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The Holy Grail - Found

  • #501
  • Jan 9, 2008 7:45am Jan 9, 2008 7:45am
Hi,

Would you let someone program your method into an EA? 3000 pips is impressive. If you allowed someone to build an EA for it then you could charge for the EA? Remember a fast nickel beats a slow dime everytime. As you are making 3000 pips if your system really works on EA then you will would even make more profit because of the income from the EA.



Quoting twoblink
I have a system that is not the Holy Grail, but maybe a Holy tea cup??

I rack like 3000+ pips a week. Does that qualify?

I use to post weekly results.. I'm not sure what "proof" you all will accept, because I think most of you have the mentality "If I can't do it, NONE OF YOU can possibly do it."

If you believe in what Ed Seykota says, most of you believe there is no holy grail, and thus you never find it, and thus you confirm what you already biasly think you know to be true.

"if it's the holy grail, PROVE IT!" Actually, I find this statement to be ridiculous, why don't you prove it's not? And when I prove it, will you believe me anyways? I doubt it. We all get what we want out of the market.. I wanted 4000 or so pips a week, and that's what I'm getting. Most of you want bitterness and a sour disposition, and that seems to be what you are getting in spades...
  • #502
  • Jan 9, 2008 9:39am Jan 9, 2008 9:39am
Quoting azjeff
Hi,

Would you let someone program your method into an EA? 3000 pips is impressive. If you allowed someone to build an EA for it then you could charge for the EA? Remember a fast nickel beats a slow dime everytime. As you are making 3000 pips if your system really works on EA then you will would even make more profit because of the income from the EA.
Question, your system makes 3000 pips a week. How much would you sell it for? And would you ever put it into an EA so someone can buy it for $39?

I wouldn't!!
google:
  • #503
  • Jan 9, 2008 9:43am Jan 9, 2008 9:43am
Quoting tdion
Bad example, twoblink. For every one Bill gates, there are a million "failures" that claimed they'd make billions, but didn't for one reason or another.
yes, but the fact that there is a Bill Gates means that it's quite possible.

Go buy "Market Wizards", they introduce a lot of people you claim to be impossible..
google:
  • #504
  • Jan 9, 2008 9:50am Jan 9, 2008 9:50am
Quoting tex123
Hey Norm, I'm 6 for 6 . Been playing the jpy's.I have an alarm set up and it beeps. But like you said i'm ready for the trend.I like this system regardless of what anyone says. Looks like the same S&R lines are hit frequently from backtesting. Everyone take care.

Tex
Hey folks, it's good to be back. I just took off most of December and just started trading this week. FXNorm and tex123, it looks like you have it.

And I agree with TwoBlink. The first step is "figuring out" what works and why. For me, that was discarding all the indicators systems out there and focusing only on S/R as formed by trend lines and swing points. I add the daily trend as a filter, and I like to see trading in the direction of bias (but I have and will trade against 30M bias). The next step is getting a few wins to believe in the method. After you pass that point, the rest is easy. I guess all that psychology stuff REALLY is important, because once I had confidence in my method, wins stopped being thrilling and the losses did not depress me. I have only taken 3 trades this year, one being the Cable trade that Billbss took. A good way to start the year (I did not trade this year prior to NFP).

Again I stress that this works for me because it allows me to place stop orders for trade entry prior to retiring for the evening and to sleep without worrying about open trades. When I get up at the NY open I find that either the stop has hit & I am out with +20, or the market went the other way and my entry stop was not hit (and I lost nothing). This is what we all want. Either in with a win or not in at all.

The continued attention to this thread confirms the validity of this type of trading (thinking instead of blindly following lagging indicators), and best of all it is getting readers to stop and think about trade/method/system ideas.

JW
Chance favors the prepared
  • #505
  • Edited 11:02am Jan 9, 2008 10:26am | Edited 11:02am
Quoting twoblink
If you work hard, you will find a way.
Unfortunately not everyone can be what they want to be. If I want to be a professional hockey player I could go spend 8 hours a day for the next ten years on the ice and not even come close to getting in the NHL or even the lesser leagues. The fact is that not everyone can be in the NHL no matter how hard they work. Hard work doesn't always equal success.

Similarly, the "you can do anything you put your mind to" saying is only used to motivate children.

Sure, Bill Gates does exist, but for every Bill Gates there are millions of people who fail. It is just like the lottery, sure, some people DO win, but the odds are stacked against you like none other.

Questioning threads like this isn't at all about wanting to prove someone wrong. It is about potentially helping others not get a false sense of hope or a misguided idea about how "easy" trading can be.

And yes, nothing would make me happier than seeing other's success!

If you make 3,000 pips consistently I think that is fantastic. More power to you. And trust me, I too know what it is like to be questioned and how it can be frustrating to give ultimate proof and have it not be accepted. But again, that is not what this is about because not one shred of proof has been offered. And sure, the original poster doesn't have to post anything. All we are saying is that it would be nice and potentially beneficial to the discussion to see something that outlines all of the trades. That way we can go back and examine the setups to truly grasp the methodology.

But if I pull a Kim Jong Il (http://www.worldtribune.com/worldtri...rea_06_16.html) and tell everyone I shot 38 under par the first time out playing golf I can't expect that some eyebrows might be raised, right?

