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Can I make 40% per month consistently

  • #61
  • Apr 26, 2007 11:08pm Apr 26, 2007 11:08pm
Quoting Yellow2
Thanks for your reply, you've clarified heaps.

Yellow
Please take this set up out for a spin and see what it can do. Feel free to give your feedback in future if it works for you.
Best wishes.
  • #62
  • Apr 26, 2007 11:18pm Apr 26, 2007 11:18pm
Another interesting little thing, if you look at the chart in post 50, on the right is the 15 min chart and the fozzy RSI is jumping all around the SMA line, rubbish indicator you say can't trade that.

Have a look at the 30 min chart on the left, fozzy RSI is well above the SMA, theres no sell there until the RSI turns down and crosses the SMA.

As I've mentioned before if these indicators are all over the place on a lower time frame just keep on jumping up one time until things have settled down and that will give you the true picture of whats going on (in my humble opinion).
  • #63
  • Apr 26, 2007 11:22pm Apr 26, 2007 11:22pm
Quoting Yellow2
I apologise if the reason you missed the trade was because you were stunned by the World Cup cricket score yesterday.

yellow

"Go Aussie"
Aha the penny just dropped I was wondering where the Yellow came from!!!! Maybe I should change to green and gold!!

Serious trading will resume with immediate effect.
  • #64
  • Apr 26, 2007 11:30pm Apr 26, 2007 11:30pm
Quoting brxxt
Oh one more thing

price is getting closer to a long term support trendline that start 3/14/07

I will wait for the bids and offer information tonite and will trade this trendline accordingly if the bids are in the right place.

If not i will just wait for the next trend manager signal because i need to stay disciplined with the strategy that made me profitable in my previous demo journal

oh and i tried to log into that link you sent me but it keeps giving me the error saying it cant open my audio input
Also we are so far away from the GBPUSD daily ema's 50, 100 and 200 which are at 9731, 9575 and 9285. Price could come back a lot and still be in an uptrend. The 100 ema has done a good job of containing price since April 2006.

So I'm hoping for a nice trend down, sell the rallies!! Obviously whatever happens with interest rates/US UK economies will determine where we go but a nice fall for a few weeks before the pound comes back would be good.
  • #65
  • Apr 27, 2007 2:28am Apr 27, 2007 2:28am
Quoting Vantage
Please take this set up out for a spin and see what it can do. Feel free to give your feedback in future if it works for you.
Best wishes.
Hi, Vantage

So far, your set up looks great, I'd like definitely like to take it for a spin and report results.

Was there a scalp entry on the 15min cable at 0645 GMT. (not sure how to post charts)

Hope all goes well for your goal.

Yellow

(I think your rugby teams are doing just fine, much better then QLD reds)
  • #66
  • Apr 27, 2007 3:04am Apr 27, 2007 3:04am
Today is a public hol here and I've just finished breakkies with the better half shes gone back for a lie in and I'm at work in front of the computer.

Its a National Day of Mourning the oh damn our cricket team is cr*p day. Let me load up a chart and we'll see if we are on the same page. back in a sec.
  • #67
  • Edited 3:39am Apr 27, 2007 3:14am | Edited 3:39am
Looks like 1.20 est and 3.15 est were nice. Even if I'm scalping I'd still want two time frames to be lining up. By this I mean stoch both either OB or OS etc etc. Attached the 5 and 30 min charts. The lines drawn pretty much coincide with the two trades. Put this up quick so I hope all will tie in.

So it looks like a sell around 1.9915 and then later a buy around 1.9978.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Apr. 27 10.09.jpg Size: 88 KB
  • #68
  • Edited 4:00am Apr 27, 2007 3:18am | Edited 4:00am
(I think your rugby teams are doing just fine, much better then QLD reds)[/quote]

Thats not hard everyones better then the Reds (at least this year) go Bulls go Sharks!!! I live in Bulls country.
  • #69
  • Apr 27, 2007 3:23am Apr 27, 2007 3:23am
Sorry I loaded the 30 min chart.

Going into 3 am see price went lower but MACD waved up very strong positive divergence. Stoch also shown div, the last wave down was not as low.

On the 5 min chart MACD histogram shows div, price lower but the histogram is tracking up. The stoch has also waived higher can you see that, another chart coming.
  • #70
  • Apr 27, 2007 3:28am Apr 27, 2007 3:28am
This will show the divergences. Shout if anythings not clear.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Apr. 27 10.26.jpg Size: 88 KB
  • #71
  • Apr 27, 2007 3:37am Apr 27, 2007 3:37am
I was looking at the 30 & 15 min prior to the move down. There was good resistance at the 50ema on the 15 min cable. This was also tne 1st target for the climb back up.

