Expanding The Daisy Chain

Nope, not dealing with danny anymore. He couldn’t back up any of his financial claims. So, it became painfully clear he was tottally FOS.

The method, however, works very well when executed correctly. I’m currently working on my own tweaks to it.

P.S. As much as I can’t stand the windbag johnnyB, I’d like to not see this thread devolve into another pissing match between us. JohnnyB, if you are reading this, lets not pollute this thread any futher with our bickering. If you want to make remarks to me just PM me. We can trade barbs all you want. I’m honestly beginning to think you are one of those trolls from, “something awful dot come,” that goes on forums to stir up trouble and then write about it.

Shandy,

I see I’m not the only one this “Maroon” directs his swear words and derogatory statements.LOL. His only literary accomplishments must be Playboy and Husler magazine. His Mama must have dropped him on his head at birth. She gave him no toys and he only had one thing to play with his whole life hence his always posting about it.

Glad to see somebody else was at the live sessions and remembers things the way I do. When I read your post I laughed out loud about the Bugs Bunny comment. I was thinking the same thing. This guy must have watched so many cartoons he thinks it’s a normal way of comminicating.LOL.

When my oldest son was around three years of age he was watching a Bugs Bunny cartoon on a Saturday morning when Bugs said to Elmer �You’re Despicable�. For a long time thereafter he repeated this constantly when he didn�t like something someone said. This was really funny hearing it from a three year old. Family members now remind him of this all the time.

It�s too bad some people never get beyond the cartoons and grow up. Have you noticed that when ignorant people run out of words in their vocabulary they always resort to swearing and name calling? There rants always contain the word penis or slang thereof because that�s all they think about all their lives. There thingie leads them around their whole lives always getting them into trouble.LOL.

I�ve never been sworn at and called names in a Bugs Bunny sort of way until now. I find it quite amusing the childish way this guy attempts to communicate. I really think he needs to change his alias to �TAZ� the Tasmanian Devil as it fits his personality.

He says he doesn�t want to pollute this thread but still he posts using foul language derogatory statements. He has the language of a drunken bar room brawler and wishes people to look upon him as intelligent. He starts a fight then (SEE POSTS #107) calls me a troll for responding to his posts.

Another intelligent post by ThePhoenix;
Nope, not dealing with danny anymore. He couldn’t back up any of his financial claims. So, it became painfully clear he was tottally FOS.

The method, however, works very well when executed correctly. I’m currently working on my own tweaks to it.

P.S. As much as I can’t stand the windbag johnnyB, I’d like to not see this thread devolve into another pissing match between us. JohnnyB, if you are reading this, lets not pollute this thread any futher with our bickering. If you want to make remarks to me just PM me. We can trade barbs all you want. I’m honestly beginning to think you are one of those trolls from, “something awful dot come,” that goes on forums to stir up trouble and then write about it.

He states above he doesn�t want this thread to �devolve�. What the heck is his primary language, Mountain Hillbilly? He must think a dictionary is a book on big dongs.

He states he no longer deals with Danny and it became �painfully� clear. It only became clear to him after he lost his shirt. DAH!!

Like most people of this level of intelligence he starts a war of words and attacks unarmed. After a few meager attempts at writing an intelligent post he soon runs out of words and begins attacking with foul language and name calling and attempts to convey to the readers he�s the innocent party being attacked. He now wants me to PM him as he obviously knows he�s losing this war of words and doesn�t want it to continue in public.

Originally posted by ThePhoenix on the old Daisy Chain thread:
The only reason we held on for so long is because of the fundamentals.

Originally posted by JohnnyBSmart on the old Daisy Chain thread after the above post:
I watched the noon session yesterday and the comments by you and some other advanced session traders were terrible and led some newbies to margin calls or at best a very painful loss. I watched as many newbies jumped aboard and lost there shirt. I wish I could have viewed the session earlier and I would have been more vocal. The damage was already done and the system kept blanking me out so had limited ability to post comments.

