FOREX PRO Weekly January 23-27, 2012

rashidin5178

Sergeant
Messages
244
Hi nicolebobbin and the rest of you guys,

To release the pressure on your mind that you need to trade on every single day without a rest and for those who feel we can't let every single move go away without take advantage on it, just take a look at my poor long term (2 years) trading plan. You can take it if you want and you may ignore it if you think it is not practical.
With the initial capital of USD4,000 and small green pips (3-8% of your available capital) in every trade you made, 5 to 10 trades every month, you can earn as much as USD1.5MILLION IN 2 YEARS PERIOD!!!!
The idea is, to avoid us too rushing to catch the boat because you have a plan that for me is logic to achieve and it is not difficult to implement. Just wait the signal and if we miss it, it doesn't frustrated too much cause according to this plan, we can wait another boat to come. With Sive wonderful analysis and helps, it become more easier to succeed.
But you can't draw your profit cause it will reduce your total profit at the end of your trading plan period.
Just be patience!!!!

Thanks and Best Regards
 

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Triantus Shango

Sergeant Major
Messages
1,372
sive, could you please explain how you decide what shall be the base of your fib retracements? i don't understand why you don't just draw fib retracements from the very bottom or high of a particular move, but also draw additional retracement structures within that larger move, usually from a thrusting candle but that candle is neither at the bottom/high of the move.
thanks.
 

Sive Morten

Special Consultant to the FPA
Messages
13,399
sive, could you please explain how you decide what shall be the base of your fib retracements? i don't understand why you don't just draw fib retracements from the very bottom or high of a particular move, but also draw additional retracement structures within that larger move, usually from a thrusting candle but that candle is neither at the bottom/high of the move.
thanks.
Hi Triantus,
This calls as "DiNapoli levels". The major idea is that Fib retracements could be built not only from,say, absolute swing high or low, but from any intermediate lows/highs, that called as "reaction" points. By applying of such approach you can get Confluence areas, where different fib levels coincide.
This demands wide description and explanation, it is very difficult to explain just in single post on forum.
Better if you will read his book.
 

Aldo Colombo

Corporal
Messages
107
Hi nicolebobbin and the rest of you guys,

To release the pressure on your mind that you need to trade on every single day without a rest and for those who feel we can't let every single move go away without take advantage on it, just take a look at my poor long term (2 years) trading plan. You can take it if you want and you may ignore it if you think it is not practical.
With the initial capital of USD4,000 and small green pips (3-8% of your available capital) in every trade you made, 5 to 10 trades every month, you can earn as much as USD1.5MILLION IN 2 YEARS PERIOD!!!!
The idea is, to avoid us too rushing to catch the boat because you have a plan that for me is logic to achieve and it is not difficult to implement. Just wait the signal and if we miss it, it doesn't frustrated too much cause according to this plan, we can wait another boat to come. With Sive wonderful analysis and helps, it become more easier to succeed.
But you can't draw your profit cause it will reduce your total profit at the end of your trading plan period.
Just be patience!!!!

Thanks and Best Regards
I second your advice, but your plan is not a plan it's a wish. Be careful by pursuing your wish you do not abandon risk management and lose your account. Less trades can be more profitable than trying to trade anything, still you will always have bad trades.
 

dharma1

Private
Messages
18
1.2853? What chart were you looking at? Lowest was when the market opened on Sunday at 1.287x.
hi beekay , I was hoping to direct you to IG index's charts as I was expecting their chart to show a low on Sunday evening of 1.2855 as this was the low that they had noted ,also ForexLive pointed out that the interbank market dealt at 1.2853 ,but now i look at IG chart for that period and they show a low of 1.2882 !! it is even more curious as i was stopped out from my long at 12860 that i held over the weekend :-( i also had buy orders in with them at 12853 !! which were not filled . Fortunately i re established my longs at 1.2865 ( which i held till 1.3035 ) ;-) . The same thing happened last week ie the weeks low was in Wellington NZ on Sunday eve , they basically go stop loss hunting . in summary i think the charting software programmes seem to start an hour or so after the market opens . i was going on price action not charts i guess .
 

rashidin5178

Sergeant
Messages
244
I second your advice, but your plan is not a plan it's a wish. Be careful by pursuing your wish you do not abandon risk management and lose your account. Less trades can be more profitable than trying to trade anything, still you will always have bad trades.
Hi Aldo,

Thanks for comment. Actually it is a plan. As usual, a plan is a guideline to follow. At least you have some target to achieve every month. I still confident this plan will success and it is my wish.
First, if you look at roughly available margin column, at the initial stage you have about 360pips extra and you only need 30pips for each trade. When you have a context to trade, and let say it goes against you, obviously you should get out immediately since you just need only 30pips for every trade (at initial stage). Just keep it simple. Let say average E/U range is about 120pips/day, so you just need 25% of daily range! Come on! It is achievable, dude! The idea is, DO NOT RUSH AND WAIT FOR CONFIRMATION. So you have ample time to think about your possible trade and more importantly, you may select which one you want to trade if you have an option. JUST WAIT AND SHOOT LIKE A SNIPER! Any trade against you, get out fast and wait another signals. I think, the major problem with majority of us is we always need to trade without make serious research and thinking.

Secondly, if you look thoroughly, when your capital keep growing, your ratio of capital against amount of trade (lot) also increasing. That's money management! You reduce the risk when your capital become vast.

I know there are so many method/strategy out there but the reason I share this plan with you is to show all of us that do not too frustrated if we miss the big move, cause frustrated always become more severe consequences to me i.e bye bye my account. We must act accordingly to our plan. Off course from time to time we need to revise our plan accordingly because the actual not always same like what we plan. But no matter what market did, just stick to the target. At least when your objective is achieved, some reduction to the amount of trade suppose to be done.
REMEMBER! THIS IS YOUR LONG TERM PLAN. YOUR INVESTMENT PLAN. You can trade another account with another plan.

But again, the choice is yours.

Thanks and Best Regards.
 
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Aldo Colombo

Corporal
Messages
107
Hi Aldo,
Thanks for comment. Actually it is a plan. As usual, a plan is a guideline to follow. At least you have some target to achieve every month. I still confident this plan will success and it is my wish...
I understand, your plan implies taking an initially high risk and then lower it gradually. If it leads to regular gains, great!, I don´t reach that point yet.
 

rashidin5178

Sergeant
Messages
244
I understand, your plan implies taking an initially high risk and then lower it gradually. If it leads to regular gains, great!, I don´t reach that point yet.
Yes, but I aware of it. That's why I just put the target 30pips/trade for 10 trades/month. You can make it 5 trades/month with the same target. The only disadvantage is you longer your plan. But that's not a bad idea anyway. The point is,we should have our long term plan that seem workable. Be dicipline and focus to it.

Thanks and Best Regards.
 
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