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Thread: No free lunch but all the free coffee you can drink

  1. #61
    Quote Originally Posted by borlam69
    I find BWR be at me to it but that is Oklahoma. 2 mo Re to go if you don't say NO.
    Got mine, whether he states no or maybe not.

    I Would like to hear more additionally, do deffo commence a train of thought in case you have time.

    I never had the privilege of being in the pit, any pit for for example.
    Closest I got was phone orders to the pit.[img]https://cdn-resources.forexintuitive.net/images/emojis/64/1f601.png?v=1.0.0.0”
    I was also heading to remark on the DM reference above, but borlam69 be at me to it. Curse, DM, old-school! not sayin' you're outdated or anyting! I had been an appropriate child when that was around

  2. #62
    Hello Peter:

    I only understood which you reside in the states. Believed you were centered in Britain for some cause. You need to have a few trading periods that are extremely late! I am on the east-coast, attempted getting up at 3 am. to trade the UK session, but my physique simply would not work

    Thanks for the clarification on that which you use as day's open. I've been utilizing 7:00 pm EST as beginning of day. Woke up today and had a sell sign on European Union right away (6:00 am EST), except the price was above my definition of day's open, and I ignore it. Had I employed your means, the sign might have been legitimate. Oh properly, another lesson learned...

    Thanks again to take your time-out to compose this type of comprehensive explanation. It really is much valued from a newcomer such as myself.

  3. #63
    Quote Originally Posted by mariajesuspt
    borlam69
    Thanks for the fine opinions. Something easy is better in the control of these who value straightforward.

    ...
    Hi Peter

    You definitely possess the ability as well as knowledge that many aspiring traders like myself would destroy for the ability to understand from (I just wish they nonetheless had open outcry pits in Australia!). I enjoy the simplicity to your own process along with your graphs really are a refreshing change to the kinds I colored lines every where and see all to usually with about half dozen indexes on FF

    I really need to state my gratitude to you with all the information that you simply have distributed to the higher FF neighborhood, and was expecting you could clarify and possibly develop on the next questions:</p>You mentioned previously that you sell on days that were down and simply buy on up times. You also stated which you search for entries of a trading day in the very first 9 hrs. How shortly to the trading day are you able to ascertain whether the day is not an external bar and an upward or down day? After you might have created whether it really is an up day or down day, could it be merely an easy instance of awaiting an interior bar to to create, subsequently setting an order to the top side (on an upward day) or disadvantage (on a down day) and watch for it to be filled? Are stops on longs put just just beneath the the reduced of the within bar and viceversa for short pants, or are you mo Re discretionary with your stops? </p>

  4. #64
    Quote Originally Posted by Save
    I actually wish to state my gratitude to you with all the information that you simply have distributed to the higher FF neighborhood, and was expecting that one could clarify and possibly develop on the next questions:</p>You mentioned previously that you sell on days that were down and simply buy on up times. You also stated which you search for entries of a trading day in the very first 9 hrs. How shortly to the trading day are you able to ascertain whether the day is not an outdoor bar and an upward or down day? After you have created whether it really is an up day or down day, could it be merely an easy instance of awaiting an interior bar to sort, subsequently setting an order to the top side (on an upward day) or disadvantage (on a down day) and watch for it to be filled? Are stops on longs put just just beneath the the reduced of the interior bar and viceversa for short pants, or are you mo Re discretionary with your stops? </p>
    -Save-

    Thanks for the queries in this rational order.

    1. You mentioned previously that you sell on days that were down and simply buy on up times. You also stated which you search for entries of a trading day in the very first 9 hrs. How shortly to the trading day are you able to ascertain whether the day is an upward or down day and never an outdoor tavern?

    I find where the issue is. As traders we haven't any idea if your day will probably be a day or an up day. (Really, that is certainly not completely right, but for the reasons of this process it's.)

    In The Event you realize exactly what the opening price of the day (and also the closing price of yesterday) is, you know a-T any time when the price is up or down vs. yesterday's near .

