Hi people, my new system I am working with, spent a few 18 hour days watching this possible strat.
Here is a detailed outline from today.
Wasnt happy with my last strat, so needed something differant, more exciting, so I tried this one out, and I like it…
Main Varibles
RVI----25
Stochastic Oscillator–5K-3D-30 slowing-Low/High-smoothed
CCI----30
ZigZag pointer ( similiar to Goldminer1)
You seem to have to be watching the screen like a hawk to make this work. I’m wondering if this is something you’d burn out if you had to do it for any length of time? It just strikes me that there’s easier ways to earn 70 pips or so but maybe you like the action 
Yeah, you do have to watch really close, but what happens, is you start to see things that you dont usually pick up on, if your in very good tune with the flow of the pair. If I was 100% on the ball, ( and note making this thread on the fly ) I could of probably had 120 pips in that same time frame. I also learned a few things doing this thread… Like the momentuem after the trend change for instance. Being right there, foucused on just the action, there were alot of pips left behind. BUT, also, those pips I detailed, were very sure pips, and most of my entries were on the money.
O, I love the action… I have the time, Im a stay at home Dad, with 7 free hours on my hands, making the most of it, I need change…
Hey Folks, just some updates,
Need to make a change
Stochastic Oscillator–[B]5K[/B]-3D-30 slowing-Low/High-smoothed
Change the %k to 14
Very important factor of this system, is the Stoch, DO NOT make a trade, till it confirms thru the Blue/Red crossover,
The RVI indicates the DESIRED MOVEMENT of the price. If the Stoch is below the RVI, the next big move will be SHORT, might not be within the next few minutes, but soon, it should move downward. We are looking for the proper ZONES to trade in, The tops or the bottoms, and when the stoch crossover, ( blue/red) and the RVI points in the desired direction, THEN, we make the move…
Rememeber, trying to reduce the risk is a very important move.
Thats why I really perfer not to make choices when the stoch and RVI are in the middle limbo… Not really a clear indication, but can be KINDA seen in later time frames. But, is that reducing risk? We are looking for SURE pips…
Like I said before, you can use this in a few differant ways. Its up to your style…
You can play the bounce, the extreme tops and bottoms, just the tops on a downtrend, or the bottoms of a uptrend, ( which i think is good plan, ) In the end, its seeking the trend turns, that makes the money,
Im tinkering with a EA for this strat right now. So far, so good. It wont be 100% hands off, you still need to manually turn off the EA, and then turn back on when the time is right, and trade direction set. Need to play ahead of the game, be ready to pounce on the right time. JMO, its allllllllllllllll about entry timing. The faster you can set that trade up, the better. The EA will make a trade, in instant the time is right. Then, you can control exits on your own benifit, wheather 3-5 pips, 20 pips, when the turn is approching, or whatever, but ENTRY is the key, thats just my opinion…
Im burning the midnight candle on this, and Im close…
Have a great weekend,
Junkie Alert!
somewhere, deep in the back of your mind, you know this isn’t how professionals trade. you’ll fight the idea tooth and nail but one day you’ll look back and see that I just wanted to help…
trading like this… you will burn out, and your demise is assured, but I highly doubt there will be a thread to document that.
Its all a piece of the puzzle akeakamai, its how I grow…
And, your probably right, but each and every step I take, Im getting wiser, and this is just a step.
My whole point was finding the peaks of the trends. And right now, Im doing pretty dang good.
I do agree 100%… Im feeling it right now actually…
But training for a fight, you’ll get burned out… But once you see the potential, burning out isnt so easy to do. Then, it just becomes redundent…
But, the fight becomes a bit easier when you know the person your fighting… When you know his tendancies, and at that point, when you see “winning” in your head, it gets to become fun. It starts to drive you…
Something along the lines of the bodybuilding workout, German Volumn Training. You do 10 sets, of 10 reps, per movement. By set 6, you cant push to your 10, but oddly enough, by set 8, you can push to 10 again… Isnt that odd?
I think of it like this… Imagine digging dirt all day long, everyday, 12 hours a day, with a shovel… Or standing around taking food orders, or pumpin gas, of sitting infront of a machine, watching parts drop out of it for 10 hours a day… That will burn you out… No?
I used to be an electro plater, on a bigger scale, alot of arm work, not to mention the dangers of being around products that WILL melt your hand in 1/4 second. I got burned out… But, you burn out faster, if your effort isnt paid properly. Pay me $50 an hour, I will tell ya now, The burn out process is a bit slower…
Sure, over time, and probably this week, I will have a 100% better way OF USING THIS INFO in impemented in my system. Its new to me… I just discovered it. My objective, was to find the perfect entry, and be as close to 100% sure of it. Its getting very easy for me to spot my entries now, they pops out to me almost instantly…
Now, entry is important, no? If you have that, its a step up the ladder. The rest is money managment… Of course, the whole mind thing plays a part, but when your confidence is high, and you have a great chance each and every time you trade, it make it a bit easier during the process.
Some people here cant even make 20 pips a day, or dont want to make more then 20 pips a day. But you can make 20 pips a day work, and in a big way, thru proper money management…
But in the end, the main key to trading, in my mind anyways, is ENTRY… That perfect sweet spot… I need SURE PIPS, not maybe pips, or hopeful pips, SURE PIPS…
Sure Pips = Consistancy = $$$$$$$$$
I dont get burned out from trading, I enjoy sitting at home, listen to my Radio, and treating it like a home based business. I have lunch breaks, I have daily errands. But I also know, ALOT OF FREAKIN MONEY CAN BE MADE
What burns me out, is doing the reasearch, backtesting, number crunching, trend line placement, note taking, then finding out, the system is a failure, and starting alllllllll over again, but with more knowledge then before…
I know, I know, I can easily just use someone elses program, or system, or crap, even pay $50 a month for signals. But why play the game, if you dont even know the game.
Forex is my life now, If Im asked a question from a friend or family member, I want to know what Im talking about. Not with a reply, “I use someone elses system, I just place trades, I really know nothing about it, to be honest”. I want to know the workings of EVERYTHING…
On a failure documentation, its funny you say that, cause Im in the process of a Forex Life Journal thru Video. Kinda Like a Body transformation time lapse, but financial transformation… The house I want, with a walkthru, a test drive in my dream car, and then, obtaining those things. When you get a taste for something, even just a little, and you want it, burning out doesnt happen so fast… It actually makes you more focused in obtaining your goals…
I know I might sound like a crack pot to some, but thats just me… I strive to be the best I can, I give 150% on everything I do, wheather its brushing my teeth, or mowing the lawn, or changing the trash, I dont halfass it, and I definitly wont do it on my career choice, and business…
Evryone is differant akeakamai, and in the end, you do what works for you, you do what you enjoy, or the method you enjoy. The same reason Atkins works for some, and not others. You either like it, or you dont, and when you dont like it, you quit…
Hey, sorry for ramblin,
Great profits to you this week,
very nice!
