HAMA PAD - A Simple Trading Approach - page 176
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Here is a demonstration trade results from yesterday sessions - October 24, 2007. I took these trades whenever I can and am in my trading cubby hole. Some of the trades were closed earlier than it should be, couple of losing trades and one at break-even. Please read notes on attachment below. Some trades were also executed on live account but were managed differently and were held longer, as they were not exercise trades, to maximize profit.
ENJOY!
fxcruiser
One thing that I am reminded of more and more with trading forex is that so much is NOT dependant on the indicators. I do love indicators and desire to have that extra support, but other areas like support and resistence points, identifying larger trends, being aware of the news of the day, and just being involved in the market are what will help filter out more of those false signals that the indicators might say to go in on.
The intangibles are what will make you as a good forex trader in the long run and these can't be taught but come through work and daily being involved in the forex market.
jesseboyIs this the same jesseboy?
You mean something like this, my Trading PAD - the Playing Field of the bulls and the bears. 
I will be adding more to the PAD screenshot later on, to show the kind of things you are referring to. Meanwhile,
ENJOY!
fxcruiser
Excellent points
One thing that I am reminded of more and more with trading forex is that so much is NOT dependant on the indicators. I do love indicators and desire to have that extra support, but other areas like support and resistence points, identifying larger trends, being aware of the news of the day, and just being involved in the market are what will help filter out more of those false signals that the indicators might say to go in on.
The intangibles are what will make you as a good forex trader in the long run and these can't be taught but come through work and daily being involved in the forex market.
jesseboyGreat post Jesse,
I do have something to add to that, but will do later.....
P.S. It was nice exchangeing ideas in the trading room. I totally enjoyed it, keep up the good work, to more pips, cheers
One thing that I am reminded of more and more with trading forex is that so much is NOT dependant on the indicators. I do love indicators and desire to have that extra support, but other areas like support and resistence points, identifying larger trends, being aware of the news of the day, and just being involved in the market are what will help filter out more of those false signals that the indicators might say to go in on.
The intangibles are what will make you as a good forex trader in the long run and these can't be taught but come through work and daily being involved in the forex market.
jesseboyjesseboy,
I tend to agree with you. However, the trading community has inundated the new and experienced traders alike with 1000's of indicators. More and more are being developed even here at TSD and other places for that one or more perfect fit custom indicators to bring the highest profitability. The quest for the non-existing holy grail continues.
Nonetheless, indicators, for beginning traders, are much like those training wheels when you first started learning to ride a bike. For intermediate traders, it becomes their crutch so they don't stumble down the path of price of actions. One becomes so dependent on it that even as an experienced/veteran traders, they need them, much like elderlies need their walker or cane walking stick, to move around the chart. I use them because I am just too lazy to draw those SR lines, etc. Bottomline is, indicators serve its purpose but like you said it should not be the only to thing to rely on and consider in trading. More later on....
ENJOY!
fxcruiser
on training wheels
While appreciating jesseboy's viewpoint, I must concur with EJ's comments which, I think, have application to both aspects of the forex situation -- the "larger picture" and the chart items.
Specifically -- just as a line of support on a chart can in an instant become a line of resistance ... so also can a "training wheel" in an instant become the only clue to what is actually going on.
Forex students and investors are hardly tipped off to market plans of the huge hedge funds, central banks, and other players. But at least we can see a key event on a chart without having to wade thru and decipher all manner of Forex "data" which is less than helpful to begin with.
Many times the "official" info released is like that in the little article attached -- that there is an "expected interest rate differential" which is claimed on that day to have a "70% probabilty" ... but ... [evidently] ... seemed to have only a "35% probability" two days before.
I am trying myself to learn lately more of the "larger picture" of things, and am appreciative of all the info on this thread.
HOWEVER ... I also watch the charts closely to see if they show a RED thing-ey or a GREEN thing-ey.
how wise would you all say it is to trade on sundays? Sunday late afternoon and night. Is it good to layoff trading on this day? What is your experience and advice tell you?
how wise would you all say it is to trade on sundays? Sunday late afternoon and night. Is it good to layoff trading on this day? What is your experience and advice tell you?
Sit back and relax. There is not enough tradeable range to make it worthwhile. Get some pizza (or your favorite food) and couple of beers (or your favorite drink). Savor the pips you made last week!
ENJOY!
fxcruiser
hello
HAMA Traders,
Indicators and template have been sent out to all who requested them via PM as of this posting. Please check your email inbox.
Thanks,
fxcruiserhello
could you please send me your indicators ..thank you for your kindness ...my email is : qndulahmed [at_sign] hotmail . com
thank you again
TRADING THE ZONES in THE ZONE -The Advanced Trading Game Plan for HAMA Traders
Here is how it was used on YM and other emini trades and forex today. I will comment more on this on later posts in this thread. The first screenshot is a YM chart on eSignal (provided by TonyA) showing the previous trading sessions activities and our play call for today. The second screenshot shows how YM was played today. All BEARS across the emini contracts. The plays were traderd live with scale in and scale out on multiple contracts. I am not posting actual ticks and points. You can figure those out.
ENJOY!
fxcruiser
hello
could you please send me your indicators ..thank you for your kindness ...my email is : qndulahmed [at_sign] hotmail . com
thank you againThe original HAMA PAD indicators and template is on post #22. Thank you for your interest.
ENJOY!
fxcruiser