[wanelad]

Until there is a break out of the daily range you will be whipped in and out. I would not trade at this point of time. I really think this is why Alex has not been around as much. Sometimes just dont trade, use the demo if feel you need to then once breaks out one way or the other trade then.

This of course is just my opinion

[wilsonch]

wanelad, i think you have misunderstood why Alex isn't around. ProFX comes out as a technical analysis tool. Although there is some fundamental involved, such as 'no trading when there is news around'. But in overall, there is no reason not to trade. I guess Alex should be just busy with his things, he probably will respond to all these questions when he is available.

I totally understand many of you would like to increase the probability by looking into the fundamental aspect. But this would divert from the origin of this system. What I personally looking for is a trading system with completed and clear trading plan. No emotional, no question, no doubt while trading. As many have discussed before, I'm too looking for the clear formula to enter trades and exit trades.

[wanelad]

Wil I think you have missed most of what I have said; as I have emphasized it is clearly a T/A tool and apart from staying clear of announcements it has nothing to do with fundamental analysis.

I am not that sure I have misinterpreted of why Alex is not around, but each to their own on that one

[wilsonch]

Wil I think you have missed most of what I have said too. I'm not saying you didn't emphasize or what, I was expressing my view to the others.

"Until there is a break out of the daily range you will be whipped in and out. I would not trade at this point of time. I really think this is why Alex has not been around as much." (quoted from wanelad)

Not trying to be offensive here. But since you have raised up this point, and at the same time Alex hasn't been turned up for quite some time. I sense some misleading factor here, as you are trying to say the reason why Alex did not turn up and did not put up any trade calls is related to yours. Well, nothing personal. Guess we better just focus in how to trade ProFX better by staying in the 'circle'.

[wanelad]

Wilson Alex is most likely not trading as he is following the rules eg not to trade in ranging times

Not sure if you just missed reading that bit or choosing to ignore it (not to trade ranges), thus he is probably having a nice time somewhere while you guys get whipsawed.

Think about it a little Wil why make calls if they are going to get whipped? you have the rules, I am no expert at all in this program however stands to reason of why most are taking losses at this point.



The rules are there he doesnt need to be here if there are no trades to be taking, I could be wrong but that is my call on it.

[piptaker]

Does the manual discuss not trading when the price is ranging? Normally you can't spot a range until you've made a few attempts to trade and then realize those losses were due to it being in a range. Just the same as if you wait for the price to breakout, you'll probably miss out on a successful trade because you don't know if it's breaking out or just testing the range. Sure we call all sit back and use support and resistance as our guide. But that kind of defeats the point of a so called mechanical system. Anyone can look back at the past few hours and see the range and avoid trading it. Or just trade within it. So what's my point? I don't know. LOL

[wilsonch]

Yup, I'm a freshman as well. Same thought as piptaker. As always, this thread is open for more suggestions.

As with many others here, I'm no expert in identifying the ranging period. What I do is merely follow the instructions in manual, and put in my trade of day when i see confirmed signal. Sure we got whipped alot, that's why we are in this thread to discuss any more method to improve our trading plan, so we can immitate to Alex performance.


Regards.

[DaveC]

Originally Posted by piptaker

Does the manual discuss not trading when the price is ranging? Normally you can't spot a range until you've made a few attempts to trade and then realize those losses were due to it being in a range. Just the same as if you wait for the price to breakout, you'll probably miss out on a successful trade because you don't know if it's breaking out or just testing the range. Sure we call all sit back and use support and resistance as our guide. But that kind of defeats the point of a so called mechanical system. Anyone can look back at the past few hours and see the range and avoid trading it. Or just trade within it. So what's my point? I don't know. LOL

Alex made a comment in a previous post that range bound PA is one of the reasons he only takes one trade per day. therefore if his first trade catches the start of the breakout great, if not then it's one day's loss.

It would appear that Alex works on the probability that eventually he will catch the new trend and when he does it will recoup any one day losses while trying to catch the breakout.

[DaveC]

I know i was the one who earlier suggested we try keep to topic, so apologies in advance.

If you look at the daily chart for cable it would appear to be in a bear flag and as it looks currently, winding into a narrowing wedge, which should break out some time soon, hopefully...................

[kamalia]

no i dont think so..
going strong up