Yep, agree to disagree… Hope you found your wealth in your new “map”…
By the way, if you don’t mind me asking, how long are you been trading and if you are profitable. If you are profitable, how long? I will probably take it into a consideration about your responses in-regards to “skills”…depending how profitable you are. It’s always good to learn from someone who have been there and that he apply those skills…
Thanks!
It’s amazing how many posts I have to go back and read because I was still sleeping lol. Thanks for your concern PipnRoll, and the many others. I have a clear level head on my shoulders now. I am glad I posted when I was really upset. It’s going to be great to go back and read :). As far as a break goes, it’s crunch time right now xD. I don’t have to trade, but I still have to research.
I’m about to be full time employed within a week or so. The job I actually want and have a good shot at getting is going to be pretty hard physical work, 10-12 hour days 50+ hours a week with pretty odd hours. That being said as soon as I start I will not be able to research, design, or even trade. I’m going to be extremely exhausted every day and will pretty much just be working and sleeping and banking all the money. My personal goal is to save 10k to put into my account in that 6 month window I desire. So when I do come back, if my strategy is not in order, I will not be able to trade even having the money. Good news (I’m sure everyone will clap lol), is that with 10k in my account I would invest $500 (5% account put into trade) and have a risk of a 2.5% loss per trade (or even around 1.5% if I can get really really good at determining draw down before it happens) and my gain will vary but assuming I hit my mark, I will make 2.5+% a day when I trade. The goal is hopefully to get at least 2 trades a week. I would love to have 5 trades per week, but I would most likely have to bend the rules or trade a different system to do that.
Back to the frustration I was having. Everyone here knows I use Microsoft excel. Due to the extent of the mathematics I use, If I alter one formula, I get entirely different results in my output functions that are what I use to place the trades. Last week I altered 4 of them (absolutely necessary). I have a new system. I have to restart yet again in determining the rules etc. The concept is the exact same as I was trading on pg 14, I just simply corrected the errors I had that I didn’t notice this past month so it would actually give me the correct results to trade.
All that being said, All my spreadsheets from the past 2 months now are worthless. I have to retest every single day in the past two months in order to find the pattern in the output so that I can effectively trade successfully. Realistically I want 6 months to a year of back tested data. And I have to test 2 possibly 3 time frames. Assuming it takes me about 3 minutes per one spreadsheet to test 1 pair, multiply the by 5 pairs, thats 15 mins to test just 1 previous day of back test data. It’s already been 10 days in April, if I test each pair for every day which I will most likely have too… thats a minimum of 2 hrs and 30 mins just to test April. Not even review the results. As you can imagine, that’s why I had been mainly forward testing my old error ridden sheet for close to a month because It sucks how much more time I have to put into the testing aspect. Its amazing how dedicated I was in the past, I would spend 10 hours a day pasting data into excel no problem, nowadays It kills me. I will be back later, I do have something to post. A nice little picture for everyone. Maybe test your pattern recognition skills.
Hello again pipNRoll
I was just about to try and delete my part in our conversation when i saw your lastest post.
I see what you are trying to say and thats fine. I have nothing to prove and neither do you.
I should also think a little more about the way i reply to people i dont know. Lesson learned.
Its a great site, i’m sure you get alot out of it too. Lets just forget this conversation if thats ok with you, except the part where we wished eachother a great weekend.
The problem is, someone can practice, modify, adjust, improve and attempt to perfect all they want. But if the core of their premise, theory, concept, whatever you call it, is wrong, they will never “get it right”, no matter how hard they try.
Has anyone taken the time to read LegOnd’s thread and attempted to understand what’s at the core of his trading method?
If so and if you understand the Forex Market Structure and Hierarchy you should quickly realize the core premise of LegOnd’s method is incorrect. He can work on it until the cows come home and it still won’t work.
Forex Market Structure | Who Trades Forex? | Preschool
I’m sorry but that is not how it works. 1 unit of volume equals 1 tic, and has nothing to do with the amount of money invested in the market.
PS And he won’t listen to other folks that try to help him, calls us haters. :17:
So if It didn’t work I wouldn’t be generating thousands of views, have achieved the level of success I have achieved, nor would I have so many supporters. Take your sh*t and leave. Do not post in my thread again. Thank you.
Lool … Theres always some action going on
Dont know the history between you guys so lets put that aside but 1 trade = 1 volume… d-pip is correct.
If that where true, why does volume vary slightly per broker and yet open and closing price are always the same? I tried looking up exactly what volume means as quoted by the broker, and yet there is nothing on the net.
No, on a retail FX platform 1 trade does not equal 1 unit of volume. Retail FX platforms are only showing tic volume. Tic volume equals how many times the price changed within that given time, has nothing to do with trades executed, orders triggered or buy/sell money entering/exiting the market.
I thought 1 trade = 1 volume and tic=time between 2trades. Please clarify d-pip
Dont bother with clarification…i get what you mean .Thanks!
