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255

I had moved my SL twice, a few pips each time, but I had to leave and decided +47 pips earned was better than 47 minus a 15 pip SL for 32 pips. What I am going to do is adjust my schedule so I don’t have to leave every evening. I really appreciate everyone’s input in this thread and yes, as used says, it is really simple. Very small losses but bigger wins. I do use an ATR 5 for guidance too. Good trading all, d.

edit: the A/$ went on for another 63 pips but I’m old fashioned, and just plain old, so I didn’t re-enter and instead went to bed.

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Eventually you fella’s are going to have to make a decision on exactly what it is you want out of this gig.

Is it to make money?
Or is it to look smart on an internet trading forum?

That is to funny because it is so true. step back at look at what you are doing and why you think you have to do it that way. Did some one else tell you to do it that way? Are doing what the market tells you to do to reach your goal or what some “trader” on a forum told you to do to reach your goal? Keep the real goal in mind $$ when you trade.

257

Your way of thinking how to manage your trades will get you far.

Controlling and managing your risk exposure at all times and ensuring you are adequately protected.

That is your job as a trader.

That’s where your focus, your energy and your attention needs to be.

This approach to risk & trade management and trading in general will let you never join the circle of sorry souls who burned their accounts x number of times.

What I am going to do is adjust my schedule so I don’t have to leave every evening.

Think about other risk and trade management options that are available to you.

What does an ATR print tell you and how could you combine an ATR print with an approach to your stop management for example?

258

The markets really couldn’t care less whether you simplified it either, in fact it doesn’t really about anything from a single retail trader’s perspective but at least mentioning it added to impact right?

On a serious note though that’s exactly what I mean - the markets are simple looking at it through a simplified filter (which a system adopts) allowing it you to pull off what you do. But it’s also what I mean by that it can be deceiving, from my perspective of the dare I say ‘true’ (or rather underlying) nature of them. The markets are as simple or as complicated as you want them to be but I’m pretty sure appreciating the complexity of not only price action but also fundamentals is what will give him that edge in the long run for his personal system.

4 lines.

2 of these 4 lines are giving me the direction, the filter, the signal and the confirmation to pull the trigger.

That is all what I need as a decision making process to take action.

I’m sure you’re doing just fine trading 4 lines, in fact by the tone of your posts you’re doing amazingly well but that’s all I’m putting out there for him as time goes on

259

How does that make you feel?

Keep it up then.

On a serious note though that’s exactly what I mean - the markets are simple looking at it through a simplified filter (which a system adopts) allowing it you to pull off what you do. But it’s also what I mean by that it can be deceiving, from my perspective of the dare I say ‘true’ (or rather underlying) nature of them.

I don’t call “dancing to your fancy word tunes” a hobby of mine.

The markets are as simple or as complicated as you want them to be

Right. How does it work out for you then?

I’m sure you’re doing just fine trading 4 lines, in fact by the tone of your posts you’re doing amazingly well but that’s all I’m putting out there for him as time goes on

Did you go shopping today in [B]The Forex Store.[/B] ?

On sale signs plenty about. :wink:

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Like a lot less of a fool than you are.

Keep being daft then.

Right. How does it work out for you then?

Did you go shopping today in [B]The Forex Store.[/B] ?

On sale signs plenty about. :wink:

Actually I had some light hearted discussion in it, and got lucky on G/U instead :wink: - about time anway. Not to bash but onsale signs are about as arbitrary as they get. One would even think that it’s what the whole oversold indicator is all about

261

" Not to bash but onsale signs are about as arbitrary as they get."

You remind me of my old college roommate who took the opposite side of any discussion just to be …well, just to be on the opposite side even if there was no merit or basis for his position. The sale area is not arbitrary, it’s there in red and green. Don’t trade if you wish but some of us are doing well or at least OK.

I had two small wins last night: +1 on the L/$ and +2 on theCHF/Y; no biggies to be sure but agressive stop moving kept me from a loss of either pair.

262

I had a friend like that back in high school actually, made general conversation very difficult. Makes sense that a bystander observing anyone who happens to have an opposing or possibly conflicting view to something would probably reach that conclusion if he’d only seen a limited scope of the discussion. I’d throw in you reminding me of judgemental somewhere in there if I were more spiteful. The core of this method is very common ground to alot of systems (including my own); there’s only a few things I obviously disagree with and tend to be fairly picky about making sure I provide the merit or basis you’re after in my posts. I vaguely alluded to it earlier, that on sale wasn’t exactly helpful as an example due to it being an almost aesthetic sort of idea. Btw on sale as used earlier actually refers to buying potential due to a similar concept of being oversold and so on a trivial note its there in red not green. But in short this isn’t the sort of thing that’s as concrete as a daily/weekly open high or low (give or take timezone chart disparity), different people will give wildly different perspectives -> thus arbitrary. Don’t get me wrong, I like this thing - or I wouldn’t have spoken so highly of it in other threads. And I’m definitely glad to see that the method on the whole is working for people, if looking at the stats on community sites like currensee the whole 95 factor doesn’t seem as far from the truth as one would hope.

