the key to the mint

while we got some time i would like to share the model for which i do money management which is vital to surviving this business. first let me say a few things there is long term trading which is hold an equity for months and years, intermediate is weeks and months and short term is days and some time weeks when it comes to day trading and thats what this is no matter what method you use its all scalping the market. whether you trade 1 minute charts or 4 hr charts its still scalping which realy means grabbing a piece of the fluctuations of the market. there are many methods to do this but unless you know this you will not know how to manage the money. the only thing a trader knows 100% of the time before he puts on a trade is this how much is he willing to risk if he is wrong. thats the only thing we know we are looking for high probability setups but still its not 100% i personaly risk between 3-5% per trade. you might ask why 3 and not 4 or just 5. sometimes stop is 40 pips so in that case its 4% on gbpjpy its 5% on the ones where i can have a 30 pip stop its 3% except for the gbpjpy i look to get 30 pips now some may say poor risk to reward when scalping how does rr take place since the stops are always different etc. my trading style is solely based on wins and loses so if i have a 40 pip loss and 3 30 pip wins i am plus 50 well enough about that lets get to the mm. lets use a starting balance of 10000 which is how i started. lets say you average 100 pips a week of 400 a month start trading at 1 standard lot or 10 minis thats 10.00 a pip ( i know the crosspairs are a little less you can adjust with 1 more mini lot) so 400 pips times 10.00 is 4000 so now after 1 month you have 14000 so 3% of that is risking 420.00 so start trading at 14 mini lots or 14.00 a pip you can make adjust each wekk i do it at the end of the month. as you can see this begins to mushroom where you can begin to draw a salary after 3 months of 3000 a month and each month after you can increase . now lets not get visions of granure this is hypothetical but possible if you plan your trade then trade your plan and dont deviate from it enough for now

hi mikep i sent you an pm and email you get it

Hello pointed out that the indicator doesn't work with mini accounts. I added an input to change to true if your account is mini. Not to muddy the waters here but I also added the ability to change the higher and lower timeframes. It's set to the original settings as per Harold4x.

If anyone wants to mess with lower timeframes.......

Good work. Thank you very much for sharing

This is the best method I have ever seen. Just wanted to say thanks.

Using this method is the best that I have ever done.

Being on the right side of the trade, is very refreshing. Waiting til the 1 hr lines up with the daily.

Why is the Dinapoli, so accurate?

Method is good in that, youre not so worn out, like you are when scalping. Just the right amount of input and cogitation is needed.

Then once you see the set-up........set and forget, sort of, if you want to.......then, enter stop and enter the take profit... or you can baby sit the trade....watching to see if it retraces....

You can watch trade....and just take 20 pips...or you can let it run to 60pips.....etc...

Ive been doing this for a long time.....and its the best ive seen..

I still wonder why the Dinapoli is so much better?

thanks harold4x,for posting this great system, though new here and uses northfinance platform, I have backtested it with Eur/chf and found the system great and really key to the mint how ever still doing additional findings on it and hopes to add this to my arsenal. I discovered something with my macd (I use Fast ema=5, slow= 13 and Macd sma=1) the formation ussual coincides with the macd crossing zero line or almost there. I am still working further on other observations. thanks for your good work. Somebody can check this macd out. see ya.

morning all a dismal night got hit for 2 losses eurjpy and gbpchf it happens thats why its trading now waiting for the next bus to come in total so far this week is +100

maybe at close of 1300 candle we will get a signal

Hi,

I am new to this thread. I have been looking at this system and I think its really useful. I might not use it to actually execute trades, but where I think its really useful is in confirmation of the trend.

I would probably then look for price action to confirm.

I will update you on how it goes.

Verno

hi verno it is not only useful it supports my family lol

lazy i answered your pm and maybe by 1400 candle we get something as week is coming to an end

Hi! Thank you, I understood. Guess I didn't see the reply written there. Thanks again

I see that maybe GBPCHF may be getting itself ready for a cross up, let's wait

well it looks like thats it for the week a reasonalble +100 markets are in consolidating stage, end of year, indecision what have you the key is still making money during this time when markets begin to trend is where the 100 pips a week turn to 200+ a week stay tuned see you guys sunday have a good week end

Question do you place the trade after the candlestick with the up arrow has closed and enter at the open of the following candlestick or do you enter as soon as you get the upwards arrow. Thanks

Wait until the close of the candle. If you enter when it crosses, it will give you way too many false signals.

So for instance currently on the GBP/CHF i have a green arrow would i wait until the next candlestick is formed and place a market order.

gbpchf looking good. thanks harold 4 ur efforts, it complements my own trading style. trade well all.

The thread is not even a month old.... Post #1: Nov 21, 2007 2:31am

How on earth can you judge a system that hasn't even got a one month track record??? Insane....

Yes... if the cross is confirmed and the price didn't retrace (as it did). But remember it's Friday, the weekend is near, so you need to be careful.

Ok Thanks