I have now flipped my swing fibb light blue fibb to see the closes tear of resistance...
- #42
- Aug 4, 2008 2:52am Aug 4, 2008 2:52am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
I have now closed for 44 pips....
total for the night 24 pips....
lost 20 in long made 44 in short, this equals 24 for day...
Tomorrow I will post my trades once again...
Total for this week 24 pips.....
total for the night 24 pips....
lost 20 in long made 44 in short, this equals 24 for day...
Tomorrow I will post my trades once again...
Total for this week 24 pips.....
- #43
- Aug 4, 2008 9:33pm Aug 4, 2008 9:33pm
- Joined Jan 2008 | Status: Trader | 2,996 Posts
We already had our break of our intraday low...I simply wont take it because time of the day...if anything I will wait for a littel more to get a higher probabilty trade...we might also get a littel consolidation because not enough momentum...I will say when I take my next trade
- #44
- Aug 5, 2008 12:47am Aug 5, 2008 12:47am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Currently short in gbpusd...took the reak of the previous candles low..
- #45
- Aug 5, 2008 1:03am Aug 5, 2008 1:03am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
I am currently in a short in gbpusd...though if the previous candle high bake odds are I will be reversing...I wont wait for my swing fibb 61.8 to brake since I see this as price not whanting to stay below the intraday low and also finding support at the uptrendlong (38.2 fibb) I will let price tell me what to do...
I also dont whant to pick bottoms or tops since that would be having a Bias ...I will take a small Hit if I am wrong....
I also dont whant to pick bottoms or tops since that would be having a Bias ...I will take a small Hit if I am wrong....
- #46
- Aug 5, 2008 3:06am Aug 5, 2008 3:06am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
I have Now closed with 41 pips my short....
Total for week 65...
Total for week 65...
- #47
- Aug 5, 2008 3:49am Aug 5, 2008 3:49am
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #49
- Aug 5, 2008 4:31pm Aug 5, 2008 4:31pm
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #50
- Aug 5, 2008 6:30pm Aug 5, 2008 6:30pm
- Joined Jan 2008 | Status: Trader | 2,996 Posts
GBPUSD
1 hour chart
We have a bearish intraday but keep in mind the range price is bouncing between....we have doublebottoms formed at the bottom.....I will wait for later time to make sure I get the best signal in what direction the market is going to go.
I will post when I take my next trade
1 hour chart
We have a bearish intraday but keep in mind the range price is bouncing between....we have doublebottoms formed at the bottom.....I will wait for later time to make sure I get the best signal in what direction the market is going to go.
I will post when I take my next trade
- #51
- Aug 6, 2008 1:26am Aug 6, 2008 1:26am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Just got in short from price 9559....
I am watching price action as it heads down to support levels...I feel the need to reverse based on what I see I will say when I reverse...
I am watching price action as it heads down to support levels...I feel the need to reverse based on what I see I will say when I reverse...
- #52
- Aug 6, 2008 1:33am Aug 6, 2008 1:33am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Be aware of the triple bottom at the intraday low...If we begin to break previous candles high I will consider taking a small pop and scalping up against my intraday levels...
Don't know who is posting where, and what is what.
Just looked at the bot that I'm running. I must add, the bot isn't even 70% of how I trade but to take up the challange I converted my custom indicator to a bot.
The closed trades are negative, ie -$337.92
There is an open trade with a positive float of $1,025+
The bot will open only one trade at a time and I'm running it on a single pair, EURUSD.
Someone who posted his trades earlier, I think his name is Sultani or something. He is sort of following the rules, i.e not risking more then 2% per trade, but I think he is missing the point, because he is opening multiple trades with each risking 2% at a time. So if he opens 5 trades at one time each risking 2%, his total risk is 10%. And i've seen him open 7 trades at one time.
Regardless, he's in the black and hats off to him.
How is the defendent of the challange doing?
.
Saaedb
Just looked at the bot that I'm running. I must add, the bot isn't even 70% of how I trade but to take up the challange I converted my custom indicator to a bot.
The closed trades are negative, ie -$337.92
There is an open trade with a positive float of $1,025+
The bot will open only one trade at a time and I'm running it on a single pair, EURUSD.
Someone who posted his trades earlier, I think his name is Sultani or something. He is sort of following the rules, i.e not risking more then 2% per trade, but I think he is missing the point, because he is opening multiple trades with each risking 2% at a time. So if he opens 5 trades at one time each risking 2%, his total risk is 10%. And i've seen him open 7 trades at one time.
Regardless, he's in the black and hats off to him.
How is the defendent of the challange doing?
.Saaedb
- #55
- Aug 7, 2008 11:09pm Aug 7, 2008 11:09pm
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #56
- Edited 9:08am Aug 8, 2008 8:51am | Edited 9:08am
Someone who posted his trades earlier, I think his name is Sultani or something. He is sort of following the rules, i.e not risking more then 2% per trade, but I think he is missing the point, because he is opening multiple trades with each risking 2% at a time. So if he opens 5 trades at one time each risking 2%, his total risk is 10%. And i've seen him open 7 trades at one time.
Regardless, he's in the black and hats off to him.
Yes, there might be some that risk 5-6% open at one time, but I wouldn't consider 10-12% unrealistic either. I don't think that the money management I use is very risky compared to many traders out there. Mine would be considered moderate actually. So why am I sort of following the rules and missing the point? Was there a discussion that I missed that stated I couldn't risk a certain amount open at one time? If so, please inform me.
Thanks saeedb, but one of the rules of the competition was to use realistic money management, i.e. not use 50% for one trade. I only use 2-3% for each trade and I don't usually have more than 10-12% open at one time, meaning the maximum number of trades is usually 6. The 7 that were open was an exception, and you caught me red-handed.
Yes, there might be some that risk 5-6% open at one time, but I wouldn't consider 10-12% unrealistic either. I don't think that the money management I use is very risky compared to many traders out there. Mine would be considered moderate actually. So why am I sort of following the rules and missing the point? Was there a discussion that I missed that stated I couldn't risk a certain amount open at one time? If so, please inform me.
Like I said earlier, you're in the black and majority of the poeple out there can't make in the black or break even after a week. And hats off to you for your excellent work.
From my understanding, we were not allowed to risk more then 2% at any given time. If the rules changed, then I'm sorry about my earlier statement.
For me, if I want to go high risk money management, I wont risk more then 5%. But thats just my perspective.
How is your week ending?
Saaedb
Hey Soltani,
Like I said earlier, you're in the black and majority of the poeple out there can't make in the black or break even after a week. And hats off to you for your excellent work.
From my understanding, we were not allowed to risk more then 2% at any given time. If the rules changed, then I'm sorry about my earlier statement.
For me, if I want to go high risk money management, I wont risk more then 5%. But thats just my perspective.
How is your week ending?
Saaedb
The amount of risk that one uses for a single trade and for open trades at one time are two different figures in the articles and books I've read about money management. Of course it all goes back to the trader and depends on how much he/she wants to risk.
For this competition, I don't know if we have a clear cut definition of how much we should risk for one trade or trades open at the same time. I just thought that it should be reasonable. Since Magnumfreak started this competition, I think he should clarify more on this.
If what you say is correct and that we should've only risked 2% for each trade and all trades open, then I may be disqualified already.
I'm up 21% for this week and I've posted my statement here: http://www.forexfactory.com/showthre...47#post2155647
Great job Saaedb on your 22% increase! You're doing a tremendous job yourself.
