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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #128,461
  • Oct 29, 2008 5:20pm Oct 29, 2008 5:20pm
Quoting vinesh2
Well I am sure 70 trades a day works for you but in the long run I think the more you trade the more you get exposed to the market and more you get stressed and emotional and more the chances of getting hit with a loss. It only takes one loser trade to wipe out 5 winning trades. All I am saying is that overleveraging is a bad idea in the long run sure its good to make money every few hours but its not fun when one stubborn trade can wipe out your account.
I believe that lilmoe and malcolmb can handle themselves
  • #128,462
  • Oct 29, 2008 5:23pm Oct 29, 2008 5:23pm
Quote
Personally taking these guys tips I have had my best 24 hours ever +800 pips (TY BTW) risk 2% doesnt seem that risky..

I couldn't agree more, there are so many good knowlegable traders on this thread, I think we're pretty lucky to watch and learn from them.
  • #128,463
  • Oct 29, 2008 5:24pm Oct 29, 2008 5:24pm
Quoting rogerdoger
I believe that lilmoe and malcolmb can handle themselves
i mean if spreads were better I would be trading this 60 pip range on the 1 min right now ... lol that would equate to 6 trades....lol

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 19 KB
Blogging daily now at www.volume.zone
  • #128,464
  • Oct 29, 2008 5:29pm Oct 29, 2008 5:29pm
Jimbop what i meant by overleverage was putting multiple trades at any given time. Overtrading means you keep trading even after you have reached your goal for the day, week or month. Overtrading often leads to losses and eventual margin calls. I am sure Malcolb and Lilmo are excellent trades just ask them how much sleep do they get. All I am saying and mostly for new traders is have a goal if you achieve it in 2-3days or even 2-3 hours stop trading. Greed will only lead to failure. Market is always going to be there.
  • #128,465
  • Oct 29, 2008 5:36pm Oct 29, 2008 5:36pm
Quoting vinesh2
Jimbop what i meant by overleverage was putting multiple trades at any given time. Overtrading means you keep trading even after you have reached your goal for the day, week or month. Overtrading often leads to losses and eventual margin calls. I am sure Malcolb and Lilmo are excellent trades just ask them how much sleep do they get. All I am saying and mostly for new traders is have a goal if you achieve it in 2-3days or even 2-3 hours stop trading. Greed will only lead to failure. Market is always going to be there.
More trade u take quicker u learn patterns, fake setups, demand/supply spots

With proper MM there is no way to lose money.

1 won trade = 4 i can lose in a row (what is 200 pips these days ?)
2 won trade in a row = 8 lose in a row
and so on ....
  • #128,466
  • Oct 29, 2008 5:37pm Oct 29, 2008 5:37pm
Quoting vinesh2
Jimbop what i meant by overleverage was putting multiple trades at any given time. Overtrading means you keep trading even after you have reached your goal for the day, week or month. Overtrading often leads to losses and eventual margin calls. I am sure Malcolb and Lilmo are excellent trades just ask them how much sleep do they get. All I am saying and mostly for new traders is have a goal if you achieve it in 2-3days or even 2-3 hours stop trading. Greed will only lead to failure. Market is always going to be there.
And I know you are only trying to be helpful, but I honestly believe in the Savy of these traders. There is alot to be said for your mm advice for noobs too Peace
  • #128,467
  • Oct 29, 2008 5:40pm Oct 29, 2008 5:40pm
Quoting vinesh2
Jimbop what i meant by overleverage was putting multiple trades at any given time. Overtrading means you keep trading even after you have reached your goal for the day, week or month. Overtrading often leads to losses and eventual margin calls. I am sure Malcolb and Lilmo are excellent trades just ask them how much sleep do they get. All I am saying and mostly for new traders is have a goal if you achieve it in 2-3days or even 2-3 hours stop trading. Greed will only lead to failure. Market is always going to be there.

sleep .... what is that ...

I typicaly only trade US session ..... 8 hours in the market but MOSTLY only 4 .... I seem to be able to rack up 100 - 300 pips in my 4 hours these days.

V is right though .... if you want to make 50 pips a day and you get it in the 1st 5 min of sitting down to trade ... feel lucky that you have the rest of the day off to enjoy life.

do a spread sheet ..... say you risk 50 pips per trade and that is 2% of account and you wait for the pereft trade to make 20 pips ( hope fully more than that) ... but by making only 20 pips a day 5k grows to 250 k in 2 years , make 40 pips a day it is a cool mil plus.
Blogging daily now at www.volume.zone
  • #128,468
  • Oct 29, 2008 5:43pm Oct 29, 2008 5:43pm
Quoting malcolmb14
you are right ... you have to trade with no emotion .. and to adhere to good MM . There will never be another market like this in my lifetime and I plan to make the most of it., Some of the trades / moves we see in an hour took a month before. In a slower market I like to do my 30 -50 pips a day , but knowing that I can go in with 20 or 30 lots and not have some crazy 100 pip reversal. In this market I go in with smaller position more often. Once i get 30 or 40 pips i take half off and move stop to be +1 other half .. it is a free trade / no stress.

