‘In’ GBP/ZAR. Same ‘deal’ for the trade.
‘In’ USD/ZAR. Same ‘deal’.
Another little ‘high payer’ ‘tidbit’:
EUR/RON buy at RTS LSTOP2.
Edit:
Sorry (‘typo’) error: EUR/RON buy at RTS LSTOP1.
Also:
As Craig has pointed out:
Possible USD/RON buy at RTS LSTOP3.
For those interested in following stocks (and can):
I’ve attached a list of stocks that are CONTINUALLY being very good to me!!! The ‘picks’ really are done by looking at the price, the sector, and which stocks have had extreme down moves in the past week or two (ideally in the past day or two). They are mainly financial stocks (my favourites and ‘standard’ but include some tech stocks as well that are in my opinion ‘cheap’ and affordable). Trading with the VSTOPS and SIS only. ‘Hot’ tips: Freddie Mac will ‘tank’ at the open and try to get into Time Warner, American International Group, Microsoft. Motorola has a HUGE gap to fill so watch that one too.
hello every body
i started to read the book and i picked the TBPS i am not sure if it is a good start to begin with this system or not as i read it before and i founded extremely hard to understand but i took 2 days to watch and do all the calculation through my excel sheet i picked 2 pairs to anlyis them with this new system the results for this early stage was definitely came with a surprise for me as the risk is not that much coz i am able to go out of the market if things goes against me early and it does work as well perfectly!!
I am so happy coz i thought i am an idiot coz i didn’t understand it before but i think i wasn’t that idiot as i was relying to the PSAR and i was closing my mind not to accept any other system.i never meant to say that PSAR is not working as it has it is own moment but i am still sticking to the 100% profit that i made and lose from the beginning of the year which is not actually good for some one who wants to do this for living.i know i am still far away than every body on this new system but i will do my best to know and digest all what u have been through
what i am wondering is that i can’t see any one who is really so happy about the results apart from Dale i hope i am wrong!!.again i don’t mean to say i am disappointed but i just don’t see the reason why people r not satisfied with the system although with a quick review with the calculations i can see some progress and a merit about it!!
i will keep on doing my home work with the excel sheets and i will take it from there
have a good day all
Akram
Hi Akram,
In regards to above, I went from zero forex knowledge to about 5-6% gain in my first 3 weeks of trading. Now that being said, so far this month I’ve had two positions that I’ve closed for 3% gain each, so I’m already up 6% for the first week of August. I can say that I’m happy about the results.
I think that people need to be realistic. For example, how many ever got on a bicycle the first time and were able to ride without ever falling? I know that I can ride a bike today b/c I had the perserverance to stick with it and learn how to ride the bicycle.
I think the same applies to forex. In my 3 weeks of trading in July, I could’ve easily doubled that gain had I not made some mistakes (mostly mindset but a couple of times I misread the charts due to inexperience). So to me, I don’t think anyone can expect to come in and “knock it out of the park” from day 1. While that’s ideal, there are going to be some bumps and bruises along the way.
I read a quote once that seems applicable - went something like this:
“If you can find a path without any obstacles, it probably doesn’t lead anywhere.”
So please continue your studies and stick around, because the best is still yet to come (at least for me).
Craig
Edit: Just checked my account and my positions that are open show a net gain of about 4.5%. Note: Nothing is made until they are closed, and the two that show a small loss at the moment are moving my way.
Hey Craig,
thanks for your post buddy i really appreciate your pushes for me . i don’t know what to say but i am still studying it but so far the results seems impressive to me i want to jump on the market right now lol it involves lots of calculations and i like that at least i am doing something with the other systems u just watch and u pull the trigger when ever u smell or see something that tells u go for it!!
Any ways let us see how things will go and i will keep u all posted with my results i don’t know any thing about the money management so far although most of the people in this thread talked about it allot .it will be another big story for me but at least not for now!!!
Akram
Hi Akram,
The basics of the MM system (as I’ve learned from Dale - I’m sure he’ll post his “book length version” later 
Each position should not be opened with more than 1.875% of margin.
So if you had an account with $10,000, then each position should get $187.50 margin or less. When you are opening the position if 18 lots puts you at 178 and 19 lots put you at 187.51, then you ONLY put the order for 18 lots.
