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IM RICH!!! OR AM I?
Last Activity 1/5/2018 12:26 PM
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megabucks

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Subject : IM RICH!!! OR AM I?
Posted : 7/30/2011 5:01 PM
Post #24699

hi guys
read about PS giving ppl unrealistic results but i don't understand why my charts say im so wealthy in PS
Can someone please explain?

i purchased itlb3 and tested the strategies
i tested with 4000 bars loaded daily and set testing to 2000 period bt and ft with DO turned off

attached are 2 pictures
1 of 1 strategy
another with all strategies
Attached file : wow1.jpg (345KB - 381 downloads)
Attached file : wow2.jpg (351KB - 290 downloads)

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Greg H

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Subject : RE: IM RICH!!! OR AM I?
Posted : 7/31/2011 6:58 AM
Post #24700 - In reply to #24699

removed

[Edited by Greg H on 7/31/2011 7:00 AM]

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megabucks

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Subject : RE: IM RICH!!! OR AM I?
Posted : 7/31/2011 9:10 AM
Post #24701 - In reply to #24700

Removed????

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Greg H

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Subject : RE: IM RICH!!! OR AM I?
Posted : 7/31/2011 10:58 AM
Post #24705 - In reply to #24701

I removed my own post because I was attempting some humor regarding the US debt issue and your phenomenal results that seem to not fit your post after thinking it through. Sorry for any misunderstanding.

[Edited by Greg H on 7/31/2011 11:13 AM]

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megabucks

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Subject : RE: IM RICH!!! OR AM I?
Posted : 11/25/2012 1:42 PM
Post #27465 - In reply to #24699

ive been working really hard like 16 hr days but when i can i have been studying hard.
ive been critised by a good friend of mine who i will not name,,but i respect a great deal.
he says i wont study and read books,,,may i say this is not a dig at him but a general comment to say im not one for reading at all.
im very much a practical person and looking on the forum and learning

i would like to say when i have the time i have been tweaking my strategies ive made and i think have good results.
ok as yet not run them thru SW

with this setup i would like to show you the screen prints and ask for advice or opinions or even input from experienced guys on here for there input
my next step is to make sure i am using the right indicators cos im a guy who likes to confirm him signals with indicators

so,,,,any one willing to help with there thoughts on my indicators and if i should use something they recommend or change something i have.

im a novice so want the expert input.

so far i get a signal on the vote line,,i like to see strength below or around 30 for the rsi
i like the short term sto (13,5,3) to be below 20
i like the longer term sto (100,5,3) again below 20
i like to see macd crossover below 0 line
and macd hist to cross over the 0

all this for a long position

i look for price to be lower the the short term fib indicator on side of the chart.
i pay attention to the 20ma for direction of price too
if i see a steep decline of the 20ma with abuy signal i must admit im cautious.

id like to have momentum direction trend etc on the chart so as i said any input of advice from experts would be welcomed

so far paper test results are good
Attached file : signals.jpg (455KB - 239 downloads)
Attached file : report.jpg (204KB - 203 downloads)
Attached file : position history.jpg (367KB - 214 downloads)
Attached file : portsim.jpg (345KB - 211 downloads)
Attached file : open positions.jpg (390KB - 232 downloads)

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julesrulesny

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Subject : RE: IM RICH!!! OR AM I?
Posted : 11/26/2012 12:16 PM
Post #27469 - In reply to #27465

Well, with trading - it takes alot of studying and practice. So, you say you are not one for reading. Well, unfortunately, with trading and investing its just part of the game. That is, lets say you want to read this morning's issue of the Financial Times - or your new subscription to TASC??! Follow? Reading is just part of the game.. Not necessarily reading to learn how to trade either..

If you can't read or won't read - whatever the reason.. Go to Youtube and watch the thousands of videos that people have posted for free. Which, I've heard you mention before. You have been given the tools.. its now up to you to do the rest.

Here are some answers or suggestions to your queries:.
(And, I would sincerely ask anyone else who's reading this to offer their
input - to see if I'm correct or giving him suitable advice or suggestions?)

Comment:
"im not one for reading at all.
im very much a practical person and looking on the forum and learning"

The Forum will only get you so far. It mostly discusses OT. And does not discuss certain elements of how to make you a better trader! If you are not one for "reading".. then I suggest maybe you make a feature request to Nirvana perhaps to add an "Audio" feature in the forums.. b/c these forums can have some rather vigours and extensive content that may take some time and patience to read.. not being critical. For someone such as yourself, who is not one for for reading books to learn how to trade - it would be very practical for someone like you to ask if there can be an audio or even video section within the forums that other users can post which may make it easier for you to interpret!!

