Originally Posted by ericbach

Hey Simba,

For your info, take a look at the xpma ver.6 set to indicator 7(JMA) set to period 13.
This is the JMA indicator. Found it gives sometimes an earlier and clearer signal then the SATL indicator.
Will be using this signal instead of SATL to determine when trend will change. Will let you know how it works out.

Originally Posted by Malcik

NOTE: Another long post by me, nothing connected with SimbaSystem, its rules or anything else, just my feelings, my situation, my thoughts and questions regarding the philosophy of and approach to trading. If you are not interested, just skip this post and save your time

Hi Simba,

Thanks for your great posts. First to the one directed at Pippt:

It is great that you shared with us your thoughts about trading. I'm getting to similar conclusions. Not that I'm mature enough to be able to feel the market and do trading as art, I'm definitely not. I've just been able to begin to grasp the idea that this "art" philosophy of trading is where the real money is to be made...
Yes,it is but you have to start mechanical until everything click,and it takes years..
Unfortunately, there are a few limitations. I still have to go to school. At age of 20 it wouldn't be wise for me to drop out of college and rely on trading as my job for my entire life. I definitely want to trade my whole life, still I want to have my college degree finished and go to regular job. Let's be honest, by trading we are not really helping anyone, at least not in a way that we could see, touch etc. Yes, we are contributing to liquidity in the markets, we work as insurance companies, we are part of markets, and with no markets not very many things could work the way they do in everyone's everyday lives. And the discipline, risk, capital etc. are things we have to be able to bear and the possible extreme financial reward is therefore fair. This job is just not for everyone, only for the best. Furthermore, we can do charity stuff, which is definitely what I intend to do the minute I do my first withdrawal from my trading account, if there ever is some significant leftover profit to be withdrawn. I believe this is my destiny. Still I'd like to see myself going to regular job, to meet people, to see them getting better thanks to me, to make a tangible difference in the world. I study economics and that could by the way very well go together with the charity stuff - people in the world are starving because of simple economic and social reasons. There's nothing more to it.
Why I'm writing this? Because this is the reason for which I have to be the "EA guy". During trading hours I'm at school and at night I like to sleep. EA is the only way I can trade. Position entries are not for me because I, as a student, don't have enough capital for them. Second, I, at least while learning, like to see some partial results (good or bad) in days or weeks, not in months or, more likely, years. For those reasons, my idea was to study market cycles theory based on the books you told us about. I'd like to be able to do the art NOT of trading itself BUT of designing different indicators and EA's at different times, reading the daily and H4 charts, and determining what EA to use this month, what next month etc., and perhaps also to which sides to take the trades to (long/short only). Simply said, I'd like to be a good artist reading the weekly and monthly situations in the markets, determining the right methodology of trading during those times, and let the computer do the minute-to-minute work.
The reason is nothing else than the college. What would you do if you were me, Simba?
Go to college Malcik,I have a degree in economics with an MBA(1984),before trading full time I worked for a financial company as financial assistant manager and then I worked for a consumer electronics multinational company first as product manager then as marketing manager,approx 8 years after getting my MBA I started to trade full time(1992,right with George Soros demise of cable,I made a bundle just because I was short cable..by sma crossover no less..and "Georgie" thought it was a fundamental sell.. I lost it all in a few years),after this I created,with one partner, an import export company(1996) -while trading "part time",mainly spanish and european stocks-of which I am still the CEO(though I am only a "Friday" CEO(and majority stakeholder..it helps ),since 1998 I trade full time and I have to tell you that between 1992 and 1998 I blowed 2 accounts-the mark of the great trader -Then the pieces clicked and instead of financing my "trading habit" with my business profits,I started having two business sources of income,actually,though I am still the CEO(my partner is the President and COO and his salary is 5 times higher than mine..it helps too),my only real job in my company is covering the currency exchange risk(2 hours per week) and dining and wining "big" customers and suppliers..usually on Friday,which,as you must have already imagined , I do not "suffer" doing..so,it is absolutely important to have a real life......And ,sorry to tell it as it is,you will lose your first,and probably second account,so,start light,get a life,part-time trade,and when the pieces click...go for it at full throttle..
What would anyone else do? I'll be glad to hear your comments.

Second, the post directed at ericbach:

I just have one question regarding what you wrote: how ready do you think SimbaSystem is for live trading?
Totally
Are you trading it live?
Yes,sometimes mechanically,mainly as an art form combined with Hurst and Conman analysis
Or are you trading a modification? As I wrote before, I have never traded live. Since this system is the one I'm most familiar with, I'd like to read your honest opinion on how ready the system is. I like this system, I trust it. I only have a couple more backtest to do which I can do in terms of days. Then I'd like to go live with microlots and later on, when I feel I'm ready for next step, I can upgrade to minilots etc.

This is the right strategy,while doing mechanically so ,try to feel the ConMan and Hurst "view",and when everything clicks,start your own form of art..
I don't really want to wait months before going live. I believe the markets move much faster than that and with this kind of approach I think I would never feel ready enough to go live. Everyone, how long does it take you to employ a new system or a new modification? Please comment.
You can start now,as long as you use sound Money Management(5 to 10 to 1 leverage and Chandlier stops..) you will progress
Simba, thanks for your spending valuable time with us. I've said it already and I say it again: you are a great mentor and I'm never going to be able to thank you enough for your time and effort...
Well,when you are there with "Georgie" you can wine and dine me
Hope you enjoy doing it, I don't want you to go away
I enjoy trading ,and I enjoy posting,when there is people that,like you and several others,respond with interest..though sometimes it is frustrating to see some individuals unbelievable level of self interest..and stupidity,though I relax telling myself that they are my food..and that they deserve it,sorry if I seem too rude but trading,as any other competitive business,is hardball...
As far as my backtesting, I read your comments and try to finish the first step by Tuesday. Unfortunately, I've been a little sick this weekend and therefore basically didn't advance at all

Well ,I hope your health improves..try some Pivo,Slivovice or similar..They help,at least on a subjective basis..Malcik,you are a very disciplined and intelligent person,you have all the numbers to become a good trader,but don`t become one just for the money,do it if you really enjoy the challenge..do not forget to get a real life,and,believe me,you will blow your first 2 accounts ,no matter what(your ego,unless you are a zen master,will take care of that),so trade part time and light at the beginning,think of it as tuition for your "Phd doctoral degree" in trading..and enjoy the rideHave good one!

