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iwshares
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Everything posted by iwshares
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Without wanting to know dollar amounts, what does your equity curve look like for the time this thread has been running? You have had a very high win rate so would be interesting to see the long term effect of averaging down your losses on this.
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Trading the Grains - Soy, Corn, Wheat
iwshares replied to brownsfan019's topic in The Candlestick Corner
Hi all I'm demo trading a soybean strategy at the moment (my experience so far is in trading forex). I am using an Alpari UK demo account for this purpose. I sold ZS.Q1 at 1379 with SL at 1382.25 at 11:05 CET, 21/7/11. My 1382.25 SL triggered at 11:10, 21/7/11 despite price only reaching a high of 1379.5. My question for the more experienced soybean traders is is this sort of fill very common? Is it massively worse/better with different dealers? As you can imagine I was a bit alarmed to lose 11 ticks more than I thought I should have. Any comments would be very much appreciated, thanks. -
Yes Ingot it makes a lot of sense, case in point in testing a new strategy today I realised half way to stop loss I'd drawn a trend line wrong but let the trade play anyway - which meant I then also noticed I'd made a premature entry, something I'd not have noticed had I cut if off straight away! The age old phrase "You learn more from mistakes than successes" seems especially true in trading
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I wouldn't want to call it an academically suitable site, but here is a starter: Stock market index - Wikipedia, the free encyclopedia
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Firstly thanks for the thanks. To clarify, I don't believe price has a memory, more that there are key support and resistance levels (around which people often place stops), that once broken may indicate a change in trend. There definitely exists a conflict in EUR/USD. On the one hand you have the lower highs since the 1.4939 high of 4/5/11. However this has been accompanied by higher highs. This narrowing of range/flag pattern would suggest to me we are approaching a breakout - possibly strong due to the time it's taking to form - though I couldn't call in which direction. It will be interesting to see if price breaks above the 1.44417 resistance, and also the upper trendline over the course of the current short term uptrend.
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Apologies Cory if you've already posted but I would be interested in how/if your trading system has changed over the years, especially since you've started recording your trades here at TL?
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Resources for Technical Strategies
iwshares replied to MadMarketScientist's topic in Technical Analysis
Wow great list (interesting to see I've got some). Recently read and lots of good stuff in: Reminiscences of a Stock Operator by Edwin Lefevre Pit Bull by Martin Schwartz -
If the weathers as good in the US as it is in London, calling it a week and heading outside sounds like a good plan!
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Have you considered trading on longer/different time frames to see if that helps. I trade base on te dailies and really appreciate the breathing room of the Market weekly close. Good work spotting why the trade stopped out, before placing one based on the same setup again
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I've not gone live yet - still demo trading to learn test etc - but what I am going to do is withdraw all my profits once my account balance exceeds my startup capital. Only when I've been trading successfully for a few months will I then invest more capital into the business. If you can trade $1000 without worrying but the $1150 is too much to work with then take out £150 - problem solved! :>
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Well some people hedge as part of their system e.g. hedging inside bars so not necessarily bad. Mind you I have run into trouble in the past few days hedging as you have, though as long as they don't have too tight stops the market will go one way in the long term and you can then close the wrong leg of the hedge. I'm currently long entry at 1.43207 (in hindsight I entered early, should have gone in about 1.43485, above a better resistance but oh well, hindsights a great thing) with a stop loss at 1.41810. Looking at monthly charts we've been in an uptrend since 2001, though the high of last month was (slightly) lower than the high of Jan 2009 which was also lower than the high of Jul 2008. The low of June 2010 was also lower than the low of Oct 2008. This could indicate a change to a long term downtrend. If price doesn't breakthrough 1.5 this could be a strong signal a downtrend is in progress. I'm going to keep watching the chart.
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So Alpari opened at 2300 BST which is 8 am Sydney which makes sense, but does anyone know why Oanda opens early?
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Hi all, Probably a simple question but why do different brokers start the week at different time? I have a demo account with Oanda and a demo account with Alpari. I just placed a buy order on EUR/USD (which opened at 2000 BST) with Oanda and went to the Alpari version of MT4 to compare prices and it is closed. I also noticed that with Oanda the pairs seem to stagger the open, as I write XAU/USD is not yet open. Any ideas? I'll update the time Alpari opens. Thanks iwshares P.s. anyone with Alpari experience I'd like some feedback, they are ticking my boxes for a broker but would be interested in other peoples viewpoints.
