My Trading Log

Thanks, had to copy/rip “”""" that one “”""" . :smiley:

Thought I’d give this simulator a try since I have a relatively free weekend, and I’ve got it up and running. Pretty cool…lol

However, I’m now having a problem placing orders with it…I keep getting error messages in the journal about invalid stops. The strange part is when I first tried it, it was working ok. Then don’t know what I did…changed pairs, time frames etc, but then that problem came up. Unfortunately the scripts are exe files, so I can’t look at the code to try to troubleshoot it. It seems the s/l, t/p, order prices all have a whole lot of extra 0’s. Have you had this problem at all and any suggestions to resolve it?
Thanks :slight_smile:


Really funny video! Thanks for posting it!

No I haven’t seen this phenomenon unfortunately. The journal is full of messages but it does what it should.

When you wrote exe files you don’t mean real *.exe files right? I’m guessing you meant that the files are compiled and not possible to edit.

I use it on an Alpari demo which has the pipettes, maybe that could be a difference?

As usual when something on a computer doesn’t act properly, removing and reinstalling it (the expert and script files) might be worth trying if you haven’t already.

Sorry I can’t be of more help.

Yes when I wrote exe files I mean the compiled ones…non-editable…lol…or I should say they are ex4 files for mt4, but that’s just the programmer in me…lol

I played around with it some more and for some reason it only seems to work with the eurusd. I did reinstall it, but to no avail, so I guess I’ll become an expert on eurusd…lol

Thanks anyways :slight_smile:

Last time I tried some analysis here it didn’t go so well and then further wanderings led me to find VSA.

I’m currently investigating a couple of strategies. While VSA will be my main focus I’m hoping to be able to supplement it with one or two other strategies.

I’m going to post later about what I require of a strategy.

Tonight however I’m going to stick my chin out again and risk whatever shred of reputation I might have analysis-wise :slight_smile:

Below is a weekly chart of EUR futures on Globex. The week before last was a high vol down week and all you could read everywhere was that EUR had had it’s run and from now on it was downhill. Last week was even higher volume and in candlestick language it was a spinning top or if we’re kind, a doji.
What does that mean? Well, as I understand it, it means that the Smart Money (SM) have shown no interest in participating in the down move. In fact that high volume obviously must have contained more buying than selling or it wouldn’t be a up candle. So, who’s been buying?
My guess is SM has been absorbing selling from not so smart money. SM expect higher prices ahead.

(It might be worth mentioning that Globex volume does not quite agree with tick volume from Alpari or FXCM - in this case I put my trust in Globex volume)

I noticed on DailyFX that their pretty sure-fire view that EUR was going down has been replaced with a more uncertain view and several analysts over at FXstreet are short term bullish on the pair. I guess maybe that adds some credibility to my view.

I welcome all thoughts and input here. It would be interesting to learn what conclusions other traders arrive at regarding which direction EURUSD will take next week.

I’ve made my best guess here using elements from VSA. If anyone has a different VSA analysis I’d love to hear.

edit: I just thought I’d add that elsewhere I’ve seen some expecting a head and shoulders pattern to develop. That’s just to point to how difficult the market is to predict.

I think it was Joel Kruger at DailyFX who was watching and expecting that pattern to complete.

I’d hate to be wrong now on my view but it didn’t go well last time I differed from those guys in my view. However as of right now they seem to have turned a bit more uncertain.

We’ll see, maybe we both can be right.

Good day to you. I know you are very systematic in your search for better information to take your trades. The link below is to a very good thread on analysis. They are using something called a LFX charts to show the realative strength of the currencies . It is a chart that compares a currency to a basket of up to 20 other currencies and gives you a good veiw of the impending movement it is losing or gaining used with your volumes might be usefull. I myself find simpler is better and don’t try and predict the future I trade in the now… LOL :eek:

             Great trading to you  Ken.  :)

daily candle chart - Forex Factory

Thanks Ken

Again you’ve expanded my horizons!

