walterw

I never used minute charts on NT... so far I am using tick charts and they are working very well ¡¡ thanks Logan, just create a conection with Gain Data, use demo client and you will get first class tick forex data for free on NT... we are using this with our method.. so far its working very nice, never had problems... cheers Walter.

You actually dont need to pay NT a penny... I use NT only for charting and it is free.. also forex data on NT is free... hope this helps, cheers Walter.

I have to agree with Hal, that was an uptrend... would have taken a long... beautifull long with very clear pullback and timing entries... thougt we actually are using much precise indicators to time our selfs into the market and manage better RRR... cheers Walter.

Chimp Eats a Banana......

Check this one, cheers Walter FX Sniper's T3 CCI.mq4

Glad it helps ¡¡ cheers Walter

Thanks Logan for your kind words, yes you can find inputs for metatrader based strategy on that thread... I actually trade with tick bars charts wich gives much better precision and scalping style... cheers Walter.

Thanks for sharing Eric , cheers Walter.

Hi Eric, can you post a chart of that ? it would be nice to see it... thanks Walter.

Are you referring to neural networks ?

Hello dear fellow traders ¡¡ I was thinking this weekend as I am preparing a technical update, why do we traders have certain tendency to study in new frontiers of technical analisis ? Is it the look for the Holly Grail ? mmm... or is it that technical optimization is really posible ? First of all let me make clear that the Holly Grail does not exist... you will never find it... and chimps dont drink water with grails, less sacred ones... NOW, optimization DOES EXIST... and this is as true as you can change the way you trade with very simple optimizations... Evolution of a method its posible, it takes time and normally, its funny, but the optimization comes in a simple presentation... too complex things most probably are not too much optimized... The other day I drove on a friends BMW, pure pleasure, very simple presentation of the pannel, not to much buttons, not too much lights, simple presentation but a great optimized piece of automotive engineering ¡¡ now BMW has been optimizing their cars since some time now... lots of years of getting their product optimized, are their cars perfect ? no, not perfect, but yes optimized... same happens with Technical Analisis... can it be perfect ? NEVER.... can it be optimized ? thats for sure... I am a strong beleiver that practical experience is the best teacher in order to produce optimization on Analisis... trading has attached a series of sensations, joys, frustrations, discipline, undiscipline, patience, non patience, etc... all this must observed in the process of optimization... for example, my friends BMW has some nice lights outside on the doors when you aproach it from outside... mmmm maybe some BMW engineers thought thru experience that some times having light when aproaching a car may be very usefull on a dark night... you see... as time goes by, we find new things that could be revisited on our technical methods... Thats why some traders drive on BMW`s (technically speaking) and other ride an old Oldsmovile year 60... you see, it depends specially on your actitude towards accepting what can be optimized... An open mind is needed for this... the right actitude to accept when you are not totally correct on your performance and offcourse you must beleive on the fact that optimization is possible... Are you looking for the Holly Grail ? stop doing so.... better use your time for optimization.... cheers The Chimp. PD: BMW X6 aint that nice ?

Hi tlfx, as many know here, I had developed a system wich I share on a private basis ( and I dont speak too much about it here, as we agreed not to make publicity of it here at TL )... so far it has been a nice year on forex, and 2009 will still be better as I am about to release an update to my students, wich has even better performance... On the past months I had been trading with my 10 pip daily target on a consistent basis and on 2009 I am thinking in taking this daily target all the way to 20 pips, as the new improved method shows very nice performances on my actual testings... RRR has been the key always... Now, all my material posted here on TL its good enough to trade succesfully, maybe on our private stuff we have an extra edge that I wanted to keep with those who show some further apreciation... with no animous of promoting anything, thats my answer to you tlfx on how my forex trading is doing... cheers Walter.

Yes, correct... Exits is a an important issue it MUST be resolved previously on putting in any trade... its so or more important than entries... actually on my system, the relationship between entry and stop will determine my risk and the relationship of my entry with my "technical exit" and "max range" of a move, will determine my reward... so you can see that my RRR is measured from my entries to my exits... be it positive or negative... a trader who only looks at entries can not trade on a professional and consistent way... When you create a system you first focus on establishing entries first, wich is ok... that normally involves setup and specific timing rules... after that technical exit and technical stop must be established as well... this technical rules should establish your RRR eventually... NOW.... the most important thing is the SPIRIT of the trade... what are you really looking for on a trade... are you looking to beat the market, beat the professionals, revenge from past errors, become fancy and excentrical on your methods... improvise perfection, proove to others that you are better than them, financial suicide, emotional exaltation... OR making your daily profit and enjoying in making it... beleive it or not, this wrong actitudes can make the difference between having a good sound competitive method and a very bad aproach to trading... So recaping : a technical method must have correct entries and exit rules that will give you a good RRR, you must have the correct actitude towards trading, and as we mentioned yesterday psicology is also important ( managing fear and greed on your mind )... cheers Walter. Bump: Thanks Blowfish, I had been a little busy this year... cheers Walter.

