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  • #75,581
  • Mar 14, 2009 6:47pm Mar 14, 2009 6:47pm
Quoting KillerWhale
Did you learn this hole thread by heart? All 5038 pages?
Just first few.
The Thief of Wall Street
  • #75,582
  • Mar 14, 2009 6:48pm Mar 14, 2009 6:48pm
Quoting Chicky
What about getting a clue from Jenny's telephone number? but I am too lazy, let someone else do it for all of us.
...already been tried. He's a cagey squirrel...
http://www.forexfactory.com/showthre...pe#post2453071
FUBAR...
  • #75,583
  • Mar 14, 2009 6:53pm Mar 14, 2009 6:53pm
Quoting acumen
My gut says bear.

My peeps say equities will run UP by July.

I believe my peeps are too early.

m
I have a reason to share your thoughts about being bearish on Euro, but not on Monday.
The Thief of Wall Street
  • #75,584
  • Mar 14, 2009 6:53pm Mar 14, 2009 6:53pm
Quoting psiholog
ah memories....september which led to my best month in november followed by my worst month in december haha. This still classifies as example #2 though that i gave. The thing is I never had alot of money to start with...after initially blowing my few K i had last year (made with a part time job)....every time after I funded my account with 250dollars (worked until may) ..including that borrowed money. I would end up taking that 250 to roughly 1000 in a short amount of time (proper pip size) but no stop loss killed me each time (strict rules did...
and... and ... and...
whatever....
hey, maybe it's only me and everyone else is willing to follow this chibe... of I don't know what you call it but I discovered it cherub stuff.

You slipped once too often for me.
btw, I won't see your response.
  • #75,585
  • Mar 14, 2009 6:53pm Mar 14, 2009 6:53pm
Quoting acumen
My gut says bear.

My peeps say equities will run UP by July.

I believe my peeps are too early.

m
I am going to by my next house in the winter of '10, I need low prices and interest rates low, so tell your peeps to work their magic please. All I know is that last week, the world was going to end, and now that the DOW had a good week, everything is going to be on the up soon. I think they were wrong now and then, but it's probably somewhere in between. I'm not positive if my guess is any worse than most anyone else, including Bernanke.
  • #75,586
  • Edited 6:57pm Mar 14, 2009 6:56pm | Edited 6:57pm
Quoting ak4x
...already been tried. He's a cagey squirrel...
http://www.forexfactory.com/showthre...pe#post2453071
PM him, get a reply, go to address, right click his name, go to properties, check where it came from. ...... I told you, I am lazy.
The Thief of Wall Street
  • #75,587
  • Mar 14, 2009 6:57pm Mar 14, 2009 6:57pm
Daily looking bullish
Attached Image
New voice message: Why are you calling me? If I need you, I'll call you!
  • #75,588
  • Mar 14, 2009 6:58pm Mar 14, 2009 6:58pm
Quoting Bemac
and... and ... and...
whatever....
hey, maybe it's only me and everyone else is willing to follow this chibe... of I don't know what you call it but I discovered it cherub stuff.

You slipped once too often for me.
btw, I won't see your response.

I learned a new word; chibe(n)- not a good thing. Thanks.
  • #75,589
  • Mar 14, 2009 7:09pm Mar 14, 2009 7:09pm
Quoting dallavise
I learned a new word; chibe(n)- not a good thing. Thanks.
Knowledge of the english language only helps you define, more succinctly, why you are who you are... No $Dollars Hangin' here.
  • #75,590
  • Mar 14, 2009 7:16pm Mar 14, 2009 7:16pm
Quoting Bemac
Knowledge of the english language only helps you define, more succinctly, why you are who you are... No $Dollars Hangin' here.
I think it's debatable if it is part of the English language, but nonetheless, understood.
  • #75,591
  • Edited 7:41pm Mar 14, 2009 7:37pm | Edited 7:41pm
[quote=ak4x;2603823]...already been tried. He's a cagey squirrel...
/quote]

He is from Hong Kong.
If he was from Florida, wouldn't talk about power failures.
The Thief of Wall Street
  • #75,592
  • Mar 14, 2009 7:47pm Mar 14, 2009 7:47pm
[quote=Chicky;2603862]
Quoting ak4x
...already been tried. He's a cagey squirrel...
/quote]

He is from Hong Kong.
If he was from Florida, wouldn't talk about power failures.
I'm Jackie Chan's trainer!
Not all sins are created equal
  • #75,593
  • Mar 14, 2009 7:47pm Mar 14, 2009 7:47pm
Quoting ak4x
...already been tried. He's a cagey squirrel...
http://www.forexfactory.com/showthre...pe#post2453071
867-5309?

