The System III (Oh no!) - MT4/MT5 Resources
Well…those who know me know (isn’t this redundant?) that I hate bullshit. I do what I want to do and I really don't care if you win or lose...not my problem. My basic rules are pretty much all established in Systems I and II, so go back and read...or check out my defunct Loser's Diary, which has some aspects of my personality in it.
Just to add, I'm not here to babysit or win a popularity contest. You're not here to create a cult of followers...you're here, put your issues on the table and please leave the bullshit behind, I don't have the patience or time to deal with it.
Okay (grabs throat) Now that we're on the same page... let the show begin.
I just gave up on flipping. Yes, my focus on numbers over the years has definitely taken a toll on me. Still cold turkey, but improved.
I'm going to trade..(oh yes baby!) support and resistance...but let's clear something up...
All the gurus and their mothers shouting like a bunch of drunken sailors that you "should" draw correct S/R lines... bullshit. I said...that's not going to make me any money.
You simply look for turning points in the past. There's something called "zooming" in your diagram, and I bet if you zoomed in on the diagram you'd see what I'm talking about.
Don't wait for the market to "test" these turning points or you will often miss the bus. Just stand up, shut up, and trade…it’s that simple…. No need to think too hard about what the market will do next…
I chose the 30 minute chart because I feel comfortable with it. You choose whatever you want. Keep in mind that on shorter time frames you will get more noise...it's up to you.
I'll stop here, the rest of the class will be illustrated in diagrams in the next article.
stay tuned! !
PD: Please...I beg...I beg...don't ask me for statistics...if you're interested in this, please be my guest...it might be a good way to stay focused while masturbating!
Update 03-10-2010
I don't want to be rude or anything, but this isn't a newbie topic. I can't teach people how to trade (the basics). I'm just here to express my opinion on the deal. If you're going to trade, don't ask me if now is the right time or anything...just go ahead. Use the reasoning I've laid out in this thread and make your own decision. I don't teach newbies. There's nothing wrong with that, but there's a ton of information out there about the basics of trading. I can't advise anyone on how, when, or where to trade... Trading is an individualistic thing, so I don't subscribe to "fixed systems"
Just load up some charts, set stops/limits etc. for your trades, then briefly explain to us the logic behind your trades...do the work...if you do this then I'd like to lend a hand.
Another thing that really bothered me for a while was the ranting...trust me
Stop this "I trade GPB/JPY because it has more pips etc bullshit... you trade out of comfort... or maybe the time zone, depending on where you live... and risk tolerance. It doesn't matter that G/U has more "juice" than E/U etc. You still need to adjust your loads based on your predetermined risk. So if G/U has a larger daily range than E/U Wider and you'll still take risks. Stop chasing crazy dreams... stick to a couple and become a stickler for a time frame and become a master of it... It's time to dismantle the stereotypes of this industry and start making money consistently.
Updated March 13, 2010
I recommend you look up my older posts on Systems I and II so you can see how I view trend trading, multiple time frames, etc.
Just to add, I'm not here to babysit or win a popularity contest. You're not here to create a cult of followers...you're here, put your issues on the table and please leave the bullshit behind, I don't have the patience or time to deal with it.
Okay (grabs throat) Now that we're on the same page... let the show begin.
I just gave up on flipping. Yes, my focus on numbers over the years has definitely taken a toll on me. Still cold turkey, but improved.
I'm going to trade..(oh yes baby!) support and resistance...but let's clear something up...
All the gurus and their mothers shouting like a bunch of drunken sailors that you "should" draw correct S/R lines... bullshit. I said...that's not going to make me any money.
You simply look for turning points in the past. There's something called "zooming" in your diagram, and I bet if you zoomed in on the diagram you'd see what I'm talking about.
Don't wait for the market to "test" these turning points or you will often miss the bus. Just stand up, shut up, and trade…it’s that simple…. No need to think too hard about what the market will do next…
I chose the 30 minute chart because I feel comfortable with it. You choose whatever you want. Keep in mind that on shorter time frames you will get more noise...it's up to you.
I'll stop here, the rest of the class will be illustrated in diagrams in the next article.
stay tuned! !
PD: Please...I beg...I beg...don't ask me for statistics...if you're interested in this, please be my guest...it might be a good way to stay focused while masturbating!
Update 03-10-2010
I don't want to be rude or anything, but this isn't a newbie topic. I can't teach people how to trade (the basics). I'm just here to express my opinion on the deal. If you're going to trade, don't ask me if now is the right time or anything...just go ahead. Use the reasoning I've laid out in this thread and make your own decision. I don't teach newbies. There's nothing wrong with that, but there's a ton of information out there about the basics of trading. I can't advise anyone on how, when, or where to trade... Trading is an individualistic thing, so I don't subscribe to "fixed systems"
Just load up some charts, set stops/limits etc. for your trades, then briefly explain to us the logic behind your trades...do the work...if you do this then I'd like to lend a hand.
Another thing that really bothered me for a while was the ranting...trust me
Stop this "I trade GPB/JPY because it has more pips etc bullshit... you trade out of comfort... or maybe the time zone, depending on where you live... and risk tolerance. It doesn't matter that G/U has more "juice" than E/U etc. You still need to adjust your loads based on your predetermined risk. So if G/U has a larger daily range than E/U Wider and you'll still take risks. Stop chasing crazy dreams... stick to a couple and become a stickler for a time frame and become a master of it... It's time to dismantle the stereotypes of this industry and start making money consistently.
Updated March 13, 2010
I recommend you look up my older posts on Systems I and II so you can see how I view trend trading, multiple time frames, etc.
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