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The Holy Grail - Found

  • #441
  • Edited 9:00pm Dec 28, 2007 8:29pm | Edited 9:00pm
Seems some people can't believe a method works that they themselves can't figure out. JohnW said His method was "Incredibly Simple" once the revelation of how it works kicks in. Just do a little Price analysis and watch your AH-HAHHH kick in.

Looks like indicatorless trading isn't for everyone, yet they continue to try and push them on others. I see it in thousands of posts as if they're a proven fact.

To you Newbie's, Indicators have cost people untold millions in losses in forex. (although they are pretty). Its one of the best WARNINGS I can give you. Learn how to trade without a crutch, its really not all that hard once you get the hang of it.
  • #442
  • Dec 28, 2007 8:54pm Dec 28, 2007 8:54pm
Mbqb11 - Clever avatar lol - Thnx
  • #443
  • Dec 29, 2007 8:33am Dec 29, 2007 8:33am
Quoting JFX81
Then why not post an account statement and blur the size of the trades if you don't want people aware of that part of things?

And why not post live calls?

If this thread is supposed to be educational it could serve people to see the method used in real time or as close to it as we can get.
What purpose would this serve? To prove something to you?

Do you post live calls of your trades? Have you posted your account statement? If not, then, by your own logic, why should anyone listen to you?

How many threads have live calls? Very few, since most know that's a fool's game. Either you're ignorant of this fact, or baiting a trap.

How many threads have "education in real time"? Please give us links -- all other threads must surely have them, otherwise you would get nothing else accomplished other than going around to all those threads asking for these measures of proof.

Why are you still here? You've expressed your difference of opinion on mentors/coaches/ebooks/paid methods many times, we really, really got your point.

If you really want to help, then start a thread about mentors/coaches/ebooks/purchased methods and prove which ones are good. That'll show JohnW what for!

If you don't want to help, then just go away.
  • #444
  • Dec 29, 2007 11:51am Dec 29, 2007 11:51am
Quoting blueruby
What purpose would this serve? To prove something to you?
Not at all really. The more posts the better right?
Quoting blueruby
Do you post live calls of your trades? Have you posted your account statement? If not, then, by your own logic, why should anyone listen to you?
I have done so many times in the past but fear that it doesn't serve the same purpose as it would for JohnW method followers to post here being that my strategies are much more discretionary than this "system"-like method.
Quoting blueruby
How many threads have live calls? Very few, since most know that's a fool's game. Either you're ignorant of this fact, or baiting a trap.
My take is that most threads don't have live calls because most people would find out that they lose.

Win, lose, or draw, I think live calls for this thread could be made and then studied to find flaws and strong points. A live call could let JohnW, if he were so inclined, to go back to his charts and see if a person is correctly or incorrectly utilizing his method. Any comments made about such trades could only serve to further clarify exactly what it is he is looking at.
Quoting blueruby
How many threads have "education in real time"? Please give us links -- all other threads must surely have them, otherwise you would get nothing else accomplished other than going around to all those threads asking for these measures of proof.
The more the better!
Quoting blueruby
Why are you still here? You've expressed your difference of opinion on mentors/coaches/ebooks/paid methods many times, we really, really got your point.
I am here(in this thread) to try to ascertain what is going on with the method and to see how people are employing it and what their subsequent results turn out to be. The more we learn about it the better off we all are.
Quoting blueruby
If you really want to help, then start a thread about mentors/coaches/ebooks/purchased methods and prove which ones are good. That'll show JohnW what for!
I fear I have come across in a manner in which I was trying to actually avoid. This isn't about proving someone wrong. I only hope for people to, like I said before, gain clarity. Nothing more, nothing less.
Quoting blueruby
If you don't want to help, then just go away.
By asking people to explain and post more in depth about what they are doing, we can all benefit.

Cheers
  • #445
  • Dec 29, 2007 12:15pm Dec 29, 2007 12:15pm
Quoting JFX81
I am here(in this thread) to try to ascertain what is going on with the method and to see how people are employing it and what their subsequent results turn out to be. The more we learn about it the better off we all are.
I fear I have come across in a manner in which I was trying to actually avoid. This isn't about proving someone wrong. I only hope for people to, like I said before, gain clarity. Nothing more, nothing less.

By asking people to explain and post more in depth about what they are doing, we can all benefit.

Cheers
Alright, well, if I've taken you the wrong way, I apologize. Posts don't always portray the tone or spirit in which something is said, so I should always give people the benefit of the doubt.

