Strategies, Systems & Indicators

[Raghavacc]

I don't think you need to attend any training dude..........

You already are good in all the understanding and clarity required to trade... now just the transition phase is to be conquered..
the phase were we go bicycling for the first time on road.. or drive alone the first time.. after the all the practice....
some of us take few days to overcome the fear and over cautiousness.. some take few weeks and others take few months.. but we all are persistent in not leaving driving... finally a day comes when we can drive with our mobile phones on and also noting down a number or address in bangalore traffic...

that's the point we want to reach in trading too... with absolute cool and calmness... so go ahead and live your dreams ...

I am gratefull to your words of encouragement Edward.

Driving in Bangalore Trafiic and Succeeding in trading ,both takes lot of pain for sure.

If we are reaping any benifit out of Lazyboy, its all because of your sacrifice ,time and energy .There is one saying " The hand that gives is always greater than the hand that receives".We are just receivers.


Lazyboy - Yesterday just one trade fetched more than 150 pips.The lazyboy kicks you to enormous profit and richness on a trending day.:clap:

Regards
Raghav

 

[Edward]

Hi kaps,
Glad to hear you are going live by this week...
A few things to look out for while going live for the first time:

1. Remember what worked in Demo... still works in Live... there is absolutely nothing different here... except your 'Emotions'....
2. Remember... either the market can go up or down.... any which way.. the nature has bestowed upon you a 50-50 chance already... You have been dealt very fairly.... nature has not shown any favoritism... now with a good system and emotional discipline even if you make it 60-40 in favour.. you are a successful trader in the long term...
3. Trading for that matter is a '1 year crop'.... no it's not something that kick starts your celebrity life style from day one... so have a one year outlook at the least....
4. Dont invest the money that is very important for you and you might need it in a week or two... and never ever borrow the money to trade.. that's what gamblers do... this will decide your 'Sensitivity to your emotions'.
5. Dont risk more than 5% of your equity balance... i.e for me, i only have 5% of my balance as open trades....
6. Remember you have been there and you have done that... and trust yourself you will do it again...
7. Demo trading is like net practice.... probably there are many cricketers who can hit hard and far compared to Sachin in domestic crickets... and net practice sessions.. but when it comes to keeping ones nerves under control... and perform under pressure with calmness.... Sachin is the man.. same is with trading...
8. if you have 80% hit rate in your demo trading... you should have the same... but you never kknow when the 20% will come.. in the beginning or in the end.... it's like 6 runs needed.... four in the first ball eases the tension... but 2 dot balls makes you go crazy... This can be overcome by thinking 'LONG TERM only... few trades here and there don't make any difference...
9. You will go through a learning curve again in live trading... so keep a notepad and write down... writing down your mistakes and wins will make it register in your brain...
10. Dont forget money management and emotional discipline.. trust me... you don't even need a system to succeed if you do the above things...

And remember.. just because we fell from our bike in our first ride on the road or we banged our car and got an ugly scratch... did not deter us from shunning driving... similarly a few drawdowns are just fine... go ahead and do it bro...

all our best wishes to you...

Well, I too critized Edward at one time But my criticism was healthy what I believe and not personnel in anyway.
If you don't like anything.. right your view point in a effective and prudent manner.
let's Move ON..
I have also opened Forex a/c with OANDA and will be live next week. Deposit Money with Cheque takes time.. Good thing you can have 1 pip as 0.10 cents to start with.

I owe to edward as he has given me confidence to start learning about forex.
Do I use his system and totally depend on it.. It's individual choice.. I will use his system + woodies and will paste the results here next week.

I hope Edward don't mind it..posting EDWARD + WOODIES in same window.. Woodies is late as compared to Edward for sure as I tested in DEMO.. But I take it as confirmation.

Allright guys.. Thanks for useful suggestions in this thread!
Babypips is the best website--> check school link .. best one so far I found..

toodles...
Kaps

 

[Edward]

I hope Edward don't mind it..posting EDWARD + WOODIES in same window.. Woodies is late as compared to Edward for sure as I tested in DEMO.. But I take it as confirmation.

Dear kaps,

forget about woodies, I dont even mind putting Edward and baba662 in the same window...
:lol:

so chill dude.. and use whatever gives you that confidence.... it's profit that we are bothered about... so go for the kill

 

[Raghavacc]

11 AM to 5PM- As per Edward bro's advice its to time to hunt pips in Eur-Jpy

Rally, then a consolidation at top and then break of range upside would indicate
further rally.Its M15 chart. Just see within no time it fetched 50 Pips!!. I traded 0.50 lots.

Perfect entry as per rules.

Regards
Raghav

 

[sanjoy_roy]

Eddie and all,

With the limited time I had since the last 3 days I was able to take just 3 trades working on 4H and all ended in positive. I broke 1 rule though. did not set up SL in any of the trades. need to work on that.

EURJPY - bot 0.2 @ 107.81 (13th sep 17:28) TP @ 108.01 (14th sep 20:13) . profit 20 pips.

GBPJPY - sold 0.2 @ 129.24 (13th sep 20:12) TP @ 129.04 (13th sep 20:53) . profit 20 pips.

EURJPY - bot 0.2 @ 108.28 (15th sep 06:32) TP @ 108.48 (15th sep 06:33) . profit 20 pips.

not rushing into taking trades. just taking baby steps again. I know I will reach my destination. Just need to be more disciplined.

Thanks,
Sanjoy

P.S.: With Lazyboy I now have the confidence to sell short. earlier I was very jittery.

 

[sanjoy_roy]

Eddie,

As discussed yesterday, I focused on EURJPY today for the time slot 11am to 3pm. When got up at 11am, did not see a trade opportunity at 4H, so went down to 30M and found a buying opportunity.

put a buy stop at candle high + 3pips + approx. 2pips spread. adx was above red line.

EURJPY - bot 0.2 @ 110.94 (16th sep 11:39) exit with trailing SL @ 111.28 (16th sep 12:34). profit 34 pips.

so now I have 4 out 4.

Pips target for the week = 50
Pips earned for the week = 94

Pips target for the month = 200
Pips earned for the month = 94

Lets hope I am prudent enough to take correct decisions.

Thanks,
Sanjoy

 

[Edward]

That's great... keep up the good work...

In the evening show timing of 6 to 9 try to trade all the three pairs that I mentioned to you.

 

[sanjoy_roy]

That's great... keep up the good work...

In the evening show timing of 6 to 9 try to trade all the three pairs that I mentioned to you.

Sure, will be on the lookout.

Thanks,
Sanjoy

 

[maidass]

Dear All,
As a token of Appreciation to Traderji for helping us all get networked, we are happy to OFFER 15% DISCOUNT IN THE TRAINING FEES TO ALL THE TRADERJI MEMBERS.
Dear Moderators, please note that I'm nt trying to market our event on this forum. I'm just trying to offer my gratitude. If you still feel that I'm trespassing my limits, i will remove this post.
If any Traderji member wants any help either to travel to Bangalore or to stay during this event, we are more than eager to help.
LET US MAKE FOREX TRADING A PROFITABLE VENTURE FOR ALL.
I personally welcome the 5 Traderji members, who have confirmed their participation in this event.


It is not important what you do,
Till the time you know the
importance of doing it

 

[Edward]

Morning Guys

How did the week end guys?

Hope you were in the middle of profits and a lot of pips...

take care guys, will post few interesting things once i am back to office from Surat.