Parabolic SAR - that's all!

[droesparky]

Originally Posted by dpaterso

YOU HAVE TO WAIT FOR THE CLOSE OF THE CURRENT BAR OR CANDLESTICK AND A NEW PARABOLIC SAR DOT TO APPEAR BEFORE TAKING THE TRADE. HOW MANY TIMES DO I HAVE TO TELL YOU!!!

THIS is probably the MOST IMPORTANT of ALL 'the rules'!!!

.

I believe you have warned us all about that several times. If iits not in your rules of engagement dont do it.

What GMT time is the start of a day for delta? Im going to see if one of these MT4 packages with the same start time comes any closer to your parsar's

[droesparky]

Here is another ParSar it draws a line instead of dots. Even with the normal default settings Its a little different from normal MT4 parsar. so put both on and tweak it to fit your other one.

[pip huntter]

Originally Posted by dpaterso

On the other hand - if you have a look at the attached chart - I've plotted the results of my manual PSAR calculations on the chart (the red lines) - and - other than the fact that there may be three (that's what I count) extra Parabolic SAR dots drawn - it does not really seem to make THAT much difference (as a matter of fact you would have been stopped out MORE had you used the values of the manual calculation or so it appears anyway).

I don't know - I'm getting carried away here again I suppose.

OK - so based on these findings - what have we proved? Basically the calculations may not be EXACTLY what they should be but - once plotted on the chart - even these 'errors' don't seem to make as huge a difference as I first suspected - at least not (it would appear) to the end result. As a matter of fact - at Delta anyway - it would appear that however THEY are calculating Parabolic SAR is BETTER for us (me)!!! Go figure.

OK - so WHY then am I sitting with a $221 loss on EUR/CHF??? It looks like it boils down to one thing: YOU HAVE TO WAIT FOR THE CLOSE OF THE CURRENT BAR OR CANDLESTICK AND A NEW PARABOLIC SAR DOT TO APPEAR BEFORE TAKING THE TRADE. HOW MANY TIMES DO I HAVE TO TELL YOU!!!

THIS is probably the MOST IMPORTANT of ALL 'the rules'!!!

I would now go so far as to say that MACD is THE SECOND MOST IMPORTANT 'rule' to be followed and that RSI and Stochastics are there to just confirm that you are not entering and already 'dead' trade.

What do you think!!! I've gone a very long way around JUST to prove my OWN point to MYSELF wouldn't you say!!!

Regards,

Dale.

Hello Dale and every one who is following this thread!!

Well i have been not posting any thread that much coz i think we were really all of us were trying to think and evaluate our system with the new indicators we r putting all to gether with our system.

I do agree with u Dale for the entry on any trade we have to wait 1 day to confirm the entry other wise it will not be a vailed entry.

i was trying to test the system more and more and i do think the MACD with the PSAR is the best bet for us.and it gives a constant profit.

My problem and may be u (Dale & lots of us) right now is that when u follow this system we don't have that much of trades (if we r looking for the majors only) so it might cause us being bored.which leads us to open some postions that will end up with some loss!!!

I think we should go back to Dale's first lesson which is patience!!!but how can me train our self to do that i think the best thing is when we brake the rule and loss we should post that (like what Dale is doing) such a thing will help us to hold our dreams and keep us focus on our system.

the most important thing to be a succesful trader is to try to have those trades that makes us gaining lots of pips rather than the bad trades that we think woow let us try them if we loss 20 pips out of it we will close the trade which we never do coz we go gready on it and try to wait to breakeaven the trade but the trade goes in the direction that we hate causing more and more troubles to our account!!

I am not following what i am saying but i will do my best to do that.I didn't open the postion that Dale was teling us earlier so i am happy coz i didn't follow u Dale and upset coz u lost some pips out of it i think it will be good to close it and go back to our rules.for sure we will have lots of vailed entry in near future coz any thing that goes up it must go down!!

I feel every thing will be valied very soon as we r waiting so long right now!!!

Regrads,

Akram

[dpaterso]

Good morning everyone,

My one little forex position is still losing - just thought I'd let you know!!!

Anyway - I thought I'd post another 'useful' link (I also get this sent to me everyday):

Silver and Gold Prices

Basically - they (he) has been saying that the Gold price is going up - FOR THE PAST SIX MONTHS - but it makes for interesting reading anyway - if you're interested in the price of Gold (which you should be if you trade the 'commdolls'). If nothing else it does give you a bit of an insight as to why the closing prices on a Friday are important and also give you a bit of an insight into how some of these 'analysts' think. All the past articles are listed down the right hand side of the current page.

droesparky: I hope you've still got that tooth!!! When I said 'sell' yesterday - that should have been a very clear sign to hold on to that tooth!!! Like I said before 'I' am the best system around!!! Whe I say 'it is' - then you must know 'it isn't'!!!