The 5 & 30 min chart combo looks good, 1 to 6 is a good ratio and would have got in earlier.

I have to do some back testing, and look for what happens in the ranging market.

So far, great set up.

Yellow

15 min, 100 ema just hit - 2 nd lot

trail last lot on 5 min bottoms
  • #72
  • Apr 27, 2007 3:38am Apr 27, 2007 3:38am
Hi again Yellow2
Had a look at the 15 min chart there was also massive divergence on the MACD, identical to the 30 min divergence.

Again divergence is one of the best indicators for a turnaround and on this latest buy around 1.9980 there were divergences showing on 5 min, 15, 30 and 1 hr.

Multiple time frame trading works really well.
  • #73
  • Apr 27, 2007 3:44am Apr 27, 2007 3:44am
Quoting Yellow2
I was looking at the 30 & 15 min prior to the move down. There was good resistance at the 50ema on the 15 min cable. This was also tne 1st target for the climb back up.

The 5 & 30 min chart combo looks good, 1 to 6 is a good ratio and would have got in earlier.

I have to do some back testing, and look for what happens in the ranging market.

So far, great set up.

Yellow

15 min, 100 ema just hit - 2 nd lot

trail last lot on 5 min bottoms
Nice to hear. If a higher time frame is OB OS and this can be anything basically up to 1hr you can always go straight to the 5 min. As the chances are if the 1 hr is OB or OS usually everything else in between will be. On this example 5 min, 15, 30 and 1 hr were all OB and turned down and were all OS and turned up. A perfect set up.
  • #74
  • Edited 5:01am Apr 27, 2007 4:03am | Edited 5:01am
Quoting Yellow2
I was looking at the 30 & 15 min prior to the move down. There was good resistance at the 50ema on the 15 min cable. This was also tne 1st target for the climb back up.

The 5 & 30 min chart combo looks good, 1 to 6 is a good ratio and would have got in earlier.

I have to do some back testing, and look for what happens in the ranging market.

So far, great set up.

Yellow

15 min, 100 ema just hit - 2 nd lot

trail last lot on 5 min bottoms
In a ranging market work on the lower time frames, theres usually enough movement on the GBPUSD to make the 20 pips per day.

I'd better take my own advice!!! A terrible week for me when there some great set ups.
  • #75
  • Apr 27, 2007 6:49am Apr 27, 2007 6:49am
check out my postings on my thread when you get a chance
  • #76
  • Apr 27, 2007 8:47am Apr 27, 2007 8:47am
Quoting brxxt
check out my postings on my thread when you get a chance
Have had a look, post levels when you can.

In summary.
What a frustrating week. So many missed opportunities for numerous reasons. The Vantage Retirement Fund and Nice Lifestyle Charity lost out big time this week.

The system is there, the charts I've posted proves that without question. The trades I missed would have given a 40% return in 2 days never mind a month. So the quest for 40% per month is really on of that I have no doubt. Mentally I have to be stronger and also I have to be more professional in my trading. When I'm trading no looking at FF for example, or at least much less. The futures so bright I've gotta wear shades!!

OK but I didn't make the trades I should have so the results for the 2 weeks are 4 trades all positive. I'll just have to catch up next week.

Week 2
Goal $1000 Profit $40

Total so far
Goal $2000 Profit $1136
  • #77
  • Apr 27, 2007 8:54am Apr 27, 2007 8:54am
I hear that........only made 15% this week.... missed signals, tight market, just could'nt seem to get a handle on it this week.
Same Whore .... Different Dress
  • #78
  • Apr 27, 2007 9:01am Apr 27, 2007 9:01am
Quoting johnedoe
I hear that........only made 15% this week.... missed signals, tight market, just could'nt seem to get a handle on it this week.
Yeah it was a funny week but 15% is great. I look back at the charts I've posted and scratch my head and ask myself why on earth are those pips not in the bank?? The things I have spent 2 years putting together seems all lined up (lots of putting together not that much live trading due to my work hours, I've never been comfortable setting a trade and walking away).

Do you have any comments on the set up, are you using anything from here do you think improvements can be made? An open question to you and anyone else thats looking in.
  • #79
  • Apr 27, 2007 9:07am Apr 27, 2007 9:07am
The reason I ask is obviously to get this system as good as possible. The other reason is there is a very real possibility that I will be a full time trader in 2 months time.

So this journal has to record my experiences, feelings, failures as reality - life as a full time trader - will set in very soon I think.
  • #80
  • Apr 27, 2007 9:11am Apr 27, 2007 9:11am
congrats on the 15%, i only made 1.4%
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