making a killing!! in this market | Forex Factory

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making a killing!! in this market

  • #1
  • First Post: Dec 4, 2007 7:48am Dec 4, 2007 7:48am
Hi Guys

This is great
I am up over 500 pips in the last week & had just on bad trade.
everyone else seems to be dying

I have used a # of systems .. the system really doesn't matter.

what I do is make sure I am right with the day & 4 hour trend...
then only trade with it

then I look for the move in the 5 & 15 min charts to go away & come back with the trend.


I am bidding 3-5 lots

TP is 10 + spred
SL is 35

I am looking at every thing

I hope we stay like this till the new year !!!!


TEB
  • #2
  • Dec 4, 2007 7:53am Dec 4, 2007 7:53am
TEB

With so many different systems you are using, are you basically seeing which is better than the next? I sometimes find it hard to track it when there are too many systems. Some gives earlier entry one day, but then on other days, its may be too late. Is that what you see also?
  • #3
  • Dec 4, 2007 7:55am Dec 4, 2007 7:55am
wow you are a part of the 5% damn you must be loaded ...

keep up the good work!
  • #4
  • Dec 4, 2007 7:55am Dec 4, 2007 7:55am
10 pip profit with 35 pip spread doesnt seem balanced
  • #5
  • Dec 4, 2007 7:55am Dec 4, 2007 7:55am
Donīt want to say bla bla bla about RRR and profitability in long run, but:
How many winning and how many loosing trades do you have in a month?
Will you post some of your live trades from now?
Are you talking about 3 ducks with 60SMA ?
Good luck
  • #6
  • Edited 8:12am Dec 4, 2007 7:58am | Edited 8:12am
Quoting Venca
Donīt want to say bla bla bla about RRR and profitability in long run, but:
How many winning and how many loosing trades do you have in a month?
Will you post some of your live trades from now?
Are you talking about 3 ducks with 60SMA ?
Good luck

not using that system
that is way too slow
I am using much much small #s the 60

teb
  • #7
  • Dec 4, 2007 8:00am Dec 4, 2007 8:00am
Quoting harold4x
10 pip profit with 35 pip spread doesnt seem balanced

you are right its not
& when I start to lose ( & I will... when we move to trend again after all the interst rate stuff this week)

I will change back better MM

TEB
  • #8
  • Dec 4, 2007 8:07am Dec 4, 2007 8:07am
10 more on both the

Eur/usd
&
Usd/Chf

TEB
  • #9
  • Dec 4, 2007 8:10am Dec 4, 2007 8:10am
I should say
Rob Booker has a very good E-book that is free with this Idea
He is a very good teacher and only trades this way.!?

It is very common system in other markets
that do not trend as well as 4x.
& works well in 4x in times like this

got to go will look in later

TEB
  • #10
  • Dec 4, 2007 8:43am Dec 4, 2007 8:43am
Why was this moved?

TEB
  • #11
  • Dec 4, 2007 8:46am Dec 4, 2007 8:46am
10 pips more on the Usd/Jpy

TEB
  • #12
  • Dec 4, 2007 11:46am Dec 4, 2007 11:46am
Quoting harold4x
10 pip profit with 35 pip spread doesnt seem balanced

It's not; he's running a negative expectation that will eventually catch up to him. It's one of those trade lesons we all learn eventually. The key is, not to loose your enthusiasm for the job when these things catch up to you. Just keep grinding forward and take that knowledge with you.

At the end of the day you want a system that has a win % that is a little better than 50% and winners that are just a little bigger than loosers. Much beyond that, over years and years of trading (not weeks and months) isn't very likely.

Keep on with the work, you'll enjoy the ride if you hang in with it and are careful along the way.
Trade Small. Be Patient. Learn to Survive.
  • #13
  • Dec 4, 2007 11:50am Dec 4, 2007 11:50am
Quoting TEB63
I should say
Rob Booker has a very good E-book that is free with this Idea
He is a very good teacher and only trades this way.!?

It is very common system in other markets
that do not trend as well as 4x.
& works well in 4x in times like this

got to go will look in later

TEB
I've never seen any evidence that Rob tades consistantly at all; Rob came on the FX scene about the same time I did and was promoting the 10 pips a day model, every ounce of work I've ever done seems to indicate this isn't possible.

I'd be interested in knowing if anyone has ever seen a long term track record for him that supports this methodology?
Trade Small. Be Patient. Learn to Survive.
  • #14
  • Dec 4, 2007 12:39pm Dec 4, 2007 12:39pm
Quoting TEB63
Hi Guys

This is great
I am up over 500 pips in the last week & had just on bad trade.
everyone else seems to be dying

I have used a # of systems .. the system really doesn't matter.

what I do is make sure I am right with the day & 4 hour trend...
then only trade with it

then I look for the move in the 5 & 15 min charts to go away & come back with the trend.


