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Perrys Trading Platform
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Perrys Trading Platform

  #361 (permalink)
Elite Member
Sydney, Australia
 
Futures Experience: Beginner
Platform: MT4
Broker/Data: Go Markets
Favorite Futures: Forex plus FTSE DAX and ASX200
 
grego's Avatar
 
Posts: 177 since Jun 2010
Thanks: 139 given, 76 received

Hey, i actually got one right using method 2
Please confirm my entry was ok?



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  #362 (permalink)
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Rechovot
 
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grego View Post
Five from five! Failures that is

Please comments and feed back appreciated


Attachment 17712

Here I have attached my remarks to your charts. You are not following the simple rules. Each trade was a winner.

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Perrys Trading Platform-grego.png  
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  #363 (permalink)
Elite Member
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Futures Experience: Beginner
Platform: MT4
Broker/Data: Go Markets
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grego's Avatar
 
Posts: 177 since Jun 2010
Thanks: 139 given, 76 received


Thank you Perry

So I can only use the FIRST set up bar in any change of trend?

In other words watch for a change of colour in the EMA 20 and then enter ONLY after the first set up bar?


Last edited by grego; July 30th, 2010 at 06:21 AM. Reason: added question
 
  #364 (permalink)
Elite Member
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grego View Post
Thank you Perry

So I can only use the FIRST set up bar in any change of trend?

In other words watch for a change of colour in the EMA 20 and then enter ONLY after the first set up bar?

Grego,

Please go back and read carefull the methodology. It has nothing to do with the change of color of the the 20EMA, and it has nothing to do with ONLY enter after first setup bar. There are very very simple rules. If you follow them you will succeed, so I suggest at least read and learn the RULES, and if possible go over the whole thread as I have given so many examples and explanations that will benfit you.

 
  #365 (permalink)
Elite Member
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Futures Experience: Beginner
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Broker/Data: Go Markets
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grego's Avatar
 
Posts: 177 since Jun 2010
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perryg View Post
Grego,

Please go back and read carefull the methodology. It has nothing to do with the change of color of the the 20EMA, and it has nothing to do with ONLY enter after first setup bar. There are very very simple rules. If you follow them you will succeed, so I suggest at least read and learn the RULES, and if possible go over the whole thread as I have given so many examples and explanations that will benfit you.

Hi Perry

I have read the whole thread twice which is great, so possibly I misunderstand
I am pretty sure that all of the charts that I have put up have valid Entry bars shown, but ended up in the red.
They were just not necessairily the first set up bar which may have given me more chance of a winner.

You referrred to the entry bar on my chart as
Quoting 
Here I have attached my remarks to your charts. You are not following the simple rules. Each trade was a winner.

Please, I am just trying to understand ,as I considered i had picked valid set up bars.
Yes they were not as early in the trend as the bar you referred to but they were valid entry bars ... yes?


I note in earlier posts (where people have asked for clarification)
that you give chart examples of multiple setup bars within a down/up trend and
there fore I considered that I was following the set of rules and it was a valid entry??

The reference to the colour change of the EMA 20 was only highlighted in the thread to suggest that i was possibly not entering on the FIRST set up bar and i had somehow misinterpreted the "rules"

Please confirm that it was a valid set up bar?

Thank you for your patience and encouragement with your replies.
It must be frustrating to get the same question asked in different ways by us newbies

Cheers Greg


Last edited by grego; July 30th, 2010 at 07:27 AM. Reason: added text
 
  #366 (permalink)
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grego View Post
Hi Perry

I have read the whole thread twice which is great, so possibly I misunderstand
I am pretty sure that all of the charts that I have put up have valid Entry bars shown, but ended up in the red.
They were just not necessairily the first set up bar which may have given me more chance of a winner.

You referrred to the entry bar on my chart as Please, I am just trying to understand ,as I considered i had picked valid set up bars.
Yes they were not as early in the trend as the bar you referred to but they were valid entry bars ... yes?