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Btw on sale as used earlier actually refers to buying potential due to a similar concept of being oversold and so on a trivial note its there in red not green.
But in short this isn’t the sort of thing that’s as [B]concrete as a daily/weekly open high or low[/B] (give or take timezone chart disparity), different people will give wildly different perspectives -> thus arbitrary.

Hahaha!

That’s what this all about and in the ATT threads I might add.
Daily & weekly O-H-L.

Yesterday’s NY session GBPUSD & EURUSD dominant flow presented a stage for this daily & weekly O-H-L gig.

All what you had to do was plugging in this template and your individual GBPUSD & EURUSD play book and play it according to your pre-defined notes (rules).

Positive P/L took care of itself.

[B]There is no more to it provided you have done your homework, have your individual play book ready and play it.[/B]

There is no need for me to repeat what’s been pointed out over and over again by apache rider, A8T and xtraction. It’s all here in this thread and in the ATT threads.

And I’m definitely glad to see that the method on the whole is working for people, if looking at the stats on community sites like currensee the whole 95 factor doesn’t seem as far from the truth as one would hope.

That’s like saying, the “fools” :wink: who are trading off 1,2,4 horizontal lines [B]only[/B], depending on their personal preference, are destined to join the 95% club.

Nothing could be further from the truth.

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There is no more to it provided you have done your homework, have your individual play book ready and play it.

That’s what I’ve been getting at in those tangents I’ve gone on earlier, although not quite in the same tone - never forgetting the whole homework factor no matter how simple a presented system seems

[quote]And I’m definitely glad to see that the method on the whole is working for people, if looking at the stats on community sites like currensee the whole 95 factor doesn’t seem as far from the truth as one would hope.

That’s like saying, the “fools” who are trading off 1,2,4 horizontal lines only, depending on their personal preference, are destined to join the 95% club.

Nothing could be further from the truth. [/quote]

Actually, nothing could have been further from what I wrote. Didn’t think it was possible to misinterpret that to the point that you’d end up with the complete opposite of the message, come to think of it it’s surprisingly kinda funny

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That’s what I’ve been getting at in those tangents I’ve gone on earlier never forgetting the whole homework factor

Hahaha!
You haven’t even started to think about your homework, yet.

[B]You control the entry
You control your risk
You control your position size[/B]

no matter how simple a presented system seems

4 lines.

That is it.

Simple.

Actually, nothing could have been further from what I wrote. Didn’t think it was possible to misinterpret that to the point that you’d end up with the complete opposite of the message, come to think of it it’s surprisingly kinda funny

I told you that “dancing to your fancy word tunes” isn’t a hobby of mine. :wink:

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…never forgetting the whole homework factor no matter how simple a presented system seems

4 lines.

That is it.

Simple.

Thank you for reinforcing my point.

[quote]And I’m definitely glad to see that the method on the whole is working for people, if looking at the stats on community sites like currensee the whole 95 factor doesn’t seem as far from the truth as one would hope.

That’s like saying, the “fools” who are trading off 1,2,4 horizontal lines only, depending on their personal preference, are destined to join the 95% club.

I told you that “dancing to your fancy word tunes” isn’t a hobby of mine.[/quote]

And I’m not sure anyone really cares. But it’s clearly because you suffer from being unable to interpret even a basic message in the first place. Without assuming it to be some sort of attack on you and your favoured system at any rate.

And you know this how?

This is obviously beginning to escalate from a rudimentary discussion/light-hearted joust into a personal issue beyond (or rather sinking below) anything really constructive toward xtraction’s thread in the first place. Let’s keep any future online-ego dynamics in the off-topic section/on each others pages - and off this thread.

To make it at least slightly worth reading for those seeking something meagrely useful take it as an example that systems can be applied in variety of ways and still be viable, and even that the simpler a system the more freedom for personalisation (arguably adding to complexity?)

267

That’s settled then.

And I’m not sure anyone really cares.

Anyone else cares who is trying to get their P/L into positive.

But it’s clearly because you suffer from being unable to interpret even a basic message in the first place.

Excuse me but my way of thinking is just to simple to leave room for interpretation.

Without assuming it to be some sort of attack on you and your [B]favoured system[/B] at any rate.

My P/L decides what system I use at any particular time.
I play no part in it. :wink:

And you know this how?

My positive P/L tells me so. :wink:

Let’s keep any future online-ego dynamics in the off-topic section/on each others pages - and off this thread.

Agreed.
My ignore list takes care of that.

268

[/quote]
Wrong. Speaks for itself really.

[/quote]
“Hahaha!”

Your “positive P/L” tells you absolutely nothing in respect to that, “keep at it.”

That’s all that was needed. If you’re going to continue this bs here try do it without resorting to trying to quote me out of context. You really do have a ‘simple’ way of thinking.

Anyway onto a more thread-related topic here’s U/J this week which has been more or less ‘on sale’, for a while now, anyone following the specified entry rules would have no doubt gotten faked out plenty of times but eventually gotten out incredibly well:

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Nev

I was looking at your U/J chart and how did you know Thursday’s opening price on Tuesday?