From there you can have about 10-12 positions open simultaneously and be “very safe” from money management. I think Dale’s rules are no more than 30% of your account margined at any time. So theoretically that is 16 simultaneous positions open, but I prefer to stay a little below that for two reasons:
- This gives you a little extra cushion in the event of a drawdown (which you will see from time to time)
- This also leaves you with a little wiggle room for the day that AUD/NZD finally turns down! (Ok, so it gives you extra room to add some “good orders” when you see them, and AUDNZD short is one that someone has been waiting awhile to see
Other than that, always monitor your free cash and ensure that you’re “comfortable” with any positions you take BEFORE placing the order.
Of course the other side of the coin on when to take profit is pretty much wide open. One thing I can say, I’ve never met a profit I didn’t like
Hope this helps.
Also, there was some discussion about how leverage ties into this. The one difference this will have is that with 200:1 leverage you can open 4 times as many lots as you can with 50:1 leverage. For example, same 10000 account, your margin is 187.50, so with 200:1 leverage you can “get more” lots with that 187.50 than you can with 50:1 leverage. Of course, again trade with your head, not over it.
Craig,
yeah i heard about the 1.87% but i think that will be on the 10k account less than a lot it will be like 0.187 lot as the lot is 1000 $ woow i read it before but never counted them any ways thanks for the help
on my calculations for the new system (new for me!!) for the GBP/USD the price hit the target for today!!! i am watching the USD/CAD coz they r the only 2 pairs i calculated them into my excel that is good by the way the USD/CAD is far from the target with in 10 pips!!
I know the moment i will jump in for this new system the moment the target will never be met!! lol any ways let us see!!
Akram
Akram - My apologies if I wasn’t clear. The 1.875% is a fixed percentage that you use for margin calculation, and the 10k I referenced in the example was the account balance. I too trade with 1000 lot sizes, and the number of lots I actually place is determined by my current account balance times .01875 (1.875% of my account balance).
So if a lot was $5 (1000 lot size), and your margin was $187.5 (assuming your balance was 10k), then you’d be able to buy 37 lots, which would use a margin of $185.
Now if your account balance was only 5k, then you would be targeting 93.75 (1.875% of 5k) margin, which would yield you 18 lots. If your account balance was $1k, your margin target would be $18.75 (1.875% of 1k) and you’d order only 3 lots.
Hopefully this helps clarify any confusion that you might have regarding the MM rules.
Craig
Craig,
yes that is now clear for me thanks for being patient with me!!
Akram
now Craig
i have a question for u!!
What if the price didn’t hit my target and didn’t hit the protective stop as well shall i keep on opening my position for the next day or shall i close it for loss or gain?
edit: the target has been hit for USD/CAD and i was able to gain some pip as i jumped at the trade too late but i was just trying to try it hope that this was due to the system not just a luck!!
Akram
Akram - For this question, I’m going to assume that it is in reference to the Trend Balance Point System (TBPS). If it isn’t referring to TBPS then the answer may not be correct.
From what I see of the system, you enter based on close relative to the trend balance point. From there you reverse if the close is opposite the trend balance point (ie you are long and it closes below TBP, you go short). The only time you Exit is when you hit the target profit or you hit the stop. From there you re-enter on close as dictated by initial entry system.
So based on the above, you will only exit when you hit the profit target or a stop loss, and you will SAR when the close is contrary to the TBP relative to your position (ie if you’re long and closes below TBP, you go reverse to short).
That’s at least how I interpret the system although I’m not very well versed in it due to having not traded it nor even demoed it.
Good luck!
Craig
Take a look at the daily chart on that one. If you were using RTS on this last couple of weeks, I think you’d have done quite well from the looks of the chart. Although, now that I posted it here, the ranging condition will probably stop and it will trend
Criag,
well i think u r right i will try to follow what u r saying and will tell u how things going yes i am talking about the TBPS as this is what i am trading with i don’t want to jump into any other system as this one is working so far and i still need to digest it more than that
Akram
Akram-
Now is a good time to exersize extreem caution expecially using a system for trading ranges. If you look at the EUR/USD and many many more pairs you’ll notice we’re at a VERY strong resistance line. The moves from here I expect will be violent. We’re either going to see a nice correction or a mean breakout. I’m leaning toward the correction. If you wanna always make money you’re gonna have to learn to switch to trend following systems when the market is trending and range systems when the market is range bound.
hey randon,
good to see u again here it has been a while since u sent any massages be careful u have been watched!!!
