Alternative Technical Templates.

[daydreamer65]

Just took this from Tess' 1st post which I feel is the whole
concept of this thread.

Thread started to post up & discuss set-ups & technical behaviour outside of the main "system" threads.

Also a little aside here, sorry in advance, may give a small
insight into the way my mind works. :lol:

Tony I wasn't sure of the use of the word "fora" thought it was "forums",
so I looked it up in the dictionary & we are both correct. (Didn't doubt
you for one minute, not)

forum n (plural fora or forums)

Then I read on.

1a. a public meeting place for open discussion. b. An event, broadcast, or medium where views may be aired or debated.

I then looked up debate.

debate n 1. a formal discussion of a motion. 2. an argument or controversy.

I mention it only as a warning to others that if they want to vent their spleen at those trying to help then there are consequences for all of us

What I am trying to say, very badly as usual, is that, "that is nature
of the beast" as far as forums are concerned. One needs to be very
thick skinned or very sure of their stance, or both, to participate in
them.

That is the reason why I added my signature, which is worded
exactly how I feel, I participate in the fora because it is an aside
from trading, most of it is total dross, but occasionally one comes
across a "gem" like this thread & it is all worth while.

Sorry again for this aside but I must have needed to get that off
my chest. :lol:

[tonymand]

[quote=BlackPips;34927]Hey Tony and DD,
happy new yr to u all.
i have demo'd for about 7 months and i think i am now ripe to go live, ( i would have attached my performance chart but i am sending this from the office)
anyway, my problem is getting a broker, u see, i leave in Nigeria and most brokers will rather not deal with us, that's kind of frustrating...but i understand their bias. i really understand.
now my options are alpari(maybe), northfiance, interbankfx (maybe) and cms (maybe)
and i say maybe ''cos i am yet to get a response to the mail i sent them...they can reply and tell me they won't play ball with me just like oanda did.

now which of these brokers will u guys advise me to go with?

Heard good things about all of those but no personal experience of them

i know i really should not bring this topic here but i am banking on your experience and understanding of how much stress it takes to find a broker.

Tony, u live in aussie, what can u say about the broker fxs forex, do u thnk the are good enough, they have not replied the mail i sent since last week?

Dont know, my brokers are not aussie based

[Tess]

Hey Guy's,

Good to see the thread has prospered into years end & remains bouyant.

Haven't had the chance to have a proper read yet, as only landed back in UK on Tuesday. Need to familiarize myself with events here in the office with Jimmy for remainder of week before jumping back in here.

Jocelyn is following me back over here next week & I'm sure she'll contribute the odd post or two as circumstances dictate.

Nice to see some familiar nicks still active....hope y'all had yourselves a crackin holiday!!

Market winds blowing gusty into the end of 07 & continuing to step up the ante early into 08.

Lots of opportunities beckon this year. Lets get to making some healthy pips!

[daydreamer65]

Hi Tess good to see you back.

i have demo'd for about 7 months and i think i am now ripe to go live, ( i would have attached my performance chart but i am sending this from the office)
anyway, my problem is getting a broker, u see, i leave in Nigeria and most brokers will rather not deal with us, that's kind of frustrating...but i understand their bias. i really understand.
now my options are alpari(maybe), northfiance, interbankfx (maybe) and cms (maybe)
and i say maybe ''cos i am yet to get a response to the mail i sent them...they can reply and tell me they won't play ball with me just like oanda did.

now which of these brokers will u guys advise me to go with?

i know i really should not bring this topic here but i am banking on your experience and understanding of how much stress it takes to find a broker.

Tony, u live in aussie, what can u say about the broker fxs forex, do u thnk the are good enough, they have not replied the mail i sent since last week?

Hi Blackpips I am afraid I can't add much more than Tony on the subject.

I did though take a look at Alpari's forum where I found this.

Do Alpari Accept Client From Nigeria?.