Anyway, the method is very easy to understand, it really can't be any simpler. Take 5 minutes to read it and look at a chart, and post a "live" call if you think that's what the thread needs!
  • #446
  • Dec 29, 2007 7:20pm Dec 29, 2007 7:20pm


Digression on some of forum entries.

Hold back from the need to rescue, save, or fix another person from trading bad, or trading in any dysfunctional, or irrational way.

Give another person "the space'' to be him or herself and trade any way they like especially when discussion relates to your contrarian preferences.

Be willing to accept that you cannot change or control neither traders or newbies.
screen action instead of price action
  • #447
  • Dec 31, 2007 4:09pm Dec 31, 2007 4:09pm
Quoting JohnW
Craig -

Like many, I spent years looking for something that worked. My method uses primarily S/R levels and long term trends. S/R levels are determined by swings and trend lines. As David suggests, I trade intraday. I typically find 2 -4 trade setups per day, and sometimes all are triggered, sometimes none. I enter on the 30M exclusively. I never look at anything under 30M. I have been successful on all the major pairs (the 6 majors & EUR/JPY - I don't trade the GBP/JPY).

The golden truth is that trading with multiple indicators is doom. Multiple time frames are important. That's why I highly recommend taking off all indicators except maybe (big maybe) one or two moving averages to measure bias. My trigger is based soley on price action. PA & S/R IS ALL YOU NEED (plus common sense, courage, patience, and an eye on fundamentals/news items).

You need courage to risk $$ (even my method has losses) and patience to wait for good setups. BTW, I NEVER EVER enter a market order (that's a clue). I use only stop orders.

When you look at a chart, do you need an indicator to tell you if its trending?

As I said in my post, reading many of the posts in this forum is great because they make you think. Take a look at any chart 30M or larger time frame. Ask yourself this: where will price NOT go? Why not? Where do you think the stop orders are?

I could lay out exactly what I do, but here's the problem: its accepted by most that 2 people given the same method will have very different results. The fact is that there is no substitute for thinking and discovering what works in trading. This forum has tons of resources (folks like James16) that taken in context are very useful.

So throw out all the elegant colorful indicators. Get used to a "naked" chart and trade (demo) off it. You will probably find after a few weeks that indicators hide more than they reveal and that they can only be useful as weak guides.

I am now attempting to train 2 people in this method. I train them in person with my live account up and running. I don't believe that truly successful traders should charge for a method (I am not charging my students), and if they are successful, I will consider making a .DOC file available for those on this forum who are interested. In teaching my 2 students, I will learn which concepts are grasped readily and which are difficult. They have no prior trading experience.
I just started reading this thread and wow, I wish I would have read this a couple months ago when I started.

When I began trading, I was doing just what JohnW suggested - not because I intuitively knew that this was the right way to trade, but because I was simply ignorant of and intimidated by all the different indicators. At the time I did not know about S/R levelsm HIs and LOs.

Looking back, what I did do was simply look at the different time frames from 1m on up to 1month and back down.

And you know what? I was successful at trading. I thought it was plain old beginner's dumb luck, but reading this thread has gotten be to think that maybe it wasn't dumb luck afterall. I am absolutely no genius and have had only a couple months of experience but when it comes down to it, I lost and lost big only when I traded off of indicators and systems that relied on indicators. I got so bogged down with indicators that at one time I had 8-10 at one time giving me alerts, buzzers and emails...

I've only read a few posts so far but wanted to comment on this. Take it for what it is worth.
  • #448
  • Edited 7:09pm Jan 1, 2008 6:32pm | Edited 7:09pm
Happy New Year and Happy Stress Free Trading

This is one of the few places in the Forex Factory where you can learn to trade stress free if you learn and use this method properly.

On another note:

I'm sure most of you are aware of the perfect head and shoulders forming on the G/J weekly chart, looks like a break of 219.00 could send it down 1000 pips on a right shoulder price projection.
For you folks that don't know, H/S's are great price predictors. This head and shoulders has taken over 1 year to form.
We've just seen one break in the eur/usd on the daily chart (have a look). That was a baby one, this one is 4 times bigger.

To you newbie's check out Interbankfx (forex *broker)

http://www.forexfactory.com/images/misc/progress.gif

  • #449
  • Edited 11:18pm Jan 1, 2008 10:57pm | Edited 11:18pm
Has a system been taught in this forum or is it more of a general dissucion?
Founder of Day Trading Forex Live
  • #450
  • Jan 2, 2008 7:13am Jan 2, 2008 7:13am
Quoting stersuhr
Has a system been taught in this forum or is it more of a general dissucion?

