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firewalker

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One of the things that helps me on a daily basis is a spreadsheet printed out of last few months trades and in the ongoing increase/decrease/ decrease/increase/increase/increase etc (you get the picture) of the month on whole, and once I have any other problems you say about I look at that sheet and remind myself that, despite having an overall losing day here, and a bad run there, overall on the month I still made what I wanted. Its all part of the plan and intra/end of day doesn't require me to be up. Just end of month.

 

The other thing I do is have a second account with essentially 'play' money in it and when I see a setup not in my plan, or if bored etc, I take it using that, that way the urge is gone and I've not messed up the important account and let off a bit of stress...

 

Just an idea or 2[/Quote]

 

Damn fool is this?! :confused:

 

Thanks for the ideas, the second sounds actually very familiar! Not that I'm doing it, but someone else told me something very similar.... or perhaps I read it in your journal some time ago Perhaps I'll have a go it a second papertrading account, just to check if I've got the discipline to do that. Then at the end of the week I'll be able to confront myself with the bare facts - at least that should be the case - the papertrading account down and the other one up big time.

 

About that spreadsheet, well I haven't been trading real time for that long, so unfortunately I don't yet have those numbers, I've only got backtesting and forwardtesting which shows very promising, but unfortunately realtime hasn't been that good. I know most of it is due to myself not following the plan. Sometimes frustration just kicks in. I've been trading with one contract only to get some confidence building. It's just hard when you miss an entry with a tick because your limit order wasn't hit or you get out because you've only got one contract and need to take profits according to plan. Backtesting of course was done with 2 contracts, and always scaling in and out... which is one of the reasons I've been trading NQ next to DAX (much less margin needed). I don't want to risk too much money again before really having the confidence and discipline to do what it takes.

 

I think I'll be ok after I have a month that shows up profitable. But the first month is apparently the most difficult one!

 

__________________

 

If you know nothing of the darkness, how would you describe the light?

Those who have knowledge, don't predict. Those who predict, don't have knowledge. - Lao Tzu [/Quote]

 

Has it happened yet?! :rofl::rofl::rofl:

 

 

I was just repped on this by some newbie on T2W which is why I found it btw! Its from 2006 (I think!)

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Damn fool is this?! :confused:

 

 

 

Has it happened yet?! :rofl::rofl::rofl:

 

 

I was just repped on this by some newbie on T2W which is why I found it btw! Its from 2006 (I think!)

 

Yip, July or August 2006. Not even two years ago :)

(and was repped myself too btw)

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Then again I could be talking crap and this is just bouncing of another slightly lower level again and we'll see newer highs later this week!

 

EDIT: Uncanny how these things never work as soon as you try them! (att 2)

or.thumb.gif.d52ffc77406c93479ba84c16df92df40.gif

throws.thumb.gif.fe5c2605c69cf72e935868adb534b475.gif

Edited by wasp

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Volume in forex is very different to that in exchange traded instruments. Mainly becuase its bollocks.

 

FX is OTC and there is no exchange thus no real overall volume.

 

Anyhow, bored as I was and eager to as ever to see strength and weakness in moves, I have been taking a look anyway.

 

I have metatrader with an Alpari real account and if anyone has a demo account version, can you compare whether it is different, cheers.

 

I have little clue (generally :shocked: beat you to it FW!) to how volume is used in index trading but........ looking at the chart attached as you can see the volume on the bigger moves stand out and increase/decrease per the move size, easing off afterwards.........

 

Anyone else researched this?

volume.thumb.gif.a5dd4fa7a756f937335ac31a2abce91f.gif

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Volume in forex is very different to that in exchange traded instruments. Mainly becuase its bollocks.

 

FX is OTC and there is no exchange thus no real overall volume.

 

Anyhow, bored as I was and eager to as ever to see strength and weakness in moves, I have been taking a look anyway.

 

I have metatrader with an Alpari real account and if anyone has a demo account version, can you compare whether it is different, cheers.

 

I have little clue (generally :shocked: beat you to it FW!) to how volume is used in index trading but........ looking at the chart attached as you can see the volume on the bigger moves stand out and increase/decrease per the move size, easing off afterwards.........

 

Anyone else researched this?

 

I have a Demo account with Meta, it does seems that on big volumes there will be big moves, but a big move does not mean a big volume.

 

The graphs on IB does not offer volume for FX...... I have not then a lot of research into this, but it is just something I realised.

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I have a Demo account with Meta, it does seems that on big volumes there will be big moves, but a big move does not mean a big volume.

 

The graphs on IB does not offer volume for FX...... I have not then a lot of research into this, but it is just something I realised.