    RULE:
    For the Everyday I-bar Set Up or DIBS Process--- simply take an up side breakout of an hourly within tavern if the breakout price is higher than the day's open and disadvantage breakouts of an hourly within pub only if the breakout price is lower than the day's open.

    And as mentioned numerous times before, the consequent trades have a greater possibility whenever they occur in the first 6 - 9 hrs of the day.

    2. ..., could it be merely an easy instance of awaiting an interior bar to to create, subsequently setting an order to the top side (on an upward day) or disadvantage (on a down day) and watch for it to be stuffed?

    With deference to my first solution, yes.

    3. Are stops on longs put just just beneath the the reduced of the within bar and viceversa for short pants, or are you mo Re discretionary together with your stops?

    Yes. There's no should be discretionary with all the stops.

    Where every trader has a tendency to get discretionary is with how they manage the profits. That is certainly among the attractiveness of the DIBS process. The trades occur frequently enough the chances exist for comparable trades are taken by you again and again. If your trader gets comfy using a t-AKE- a trailing mechanism that is adequate plus profit notion, unbelievable things can occur on account of the operation of time enhancing the worthiness of the trades that are surviving.

    It operates on numerous time-frames. I would never utilize it for less than ONE hour bar S, but it is used by some on 30 or 15-minute time frames. It'd demand your having a company where trading spreads are extremely little.

    About the short trade exhibited yesterday inputting the Euro/USD which I converted into in to a free trade. I waited and I was ceased by it outside. That's the effect of a number of these trades, but undoubtedly not all.

    In Case you enter these trades in the course of an extended term trend, and path several of them, the place you can amass over a number of weeks and months can be great. Thus would be the profits

    --

  5. #65
    Peter,

    Thanks for all of your places, they're wonderful information

    How several pairs would you see?

    Possess a fantastic week

    Mike

  6. #66
    Quote Originally Posted by Angelrebelde
    Peter,

    Thanks for the posts, they're wonderful information

    How several pairs would you see?

    Possess an excellent week

    Mike
    Concur. [</br9>https://forexintuitive.com/attachments/forex1496026300.png[/img]

    Peter,

    A query I Have been wondering about viewing open trades.

    In a number of long trades for instance, would you trail your stops a-T each new IB set up?

    Internet Explorer You Are in a lengthy trade centered on an IB, with your stop now only below that IB. You get still another I.B. later on in the sam e path and established up for an added trade. .... Do your stop subsequently transfer to the stop amount that is new from your last location?

    Does this trailing additionally define your profits?
    Do you actually near a trade for just about any other reason? i.e. End-of-Day.

    My knowing is you maintain forever, allowing the market shut you out normally on your own shapely trades ....OR if you begin getting setups in the reverse way, closing out all preceding places from the old guidance.

    Thanks again for your own posts. [</br9>https://forexintuitive.com/attachments/forex1496026302.png[/img]

    There are several of us here that trade centered mostly on price bar set-UPS. This procedure you describe is potent and easy. Adore it. [</br9>https://forexintuitive.com/attachments/forex1496026303.png[/img]

    .

  7. #67
    Nicely, this thread actually should deserve a lot more attention than it's now. Once the moves have occurred, a person who truly has helpful info to share sharing quite valuable advice, in place of merely theorizing on graphs. I truly thank you Peter, and borlam69 for beginning this thread that insipired Peter to truly lead.

    Just to summarise, and so I got this right in my own head, this really is the method as I I am aware it:

    1. Look at yesterday's near, Day being described as 0100 GMT (EDIT: SHOULD BE 0600GMT).
    2. If current price is above that near (ie the hourly bar has shut above), we're searching for longs simply, and vice-versa. If during the course of the trading day, the price moves under the near of yesterday, then we change to looking for only short pants.
    3. Wait for a within put order a-T high, and then to sort /low of bar that is inside, with sl being the other side of the bar.
    4. 1:1 is really achievable, although earnings is discretional

    Now to the queries:

    1. What do we do on mondays, when price can open as much, about differences, egas 50-60 pips gap, therefore price might be under yesterday's close, but because of the difference being filled is over now's open price

    2. If we get sequential interior bars, as there were on your last chart, do we keep transferring the orders to the interior tavern that is latest? As there would be a wedge this could generally signal a trade that is great anyhow.

