The Trader's Arms - Now Open for Business

[The Home Of Golf]

Yes the zigzag and fractals on thier own do look a bit out there! LOL... the point in masking out the candles is a) to not get you looking for candle patterns and second guessing and b) it will quickly reveal if works right?

Be careful of using the zigzag in isolation! Use it in conjuction with the fractal confirm print. You'll notice that some fractals will not have a corresponding zigzag... they'd be the ones to avoid.

I had noticed the thing you posted RC about the zig zag settings (5;1;1 etc) and looked at the indicator. Have to admit that I don't understand the settings. You said 4h 12;1;1 and 3;1;1 and Daily 5;1;1 and 3;1;1.

So my zig zag indicator only allows one set of settings. Does this then mean you have 1 chart ( say a 4 Hour ) with two separate zig zags on it, and 1 daily chart with 2 separate zig zags.

I hasten to add that the only reason I don't understand this is because there are times when I can be as thick as two planks of wood nailed together

ST, if it is not too intrusive a question, what details do you keep on your spreadsheet ? I tried keeping a journal but stopped for two reasons. First reason was probably pure and utter laziness, second reason was I found myself writing a novel for every entry and I knew I would never go back and read all that ( again, pure laziness )

Anyway, as far as the trading goes I've been trapped in the same bloody trade for most of the week. Shouldn't complain realy as I suppose I'm still in rather than being stopped out. Had the chance to get out yesterday as d-pip mentioned but missed it. But if it runs all week and THEN i get stopped out, the toys may well get thrown out of the pram this weekend !!

One final thing, my live trading account has it's first birthday on May 7th. Now I don't want you crazy kids running out and buying balloons and cake and stuff, but I did have an idea I thought I would throw out.

I thought about starting another thread - a report card of sorts. I would write one article only in that thread and probably not even get involved in a discussion on it. The one article would probably be fairly long ( you don't say HoG !! ) and it would be about the one, or two, things I have found most difficult about trading FX live, or the things I have struggled with the most.

But it wouldn't be just a simple - I always forget to place a stop loss - end of. My article would be about what I believe my weaknesses are in trading, WHY I think I have those weaknesses and what I have done, or am doing, to improve on those weaknesses.

As I say, I don't think I would get involved in a discussion on that thread, just post the article for others to read and maybe recognise a bit of themselves in there. I wondered if any other traders ( might be a bit presumptuous calling myself a trader ) experienced or newbie, would also be interested in posting a one off article in it detailing what they have struggled with the most and how they are combating that.

Anyway, better go, work is beckoning. But REMEMBER, no cake, I don't like cake. But if you do feel the urge then it's only fair to let you know I don't like raisins, just sponge, strawberry jam sponge, with marzipan...................better stop now before I reveal too much about my cake fetish !!

HoG

[SimonTemplar]

Yes I got quite a kicking for suggesting 5&15 were not the 'holy grail' on several occasions to the point of leaving twice. But frankly missed the company of the great traders on this site.

In any walk of life, most of the true greats have made at least one great comeback.

Oddly, I was discussing with Mrs Templar just last night the romantic nobility of someone walking away from something at the height of their powers, then coming back wiser and showing that they still have it.

[The Home Of Golf]

In any walk of life, most of the true greats have made at least one great comeback.

Oddly, I was discussing with Mrs Templar just last night the romantic nobility of someone walking away from something at the height of their powers, then coming back wiser and showing that they still have it.

Slightly different take on that romantic nobility thing ST. Dunno if you remember a film from a few years back called City Slickers. Billy Crystal starred in it as one of 3 city workers who go on a cattle drive across the west, you know, one of those "find yourself" adventures.

Jack Palance also starred as the hard as nails old cowboy, Curly Washburn, who led the drive.

Anyway, cut a long story short, along the way Billy Crystals character asks old Curly if he@d ever been in love.

"was once." replied Curly. "What happened?" asks Billy Crystal.

(This is not the exact transcript, but words to this effect.) "I was out riding one day and as I rode over a hill I came across a farm house. And there she stood. The sun shining down on her, the most beautiful woman I'd ever seen. Made me stop dead, I fell in love right there and then."

