Don4

Ok Thales, Maybe I should give your system a honest try. I truly dont believe that I was knocking it but I have never had much luck with stops. I want everybody to know that I will be using a demo on a 5min timeframe. And that I will only be trading eu. So with that said here is my first trade. Don

:applaud: I hope all your trades are winners. Don

"If price actually does break above then the move up is often powerful." I guess I could say the same thing for a short. But you have no way of knowing. Any body could guess. But the truth is everybody here is only guessing! Even Thales. OK back to the program. Don

Well maybe a short, 3rd times a charm. Thales, if you was not trading eu what kept you out? Thanks, Don

If I could get rid of that belief I would. But until then I cant. You say that my stops are too tight and I truly dont believe that they are since the are basically at the same place as Thales and you but on a different timeframe.My goal here is not to learn Thales system I find it very informative though. I dont see how anybody can place stops (in forex) and become profitable. I do understand what you and Thales is trying to show here and I am here wanting to learn. So I will continue to be here asking questions and posting pictures. Sorry, Thales but here is a example. Thanks, Don

"You must learn to manage your trades based upon the size of the initial swing that provided you with the indication that an opportunity existed. If you are trading a small swing and you had an initial profit target of 20 ticks and a stop loss of 15 ticks, then the first 1-2-3 that price etches out against your position may be the indication you need to quit the trade, and possibly even reverse your position. However, if your are trading off a swing that gives you a 40 tick stop loss with an initial profit target of 130 ticks, there will likely be visible multiple 123's etched out at the smallest degrees of price movement." This is why I dont believe your system or any body else's system can be taught, even though you might on a very rare occosion have a few people that truly understand, I dont believe most will. Not that you are not explaining everything, you do! But most of us will not be able to grasp it. I believe your GU trade explains how I feel because if you would have been there you would have exited at best with a breakeven or who knows 40 pips but you wasnt. It seems as that trade was a gift from God. Thanks, Don

Helllo Marko! Glad you joined this discussion. I have a few questions for you. Where were your stops are they here or are they in your head. Do you move stops as the trade progresses or again are they in your head? As you can tell I really have not had much luck of using stops. And a few times not using stops has killed me. (But I believe with proper money management that can be stopped) Could you post some losing trades? Thanks, Don

Thales, price on MB trading was the same as IB, (I hope this picture is right.) But forex is a crazy business though!:boxing: Don

I didnt have this system when I traded futures and in hindsight anybody could look at your chart and say anything but here is my opinion. I do believe Gabe was right. In the way Thales trades. But Im not Thales so you might be right. But just for giggles here is the way I believe I would have traded it. Don

Thales, when would you have got out. Thanks, Don

I use 2 systems 1 would be like I posted here before that you are talking about above and the other would be like I said. I enter with the same with both trades but the stops are completly different! Thanks, Don

Maybe I can answer your questions like this. What do you do if you have a power failure? It doesnt matter if I can place a trade I am in with stops. 8tp and 160sl now its safe to say that if I took all the setups that my system gives I would find maybe a few trades in the week that would be losers. Thats why I only take 2 to 3 trades a week with most of them being 2. But I would prefer 1. The less trades that I make the higher probability of a profit. The more trades that I make the higher probability for failure. So, does it really matter what system I use? I would have to say no, but I want to get my 8 pips as soon as I can. Even if I am not around my computer to see it. Or you internet connection gets severed? Like last night, sorry about that! ,Don

First, I would like to apoligise about what I wrote but I was not angry when I wrote it. But reading it again I can see how you thought I was. Sorry!! With that said I think you are doing an amazing job with this system. You are a polite person and very,very humble. Thanks, Don

This is the reason that I dont use stops. Or place them very, very far away. Did you even read this post above. You had to of since you wrote it. But it would seem as though you avoided everything that you wrote. Why! What made you avoid all of this? Thanks, Don

So, I believe the pullback will occur somewhere in this circle. Or would you have already been stopped out? Thanks, Don

Ok Thales, Since I have never had any luck with stops. (But bleeding me dry) Could you walk me through it how you would do it? I believe there is many here that would appreciate it. Not necessarily for this system but with there own. (Its a demo) Thanks, Don

You might be right, but unless it breaks 1.5142 well I just looked over and it did.

Well it looks good on the 5min.

Ok, for the first part of the trade is this bascilly what you do. Thanks, Don

Yes, I agree with you on that. But you never really answered my question. Sometime next week could you post a trade showing where your stops auctually are instead of where you would get out manually. I am not trying to argue. But it would give me some piece of mind! I am in no way trying to do with what you are doing in your system. But I think it would be very interesting for others to see. Thanks, Don

Thales, would you have a stop in the market or would you have a larger stop waiting to exit manually.

Thales, I would say that you moved your stop by now, is it somewhere around 1.6587.

Sorry guys, I do that alot it might be because of the stroke I had a while back:doh: But I will start a new thread so that I will not clutter this one up.

Forex is a beast, and I find it highly unlikley that anybody can tame it using tight stops. Although, I guess there can be exceptions (Thales). But it doesnt work for me! What I want to show you is not necessarily the setup but money management. It is true that I lost $21,000 trading it was $6000 in futures and $15000 in forex. But I knew what I was doing(yea right). The truth is that I didnt know what I was doing. So with that you can read this post with discretion.

Yes, as I said in that post I would. Is what you are wanting, is for me to tell you how many signals I would have had in that chart? Hmm, I dont understand. Sorry!!!