If the technical system its not Sound ( containing good RRR in it ) then this frustration and fear will always be there... we as professional traders MUST understand that first of all, technicall issues have to be totally resolved previoulsy to setting the psichological area... unfortunately it is a futil task to program your psicology on trading if the technique its no good... The firts question to answer is : are there good and bad techniques ? better and worst ones ?.... I personally beleive that a good technique is the one where the intrinsic technique has a good RRR and you feel confortable with it... there is a great deal of good techniques that have a good RRR embeded into it... just find the one that suits your personallity, but it MUST have a good RRR... that way you will have always a positive final result, small stops vs large profits ( real or potencial )(chimp thing ).... The second question, (once you resolved your technical issue ) its the one Brown previously commented.. how much money in relation to your economy ?... And third and final, as previously comented, you MUST make your psicological framework previously to trading where fear and greed must be placed on the right place... no instinctive reactions can be allowed on your trading... as you are buying and sellling risk permanently, we humans react in front of risk and want to avoid it... well, be my guest this bussiness its about NOT AVOIDING risk when you take a trade, BUT YES controlling risk thru a sound RRR embeded into your technical strategy... you can hear all the buda, mind programing tapes, mental hipnosis just in vain if your RISK its NOT CONTROLLED.... how can you controll it ? well, with a good RRR embeded into whatever your technical aproach is.... There is no better or worst technical aproaches, Chimp stuf, Candles, VSA, VMA, Delta trading, Pivotology... etc they all are good, what can vary its how you manage your RRR on any of this aproaches... thats the key... then programing your mind its the next step ( I recomend Mark Douglass book for that ) and finally... the most important maybe crucial factor... ENJOY TRADING really enjoy it ¡¡¡ have a positive thinking about it, amuse your self on this wonderfull world... its so beautifull... if its not, if it is a problem, a tragedy, maybe you may want to rethink if it is for you... So recaping : 1_ Good sound technique with good RRR 2_ Dont trade more money than you can afford to loose 3_ Set your mind with Mark Douglass 4_ Enjoy it ¡¡ change your negative actitude 5_ $$$$$ like chimp stuff.. that was my chimpastic 2 cents... cheers Walter.

Looking at your chart that vma had a large input, and YES VMA do things very diferent to any other indis... they are superb and can change any traders life... it just takes an open mind ( not for everybody )... I actually have several traders from my private coaching who are having consistent results with our methods based on vmás... offcourse perfection does not exist, but opimization does exist and beleiving on this paradigma the chimp has evolved to new levels... I DO recomend going slowly thru this thread and others from the chimp to understand the true power behind the vmas combined to the chimps setups... it certainly can simplify the way trading can be aproached... The funny thing is that consistency its not making huge amounts of pips per day, all the contrary, its being disciplined and being able to make 10 pips per day... every other day.... and every other day... its sums up, beleive me... and the traders psyche gets relaxed and selective into wich scenario he really its going to trade.... my actual method shoots to trade on the best scenario and like a kid it makes his kiddy 10 pips... just pure fun, simple stuff... good trading fellow traders ¡¡ cheers Walter.

Thanks Moxy and you all good people for your kind words ¡¡ it has been a great journey and improovments also where done, unfortunately I decided to do it available on a private basis.... about the validity of this material, it keeps working thru time... it has prooved to be consistent over time... Trading must be simple and RRR has to be present always, about stops this thread has the chimp classic stop : http://www.traderslaboratory.com/forums/f24/chimp-s-universal-stop-system-2754.html As always I am researching new variations that are going to be superb... again, this updates are available to a private group... still all material posted at TL its tradeable and its good enough to make you a living thru trading, our private stuff just has that extra edge... trading is FUN ¡¡¡ cheers Walter.

That was a chart from Russell (AB), using Esignal data feed (ES) into tradestation...

Tick charts, each bar is formed by x amount of ticks ej. 23 ticks = 1 bar... metatrader does not have tick charts, only time based bars... the chimp on his actual aproach uses tick charts, actually on forex he uses Ninjatrader for charting purposes wich does have tick charts and its free of use... hope answers, cheers Walter.

A true professional trader should give same importance and technical focus whatever the acct size is... once you have a solid method ( wich is key for success) ... it doesnt matter if it is 100 bucks or a millon, if you want to succeed, you are not playing... you are trading... can you still enjoy trading ? jajaja, well yes, depending in your method... chimps do enjoy ¡¡ cheers Walter.

Well yes , you can start with $1000 forex trading , why not ? and if you become consistent in making 10 pips per day, that sums up pretty quick... Its a good idea to prove yourself as a good and stable trader with small amounts, then volume on your acct its a by-product of consistency... cheers Walter. PD: consistency demands a simple method... when things get too complicated its very dificult to be consistent.

so so true chimp... cheers Walter.

Hello fellow traders, I wanted to add my experience arround adxvma's moving averages... the chimp actually uses this kind of indicators on his system ( all indis developed here on this great forum )... this averages have the ability of going horizontal when market chops arround and take a direction when things start trending... you can check this threads for further information : http://www.traderslaboratory.com/forums/f24/the-chimp-s-forex-trades-2698.html http://www.traderslaboratory.com/forums/f24/playing-with-the-vmar-s-open-2440.html my two cents, cheers Walter.

Hi Pat, what timeframe are you using on that chart ? thanks Walter.

atr on keltners is calculated from the range of the bars (h-l)... my inputs are quite discretionary, I actually try to see how the pivots get formed inside-outside to determine this settings...

About Forex Brokers, not all of them are bucketshops.. you can perfectly trade forex in a professional way on the right place... I will try to post some trades... cheers Walter.