See post # 241.

T4K
  • #451
  • Jan 3, 2008 1:43pm Jan 3, 2008 1:43pm
The stop orders that John is reffering to are buy stops above a strong resistance level correct ? I'm just want some clarification here. Thanks,tex
  • #452
  • Jan 3, 2008 6:31pm Jan 3, 2008 6:31pm
Quoting tex123
The stop orders that John is reffering to are buy stops above a strong resistance level correct ? I'm just want some clarification here. Thanks,tex
Yes, OR sell stops below strong support.
  • #453
  • Edited 7:11pm Jan 3, 2008 6:38pm | Edited 7:11pm
Here's how I place a buy or sell stop:

1st) Determine the support or resistance line that connects the most "hits" over a 2-3 day period, each "hit" separated by 8 hours or so, (multiple hits are more effective over the span of a couple of days). Most of the hits will be within a couple of pips of eachother.

2nd) Look up the spread your *broker is charging for that pair. Next, add 2 pips to the spread, 3 or so, plus 2 = 5, now if you're using meta trader, open an order, click on "type' then on buy stop or sell stop (not limit). Next
type in the price, then select the expiry date.

3rd) Place your stop loss (30 pips) and your take profit (20 pips) then click place. All values can be easily changed if needed once they are placed.

Be sure to set the buy or sell stops and stoploss (30 pips) according to the RULES, if you deviate from them the method will not work. Breakouts are very high percentage plays if you don't get greedy. Most breakouts will only run for 20-30 pips before a retrace toward the break point (stop runners dump into the breakout).
  • #454
  • Jan 3, 2008 7:07pm Jan 3, 2008 7:07pm
Looks like a setup on the GBP/USD.

Daily trend down, bias down.

Several taps to the 9703 level. Gee, seems like yesterday a GBP cost over 2 bucks.

Ya know, if it breaks 9700, there's not much between price and 9650. If it breaks 9650, be sure not to miss that one, it should go a ways.
  • #455
  • Edited 10:38pm Jan 3, 2008 8:27pm | Edited 10:38pm
Hey Blue,

My exact thoughts, a break of 1.9700 will trigger lots of stops, maybe down to 9655 would be my exit, watching the first 20-30 pip drop. Be careful of fridays non-farm payroll at 8:30am est. you could get whipsawed
  • #456
  • Jan 4, 2008 1:42am Jan 4, 2008 1:42am
I had a sell stop at 9798, t/p 9778, the bid just hit 9773.

Would have scored, if I'd stayed in bed and not removed the trade.

It was a small position, I don't have enough faith in setting trades ahead of time, I like to watch PA as it unfolds and then decide to go in or not, that's just me. Sometimes it works out better to do that, sometimes not.

This time it would have just made it had I left it alone.
  • #457
  • Jan 4, 2008 6:05am Jan 4, 2008 6:05am
Well Blue, Looks like it doesn't pay to go to bed, price broke both ways for over 30 pips, stress free trades. I took the trade off also. We could have taken a shot of the trendline break (counter trend) I'm keeping an eye on those trades also. The counter trend trade went for over 70 pips.
  • #458
  • Jan 4, 2008 8:28am Jan 4, 2008 8:28am
Before hitting the sack placed a sstop on G/U @ 9697 with a tp @ 9677 for 20 pips and had bstop set @ 4770 on E/U with a tp @4780 (screwed up it should've been 4790) for 10 pips.
  • #459
  • Jan 4, 2008 9:23am Jan 4, 2008 9:23am
Nice plays ICED,

I just took a trade on nzd/usd trendline break on the 30 min chart (check it out) 10:15am est time fri. Totally stress free 20 pip trade.

Everyone needs to check back here often because we will be placing high percentage trades using JohnW's method...Don't miss out.
  • #460
  • Edited 10:56am Jan 4, 2008 9:29am | Edited 10:56am
Next Play I'm watching is a breakout of the 213.50 area on GBP/JPY . I'll
enter at 213.38 on a break of 213.50

(G/J is not a system play, but, will try it anyways. looks too good to pass up.

UPDATE: G/J dropped to 213.46 lowest I seen, then rocketed up 75 pips. That's why I like to give round #'s lots of breathing room.

Well, that's it for me on G/J today, bigboys have gone home for the weekend.
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