JCGIBSON
I have a favourite quote, [B]‘Rules are for the guidance of wise men and the obedience of fools’[/B]. 
JCGIBSON
If you don’t wanna be a fool you obey the rules.
Yes of course pips are the only thing that matter.
So you say 1% is the trade size, doesn’t that mean your risk is much higher?
If trade size is 1% of your account but you’re risking 20pips then the risk is much higher or are we talking cross purposes here?
$1000 account, 1% trade size = $10 per pip risking 20pips
possible loss of $200 = 20% risk.
SanMiguel
This is unlike you… are you on the SanMiguel again? :D:D:D
$1K account and 1% trade = $1 a pip. 
You don’t have adequate funds to trade like this.
Why do you think so many people emphasise a minimum of 10k…?
1% of 10k = $100 = 10 pips = 1%
Just get real when you’re thinking trading FX. IMHO
CAS
Will you behave! If I can call the all time dumbest call in the universe today. I think SanMiguel is entitled to get his maths wrong. Were all friends here!
Hi Robert.
I was having email problems today so don’t know if you tried to send that excel. Send it again and I’ll upload the new version.
I’m a little confused on percents. one percent of 1000 is 10
lets translate to base currency rather than lot size
so if I have 1000 in my account how many units of base currency should I trade if I make only 1 trade at a time.?
I know what I'm trading with my real money account right now and I dropped it way down because I keep loosing trades, will increase it as I get better and more skilled. but once I reach that skill level and win most trades...
I’ll post my red MAs crossing center bollinger later or tomorrow for critique, Robert you said you were going to test that idea out too, did you do that any?
Yeah, that’s what I thought earlier…just got back from a few beers. Confused. Have a good weekend all
R Carter
This thread is a happy club. We’re all rocking. And I’m not gonna go against the wave. lol
Was just trying to spell it out…just in case someone get’s confused. lol
SAN MIGUEL
How was the beer. Had a few myself. LOL
CAS
After that ‘behave’ remark there should have been a smiley face? Unfortunately, cant see my expression. You were a school teacher in a previous life… right? :D:D:D
R Carter
School teachers come from [B]WA[/B]y out there. lol
[B]N[/B]othing [B]S[/B]eems further a[B]W[/B]ay. lol
RCarter mentioned his favorite phrase, here’s a couple of mine
a fool knows not and knows not that he knows not
a wise man know not and knows that he knows not.
Here’s something more pertaining to babypips and forex. If you sit down at a poker table after thirty minutes if you don’t know who the sucker its guess what… it’s you.
reading through the forum you can tell who the newbies are, you can tell who the really clueless are, you can tell who the pros are. I guess if I can distinguish the difference then I must be somewhere in between?
Good. Sore head :rolleyes:
Been watching too much of the film Rounders haven’t you…tut tut. 
I did see the movie Rounders, liked it, but played a lot of online poker myself, got good enough to beat the free tables but didn’t stick with it long enough for the money tables.
R.Carter mentioned a strategy I was looking at. Actually he came up with the moving averages.
the are linear weighted averages with the following periods 3, 6, 9, and 12 all the same color, I used red.
I also have a 65 simple ma. RCarter says the 65 can be used as a kind of oversold overbought indicator. The strategy is this, when the red MAs cross the bollinger centerline up then buy and close when they cross it going down. Sell when they cross going down and close when they cross back up.
The price is a price line rather than a bar or candle. by doing this you hide the long wicks that fake you out so it kind of hides some of the noise allowing you to see the signal.
Even when the price is not trending but is mostly horrizontal I think maybe you might break evenish. ?
in this picture the yellow lines represent the trades. All winners in this case, but you can also see there is room for improvement. It’s just a basic idea to play around with.
