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Part Time Wealth Building Trading System - Weekly Scalping

  • #321
  • Jan 16, 2007 3:27pm Jan 16, 2007 3:27pm
If you set up an email address with Bluebottle. com you can get alerts to your phone using MT4. I just set it up, works great.
  • #322
  • Jan 16, 2007 4:32pm Jan 16, 2007 4:32pm
To get those alerts? I really thank you for that information! I will gather that information ... so that when I am ready to go live I won't miss a beat. I was thinking with a cell alert .... you could be on 2 weeks vacation and still get the alerts and call your Broker and you are set! What you think of that idea? Also if you had an EA maybe could get cell alerts from the EA ... not sure if the EA would have to be on at all times. I guess so ... thinking out loud here. Anyone here that has all the answers? appreciated!

Thanks,

ut2DaMax

Quoting marcf
If you set up an email address with Bluebottle. com you can get alerts to your phone using MT4. I just set it up, works great.
  • #323
  • Jan 16, 2007 4:46pm Jan 16, 2007 4:46pm
I believe your pc does need to be on...I haven't tested that yet. Yeah, it would be good if we can have an EA for this.

Thanks..

Marc

Quoting ut2DaMax
To get those alerts? I really thank you for that information! I will gather that information ... so that when I am ready to go live I won't miss a beat. I was thinking with a cell alert .... you could be on 2 weeks vacation and still get the alerts and call your Broker and you are set! What you think of that idea? Also if you had an EA maybe could get cell alerts from the EA ... not sure if the EA would have to be on at all times. I guess so ... thinking out loud here. Anyone here that has all the answers? appreciated!

Thanks,

ut2DaMax
  • #324
  • Edited 5:20pm Jan 16, 2007 5:01pm | Edited 5:20pm
I will have someone make one for me .... if no one else shares one for this. Once I am sure of how I want the settings. I think eventually someone will offer to make one for this. Think how nice that would be ..... we would not only be ROBOTS ... but the EA would be as well. I like it!

Did tkimble, post what his monthly averages are in pips? We will have down weeks ... but so does any system. I say many thanks, tkimble, for being so kind and sharing this system with us! We will make this work ... variences or not.

Thanks

ut2DaMax


Quoting marcf
I believe your pc does need to be on...I haven't tested that yet. Yeah, it would be good if we can have an EA for this.

Thanks..

Marc
  • #325
  • Jan 16, 2007 5:52pm Jan 16, 2007 5:52pm
I don't know how everyone else is doing but my first entry was long at
1.9636 with my s/l at 1.9586
(i prefer a 50 stoploss on gbp/usd too much whipsawing and also i knew big news week this week so adjusted for it)

currently im sitting on -31 pips but i have yet to be stopped out even though i came within 2 pips of it earlier yesterday

my high was 55 pips when uk cpi news came out in the am at 4:30

hope everyone is enjoying this system think that this is probably just one of those consolidation weeks because market still recovering from past two weeks i mean we got from 9700 to 9260 and back up to 9600 in like 2 weeks thats fast paced. Well prob see more success next week with this trading method.
gl all
  • #326
  • Jan 16, 2007 6:50pm Jan 16, 2007 6:50pm
Quoting theodore
I don't know how everyone else is doing but my first entry was long at
1.9636 with my s/l at 1.9586
(i prefer a 50 stoploss on gbp/usd too much whipsawing and also i knew big news week this week so adjusted for it)

currently im sitting on -31 pips but i have yet to be stopped out even though i came within 2 pips of it earlier yesterday

my high was 55 pips when uk cpi news came out in the am at 4:30

hope everyone is enjoying this system think that this is probably just one of those consolidation weeks because market still recovering from past two weeks i mean we got from 9700 to 9260 and back up to 9600 in like 2 weeks thats fast paced. Well prob see more success next week with this trading method.
gl all
These are my results as well - I have no idea how tkimble is up 200+ pips on this week - I'm down 31, was down 5 earlier as my stop was up 26, but has retraced to about even. There has been minor movement this week after the first few hours - and as I noted earlier I don't know if IBFX allows pre-opening positions in demo. accounts. Thanks

Kent F.
  • #327
  • Jan 16, 2007 7:10pm Jan 16, 2007 7:10pm
Hello kentf - where says it tkimble had got 200 pips til now this week plz? I dont see post? For me myself close is 1.9586 and i buy 1.9636 and stopped 1.9606 and am lost 30pips.

DW



Quoting kentf
These are my results as well - I have no idea how tkimble is up 200+ pips on this week - I'm down 31, was down 5 earlier as my stop was up 26, but has retraced to about even. There has been minor movement this week after the first few hours - and as I noted earlier I don't know if IBFX allows pre-opening positions in demo. accounts. Thanks

Kent F.
  • #328
  • Jan 16, 2007 7:16pm Jan 16, 2007 7:16pm
Quoting driftwood
Hello kentf - where says it tkimble had got 200 pips til now this week plz? I dont see post? For me myself close is 1.9586 and i buy 1.9636 and stopped 1.9606 and am lost 30pips.

DW
My apologies DW and tk - I was reading this in the other thread of tkimble:
l
Quote
Should Now Be Short at 1.9606 GBP/USD
If following this system, you should now be short at 1.9606 from the long of 1.9359 on 11 Jan 06 at 1000 GMT. This equates to at 247 PIP profit...

Happy Trading,

Tkimble

That was in the non-weekly tkimble thread - sorry again. It did have me baffled - now I know why - different strategy..

