DislikedThanks Kinonen,
Very visual and useful. Great work. BTW,whats different with v4?
regards
PardyIgnored
i have now V5
but i dont know if it will help
see screen below
kinonen
Powerful 1 Min Scalping System (Fx Prime)
- #2,463
- Nov 19, 2008 11:42am Nov 19, 2008 11:42am
- Joined Oct 2007 | Status: Summer is the best time of year! | 1,284 Posts
Canuck,
You make a very good point here.
None of us needs a lesson in how to lose money -- that's too easy! And, as you and I both know, it really matters little what system we're using since there are productive times to trade and counter-productive times, especially if we're trading the shorter TFs.
An intelligent discussion regarding recognizing when to stay out of the market would surely be quite helpful, though this thread may not be the appropriate place for it. Likewise, another intelligent discussion with a focus on scalping (rather than "system") and especially on money management for scalpers, would likely benefit many of us. After all, since our 10-20 pip stops are frequently getting hit and none of us wants to risk 100 pips just to pick up 5 or 10, the constant back and forth motion of late requires a rather special approach.
Like you, I tend to over-trade, especially when I've had a few losses. Since so many of the trades I enter immediately go against me (even when they eventually come back my way), I've even thought about developing a strategy that will take advantage of that tendency, but that's another story altogether.
I think the FX Prime setup is valid and works well when the market trends. But it can be a disaster when the market is whipping all over the place, up-down-up-down-up-down like it has been recently. I've been losing more than winning lately, but I've noticed that the bulk of my losses come in the morning (Eastern US), while the afternoons are much more profitable.
Good trading...
You make a very good point here.
None of us needs a lesson in how to lose money -- that's too easy! And, as you and I both know, it really matters little what system we're using since there are productive times to trade and counter-productive times, especially if we're trading the shorter TFs.
An intelligent discussion regarding recognizing when to stay out of the market would surely be quite helpful, though this thread may not be the appropriate place for it. Likewise, another intelligent discussion with a focus on scalping (rather than "system") and especially on money management for scalpers, would likely benefit many of us. After all, since our 10-20 pip stops are frequently getting hit and none of us wants to risk 100 pips just to pick up 5 or 10, the constant back and forth motion of late requires a rather special approach.
Like you, I tend to over-trade, especially when I've had a few losses. Since so many of the trades I enter immediately go against me (even when they eventually come back my way), I've even thought about developing a strategy that will take advantage of that tendency, but that's another story altogether.
I think the FX Prime setup is valid and works well when the market trends. But it can be a disaster when the market is whipping all over the place, up-down-up-down-up-down like it has been recently. I've been losing more than winning lately, but I've noticed that the bulk of my losses come in the morning (Eastern US), while the afternoons are much more profitable.
Good trading...
I do this too, though not as often now. I think what we should be focusing on a bit is when to trade and when not to trade....
CanuckCT
Jeff Singer, K2KV
- #2,469
- Edited 1:28pm Nov 19, 2008 1:15pm | Edited 1:28pm
- Joined Oct 2007 | Status: Summer is the best time of year! | 1,284 Posts
- #2,471
- Nov 19, 2008 2:24pm Nov 19, 2008 2:24pm
- | Joined Jan 2007 | Status: Trader | 1,101 Posts
StopLoss is for none belivers... Trust the Gurus..
- #2,478
- Nov 19, 2008 4:37pm Nov 19, 2008 4:37pm
- Joined Oct 2007 | Status: Summer is the best time of year! | 1,284 Posts
