most EAs fail because of stop losses.
scalping by hand is too difficult.
scalping by hand is too difficult.
- #43
- Nov 2, 2007 6:28am Nov 2, 2007 6:28am
- Joined Aug 2007 | Status: Always trying... | 1,918 Posts
Hey, This thread has really Kiked off! 52 viewers ATM. Thats amazing, Ive got some Genuine snake oil, anyone want to buy some? 2 bottles for the price of 1!!
Leon
Leon
Living the adventure in my head.
- #45
- Nov 2, 2007 6:54am Nov 2, 2007 6:54am
- Joined Sep 2006 | Status: Trader | 2,272 Posts
i scalp, it works, and sometimes it doesnt...haha
curently i have set 8 pip fix sl, tp is always what market gives me,...before going against,...
i have set next rules,
If i see profit, i wait a little more and when it stop moving i take it,...
dont use sl to lock profit it is always hit,...
trade small, try not to be to angry,..if sl is hit, is hit,...wait, dont go in imediatly,..etc, etc,
keep going...
curently i have set 8 pip fix sl, tp is always what market gives me,...before going against,...
i have set next rules,
If i see profit, i wait a little more and when it stop moving i take it,...
dont use sl to lock profit it is always hit,...
trade small, try not to be to angry,..if sl is hit, is hit,...wait, dont go in imediatly,..etc, etc,
keep going...
its just money
- #46
- Nov 2, 2007 7:01am Nov 2, 2007 7:01am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Well Linuxtroll, FXJarhead and JFX81 and Italianstarp(?) I think it was have all stated that they scalp for a living.
So I will just assume that it does indeed work if you know how.
My biggest problem has always been that I've never seen anyone properly break things down and lay out a scalping system that immediately struck me as workable and logic...there usually tend to be so many indicators or things involved (MA rainbows even! j/k..actually looked at that once, but never found the part where the entry and exit rules came into play back then I believe) that it never felt "right"...(I have a deep distrust for most indicators)
So the real challenge in responding to this article in my eyes is supplying a well laid out counter-argument in form of a working scalping system with a clear ruleset
Seen so many, liked(and believed) so little
So I will just assume that it does indeed work if you know how.
My biggest problem has always been that I've never seen anyone properly break things down and lay out a scalping system that immediately struck me as workable and logic...there usually tend to be so many indicators or things involved (MA rainbows even! j/k..actually looked at that once, but never found the part where the entry and exit rules came into play back then I believe) that it never felt "right"...(I have a deep distrust for most indicators)
So the real challenge in responding to this article in my eyes is supplying a well laid out counter-argument in form of a working scalping system with a clear ruleset
Seen so many, liked(and believed) so little
Trust price. Know yourself.
- #48
- Nov 2, 2007 7:30am Nov 2, 2007 7:30am
Hi Leon,
Lesson will be even harder when you trade 4 hour chart or 1 day chart or long term... As you can not predict the direction; draw down will kill you... stop hunting will kill you... to absorb the big draw down - you can not trade bigger lots - and you need bigger capital to absorb the draw down; smaller lot with long term results will make you a millionaire when you reach 100 years - where you can not use the money you made... Scalpers will be making the same amount in a few days... why wait... no sleep... monitor and pray for days, weeks or months... and never be rich... Learn proper scalping - Make Money and Enjoy the good things in life... LoL
Herm..
My english is bad so I am going to make this as short as posible.
Alright. I admit I am not even near to success in trading but I have the will to keep learning. Now, I would just assume that you have been successful in scalping for "many" years but your point above makes me douth about certain things. From my understanding, you are saying that :
-Trend trading will be a failure in the long run.
This is the first time Iv heard from a 1kt trader. Do you think there is a posibilities that you could be wrong about this? Or I missed understood?
-4hr or Daily chart is is harder to trade because it is unpredictable.
I agree with you. There is no where we could predict the market. Neither with scalping IMHO. I am sure you agree with me too.
-"Stop hunters" will kill the medium to long term trader rather then scalpers.
I can't imagine how, by scalping, I could avoid losing a trade or two because of this so called "stop hunters".
-Long term trader trade with smaller lot.
Well, this obviously comes down to individual style of MM. Since you have been success in scalping for many years, you must have a 7 digits account by now, dont you? Say, if you have a $10M account. And say you risk 1%/scalp. That would be equal to $100,000. But then again, no. Scalper could trade bigger lot. Lets make it 2% risk or maybe 3%? If your SL is say 30pips and TP is 10pips, that would means that you would be trading with more then 100 lots.
