probabilistically. If my running sample size maintains a probability of .51 (or even less, if sound money management is in play) for playing short-term tops and bottoms (and by that I mean zones, not on-the-pip levels) then I will do well.
For example: a descending triangle completed formation on the M15 a few hours before the UK's MPC minutes came out. Price failed to break 202.60, as it had after no less than 10 touches off that level over the preceding 36 hours. When that didn't materialize, one knew a lower-probability bullish reversal might be in play. That was confirmed before the MPC. So, anyone could've rode that up from the mid-203s with a bit of detective work. But, a fib study mentioned before did show that 206.52 (+/- a couple pips) was the 1.618% extension level for that move up, which is a key reversal level. There was a very well-attested likelihood of a decline from there; but to where? Quite a few things pointed to 204.14 as support - Fib fan, (Alan) Andrew's median line, even the 144 EMA did a fairly good job calling it (always needs confirmation on the following candle after the initial cross).
Every level and every study suggesting S or R there is conjectural to some degree - we're speculators, after all. The point, though, is respect for these levels and forecasting off them - while allowing for a margin of error inherent in their probabilistic function - or of any other indicators or studies that do the job can help one arrive at the "high" and the "low" rather than buying where you're likely to sustain some significant losses pip-wise. The interest gained by buying @ 205 today, for example, rather than waiting until 204.14 very shortly thereafter is all but non-existent, with the unrealized loss on pips far outweighing the benefit. Assuming things do swing around (the capstone assumption of the strategy), buying @ 206, 205, etc. will make no difference because the loss stays on paper; but why not place buy limits more strategically, rather than strafing price all the way down?
Submitted respectfully!  |
204.30 or 204.00 is going to probably hold for the bottom for now
Linear Mode
