the key to the mint | Page 56 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Linux Mint and MT4 12 replies

EA Key - Any example how to validate a key 3 replies

Need help with key to mint alert indicator 3 replies

Key Times 9 replies

Attachments: the key to the mint
Exit Attachments

the key to the mint

  • #1,101
  • Jan 3, 2008 8:11am Jan 3, 2008 8:11am
If you trade when it crosses over, it means that you will not get the signal until the next hour candle starts.

If you trade when it has not cross over, it means that the current hourly candle is still in progress. I had gotten burned doing this where the MAs crossed, but when the next candle started, the MAs never crossed.

Either way, you are hoping that the hour will continue in your favor to make some PIPs.
  • #1,102
  • Jan 3, 2008 8:15am Jan 3, 2008 8:15am
Quoting et_phonehome_2
If you trade when it crosses over, it means that you will not get the signal until the next hour candle starts.

If you trade when it has not cross over, it means that the current hourly candle is still in progress. I had gotten burned doing this where the MAs crossed, but when the next candle started, the MAs never crossed.

Either way, you are hoping that the hour will continue in your favor to make some PIPs.
the trades were not taken before crossover but afterwards. wait for the candle to close and enter at open of next candle, basic rule that is. i might have entered half way thorugh next candle or maybe even two candles later, when i opened my platform up and checked the conditions were in place.
The quality of your life is brought about by the quality of your thinking.
  • #1,103
  • Jan 3, 2008 8:22am Jan 3, 2008 8:22am
lots of chatter today nice to see people getting a good handle on this pretty soon you wont need me because you will be able to fish on your own which was my goal from the outset. well there seems to be only 1 losing signal this morning of course i had it every other one was a win. the philosophy of letting profits run is good but here is 1 question if you are in profit and then you move stop to break even and you go up 30 and then it hits stop you made nothing and if you did that 3 times you still would make nothing on the 4th time you make 100 so whats the difference of me getting 30 4 times to your 100 once? the only thing we know in trading is this how much are we willing to lose on this trade. that is all we know the rest no matter what strategy there is on planet earth is just speculative. so based on that thats why i grab 30's since i dont have that magic indicator to let me know when price will immediatly turn around. basicly to win in this game you need consistency. so if you find something where you can be right 60-70% of the time you stick with it and manage the game i am so glad that everyone scored today i did put 1 more trade on it was kind of a revenge trade on the eurcad so i picked up another 30 today i made 70 so for this week i am +40 concidering yesterdays rookie mistakes i consider myself fortunate
  • #1,104
  • Jan 3, 2008 8:30am Jan 3, 2008 8:30am
nicely done, harold. I also took the loss on eurcad but had 4 winners. I took a trade on gbpusd because my data had a valid short signal yesterday. Made a rookie mistake placing a limit order when i wanted a stop and exited early for only +15 pips on that one. Overall a very nice day +100pips.
  • #1,105
  • Jan 3, 2008 8:32am Jan 3, 2008 8:32am
marty you need to post more you are secretly making very good trades and making money which is what this is all about right?
  • #1,106
  • Jan 3, 2008 8:37am Jan 3, 2008 8:37am
first of all, nice meeting you harold and thanks for sharing this strategy.

on the issue of setting a TP or waiting for best place to close trades there's "fors and againsts" for both options. it depends on your trading style and experience.

when you move your stop to breakeven after having closed part of your position out what are you risking ? nothing ! the worst that can happen is to keep the profits you already made and come out flat on the rest. you get a free ride...while trying to maximize the open part of the position.

nothing will tell you if there's going to be a massive turnaround (usually on some news release) but Price Action combined with S/R and FIBO levels do forewarn you, in the majority of cases, if the move is extinguishing and a retracement might be on the cards.
The quality of your life is brought about by the quality of your thinking.
  • #1,107
  • Jan 3, 2008 8:40am Jan 3, 2008 8:40am
OK...I am going to ask a strange question here...

I live in the Eastern time zone in the US...so the close of the 6 GMT candle is 2AM for me. At 2AM, I put in my trades and then get some sleep. If the trades win, no problem. But if the trades lose, I try to get up and continue trading because that seems to be working for most everyone else.

Problem is...erratically waking up in the morning to do some trading really does not make me a happy person. No matter how many times I tell myself before going to bed that I will get up, even if I do wake up, it is tough. Seems like the only option is to rearrange my schedule to be up when trading.