On a serious note (although the above statement IS quite serious) - about my 'miserable' EUR/CHF position - I am now more confused than ever about all of these different Parabolic SAR issues or 'displays' (at the different brokers). I was too tired to post some more of my 'findings' last night but suffice to say that this time it appears that Delta has the 'the problem' and my other two brokers are in agreement with each other (one is MT4). It's normally ALWAYS been the other way around and for some or the other reason I don't seem to be able to get a 'handle' on it i.e. there MUST be some 'variables' in the 'bigger picture of things' that I'm missing here and 'for the life of me' I cannot 'put my finger' on them. I mean I don't believe it's price because the prices CANNOT differ THAT much between the brokers (oh and thanks to the couple of hundred or so of you that posted your EUR/CHF prices so that I could look at them - much appreciated - but - really - it's not necessary now - SORRY I WASTED YOUR 'EFFING' TIME). A 'Sunday' candle WILL make a difference i.e. you WILL have an extra Parabolic SAR dot being drawn if you get a 'Sunday' candle but AGAIN I can't see how this can make SUCH a huge difference (or can it?). On the other hand my 'Sunday' candle theory has been 'blown out of the water' this time around because I DON'T get a 'Sunday' candle at Delta and yet I have MORE dots than at my other two brokers where I DO in fact get a 'Sunday' candle (and because of all the EUR/CHF prices that all of you posted yesterday I ONLY HAVE MY OWN DATA TO COMPARE WITH)!!! Are these different displays even an issue??? There are two ways of looking at it (at least based on MY three different Parabolic SAR 'displays'): either Delta's is 'better' and their Parabolic SAR is giving an 'earlier warning' in which case there is no problem with my current trade because a new 'dot' appeared last night OR my other two brokers are right and I should not be in that trade rght now BUT like I said earlier it's normally been the other way around i.e. Delta has been 'spot on' and the other two have just given more 'whipsaws'. ON THE OTHER HAND my 'manual' Parabolic SAR calculations confirm both of my other brokers' Parabolic SAR displays (again - one is MT4) and are telling me that IN THIS INSTANCE Delta's is the 'odd one out'. Is Parabolic SAR THAT 'sensitive' to the actual pair or type of instrument that you are trading and THAT explains the differences? I'm afraid I've exhausted all the possibilities that I can think of right now and I don't have a definitive answer. Sorry folks (for now).

Oh - would you believe - that as I type - EUR/CHF is starting to go down!!! You know - as much as I love this business - it can be THE MOST frustrating occupation!!!

Regards,

Dale.

[Hypechic]

Good Morning Folks.

Dale, does 'Analysis-Paralysis' mean anything? The bottom line here like Akram noted is 'patience'. It's not eazy but we'll have to find it from somewhere. I saw the new dot on EUR/CHF but I've decided to give it one more day. As long as I eventually make a profit, I'm not even going to nit-pick about how much of a profit it is. GBP/USD is kicking my butt big time and I'm not happy. It's actually reducing the profit I'm making on AUD/USD & EUR/GBP

[dpaterso]

'Analysis-Paralysis' - I like it - where did you learn that???

Listen here 'Just Joan' - the market has fed me such a dose of PATIENCE in the last three weeks I could vomit!!!

OK - well - here's one of those 'bare all' posts again:

I'll tell you WHY this is getting on my 't*ts' so badly.

First of all - after all the work that's been put in here (not just by me but by every single person that has contributed their ideas and thoughts) - you know - you get to a point where you start thinking 'Right - this is it - now I've (we've) got it!' - then - I (we) follow the 'rules' (OK - my present EUR/CHF trade excluded) - and I'm sitting here now (I'll leave the 'we' out of this for now) and I have not made a cent in the last three weeks (well almost not - I've made a bit on the Indices but it nowhere NEAR what I need to live on). And this is AFTER coming from being THE most 'impatient' and 'unmethodical' and 'proverbial-know-it-all' trader 'on the block'. I mean - take a look at my first posts (even some of my earlier 'new trader' posts). I believe that I've come a long way since then - as far as 'patience' and 'restraint' and 'disclipine' goes - and yet - again - here I sit not having made anything this month.

Then of course - to make matters worse - there was my 'windfall' a couple of weeks ago (and yes - I've now reconciled myself to the fact that it was a 'windfall' and nothing else) - remember - the $50K? If the truth be told - that money only went a very small way to 'keeping the wolf at the door' as it were. I've ploughed so much into THIS business and lost a 'sh1tpile' over the past couple of months BECAUSE I was 'impatient' and 'unmethodical' and 'new' and 'inexperienced' and - when the 'windfall' happened - I really thought OK - this is it - FINALLY - as someone else said 'the light has come on' or something like that. OK - I should be grateful for the 'windfall' because things at that time were pretty much 'down to the wire' and had that NOT happened - I'm not sure I'd be sitting here typing this message because I probably would not have a workstation to type it on (and the worst part is that I know that even if things had got THAT bad I'd still not have been able to stand back and say 'OK - enough already - this is not going to work for you')!!!

Actually - while I was typing this message - I was interrupted by someone and we started having a chat - and - another point came to me: I was (have been) self employed for over fourteen years now - and I can tell you - that I have NEVER put as much time and effort into ANYTHING else (my previous business) in those fourteen years as I have with this - so you just 'expect' it to pay off.

