There are a lot of types of trader, but maybe all of them can make money, find what ways you're more comfortable with.

for me i'm a trend trader, i never trader NEWS

i keep the position as long as the trend tells me not exit

got a lot of ways to do it, trailing stops is not easy to use, too small, then get whipped, too big then cant hit also......

nowadays GU, UJ and CHF is very hard to trade.....very volatile

I got a small acc using MIG, i dunno why the value is different than my other broker's data (Admiral Markets)

i suspect they got push you to a higher spread when opening and closing position that time, lets say you close with a profit of 20pips, when it closes it becomes 18.90pips, it'll try to decrease your profit.

maybe it's a steady and firm broker, but not a fair one

From now onwards, every morning i'll post up H4 analysis of the EU GU and AU

see whether you guys see what i see or not


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not stress trading elliot wave ?

i've seen those trading FX, CPO unkers, those more than 5years of experience, all their hair turn grey due to the stress and lotsa thinking.

my white hair also coming out d, therefore i just want to stick with what i can see and KISS (keep it stupid and simple)

in the end, they tell you to go trend trading coz all the analysis and question marks(i always see questions marks on elliot wave charts coz they need to label the waves) will wear you down.

does it look something like this ?
i've checked the flyingspaghettimonster forum claiming it can do 1000pips per week, actually, it doesnt work that simple if you trade so many pairs

if you wanna trade 5pairs cross pair with EU, why not just shot/EU with bigger lot size ?
just trade on 1 cross pair will be enough, why bother to monitor 5pairs at 1 time ?

even if this works, you know that each pair has got its own characteristics such as volatility and pip range, in the long run, i'm not sure whether it will be profitable.

the thing with forex is it is constantly changing, the more complex it is, the easier it will fail



This post has been edited by AllnGap: Dec 11 2010, 08:16 AM


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okay got it, as long as you're profitable from it can d

the most important thing that nobody will ever tell you is that

1. lower TF is the most shittiest place to trade because there are a lot of fake price which leads to fake signals.
2. lower TF is for the advanced traders who are used to the harsh environment
3. there are big players and small players therefore a lot of manipulation will happen => fake signal => losses
4. when to go in and when not to go in for your system you're using
5. indicator behavior under different circumstances
6. simplicity and not complexity
7. finding the sweetest spot to go in

after so much of R & D for 2months, final conclusion, i've gone back to the basics, which is trend trading and trendline trading, HAHA !!!!!
dumped everything into rubbish bin !!!

all the methods to confirm the direction or change of direction

i was searching for reliability and simplicity

MACD, BB bouncing system, STOCHASTIC, CCI, EMA, SMA, Elliot Wave, Candlestick pattern, RSI, ADX, Momentum, Bull Bear, Volume (VSA biggest joke)

gone through more than 1000 indicators 

to the final conclusion, which one more reliable ? is only trendline

price either stands on it or break it, even it is a fakey, you can wait till the next real one.

This post has been edited by AllnGap: Jan 3 2011, 02:41 PM

yea of course, i prefer simplicity, humans think that by using more and more they can defeat the market dynamics (compilation of so many types of traders and big players especially)

but i notice something is that no matter what kind of trader you are, once the price break a significant trendline, everybody sees the same thing, it's not like you're the sohai that sees it only and go against the tsunami.

of all the most reliable or accurate methods, i've tried to come out with a method to be in profit everday (intraday trader), but it seemed that it is impossible to filter whether to take the trade or not according to your system, it's really super hard because the market is always in a dynamic condition, sometimes trending, sometimes sideway, range bound

the market condition is constantly changing, thats why we see certain system or EA die after the conditions change. but no matter what conditions, price behave always behave nicely to trendline, especially higher TF (like H1 and H4)

and even better is that i found the method to lower the SL down to about 20pips, with R:R always bigger than 1

first of all VSA can never be applied in the forex market because you never know the size of the contract itself per tick and broker's data is different(retail), only higher tier transaction data can be used, so the basic data information is already flawed
even so as i said again, it cannot tell you roughly it can go how much further.
if you wanna use VSA, better bribe someone working in the big banks' trading room to feed you info sure win if you know what they gonna do next



let me put it like this, IMHO,

this market is super manipulative due to the nature of the players which are big banks. These big banks have got so much money they can move the market whichever direction that they want, i've back tested the fakey(whether you call it as pullback/retest, or banks getting better price ?) for intraday is about 30 to 50pips range (4H will be about 80pips), so this amount will be the amount of SL you have to put, without a good R & R, no system can win because your odds wouldnt be by ur side.


