Trade Like a Dealer: (And Avoid Death by a Thousand Stops)

[jasperforex]

For anyone interested the system is now on ebay again

[garyh]

Jasper: Can you send a link or the name that we can search for on ebay?

[fxscalper90]

Originally Posted by Beachie41

"A trader stares intently at the three-minute chart of the E-mini S&P contract on his computer and sees that prices are plummeting through the 20 period moving average. Instantly he sells several lots, anticipating a sharp move down. But suddenly, price action pauses, stabilizes and then quickly turns around, running back up beyond his entry point. He gets stopped out for a loss. Unfazed, he focuses on his screen once more and now sees that price has pierced the 20 EMA to the upside. His momentum indicators have turned bullish, and now he buys. At first, price follows his direction, turning his floating profit-and-loss statement green – but well short of his target price. The price hesitates again, halts for one more bar and then plunges below his entry and right into his second stop loss of the day. Dazed, he watches silently as it rallies once more and now takes out the daily high without him........"

http://www.sfomag.com/homefeaturedet...ry&YearID=2005

I think there are many people who simply cannot avoid death, period.

It's market law.

fx

[firedave]

Originally Posted by garyh

Jasper: Can you send a link or the name that we can search for on ebay?

Hope this help http://cgi.ebay.com/ws/eBayISAPI.dll...532082877&rd=1 but it's only for temporary. The link will be expired in 7 days

[jasperforex]

Worked like a dream on the canadian dollar today. I'll post if it ever stops working, but I doubt it cos I've had it for a year now and it just keeps churning the profits out

[garyh]

Originally Posted by jasperforex

Worked like a dream on the canadian dollar today. I'll post if it ever stops working, but I doubt it cos I've had it for a year now and it just keeps churning the profits out

Jasper, does the system use standard indicators, or some proprietary ones? I do something similar looking at the daily and 4HR charts. I got some nice moves in canadian too, picked up 472 pips shorting it since friday. Went long today, but stopped out. Definitely would be looking long for next 2-3 days.

I look for an the previous day(s) being down days, and the Schaff Trend Indicator and Macd being low, and possibly some divergence on the Pct R for the 4Hr chart. Opposite for short. I set a bailout stop and add to positions on retrace or if it goes slightly against me and indicators still look good. I like to look at 8 pairs (4 majors, USDCAD, AUDUSD, GBPJPY & EURJPY). Caught some really nice swings last week and this week, over 2000+ net pips on the 8 pairs. Have to shut down early because I'm headed on vacation, otherwise I'd still be working some nice moves. I've tried to automate some of this, but my eyeballs and brain just does a better job at deciphering it. (shucks!)

Gary

[jasperforex]

The indicators are standard but it's the application that jewel of the system. The actual trades and handling of the position. That's what makes it way better than the other stuff I've bought.

[Tekunda]

GaryH please translate: .....Pct R for the 4Hr chart That is too cryptic for me.