    Next, queries unrelated to the Everyday I-bar process. You've said that this strategy is really seldom traded by you below 1H. I'm supposing which you have a few other processes on your own tote that may be traded below 1H. What I've wondered is the ppl who'll ease orders that are large, ie supply the momentum in almost any way that is special, do they seem at putting orders based in time, or on price? 15M candle breaking/or near beyond a particular price, eg? Or is the hourly chart the most dependable one to use, for momentum? Since what we be a part of this momentum and actually are searching for momentum. I've frequently heard many honored traders here on FF say they don't trade something less than 1H. Afterward I've observed quite a few that appear to be doing fairly well trading less than that.

    What I'm actually getting at is this, my theory is the fact that we're little fish, and also to earn money in forex, we should be on the exact same side as the bigger players when they begin to drive/transfer price? Now what are these bigger players seeking at? Not necessarily indexes, but the time frame?

    Expect I've made myself apparent, and actually looking forward to your own answer.

    Sees,
    K.

  8. #68
    Quote Originally Posted by mariajesuspt
    Visualize the general achievement rate of someone choosing the reverse aspect of these breakout trades and only departing when we way out. They just could seem ahead to possible profits that are quite small and would be trading with infinite potential risk.



    - mariajesuspt -
    It's constantly enlightening to contemplate the different side of the trade. This really is the perfect example of what may be realized from do-ing that from a straight more comprehensive outlook. Outstanding example of the requirement to depart fast when it goes against you, and of holding a bit for as significantly as it of the benefit will go.

    Once again, Thank You Peter

  9. #69
    Quote Originally Posted by Angelrebelde
    Peter,

    Thanks for your entire posts, they can be wonderful information

    How several pairs would you see?

    Possess a fantastic week

    Mike
    -Angelrebelde-

    I nevertheless view the 4 majors (USD/JPY, USD/CHF, EUR/USD, GBP/USD), and occasionally the British Pound/Jpy.

    I have a tendency to concentrate on those in the top trends and then, cheapest prices of trading- in that order. I'll move up in time frame to 3 or 4 hour graphs to compensate if your market h AS a better trend but worse prices. The trend is who pays you.

    --

  10. #70
    1 Attachment(s)
    Quote Originally Posted by GONZA
    Peter,

    A query I Have been questioning about affecting open trades.

    In a run of long trades for instance, would you trail your stops a T each new IB arrangement?

    Internet Explorer You Are in a very long trade depending on an IB, along with your stop now only below that IB. You get still another I.B. later on in the sam e course and established up for an added trade. .... Do your stop subsequently transfer to the stop amount that is new in the prior location?

    Does this trailing additionally define your profits?
    Do you actually near a trade for absolutely any other reason? i.e. End-of-Day.

    My knowing is you maintain forever, allowing the market near you out obviously on your own shapely trades ....OR if you begin getting set-UPS in the reverse way, closing out all preceding places from the old path.

    -GONZA-

    Thanks for the opinions.

    you're fundamentally quite right about my being prepared to hold forever. Of how I finally profit from my type of trading, my comprehension demands it. This really is really all section of the very significant section of study I know of for a successful trader- Utility Theory.

    Utility Theory

    Folks normally are unacquainted with the total amount of time involved with an extended secular trend, and normally are reluctant to hold winning places long enough to profit to the level possible. (It is a great thing for professional traders--)

    it'd consider also lengthy here to do a great job of describing it. A pal who traded in the pits with me gave permission to me to to install the PDF of this article within FF and composed an article in Dealer's Globe on the matter. It truly is titled: Trading for Endless Output: You and Utility Principle.

