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Attachments: 4% A Day Forever
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4% A Day Forever

The Fool

I am interested to know how you trade. Is anywhere a detailed description of how you trade on this thread?

Cheers
mla
"The Heart is the hub of all dances; go there and chill out"
Quoting mla
The Fool

I am interested to know how you trade. Is anywhere a detailed description of how you trade on this thread?

Cheers
mla
i still scalp m/l the same way that i have described in this thread, but my trading has evolved and often I am scalping to get the best entry into a swing or position trade. Also, I don't just trade e/u anymore, but have embraced lots of other pairs and futures... Variety is good.

Currently I am tying to map and automate some of the ways that I trade. Slow going. I hope to be able to hire a math/computer whiz this coming year to help out with turning some of the ideas I have into useful trading algorithms and charting tools.

If you go through the thread i hope you may find something of value. Feel free to ask questions if you wish but it might take me a while to respond.
"If The Fool persists in his Folly he will become wise." - William Blake
Quoting The Fool
i still scalp m/l the same way that i have described in this thread, but my trading has evolved and often I am scalping to get the best entry into a swing or position trade. Also, I don't just trade e/u anymore, but have embraced lots of other pairs and futures... Variety is good.

Currently I am tying to map and automate some of the ways that I trade. Slow going. I hope to be able to hire a math/computer whiz this coming year to help out with turning some of the ideas I have into useful trading algorithms and charting tools.

If you go through...
Thanks mate,

mla
"The Heart is the hub of all dances; go there and chill out"
Quoting mla
Thanks mate,

mla
Hi TF

I have one question for, are you still making 4% a day with this system?

I thank you in advance.

mLa
"The Heart is the hub of all dances; go there and chill out"
Quoting mla
Hi TF

I have one question for, are you still making 4% a day with this system?

I thank you in advance.

mLa
a better approach to trading involves constraining losses to daily, weekly, monthly maxima. By all means seek maximum yield - but do so with a disciplined approach to loss control and you may prosper.
"If The Fool persists in his Folly he will become wise." - William Blake
Quoting The Fool
a better approach to trading involves constraining losses to daily, weekly, monthly maxima. By all means seek maximum yield - but do so with a disciplined approach to loss control and you may prosper.
Thank you.

I trade short term and I am also looking to develop a scalp system.

Last night(my time), I traded this way:

"A typical short entry will be found at the top of the BB channel, as PA begins to turn and go south. Candlestick patterns can be observed to confirm the turn. The exit will occur at some point on the other side of the median line, ideally all the way to the opposite BB line. A default TP may be set, corresponding to a safe range. Typically, if a 4 pip TP can not be relied on, then the PA is considered untradeable."

Made 11 pips in 20 minutes. not bad, today I am going to spend much more time on it.

Do you wait for the completion of the reversal candle to get in? or not necessary.

Thank you in Advance.

mla
"The Heart is the hub of all dances; go there and chill out"
since i am looking at multiple tf's simultaneously the completion of candles does not necessarily mean that much to me
"If The Fool persists in his Folly he will become wise." - William Blake
Quoting The Fool
since i am looking at multiple tf's simultaneously the completion of candles does not necessarily mean that much to me
True, I noticed that the time is complete, you TP would have been already reached.
Do you mind articulate a bit more about multiple TF?

mla
"The Heart is the hub of all dances; go there and chill out"
Hey Fool, moved to M15 more range / trend swing style and been profitable with very few losers for approx 3months.

To under capitalised to make a living off it any time soon, but 6 months out with some additional cash and we'll see.

+10% today and +8% yesterday sadly I exited right before UK open and the big move up.


Good to see your still kicking around dude.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Quoting Turveyd
Hey Fool, moved to M15 more range / trend swing style and been profitable with very few losers for approx 3months.

Good to see your still kicking around dude.
hey man, yeah i think i noticed in your posts somewhere you were swingin more.

Yup I still have the 10s chart running but I am really looking for trades that have a chance of running into good returns. I will still take the 5-pip winners if thats all a range is giving up th ough ... and if they're easy.

I had to deal with overtrading like most scalpers do - also you have to find some methods that you can live with over time - and manually scalping on the M1 just takes its toll in stress/boredom. Plus the more trades you do the more chances you open up to potential mistakes/fuckups/lapses in discipline whatever.

Anyway, glad to see you are winning - keep it up.
"If The Fool persists in his Folly he will become wise." - William Blake
Quoting mla
Do you mind articulate a bit more about multiple TF?
i continually try to exploit wave patterns that often show up in price action. some of these are discernable in a higher tf, not so in a lower - or vice versa. There are waves within waves - theres a fractal characteristic of recurring patterns that can be exploited. i look for confluences in those wave patterns...

You see the e/u is going up and you want to go long. you need a good entry. if you will look at multiple tf's you may see a pullback on m5, also on m1 you see it better, then if you zoom in even closer to 10s you may see a little wave pattern and so you might be able to fine tune your entry to a low in the latter 10s waves.

if you can fine tune your entries you can more safely attempt trades that have a high r:r - high %return per pip.

so thats what i meant by not caring so much about a candle closing - because i am usually looking acoss several tf's where candles are doing different open/close - but i am looking at the patterns as a whole.

then on top of that i will watch for reactions at demand/supply zones, noted psych and options barrier levels. also watch the news feeds for anything juicy. and so on...

shit its a lot of work....nah, it kinda just becomes second nature, like riding a unicycle while juggling running chainsaws - easy after you get the hang of it.
"If The Fool persists in his Folly he will become wise." - William Blake
Quoting The Fool
i continually try to exploit wave patterns that often show up in price action. some of these are discernable in a higher tf, not so in a lower - or vice versa. There are waves within waves - theres a fractal characteristic of recurring patterns that can be exploited. i look for confluences in those wave patterns...