$100,000 risk, 30pips SL, = around 300 lots?
$200,000, 30pips, = around 700 lots?I dont feel like doing the math.
100lots = $1,000/pip if you trade the Eur/Usd! How can you not be exposed to "stop hunters"? And could you talk about slipage?
I dont mean to point my finger to anyone but I am here for 1 reason. FREE Education. Please educate me. What are the things that I cant see. Thanks
--TNT--
I Love Forex Factory!
- #51
- Nov 2, 2007 10:18am Nov 2, 2007 10:18am
- Joined Aug 2007 | Status: Always trying... | 1,918 Posts
i scalp, it works, and sometimes it doesnt...haha
curently i have set 8 pip fix sl, tp is always what market gives me,...before going against,...
i have set next rules,
If i see profit, i wait a little more and when it stop moving i take it,...
dont use sl to lock profit it is always hit,...
trade small, try not to be to angry,..if sl is hit, is hit,...wait, dont go in imediatly,..etc, etc,
keep going...
Living the adventure in my head.
- #52
- Nov 2, 2007 1:14pm Nov 2, 2007 1:14pm
- Joined Feb 2006 | Status: Blah blah blah | 1,410 Posts
The breaking of a wave cannot explain the whole sea.
- #53
- Nov 2, 2007 3:35pm Nov 2, 2007 3:35pm
- Joined Sep 2006 | Status: Trader | 2,272 Posts
I seem to have thesame problems when trying to lock in profits! PRACTICE X1000, thats my plan!
:, i will use only half position compared to less then 15 or 15 min. chart,...and ocasionaly if sl is hit 2 times, i may increase position up to 10 times...for a revenge trejding (SL mental, not in the market!),...i may change that one, if it wont be succesfull over longer period of time,....
its just money
- #56
- Nov 2, 2007 6:24pm Nov 2, 2007 6:24pm
- | Commercial User | Joined Mar 2004 | 1,255 Posts
Well Linuxtroll, FXJarhead and JFX81 and Italianstarp(?) I think it was have all stated that they scalp for a living.
So I will just assume that it does indeed work if you know how.
My biggest problem has always been that I've never seen anyone properly break things down and lay out a scalping system that immediately struck me as workable and logic...there usually tend to be so many indicators or things involved (MA rainbows even! j/k..actually looked at that once, but never found the part where the entry and exit rules came into play back then I believe) that it never felt "right"...(I have a deep distrust for most indicators)
So the real challenge in responding to this article in my eyes is supplying a well laid out counter-argument in form of a working scalping system with a clear ruleset
Seen so many, liked(and believed) so little
Key is to keep it simple and stupid; train your eyes and brain for scalping... and repeat what worked by following Mantra... Worked for me many years...
- #57
- Nov 2, 2007 6:37pm Nov 2, 2007 6:37pm
Same goes for all other trading systems too... there is no magic pill or entry/exit... Otherwise all will know where to enter and exit and all will become billionaires from that rule-set...
Key is to keep it simple and stupid; train your eyes and brain for scalping... and repeat what worked by following Mantra... Worked for me many years...
The best part it never gets tired like I do.
- #58
- Nov 2, 2007 6:48pm Nov 2, 2007 6:48pm
- | Commercial User | Joined Mar 2004 | 1,255 Posts
My answer to you in Bold Black...
Herm..
My english is bad so I am going to make this as short as posible.
Alright. I admit I am not even near to success in trading but I have the will to keep learning. Now, I would just assume that you have been successful in scalping for "many" years but your point above makes me douth about certain things. From my understanding, you are saying that :
-Trend trading will be a failure in the long run.
This is the first time Iv heard from a 1kt trader. Do you think there is a posibilities that you could be wrong about this? Or I missed understood?
Which trend? 5 sec? 5 min? 15min? 30min? daily? weekly? - You got it? Simply put - Assuming that you can predict the trend will be a failure in the long run - scalpers do not predict the trend, but look for price action and react quickly - read the mantra for more clarification...
-4hr or Daily chart is is harder to trade because it is unpredictable.
I agree with you. There is no where we could predict the market. Neither with scalping IMHO. I am sure you agree with me too.
Scalpers never try to predict the market... they trade what they see...
-"Stop hunters" will kill the medium to long term trader rather then scalpers.
