Another thing Vahid:

Remove that Snipers thing from your report. It was just a system that you thought and traders can use it if they like. You can not sit in front of 30min chart and pick the signals for them. Besides, it is not the system that you use it for your own trades. You can share several systems, but it doesn't mean that you should provide their signals too. Just stick to one system here and share the related signals.

I agree with you. I would like to know if it would be wise to set a pending sell order on AUD/USD next week or if this signal has developed to far. I'm referring to the MACD.

Hi Joe,

Yes, you are right. Last week I spent all the time that I was used to spend on writing an article for the public area of the site, on useless discussions here. I will not do it anymore. Those kinds of posts will remain unanswered or deleted right away. Or at least you can do me a favor and answer them

I agree. Internet is full of GREAT buy/sell signal websites. I have used many of them too. Actually a few of them are promoted by forex celebrities. They just made me believe that "fame" can be like a big drum: So big with a lot of noise, but empty.

I did

Hi Vahid and fellow members,
This post should probably eventually go into the my trading systems sect. but I thought I'd start it here.

I started full time day trading some 18 months ago now, sold my business and thought " ah this should be a piece of cake-- easy money-- trade the stock market and become rich very quickly.
HA HA what a fool I was.
Never the less here I am now much wiser and less wealthy. I shan't go into how much I have lost as I don't think that is relevant, but what is important is that I am still here trading every day as a second year apprentice would, or a second year med student. Still learning the tricks of the trade.
I have gone a full 360*, starting trading on the 5 min charts, progressing through to the 4 hr charts but now I am back where I feel most comfortable and where the trading suits my personality and my life style. Trading the 1m charts.
I can hear all the wooh, really, holy crap man, are you serious-- type comments already
Well yes I am ---- and why???
Because as I said it suits my life style and I enjoy it immensely. Apart from that, I am a person who is at my best under the most pressure.
I was taught by someone that I regard as a very good trader back in October 2008 how to trade the 1m charts, all through the beauty of the internet of course, but unfortunately he had to leave and return to his native country where the internet is not readily available so I haven't had contact with him in over 12 months.
AND the lesson was never finished.
It's a bit like myself coaching someone for 6 months-- getting them to a stage where they are almost proficient at the sport and then stopping the lessons.
Leaves them between a rock and a hard place.

So that's where I have been for the last 12 months, trying to piece together the missing parts of the jigsaw puzzle.
Oh by the way, you may ask why do I think this person was a good trader??
(a) because I am a very good judge of character, even though I am only communicating via the internet, I can still read between the lines.
(b) This person actually sent me his trading account sheets to show that he was not full of it. (I have attached one) I'm sure he wouldn't mind.

Now back onto my dilemma, well it's not actually a dilemma, more a puzzle that I am very close to solving I hope.

And this is where I need opinions
From what I can see on the 1m charts there are a lot of traders that trade this way.
Why? Because of the way the price reacts to resistance, support, RSI divergence, MACD divergence on the 1m chart

Do the larger volume traders trade this way?_______________________________

All the major brokers have on their spec sheets whether scalping is allowed or not.--- So if this is so important for brokers to include it in their specs then there must be a lot of it happening.

I think a lot of robots scalp, and correct me if I am wrong but isn't that where they are most profitable???
I know for a fact that my broker would not allow one of the scalping robots to trade.

So-- I like to trade the 1m charts, I trade from (FX PRO time) 2:00hrs to 3:30 hrs then from 6:30 hrs to 10:hrs. the Ausy opening and just before and up to the London opening.

I trade Reversals based on the RSI over sold/bought and candle formations -- 10 rules (I don't think I should divulge my rules here atm)
I trade continuations based on pull backs then the continuation, and candle formations -- 14 rules.

Vahid, I would like to hear any criticism/support you have on this system and questions above. I feel that I am so close, however if you think that I am a complete fool please say so, I will get over it in a week or so.
The main reason, I feel, that I am not in profit yet is that I feel my eyes are not trained to the extent that they need to be to see the forming trades quickly enough and react accordingly.

NOW-- I do not recommend any newby trying to trade on the 1m chart, because you WILL lose. Listen to Vahid and trade your own way with what he teaches you.
WHY?
Because trading the 1m chart-
Takes an enormous amount of discipline.
Your eyes have to be very well trained to see the trade set ups.(I am @ around 6000 hrs atm and still not there.)
You have to react instantly, both on entry and exit.
You cannot hesitate, not for a second, literally, or it will cost you.
Break the rules just once and you lose.

Cheers
Ian

Hi Ian

That is a huge number of rules to assess and apply minute by minute! Have you been able to program any into indicators? Having a flag that was set when several conditions were met together could significantly reduce the thinking power required.

