Hi Everyone,
Last night I saw his post on Random Walk saying he can’t continue the group because it was taking too much time on his part. Now I tried to check the group and I guess he removed the group discussion and deleted all his posts on babypips forums as well.
Now, we have had a bit of excitement with his participation and in my opinion it was going quite well. A little frustrated here.
If anyone’s interested in discussing the stop order strategy here, I’d like to join.
Regards,
Metin
Well quite a few of us have bought some of the trading books peterk suggested, and he is not the only one to have suggested those books, so they are a valuable resource. We can always see this a a combined learning cycle to gain an alternative/better/clearer/insightful/critical view of the forex market. We were really getting going on something worthwhile here different from the usual 90%+ garbage on forums.
While I have a strategy that works for me (trend-following in essence), I’m always open to learn additional knowledge/views/systems if different enough from mine and they seem to make sense.
So yes Metin, if possible let’s keep going…
After I uploaded some notes late last night I noticed that peterk said he was no longer continuing. Paul maybe you could communicate with Peter to perhaps at least summarise some notes on his approach/ brief guide/ summary of trade examples not immediately as everyone has commitments the initial start to this inititive was extremely quick. So to Peter I understand but maybe a post to this site at some time with a guide of some shape or form to follow through with as the market profile was an interesting read and different approach thanks.
More disappointing for some than others, but I like your positive outlook Wolivier. Anyhow, onward and upward as they say.
He deleted his fairwell message also and left us no way to communicate (I can’t seem to PM him).
After the assignment on Sunday, he shared with us his assessment -publicly on the group forum- which is not available now either. We have had no discussion on any particular trade idea/approach and even if we did it would be public.
After Peter’s leaving, I know I am not equipped to attract attention sufficient to discuss the thread’s initial quest. But I am still keen on discussing stuff here and I think I have made my points on loveislife breakout strategy. Any criticism or addition or a new idea to develop a method would be welcome if anyone’s still interested.
Regards
Just my opinion but I think Peter was in over his head and was trying to act more knowledgeable about Forex than he is really is. On Loveislife’s Weekly Signal thread, Peter identified himself as a newbie and was anxious to try the Golden Signals system. So I didn’t understand why he all of a sudden he was an expert leading a group?
Is the pizzaman right afterall, or is there more to meets the eye?
He was a cowboy through and through
Hi there,
Ive been following the thread from the begining. Regardles of PeterKs way of dealing with things, I encourage you to continue developing what you have started.
Regrads,
Guys, we didn’t start this thread to talk about Peter or the pizza guy. If you want to criticize/accuse people, pick someone who’s here and able to answer.
I believe we have lots of opinions to discuss on strategies. If you need someone to follow, there are lots of signal threads. If you want to exchange ideas to improve your perspective, share it so we can continue.
Please labor what we have at hand, not what’s not here.
Regards
I Agree with u Metin …
I am in thread from begning but dont give time in my own thread more nor in this thread and when petrek start his way so i think i also learn some thing knew but i saw that he left but people going to critisize him why ?
i dont know may be he have some personel issues and also u dont pay him for this so u have no right to criticize him …
and also keep going this thread as it will be help full for all If u want to learn Forex u have to do it your self …
Not Depend on any One for life …
Hi all,
I’ve been watching both threads.
How did I end up following them?
My full time work requires me to fly all over the world,crossing several time zones,spending only 24hrs wherever I am and keep traveling the whole month. So day trading wasn’t an option. I tried some set and forget break outs but they are only profitable if you trade them religiously every day, as usually winning rate is 60%. If you don’t trade everyday ,you lose that 10% edge and your money.
I started googling weekly set ups which are more suitable for me and ended up here. I did further research I’ve found where this whole idea came from…it was public since early 2000s. If you google “First Strike” and “First Strike Plus” you can find it easily. The system is pretty much the same conclusion Metin came to after analysing these signals.
I believe that these systems can be profitable in the long run but as I stated in the other thread 15 pairs,holding on for a week and risking 15% is scary to me.
I don’t have much experience or time but I’m willing to contribute if we are going to focus on this weekly set up and try to tweak and optimise it.
There’s no point in trying to invent the wheel from scratch. The blue print is already public. Usually these kind of strategies get abandoned after the the person whoever is marketing it makes some money. So I think there will be room for improvement.Loveislife and his friend already made improvements by adding pivots,res/sup levels etc.
As I said I don’t have much time to deal with “tasks” and “assignments” but I can do my best to contribute in research.