The above post was on the old thread after a disastrous loss by many newbie traders. This post was the beginning of his rants and it kills him I was right about Danny. This was a Noon reversal period which Danny called backwards and of course ThePhoenix jumped in following his fearless leader. The statement �we held on for so long because of the fundamentals� was a crazy statement as the fundamentals he spoke of pointed to a strong downtrend.

It was a weak noon reversal not amounting to anywhere near 150 pips. The fact they jumped in way too early and took a heavy drawdown after going long on the basket only magnified the mistake. The Forex analyst Danny was reading and masking as his ingenious analysis of the market was making a long term analysis that the currencies GU, EU ,GJ , and EJ would go higher. The key word was long term not short term. Dah!! The reason I knew this was I read the same thing earlier that morning. This was an against the trend trade as the trend was heading sharply down. All they did was expand their stops to make it worse.

The way to avoid this type of situation is to trade between support and resistance and ignore the news. Trade the noon reversal but know what it is and what�s happening first. Knowing where the PA will likely reverse is much better then the crazy 150 pip profit idea.

Making a reverse trend trade with the trend heading up or down on a sharp angle is a fool�s bet and only fools do it. Yes you may sometimes see that the PA will reverse trend and go beyond the upper resistance or blow through the lower support but don�t kick yourself in the butt over it. It�s like betting double sixes on the crap table, the odds are against you so don�t do it.

Trade well and prosper,

Johnny

You assumed so much and outright lied so many times in your last book like post there are too many things for me to respond too.

For one it doesn’t bug me at all that you were, “right,” about danny I could care less then and I could care less now.

[B]The reason I think you are windbag is because of the way you behave. You make comments about how a method is wrong or people are doing something wrong, but don’t offer up a solution.[/B]

Plain and simple, I think you are the biggest FOS windbag I’ve ever encountered. That’s why I don’t like you, it has nothing to do with danny. It’s because you talk about things you don’t understand and have never experienced in practice as if you backtested and forward tested over the last year.

Secondly, I did not lose my shirt trading with danny. In fact in the time I traded with him my account quadrupled.

Thirdly, the core concept of the method was to find the prevailing trend and go with it.

Fourth, you act as if you were in the room with me all the time and traded all the sessions I was in. LOL, I traded the paid session most of the time. The ONE time I saw you in the free room I wasn’t even in a trade.

Like I said before [B]I openly challenge you to start your OWN thread and call trades, actually trade them live, and post the results. Show us your UBEr sKillz.[/B]

Otherwise shut your pie hole, you are sucking all the oxygen out the room with your windbag, that could be used for the people who aren’t wastes of human life.

Put up or shut up! That is why I don’t like you. You are all talk and no walk.

Can’t we all just get along??

Seriously, all this happened close to two months ago and you guys are still at it? Someone (I don’t remember who) once said something on another thread that fits this situation perfectly…

“Arguing on the internet is like running in the Special Olympics. Even if you win you’re still retarded.” :slight_smile:

Johnny was right about Danny, but Phoenix was right about the method being profitable. You were both wrong, and both right. So can’t you guys make up and stop bickering about it??

While you have a bit of a point here (and I mean a bit), why don’t you tell everyone how to trade in such a way that our accounts will quadruple in a few weeks.

Looking forward to the education.

I’m not the one going around critiqueing a method and acting like I have all the answers.

Maybe not, but you are boasting about how great you are. C’mon champ, make champs of us all.

boyfx,

Danny tried to silence me from the beginning as the traders on my first live session were following me and not Danny. This was not my intent but I could not stand silently by and watch these poor trading skills cost these traders their hard earned money. My analyst was dead-on that day and my entry and exits were perfect. I don�t pretend to always get it right but that day it was a beautiful thing and was really quite easy.

