I know that you live around Malibu, Nathan.
Hope that you've made it through the fires alright!
Hoping things are fine with you, bro!
Brent and your friends here
... Excellent results... 
...My goal now is not to make x per day, but to execute and handle each trade to the best of my ability and the profit follows.
)?I have decided though, that there are no "setups"...I mean there are, but if I just look at how it's acting for the day and plug my trade in when it gets to that part of the pattern, I make money.
:])Yes. I haven't posted my results because I don't want newbies getting the wrong impression and I'm not the type to boast, but over the past month, I have made 146% on my account...not sure how many pips that was.
I'm getting to your level of "4 days positive, 1 day negative" LOL. My goal now is not to make x per day, but to execute and handle each trade to the best of my ability and the profit follows.
I have decided though, that there are no "setups"...I mean there are, but if I just look at how it's acting for the day and plug my trade in when it gets to that part of the pattern, I make money.
Hey Nathan, good to see you back on the boards... Well, at least intending to be
Brent gave some good advice to me in my Journal about not having a set number of pips per day/trade... I see your are thinking along the same lines... I just want to know though, did you find it a hinderance... Or was it helpful initially (Not trying trying to question Brent's advice... Just looking for different perspectives...
Want to make sure I am interpereting this right... There is no standard for entering a trade every day... A reason to enter at a particular price/flame/MA cross/etc one day, might be a reason to stay out the next - for such reasons as volatility/how price reacted through Asian Session/etc... Each day is different... And requires an ongoing dynamic strategy...
[Suspect analogy...
This method is more about going with the flow... Somewhat like a river... Know when it's time to jump in... Know when it's time to climb out... Know when the river has dried up... Know when the river is a raging torrent... Know when it leads to the sea... And know when it leads to a waterfall...
[... end of suspect analogy]
In the beginning, it was helpful to set goals for motivation...to provide some kind of benchmark that would mean I was "successful". But, then it turned in to a "I have to meet my goal" kind of thing and I started losing money because I was forcing trades. So, now I know what I would like to make, but I just trade what the market gives me, whether it's 1 pip a day or 100....
...Did you trade the EJ move from NY this morning? Here's my chart...:ROFL:
So that's how you get 146% a month... *writes note to self*...It's good to get some confirmation of what can possibly happen if targets are set for your trading... Thank you for giving your perspective and experience with that...
No, never traded that time... but I see your trading could have made up for every Rainbow follower out there...
Cheers Nathan,
Magnus
Yes, I lost count after 20 pips because everything was going so fast...I did make almost half my account this morning alone though LOL.
On a side note, I wonder why it's disabling the rofl emoticon in my post...I tried to edit it and fix it but it still wont show
Brent gave some good advice to me in my Journal about not having a set number of pips per day/trade... I see your are thinking along the same lines... I just want to know though, did you find it a hinderance... Or was it helpful initially (Not trying trying to question Brent's advice... Just looking for different perspectives...
I've got a busy day tomorrow, so tomorrow night or saturday, I will PM you regarding the risk per trade. And I will look at my trade history on oanda and count all my trades for that session and let you know the win/loss ratio as I would like to know also LOL.
FWIW, I read this part on your journal and it was Stan that talked about this. I'm not trying to take credit away from Brent, just sayin' LOL.
:Great... Very interested... Scalping requires quite different MM than most trading methods...
Thank you for pointing out my referencing error... My apologies to both Stan and Brent... Sorry guys... it's these rainbow based, and very colourful, avatars that throw me off... I keep getting them mixed up...
Magnus
Yes, I lost count after 20 pips because everything was going so fast...I did make almost half my account this morning alone though LOL.
On a side note, I wonder why it's disabling the rofl emoticon in my post...I tried to edit it and fix it but it still wont show
On your name being mentioned... My post #122 above... I talked about something you said in my Journal, about pip targets, and attributed it to Brent... [again, it's the damn rainbow themed avatars!]
Magnus
Nathan, Stan , Magnus, Andy and the rest of you guys... please read eyelcelll's question and tell me what do you think about the spine (in LT's thread post #3185)...
c/z I had the same question a few weeks ago, so I experimented a little...on the each day I was removing a couple of the last lines of the rainbow..... until the only one line was left -- the price......
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