Baruch's Forex System Journal

[Baruch]

Quote from kiwi_trader:

Agreed re oandas charts. They could do with a lot of work.

What I did notice is that their prices are nicely aligned with futures prices (1min charts). Some of the other forex brokers prices seem to move very slowly, freeze or move out of alignment from time to time. One even jittered up and down 2-5 ticks at a very high rate - I couldnt figure that one at all.

Kiwi

Hi,

OK, but I like that Oanda only has a 2 pips spread in EUR/USD. And that you can trade with them the whole weekend.

 

[jrs3]

((But I "lost" 50 pips or more because I could not take the buy signal.))

Well sure if you were so lucky to have sold at the top of that move.

 

[jrs3]

I meant to post this chart.

 

[Baruch]

Quote from jrs3:

((But I "lost" 50 pips or more because I could not take the buy signal.))

Well sure if you were so lucky to have sold at the top of that move.

Hi,

Well, that was the profit when I wrote my post.

 

[Baruch]

Quote from jrs3:

I meant to post this chart.

Hi again,

Thanks. RSI looks nice. Which setting do you use?

 

[jrs3]

Default (14)

 

[Baruch]

Quote from jrs3:

Default (14)

OK. From a broker or chart service?

 

[Baruch]

When Bernard Baruch died in 1965, they found among his papers a memo to himself dated 1930:

PERSONAL EQUIPMENT

SELF-RELIANCE: Do your own thinking. Don't let your emotions enter into it. Keep out of any environment that may affect your acting on your reasion.

JUDGMENT: Consider all the facts - meditate on them. Don't let what you want to happen influence your judgment.

COURAGE: Don't overestimate the courage you will have if things go against you.

ALERTNESS: To discover any new facts that change the situation; or which may affect public opinion.

PRUDENCE: Be pliable or you wont be prudent. Become more humble as the market goes your way. It is not prudent to buy when you think the bottom has been reached. It is better to wait and see, and buy too late. It is not prudent to wait for the top of the market to sell - it is better to sell "too soon". (Never buy so that your margin will be less than 85, or hold if it drops below 80. In a particularly "clear sky" situation with(out) "buts" or "ifs", one can lower these margins to 80-75%).

PLIABILITY: Consider and reconsider the facts, and your opinions. Stubbornness as to opinions - "cockiness" - must be entirely eliminated. A determination to make a certain amount within a certain time absolutely destroys pliability. When you decide, act promtly - don't wait to see what the market will do.

 

[top_playa]

Hey, I just wanted to say hello and thank you your great thread!

Thank you for sharing your system, I've had alot of fun trying it.
I just used it to get short forex usd/cad from 1.3448. I know that you like to do eur/usd, but any thoughts on this usd/cad short setup would be appreciated!

Thanx Much!

TP

 

[top_playa]

I'm out of that trade, shoulda, woulda, coulda reversed. lost 20 pips, oh well.