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[fxsurfer]

I am going to start a new thread with my simple Elliot Wave trading system.
I am doing this so as not to clog up other threads and also as a personal diary where I can keep track of my charts, analysis and trades as I go. EW trading incorporates many other TA techniques such as trend lines, s+r levels, fib. levels, divergence etc etc. When trading EW, what I am looking for are the major waves, to trade these and to get about 50% of these moves (anywhere between 50-150 pips). As the thread progresses I will add my thoughts and the way I trade the waves so lets me begin.
PS: I am by no means an expert in EW's and am learning as I go, I have been doing this for 6 months and know that I have lots more to learn and that this thread would be a good way to continue advancing. Also my notation is not to EW standards and I hope to improve this as I go.

Entry#1 4Hr chart
End of european trading July 6.
Euro is in minute wave iv up of the larger 3 down. The previous wave iii bottom was at 1.1867 and wave iv has now corrected to 1951 but not cofirming this as the top yet a break below 1.1890 would confirm this wave iv and the start of wave v down to a target of 1.1830. Wave 4's are messy affairs at times and trade these only if you are a good scalper. Levels to watch are 1.1955 and 1.1900. In between here for scalpers only. Long above close of 1.1980 and short on close below 1.1890.
See Daily chart below and 4 hr chart in the next entry

[fxsurfer]

At it again I see, blah blah boring !

Originally Posted by hoene003

LOL
.......................
WHY don't you think NOBODY reacts on the enormous number of loosers i put
(BTW more and more i believe this is a culturething, they are all from countries ruled by dictators so they are not used that people show facts if they are not in the dictators interest, you go to prison for that.)

Hoene you forgot your medication again !


PeteUK this is the last time I respond to you, so lets put this to rest with this post:

Originally Posted by peteuk

Let's make this constructive shall we and discuss FXsurfer's trading methods and results or would that be too painful and revealing?

This thread is about charting, analysis and making intraday calls not discussing my courses, trading methods, signal service that is outside of moneytec and not at all relavant to this thread. The only people mentioning my courses and signal service is you and Hoene! (BTW: Thanks for that, I am now booked out till end of January)

Originally Posted by peteuk

Thanks for your detailed reply FXscalper but the bottom line is do the calls made by FXsurfer and Stoxx_forex make money or lose it. The answer over the past three weeks is clear, they lost money and a lot of it. Two people blew out their accounts because of poor money management and bad calls.

I have to hand it to you, you have a knack for twisting the truth ... I wonder why you deviate from the threads purpose and keep disrupting the flow of charts and analysis. Trying to sound like the best trader in the world by putting down others doesn't work anymore. But if it makes you feel better, let me say you are the BEST Trader I have ever seen Pete, your system and money management and calls are second to none, absolute precision all those calls you made. Good work Buddy ! What else, Oh yes .. I consistantly lose pips, 1000 last week or is it 3 weeks and blew 100 accounts mine and all my memebers. (ROFL - Respect is built up over time and hard work, try some one day)

The spreadsheet below is what a member of the paltalk room worked out, I dont know Sean and only met him in the paltalk room. He is not my student nor has any intention to do a course so believe his spread sheet or not its up to you. Yes Last week was a slightly negative week with all the calls, not selective ones, so what? The 2 guys you keep mentioning who blew $500 accounts, well they were warned they were underfunded and were going to blow it, if they caught a bad run and it happened, whats your point, can we stop this now.

You asked for records .... last week was the first attempt at keeping some track record and here are 2 sources ... go and scrutinise:

I updated my signal service (free) site as much as I could, so you can cross reference it with the spreadsheet, I dont have time -
http://www.fxsurfer.com/signalservice/

Note:
I will update charts tonight (Sunday) or tomorrow (Monday) for all those interested. Hopefully Hoene and Pete will do the same (eur/usd - only Guys and preferably some EW influence and stop advertising other peoples affairs on this thread). You 2 guys win so leave us losers alone

Soy un perdedor baby, so why dont you kill me? - Beck

Enjoy the rest of the weekend
Fxs

[peteuk]

Originally Posted by fxsurfer

let me say you are the BEST Trader I have ever seen Pete
Fxs

Well thanks for that but it's not really relevant, I would have preferred an answer to this post and the questions it raises, can you help me out, no?:

Originally Posted by peteuk

But seriously, let's make this constructive. You see this is the thing I'm having trouble with, the losses compared to the wins.

For example stoxx says he trades 8 lots and typical trades might go something like this (ignore the actual price, this is just for demonstration purposes) Long at 1.90, price goes up and he starts taking lots off and moving the rest to breakeven way too soon, so he takes 1 lot off at +8, another lot off at +20 and the rest gets stopped out at breakeven. On a losing trade the stop may be 30 pips.

