Kind of looks like they strapped a whole lot of shiny chrome, bright lights, fancy colored candles, moving averages and cool stuff on an old FX system Oliver Velez & company hawked a few years ago. Sales pitch sounds similar too, “you can make enough to buy a new house in only 5 hours”.
It was one of the first FX systems I used and made some pips with it, also went blind tracking it. But as I learned more about trading I realized there are easier ways of accomplishing the same results, simple stuff like the ducks. :19:
Couple guys who lost their jobs in the reshuffle at Cantors during last year’s fall-out designed quite a similar model to this one & are starting to put the feelers out for traders with a capital line already in place to do some kind of exclusive software/split-deal tie-in.
But they’re simply one of many attempting to transfer their previous corporate skills into a regular dollar stream. You can’t really blame them for hawking. If the product stacks up & they can match it with an impressive funding line, you got a pretty decent marriage & the commissions can rack up an impressive monthly take on volume throughput.
Trouble with peddling this kind of stuff via the retail chain is, you can be hawking a half decent piece of kit but your end customer is usually the ‘champagne taste/lemonade pocket’ punter who will be yanking your chain every 5 minutes when his toy town broker starts legging him on slippage/requotes/screen freeze/dropped access/time outs/delayed prices/etc etc.
Unless you’re in bed with an institutional set up, you’re f*cked trying to sling size around trading one of these models. The toy town broker will eventually squeeze you, or you’ll peg out due to the frustrations mentioned above.
You absolutely have to know the limitations & advantages of the market sector you’re operating in & cut your strategy cloth accordingly.
It’s not my system to post buddy, & even if it was why would I post it here unless I was looking to sell it? but considering my comments in the last but one paragraph of my previous post, I’d be looking for far bigger fish to bait if it was worth anywhere near what I thought it was.
I think the good people here are waiting for you to kick this 1 minute thing into action given the fact you’re the op & you’re obviously in some kind of groove already with your algo purring away in the background.
Why don’t you get the ball rolling & pop this thread out of first gear because it doesn’t appear as though there are too many forum members queuing up with their 1 minute charts stuffed under their armpit.
I am not sure what you are asking me to do… most of the posts of this thread have been irrelevant in regards to trading 1 minute charts. Some people have come by and discussed their strategies. And thats what this thread was for. Also posting a screenshot of a system, without the name of the system, and explaining how the entries and exits work is far from selling it.
Its not my fault that most of the people who posted here did not discuss their strategies on 1 minute charts. Actually if I could go back and take out the irrelevant posts in the forum, including the ones I made, i would and leave just the ones of people who talked about trading the 1 minute chart successfully. Then it would be a worthwhile thread showing various techniques of 1 minute chart trading.
I am beginning to believe that none of you have ever heard of, or actually can, trade a 1 minute chart efficiently or consistently enough to consider it a real methodology. If anyone is capable of this, besides me, please show me a screenshot of your stuff and explain exactly how you decide to enter and exit that market. If you cannot do that, this thread was not created for you and you are just wasting your time trying to shoot me down, just bc you cant do it yourself.
Is there a reason that half of you guys are even in here commenting on this thread? All i have heard is a bunch of crap aimed at me for starting a thread that is about MANUALLY TRADING ON A 1 MINUTE CHART. NO HFT NO AUTOMATED SYSTEM.
And if you arent going to or cannot talk about trading strategies on NEWBIE ISLAND, than what on earth is being discussed here??? Miller Time?? lol can some real traders please step up and help the newbies coming here to this thread understand the importance of learning how to trade 1 minute charts and not rely on predicting the future… i did not expect i would be the only one here to do this.
The worst part is, you have to resort to being a bit degrading?
Just because something works for you doesn’t mean it will apply to all, REGARDLESS of how successful you may deem it.
I already said, the ONLY reason I don’t like it, is I hate the babysitting. Babysitting sucks.
One minute:
Strategy? Sell the blue X, and buy the green one.
But why the hell would I sit there waiting, spending all that time, when I could be sleeping, and making far more pips, with far less hassle?
4Hour chart:
A no brainer huh?
We’re not scared. Nobody should be. It’s not that mysterious.
It’s just not worth the time investment. At least not from my point of view.
And as been asked before, when are you going to break out your holy grail? You’ve baited several into talking bout theirs. Without you participating in the discussion with anything other than “you can’t do it” statements, what sort of a useful conversation is it?
Excuse me but I was a little sloppy putting the arrows on the charts. Well shoot, it says the daily is not a valid image file. I could have traded this off a daily chart using my daily method but probably would have only been aiming for about half the daily range.
on the one minute, five minute and fifteen minute it all looks pretty much the same, just variations in the level of detail visible.
Oh yea, I know you are against Fibs and all that predictive stuff but they seem to work pretty good anyway.
Ummmm… on facebook Tymen just called me an idot… huh huh huh :18:
oh yea… almost forgot to mention. PayPal is a scam!
Ever since you responded to richhand’s 4hr thread about jumping in on the swings instead of trying to pick tops and bottoms my head has been doing a 360. Are you entering on the close of those candles marked with x’s? Not that it really gives me alot more insight but curious.
The Xs mark possible entry points. I usually look at a longer term chart using the same indi, then bias my trades accordingly.
And, yes. When I get an entry signal, and the stars line up, I use two entries. Each half the size of the total I want. One is a market, the other is a pending halfway up, or down the signal candle, but in the same direction as the first. Both stops use the previous swing high/low, or on the longer t/f charts, I just use the signal candle high, or low.
Again, I usually only mess with the 4 hour charts these days.
Easy trades, no hassle, and just a lot more free time:)