    That's what makes the markets therefore difficult, enticing, and yes--- s O lucrative. Because of the individuals of the learning curve. Their profits are wanted by a lot of folks coming to forex daily or hourly. They are mistaking trading to get employment.

    Trading is a company where it actually is worth it to spend interest and study in the market each day. You'll learn only that little more compared to other individuals who believe they can simply enter some numbers in a pc. (I'm now considering of a few of the feeble forex methods I Have observed being sold: forex robot trader, forex killer, etc.)

    Your concerns-

    </p>A T each new IB arrangement, would you trail your stops in a number of long trades for instance? Internet Explorer You Are in a very long trade depending on an IB, along with your stop now only below that IB. You get still another I.B. later on in the sam e course and established up for an added trade. .... Do your stop subsequently transfer to the stop amount that is new in the prior location? Does this trailing additionally define your profits? Would you ever near a trade for absolutely any other motive? i.e. End-of-Day. </p>

    Great questions

    1. Each trade is managed individually. If it turns right into a free trade by dropping half @ 1:1, I off allow each trade journey or get quit out by the present stop--OR THE TRAILING MECHANISM I'M USING FOR THAT MARKETPLACE, STRIKE FIRST! GETS WHICHEVER Be quit outside, or the trade needs to stand by itself
    2. Yes, my trailing stops finally define my profits.
    3. Occasionally, although not quite regularly.... I occasionally lighten up locations after I go on holiday, which does not occur frequently enough.

    the one thing you should be pondering of, in case you are thinking about doing something similar to this-- is locate some solid way for trailing your longer duration locations, which you can live with for a lengthy time! Some use moving-averages, some turtle-kind stops, the others use stops that are trend line on weekly and daily charts.

    The crucial is you. You finally determine everything about your trading encounter.

    The manner in which you believe is what defines how prosperous you may be. You have to let you are paid by the market. You must not restrict what it'll give you.

    --
    [</br8>https://forexintuitive.com/attachments/forex1496026335.pdf[/URL]

  11. #71
    Quote Originally Posted by mariajesuspt
    2. Yes, my trailing stops finally define my profits.


    The matter you should be pondering of, in case you are thinking about doing something similar to this-- is locate some solid way for trailing your longer duration standings, which you can live with for a lengthy time! Some use moving-averages, some turtle-kind stops, the others use stops that are trend line on weekly and daily charts.



    -mariajesuspt-
    borlam69 has posted an intriguing stop strategy that will prevent you in a trade to get quite a long time. It includes widening your stop as the trade goes into your favor, however simply to the stage that profits nonetheless develop.
    How about it borlam69? Care to detail it here? Looks just like a location that is good.

    anticipating to studying the PDF, Peter.

  12. #72
    2 Attachment(s)
    Quote Originally Posted by Dalariel86
    borlam69 has posted an intriguing stop strategy that will prevent you in a trade to get quite a long time. It includes widening your stop as the trade goes into your favor, however simply to the stage that profits nonetheless develop.
    How about it borlam69? Care to detail it here? Looks just like a location that is good.

    anticipating to studying the PDF, Peter.
    The PDF proved to be an excellent read, thank you Peter(and thank your buddy).

    Only an idea I 'm examining now
    you can possibly work with a volatility established trailing stop. The BAT one is used by me for my trades. The settings could alter. I'd utilize an environment that is tighter on a lesser timeframe like the 15min. In the event you're seeking to establish a duration place that is longer then only enable bigger room onto it to respire.

    Example with all the volatility established trail from now

    Either watch for a near below the trailing line, or in the event you'd like it to be tighter shift along with it
    [</br9>https://forexintuitive.com/attachments/forex1496026305.png[/img]
    [</br9>https://forexintuitive.com/attachments/forex1496026308.png[/img]

  13. #73
    Quote Originally Posted by Dalariel86
    h AS posted an intriguing stop strategy that will prevent you in a trade to get quite a long time. It includes widening your stop as the trade goes into your favor, however simply to the stage that profits nonetheless develop.
    How about it ? Care to detail it here? Looks just like a location that is good.

    excited to studying the PDF, Peter.
    You project some seeds and also don't truly understand if they drop on Productive Earth or Stone... Nice to understand that 'Some' of these seeds fell about the Rich side of points. Means to go Dalariel86. Expect it h AS been to you personally of some great.
    Did a hunt for the post you mentioned but arrived up clean.
    I recall posting it AND I Nevertheless utilize the Psychological Equal of this strategy however do not desire to confuse the concern by submitting a divergence of verbage here.