Iyi gunler
Hi Metin,
I think this thread, A Real Trading Edge, Quantified: Trading and Stop Management should be read, re-read and then read once more. (No link; I’m still a baby)
My interpretation: you can flip a coin and still win, so long as you manage your money and risk.
That may just be the Holy Grail. And why we don’t have winning accounts.
The other link provided by PeterK (I think) went to a webpage with an article describing why most traders lose, even though their picks are generally right. That’s a bit of eye opener as well.
I’m no expert but I got a lot from those two pieces alone.
It’s a shame PeterK couldn’t finish what he started (that’s not a criticism).
Steve L
Hi Paul and Metin and others who have taken an interest in this thread.
I do apologise for my action but there are too many other priorities and doing this on Babypips does not rank. Reading some of the comments there does appear to be some people who are sincerely interested in what I was saying. Just to let you know that I use some very serious mathematics in doing my analysis and not the standard tools. I am pleased that one reader picked up on the Monte Carlo Analysis - yes I do use it in streamlining the trading decision making process. There is a leading edge perspective of the market based on a thing called Brownian motion that I will not dwelve into and if you wish you may look it up on the net. The way that I play the game starts with the thesis that each event of the time series is an independent event and that every that you call technical analysis is nothing more than our minds putting meaning on to those random events. Now this will come as a shock to you all but from my perspective these so called trends etc do not exist but we create them through our meaning. Okay that is where I am coming from. Now how does this help you and you may ask how do I trade random events. Well it is not all that bad because there are times when the time series moves out of these random gyrations and stages a performance that has an element of predictability (for those interested please see the Hurst Exponent). That performance for the retail trader takes place at the opening and it coincides with the Gorrillas waking up from their slumber and coming out to play. It is at this opening when the retail investors are to small degree on a level playing field. I emphasise small degree because it will move very quickly into its random motion and the element of predicatility that was on offer will dissapear.
So the direction I was heading was this and I offer this to the Paul and Metin and the few who were interested in where I was heading. Get to know the opening, and get to know it well. I have given you one book on the opening range to consider ie Fisher and you can look up the net for others and you may wish to consider Crabel. Please do not trade on the concept of market profile, I will not explain the reason but you may wish to view Steidlmayer discussing it at the Chicago Mercantile Exchange. I do not know if the video is still available. This does not discount its importance. The book will give you a way to structure your understanding the market and the trading day. This understanding alone will elevate you from a novice. Unfortunately I cannot recommend anything else because I do not subscribe nor use technical analysis and chart reading. Just remember this Trading is about sound decision making and that must have its basis in evidence. That is it.
Paul and Metin thank you and it has been an enjoyable few days, even if for a moment. Thank you for the others who followed and humble apologies to all. Glory is fleeting, but obscurity is forever. Adieu
[QUOTE=“PipityPopityPo;545258”]Hi Metin,. The other link provided by PeterK (I think) went to a webpage with an article describing why most traders lose, even though their picks are generally right. That’s a bit of eye opener as well. L[/QUOTE]
Hi, can I have the link? I can’t seemed to find it. Thanks.
Addio, Peter. And thank you for the perspective you’ve provided.
Hi Zane,
I’m an idiot. I can’t even remember how or why I found the article now! I’m sorry for misleading you (Metin as well).
But I found it again in my browsing history…so now I’m clever again!
But, as a baby, I can’t insert a link so I suggest you Google, "What is the Number One Mistake Forex Traders Make?"
The article was written by David Rodriguez, a Quantitative Strategist, and is posted at Daily FX.
I hope it helps.
I’ve long been a believer that the only system that works is the one that allows you to control what goes on in your head. The rest is just noise.
The system advocated by LoveisLife is a good one because it strips away the decision making process and thus the headgames; the first couple of posts in MeiHua’s thread I mentioned above have information in them that seems to support the stop loss and limit levels that LoveisLife advocates, as well as the opening levels which are, if you think about it, random considering the fact that they are based on historical values from a random number generator - the market.
Actually, you could try reading everything from MeiHua anyway, (now that’s one smart cookie).
best,
Steve L
google search on below text
’“The Logical Trader” - Thread to develop manual trading using insights from this book’
HI there,
Considering the recent intervention of PeterK, do you still wish to continue developing this system?
I was wondering if there`s an indicator already build that can show the leveles.
Such a tool would be of much help in backtesting the strat.
Regards