Timingcharts make it possible to view the USD index, but these LFX charts seem to make it possible to view also other individual currency indexes. Could be very useful and I will investigate it thouroghly.

Let’s suffice to say that I’m considering selling signals based on doing the opposite of my analysis :rolleyes:

I’ll look into why my analysis crashed and burned later. Although I based it on a weekly chart I feel that it most likely can be said to have been wrong.

Right now I’m hard at work with my other strategies. I have come to one conclusion though. I’m going to focus on daily time frames. Only when I’m consistently profitable, if that day ever comes…, will I maybe look at shorter frames again. But by then I might not care to. (there is one exception to this rule, but that’s the general plan.)

Back to work

Just wanted to say thanks again for that simulator…LOVIN’ IT!!! :smiley:

All (almost…lol) weekend I just played with it. Found out I can use other pairs after all, but not the yen ones for some reason.

I loved the way I could start on a Sunday (or any day for that matter), place trades during the Asian session, and then skip to the next day’s Asian session, place some more trades, then skip to the next day and so on for the whole week/month, and it keeps track of my trades for that whole time. All within a couple of hours and I could focus on the session that is my prime trading time.

I specially liked being able to speed up & slow down the price movement…lol…I slowed it down when price approached my trigger, then I could speed it up again to find out the results…either it would hit my t/p or my s/l within a couple of seconds…lol. It’s amazing to see how price moves in fast forward!

Last night I tried my strategy on demo and I kept wanting to speed up the price movement…lol…silly me. In spite of that, practice paid off and my demo trades were 4/4.

I definately recommend it to everyone!


I’ve mentioned this subject before in this thread but I guess that not until now have i been ready to accept this fact: I’m going to trade daily time frames and that’s it.

It’s been a conflict inside me since I know that if I had 8 hours per day in front of the London session I could surely be consistently profitable just following the trend, entering on the counter waves.

Anyway, to summarize, I now accept that trading dailys is; safer, less video game like, much less time consuming.

Ironically that’s how I began quite a while ago and now I’m back there. I can honestly say that these months have humbled me and any get rich quick dreams are long gone. In other words, I’m slowly aquiring the right mindset - if oneself can be the judge of that…

My goal now is to become consistently profitable exercising good risk and money management.

As for the poor analysis I did the other day, I must have forgotten to take my meds that day or something. Looking back it’s pretty obvious that the spinning top probably represented a second week of distribution. Price was supported while huge volume shows that there’s a large amount of effort, with very little result - aka distribution when occuring after a uptrend.
It was a very good lesson to be wrong. Making mistakes is the best way to learn. I guess I must have learned a lot already then :slight_smile:

Alexander Elder says “show me a trader with good records and I’ll show you a good trader”

There’s definitely truth in that. In spite of this it’s been something I’ve neglected to do. Until now that is.

I’m pleased with myself as I’ve created a very simple trade record template and an even simpler diary template.

I’m more and more learning to treat this like the business it is and this is another step on that path. A step I should have taken long ago, but better late than never.

Been busy lately with all sorts of stuff and forex has suffered.

I’m currently back testing my way through a method I thought of all by myself and if the results are worth the effort I’ll post it when I’m done. Going through daily charts from 1989 to today, so it’s gonna be a while.
After that I’ve got several other methods to back test.
I’m following a thread here called win ratio by the user trevpick. This thread contains a setup which is very interesting and is high up on my back test list.

Life in general is good and it’s even getting nice and warm here in Sweden.

I’m planning to do a complete restart of my live trading when I finish with my back testing. I plan to divide my Oanda account into several sub accounts. This is because I intend to trade a few methods simultaneously and that’s the best way to keep their performance separate.
I have now completely accepted that I’ll trade only methods that are either based on daily bars or that are of a set and forget type.
I’m done with obsessing about forex all day long. I will deal with forex only in my own time and as efficiently as possible. I’m not going to spend my life staring at a screen, it’s better quality of life to trade longer time frames. And quite likely, just as or more profitable.