I am bidding 3-5 lots

TP is 10 + spred
SL is 35

I am looking at every thing

I hope we stay like this till the new year !!!!


TEB

Hey TEB,

Ive been doing somthing similar the past few months. Although using the daily TF and 3HR TF to determine current trend due to Oandas platform. Ive been using a 5/12 EMA as a trigger on the 1 HR. Take profits have been entirely discretional, support resistance etc. Ive managed to take a 10$ account to 42$ trading micro lots. been lots of fun.

Heny
  • #15
  • Dec 4, 2007 3:31pm Dec 4, 2007 3:31pm
Quoting FXAnalytics
It's not; he's running a negative expectation that will eventually catch up to him. It's one of those trade lesons we all learn eventually. The key is, not to loose your enthusiasm for the job when these things catch up to you. Just keep grinding forward and take that knowledge with you.

At the end of the day you want a system that has a win % that is a little better than 50% and winners that are just a little bigger than loosers. Much beyond that, over years and years of trading (not weeks and months) isn't very likely.

Keep on with the work, you'll enjoy the ride if you hang in with it and are careful along the way.

no I am not

I am run in a none trending market !!
I understand this is problem, in normal 4X
& will switch back as soon as we start to trend

Oh I made a mistake my SL is 25 pips not 35 sorry
(where I am getting in I see it as 35pip)


Rob does make money & a lot of it!
I don't like to trade this way normaly.
& I am not saying people should trade the way he does.
I don't even like the 5/13/52 thing.
I was just saying some people use this idea to trade
That is all


TEB
  • #16
  • Dec 4, 2007 3:38pm Dec 4, 2007 3:38pm
Hello TEB63. I am fairly new to this and I find your post to be very interesting. I was just looking at EUR/USD and the 4 hour, and daily T.L 's are very clear but opposite( Daily :up $hr Down) would this be an example of one to stay away from?
What are you trading now?
Ross Baltimore Md
(Guitar player, Surfboard maker, proffesional musician)
  • #17
  • Dec 4, 2007 4:10pm Dec 4, 2007 4:10pm
Quoting rosssurf
Hello TEB63. I am fairly new to this and I find your post to be very interesting. I was just looking at EUR/USD and the 4 hour, and daily T.L 's are very clear but opposite( Daily :up $hr Down) would this be an example of one to stay away from?
What are you trading now?
Ross Baltimore Md
(Guitar player, Surfboard maker, proffesional musician)
yes!!
But the system I am using say they the day, 4 hour & hour are up
but I have the 15 & 5 mins down


  • #18
  • Dec 4, 2007 4:12pm Dec 4, 2007 4:12pm
Quoting rosssurf
Hello TEB63. I am fairly new to this and I find your post to be very interesting. I was just looking at EUR/USD and the 4 hour, and daily T.L 's are very clear but opposite( Daily :up $hr Down) would this be an example of one to stay away from?
What are you trading now?
Ross Baltimore Md
(Guitar player, Surfboard maker, proffesional musician)
what system are you using?

a simple 5 ema closed( blue ) over 5 ema open ( Red) on the day
& 4 hour will give the trend
or a 5 RSI on the day & 4 hour will do it as well

TEB
  • #19
  • Dec 4, 2007 4:35pm Dec 4, 2007 4:35pm
It's actually quite possible to be successful earning 10 pips a trade. Over the long haul, 10 adds up. An army starts with 1, but has supports of many. Don't knock the system till you try it. Then still don't knock it because it didn't work for you, it may work just as well for someone else.

The only concern I have for that system, which I'm using as well, but minimum 20 pips a day, $10 lots is that you let your profits run and cut your loses short. At 5:00 pm Eastern, if I have accumulated 20 or more pips, I've had a successful trading day. Here's what 20 pips a day over a month period of time can give you.

1 Lot x $10 x 20 x 20 (average trading days a month) = $4,000
  • #20
  • Dec 4, 2007 4:38pm Dec 4, 2007 4:38pm
Quoting TEB63
no I am not

I am run in a none trending market !!
I understand this is problem, in normal 4X
& will switch back as soon as we start to trend

Oh I made a mistake my SL is 25 pips not 35 sorry
(where I am getting in I see it as 35pip)


Rob does make money & a lot of it!
I don't like to trade this way normaly.
& I am not saying people should trade the way he does.
I don't even like the 5/13/52 thing.
I was just saying some people use this idea to trade
That is all


TEB
what proof do you have that rob makes money? I'm not saying he doesn't; I'd just like to see verification of it..
Trade Small. Be Patient. Learn to Survive.
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