Sorry to hear it. I haven’t started demoing the Wilder system yet so I didn’t get hit. In fact I’m in 13 positions using a 2 EMA crossover approach an am making a killing today (all demo, of course). I’m up over 2000 pips over the 13 positions.
NOTE: I don’t expect that to happen very often and I am kind of disappointed that this “quick success” is happening. I want to get into the nitty gritty of this 2 EMA system and get a feel of the emotional aspect. I really try to imagine the demo money as real money so I can start to come to grips with my desires/greed/fear, etc, etc.
Oh, I’m certain the “real thing” will be totally different. I’ve traded options on the NASDAQ several years ago so I kind of know what it feels like. This is different because instead of waiting out 3 months I’m watching daily.
What do you mean i beat Wilder today. I made 235 pips already today. About 100 pips trading my system on gbp/usd and usd/chf…plus i also trade inside and outside bars plus Pin Bars (but that is a whole new talk show larry) and those gave me 135 pips. So that was just over $2 350 for a day’s work…plus i get to play online poker for most of the day…lol
ps…Dont think about longing gbp/jpy until wednesday. Right now a new lower low has been made. So wait one day for a higher low…and once that high gets broken i can guarentee you 500-1000 pips…
Hi Chuck
i like trading the “Beast” Gbp/Yen on intra day basis,so thanks for the advice regards to waiting,but can u tell me which time frame you were refering to regards the higher low.I trade the 4 hrs TF
baz:confused:
ps…Dont think about longing gbp/jpy until wednesday.
‘Chucky’:
That’s what I said and that’s what ‘The Delta Phenomenon’ says too!!!
Put it this way: this time round it’s simple. It depends what happens tonight in Australia and the East (have you seen the ‘horrific’ percentages that the DAX, AEX, CAC, SMI, and the FTSE went down today by the way) i.e. if they turn around tonight then it’s all systems go (up) at the NYSE tomorrow BUT if they continue to fall tonight then we’re going to have a very ‘dismal’ day at the NYSE tomorrow BUT the NEXT day we’re ‘home free’ (and that includes GBP/JPY, EUR/JPY, etc. etc. etc.)!!! I’ll be VERY happy if it’s tomorrow for the simple reason that it’s then EXACTLY on a ‘Delta Intermediate Term’ grid line but hey, if it’s the next day, no matter.
Don’t worry. You are living to meet another day. As you know, the Wilder’s systems are lagging so don’t expect results immediately! Patients my South African friend.
Everything you need to know about my little “system” has already been posted.
But let me be very blunt in saying that if you can’t even put in the time and effort to go a few pages back and find my system on this thread and read it, then there is NO way you are ever gonna be succesful at forex.
Forex involve a lot of hard work and creativity and discipline. Forex is not a spoon feeding business.
if you used this sytem on the gbp/jpy weekly charts you would have seen the blue highlighted candle made a higher high. Then the next week the yellow highlighted candle made a lower high. If you went short around 223.53 you would have ride this rally down to 204.90 level. That might have given you 1900 pips over 5 weeks. Not bad at all.
I was amazed to wake this morning to find over 50% of my positions stopped out and the remaining positions nearly stopped. The markets are really responding to the FED’s cut.
My question/concern though is that this is the first time since the 70’s that the federal reserve has made a cut that large (at least I think it has been that long). In fact I’m most interested in the reason why they cut prior to their regularly scheduled meeting, which is only a week away. What do you think is going on? Is the US economy doing that bad to require that level of a cut? Is this just politically motivated given that this is an election year? Why couldn’t this cut wait one more week?
I’m sure this isn’t the best forum to post this but frankly I feel I understand the mindset of many of the major contributors to this thread (and I don’t know where else to post such questions).
Patients my South African friend.