All the best

Michael

Hi Michael,
Have never actually thought of it, but even if I had, I wouldn't know where to start with regards to programming.
It's not as difficult as it sounds, because the rules have evolved over a long period of time and lots of testing most of them are now reactions, although having said that I do still miss some, and inevitably that does cost.
If I wanted to do such a thing where would I start?

Cheers
Ian

Ian

If you are not familiar with the language and structure then there is quite a bit to learn before you can actually program anything. That said, it is all quite well explained in the documentation. For a system like yours you might consider a simple go/no-go indicator which showed if certain key conditions are met.

As an example, suppose one of your rules was:

Sell only if RSI(10) > 80
Buy only if RSI(10) < 20

You could set two flags depending on the RSI value
// Declare the flags
bool RSI_Sell = False;
bool RSI_Buy = False;

// Set the flags
if(iRSI(NULL,0,10,PRICE_CLOSE,0)> 80) RSI_Sell = True;
if(iRSI(NULL,0,10,PRICE_CLOSE,0)< 20) RSI_Buy = True;

You do the same sort of thing for other indicators and then would combine them with something like
// Combine the flags
If (RSI_Sell && MA50_Sell && Stoch_Sell) Sell_Flag = True;

The code for displaying is a bit more complex but the beauty is that if you had this coded for one indicator only you can then extend it as much as is required.

I'm not able to access the platform for a few days but once I can I'll put together a working example for you. What you need to consider is if and how you can state each of your rules, and how they combine.

All the best

Michael

Thanks Michael,
I will look into it, looks alittle like making macros in excel

Thanks
Ian

Hello everybody,

Just wondering how many of you got your long orders on EURJPY filled today (based on trend following strategy). ?

Hi Jarek,


My order was filled at 11:11 CET.

Regards,
aquiagora

Hi Ian,

That was an interesting post.
If I may, I'd like to ask you if you have taken a step back and looked at how your learning/ equity curve is.
It may be that 6000 hours is insufficient for you to fully train your eyes but it could at least give you a theoretical indication of how many more hours you need to become consistently profitable.

All the best on your journey,
regards,
aquiagora

My order was not filled. It came within about 2 pips. I think you will be alright though because it still looks like the pending order will get filled and and it still looks like a valid setup.

Hi Aquiagora,
A good point you make, and yes I constantly step back and look at where I am going and thankfully the equity curve has gone from a steep fall to being a dead flat line at the moment. All I have to do now is to get it to start going the other way.
Yes the 6000 hrs is not enough, but there is improvement every single day. I still make mistakes but way less than a few months ago or even a few weeks ago for that matter, And one learns way more from the losses than the wins.

Thanks for the interest
Ian

Hi Ian,

Thank you for this post. I read it word by word.

Regarding your trading style, I must say that I have also traded using 1min chart. There is an advantage in it. As it is a very small and fast time frame, you see the patterns form in front of your eyes. So you become familiar with patterns and when a pattern starts forming you will know what pattern it will be. It helps to you find the patterns, reversals and continuations on the bigger time frame.

By the way, as you said, not everybody is able to trade using one minute chart. Whether you make money or not, I am sure soon you will get tired of this time frame and will shift to bigger ones.

Thanks for your reply Vahid.
Yes you're most probably right I may end up going to the bigger time frames and by that time I should certainly be able to see the high probability trade set ups.
Basically my trading is all scalping, T/P during the Asian session is 7 pips which widens a little as the candles and the formations get larger, later in the session.
The thing that I was really wondering was though, is-- Do some of the larger volume traders trade the 1 m charts.

Cheers
Ian

No, they never do it. An important reason is that they trade huge amount of money and brokers do not accept to have all the trades be ended in a few minutes with just a few or even few pips profit. On the other hand, as they trade big amounts, their positions can not be taken right away. They receive a lot of requote and their positions can not get filled instantly. So they can not use 1min chart.

Is anyone else getting a lot of "no Connection" time today on FXPro our is it just my problem?

Vahid,

I guess that we are having again problems with the signals that your are sending. The EUR/JPY order I had it at 110.865 at the FXCM and at the same point at the FXPRO. The FXCM open and It hit the stop loss. It is strange that it open at one broker and not at the other. I know that there is the pip cost.
I would rather that you continue making the videos and leting us know that there is a trade forming. Than it is up to us to take the position and ajust or target. The same way you were doing a couple of days ago. It looks like you send the signals and the market reverses right there!

Sorry about the criticism. But I really love your program and I'm learning a lot from you.

Kind Regards,

Abreumr

Quotes will vary from broker to broker. If you are not trading on FXPro you will need to adjust your entry, SL and TP to your brokers quotes as if you were taking the trade on your own. I do not trade onFXPro and always calculate my own points as stated above if I decide to take the trade. So there is really no difference if he sends the signal or says there is a forming trade setup. If I would of entered the EUR/JPY trade on the sent signal I would have been stopped out also but adjusting the points to my broker my order never got filled. Came within 2 pips of filling my order.