I note in earlier posts (where people have asked for clarification)
that you give chart examples of multiple setup bars within a down/up trend and
there fore I considered that I was following the set of rules and it was a valid entry??

The reference to the colour change of the EMA 20 was only highlighted in the thread to suggest that i was possibly not entering on the FIRST set up bar and i had somehow misinterpreted the "rules"

Please confirm that it was a valid set up bar?

Thank you for your patience and encouragement with your replies.
It must be frustrating to get the same question asked in different ways by us newbies

Cheers Greg

Greg,

Trading Real Time is not the same as looking at a chart in retrospect. In RT you do NOT KNOW how the market will react, so that if the first setup is in place YOU TAKE IT, you do NOT wait. If the trend is short you will be in and out of the trade, and if it starts a long long trend, then there are second and third takes, BUT THIS WE DO NOT KNOW IN ADVANCE. Secondly you must MANAGE your trades. I saw your entries, and and you had at least 4-5 ticks profit, but instead of taking the profit you let it reverse and stop you out.

Try setting up an ATM strategy, that will take profit after 4-ticks. Practice this way with 1 contact. Then startout with 2 contracts and take profit on 1 contract after 4 ticks, move SL to BE, then let the 2 contract run. Manage the second contract by moving your SL as it takes profit.

I hope this will help you.

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  #367 (permalink)
Elite Member
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Futures Experience: Beginner
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Posts: 177 since Jun 2010
Thanks: 139 given, 76 received

Hi Perry

Thanks for the encouragement

I am probably taking too big a step too early on
...crawl before i walk perhaps?

I will do what you suggest and take that early profit
... as it has no doubt been said many times
"you can't go broke taking a profit"
Regards
Greg

 
  #368 (permalink)
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grego View Post
Thank you

Is that above comment based on what you have noticed from my charts or just a general (good) piece of advice?

Cause the settings I am using at the moment are ones that Perry mentions in an earlier thread where he gives a screen shot but i notice he also has suggested a tighter stop just 2 ticks below/above the set up bar

So I amnot sure whether i am expecting too much profit from a trade

Cheers
Greg


Greg,

My MM comment was based on your charts where I see, had you entered on the correct signal bar, there was profit to be made or at the very least break-even trade. Hence I suggested, for the instrument you are trading, spend some time to identify all the winning trades and the average ticks profit to come up with trading rules that will work for you. It is a personal choice.

Hope that clarifies my comments earlier.

gulab

 
  #369 (permalink)
Elite Member
Dallas, TX
 
Futures Experience: Beginner
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Broker/Data: Zen-Fire
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Posts: 284 since May 2010
Thanks: 159 given, 155 received


grego View Post
So what you are saying is that by putting the entry that 1 tick above the highest hi of the 5 bars ,
its actually preventing you from entering a trade that may not breach that previous high bar ??

Yes those are the rules of Perry's trading method. Trading price action.

 
  #370 (permalink)
Elite Member
Sydney, Australia
 
Futures Experience: Beginner
Platform: MT4
Broker/Data: Go Markets
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grego's Avatar
 
Posts: 177 since Jun 2010
Thanks: 139 given, 76 received



Quoting 
My MM comment was based on your charts where I see, had you entered on the correct signal bar, there was profit to be made or at the very least break-even trade. Hence I suggested, for the instrument you are trading, spend some time to identify all the winning trades and the average ticks profit to come up with trading rules that will work for you. It is a personal choice.

Hope that clarifies my comments earlier.

You know i had never looked at it that way ie: identifying average winner and setting Money management to reflect it. Up until now i have read threads about specific trading systems and it always seemed that the arbitary MM was ....set your Profit target X number of ticks and your stop at Y number of ticks for this or that system

So really I should look at it, as to how many ticks profit I can get out of a specific entry criteria and work back from there.

in other words just because you can get x number of ticks out of a trade doesn't mean I will

Cheers Greg


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