The maths doesn't compute for being consistently profitable. Taking lots off when the trade is in the smallest of profit, and moving stop to break even way too soon where it has a very good chance of being hit, neither of those tactics work from what I have seen, they simply don't add up.

Admittedly I have only seen the past three weeks but even that has shown me enough. I wouldn't have been bothered if all his trades had been losses as we all have losing streaks, it's just the way of trading which I'm having difficulty with, it seems so 'novicy'.

That's just one example, there are many more which relate to the way both these guys trade which gives me the overall impression they are a bit lost themselves and have no place advising others. Their refusal to hold a reasonable discussion or answer questions either here or in the chat room just reinforces my belief.

[bearprofits]

Pete,

I have not been in Surf’s room to watch Surf or Stoxx make calls so this comment is not about the Paltalk room, I just want to address the concept of moving stops quickly to break even.

There are some on these forums that have developed the ability to make trades on a time/price relationship that have a very high rate of success, in that, price will turn at a specific point and time. If the move carries thru for a large move is left to be seen, but a small correction up to complete reversal is possible.

Trading in such fashion, the trader will bank small profits very quickly and move the stops to break even. The trade set up is either valid or not, there is little if any room for error. These trades are done with very tight stops 10/15 pips max. If the trade is stopped out the trader looks for the next time/price point to initiate the trade, if the trade set up is successful it is left to run, either trailing stop or to a determined time/price point in profit.

This trading style done in conjunction with analysis or patterns on larger time frames can set up some very nice longer term trades with unbelievable reward to risk ratios.

So your assumption that it seems awkward and the math doesn’t add up is correct when viewed from traditional methods. However I have seen this type of trading in action with uncanny results.

Regards,

Bear

[hoene003]

"As long as no perfectly clear rules have been defined like “put sl at b.e. everytime you have +10p”
and some subjectivity remains in these trades, accuracy will suffer and therefore results between room members will vary "

Anyway the guy did his best, the 130 pip after nfp were not there because he was stopped out and i miss one small loser. And he can't help it that the room crashes everytime.

But what does a pip represent if you take out parts when you have a few pips (our pete already mentioned it).

Example:
8 lots: take out 6 after 5 pip , assume 60 pip winner (with 2 lots) =
300 + 1200 = 1500

Example2
8 lots: price directly turns against you
8 * 30 pip = 2400 looser

Risk/reward: HORROR (and i don;t even take spread into account).

Can anyone show me a objective sheet please ? Appreciate it.

Yours sincerely hoene003

[Pipmaster]

Originally Posted by peteuk

At last something we can agree on!!

But seriously, let's make this constructive. You see this is the thing I'm having trouble with, the losses compared to the wins.

For example stoxx says he trades 8 lots and typical trades might go something like this (ignore the actual price, this is just for demonstration purposes) Long at 1.90, price goes up and he starts taking lots off and moving the rest to breakeven way too soon, so he takes 1 lot off at +8, another lot off at +20 and the rest gets stopped out at breakeven. On a losing trade the stop may be 30 pips.

The maths doesn't compute for being consistently profitable. Taking lots off when the trade is in the smallest of profit, and moving stop to break even way too soon where it has a very good chance of being hit, neither of those tactics work from what I have seen, they simply don't add up.

Admittedly I have only seen the past three weeks but even that has shown me enough. I wouldn't have been bothered if all his trades had been losses as we all have losing streaks, it's just the way of trading which I'm having difficulty with, it seems so 'novicy'.

That's just one example, there are many more which relate to the way both these guys trade which gives me the overall impression they are a bit lost themselves and have no place advising others. Their refusal to hold a reasonable discussion or answer questions either here or in the chat room just reinforces my belief.

Please note people, abusive or insulting posts that are not constructive or at least relevant will not be receiving a reply from me, I've replied to too much nonsense already.

Peteuk

Where do you get all of the time to respond to these posts so quickly? Do you have a team of people working behind the scenes? That may also explain the split personality of these posts. One is abusive and disruptive and then the next asks for a truce or to be constructive! It's difficult to follow your position, but lets assume you are on the road to recovery and want to move forward.

I think you will agree that as traders we need to get a few things right before we can expect any kind of success. Some being entering and managing winning trades, exiting and managing losing trades, position sizing, determining risk to reward, etc... My experience with the signal service has shown that surfer and stoxx are prepared to assist people with these. They recommend that you enter trades in multiples. Say 3 or 4 mini-lots for the beginner with a reasonably funded account. But as the saying goes, if you can't afford to lose it then you are better to stay out.

The signal service is simply that, they will advise when to enter and exit a trade with stops set to either protect loss or lock in profit. So far it has worked well for the sensible traders that seem to have got the above right. I am not in a position to disclose the methods used by either, simply because I have not done their course.