Well i don’t know i hope that the calculations i did for both pairs was right that and the target hit for both was right . I believe that this system works for both trending and ranging but it is a matter of couple of trades to catch the switching thing from long to short or short to long it needs some thinking more and more to catch it (for me not for u guys) as it is my first day for this system
Akram
I run across a problem that might be classified a bit academical, but here it is anyway.
The following consideration goes for high swing points, but it can be applied for low swing points by reversing everything appropriately.
In the first picture there are a few different portions of ASI lines. Exhibit A is an ordinary HSP, i.e. the middle point is higher than the previous and the next one. This is just by Wilder.
Exhibit B shows a situation where an ASI value gets exactly the same value as the previous one. Is this a swing point? I’m not sure, but I suppose that Wilder might say no.
If B is actually like in the exhibit C, you could determine that there indeed is a swing point, but you would need 4 ASI values for that instead of the normal 3.
But if B is like exhibit D, it looks a bit different. Is this a swing point? I think most would say no.
We could go on with this with even more equal ASI points, like in exhibits E and F, if exhibit B is not called a swing point, but I don’t see much relevance for practice here.
If you are reading the values from a chart, I suppose that in most cases common sense will tell you the correct answer. But if you look at a table, it might not be straightforward to see the difference between C and D.
Have a look then at the second picture that was generated by my SIS indicator. The black line is ASI. The pink line is the trailing index SAR, you can ignore it here. The blue line is the index SAR. The vertical green and red lines denote long and short trades.
On day A a HSP was formed. At B, there were two consecutive days with the same ASI. My implementation did not recognise this as a swing point, so the index SAR did not change. At C the trade direction changed, and here we accidentally have another place where there are two equal ASI values. What happens is that the second reverse sets index SAR much too high.
In this case the correct values are easy to see, when both HSPs are actually flat tops. But if we use only 3 ASI values for defining a swing point, exhibits C and D in the first picture cannot be differentiated.
Personally I came into that conclusion that I want to use only 3 ASI values to define a swing point, and I want to interpret the situation in the second picture correctly. This means that also the exhibit D in the 1st picture contains swing points, both LSP and HSP.
The third picture shows the indicator corrected as described. What I didn’t notice earlier is that there is even a difference in the trades at A. I took these pictures of DJIA early July 2008. Maybe these flat swing points are more common with CFDs than forex.
J.
SP2.bmp (13.2 KB)
SP3.bmp (9.49 KB)
Good (Friday) morning all!!!
Some very nice posts.
kaalilaatikko:
I am keen to read your post in detail and will do so shortly.
I just felt that I’d better ‘jump in’ here before my old friend Akram does himself a ‘damage’.
Akram (‘my China’),
You are wasting your time my friend (with the TBPS). It is by FAR the LEAST profitable system in the book. It MAY work for you for a time but everyone on this thread that has tried it out has made nice profits for a time but then the stops start getting taken out and ‘game over’.
I am currently looking at some ‘tweaks’ for it but even so: I cannot tell you that it’s something I’d go back to.
I just felt that I’d better ‘jump in’ here before my old friend Akram does himself a ‘damage’.
Akram (‘my China’),
You are wasting your time my friend (with the TBPS). It is by FAR the LEAST profitable system in the book. It MAY work for you for a time but everyone on this thread that has tried it out has made nice profits for a time but then the stops start getting taken out and ‘game over’.
I am currently looking at some ‘tweaks’ for it but even so: I cannot tell you that it’s something I’d go back to.[/QUOTE]
Hello Dale,
thanks for the warning
i am trying to read this system and understand it as i failed to understand it before as u know so it was a matter of challenge for my self!! but your words came to me not to give it a try i belive u on that but i just want to know it and do some home work for it as i was thinking to code what the guy said into an excel sheets i will not use it as a trade i will just test it to get the feeling of it as i went back for 8 days and i found it is not working properly as i thought it was although i spent so many hours to do the coding into the excel sheet.
Any ways thanks again .
so which system do u recommend me to start with after i finish my money with this system?? lol
akram
You need to read the thread 'buddy ‘ol pal’!!! We’re not ‘horsing around’ here any more (unlike what happened on the ‘other’ thread)!!!