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Thread: Terp's diary!

  1. #1
    Rookie Member Mathias Terp's Avatar

    Terp's diary! !!!

    Hello BOTS/CT! Soooo, i am making a diary ( No shit..). Well, i am a new trader from Denmark and i am not really sure about what i am doing, so help is very much appreciated! Laughing at my silly comments/trades/mistakes is perfectly fine, but please correct me. That would be a big help!!

    Soo, i currently use a Candlestick chart with EMA 99 and 200 i also have the [B]stochastic oscillator (5,3,3)[/B.. I am mainly focusing on S/R lines at the moment, but they are still rubbish The thing is that when i come home from work the price is slowing down..Alot! And looking at the price "live" is just diffrent than looking back at it.

    Winning Ratio: Using too many demos.. I will stick to Ayrex and fill this out from now on!
    Best Strategy: PUT - Sensei Okane is mainly doing PUTS so i will mostly do puts for now
    Best Asset: EUR/USD

    What is my goal?
    My goal is to make money that is probably the main reason for traiding. BUT there is a long road ahead of me and the making money part is my "last step"
    So until i feel confident in my trading i will stick to demos! - Well, i do have a real account so so i am a lying piece of sh*t! haha, but it is a very small amount and not a big deal if i lose them..
    I really want to learn to trade a naked chart and master S/R lines! I am ONLY focusing on EUR/USD for now - i don't even know what the other pairs looks like haha!

    I hope this introduction was okay if not please make me aware of needs etc.

    My setup: Click image for larger version. 

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    Current indicators - Stochastic oscillator (5,3,3) EMA 99, 200
    Last edited by Mathias Terp; 03-08-2016 at 06:33 PM.

  2. #2
    Legendry Member Michael Hodges's Avatar
    Good luck and keep us posted. First, show us a chart with your set up and what kind of signals you are going for.

    My first thoughts from what you have said is that you should reset your stochastic to standard and add a 20 or 30 day ema. I think your stochastic is too fast to be effective and the ma's are too long to give timely signals for binary... I could be wrong. ;-)

  3. Thanks Mathias Terp thanked this post
  4. #3
    Rookie Member Mathias Terp's Avatar
    Quote Originally Posted by Michael Hodges View Post
    Good luck and keep us posted. First, show us a chart with your set up and what kind of signals you are going for.
    I will do that straight away!



    Quote Originally Posted by Michael Hodges View Post
    My first thoughts from what you have said is that you should reset your stochastic to standard and add a 20 or 30 day ema. I think your stochastic is too fast to be effective and the ma's are too long to give timely signals for binary... I could be wrong. ;-)
    Interesting.. Pretty sure i use the same setup as Okane but i am not sure.. I will consider changing my stochastic as you suggested! Thanks for the imput!

  5. #4
    Rookie Member Mathias Terp's Avatar


    Why did i take this trade?

    I took this trade because there was 2 good suports after a very bearish trend on 5 min TF and stoch was very close to being oversold. So i jumped in on the third touch with a 5 min CALL trade.


    Was this a good trade?
    Well.. No i don't think so, this was the first thing i saw when i came home, so i just kinda jumped in on it and it was really sketchy i think

  6. #5
    Rookie Member Mathias Terp's Avatar
    Click image for larger version. 

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    Why did i take this trade?
    I took this trade because there was 2 good suports after a very bearish trend and it was nearly oversold on stoch so i jumped in on the third touch.


    Was this a good decision?
    Not really.. Diden't feel safe doing this since it wasen't all the way oversold.

  7. #6
    Legendry Member Okane's Avatar
    Hey, glad you listened and opened a diary.
    The EMA 99 and 200 are good because we are using them to confirm our strong S/R lines .

    Michael is not wrong either but what he says about lower EMA's are true but for trading crossovers
    and other trading techniques. For what I have taught you, EMA 99 and 200 are better and they do
    give "signals" (meaning help confirm S/R lines on a daily basis) so you can keep those.
    As for Stochastic, as far as I know 5, 3 ,3 are standard. At least that's what I use.

    BTW, try lightshot, free and light program for taking printscreens, easy to use too.
    And always save screens as JPEG and then upload here!
    Live Webinar: Hidden Content
    Join My Skype Group: Hidden Content

  8. #7
    Rookie Member Mathias Terp's Avatar
    Ah good.. I will keep this setup for now then! I appreciate the imputs!

    Will do, thanks!

  9. #8
    Legendry Member Michael Hodges's Avatar
    Yeah, ,I use a slow stochastic, the %k is the same but %D is smoothed a little, the signals are just about the same but like I said, %D is smoothed, I think it just comes down to preference.

    the EMA's, Okane is right as usual. his settings are good for support resistancees, my settings are good for crossovers. together those two settings are super duper good for crossovers and support resistances, trend and etc. Again it comes down to preferences. For me, I stick to a 30 bar ema and use it on different time frames... for instance on the daily chart it is a short term 30 day ema, on the weekly chart it becomes a longer term 150 day ema.... I could use a 30 and a 150 on the daily charts to get the same analysis,

  10. Thanks Okane thanked this post
  11. #9
    Rookie Member Mathias Terp's Avatar
    So rude of e not to respond, sorry about that! I apriciate all that you guys here on the forum do for us!

  12. #10
    Rookie Member Mathias Terp's Avatar

    Back at it again with the... NO. !!!

    Soo i am going to try this again, this time i got a little more experience, but since i have been trading all by myself, all my mistakes have probably become bad habbits, yay, so hopefully some of you guys will once again help me figure this whole trading thing out..

    What have changed since i started this diary?
    - I am now trading on an almost naked chart, the onlt indicator i use, is stochastic (5,3,3) and EMA 6.
    - I blew a 250$ account, so thats great. So now i am just demoing, until i get completely comfortable with my strategy!
    - I am curently trading W and M patterns (Picture below)


    Click image for larger version. 

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    This is an example of a W setup, but i fail to see when there is a strong setup and a weak setup, this trade was not live, so it is really easy for me to sit here and say it would of been a win, but 5 pips don't feel like enough. The idea with this strategy is that i look for W or M formations, and i trade on the second candle in the 4th "wave" ( The blue line in the picture). Backtesting this it seems that there are an actual pattern and price often respect these W or M formations, but i am not sure how to spot the best setups..
    Attached Thumbnails Attached Thumbnails W - trade WIN.jpg  
    Last edited by Mathias Terp; 07-11-2016 at 07:11 PM.

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