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  • #35,801
  • Oct 1, 2008 5:17pm Oct 1, 2008 5:17pm
Quoting acumen
He didn't make his first billion until he was in his mid thirties.

You got time.
shit.. I am 31... and still don't have that billion.. lol
  • #35,802
  • Oct 1, 2008 5:19pm Oct 1, 2008 5:19pm
Quoting psiholog
think of it this way. im still working on my consistency but im getting there. within 2 years max ill be making 150daily consistently..now some days i do make 150 or more but give it all back...clearly greed is an issue.

anyways my strategy is simple..150pips per day...1dollar pips for each 1000$ dollars...5$ pips for 5000$ dollars and so on....emotion is not something that affects me while trading anymore therefore increasing pip value is not an issue. in essence i can increase exponentially in a short period of time

the only problem i have which i am still struggling is the startup capital...i intend to win the ibfx contest in november though with a mini account start value 250$ so that will be my startup capital....50cent pips for the first week and 1dollar pips for the last 3 weeks...that increases a 250dollar account to 2850 in 4 weeks and probably the highest gain that contest ever saw...i know i can do it
yeah. that's a plan.
  • #35,803
  • Oct 1, 2008 5:19pm Oct 1, 2008 5:19pm
Quoting emda
shit.. I am 31... and still don't have that billion.. lol
yeah...crap...i have 5 years til i hit the big 30...hell i dont even need a billion...a million will do
  • #35,804
  • Oct 1, 2008 5:21pm Oct 1, 2008 5:21pm
Quoting psiholog
think of it this way. im still working on my consistency but im getting there. within 2 years max ill be making 150daily consistently..now some days i do make 150 or more but give it all back...clearly greed is an issue.

anyways my strategy is simple..150pips per day...1dollar pips for each 1000$ dollars...5$ pips for 5000$ dollars and so on....emotion is not something that affects me while trading anymore therefore increasing pip value is not an issue. in essence i can increase exponentially in a short period of time

the only problem i have which i am still struggling is the startup capital...i intend to win the ibfx contest in november though with a mini account start value 250$ so that will be my startup capital....50cent pips for the first week and 1dollar pips for the last 3 weeks...that increases a 250dollar account to 2850 in 4 weeks and probably the highest gain that contest ever saw...i know i can do it
Good Luck.

Mike
  • #35,805
  • Oct 1, 2008 5:27pm Oct 1, 2008 5:27pm
Would you mind sharing what is your strategy? I am interested in how you keep the drawdown that low.....very impressive.

Quoting acumen
Here's a screen print of my trades.

A whopping 19 PIPS.

The worst day this week and I'm happy.

Weekly total around 90... not going to win any PIP awards... but my max drawdown last month was 20 PIPS. This week... 9 PIPS. (drawdown)

You can see I didn't trade the trend line break... my azz was passed out on the bed and I didn't wake up until 8:20am when half the move was over.

I did notice some insider trading though - seems like a lot of traders were short prior to the release...HMMMMM???

Either way - my trading goal is different from most.

I'm more interested in capital preservation than I am about missing a trade or move.

PS - How many traders on this site or any other would be willing to post their trades day after day...month after month? Very few? Why? Most on this forum don't win every day or even every week... most are full of shit.
Your goal should be consistency. Learn to take money out of the market day after day.
  • #35,806
  • Oct 1, 2008 5:35pm Oct 1, 2008 5:35pm
Quoting SeaPip
Would you mind sharing what is your strategy? I am interested in how you keep the drawdown that low.....very impressive.
http://www.thefxpivotpoint.com/Videos.htm

Watch the video Pivot Point System.

Then watch the videos for each month.

It won't take long to get the feel of the system.

Mike
  • #35,807
  • Oct 1, 2008 5:39pm Oct 1, 2008 5:39pm
Thanks I will do that later tonight. May I ask how long have you been trading the pivot system???


Quoting acumen
http://www.thefxpivotpoint.com/Videos.htm

Watch the video Pivot Point System.

