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Forex Junction
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cashiertan
Elite |
01-Jul-2008 19:32
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lol ipunter u never failed to amused me with your jokes, i believe u mean gobbling pits all this while. Forex trading is not your cup of tea, trading 20 yrs and still not rich is a damn farnie to me. real trader dun need 20 years and still trying. your jokes are damn farnie just like your life.. |
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CWQuah
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01-Jul-2008 11:40
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Techsys, Great contributions! Just love the way you demystify the forex markets :-). |
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techsys
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01-Jul-2008 11:35
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And for today last article, I will show you how market work. Actually, every pair has their own beat. Pattern that we can consider before we trade. Just like what I tell you before, to earn up to 30 pips, it will be easy, but if you want to earn more than 30 pips, you need to be very good in observing the market. 
Using Stochastic(50), you can see market condition for USDJPY. Observe the pattern, and you can see when to get in. (Warning, this is not trading strategy, but market movement understanding). This is the core of stochatic, we believe that market moves in a range. After a range it's always a consolidation. The position of consolidation will tell you where the market probably will be going to .. |
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techsys
Master |
01-Jul-2008 11:26
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Just like my last post, I told that we can identify market direction using stochastic. When market move in range, stochastic will show you good signal in about when to buy and sell. But if market is trending, stochastic will give you narrowed signal. For illustration, you can observe this picture bellow. 
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techsys
Master |
01-Jul-2008 11:16
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Hi CashierTan, thanks for your concern. I will be very careful. Honestly I have respect to you. Because someone like you, balance is mantained.  Thanks a lot CashierTan.
Here is the next article about stochastic. I give you some illustration about how % K is created. We choose Stochastic(14). So we look at 14 last candle. We get the highest and lowest and within this bar, current price will be the value for %K. 
There are another smooth Stochastic, but the technique is still the same. |
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iPunter
Supreme |
30-Jun-2008 22:17
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Scotty... :) You are right. The market needs our attention more than other things when we are in it.... 
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iPunter
Supreme |
30-Jun-2008 22:04
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All this while, I've been gobbling pips when CashierTan thinks I'm not trading.. hehehe... |
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scotty
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30-Jun-2008 20:56
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Don't argue ..... relax and take it easy. Live and let live. Stock market already very stressful. |
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cashiertan
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30-Jun-2008 19:09
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last thing, you freaking keep asking ppl to buy different ebooks. do u actually buy it urself before recommending? i serious doubt so. in fact if u have any real skills in trading , i have yet to see u post any trades that is credible enough. in fact i have areadi revealed that your so call 100+ pips from trading usdjpy is a hoax. i have posted to various forumers whom i trusted abt it and they agree u are just a liar. sad to say twenty years seem like wasted times to me. (if u really have twenty years) |
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cashiertan
Elite |
30-Jun-2008 19:05
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ipunter, i am never angry with techsys nor his niece making big bucks in forex. forex is that easy if u are the right type of person with the right system tools. In fact his young niece whether prove what i said is correct that in trading it doesnt matter if u have 20 yrs of commodities trading or whatever shit u have, a young guy like me and a younger girl has proven to pawn your trading anytime now. Your twenty + years of trading exp and philosophy doesnt prove any value to me at all nor your ebooks. So yeah i dun think u are good enough to make me think abt what u suggest or post in forums. Techsys, All i can say is that becareful of especially" polite and "nice ppl. most of the time these ppl are smiling backstabber. thou i am young but i have seen enough of politics and human manipulations from the workings in foreign Banks. before u know it, someone areadi make use of you and when u have of no use to him. good bye to u. next, all i can say is that you have prove to have the "form" of trading but not the real substances of it yet. In fact I can know lesser abt techincal indicators than anyone here and yet abt to trade better. it is not how much u know but what u know abt trading. www.babypips.com and www,stockcharts.com are two website made for easy learning even for noobies. especially babypips. really train u from baby to university grads forex trader. haiz i really cant stand balls carrier. they exist in office and now in forums. some ppl twenty years of balls carrying habit hard to die.. |
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iPunter
Supreme |
30-Jun-2008 18:36
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Frankly speaking, that post contains such valuable insight that it is easily worth to pay $4k to Techsys!. |
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techsys
Master |
30-Jun-2008 13:00
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Thanks IPunter, you are my friend like others too. I believe everybody is important, so your contribution will have benefitted someone. I'm feeling well today, and it allows me to write something. Here, it is Stochastic MindSet, The theory of stochastic was created first time in response to repetitive probability in statistic data. Because of it's created by statistical, stochastic is the first indicator that can cover almost 75% market behaviour. Stochastic is used to indicate price pressure/momentum. Stochastic believe that market is always in consolidation mode and this means market always has a range. Let we see Stochastic formula. In the appearance, Stochastic has 2 lines, %K, %D. Stochastic has 1 main parameter, n, that is a number for how many candlestick we want to consider as in trading range. We usually put 14, as in the old day people think of 2 weeks was long enough to get rid sentiment out. So people did use 14 as meant for 14 days. The point of this explanation, when we want to use stochastic, we need to be able to find out how many candle stick that we can effectively consider as a valid range. This is the reason why I said, different chart will have different parameters. For