Surely I am not the only one who wrestles with this. Is this lack of discipline? Lack of desire? Was wondering if someone had any advice on how they handle this odd forex trading time.
  • #1,108
  • Jan 3, 2008 8:42am Jan 3, 2008 8:42am
of course you are free to choose what ever management you like i am not a fan of taking portions off my mm is based on wins and losses. my goal is to consistently make between 300-500 pips a month. to me its very easy to manage paying my bills with that especially the lot size i use. i know the pros and cons of differing methods i choose this one easier in my opinion to reach my goal with less time in front of computer. i hate staring at the screen for mulible hours here i put trade on and walk away
  • #1,109
  • Jan 3, 2008 8:47am Jan 3, 2008 8:47am
aboutusnow what do you think i do i have alerts set to my phone once i get up i put trade and go back to bed but today my trade ended at 700 gmt time or 3am i am also on east coast but at 7 the gbpjpy trade came and by the time that trade ended the eurcad trade came then i put that on and went back to bed. from my obervation the first signals that happen at the close of 600 gmt (2am est) seem the be the best of the bunch
  • #1,110
  • Jan 3, 2008 8:51am Jan 3, 2008 8:51am
Well, we've had two good days in a row, thats for sure but i feel its better to trade a bit nervously than being over confident. I am trying to stick with your method as closely as possible with a little extra "maximize profits" thrown in if I am able to sit and watch the action.
I sense a bit of competition on the thread with people trying to see who can get the most pips. Mixed feelings on this. Consistency is the "key to the mint".
Quoting harold4x
marty you need to post more you are secretly making very good trades and making money which is what this is all about right?
  • #1,111
  • Jan 3, 2008 8:55am Jan 3, 2008 8:55am
its ok marty when people experience that this is a marathon and not a sprint they will readjust there thinking until then its the school of hard knocks
  • #1,112
  • Jan 3, 2008 8:58am Jan 3, 2008 8:58am
Quoting martyman
I sense a bit of competition on the thread with people trying to see who can get the most pips. Mixed feelings on this. Consistency is the "key to the mint".
If you are referring to my observations and comments, I am sorry if it came across that way. I am not competing with anyone nor want to change the strategy. I am just trying to offer my opinion and discuss on how we could maximize profits. As I said these were only demo trades so I am not showing off or anything like that.

If my comments are not welcome just let me know and I will soon be off this thread.
The quality of your life is brought about by the quality of your thinking.
  • #1,113
  • Jan 3, 2008 9:03am Jan 3, 2008 9:03am
Quoting hornet
If you are referring to my observations and comments, I am sorry if it came across that way. I am not competing with anyone nor want to change the strategy. I am just trying to offer my opinion and discuss on how we could maximize profits. As I said these were only demo trades so I am not showing off or anything like that.

If my comments are not welcome just let me know and I will soon be off this thread.
No, no not at all. Please feel welcome here. Your input is appreciated.
  • #1,114
  • Jan 3, 2008 9:04am Jan 3, 2008 9:04am
hi hornet settle down i understand your zeal for trading and trying to help its well appreciated if you make money doing it the way you are doing mazel tov i have just introduced a method to the forex community that i trade and make money with. everyone is free to copy it change it throw it away or whatever thats ok to if someone make 1000 pips a month a i only make 400 thats terrific ( can you loan me a few bucks lol)
  • #1,115
  • Jan 3, 2008 9:08am Jan 3, 2008 9:08am


we can all learn from others experience and work together towards a common goal. That is all I am offering and, all I want in return.
The quality of your life is brought about by the quality of your thinking.
  • #1,116
  • Jan 3, 2008 9:15am Jan 3, 2008 9:15am
Quoting aboutusnow
OK...I am going to ask a strange question here...
I think its a bit of discipline and sacrifice. At first when I started following this thread I tried to catch a few trades in the morning (CST here) but quickly saw that I was missing alot overnight. I then started going to bed earlier and would get up every hour to see if there were any alerts. It got easier for me after I was able to get the alerts sent as text messages to my phone. Now I go to bed about 9pm so I can get a little sleep before the first alert "might" come. I do find that I might take a nap in the afternoon. Having said that, I have been between jobs for a few weeks so I have the ability to do that. I start a new job on Monday so I will probably use more of a set and forget method as opposed to getting in a trade and monitoring it. I also trade from a laptop and plan on getting it set up next to my bed!
  • #1,117
  • Jan 3, 2008 9:15am Jan 3, 2008 9:15am
hornet than thats the goal you are looking to achieve good goal let me encourage you and everyone else when you have come up with what ever method you plan to take to do live trading then stick to that plan dont deviate or incorporate anything. just plan your trade and then trade your plan. many people after a few losses jump ship and go searching on these forums for the ultimate winning machine and they keep searching and searching trading is hard if you do it that way. find something that has a good win loss consistency find a money management method and stick to it. we are all fans of some sports team do we jump ship when there are losing streaks? wish i did i am a ny jet and met fan LOL
  • #1,118
  • Jan 3, 2008 9:23am Jan 3, 2008 9:23am
GY TP +182 pips
EJ TP +78 pips
GC TP +107 pips
AJ closed it +72 pips
GU closed for +40 pips

Total for the day +479pips (4,410$)

hi senior hornet,could u pls give me the thread link to the system that delivers these wonderful pips into your account!!!!
  • #1,119
  • Jan 3, 2008 9:26am Jan 3, 2008 9:26am
Quoting sheglinx
GY TP +182 pips
EJ TP +78 pips
GC TP +107 pips
AJ closed it +72 pips
GU closed for +40 pips

Total for the day +479pips (4,410$)

hi senior hornet,could u pls give me the thread link to the system that delivers these wonderful pips into your account!!!!
this thread here
The quality of your life is brought about by the quality of your thinking.
  • #1,120
  • Jan 3, 2008 9:33am Jan 3, 2008 9:33am
Hi Hornet..... what a great pips you locked into..... care to share your secret of reading all those charts..... first step..... second step.... third step... bla....bla.. bla...

Have a look at your template if possible as well...

Thank you...
0 traders viewing now