After all, compounding steadily is what counts.

I also plan to look at NickB:s method again having been inspired by Phil838, a user who has become a tremendous asset to BP in a short time.
I did look at NickB in the beginning but for reasons that are lost in the fog of the past, I shelved it. Maybe a mistake, we’ll see (my forex to do list is depressingly large and growing).

Let’s take a moment here to check again what happened after my analysis. It’s true that price dropped on the very next day after my bullish forecast, but after that it stalled and hasn’t been pushed down further since. In fact it’s now trading above the spinning top weekly bar that I based my hypothesis on.
After all I was analyzing weekly bars, so maybe I was a bit to hard on myself. Still the trade would have caught a big draw down and so far the potential reward has not been very attractive.

Todays bar isn’t exactly suggesting a bearish move either. Price was pushed down during the early part of the day on low volume and when volume increased from Frankfurt and on, price action reversed and the Eur/Usd has been pushing higher until late NY. Now there seems to be a correction going on on low volume.

I know I shouldn’t shoot myself in the foot again by making more (uneducated as it seems) guesses. But what the hey!
I’m theorizing that the Eur/Usd will continue it’s bullish move for a while longer. DailyFX is expecting a lower top to be carved out before the next drop, but all the analysts at FXStreets tech analysis page are bullish in bias, so I have some support (pun).

Let’s see if I can’t get one right huh?

I was going through my bookmarks (gah i have sooo many!) and found this one.

Basically it’s a free site where you can build pretty Expert Advisors for MT4 without knowing the first thing about programming. Since I’m a complete illiterate when programming is concerned, I found it useful. Of course scrolling by hand is the best method, but also the most time consuming.

This is the link: Expert Advisor Builder for MetaTrader 4

As always, try at own risk. I’m not promoting, just sharing a find that was useful to me.

Eur/Usd moving inside a rising trend channel on 4H. My bullish view would be challenged if it breaks and closes substantially below the support trend line. Right now it’s in the middle of the channel space.

Let’s see what eur/usd has been up since my last analysis.
When I wrote that, price was in the middle of the channel, at the red vertical line.

Since then it went down and then up to hit the upper resistance trend line. from there it bounced and is now testing the support trend line.
Based on how that plays out I’ll either retain my bullish bias, or I’ll change to bearish.
We’ll see. Price action tomorrow will be on low volume due to 4th july in the US, so reliable direction might not be obvious until beginning next week.

The chart below is 4H btw, printed july 2, 2340 British summer time

Hi, I seem to have a problem loading up custom indicators (such as pivot points) in the simulator. Any idea what I could be doing wrong?

No, I’m sorry but I don’t know. I’ve used several custom indicators without any problem, like Zerolag MACD for instance and they all worked fine.

I wish I could be of help but tech stuff like that isn’t my area.

I just checked the EUR/USD and it’s almost impressive to see how it’s moving around the support trend line.

Clearly no break to the downside yet, but todays low volume means I’d want directional confirmation on Monday anyway before choosing any bias.

Trading week is over, so let’s have a look at what happened.
My prediction was that price would move on up, which it did until it hit the resistance trend line and turned down. That would have been a good place to take profit and an acceptable place to try a small counter trend trade. As we can see, such a counter trend trade would have worked out nicely as price fell to precisely hit the support trend line. Then volume fell of due to july 4th and the only noteworthy thing after that is that price is now locked between the 1.40 horisontal R line and the rising support trend line.
On Monday we will find out what bias the smart money has.

Even though this weeks weekly candle is red, the candle has a higher high and a higher low than the previous week. If time permits I’ll be looking some more at the pair over the weekend to try to determine my own bias.

The bars at the bottom of the 4H chart are volume. And the pair is of course eur/usd