    Bill, in the event you could, would you please, post the hyperlink of that remark I made.



    AND, just in case you're wondering, I recall the jist of the Post Still use it Now.

  14. #74
    Quote Originally Posted by peliculaspelicano
    Well, this thread actually should deserve a lot more attention than it's now. Once the moves have occurred, somebody who truly has helpful info to share sharing quite valuable advice, as opposed to merely theorizing on graphs. I truly thank you Peter, and borlam69 for beginning this thread that insipired Peter to truly lead.

    (The principles itemized were right--Peter)

    Now to the concerns:

    1. What do we do about differences, eg, on mondays, when price can start just as much as 50-60 pips gap, therefore price might be under yesterday's close, but because of the gap being filled is over now's open price

    2. If we get sequential interior bars, as there were on your last chart, do we keep transferring the orders to the interior tavern that is latest? As there would be a wedge this could generally signal a trade that is great anyhow.

    Next, queries unrelated to the Everyday I-bar process. You've said that this strategy is really seldom traded by you below 1H. I'm supposing which you have a few other processes on your own tote that may be traded below 1H. What I've wondered is the ppl who'll ease orders that are large, ie supply the momentum in almost any way that is special, do they seem at putting orders based in time, or on price? 15M candle breaking/or near beyond a particular price, eg? Or is the hourly chart the most dependable one to use, for momentum? Since what we be a part of this momentum and actually are seeking momentum. I've frequently heard many honored traders here on FF say they don't trade something less than 1H. Afterward I've observed quite a few that appear to be doing fairly well trading less than that.

    What I'm actually getting at is this,My theory is the fact that we're little fish, and also we have to be on the exact same side as the bigger players when they begin to drive/transfer price to earn money in forex? Now what are these bigger players? Not necessarily indexes, but the time frame?

    Expect I've made myself clear, and actually looking forward to your own answer.

    Affects,
    K.
    -peliculaspelicano-

    Again, quite great questions. And thanks for the curiosity. It seems like there really are a quantity on FF who are not simply looking for the robot that is best. [</br9>https://forexintuitive.com/attachments/forex1496026311.png[/img]

    --What I've wondered is the ppl who'll ease large orders, ie., supply the momentum in any special way, do they seem at putting orders based on time, or on price? 15M candle breaking/or near beyond a specific price, eg? Or is the hourly chart the most dependable one to use, for momentum? Since what we be a part of this momentum and actually are searching for momentum. I've frequently heard many honored traders here on FF say they don't trade something less than 1H. Afterward I've observed quite a few that appear to be doing fairly well trading less than that.
    What I'm actually getting at is this, my theory is the fact that we're little fish, and also to earn money in forex, we should be on the exact same side as the bigger players when they begin to drive/transfer price? Now what are these bigger players? Not necessarily indexes, but the time frame?

    Without mirth, things you should complete as a trader is get aboard a transfer before everybody else does, and never get bucked off by some swings once you access it. Momentum may be translated to by that to you personally, although not to somebody else.

    There's a price to trading. Time, performance prices, funds expenses--- but largely time. Time you will be doing something mo-Re constructive possibly, such as a job in which you make cash that is positive. (That needs to do with utility also.)

    It fundamentally comes down to you having an advantage that you're conscious of this others are not. Your trades are taken by you, you are facilitated by the market, as many market participants truly don't have much of a hint, even if they've been managing for for a long period and you profit.