Then watch the videos for each month.

It won't take long to get the feel of the system.

Mike
  • #35,808
  • Oct 1, 2008 5:39pm Oct 1, 2008 5:39pm
I want to try a new strategy on eurusd... and maybe I create a journal to register all the trades... but first I want to optimize the stop an targets... targets are going to be larger than stops.. and probability of good trades bigger than 50%... with that combination.. it is nearly impossible to not win.
  • #35,809
  • Oct 1, 2008 5:41pm Oct 1, 2008 5:41pm
Quoting acumen
http://www.thefxpivotpoint.com/Videos.htm

Watch the video Pivot Point System.

Then watch the videos for each month.

It won't take long to get the feel of the system.

Mike
is that your site acumen?
if it is.. you should consider putting more videos of recent weeks.. not 2007.. but is a nice and keep it simple strategy and site.
  • #35,810
  • Oct 1, 2008 5:42pm Oct 1, 2008 5:42pm
Quoting SeaPip
Thanks I will do that later tonight. May I ask how long have you been trading the pivot system???
I've been trading with pivots and psyches for about 3 years.

Prior to that... you name it I've tried it... and failed.

I've been trading for a decade... equities then currencies.

Mike
  • #35,811
  • Oct 1, 2008 5:44pm Oct 1, 2008 5:44pm
my avatar reveals one of the best strategy published here on forexfactory... not followed by many.. don't know why... it's called stochastic threads theory
I enter in the direction of the ropes when it crosses 50 level.
  • #35,812
  • Oct 1, 2008 5:44pm Oct 1, 2008 5:44pm
Quoting emda
is that your site acumen?
if it is.. you should consider putting more videos of recent weeks.. not 2007.. but is a nice and keep it simple strategy and site.
It's very time consuming.

I doubt I can post videos nightly but I'll see what I can do.

Mike

PS - Thanks for the compliments.
  • #35,813
  • Oct 1, 2008 5:45pm Oct 1, 2008 5:45pm
Quoting emda
my avatar reveals one of the best strategy published here on forexfactory... not followed by many.. don't know why... it's called stochastic threads theory
I enter in the direction of the ropes when it crosses 50 level.
Do you use it exclusively?
  • #35,814
  • Oct 1, 2008 5:46pm Oct 1, 2008 5:46pm
I think EURUSD is going to 1.4050.. where is my pivot level of new day.
  • #35,815
  • Oct 1, 2008 5:47pm Oct 1, 2008 5:47pm
Quoting acumen
Do you use it exclusively?
no.. that's for the 4H timeframe sub account only.
  • #35,816
  • Oct 1, 2008 5:49pm Oct 1, 2008 5:49pm
Quoting acumen
It's very time consuming.

I doubt I can post videos nightly but I'll see what I can do.

Mike

PS - Thanks for the compliments.
I said it because maybe market conditions have changed since 2007... more volatility now.. etc..... I know it is time consuming. I'm downloading the videos now.. I'll tell you what I think.
  • #35,817
  • Oct 1, 2008 5:52pm Oct 1, 2008 5:52pm
..... but I see nothing new!

I have no positions open.
Until 1.39 I favour shorts.
I will enter around 1.4066/88, all depends at what time price reach my short entry line.
Let's see if price will not break that line, if yes, so wait more 120 pips to the upside.
  • #35,818
  • Oct 1, 2008 5:55pm Oct 1, 2008 5:55pm
is the vote in 5 minutes?
  • #35,819
  • Oct 1, 2008 5:57pm Oct 1, 2008 5:57pm
Supposedly, but you know the politicians, 5 min can be 30 min.........



Quoting emda
is the vote in 5 minutes?
  • #35,820
  • Oct 1, 2008 5:58pm Oct 1, 2008 5:58pm
could be a large bullish flag in USDJPY... 1H... but I don't see any bullish sign on EURJPY... so I'm bearish for EURUSD... just need the news of the bailout to break... I'm flat now.. let's see what happens...
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