No sh*t the volume the broker gives is not the money out in and out of the market. How many times do I have to say I DO NOT use broker volume. I calculate the real volume via my price equation (that banks and brokers use by the way). So lay off it.
I don’t understand. Those who do not believe in how I trade or if my concept is valid. What importance does it have to you? Why even waste your time posting in my journal meant for me in the first place? Makes no sense. Have a good weekend
Peronally i am trying to follow and understand when in fact i should be sleeping at this hour. Not about belief. I’m off to bed.
[QUOTE=“WinPsych;620443”] Peronally i am trying to follow and understand when in fact i should be sleeping at this hour. Not about belief. I’m off to bed.[/QUOTE]
I’m not upset at you man lol. Sleep well, tomorrow is open.
Okay, please explain how you calculate the real volume, I’m confused?
Clearly you didn’t read my pg 14. Nonetheless I will still explain.
Money directly moves price. Correct? Let’s use EU as an example. As more money is taken out of the EU pair, ie Euro’s are traded for US dollars… The exchange rate itself goes up. Why is that? Supply and demand you could say. The less Euro’s in the market, the more valuable Euro’s become in respect to dollars (assuming their is a cap to how many Euro’s are actually inside the market, now their are less Euro’s to Exchange for dollars therefore it costs more dollars to buy euros…). Makes sense so far yes? Now what causes the Euro to go down in price? Same thing visa verse… More people come to the market with Euro’s and exchange them for dollars. Therefore the market now has an excess of Euro’s and dollars are deemed more valuable to future investors so to speak.
Now keep all that in mind while I continue. If you do not believe the money put in and taken out of the market directly moves price from point A to point B, then you reading on is a waste of your time. Now what does this have to do with volume… Volume = the actual amount of money invested/withdrawn from the market during the given time frame it is being quoted for. There is nothing wrong with the volume the broker gives us. Since so much money is traded in the foreign exchange per second, its nearly impossible for the broker to give you the exact amount of money (quoted to us in integer form) per the time frame requested. So for the most part, brokers round the integer values given to us. Rounding the money isn’t even that big a deal… Brokers do not directionalize the volume they give us. Price goes up and down yes? Money IS directional, it goes in AND out of the market via the actual exchange itself. Since they do not directionalize the volume when they quote it, its like absolute valuing the negative money (money coming out) and adding it to the positive money (money going in) for the Total volume as i call it, the volume they quote and you see on your screen. I’m not interested in the volume the broker gives me. I wanted to know exactly how much volume it took to move price from point A to point B, not the excess volume as well, I wanted to know the EXACT volume. Through much studying and “scientific” testing i suppose you could say, I figured out exactly how to calculate the real volume as I call it. I determined volume is price dependent, and that movement was the direct result of the “real” or as i call it “net” volume. I could go into much more detail on exactly how i found it etc, but I should probably just save that for my book…
The thesis for my masters degree if I ever decided to get one: inverse of price multiplied by the movement of price (in pips) equals net volume. So for example, lets assume you wanted to know the volume for a candle, but only from open to close… the equation looks like this. V = (1/Opening Price)*[(Close-Open)*10000].
Almost forgot. I just showed you how to calculate the volume. NOT the money. the volume is quoted in integer form, not monetary form. I am under the impression one Unit/integer of volume being quoted is actually represents 1 Lot in the FX market that has been exchanged. 1 Lot = $100,000 therefore I multiply the Volume by 100k to determine the money.
Are you satisfied? Now do you want to completely disregard my concept which goes way more into depth than that simple equation i just explained to you? Maybe you should go back and actually read what I am doing before you disregard me as some stupid kid. Thanks.
I’ve just carefully read this explanation and over the last month I’ve actually read your pg 14 explanation at least 8 times. I do understand what you’re attempting to do, sorry to say the core theory of your trading method is incorrect.
What you’re doing might make sense if you were trading in a centralized exchange, NYSE, NASDAQ, NIKKEI, NYMEX, etc. but not in retail FX.
The overwhelming majority (80%-90%) of the daily FX trading volume takes place at the interbank level. The trading volume at the interbank level is never passed down to the retail market via market makers or ECN brokers.
For example, a 50-million dollar or 1-billion sell EUR/USD order could be executed at the interbank level and you wouldn’t have any clues it happen at the retail level.
Where did you learn this stuff, maybe from someone trading stocks?
PS again 1 unit of volume does not unit equal 1 lot exchanged. No, no, no, 
Then if I am able to figure out what 1 unit of volume does represent then I will have the correct answer in monetary form. That’s the beauty if all this, I do not need to know all the bank information. I can reverse engineer the real volume (bank volume is present/determined in the integer value). I could divide upper-Lower volume/open to close volume and probably get a similar result… The money is what makes It more precise.
I didn’t learn any of this anywhere my dude. I figured it out on my own. If I am unable to determine exactly what 1 integer value of volume represents in monetary value, then you really got me thinking that maybe I shouldn’t even convert it.