Now surfer and stoxx are not going to reveal their system as part of the signal service but unlike others, they are prepared to spend a month training it to people who are interested. From my understanding it is popular and anyone interested wont get a place until early next year. Also, I think there are two price structures (which should be confirmed) $2000 for most people and if you ever become curious, $5000 each for you, hoene and the gang . Sounds like a deal to me, less than 1 days work in your case for a whole month with these two!

Anyway, the markets will open soon, so that's enough for the weekend "debating"! Someone has already posted stoxx's money management details here. Look back a few weeks if you want to learn more.

Regards

Pip

[peteuk]

Originally Posted by bearprofits

Pete,

I have not been in Surf’s room to watch Surf or Stoxx make calls so this comment is not about the Paltalk room, I just want to address the concept of moving stops quickly to break even.

There are some on these forums that have developed the ability to make trades on a time/price relationship that have a very high rate of success, in that, price will turn at a specific point and time. If the move carries thru for a large move is left to be seen, but a small correction up to complete reversal is possible.

Trading in such fashion, the trader will bank small profits very quickly and move the stops to break even. The trade set up is either valid or not, there is little if any room for error. These trades are done with very tight stops 10/15 pips max. If the trade is stopped out the trader looks for the next time/price point to initiate the trade, if the trade set up is successful it is left to run, either trailing stop or to a determined time/price point in profit.

This trading style done in conjunction with analysis or patterns on larger time frames can set up some very nice longer term trades with unbelievable reward to risk ratios.

So your assumption that it seems awkward and the math doesn’t add up is correct when viewed from traditional methods. However I have seen this type of trading in action with uncanny results.

Regards,

Bear

Hi Bear

I understand what you're saying and have seen Gann techniques being traded live myself, their accuracy can be amazing when the analyst gets it right I agree.

Stoxx claims to use Gann in his analysis but the way it's being applied is very amateurish, you should log into the Paltalk room and form your own opinion if you get the time.

Aside from that the money management strategies have not been explained clearly enough bearing in mind the majority in the room are at novice level. As I'm sure you know, simply following trading calls without understanding the basics of money management and controlling risk usually results in loss even with good calls.

Thrown into the mix are attempts to scalp the market with what seems to be little more than a hope and a prayer!

I'm back to trading full time next week so my time will be limited and in any event the Paltalk room is too distracting. I think I've seen enough over the past three weeks to form an opinion of these two people and the way they trade.

Anyway, have a good week!

Cheers

[peteuk]

Originally Posted by Pipmaster

Peteuk

Where do you get all of the time to respond to these posts so quickly? Do you have a team of people working behind the scenes?

I wish! I'm wading my way through last quarters client accounts so any distraction is welcome right now!

Sounds like a deal to me, less than 1 days work in your case for a whole month with these two!

They couldn't pay me enough! The past three weeks in the chat room have been an 'experience' I wouldn't want to repeat in a hurry and that was free, having to pay money as well would be against my religion!

Anyway, I've said my piece on the subject and people will spend their money any way they see fit, as the saying goes there's one born every minute!


Have a good week doing whatever it is that you do

[Soul-Trader2004]

FXsurfer, which bit of 'please stop the complaining' didn't you understand?

I see nothing racialist in any of the posts.

Now if we are talking about complaints there's an old saying - "people in glass houses shouldnt throw stones"

What that means is that if you want to complain about someone else you should make sure you are clean yourself.

Now as i'm getting so many complaints I have to investigate fully which I have done so.

Firstly could you please explain to me why in this thread you answer yourself as pipmaster? - you both have used moneytec for a long time and both have identical IP addresses - this has not happened just the once but seventeen times. You are clearly the same person. - also dont come on as sonofsoros, Pip4x, Bici,madaboutfx, bii,daxpreader, henry-mum, scarface, shayers or any of the other identities you have and add to the thread either

having multiple identities does not mean we would ban you - but answering yourself on a thread with the intention of deceipt is reason enough on it's own.

a second reason enough is that you are taking members away from moneytec by cunning and then with the express aim of selling a signal service to them - one which I might add is producing lots of losing trades between you and your partners.

Such underhand tricks are clearly the methods of a scam as as such this thread will be closed after allowing a few hours for replies.

[Noor]

I dont want to have this first post in this nice thread as a disrespectful post.

I have read this thread too... and must say that FXsurfer is a good trader.

BUT... we have Stoxx who claims that he knows something about time analysis ... which I am here to say that he is a layer... he knows nothing about Time/Price,, and perhaps no money manegement stratgy which makes him a big time loser.

Now forget about that... But lets review whats been said on this thread,, Stoxx claimed that he is FXsurfer teacher, then stopped posting for a while for the excuse of him being owned by some big institution who came here to Moneytec and picked him up.

then now... he is selling his analysis in the chat room for 150$ per person.