Kent F.
  • #329
  • Jan 16, 2007 8:31pm Jan 16, 2007 8:31pm
well im lost also. Any help is appreciated. fri close 1.9588 long entry @ 1.9638. moved sell to 1.9588 weekly close. stopped out at 1.9608 I am not in a trade at this point. should i have set another long entry and at what price? thanks George B
Quoting theodore
I don't know how everyone else is doing but my first entry was long at
1.9636 with my s/l at 1.9586
(i prefer a 50 stoploss on gbp/usd too much whipsawing and also i knew big news week this week so adjusted for it)

currently im sitting on -31 pips but i have yet to be stopped out even though i came within 2 pips of it earlier yesterday

my high was 55 pips when uk cpi news came out in the am at 4:30

hope everyone is enjoying this system think that this is probably just one of those consolidation weeks because market still recovering from past two weeks i mean we got from 9700 to 9260 and back up to 9600 in like 2 weeks thats fast paced. Well prob see more success next week with this trading method.
gl all
  • #330
  • Jan 16, 2007 9:25pm Jan 16, 2007 9:25pm
Quoting Taters
this makes 4 stop outs in 24 hours plus another one on EUR (ok I know EUR is not a specified currency, but still...) For a low trade system, I'm getting whipsawed to death. i hope this is an anomaly because I cant take this every week! Is it just me/ my broker? Or is anyone else getting beat up? i think I picked a bad week to start this system... And this is why I don't like systems on message boards in general- I will follow one to a T, it burns through my account then I'm skittish about following it again waiting for a "good" week.
i know we are not supposed to count our pips until Friday but...

Taters, i need to reply. Yup you are whining. Following the system? no you aren't. Trading the EUR which this isn't for. So you can't say you are trading it. WHy aren't you trading the GBP? Right now most of us trading this made good money last week, and have been stopped out once and now in the second leg of this week long trading adventure. That is what is happening with this system right now.

It is so important to take a system, define it, and then trade it. Can't change it, or give up in the middle of a trade.

Personally i am trading the GBP exactly like the system sez, and will continue. We are in the middle of a trade for this week so we can't say how we will end up. Again, we must learn to take what the market gives us. I'm also trading the GBP/Yen but won't judge this system based on its' success or failure . Right now though it looks like a good pair as well.

Discipline and patience. We must put it to work and let it keep working.

What is hard for all of us is to remember that one trade lasts one week!

Good trading,

Jim No



Good Trading
  • #331
  • Jan 16, 2007 11:56pm Jan 16, 2007 11:56pm
according to the method, you would now place a buy again @ 1.9638. I hope you are paper trading yet. Make sure you understand the tkimble Method. I would go back through the whole Thread and reread it all.

Reread post #149 by tkimble also. Also Money Management ( # 23) IMO

Thanks

ut2DaMax



Quoting George B.
well im lost also. Any help is appreciated. fri close 1.9588 long entry @ 1.9638. moved sell to 1.9588 weekly close. stopped out at 1.9608 I am not in a trade at this point. should i have set another long entry and at what price? thanks George B
  • #332
  • Jan 17, 2007 1:07am Jan 17, 2007 1:07am
GBP/USD ... bid went right up to 1.9637 and then backed off again. That is close! I do wish it would make up its mind for those trading it live! LOL Some of you using the Method might have another buy initiated already ....
  • #333
  • Jan 17, 2007 2:35am Jan 17, 2007 2:35am
Hi,
Here are the results from my calculations based on tick by tick data for 2006
Feb is screwed because I have lost the tick data from the first 2 weeks.

http://www.newstrader.be/results.jpg

These calculations are made with the rules on this forum as I understand them. I always reentered with a 30 pip stoploss.
Jan week 2 and june week 3 hit the bigest drawdown. 13 times stoploss got hit. Still looks like a great system with +3000 pips yearly profit.
Thanks Tkimble
  • #334
  • Jan 17, 2007 2:43am Jan 17, 2007 2:43am
made these calculations on GBP/USD
  • #335
  • Jan 17, 2007 2:44am Jan 17, 2007 2:44am
most peeps must be long again now

Quoting ut2DaMax
GBP/USD ... bid went right up to 1.9637 and then backed off again. That is close! I do wish it would make up its mind for those trading it live! LOL Some of you using the Method might have another buy initiated already ....
  • #336
  • Jan 17, 2007 7:39am Jan 17, 2007 7:39am
Climax,

Where is your tick data from? Just curious.

Thanks.
Life is too short to have anything but delusional notions about yourself.
  • #337
  • Jan 17, 2007 8:26am Jan 17, 2007 8:26am
I've been long since last night @ 1.9650.
  • #338
  • Jan 17, 2007 9:14am Jan 17, 2007 9:14am
  •  Trader#0000
  • | Status: Unregistered Trader
I'm long at 1.9638.

Just my 2 cents: I think the GBPUSD is maxed out atm so I dont expect much from the long side for this week...
  • #339
  • Jan 17, 2007 10:18am Jan 17, 2007 10:18am
My short position was stopped out - my long position is now up 52 pips. Down 12 pips for the week. Think it's safe to say I'm butchering my re-entries on this my first week of it - need to read up on thread more for stop loss re-entries.
  • #340
  • Jan 17, 2007 10:35am Jan 17, 2007 10:35am
same here -trade 2

DW



Quoting ForexDude2
I'm long at 1.9638.
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