Comment:
"I would like to say when i have the time i have been tweaking my strategies ive made and i think have good results.
ok as yet not run them thru SW"

Many OT users work very long hours. so your definitely not the only one. So when you do have the time, its rather imperative that you fine tune your strategies or system and run them thru SW.

However, your saying you have "Good results", correct?? Then, what's the problem? If you have faith in these good results, why are you on a search to continually try and improve them? Tho, it is human nature. but you have something here that very well seems to work - and you wanna fix it? .... Don't fix whats not broken!


1 - "my next step is to make sure i am using the right indicators cos im a guy who likes to confirm him signals with indicators"

How can ANYONE tell you if you are using the right indicators or not to confirm? I'm sure you know this, from what you have learned about trading - is that its subjective. It is literally and figuratively, IMPOSSIBLE to say if you are using the "right indicator". Because as I have read some other responses to you in the past, you have been given a resposne to this very same question you have posted in the past - if you get 10 people to respond telling you which "right indicator" to use.. your going to get 10 different responses!

You then went on to describe your system and what you do to take a trade.. There is NO issue with what you are doing. So, I'm really struggling to understand what advice you are seeking - maybe you should elaborate a little bit more? Otherwise, you don't even realize this.. your actually a pretty darn good "novice" trader. You understand what it takes to put a strategy together..and to use indicators to confirm..

From what I see, I see someone who is not confident in their approach. That you still do not understand certain elements of trading. It will be a very difficult road for you Jason if you don't teach yourself these concepts.
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julesrulesny

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Subject : RE: IM RICH!!! OR AM I?
Posted : 11/26/2012 12:18 PM
Post #27470 - In reply to #27465

For someone who chooses not to read books b/c you find it difficult to learn, you need to find other ways to help yourself then! Simple as that.. These forums are not here to "help you as a trader". They are here to help you learn or use OT properly.

You said - "I learn practically by doing". Ok, this is a reasonable solution to you not studying or reading books on learning how to trade. Basically, you are taking the most difficult approach. which is fine b/c in the long run it may make you a better trader. You will then have to do, what the previous "traders" and "authors" have done over the past 100 years.. that is to practice, test and find your own results by doing. see, a book or a seminar has already doen all this work for you. But being you want to learn practically by doing - this is on you to do then.. You should study the market movements, how they behave.. You can atleast read Ed Downs' book on the 7 Most Widley used Chart Patterns.. then practice entries and exits.. study the size of the candles and volume during different market movements, etc.

Learning practically is a bold move. And a gutsy one too. I give you alot of credit. As I took the easy way out by reading a bunch of books. But, I know you can do it. The ONLY other way you'll gain this confidence is by then paying a "trading coach" to help you.. Or by spending thousands of dollars on some seminars.

From what I see - you are using a perfectly, acceptable and reasoanble approach!!

Whoever told you to read those books, was right to a certain extent - perhaps he doesn't understand your personality as a trader. But, that's only on you to decide this. As it seems you are currently at some threshold where your very own perception of your system is negative. you do not feel your system is good enough, so you seek the advice of others. You are at a point where its do or die. Until you learn Chart Patterns, Trade Management, Volume, Candles, etc - this endless quest for the perfect strategy or confirmation indicator will be meaningless..

The only way for someone to "advise" you on this system you mentioned in your post - is to test it themselves!!! most other OT users in these forums do not have the time to take your system, your strategies, run a ToDo list.. then apply your indicators to see if they "Work" or "Not".

Again, what you are seeking does not exist. No one can tell you which indicators to use. I have seen you post this very question numerous times now in the forums - Its time you work on yourself instead. Trading is all about emotions, determination, confidence and perception. You have the will, you have the intelligence.. But your too afriad to use what you have created. Based on your results that you attached - there is literally NOTHING wrong with it.. it's impossible to say otherwise..

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Jim Dean

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Subject : RE: IM RICH!!! OR AM I?
Posted : 11/26/2012 12:28 PM
Post #27471 - In reply to #27470

It's like anything else. You will get out of it what you put into it.

It seems like you want/need personal tutoring but are not wanting to do homework. That means lots of personal tutoring.

That's expensive. VERY expensive. Five figures.

My advice - if you're not willing to dig in and study then give it up before you lose a whale of a lot of money.

No offense intended. It's a hard reality that 95% of those who "dabble" in trading, lose. I'm trying to help you avoid being a casualty.