If 1st 2 trades of day are losers I stop trading it is a good sign I am not in the right head space for the day

My stops are 45 pips on all trades ... soo if 1st 2 trades give me 200 I have to do 5 losing trades in a row.

as you can see form this forum my calls are fairly accurate .. just simply using 30 pip lines off thge daily pivot to trade around.

also knowing when to trade .... I made ok money in asia yesterday but it was tough and spreads were all over the place. I find the best time to trade for me is form 4am pst to 1p m pst . But mostly I am only in the marjet for the 1st 4 hours of that time .
at the moment the market gives us a huge opportunity ... yesterday I've got 700 pips (just one day!) ...

trade well guys ....
  • #128,469
  • Oct 29, 2008 5:52pm Oct 29, 2008 5:52pm
Quoting dogol
at the moment the market gives us a huge opportunity ... yesterday I've got 700 pips (just one day!) ...

trade well guys ....

you have to be wary that just cuase you have huge one day gains does not make you a trader. It takes years to get good at this game.

Right now the moves are massive .. the mark of a good trader is one that can make money in ANY market ....
Blogging daily now at www.volume.zone
  • #128,470
  • Oct 29, 2008 5:55pm Oct 29, 2008 5:55pm
Quoting malcolmb14
you have to be wary that just cuase you have huge one day gains does not make you a trader. It takes years to get good at this game.

Right now the moves are massive .. the mark of a good trader is one that can make money in ANY market ....
yeppers....i had a huge day sunday, monday, tuesday.....then got my ass handed to me today.

once again....broke alot of my own rules....and gave back a nice % of this weeks earnings.

now....licking my wounds and waiting for asia.....
--post hoc ergo propter hoc--
  • #128,471
  • Oct 29, 2008 6:03pm Oct 29, 2008 6:03pm
no fluctuating spreads with fxsol

Simon
99% of Traders fail, so don't follow the herd
  • #128,472
  • Oct 29, 2008 6:12pm Oct 29, 2008 6:12pm
Something scary for Halloween
Attached Image (click to enlarge)
Click to Enlarge Name: FireShot capture #35 - 'Debt to the Penny (Daily History Search Application)' - www_treasurydirect_g Size: 315 KB


Debt increased by
880,994,601,228.28
in just 2 months. At this rate, we will easily top 2 trillion in new debt this fiscal year.
  • #128,473
  • Oct 29, 2008 6:13pm Oct 29, 2008 6:13pm
Quoting markam
Something scary for Halloween

Attachment


Debt increased by
880,994,601,228.28
in just 2 months. At this rate, we will easily top 2 trillion in new debt this fiscal year.
Hey Markam. Link didn't work.
  • #128,474
  • Oct 29, 2008 6:16pm Oct 29, 2008 6:16pm
Quoting malcolmb14
160 short ... 30 pips stop

price cannot get thru it ...

Hey Malcolm,

I remember reading it on this thread, and I think you are the one that posted it since you base alot of your trades on volume, but do you or anyone here know where I can get real time free charts showing volume of the market(and not volume of the market).
  • #128,475
  • Oct 29, 2008 6:18pm Oct 29, 2008 6:18pm
Quoting cheese
Hey Markam. Link didn't work.
Damned if I know what is wrong.
  • #128,476
  • Oct 29, 2008 6:19pm Oct 29, 2008 6:19pm
Quoting malcolmb14
you have to be wary that just cuase you have huge one day gains does not make you a trader. It takes years to get good at this game.

Right now the moves are massive .. the mark of a good trader is one that can make money in ANY market ....

but I already use real account .... I feel I should have to learn a lot from good trader here ... I traded too much .... what I want less trades but more successfull ....
  • #128,477
  • Oct 29, 2008 6:26pm Oct 29, 2008 6:26pm
Quoting cheese
Hey Malcolm,

I remember reading it on this thread, and I think you are the one that posted it since you base alot of your trades on volume, but do you or anyone here know where I can get real time free charts showing volume of the market(and not volume of the market).

err MT4 platforms have volume but they are for the broker.

There are some fancy software out there .. esignal , topgun to mention a few that have good volume that cmes fomr over 308 sources. There is also other software that uses tick volume not real volume.

To have the right tools in this business is a must . If you are a framer do you have a hammer or do you have a nail gun ? That is how i equet free Mt4 software versus something like tradestation or esignal
Blogging daily now at www.volume.zone
  • #128,478
  • Oct 29, 2008 6:31pm Oct 29, 2008 6:31pm
Quoting cheese
Hey Markam. Link didn't work.
your link is in attachment

this is jpeg file
Attached File(s)
File Type: zip fire.zip   251 KB | 431 downloads
  • #128,479
  • Oct 29, 2008 7:05pm Oct 29, 2008 7:05pm
Quoting malcolmb14
you have to be wary that just cuase you have huge one day gains does not make you a trader. It takes years to get good at this game.

Right now the moves are massive .. the mark of a good trader is one that can make money in ANY market ....
i've been trading a lot in case we have another month like august where g/j didn't move at ALL
  • #128,480
  • Oct 29, 2008 7:12pm Oct 29, 2008 7:12pm
so from what i see on the 1h and 15m we should be heading back up to 161.50 - 161 before london
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