Cheers to successful trading!
  • #506
  • Jan 9, 2008 10:29am Jan 9, 2008 10:29am
Hey John, Welcome back!

Good to see your comments and to know we're on the right track.

Hey Tex, Good trading in a range bound market, if we can just get thru
this ranging period we should do very well. I also, like you, think JohnW's method will live up to the numbers when the trends resume.

Next play is GBP/jPY: It has completed its retest on the neckline break of the head and shoulders pattern and looks to be ready to break below the consolidation zone its been in. So, watch the break below 213.50 area, I'll be in at 213.38.
This will be the initial play, but I'll be watching for the pullback, continuation pattern to participate in the full projection of the breakout.
  • #507
  • Jan 9, 2008 10:32am Jan 9, 2008 10:32am
I said if you worked hard, you'll find a way.. I highly doubt ways are found from being a naysayer. It doesn't mean mean that you WILL, but when you have an attitude like what most of these people have, it's pretty much impossible.

Again, improbable and impossible are two totally different categories. Read Market Wizards, some of these guys make hundreds of percent per year..
google:
  • #508
  • Jan 9, 2008 10:59am Jan 9, 2008 10:59am
Quoting twoblink
yes, but the fact that there is a Bill Gates means that it's quite possible.

Go buy "Market Wizards", they introduce a lot of people you claim to be impossible..
Yep!

For every naysayer, there is a:

Robert Fulton
Roger Banister
Richard Dennis
Rosa Parks
Wright brother
Tom Edison
Edmund Hillary
Abe Lincoln
Dr. Christiaan Barnard
Chris Columbus


Good thing for them (and most of us), the naysayers were ignored.

As the old saying goes....some folks see the glass as half-full and some as half-empty......they are both right!
  • #509
  • Jan 9, 2008 12:21pm Jan 9, 2008 12:21pm
I'm sure many of you are aware of the resistance level on the 1 hr chart of Usd/Jpy. For those of you that are not, there's a multiple hit resistance line at 109.75. I'm watching a break of that number and will enter at 109.81, 20 TP and 30 SL. It may take a while (overnite), so keep an eye on it.
  • #510
  • Jan 9, 2008 12:24pm Jan 9, 2008 12:24pm
Hey Norm, I see a reversal at the 214.25 on jan7th and couple more hits on that line. I'm allready in below that line.Maybe John can clarify this one for me.Will see what happens.
  • #511
  • Jan 9, 2008 12:50pm Jan 9, 2008 12:50pm
I found the holy grail when I was introduced to the forex market. The forex market is my holy grail
  • #512
  • Jan 9, 2008 12:53pm Jan 9, 2008 12:53pm
Quoting tex123
Hey Norm, I see a reversal at the 214.25 on jan7th and couple more hits on that line. I'm allready in below that line.Maybe John can clarify this one for me.Will see what happens.
Hi Tex,

John doesn't play G/J, I'm waiting for a new low to enter in (hopefully) a 1000 or so pip drop, not just the 20 pips. You can see what I mean on the 1 hour chart.
  • #513
  • Jan 9, 2008 2:31pm Jan 9, 2008 2:31pm
No account statements so far? Pfff.
  • #514
  • Jan 9, 2008 3:14pm Jan 9, 2008 3:14pm
re: [...] I add the daily trend as a filter, and I like to see trading in the direction of bias (but I have and will trade against 30M bias). [...]

Seems like you don't follow to rigidly some system you believe is a system.
I question that. If not to rigidly to follow some system, perhaps you don't follow any system (?) The contrarian entries are no good in such a way
that their risk factor of loss is higher. And you have a lots of opportunities
to enter ONLY risk free trades.
So when you enter contrarian trades, your system is weak, bad or no serious system.
Serious system in trading one is meant to follow rigidly - otherwise his system is no system or no serious system and can be always replaced by better system.
screen action instead of price action
  • #515
  • Jan 9, 2008 3:34pm Jan 9, 2008 3:34pm
Quoting Tjpld
No account statements so far? Pfff.
Account statement? Where did this come from? Are you sure your posting in the right place? LOL.
  • #516
  • Jan 9, 2008 3:52pm Jan 9, 2008 3:52pm
I hope you guys played USD/JPY? Anybody?
  • #517
  • Jan 9, 2008 3:58pm Jan 9, 2008 3:58pm
If you missed usd/jpy, watch eur/jpy, it should be next to break.
  • #518
  • Jan 9, 2008 4:03pm Jan 9, 2008 4:03pm
Quoting FXNorm
I hope you guys played USD/JPY? Anybody?
Went long U/J at 15:00 and picked up +40. I saw the signal off a 5 min TF when the candle closed above the 60 SMA. http://forexfactory.com/images/icons/icon14.gif
  • #519
  • Edited 4:52pm Jan 9, 2008 4:38pm | Edited 4:52pm
My next candidate eur/usd I'll enter at 1.4636 for a drop of 20 pips.
(hopefully lol)
  • #520
  • Jan 9, 2008 7:19pm Jan 9, 2008 7:19pm
I have a buy stop at 161.67. Won't be able to monitor so will see what happens.Looks like some good touches in the past and broke through. This can be a wild pair like the gpb/jpy and may get a stop loss.
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