[Edited by Jim Dean on 11/26/2012 12:30 PM]

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julesrulesny

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Subject : RE: IM RICH!!! OR AM I?
Posted : 11/26/2012 1:14 PM
Post #27472 - In reply to #27471

Thanks Jim! I wish I had the capability to write shorter, straight to the point emails.. instead of long, drawn out winded conclusions..lol. As that's basically what I wanted to say or have tried to convey!!

Good advice!!!
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megabucks

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Subject : RE: IM RICH!!! OR AM I?
Posted : 11/26/2012 2:45 PM
Post #27475 - In reply to #27471

Thank you Jim sincerely.

I'm driven for a few reasons to succeed.

May I ask don't you think 95% fail cos the smart money manipulate the markets?
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Jim Dean

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Subject : RE: IM RICH!!! OR AM I?
Posted : 11/26/2012 2:48 PM
Post #27476 - In reply to #27475

No

It's because they either are ill-suited by personality, or are underfunded, or are inadequately educated in trading - or a combination of the three.
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julesrulesny

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Subject : RE: IM RICH!!! OR AM I?
Posted : 11/26/2012 4:36 PM
Post #27477 - In reply to #27476

We all have our reasons to trade - our drive to succeed can very well define our ambitions and goals. But, we must guide ourselves in the right direction.

Some of us were lucky to have mentors.. In the short few months that someone was willing to guide me, I took full advantage of it.. he changed my entire outlook on trading. ironically, this advice you are constantly seeking, is being given to you - your just not listening b/c you want them to tell you which strategy to use, which indicator to use, etc and nothing else..

As this mentor told me. As Jim Dean told you - maybe trading isn't for you b/c you don't have the personality for it. and your only focused on a strategy and which indicators to use.. It's not an insult. It's just one of the things you have to consider - So, sit down, like I did.. and write down on a piece of paper what you need to learn, and your goals. and be realistic as to how you will learn and progress.. And don't just say "well, I need a strategy". LoL. You need to do alot more than that..

(And, if you don't know what you need to learn - do an internet search on the basics of trading and you start from there)

So ask yourself this - you are confident that reading books on how to trade is not going to help you. You don't have the money to spend on seminars. Nor can you afford a personal tutor. Ok, fine.. you want to learn by doing - Well, how's that working out for you???? It can only get you so far.

You have mentioned a few times - well, I need someone to tell me the next step to take. there are an infinite amount of directions or steps you can take.. this is where being disciplined and doing your "homework" becomes crucial in your development as a trader..

And these forums are not going to teach you how to trade - they are really nothing more than a tool to learn OT with some added benefit and insight into learning trading techniques.
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megabucks

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Subject : RE: IM RICH!!! OR AM I?
Posted : 12/1/2012 11:12 AM
Post #27503 - In reply to #24699

just an update for all

this past week been very busy with work cos its christmas.
if many didnt know i work as a courier(parcel delivery)
so as santa cant be bothered at the moment i have to step in and help out lol

any way

ive attched a picture of the trades ive made on paper.
however good they look i feel a little uncomfortable with my chart template.
i feel im missing some key points to consider but cant put my finger on it.
i would love to do a group thing where we input ideas and devise a set of rules and a chart template etc as an example so any future postings can be read by new traders and can been used as an example on what a trade plan looks like and what steps are need to consider making a trade on a symbol.
also you will bee my chart with the indicators ,,,if anyone has any suggestions on changing or adding anything to improve the chart analysis id love to hear.
would it help if i started a new thread with one blank chart and a strategy so we can as a group input from the start to develop this said example to others?

also

with my current system im thinking maybe of traffic light signals in ez setup
3 as in short medium and long term signals
similar to higher time frame confirmation
so if im looking for over sold sto then maybe 7,3,3, is short term and 20,3,3, is meduim term and 50,3,3, is long term.

so we get green box for short term over bought below 20
then when medium also shows green we know price is medium oversold and when we get 3 greens we have a drag race.

when in the drag race obv short term will go red when above 80 a few time as well as the medium term,.
but what we would look for first is the long term right hand square to be red then the middle medium square then the left square,,,so all reds is out of trade.like a count back of squares
but of course all this after initial consideration of the factors need to consider a trade that ive posted before.

problem is im not one for ez setup and the calcs.
i will give it a try but can any others help?

would a brand new thread make things clearer to start from scratch????



[Edited by megabucks on 12/1/2012 11:19 AM]

Attached file : chart.jpg (459KB - 243 downloads)
Attached file : portfolio update.jpg (473KB - 230 downloads)

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