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Update GBP/AUD stopped out 24/5/11 21:14 ET EUR/JPY stopped out 25/5/11 01:05 ET
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If it's any consolation... Only 4 of my entry prices have been hit this month out of several planned trades... 1 win, 1 loss, 2 trades in progress: GBP/AUD - Sell stop 1.53103 triggered 14:59 ET 23/5/11. SL 1.53670, TP 1.514 EUR/JPY - Buy stop 115.477 triggered 04:08 ET 24/5/11. SL 114.995 TP 116.920
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Ooo ZDO I never use the flowers in pesto but have some on the plant now, I'll give it a go. Seems traders like making pesto (that's the reason I bought the first plant lol)
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A few years ago I had a basil plant. Unfortunately I was away a lot so didn't water it and it died. I now have 2 basil plants, 1 parsley plant, 1 lavender plant, 1 mint plant and 1 rosemary plant. Despite some bad patches of near death, due to the same problem with the first basil plant, only the mint has died. Just realised I've been a much more successful gardener since I used more capital to acquire more assets and diversified my portfolio.
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Introduce Yourself Here - Don't Be Shy!!
iwshares replied to trading4life's topic in Beginners Forum
Hi maddman, welcome to the forums. I don't know anything about Gartley Trading so would love to read a thread if you have the time to post one. -
LinkedIn: How Long Will Rich Investors Stay Rich?
iwshares replied to MadMarketScientist's topic in General Trading
Yeah print media is collapsing due to struggle finding advertisers. The big companies are pumping money into advertising but there must come a point where they hit their limit. I have a mate with a successful social network analysis business (yes how crazy does that sound), I hope he flogs it and takes the cash before it folds... -
LinkedIn: How Long Will Rich Investors Stay Rich?
iwshares replied to MadMarketScientist's topic in General Trading
Looking forward to shorting Linkedin, might as well get in early to maximise returns... -
I'm intrigued, can you tell us more?
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Just think if the system was perfect we couldn't take advantage of it to make some money...
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Very interesting take on the Fiat system Tradewinds. I'm reading "Reminisces of a Stock Operator" at the moment and the 2010 edition has some great footnotes on the late 1800's when the US temporarily abandoned the gold standard. Is part of the trouble with Fiat system international trade e.g. not only can the grocery store in the above example decide the value of a dollar, but also any country or business that chooses to trade with the US e.g. buy bread from a US bakery for sale in it's stores. Looking at Nixon's decision in the 1971, rather than accept the dollar was over leveraged he eliminated the problem by a move obviously supported by those who used the USD as a reserve currency. It's analogous to the credit crunch of 2008: rather than let the banks go bust like any other business they were bailed out. I'd bunch quantative easing under the same banner. Believing in capitalism and letting the natural selection process take place seem to be two different things. Nixon merely put off solving the problem. Of course how could the US for example buy enough gold to back their currency again?
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100k Registered Users of TL!
iwshares replied to MadMarketScientist's topic in Announcements and Support
Fantastic stuff, very pleased to be part of the community -
Hi fxallday, just realised I didn't post an update. Well the Bernake speech didn't have much of an effect, though I was very surprised by the impact of Trichet's speech about Euro interest rates staying the same for a while to come on 5/5/11. Across all EUR pairs there was quite big movement. Despite the massive drop in the EUR/USD price has failed to breakthrough support of 1.42879 (the high from of 4/11/10 that was only broken 6/4/11) though has tested it with lows below it the last 2 days. Drawing fib levels of the whole uptrend starting on 9/1/11 we haven't dropped below the 61.8 fib level since 1/4/11 and no lows have even broken through it. Drawing a trend line through the lows of 9/1/11 and 8/14/11 does show a break through on 6/5/11 with closes below it each day since, adding strength to the argument that the long term trend has broken and price will continue to drop. I'm planning to wait for price to get nearer to the 61.8 fib level of 1.41385 and see how it behaves with a view to go long with a target around the resistance of 1.45222, stop loss below the support of 1.40091. If price shows strong movement to the downside aim for the support line of 1.38535 with stop loss around the 1.42879 resistance. What thoughts do you have fxallday, you mentioned you had some open trades, are you still long or have you switched short? Obviously that trade idea I posted above would have been stopped out, I'm glad I held off for the two economic announcements before placing the new trade.