I can't imagine how, by scalping, I could avoid losing a trade or two because of this so called "stop hunters".
Scalpers love to loose money, but they have a solid money management built-in to their method - so end the day with positive equity... read the Mantra again and again to get some clarification...
-Long term trader trade with smaller lot.
Well, this obviously comes down to individual style of MM. Since you have been success in scalping for many years, you must have a 7 digits account by now, dont you? Say, if you have a $10M account. And say you risk 1%/scalp. That would be equal to $100,000. But then again, no. Scalper could trade bigger lot. Lets make it 2% risk or maybe 3%? If your SL is say 30pips and TP is 10pips, that would means that you would be trading with more then 100 lots.
You did not even understand scalping and money and risk management... read the mantra and ultimate trader; then revise what you have written here... I do not want to teach you money management here... Yes bank account is 7 digits... and for 11 others who used my method...
$100,000 risk, 30pips SL, = around 300 lots?
$200,000, 30pips, = around 700 lots?I dont feel like doing the math.
100lots = $1,000/pip if you trade the Eur/Usd! How can you not be exposed to "stop hunters"? And could you talk about slipage?
You have a long way to go to understand scalping... first check your TP and SL numbers... You would not even understand the tools that scalpers use and the multiple strategies we activate to grab the pips... read about bracket trading and ladder tools... do a search on buttontrader... LoL
Before all that download and read the mantra...
I dont mean to point my finger to anyone but I am here for 1 reason. FREE Education. Please educate me. What are the things that I cant see. Thanks
Learn scalping... Start with Ultimate trader and Mantra...
Herm..
My english is bad so I am going to make this as short as posible.
Alright. I admit I am not even near to success in trading but I have the will to keep learning. Now, I would just assume that you have been successful in scalping for "many" years but your point above makes me douth about certain things. From my understanding, you are saying that :
-Trend trading will be a failure in the long run.
This is the first time Iv heard from a 1kt trader. Do you think there is a posibilities that you could be wrong about this? Or I missed understood?
Which trend? 5 sec? 5 min? 15min? 30min? daily? weekly? - You got it? Simply put - Assuming that you can predict the trend will be a failure in the long run - scalpers do not predict the trend, but look for price action and react quickly - read the mantra for more clarification...
-4hr or Daily chart is is harder to trade because it is unpredictable.
I agree with you. There is no where we could predict the market. Neither with scalping IMHO. I am sure you agree with me too.
Scalpers never try to predict the market... they trade what they see...
-"Stop hunters" will kill the medium to long term trader rather then scalpers.
I can't imagine how, by scalping, I could avoid losing a trade or two because of this so called "stop hunters".
Scalpers love to loose money, but they have a solid money management built-in to their method - so end the day with positive equity... read the Mantra again and again to get some clarification...
-Long term trader trade with smaller lot.
Well, this obviously comes down to individual style of MM. Since you have been success in scalping for many years, you must have a 7 digits account by now, dont you? Say, if you have a $10M account. And say you risk 1%/scalp. That would be equal to $100,000. But then again, no. Scalper could trade bigger lot. Lets make it 2% risk or maybe 3%? If your SL is say 30pips and TP is 10pips, that would means that you would be trading with more then 100 lots.
You did not even understand scalping and money and risk management... read the mantra and ultimate trader; then revise what you have written here... I do not want to teach you money management here... Yes bank account is 7 digits... and for 11 others who used my method...
$100,000 risk, 30pips SL, = around 300 lots?
$200,000, 30pips, = around 700 lots?I dont feel like doing the math.
100lots = $1,000/pip if you trade the Eur/Usd! How can you not be exposed to "stop hunters"? And could you talk about slipage?
You have a long way to go to understand scalping... first check your TP and SL numbers... You would not even understand the tools that scalpers use and the multiple strategies we activate to grab the pips... read about bracket trading and ladder tools... do a search on buttontrader... LoL
Before all that download and read the mantra...
I dont mean to point my finger to anyone but I am here for 1 reason. FREE Education. Please educate me. What are the things that I cant see. Thanks
Learn scalping... Start with Ultimate trader and Mantra...
- #59
- Nov 2, 2007 6:59pm Nov 2, 2007 6:59pm
- | Commercial User | Joined Mar 2004 | 1,255 Posts
I am training a neural network following your ideas, I think it is already starting to do better than me
The best part it never gets tired like I do.