TALOND
Sorry missed that last post. I think that you should only ever trade a max of 1% of your balance. As stated earlier, as the figures get meaningful to you. Stop working your way up the higher lot sizes (refering to the compounding excel sheet here) and stay put at whatever lot size youve reached until account size has doubled. Then your trading at 0.5% bal trades. Later when the figures get serious. Do the same again. Then your trading at 0.25% bal trades. With a big balance most traders get get conservative on their trades. At 0.25% it will take alot of bad trades to make you poor again.
I will email that completed excel sheet shortly for you to put up. Unfortunately, theres been a big accident tonight and the wifes been called in to ER. So the kids are dismantling the house as I type this! :mad:
R Carter
Hope you are well.
Looks like it was news that prevented GBP to track up last friday…
[I]In particular, the pound sinks against the dollar and euro [U]after Lloyds Banking Group was barred from exiting the Government’s debt insurance program.[/U][/I]
That would explain a lot in regards to the weird behaviour of the GU last friday.
What pair and which timeframe is the chart for?
Looks interesting but seems more successful on the 4hr and Daily charts.
First thing I look for in this is all the occasions where it doesn’t work and fakeouts occur. However, on the occasions it does work, it brings in a lot of pips if the bollingers successfully split the bulls and bears into their respective halves of the bollinger. I would have thought that in a ranging market you are going to get killed using it unless the targets are much less…or rather…the target is the top/bottom of the bollinger. In a trending market, you can just ride it.
Is the 65MA part of this or separate? Most intermediate term traders look at 50, 100, and 200 I think.
Are we only waiting for the 12 LWMA to cross, what’s the significance of having all of them crossing on this method?
The problem, like all MAs on longer timeframes, is that they work, but you have to accept some big draw downs or use wide stop losses before they go in your direction.
Could we use actual price crossing the centre bollinger instead of MAs? Might be subject to more fakeouts. I know someone who used to do something similar with just a 50EMA and simply bought when price closed past it, sold when it went under it - seemed to work for them - I couldn’t agree with it though
Sorry to hear that - hope all’s ok.
SanMiguel
The more you add the more complicated it get’s. The more complicated it get’s the higher the probability to get into minds about taking a trade.
Here we got…
4 LWMA’s
20 BB
candlesticks
S&R in different time frames
EUR behaviour
Now that’s 5 indicators minimum depending on their usage you can have more than a dozen.
That’s more than enough for me to decide to take a trade or not.
And yes, you can trade with two MA’s like 5,13. But you need to know the instrument you’re trading on very well and it is not suited on higher than 1h under present market conditions because of volatility.
Also, you need to monitor taken trades very closely because the longer MA tells you when to get out.
SanMiguel
Wife’s a medic so she was called into ER following a big accident. Our family is fine!
TALOND’s strat looks pretty good on his posted chart. I am tempted to demo it all next week to see what size draw downs I get and what sort of R/R. I like the idea of using a price line instead of candles when trying out this strat. I think candles may lead to trying to second guess the market instead of sticking to the plan. Plus when the market is say trending down the candles will regularly hit the lower bollinger and bounce back up to the center bollinger then resume the down trend. Using price line will cut alot of this noise out.
Aha - I see
[B]For TALOND’s method:[/B]
I’m interested in which timeframe. Randomly, I pulled up a 4hr USDCAD chart of this and whilst there were some big swings, if you use the MAs as the entry, you could actually be entering when price is at the bottom of the bollinger rather than when it’s crossing the middle as the MA lags. Whilst this is fine if the market is trending because, as you say, it will retrace to the bollinger then continue moving with the trend, it will ruin you when the market decides it’s going to range for a bit. I guess knowing the pair will help.
Obviously, I just picked USDCAD as an example, should try GBPUSD as well especially as it has been kind of ranging recently. All the X’s are where you would have been stopped out. The blue lines are successful. Maybe taking an MA cross near the top of bollingers might get a few more pips at the expense of getting out of some trends too early.
Try it on the daily as well, looks a bit better. Remember, if we’re following the MA, then price has already gone well past the middle.
