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Posted
Hi fxeasy5,

I am not sure if I should disclose my success-rate because this ususally leads that people think that they must achieve the same .... - but let's say it is little bit above 50%....

Risk % per trade is no prob: 2% per Trade

Potential Risk/Reward is mostly 1:4

I trade real money for a little bit less than 1 year and demo for 2 years.

I firstly started trading profitably for about 1.5 years ago

This is the meat I was asking for. :)

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In regards to the fact that you donΒ΄t show us live-stats , I take it for granted that you neither brag nor lie to us and now you certainly have my attention.

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Thanks for sharing your strategy with us. =D>

Posted

Hi fxeasy5 - Regarding the live-stats: It is a psychological thinggy (I make myself unneeded pressure and therefore do not react as I normally do when I trade) and has an other reason too (In fact I did this already earlier and had my bad experiences,...).

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Cheers

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fxfxfx

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More to follow - I am still at work...

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This is the meat I was asking for. :)

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In regards to the fact that you donΒ΄t show us live-stats , I take it for granted that you neither brag nor lie to us and now you certainly have my attention.

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Thanks for sharing your strategy with us. =D>

Posted

OK folks,

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I am @home and start to continue :-)

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Please understand that during my work-time I am not willing to write any chapters as my focus is my work and my trading.

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I started in the pre-thread a homework which I want that the users do this.

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Here a copy-paste:

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Find here a chart of todays GBPUSD 4 hourly-(naked)chart:

http://img849.imageshack.us/img849/7900/usdjpy240.gif

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Then draw swing high and swing lows (peaks and valleys) from the last 2 BIG moves (up-move followed by down-move or vice versa):

http://img543.imageshack.us/img543/797/usdjpyswings240.gif

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And finally draw horizontal trendlines starting from the swing-point to the right like here:

http://img193.imageshack.us/img193/2857/usdjpytrendlines240.gif

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And do not worry about right or wrong - It does not matter.

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Please do not use a gbpusd 4 hourly chart (As I did it already)

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You can use every tradeable stuff (big stocks, indices, comodities, currencies) 4-hourly and longer...

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Look how the price reacted to these line(s) and post your pics and comments.

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Cheers

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fxfxfx

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Find here a useful doc how to draw the trend-lines:

http://www.multiupload.com/HRZAV085S1

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All the thanks goes to soundfx - The author of this doc :)

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I already have the homeworks of:

crips, soundfx, harry007, grooter and izogrey -> It is up to you if you want to make another one ;)

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For those who already made the homework comes the 2nd part:

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When you "saved" your homework in a profile -> good !

If not -> Bad -> You have to draw them again ....

Posted (edited)

Last homework was to draw the the swings of the last 2 major moves.

Please start with beginning of the FIRST major move on the left.

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Follow the 1st impulsive swing -> Then usually a retracement-swing -> Followed by an impulsive swing,....

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Then one of these 2 things will happen:

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1) A swing occurs and the next swing will close above/below the start-point of the swing before -> If this happens then make this line in a different color.

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2) An impulsive swing is followed by a retracement-swing the next impulsive swing fails to go above/below the last impulsive swing and finally closes above/below the end of the last retracement-swing.

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Maybe a pic can explain this better:

http://img845.imageshack.us/img845/6871/trendchange.gif

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Hope to see more pics of you...

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Cheers

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fxfxfx

Edited by fxfxfx
Posted
And here mine.

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Still don't know how to attach pictures directly :(

As far as I know this forum doesn't support direct attachments so the only way to post pictures is to use an external site such as imageshack (as you did) or tinypic (as I did).

Posted (edited)

the white line is the break of the trend if price close below at uptrend or above in downtrend, the arrow show the new direction and the Trade

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http://s1209.photobucket.com/albums/cc381/harry4xx/?action=view&current=eu_h4_june07.gif

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hmm, not so many to trade at one pair , how many pair you trade FXFXFX?

Edited by harry007
that is realy a pain to show pics here at this forum
Posted

Hi harry007,

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I personally watch at 5-7 pairs.

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But I started with 1-3.

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Maybe it is also a good idea when you focus at the beginning to 1-3 currencies.

When you find your rhythm (in Terms of drawing these lines/updating these lines on a regular basis) and you are trained and skilled - then you can extend the amount of pairs ;)

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Cheers

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fxfxfx

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the white line is the break of the trend if price close below at uptrend or above in downtrend, the arrow show the new direction and the Trade

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http://s1209.photobucket.com/albums/cc381/harry4xx/?action=view&current=eu_h4_june07.gif

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hmm, not so many to trade at one pair , how many pair you trade FXFXFX?

Posted

Hi folks,

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As I see you all did your homework.

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I first must look at all your charts and analyze them.

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But what we have learned until now is:

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How to draw swings, how to draw support/resistance -> 1st Training

How to determine the trend ;) -> 2nd Training

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Maybe this will shed a little bit of light in case you are wondering why we are doin this stuff.

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This means -> At this stage (with the finalization of the 2nd Homework/Training) you should be able to see the actual trend ;)

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So:

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grooter: What is the actual trend of g/y 4hourly ?

alright: What is the actual trend of e/y 4hourly ?

harry007: What is the actual trend of e/u 4hourly ?

crips: What is the actual trend of e/u 4hourly ?

izogrey: What is the atual trend of usdcad 4hourly ?

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Hope to hear from you soon -> Hope the picture now gets a little bit clearer for you ....

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Cheers

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fxfxfx

Posted

Hi Harry,

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Maybe you will become "Neo" and see the matrix in a new way and clear ;)

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OK - folks you did your homework really good :)

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Now comes the last homework for the chapter.

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Do excercise 2 again at the same currency-pair, but with 1 timeframe above (In most cases this should be the daily charts).

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Cheers

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fxfxfx

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at hindsight I dream I where in that H4 e/u Trade , big pipvalue at green my entry, red move the stop and white RR now near 1:5.

can be trading so easy ?

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http://s1209.photobucket.com/albums/cc381/harry4xx/?action=view&current=eu_h4_june07b.gif

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I really see new the charts and more clear, special the longer TF

Posted

alright: What is the actual trend of e/y 4hourly ?

According to what you showed us, the trend would appear to be UP, although it also looks rangy at the moment as the latest 2 swings, both high and low, are inside the previous bigger one. So a new higher high above 117.80 is required to officially confirm an uptrend.

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P.S. - I like this exercise. ;)

Posted

Hi alright,

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Good to see that you learned to see the market in this way ;)

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What you see now is a very strong resistance-level as price tried to breach this level many times - We also see that we have higher lows (which shows pressure to the upward side). We won't see anything spectacular until the price CLOSES significantly above the last swing-high OR below the last swing low.

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One question alright: Where do you think price will go once price closed above the last swing-high-level ?

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Cheers

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fxfxfx

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According to what you showed us, the trend would appear to be UP, although it also looks rangy at the moment as the latest 2 swings, both high and low, are inside the previous bigger one. So a new higher high above 117.80 is required to officially confirm an uptrend.

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P.S. - I like this exercise. ;)

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