You may remember this live session, as I told traders not to sell when they reached 150 pips as Danny directed. I told them when to sell only the USD pairs and to hang on as the JPY pairs had a ways to go yet. When the JPY pairs hit resistance I told everybody to sell. Everybody was quite happy except Danny but he just laughed and said he had the lowest pip count at 140 as I remember it.

He e-mailed me saying people were listening to me and not him and implied this was not good. He wanted me to set me up on my own live training session and he would pay for everything. We would split the profit and in return for this I would give him my system of trading. I never answered these e-mails as this was just Danny thinking I had a system and he was trying to steal it. To me it was like somebody with a third grade education asking a brain surgeon for his system of operating on somebody�s brain.

He silenced me on subsequent live sessions and I could only post to him. I warned him every time of his wrong decisions but he didn�t listen. He attempted to discredit me with false statements both on the live sessions and on the thread. I gave up trying to warn newbies with pm�s and quit the live sessions.

Danny knew as you stated I could make him look like a numb skull and that�s why he kept me from posting on the live sessions. He could have learned something as well but he was arrogant. Instead he tried to neutralize me instead of just taking my advice. On every live session I was posting to him his entry, direction and analyst of the market mistakes. I told him to tell traders to get out but he ignored me not wanting to look incompetent. He would just keep saying I hope this reverses soon as this was not instilling confidence in the eyes of his followers. I would then tell him where each pair would hit support and resistance and he would say I was crazy as this would never happen. They all hit or slightly breached my quoted numbers to him and promptly reversed. I�m sure even today he�s scratching his head wondering how in the heck I did that. LOL.

The truth is I have no reason to lie about this or anything else for that matter so please do not insinuate that I�m lying. Danny didn�t need me to make him look like an ass he did this quite well all by himself. I will have no financial gain in saying any of this. I saved a few from losing their money and that is payment enough.

In my learning of the Forex I have not been without help from traders who were willing to give me advice and I will be forever grateful for their help. It was there way of giving back from others who gave them a leg up and so I continue posting in their honor and giving back as they did before me. You and all others may believe what you wish but I know my conscience is clear.

Many say I�m not teaching anybody anything but they are just not listening. Traders will continue to look for the Holy Grail as people in the past looked for gold in California and Alaska. This is just human nature I suppose. The truth be known as I�ve said many times that the answer to profitable trading is not some system or some exotic indicator. It all boils down to knowledge. The more you know the more money you�ll make. There will always be that person who stumbles on that big nugget of gold but a geologist they are not nor will they ever be.

Good to see you posting again,

Johnny

Where did I do that?

My saying I quadrupled my account while trading in dannies room was only to correct johhnies assumption that I had lost my ass on one of the bad trades he supposedly witnessed.

The part where danny offered to set you up in your own room and try to make money off of you, that sounds very much like something con artist danny would do.

The part where you said you called the exit strategies, that sounds like your imagination getting away with you.

Really johnny, if you were that dead on, on that many pairs, it’s something you’d be able to repeat with reasonable accuracy.

So, why don’t you start a thread and call some trades ahead of price action?

Then when you are right you can feel all smug knowing I don’t like the taste of my foot being in my mouth. (though I’d still think you were a windbag)

Hello, Are you guys listening ? Can you guys please stop fighting over here ?
I believe this thread is meant for education and sharing trading ideas.

Hello phil838,

Good to see you here. It was ThePhoenix who started this attack on me on post #107 and I’m not one to turn the other cheek to this newbie. He doesn’t like anybody commenting about his beloved Daisy Chain or Danny Boy.

I don’t ever remember seeing you trade the Daisy Chain and your posts were all common sense reasons not to trade it. You brought up things about risk and reward which we good things to consider. If you remember as I do ThePhoenix stated the stops would never be hit and 50 pips was the real possible loss.

I viewed four straight losing sessions and in all sessions the stops were hit and some were even moved out even farther before getting clobbered. He says he wasn�t even trading the free live sessions which is either a lie now or a lie then, either way it�s lying. He lied about making 615 pips in a noon reversal period after saying he was in right after Danny. Danny showed a drawdown of 200 pips before a reverse of 236 pips. How do you get to 615 pips profit after being down 200 pips and I don�t need to hear about pyramiding the trade as I wasn�t born yesterday.