    In The Event you begin with a wrong assumption: presuming that trading must be like work, and you also will end up getting an erroneous decision..., and losses. There are numerous on the FF forum until they drop all of curiosity or the cash they actually ever endured in this attempt, or that will pursue their tails for ever.</p>On which they UNDERSTAND, the LARGEST cash is mostly fascinated in, and trades. Details which they confidently can trade on, news, details. They enter to day understanding what will probably be published in times or hrs from now. The 2nd largest cash trades mostly on price. They may be the banks who provide a bid and ask to little and large traders. This is and is an enormous company just like a casino that posseses an advantage on each trade. When the others enter, they enter, they're simply limited in profits by just how many folks they are able to get in their own webs. The largest amount of cash is the funds who trip the moves that are larger. They trade on time and price, breakouts of price/time-periods or moving-averages, which additionally really are a price/time result. </p>
    Not one of the attention that is above mentioned about 15 minute graphs.

    Modest traders possess the worst of it and the finest of it.

    We possess the right and skill never to trade. Until states satisfy us absolutely to trade, we are able to wait. Huge businesses don't have that luxury. We should work with price plus time intervals then trend from and that permit trading to pool in.

    Thus, hourly graphs. We are in need of worth to be on our aspect.

    These were excellent questions, -peliculaspelicano-.[</br9>https://forexintuitive.com/attachments/forex1496026313.png[/img]

    --

  15. #75
    Quote Originally Posted by Angelrebelde
    ...
    Uhh, Mike,
    How do I say this....

    It seems that a few of the FF neighborhood have taken a pursuit in this thread. Some of whom have an above-average amount of knowledge of the Marketplace.
    Instead than requesting the Direct on the thread to check or Take A Look At various notions or views, would not it be more powerful if You analyzed them yourself and answered with disagreements that you found?

    Hey Mike, Hope you realize the course I'd like this thread to consider... If you believe because that was surely not the objective, I dissed you, pM me.

  16. #76
    Quote Originally Posted by borlam69
    You project some seeds and also don't truly understand if they drop on Productive Earth or Stone... Nice to understand that 'Some' of these seeds fell to the side. Means to go Dalariel86. Expect it's been to you personally of some excellent.
    Did a hunt for the post you mentioned but arrived up clean.
    I recall posting it AND that I Still utilize the Psychological Equal of the strategy however do not desire to confuse the concern by publishing a divergence of verbage here.

    Bill, in case you could, would you please, post the hyperlink of the remark I made.



    AND, just in case you might be wondering, I recall the jist of the Post Nevertheless use it Today.
    Located it. [</br8>https://forexintuitive.com/forex-trading-and-cfds/9071-action_reaction_demo.html[/URL] See Single-Post #[</br8>https://forexintuitive.com/forex-trading-and-cfds/91053-scalping-the-eur-at-the-european-open.html[/URL]

  17. #77
    Thanks Dalariel86 , That Is The the post I had been searching for. In exactly the same Frame of Brain.

  18. #78
    Quote Originally Posted by borlam69
    Hey Mike, Hope you realize the course I'd like this thread to consider... If you believe because that was surely not the objective, I dissed you, pM me.
    Definitely do not sense dissed. I used to be only attempting to stage the others in the way of trailing stops, as this is right at the core of my breakout trading as of now and believe that it'll incorporate into this(as it's breakout trading). Consider me I was not inquiring anybody to do my study.

    Simply Take treatment

    Mike

  19. #79
    Quote Originally Posted by Angelrebelde
    ...Mike
    Great, Angelrebelde , On still another notice, are you able to see any symbiosis between this subject along with your Looking start, strata? That will be cool.

  20. #80
    1 Attachment(s) showthread.php?p=1957126#post1957126 Disliked Thanks Dalariel86 , That Is The the place I had been searching for. In the exact same Frame of Mind. Discounted Yes, borlam69 (Bill) I discovered this helpful. Your approach lept to mind, when Peter mentioned the requirement for a stop procedure on the rest of the bit of the trade.

    This week's hourly E/J was an example of a piling chance along with your stop strategy might have held us in all week.

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