And Thursday’s on Wednesday? and Friday’s on Thursday?

That’s the kind of stuff I’d like to learn a lot more about!
thanks!

Oh… you changed your chart… never mind!

270

I didn’t. I tend to just throw on horizontal lines for openings that end up stretching across the entire width of the map. If you’re referring to the early entry arrows I was editing them out as you wrote that reply - this was a retrospective chart example not a live traded one if you were curious. Fyi I don’t trade strictly with the method (although daily/weekly opens/closes & highs/lows are something I’ve been using from the ATT thread) and it’s definitely proven it’s worth as a skeleton sort of model for a beginner’s framework

271

Hahaha!

Very refreshing sense of humour, d-pip.

Nev does not even know the rules of this play.

[B]price crosses weekly open from beneath Tues through Fri = enter long[/B]
[B]price crosses weekly open from above Tues through Fri = enter short[/B]

Daily directional bias of price is an additional filter.

What did USDJPY price do on Tue last week? :slight_smile:

It is to simple for him. :wink:

That “fake out” crap is taken care of with trade management as laid out in your play book with specific rules.

Oh… you changed your chart… never mind!

Hahaha!

272

I haven’t posted in over a week but I have been watching. Several things are obvious:

  1. Others have been verbally “assaulted” because they have spoken in favor of this method. That shows how people behave when they can’t win a debate with logic or reason.

  2. It is not about me. The “assaults” that were at me really had nothing to do with me. It is all about the frustration of those who make the “assaults”.

  3. Some still can’t face the obvious facts put forth in this thread. They are still hung up on “trend”, “support”, “resistance”, “multiple time frames” and other illusions and myths.

  4. Some are really “lost” when it comes to trading. Price goes up and down. You either have a profit or a loss. That is all that matters. But the focus is rarely on trading. Instead, traders “assault” posters rather than scientifically analyze the ideas put forth.

What is there to argue about when it comes to the weekly open, daily open, previous week’s high/low, previous day’s high/low? Price will either cross a line or it won’t. Nothing else can happen.

The question for me is whether posting on BabyPips is futile or not. This place seems to have become “CryBabyPips”. I have seen that a couple of new “trend” threads have started. Rather than point out that “trend” exists only in the mind of the trader, I just read the threads and smiled. Why spit in the wind?

The weekly open trades and “on sale” trades paid off very nicely again this week but only a few seemed to have noticed.

273

What’s funnier is a kid trying to tell people what to do :slight_smile:

…Nev does not even know the rules of this play.
It is to simple for him. :wink:

Wrong.

Well almost - apparently spelling is too simple for you

used does not even know that there are more rules of this play.

“…It is to simple for him. ;)”

And please, don’t throw in another “my positive P/L tells me so ;)”

Somehow I’m not sure you managed to fool anyone in the first place. Although you sure as hell came across as one.

Unless you happen to be xtraction, used, you’re about as elligible as claiming complete understanding of ‘this play’ as I am.

Not to mention accusing someone else of not understanding it

This is his presentation of a method.

The entry criteria as he has presented suggest that you
a) buy when a pair appears to be 'on sale’
b) trade in direction of daily and weekly flow.

Given that you obviously missed the first crucial pages of the thread in the first place:

To boil it down to someone who has admitted to lacking basic interpretative skills, what I’ve done is combined this with his ‘on sale’ filter for maximum efficiency.

As we have both mentioned there is a fair degree of freedom that a system allows for and this is a combination both of xtractions’ ones.

Put another way what you’ve done is look at my example, gleefully point out that I don’t understand the method (one of the methods listed), laugh, throw smug smilies around - before realising that I’ve actually adhered to the rules of both approaches. (Which you were completely oblivious to).

And unless you make sure to point that out (which has been done) and illustrate how to go about it (a little less hesitant on that) a newcomer who has just jumped on this and is suffering 50% drawdown due to twenty failed trades because he saw yet another ‘simple’ system and decided that his homework was done but never had the consistency to pull through every move. xtraction has more than warned that the trades implied have been carried out by an experienced player but your egomaniacal bouncy ball illustrations and simple winkies aren’t exactly deterring over-enthusiasm.

Maybe I’m worrying too much but unlike you I care more about other people’s ‘positive P/L’s’ having reached my own.

Hahaha![/QUOTE]

“Hahaha!”

What’s funnier is a kid trying to tell people what to do

On another note I’m sorry to all & xtraction that this thread descended to the bickering that used and I are both responsible for propagating. I guess one good thing thing that has come out of it is that the replies alone would have kept the thread ‘alive’ so to speak, (& seriously off-topic) although it would also help test the system conceptually, arguing on technicalities etc.

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Thankyou Xtraction

I like it!

Pick a spot, when price crosses it in the direction you want saddle up and ride the hair off it until it quits and lays down. Then get off, turn it loose and wait to do it all over again.

Obviously the previous weeks low, or the weekly open would be a nice place to wait.