let me rephrase this, indicators can give you a good entry, but without a good strategy, you cannot win.

have you noticed that everytime you make the trade, the move goes opposite you ? this is because of the knowledge that we know kills us. We wanted more and more confirmation, lets say engulfing candle before entry, once we go in, the price pullback.
I personally believe that trendline and SR is the most reliable tools you can use

stochastic for a trending condition will always go at the extreme, lets say LONG, it will remain at the Overbought level....
what the book said ? the book ask you to short because it is at OB level

i'm talking about reliability of indicator + a good strategy

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Added on January 4, 2011, 8:43 am

you see how simple it is, no more confusion, just wait, kasi dia pecah

This post has been edited by AllnGap: Jan 4 2011, 08:43 AM

i simply like simplicity lo.....
till the end of the day, everything is about warfare, traps are set by the sharks to trap planktons like us

what i know is that the reliability of the system is the most important thing of all, lets say for turtle traders, if they are unable to filter sideway market false signal, then they'll lose money, i wanna be a no brainer, no need to think so much before trading, just let the system tell me where to trade and when to trade and which direction to trade

ps, my chart not that messy, just to show you how many trading possibilities within 2days

i've made the trendline indicator that gives alert, and change the alert wav files to Sam Hui's Choi San Dou.......damn syok....i go do other things and wait for the Money song to play

false breakout occurs usually during market opening hours, so wait wait and wait....best if avoid the first move during opening hours, and becareful if it goes into a triangle....

anyway, if you're fast you can even grab some pips

just look at AU today, i placed the trade yesterday, risk = 25pips, reward = 100pips

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Added on January 4, 2011, 3:45 pmEU/CHF just had a 55pips move


NZD, same case.



This post has been edited by AllnGap: Jan 4 2011, 03:45 PM

u see a lot of signal because a lot of them are switching direction at H4 atm, AU, CHF, NZD switching atm.

GU havent break south yet.....so wait wait......too bored, just spend 5minutes on each chart and then wait for the next signal to come.....

i just wanna hit my monthly pips of 300pips can d, i believe this system if you're diligent, can get more than 200pips per week easily.

And the most important thing is that it is simple, no need so many indicators, my last template had about 14 indicators, and i made the checklist, it's about 7 signal confirmation, after 2weeks trading on it, i only get confusion and loss

i even have customized my M5 fractals to look like M15 fractals but still the efficiency not good la


sorry, i trade on my 27" LCD, so the resolution is bigger, will resize next time

kk, will resize, this NZD, when USD got movement, sometimes correlate with AU, then it'll move....now u know la USD so weak

for me , 1H TL is quite ok on M15 TF, 4H break is reliable enough (even fakey can get at least 30pips), just that you must couple this with trend trading, then it becomes a good system. Of course dont countertrend it.

maybe your pip range is super big at 800pips i guess ?? (EU last year got about 4 to 5 times 800pips movement)
i got turtle on another account, but only got 200pips on UJ last time......takes a lot of patience for a trade

like the example i attach on EU chart, 4H is quite ok, but it's the big banks that can manipulate the price, brokers can manipulate about 10pips, big banks can push it down even 150pips, so even with trendline breakout, the move is not as fast and not that smooth, it might break, then retest for 3times before the real move happens,

so if not used to this kind of movement, better dunt trade, or use multiple lot

this kind of pattern can also be seen on daily chart, weekly chart i never seen any lah


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later got FOMC meeting, i wont touch FX till tomorrow....might be crazy today

damn, i exited my AU too early, should have set the TP to parity level......

in the meanwhile, i'm waiting for the next swing....kinda boring man