You see the e/u is going up and you want to go long. you need a good entry. if you will look at multiple tf's you may see a pullback on m5, also on m1 you see it better, then if you zoom in even closer to 10s you may see a little...
Thank you.


mla
"The Heart is the hub of all dances; go there and chill out"
Quoting The Fool
hey man, yeah i think i noticed in your posts somewhere you were swingin more.

Yup I still have the 10s chart running but I am really looking for trades that have a chance of running into good returns. I will still take the 5-pip winners if thats all a range is giving up th ough ... and if they're easy.

I had to deal with overtrading like most scalpers do - also you have to find some methods that you can live with over time - and manually scalping on the M1 just takes its toll in stress/boredom. Plus the more trades you do the more chances you...

M1's stress and boredom issues does not suite me. I've got a M15 vague range and ma based trend, I accumulate in the range with the trends direction and check on it every 15mins or so via phone, no sat infront of the screen, no stress ( except monday when I F'd up ) and no boredom.

Sitting watching ='s closing to soon or moving SL and adding more positions and nearly blowing the account LOL

Shame I wanted to beat scalping just as a personal challenge, but times are hard better start thinking about the $$$'s and build the account up, getting old and boring hey.

Keep it up to old chap.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Hi The Fool

I trade the 5m tf and no indications.(Only some time I switch to 1m, when she has already moved).

This week I gained a return of 29% and one day left to go. (I know that is a lot, but I am learning)

I set up a visual thread, the idea behind it to learn and teach through images and not concepts (I belevie that concept limits our views).

I am sure that your input would be beneficial to many traders and not only.

So I invite you to pop in, if you wish and show us your trade, you never know.....

All the Best
mla
"The Heart is the hub of all dances; go there and chill out"
Quoting The Fool
shit its a lot of work....nah, it kinda just becomes second nature, like riding a unicycle while juggling running chainsaws - easy after you get the hang of it.
great quote.
  • Post #1,356
  • Quote
  • Edited Nov 1, 2011 6:59pm Oct 31, 2011 11:09pm | Edited Nov 1, 2011 6:59pm
An this is the same fool who in 2009 started this thread and said he would be a million dollars richer by next summer?


I was being sarcastic and I'm sorry it was taken wrong. Yeah The fool has the balls for trying. We are all "trying" here. I did not mean
any disrespect but I see it came out that way on text but not in my head. I was playing around my bad. You can keep me off your thread that is your choice I don't care either way.
Just wanted to share my apology.
L8r
I think the above comment is unfair.

The Fool had the stomach (the balls) in trying, not only for himself but for the others as well.

4% in day? We do not know if he does it or not . But that is not the point.

The point is that he tried when all the odd were against him. The most important lesson that he wanted to give us I think (I only read the first page of thread, but when I ask him to clarify, he was there.) was this:
You can do a lot if you wish.

I have his trading plan on my desk and I find it very helpful for my trading and for that I thank him gratefully.

On the note: Sometimes and lately more then often I make even more the 20% a week. If I can do it that I am a lousy trader I belevie that The Fool if is in sync, can do it quite often.

So, the fact that I can make that, is also based on the fact that the Fool gave me a reason. If he can, I will try. And that is the message.

mla
"The Heart is the hub of all dances; go there and chill out"
+1.

I think the comment was taken a bit out of context.

Why someone would come into a thread just to shit on it, with no constructive comments, I don't understand.

I've met TF personally. He's a straight shooter & knowledgeable trader.

Quoting mla
I think the above comment are unfair.

The Fool had the stomach (the balls) in trying, not only for himself but for the others as well.

4% in day? We do not know if he does it or not . But that is not the point.

The point is that he tried when all the odd were against him. The most important lesson that he wanted to give us I think (I only read the first page of thread, but when I ask him to clarify, he was there.) was this:
You can do a lot if you wish.

I have his trading plan on my desk and I find it very helpful for my trading and for...
Quoting sam0182
+1.

I think the comment was taken a bit out of context.

Why someone would come into a thread just to shit on it, with no constructive comments, I don't understand.

I've met TF personally. He's a straight shooter & knowledgeable trader.
I agree with you 110%, that is why I cared to send that post. He also was very helpful when I asked him to clarify some points.


mla
"The Heart is the hub of all dances; go there and chill out"
well thank you boys for stickin up for me. Its a little unfortunate I named this thread as I did but as I began in Fx that was kind of where my head was at - woohoo! - 4% a day - ok, that's a zillion bucks in just a couple years!

If I had named it "Fool's Perilous Journey" or whatever I would prolly have attracted less attention. But its all good.

re: trading results - I don't really post mine anymore because a) I don't need to prove anything to anyone here, and b) the topic is m/l a bore, imho.

But since people ask, here is where I'm at re: trading results: I will tell you that, for me, the challenge that remains is not so much an outstanding monthly or quarterly or annual return, but consistent good returns booked within tight risk management. Not exceeding set drawdown levels per day, week, month, etc. This is where the rubber meets the road - the mark of a good trader.

Still working on it...

Best of luck to alla ya'll.
"If The Fool persists in his Folly he will become wise." - William Blake
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