What happened with the big institution then?? someone please tell me what happened with the BIG $$$ that he is maneging.

Stoxx is a big time layer... and since he works with FXsurfer, Then its up to people to believe or not!

Everyone has the freedome of choice,, I hope Hoene and Pete will leave this thread alone... I think they made their point clearly.

I am out of here.

[Pipmaster]

Originally Posted by hoene003

"As long as no perfectly clear rules have been defined like “put sl at b.e. everytime you have +10p”
and some subjectivity remains in these trades, accuracy will suffer and therefore results between room members will vary "

OK Hoene, let me explain it in a little more detail. Stoxx himself has stated that he goes in with 8 to 12 lots, but obviously most do not have pockets this deep so from the view of your average joe, here we go. You can read "lots" as either mini or full depending on your level/funding. Add more lots as you feel comfortable.

These are the rules of thumb. With surfer's call, joe goes in with 3 lots and sets his stop-loss to what was called. He takes 1 off at +15 and sets the stop to be+1 on the other two. With stoxx's call, joe goes in with 4 lots and set his stop-loss. He takes the first off at no less than +5 then the second one at no less than +10 and immediately sets the stop to be+1 on the remaining 2. Stoxx will normally guide you through his calls so just follow them. If stopped for be+1, they will generally wait for another entry.

Now stoxx seems very strict with his money management whereas surfer is a little more relaxed, however, it is probably a good idea for the novice to follow them strictly until they are comfortable with the calls. Now I think bear did a good job of explaining one of stoxx's systems. Gann's time and price, where entries are timed fairly accurately before a move. I understand that stoxx (and surfer) use other systems/indicators also, but without doing their course I am not aware of them all. Surfer's EW system needs no explaining as this thread does that.

The idea is to set up for the big trades. Once entered and it goes your way, there is normally a target of at least a few hundred pips. As the price continues to move favourably, stops are moved to lock in more profit and additional lots are added along the way without ever risking profit. The idea is that by the time the final rise or fall comes (to hit the target), joe would have 10 to 20 lots on this final ride. Now, we are not going to get the big trades all of the time, so we will get ones of varying size during that time. Some will be 30 to 100 pips while others will be stopped at be+1 and some will be stopped for -15, but remember that normally a be+1 stop would have generated at least 16 pips on the multiples.

So, in the three months of the signal service we have already had a big one, a 400 pip move that was caught at the top, with additionals added along the way and targets hit pretty much on price. This one generated huge profit! There have also been quite a few others of varying success during the 3 months but the last two weeks that I have witnessed have been a bit up and down.

And that's it for me, I hope that makes it clear. Time to start a new week so happy trading and I'll be waiting for your calls

Regards

Pip

[peteuk]

What the heck is going on here!

This really stinks, I just thought you two were bad traders out to con the gullible who are stupid enough to pay, but this is going too far. You're unable to rally support from real people so you invent aliases and then have the cheek to accuse others of being someone else! I knew something didn't ring true about this whole thing, I just couldn't put my finger on it.

FXsurfer or Pipmasterbator or whoever you are your scam is finally revealed for what it is.

Anyone who goes to such lengths to dupe other members (unsuspecting and inexperienced people at that, the kind of people who need help the most!) has sunk to depths beyond belief. Quite obviously you can't trade to save your life and the only way you have of making money is to steal it from others.

Disgusting, absolutely disgusting, and to think people have trusted you to help them and all you have ended up doing is helping yourself to their money!

[peteuk]

Originally Posted by currencia

garbage snipped

Stick a sock in it Currencia, you're one of the people who defended FXsurfer and his partner in crime, you should be apologising not getting on your high horse spouting nonsense!

[Noor]

Originally Posted by currencia

This entire thread seems to be nothing more than a whole bunch of little brats that are divided into two camps. One camp attempts to analyze wave structure and time/price analysis to make projections worthy of trading. The other camp insists that no one can project anything and a trader must be a breakout scalper using things like fundamentals and news if any gains are to be had. While 99% of both camps lose and lose and lose, they cannot help put to pick on each others methods in order to take diversion from their own incompetence as a trader.

.

I did not want to say this... But here you go guys... Currencia has put it front and centre.

[peteuk]

Originally Posted by FXscalper

You may ask assistance from your IT about east europe and how most of its countries use proxy or same IP.

ROFL, Pipmaster is supposed to be from UK so that shoots your theory down in flames.

Don't blow any more smoke, it's pointless, the game is over.

[FXscalper]

Originally Posted by peteuk

ROFL, Pipmaster is supposed to be from UK so that shoots your theory down in flames.

Don't blow any more smoke, it's pointless, the game is over.

ok soul_trader ........