A noon reversal is just what the name implies a reversal of the trend and then the PA usually reverses again going with the trend. The reversal ends at the subsequent reverse to the trend. You don�t keep counting pips earned for that day, week, month or year and then post you made all these pips on a noon reversal.

You say that the �ThePhoenix� is right about this being a profitable method? I have a lot of respect for you Phil as I�ve read a lot of your posts but this statement goes against what I�ve read in your posts in the past. This buying of five currency pairs is not a method nor a system but just simply a purchase of five currency pairs. You said yourself on the previous thread that you could not see any benefit and if you�re going to purchase 5 contracts why don�t you just buy 5 contracts of one pair. I do trade more then one currency pair as I�m sure you do as well and we both know that there is correlation between the GBP and the EUR but not all the time. It has been said that trading a basket as if it were one entity would soften the blow if one or two pairs were going down as the others were going up. I believe in a more flexible strategy. If I�m in a long trade with multiple pairs I sell them individually if need be. Why keep betting on a dead horse.

I don�t know how you enter a trade Phil but if you read the �ThePhoenix�s� posts his entry explanations are all incomplete. Telling someone to wait for two or three pairs out of five going in the same direction after finding all are trending in the same direction is just plain nuts. Waiting for the magical number 150 pips profit is just as crazy. This is like listening to Danny Wall�s brain dead brother.

The newbie reading and believing this stuff will do just as he writes. So let�s say a newbie finds the 5 pairs going in the same upward direction and switches to the one minute chart sees two out of five are up and enters the basket trade. Two minutes later on the Daily the PA hits a major resistance level and plummets like a rock. What do you tell this newbie now? I know what I�ve seen in the past like this statement �Oh well you can�t win them all you must have read the trend wrong� or statements from the likes of Danny Wall �The markets are doing funny things lately and they are hard to get right because they are moving against all logic. The point is that this method as you call it is only as profitable as the trader is knowledgeable about trading. If you can�t see this then you are not who I thought you were and please will the real phil838 please come forward.

Give me a freaking break here Phil at least be as honest as you were on the original thread. This guy has gone off the deep end a couple of months back and hasn�t returned to normal thinking. He thinks he owns this thread as he did the previous one. He can�t spell, write or trade and can only swear and make rude comments. I don�t believe I�d want my sons following this guy. How about you Phil do you want your children to follow this guy�s lead?

Surely this kind of teaching or comments couldn�t meet with your approval. I�m trying to get newbies to do their homework and not believe everybody that�s posting to be some trading G_d just because he posts a lot. You can learn some things here and on other sites but the problem for newbies is determining the good information from the bad. Even reading trading books doesn�t tell you if the author knows anything about trading or is just making money selling his books.

Try to remember Phil when you were a newbie. How many books did you read that were written by idiots and how many threads did you read believing the people posting only to find out later they were all nuts?

I�m not trying to save the world but just to give a little back as did the people who helped me. If you call this a profitable method, please define what exactly you mean by a method as it is unclear to most. As far as profitable, only a few say they still have any money left following Danny�s method which by the way changed constantly. The smarter ones traded and used there own entries and exits.

How do you make money with such an unclear entry and a dumb exit strategy? Do I still set my stops at 300 pips and keep moving them so they never get hit? Please help us out here Phil. I�m not being facetious here; if you�re saying this is a profitable method then you must have tried it. How did you do it? I�ll believe you and I promise not to call you names or swear at you as some people would do even if your views differ from mine.

Anxiously awaiting your response,

Johnny

Hello cprao,

Sorry you are not learning anything here but you have to read and follow the commentary. You state � I believe this thread is meant for education and sharing trading ideas� and you are correct. You will learn more with these posts then you have in your entire life so quit your complaining. It will teach you the good the bad and the ugly. If you cannot understand what’s being said here then ask a question and somebody will try to answer it.