Originally Posted by Malcik

NOTE: Another long post by me, nothing connected with SimbaSystem, its rules or anything else, just my feelings, my situation, my thoughts and questions regarding the philosophy of and approach to trading. If you are not interested, just skip this post and save your time

Hi Simba,

Thanks for your great posts. First to the one directed at Pippt:

It is great that you shared with us your thoughts about trading. I'm getting to similar conclusions. Not that I'm mature enough to be able to feel the market and do trading as art, I'm definitely not. I've just been able to begin to grasp the idea that this "art" philosophy of trading is where the real money is to be made.
Unfortunately, there are a few limitations. I still have to go to school. At age of 20 it wouldn't be wise for me to drop out of college and rely on trading as my job for my entire life. I definitely want to trade my whole life, still I want to have my college degree finished and go to regular job. Let's be honest, by trading we are not really helping anyone, at least not in a way that we could see, touch etc. Yes, we are contributing to liquidity in the markets, we work as insurance companies, we are part of markets, and with no markets not very many things could work the way they do in everyone's everyday lives. And the discipline, risk, capital etc. are things we have to be able to bear and the possible extreme financial reward is therefore fair. This job is just not for everyone, only for the best. Furthermore, we can do charity stuff, which is definitely what I intend to do the minute I do my first withdrawal from my trading account, if there ever is some significant leftover profit to be withdrawn. I believe this is my destiny. Still I'd like to see myself going to regular job, to meet people, to see them getting better thanks to me, to make a tangible difference in the world. I study economics and that could by the way very well go together with the charity stuff - people in the world are starving because of simple economic and social reasons. There's nothing more to it.
Why I'm writing this? Because this is the reason for which I have to be the "EA guy". During trading hours I'm at school and at night I like to sleep. EA is the only way I can trade. Position entries are not for me because I, as a student, don't have enough capital for them. Second, I, at least while learning, like to see some partial results (good or bad) in days or weeks, not in months or, more likely, years. For those reasons, my idea was to study market cycles theory based on the books you told us about. I'd like to be able to do the art NOT of trading itself BUT of designing different indicators and EA's at different times, reading the daily and H4 charts, and determining what EA to use this month, what next month etc., and perhaps also to which sides to take the trades to (long/short only). Simply said, I'd like to be a good artist reading the weekly and monthly situations in the markets, determining the right methodology of trading during those times, and let the computer do the minute-to-minute work.
The reason is nothing else than the college. What would you do if you were me, Simba? What would anyone else do? I'll be glad to hear your comments.

Second, the post directed at ericbach:

I just have one question regarding what you wrote: how ready do you think SimbaSystem is for live trading? Are you trading it live? Or are you trading a modification? As I wrote before, I have never traded live. Since this system is the one I'm most familiar with, I'd like to read your honest opinion on how ready the system is. I like this system, I trust it. I only have a couple more backtest to do which I can do in terms of days. Then I'd like to go live with microlots and later on, when I feel I'm ready for next step, I can upgrade to minilots etc. I don't really want to wait months before going live. I believe the markets move much faster than that and with this kind of approach I think I would never feel ready enough to go live. Everyone, how long does it take you to employ a new system or a new modification? Please comment.

Simba, thanks for your spending valuable time with us. I've said it already and I say it again: you are a great mentor and I'm never going to be able to thank you enough for your time and effort. Hope you enjoy doing it, I don't want you to go away

As far as my backtesting, I read your comments and try to finish the first step by Tuesday. Unfortunately, I've been a little sick this weekend and therefore basically didn't advance at all

Have good one!

Originally Posted by SIMBA

Have a nice recovery
Simba

Originally Posted by ericbach

Hello Malik,
Heard your in Prague,
My fathers family is from Jablonec. They all still live there. About 1hr north of Prague by the border of Poland. Haven't been there since 83'. One day, would like to take my family there for Euro Vacation when money's not a concern.
Anyway, you seem to be at the right place at the right time.
As for trading, I am still beta testing a system which I am developing. The 4hr trend signal is key to it becoming successful. And now with the 4hr jma signal, I feel even more convident.
Basically, I have a set of rules to follow.
1.) Sunday check 4hr jma signal for trend change or direction.
2.) Start my expert with built-in money management to buy or sell only in direction of trend.
3.) Set system up to turn off automatically after 100pips is reached or I could decide to extend trade for 200pips. It all depends how much time is left in the week.
4.) Close all left open trades on Friday. Withdraw profit which should be around 50% of equity.
5.) Sunday start all over again.

That is it in a nutshell.
Eric

Originally Posted by dabella

Hi Simba and friends

Im searching the indicators needed as a base to run the template, these are the SATL and Chandelier stops_v1.
Simba could you please post them?
I runned a search in the thread and i'm not able to find them.

Thanks!

Daniel.