 

 

I think your right and its probably little help. I think someone said on T2W before that the volume is from the metatrader brokers accounts alone.

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another butchers using a line to dissect lower and higher volumes....

 

atm, it does look useful to see the strength of a move but anything can look good in hindsight...

vol2.thumb.gif.8b39f933c0a7a213a81901f22189aa13.gif

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Volume in forex is very different to that in exchange traded instruments. Mainly becuase its bollocks.

 

I have little clue (generally :shocked: beat you to it FW!) to how volume is used in index trading but........ looking at the chart attached as you can see the volume on the bigger moves stand out and increase/decrease per the move size, easing off afterwards.........

 

Anyone else researched this?

 

If I understand correctly, volume on FX charts is 'tick volume'. Tick volume is defined as the number of price changes... which means on bigger moves, expanding wider ranges, the volume will be higher because the absolute price change is bigger. So in your charts the high volume reflects nothing more than the fact price moved a lot. For that reason, there is -imho- not much else you can do with it (in FX).

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If I understand correctly, volume on FX charts is 'tick volume'. Tick volume is defined as the number of price changes... which means on bigger moves, expanding wider ranges, the volume will be higher because the absolute price change is bigger. So in your charts the high volume reflects nothing more than the fact price moved a lot. For that reason, there is -imho- not much else you can do with it (in FX).

 

Well yes and no.....

 

In that theory, when the move dies down, so does the volume so its handy as another indication that the move is losing steam.

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Afaik, there are three different types of volume:

 

(1) contract volume = the number of contracts traded during any given time interval,

(2) trade volume = the number of trades (regardless of their size) during any given time interval

(3) tick volume = the number of changes in price, regardless of contract/trade volume that occur during any given time interval.

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Afaik, there are three different types of volume:

 

 

For a start, my name is wasp, not Afaik ;)

 

 

(1) contract volume = the number of contracts traded during any given time interval,

(2) trade volume = the number of trades (regardless of their size) during any given time interval

(3) tick volume = the number of changes in price, regardless of contract/trade volume that occur during any given time interval.

 

Yes, I agree, but do you not agree my prior post would make sense?

 

I realise its fundamentally wrong in the essence of vlume BUT the chart attachment shows that despite the volume only being tick volume, it is a good 'indicator' of movements starting and ending.

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Well yes and no.....

 

In that theory, when the move dies down, so does the volume so its handy as another indication that the move is losing steam.

 

Yes, but the exact cause that volume comes off is because the move dies down... In fact, if you would make the scale big enough on the volume alone, you could draw a price chart from it which would match it pretty closely. Only thing you need to do, is colour the volume bars so you know which ones are up and down.

 

Try it, you'll see :)

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I realise its fundamentally wrong in the essence of vlume BUT the chart attachment shows that despite the volume only being tick volume, it is a good 'indicator' of movements starting and ending.

 

If by indicator you mean something that shows which you could easily see just by looking at the price bars, then yes :) I still don't see how it adds anything useful to it.

 

There is one occasion where it might be useful, but as liquidity is not an issue in FX, it's not really applicable:

 

Suppose you see price jumping from 160 to 165 with very low tick volume, then it has to be slippage or something must be wrong...

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I see T2W is 2 members away from 100'000.

 

Thats 100'000 pointless opinions :rofl:

 

I was only there to change my signature to ''Legendary members don't quit - they just go to better forums!'' :rofl:

 

I had to do it! I just registered under the name SOOCRATES to become the 100'000 member!

me.thumb.jpg.c998c7b4b1729f603cc2ff406fb00f85.jpg

Edited by wasp

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I had to do it! I just registered under the name SOOCRATES to become the 100'000 member!

 

Ah, so it was you! :o

 

even better!! save the screenshot

gotta love this

 

now post something like "everything is known in advance, I promised I would return" :rofl:

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LOL.....Sweep Stake to see how long it is until you're banned over there.

 

I'll say before the end of the day...

 

Aren't you familiar with T2W policy? One day ban, and then you can come back the next and start all over again :o

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has anyone replied yet or has it been removed already?!!

 

Oooh, I wonder if I will win a prize for being 100'000!

 

Sharky was probably expecting something monumental for the big 100'000 and instead he got a multi nick!

 

Says a lot about the site these days imo

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has anyone replied yet or has it been removed already?!!

 

Oooh, I wonder if I will win a prize for being 100'000!

 

Sharky was probably expecting something monumental for the big 100'000 and instead he got a multi nick!

 

Says a lot about the site these days imo

 

It's still there. Arabian nights replied:

 

"First spanish's brilliant strategy and now this.

Thanks in advance for all the entertainment!"

 

If you get a prize, you must come and pick it up from Sharky in person :o

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