They are a UK based broker who use MT4 trading platform, they
do not have a great range of trading pairs at the moment, but
they are looking at that all the time.

[BlackPips]

thanks DD and Tony,
dd, i appreciate ur putting up that link for me.

i finally got an email from alpari, 2day, they opened an account for me
ahh...finally!... its not easy being a nigerian i'd say.
i will let you guys know how i do with tht.
thanks really, i appreciate.

hi Tess, welcome back.
hope u had a good time.
its good to see u and 'Jocy' will be posting here this year...looking forward to that.
i see that u came with a new flavour...trendlines, i think its the first time am seeing it in ur chart, but that's gr8...
thanks for starting this thread, its the babypips high school in my opinion.

green pips to y'all this yr.

[daydreamer65]

i finally got an email from alpari, 2day, they opened an account for me
ahh...finally!... its not easy being a nigerian i'd say.
i will let you guys know how i do with tht.
thanks really, i appreciate.

No problem blackpips glad to be of help, great news as well.

I have a demo account with Alpari, was going to try a UK
based broker but have never gotten around to it, but keep
us informed I would be interested to know how you get on.

Too much time on your hands DD, take it that its a quiet night for you tonight!

:lmao: Yes to the 1st question Tony, no to the 2nd. (By the way your night is our day I was just going to have my lunch) I had already gotten my day in as it were, plus as I said "may give a small insight into the way my mind works"

[Tess]

Originally Posted by mustang

Finding this site and in particular this thread and the "40-100 pips per day" thread has really turned things around,I've had two months of profit and feel much more confident about my future trading.

I limit myself to trading only the best setups during the time I'm at my computer.

Hopefully the experts will re-visit this thread and teach us some more.

That's really great to hear mustang!! Hope the profitable months continue to heavily outweigh the negative one's this year

Appears you're cutting out a confident groove with a mix/balance of the info available here, which really is what it's all about.

You definitely won't starve if you're basing your strategies around good ole price action triggers.

And whittling those trades down to only the Grade A opp's will help to keep your confidence (& account balance) bouyed.

Far as experts goes?! There aint none!! Just a bunch of folks with varied experience levels & different skill sets, attempting to turn a dollar & stay on the right side of the flows

Hopefully, this thread will continue to bring folks together so idea's & views can be shared, swilled around & nurtured.

Look forward to yours & everyone else's contributions this year.

[daydreamer65]

This is a variation on a martingale system.

Martingale (betting system) - Wikipedia, the free encyclopedia

Very dangerous for new traders, if you had used this system
back in September when cable was nearly as low as it is now
you would have needed to ride it all the way up to $2.11.

You would need a very large account balance to sustain these
losses.

[kerry Haladae]

Hey Daydreamer-
Thanks for the response. That link to wikipedia was a little gem. It turns out that the anti-martingale is much closer to what I was talking about here's what they say:

"One activity where money management based on an anti-martingale approach has a recognized value [1] is speculation and trading. Many financial markets have some cyclical component to them, and the approach of an individual speculator or trader may only be appropriate for one portion of that cycle. Using an anti-martingale risk management scheme will increase profits during time periods when a trading approach is working well, while automatically decreasing exposure during portions of the cycle where trading is unprofitable. This is believed to decrease the risk of ruin for trading."

Fascinating,
Kerry

[Tess]

Hey Kerry,

Thank you for the positive comments, very kind.

Sure, we do average or job a position where appropriate to massage the potential profits, but generally only when we’ve achieved a positive entry & the trade is going our way.

We certainly would never, ever add to an initial losing position or a trade entry which immediately went under water in the expectation of it turning around. That’s a dangerous habit to get into.

But occasionally prices will bounce off major lines/fibs/zones & pullback against my position to let out a little steam. If the original analysis still holds water, then sure I’ll add more juice to it as & when it once again begins moving in my direction. That’s common sense money & risk management & a sensible way of elevating % returns on a keen entry.