- #12,762
- Aug 5, 2007 4:09pm Aug 5, 2007 4:09pm
- | Joined Feb 2007 | Status: Small is beautifull | 1,368 Posts
- #12,763
- Aug 5, 2007 4:17pm Aug 5, 2007 4:17pm
- | Joined Aug 2006 | Status: BORED trader | 2,388 Posts
BAM BAM BOOM! -bravado
- #12,767
- Aug 5, 2007 5:48pm Aug 5, 2007 5:48pm
- Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Kharvell,
You are one of the most controlled traders I have seen. You look for 20 and only 20, and you do it over and over. Very impressive. My question is what made you enter at that level?
Usually for every win it's about .8% for 20 pips, and 4% a week. I don't always get this goal necessarily. Last week I was 7 out of 8 accurate, and compound interest will be a good thing long-term
As far as why I entered, it's always because of the stochastics. I trade Spudfyre's method involving stochastics.
My chart is below. The 15-min stochastics was just above 30 I think when I bought heading up. The 30-min stochastics was on it's way up at around 20+, and 1-hour stochastics are going up at about 22ish.
The 4-hour stochastics are telling me that the longer-term trend is down, but the shorter-term are telling me we may get a little retracement for some pips. When I go against the longer-term trend, I usually aim for my 20 pips and not too much more. It all depends on how the stochastics behave.
I don't always look for only 20, I just look for high probability trades where I don't have to waste a lot of time. 20 pips is a bare minimum I strive for though. It is better to record a win and miss out on pips than to lose.
Usually for every win it's about .8% for 20 pips, and 4% a week. I don't always get this goal necessarily. Last week I was 7 out of 8 accurate, and compound interest will be a good thing long-term
As far as why I entered, it's always because of the stochastics. I trade Spudfyre's method involving stochastics.
My chart is below. The 15-min stochastics was just above 30 I think when I bought heading up. The 30-min stochastics was on it's way up at around 20+, and 1-hour stochastics are going up at about 22ish.
The 4-hour stochastics are telling me that the longer-term trend is down, but the shorter-term are telling me we may get a little retracement for some pips. When I go against the longer-term trend, I usually aim for my 20 pips and not too much more. It all depends on how the stochastics behave.
very interesting because I also like Spudfyre's method, but I have a question for you, when you do this kind of small trades for only 20 pips don't you also look at fibs trendlines and other stuff like that? Sometimes I noticed that stochastics may only go up to 50 level and then reverse etc not necesarily go 85 level to let you complete the 20 pips, and that is because of those levels on the chart, or so i think
I am out for today, the range seems to be tight but will be watching for 243.3 break to long or buying a dip from the 240.77 or 239.60 next week.
Happy trading everyone
taking into account the general bearish market sentimenets from last week's Bearish Engulfing candle close and NFP effect.TP1 @ 240.77 (23.6), TP2 @ 242.73 (38.2), [email protected]