stock, you can still use 14 days for stochastic, but for option and future, you can't. For forex, you need to be able find out its trading range before make a stochastic's setup. Next about %K. %K actually is an oscilator. It's formulated as two part. Using N as your trading range on chart so you will need to find out the highest and the lowest price a long the n candlestick behind from the current one. For example, we choose 14 as the N, so we look at the 14 last candle stick. Find out the highest within them, for instance 200. We find out the lowest within them, for instance we have 100. To produce %K we need to find percentage of current price in that range. For example current price is 130, the formula will be %K = (Current Price - Lowest Price) / (Highest Price - Lowest Price) %K = (130 - 100) / (200 - 100) %K = 30 / 100 = 0.30 (in percentage we multiply it by 100 so we have 30%) What is %K telling us? This %K is telling about market price is move up arround 30%, and telling us that we still have 70% room to grow if we buy. %D was create to telling use about trend, it uses the same formula just like MA (Moveing Average). If you haven't know what MA is meant to be, I tell you now that MA is a trend indicator. The formula for MA is simple, just do averaging the last n data and devide them by n. This is for Simple Moveing Average (SMA). %D = 3 SMA for (%K). This means you find out 2 %K from previous candle stick, add with current %K, then you devide it by 3. Completing %K and %D, now we can make the rule:
Rules I mentioned above are available if market keeps moving in a range. If market is trending, this indicator will be a disaster. But fortunately, stochastic can tell us when we are in the beginning of trend. In stochastic, when market is moving to a trend, you will have stochastic moves narrower, otherwize if market is forming a range. So, what is Stochastic Mindset? It's simple. In trading:
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iPunter
Supreme |
30-Jun-2008 10:50
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Techsys... :) |
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techsys
Master |
30-Jun-2008 10:44
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This thread is getting hot again. :) If I may, I will share with all of you about Trading Mindset. Since I have psychology degree, probably I can share some information about how we, personally myself, learn stuffs. I agree with CashierTan about free TA material in internet. But, I didn't learn from there. The reason is, at the first place, I didn't understand what TA is. That was why I went to some courses, I needed guidance from others. We are human can understand easier from others explanation. Even though the lesson is only introduction, we can digest it more effective rather than we learn by self. Because we need reassurance/confirmation about what we learn is a correct thing or not. I call this introduction lesson as a trigger. Some people can't understand after some courses but there are some geniuses, who understand only by 1 course. So our learning curve, we need trigger to get basic/fundamental mindset. Once we have the mindset, we will be able to learn/discover everything by ourselves. And finally we can trade or formulating our trade Btw, I'm not a genius, however :). I went through some courses before finally I can see how market moves. I call it as market structure. Once I can see market, we can finally do research by ourself by using websites you mentioned. Trading courses are indeed very expensive. I think most of us have attend it at least once. Even now, I'm still buy some books or e-books that I think probably are probably offering something new. For example, I learn a lot from EA products that are offered in internet. When I look at their trade's record, I try to absorb the idea. If I get nothing, at least I know how people think about profiting in this market. I'm respecting your trading experiance, CashierTan, that's why we are here to provide knowledge and to be a trigger for each others who want to have or improve their perspective. So we all can be a better trader.
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iPunter
Supreme |
30-Jun-2008 08:00
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And by the way, I spend my money any way I like... |
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iPunter
Supreme |
30-Jun-2008 07:57
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Hahaha... |
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baseerahmed
Master |
30-Jun-2008 07:46
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cashiertan
Elite |
30-Jun-2008 07:23
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Many will think i am arrogant with below postings however many who will read and understand what i posting will really benefits from it. sad to hear u (many) paid so much yet you (many) didnt learn much from trading.. i wonder is the courses or is the person? i wont be personal on ipunter this time as i want all to ponder over it. is it you or the system cant make it? my trading system is so simple that i dun need more than 5 indicators including MAs and also never do i need more than 10 secs to decide if i wanted to enter or exit each chart, any type of trading vehicles chart. i only attended 3 courses and ebooks purchased total costing me less than 2k usd in total with my 1st one cost me usd 1,500. my 2nd and 3rd cost me less than 500 usd on total. and ebooks less than usd100. in fact my 1st course, 1,500usd cost teacher told me, if u want to learn TA basic plz go to stockcharts.com chart school to learn basic TA terms and candle sticks.. I was like OMG but now i understand why... we dun pay him 1,500 to learn candlesticks when u can learn it for free at websites. we pay so much is to learn his system. however at my current stages i find even learning his system not that great after all as u move to higher stages of trading. I got most of my TA skill from free source in fact WWW.stockcharts.com and www.babypips.com No need to listen to non-pro traders tell u to buy crappy ebboks which he himself doesnt even own one. Whats the point of paying money for course or ebooks when u cant even master what is free? At the young age of 29 i have lost till i almost become bankrupt twice but always make a come back with makings more than i lost the previous time. each time i come back i learn more abt myself and trading. sad to say many trade so many years and lose so many times liao still dun learn. Trading is always about self awareness and understanding of the vehicles u going to trade. if u cant even know yourself , how the hell are u going to make $ from trading. all i can say abt trading is one needs to have the determination and the suitable type of characters to trade. if u dun have both of it, den it is better u dun trade just do what warren buffet recommended, DCA on indexs ETF. |
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iPunter
Supreme |
29-Jun-2008 12:37
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I myself have attended a couple of $4,000 courses, but find them only partially fulfilling my needs...
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iPunter
Supreme |
28-Jun-2008 23:54
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For supplemental forex education, including for those who have attended $4,000 forex courses,
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