Quick 50 pips
daily POC 89.38
as I was posting oil dropped another 50 pips - LOL!
Attached Image
daily POC 89.38
as I was posting oil dropped another 50 pips - LOL!
If you make money, does Oanda make money? 35 replies
EveryDay just need 10PIPS for make a living . 7 replies
Bulls make money, Bears make money. And Pigs get slaughtered. 12 replies
Everyday I make around 80 pips 33 replies
Short Term / Medium Term / Long Term? 3 replies
DislikedCool method. What I'm having trouble with is figuring out exact rules for when to enter. I realized that this is discretionary method but I'm personally uncomfortable with uncertainty and discretion. I guess it's just my personality. Has anyone tried to make a more or less strict rule set for entries and exits?Ignored
DislikedIf you don't like getting stopped this method will be painful. 6 pips is a tight stop and sloppy PA slaughters that. But the nights I am unprofitable have been because 1) I wasn't yet familiar with PA in the way it expressed itself (just takes more experience). 2) I had 4 or so stops, say 2 that were just part of the game, and 2 mistakes, then I got frustrated and temporarily lost faith in the edge and left the charts.Ignored
DislikedHey mate I'm glad you asked that, I have been looking at this and I'm not there yet.
I've noticed that there are a lot of variables to take into account and situations that look the same can be interpreted very differently.
Every time I go to type up my rules my head spins because there are just too many ifs/buts.
Roughly I do this:
-Buy/sell only at QTRs, take 1/2 profit at mid point then move to BE and wait for rest of profit at next QTR or BE on last 1/2 of position.
-If we are trending I will buy/sell when price moves through the next QTR...Ignored
DislikedI see. I have to be honest with myself and say: I'm afraid this method is not for me. Too much discretion.Ignored
DislikedWow! Great post Nhen - very well thought out...
I just want to add to your point about getting stopped out - you have to gracefully take losses! It is going to be painful at first but after a while you must learn to treat those two impostors(winning&losing) the same. As long as your money management is in place losing 6 pips should not bother you - it should just be a warning to pay close attention and get ready for the next trade.
Accept losing as part of the game! Don't embrace it, just accept it.Ignored
Disliked- You will have unprofitable trades. Period. However - How you respond and handle those is going to be the key to whether you can actually make a career out of trading or whether it will just be one expensive damn hobby.
MongolianIgnored
DislikedShould have had pending orders set - got caught asleep at the wheel on this nice 100 pip move!
Attachment
Damn! That should have been my day!Ignored
DislikedGoal:
Make Money Everyday.
How:
Capture as many moves as possible each day.
Framework:
Currency price action has natural support and resistance levels at each whole number, as well as each quarter level between whole numbers, AND the halfway point between each quarter level as well.
Some Things to Remember:
[list][*]The length of expected move is directly related to the length of time you are looking at. More often than not...Ignored