"Wow," replies Billy, "So what happened?"

"Well, after a moment or two I turned my horse around and rode on, never saw her again."

"What?" Billy screams. "You've just saw the most beautiful woman in the world and you rode away! Why?"

The old cowboy shrugs his shoulders, smiles and says, "Figured it would never ever get any better than that one perfect moment."

How's that for romantic nobility ?

[PipBandit]

ST, if it is not too intrusive a question, what details do you keep on your spreadsheet ? I tried keeping a journal but stopped for two reasons. First reason was probably pure and utter laziness, second reason was I found myself writing a novel for every entry and I knew I would never go back and read all that ( again, pure laziness )

Personally I keep the following details for each trade:

Date
Strategy
Pair
Direction
Size
Euro / Pip
Entry Price
Initial Stop
Risk Amount (Euro)
Risk % of A/C Balance
Exit Price
Date Closed
P&L Pips
P&L Euro
% Gain / Loss
R/R
A/C Balance
Length of Trade
Commentary - usually just one paragraph that takes about 2 mins to write

[R Carter]

I found where RC is hiding... just to let you know I have all but forgot what a 5min chart is. I will admit I do use a 15 min chart but that is usually zoomed way out so I can see a day or 3.

Nice to see your still knocking about Shr1k... so few left from the old threads. Don't know about hiding... more a case of finding a thread with a bunch of decent guys and my style of humour. On the shorter tf's charts... well err. nope not going there again! LOL!!! I guess each to their own and a personal journey.

EDIT: Like the look of GU at present. So I'm short off 6060.

[The Home Of Golf]

Personally I keep the following details for each trade:

Date
Strategy
Pair
Direction
Size
Euro / Pip
Entry Price
Initial Stop
Risk Amount (Euro)
Risk % of A/C Balance
Exit Price
Date Closed
P&L Pips
P&L Euro
% Gain / Loss
R/R
A/C Balance
Length of Trade
Commentary - usually just one paragraph that takes about 2 mins to write

Actually, to be honest PipBandit, another reason I stopped keeping a journal was at the time I was still jumping in and out of trades without any analysis done on my part, just guessing. It's hard to keep a journal when you're trading like that.

Mind you, in a way I suppose it's a good time to keep a journal as a reminder of what happens when you DO trade that way.

[The Home Of Golf]

Nice to see your still knocking about Shr1k... so few left from the old threads. Don't know about hiding... more a case of finding a thread with a bunch of decent guys and my style of humour. On the shorter tf's charts... well err. nope not going there again! LOL!!! I guess each to their own and a personal journey.

EDIT: Like the look of GU at present. So I'm short off 6060.

In actual fact RC, regarding your GU short, recently I have been trying to do some kind of analysis into which pivot level price hits more frequently in a down day or in an up day. Having a bit of a struggle regarding the parameters I should use, but one thing I have noticed overall is that price very rarely likes to go too far past S2 or R2 on any given day. GU was sitting right around R2
(6058) before it dropped and is around 6028 as I write this.

So I hope things are going your way. I was thinking of closing my EU short if price gets into the 3060's before NY open in case same thing happens as yesterday. NY opened, price went back above 1-31

[SanJ]

Hmm, possible play for tomorrow?

EU 1H
Attachment 24496

.. After the epic fail of a prediction from yesterday LOL.. I actually went short both GU and EU and sitting on some good pips.. Got caught on a bad entry EU this morning but have made up for it since..

After the stop raid this morning on both pairs, shorted GU @ 6063 and EU @ 3145
Took 3/4 off my trade at 70 pips on EU.. Hoping GU will go a little further before i take off some more of my position, but got BE locked on both.. Looks like it will be a good day!

[The Home Of Golf]

My opinion Sanj is that drop in GU will get to 1-60, but not much lower for now. I am no stranger to the epic fail of prediction you mentioned either, so obviously could be wrong, only my opinion.

[R Carter]

Yep same thoughts on EU... just a quick 17 pips for me on that one. GU still open.