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Thread: Your comments on my system please...

  1. #21
    [quote=Pipalicious;7515031#8221; Can you say there is a frequent denominator with mythical traders? The underlying rationale may differ (techs, fundies, etc.. .) But the'core' beneath is equal to another (other than risk management). [/quote]


    Yesthey all appear to have profiled the market and have a grasp of the reasons why price move.


    Tom: #8220;You see the orders and you just trade it. #8221;

    I think that quote sums it up. I remember why I began trading orderflowI remember I was trading a night I think it was the Asian session and something happened out of the blue, the entire market was moving and I remember thinking to myself, what the fcuk is that, and what ever it is I wish to leap on top of it, I mean this thing was just clearing anything out of it is way, there was no way you can eliminate money if you had been following that trade, no way, a few people say you cannot quantify probability of trade and that's bullshit. In the event that you were riding that trade the chance of going into profit has to maintain the high 90s, you understand why I believe that, it is because to stop this type of surge going through could take an equally opposing trade to come in and meet price someplace, but the prospect of that happening is so slender I just don't view it happening.I shortly came to realize it was a big order going through, why the market was behaving so mad, although I could identify it easier today and currencies are accountable, It was perplexing to me, since this orders wasn't respecting any kind of technicals that I could see on my chart.

    That is what I classify as a Tsunami Lol an order that appears to come from nowhere and does what the hell it wants. I probably said a lot, but I'll add that the market does have point of no return, I mean points when it'd take an order of magnitude to stop or transfer price the opposite direction.
    After that night my entire outlook changed, I dropped that trade but it believed me a much more important lesson and ever since I have been profiling everything single minute detail concerning how money flows and why. Some traders likely wouldn't have learn from this loss, but that loss believed me among the most important lessons I've ever learned.

  2. #22
    Quote Originally Posted by ;
    quote Yes, they all seem to have profiled the market and have a grasp of the reasons why price movement. Tom:”You find the orders and you simply trade it.” I believe that quote sums it up. I recall why I began trading orderflow, I recall I was trading a night I think it was the Asian session and something happened out of the blue, the entire market was moving and I recall thinking to myself, what the fcuk is that, and what it is I wish to leap on top of it, I mean this thing was draining out anything of it's manner , there was...
    Interesting, which you trade only high volatility situations, with no respect to fundamentals/ tehcnicals whatever, just pure order flow.

    It's a fair approach, however how do you deal with the spread, and how do you find these moves? Can you stay all day in front of this PC or the way?

  3. #23
    Quote Originally Posted by ;
    quote Interesting, in order to trade only large volatility situations, with no regard to fundamentals/ tehcnicals whatever, only pure order flow. It is a reasonable egy, however how can you deal with the spread, and how can you loe these movements? Can you stay all day in front of the PC or the way?
    It is a reasonable egy, however how can you deal with the spread
    Lol Gekko you always get right to the point, but no I don't trade the news, I'd really like to, because that would be a wonderful easy commerce, but would everybody else as you know what is good for your little guy isn't great for the banks so they keep us out with wide spreads. As for how I do it, well I am not going to tell anyone that little bit of advice.

  4. #24
    Quote Originally Posted by ;
    quote This is a reasonable approach, however how can you handle the spread Lol Gekko you consistently get right to the stage, but no I do not trade the news, I would really like to, because that would be a nice simple commerce, but would everybody else as well as you understand what's good for the small guy is bad for the banks in order that they keep us out with broad spreads. As for how I do it, well I am not going to tell anyone that bit of information.
    I get the thought

    I personally dont commerce the news, but still keep track of those.

  5. #25
    There's not any such thing as a system in FOREX, for the actuality that you cannot predict the future. Anyone telling you different is not anything more than a CON ARTIST who's Lobbying on behalf of BROKERS... BTW, the Lobbying in this and other FOREX Forums is pretty huge.

    FOREX TRADERS A.K.A. GAMBLERS that believe they can create a system or use indiors, James16 or whatever to Predict the upcoming behavior of a pair, they pretty much fall to the Gambler's fallacy...

    http://en.wikipedia.org/wiki/Gambler's_fallacy

    Nothing else to add. For today.

  6. #26
    Quote Originally Posted by ;
    There is not any such thing as a platform in FOREX, for the simple truth which you can't forecast the future. Anyone telling you different is not anything more than a CON ARTIST who's Lobbying on behalf of BROKERS... BTW, the Lobbying in this and other FOREX Forums is pretty enormous. FOREX TRADERS A.K.A. GAMBLERS who believe that they can create a system or use indiors, James16 or anything to Predict the FUTURE behaviour of a pair, they pretty much fall to the Gambler's fallacy... http://en.wikipedia.org/wiki/Gambler's_fallacy Nothing else to...
    Lol Well call me Empire gambler.

  7. #27
    It is up to your money management. For sure there is going to be a lot of weeks or even months when the losses will cause you to consider the expediency of being on Forex. Keep moving no matter what. It requires years as every other challenging skill on your life. You can't alter the possibility to lose. What you could change is the amount of money you lose. Allow the profits increase and reduce your losses as soon as possible.

  8. #28
    The BASICS look great, trading with the trend,
    and profit target larger than stop reduction.

    There's still much discretion in your entries it seems.

    Below are possible downfalls: (I scalped 1 min TF for 6 months, unprofitably):

    1. ) You begin taking profits before 20 pips on some transactions, because you see or understand things, yet still take the 10 pip SL.

    2. Bad cash direction, shedding 5,6, or 7 transactions in a row, are you really going to double up, payback commerce, etc? You state you won't, but when it occurs, with less experience, you get angry and frued.

    So with great money management (1 percent or so per trade), no emotional trading, and also strict Profit target and Stop Loss adherence,

    it's a fantastic start.

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