Then of course there is the 'physical' side to all of this i.e. the lack of sleep and the odd hours and trying to 'fit everything in' that other 'normal' people just have to take in their stride. I mean - I wait until 00h00 here to update my 'wishlist' and to 'spew forth my inane drivel' on you people - then I'm up at 06h00 to update my other stuff because that's when my other broker/s update their daily charts. Then I have to get my son ready for school and take him to school and rush back to make sure I'm in time for the European market opening. Once that happens and I'm sure that things are 'stable' I TRY to get some sleep but sleeping in the day is not something I can get used to (I'll tell you - for the first time in my life - I 'feel' for people that work 'shifts'). Then I fetch my son from school and spend the next couple of hours staring at the screens for the US sessions (and this is when most of the 'Analaysis-Paralysis' comes into play by the way). The US closes at 22h00 here - so - I find something to do until 00h00 and the whole 'process' begins again. Then of course the weekends are pretty much 'f**ked' because you're so tired AND don't know what to do with yourself because the markets (or rather the brokers) are all closed so you can't trade so you end up 'wishing' Saturday and Sunday away so that you can get to 23h00 on Sunday night to start trading again!!! Now this would not be so bad IF you were 'making it in truckloads' but right now - there seems to be something wrong with this 'picture'!!!

I'll tell you one thing - if this pays off the way I think (hope) it should - God help the person that says 'yes - but he was lucky - he made his money on the stock exchange'!!! I promise you I'll take the thickest and biggest traders manual that I can lay my hands on and shove it in the (their) smallest orifice I can find!!!

The only thing that keeps the 'hop skip and jump in my step' is that I AM one of those very 'lucky' people. My whole life I've had the 'knack' of not only getting 'down to the wire' but actually 'scraping the wire' and then something happens and I 'bounce back'. The only difference this time round is that I don't feel that I'm relying on this 'luck' - I mean - I really feel I'm working hard at this - and because of that - yes I do expect it to pay off!!!

Oh well - one day when I'm gone - 'pushing up daisies' you know - maybe someone can print this thread out and publish it - you know - 'Memoirs Of A Trader' - something like that!!!

Anyway - that's enough 'whining' for one day I suppose!!!

As far as business (trading) is concerned - I see all these 'imminent' reversals coming - but at the moment that's all they're doing - 'they're coming'!!!

'How low can the dollar go' is the question here???

And Gold - well - now there is talk of $760.

Oil?

Have a nice day!!!

Dale.

[Hypechic]

I now understand where the BabyPips School was coming from when they said that Forex Trading will teach you things about yourself that you never knew.

Maybe it is easier for those of us that are not trading for a living.. I mean if my 'bread & butter' was coming from trading, I probably would not be as patient & disciplined as I am trying to be with this. I want to close GBP/USD so badly I can taste it but I'm trying to hang on for a little longer *Follow the rules and all*. Stochs is heading up, MACD seems to be indicating a ranging market....hmmm. I'll give it a little more time..hope I don't regret it.

Anyway, even the most successful traders have losing streaks or bad days so you're not weird. The point is, you're growing as a trader 'discipline wise' at least. In the long run you should be able to earn a decent living from this. That's what all the experienced traders say..there has to be a grain of truth there or we're all f****d. Hang in there.

*And do try not to break your rules*.

[dpaterso]

Thanks for taking the time to reply.

Well - I don't know if it's going to make you feel any better but I attached a chart of GBP/USD with Fibonacci Levels plotted (and of course Parabolic SAR).

Now - when I'm REALLY desperate - I give the 'good 'ol fibo levels' a bash - and - from what I can see - hopefully for you - resistance is going to be 2.0195 or thereabouts.

Don't feel too bad - I'm in a 'hedge' on this pair at this broker - waiting 'PATIENTLY' for it to break out of my 'hedge' either way!!!

Regards,

Dale.

[ottober8]

DPATERSO

As I told in my past post I put on a demo account your system.
At the beginning I enter "at the market" and then I followed the rule of "only PSAR" .

It is miniaccont from InterbankFX (MT4)

Following you'll find actual position.

Lot size is 0.01 (minilots)

As you see the system is in gain; I need much more time because from now I will take care of the close order; not before a cause of my first enter "at the market" and then it is not correct to take in the statistic.

From the table you can also see time and value of inputs.
I let it run and we'll see.
Each morning I check for new reversal, and modify s/l and buy stop or sell stop order for next reversal;

Any comments?

Regards

[Hypechic]

Originally Posted by dpaterso

Thanks for taking the time to reply.

Well - I don't know if it's going to make you feel any better but I attached a chart of GBP/USD with Fibonacci Levels plotted (and of course Parabolic SAR).

Now - when I'm REALLY desperate - I give the 'good 'ol fibo levels' a bash - and - from what I can see - hopefully for you - resistance is going to be 2.0195 or thereabouts.

Don't feel too bad - I'm in a 'hedge' on this pair at this broker - waiting 'PATIENTLY' for it to break out of my 'hedge' either way!!!

Regards,

Dale.

Thanks Dale.