Trade well and prosper,

Johnny

I have no interest in debating things with you, Johnny. It’s pretty clear you’re trying to drag me into this fight, and that’s not going to happen. The only answer I’m going to give is the same one I gave on the original thread that got deleted, just so people don’t get a false impression about what I said after reading your post.

I said I believe the method is sound if you are an experienced trader that understands money management and has mastered his emotions. However, the method is near suicide for the inexperienced trader because of the soft stop you’re supposed to trigger on your own judgement before the hard stop is hit.

The other reason I gave for new traders not to trade the system is that it gives the false impression of high profits because of it’s inflated pip count, when in reality it is no better than most of the more newbie-friendly systems out there. Trading 1 lot on 1 pair is the same as trading .2 lots on 5 pairs, but this allowed Danny to say his method was making 5 times the pips of other systems. I do see the benefit in spreading the risk around by trading a basket in some situations, but not in this one.

I don’t think it’s a particularly good system, and I wouldn’t trade it, but if done correctly you should be able to make money with it. That, in my opinion, makes it a valid system. Just because I think it’s stupid doesn’t mean it’s not a real trading system. Personally I think MA crossover systems are inefficient and stupid, but a lot of people like them and make money off them. This is no different.

phil838,

Thank you for your eloquent post. It’s nice to read a post written by an intelligent person. I never wished for you to jump into any fight as I can handle my own battles. Thank you for setting the record straight that is all I was looking for here.

Trade well and prosper,

Johnny

ReaperKK,

I just reviewed your 8/18/09 charts. I�m sorry I didn�t look at these earlier. I see you lost money but I�m a bit lost on what your thought process and decisions were. It looks to be a bad entry and I see from your charts your reasoning process but it only proves that this setup is flawed. I�m not being critical of you so please don�t misunderstand me as I�m only trying to help you.

Looking at the one hour chart is fine but I think you�re your reasoning for looking at the one hour chart is flawed. You traded for 30 minutes on the one minute chart which is half a bar on the one hour. If you think about this strategy it makes little sense to trade for only half a bar. Would you order a keg of your favorite beer take a sip and leave the rest to go bad?

Ask yourself why do I look at the H1 chart at all if I’m only looking at trend. Who cares what happened hours ago as it has no bearing on what�s happening now. The only time you need to look at the H1 is if you are going to stay in the trade if it goes bad because the H1 will tell you where the PA is eventually going to head for resistance or support.

If you can�t stand the drawdown anyway because of your bank account then this is a mute point and looking at the H1 is the first thing in your method you need to change. The next thing I’d be questioning is why enter the trade at all over three hours after the reverse?

I will comment on this further but wish to hear your comments first before continuing. Thank you for posting these charts as everybody can learn from this. It is hard for some to admit a mistake but it’s the only way to learn from them.

Trade well and prosper,

Johnny

Hey Phoenix,

Thats good to hear. I don’t use the basket any more, while i did find it a good strategy i just find it easier to take 30 pips a day from one pair using the same amount of lots as i would use with the daisy chain. Still the chain has it’s place, and it does need tweaks to it to suite each trader i think.

Hope all works out and happy trading.

Boyfx;)

Phil makes a vaild point, although i do love the rivalry!!:wink:

Hey Johnny,

Yes i do remember your calls, but at the time i was following the crowd and was on the johnny has no idea what he’s talking about band wagon, silly boyfx! Deep down i could see it, but thought the sun shined out of danny’s ass that much i was blinded from so many things.

I can now see that i could learn a thing or two from you and I would like to learn how you use S&R? cause you seem to have a good uderstanding of how diff S&R levels are respected.

Boyfx;)

Not to stir up any trouble, but can someone recap for me why everyone hates Danny now? :slight_smile:

I was away from Babypips due to an injury and missed it. What did he do?