Damn you Tommy Tutone!
Not all sins are created equal
  • #75,594
  • Mar 14, 2009 8:00pm Mar 14, 2009 8:00pm
[quote=Jay Walker;2603871]
Quoting Chicky

I'm Jackie Chan's trainer!
Ooops. Hit stoploss
The Thief of Wall Street
  • #75,595
  • Mar 14, 2009 8:18pm Mar 14, 2009 8:18pm
Quoting SpecialEd
For anyone having problem with that, including those who think the computer/broker is "watching them", I strongly suggest practicing on your demo account. I think one has to read and study a lot to get better at picking the right trades or the right time to trade, but if that same person trades a demo account for two solid weeks always using SL, I bet he gets a good feel for levels to set it at. Remember, it all starts with money management, the percentage of your account you are willing to risk in all open trades.
Indeed, I've had my stops "hunted" on a demo exactly the same way as in live

Watch the levels (pivots, S/R and mid/quarter pivots) as well as "psychs" (round numbers). Watch the "safe" range (ATR(20)*3 in the TF you use). Combine both for a more exact setting of S/L (fixed S/Ls are riskier) and decrease the position size accordingly if needed. Also, watch the usual behaviour of price between levels (if you are scalping and using a 20 pips S/L you can't be expecting a higher TF than M1, unless you've already locked to BE+1; especially if in a volatile market where ranges get wider). Check if besides the "known" levels mentioned above, there is another underlying pattern of impulse/correction movement.

Try to enter at the best possible price taking all the above into account. In scalping, entries are paramount. And take what the market is willing to give you. If it's 7 pips instead of 10, better take them and wait for an entry at a better price. If you miss the run, there will be another later on. If you succeed, you're in the same trade, with better options.

That's all there is.
  • #75,596
  • Mar 14, 2009 8:29pm Mar 14, 2009 8:29pm
Quoting billye
you're using 2:1 leverage in that case... chances per day to get 1% gain is less.

while using 10:1 and scalp 10 pips is 1% gain.

simply more leverage more chance but less profit target for sure...

add onething, if I predict one thing will move market, I want to get in and get out before next market mover happen...

so use leverage to scalp small pips shortens time I have open position in the market.
It's easier to make two 5 pips trades than one 10 pips.
If you are in the right direction, it won't take you long (and probably the same time as waiting for the initial trade to reach 10 pips, while you wait for it to retrace below your entry and come back, you can simply have closed and re-entered at a better price... in slow markets or consolidation times, it can be doing that a half-dozen times. That's 30 instead of 10...).
Of course I am assuming that you are speaking of a fixed TP.

What TF are you using?
  • #75,597
  • Mar 14, 2009 8:30pm Mar 14, 2009 8:30pm
Areas to monitor closely ,
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"Simplicity is the ultimate sophistication" leonardo da vinci
  • #75,598
  • Mar 14, 2009 8:33pm Mar 14, 2009 8:33pm
Quoting doblece
Indeed, I've had my stops "hunted" on a demo exactly the same way as in live

Watch the levels (pivots, S/R and mid/quarter pivots) as well as "psychs" (round numbers). Watch the "safe" range (ATR(20)*3 in the TF you use). Combine both for a more exact setting of S/L (fixed S/Ls are riskier) and decrease the position size accordingly if needed. Also, watch the usual behaviour of price between levels (if you are scalping and using a 20 pips S/L you can't be expecting a higher TF than M1, unless you've already locked to BE+1; especially...
I totally believe that SL's are hunted, and the more you see that happening to your account, the more you think like most of the rest of us. The big man is always trying to take money from the little man, and they know a lot more about us than we do about them. They know how we think, and how we fear, and they take advantage of that to make money. It's not on a personal level, but en masse. I believe we need to take this into account when we set SL's. Why is it that when we are so sure the price is going to move a certain direction, based on indicators and such, that it suddenly turns against us, just enough to hit SL, and then it again moves in the direction we thought. That's because a lot of us use the same indicators, have similar systems, and they know us, not personally, but corporately. That's my thought on the topic. BE DIFFERENT, it's a good thing.
  • #75,599
  • Mar 14, 2009 8:37pm Mar 14, 2009 8:37pm
Quoting Jay Walker
Hi 99vt66. Welcome back and thanks for the kind words

I actually agree with 3550 and hope that it will be hit.

Many pips to you my friend!
Thank you Mr Walker, I will consider that a privilege and honor coming from someone who IMO is highly intelligent, witty, impatience and sensitive. I have no doubt that you will be a MIT(Master Intraday Trader) in due course if you can allowed your 'third eyes' to be opened.

I was going thru the posts and I just cant resist myself by posting my personal views on some of the finer points of forex trading issues like MM and SL and also Scalping which I hope can transpire, inspire or help anyone in a small way:-

MM- I can see some of them confused this issue with trade capitalisations and that by using a certain percentile of that cap is MM without the keyword "Proper". The correct question should be to honestly know what is your own risk tolerance,appetite/aversion and the proper and prudent use of it. Having said that, this issue will become less of an issue when you become a Mit who is actually working on how to maximise his profit rather than reducing his risks or rather in layman term trading uncertainty.

Scalping trades- Actually all trades can be consider as scalpings. The only difference I noticed is small time scalpers seldom/never scale in/out of any trade like bigger scalpers do due to unfavorable Risks/Rewards ratios and also the difference level of technical efficiency. BUT all traders learn by learning how to scalp first me included.

SL - It must be set on the other sides of a trade to cicumvent any govt intervention, major disasters , act of wars etc keeping in mind a mental level of risks tolerance one can bears especially in countertrend trades.

In my limited knowledge, I can see a handful of Cat 5(1 level below MIT) who are actively making trade calls and trading opinions in this thread, Off course there are somes 10V who will not (or dare not) commit themselves to any specific trade calls except holding some m/t to l/t trading biases but ever ready to pounce on any divergent views contrary to their biases. Mabbe they forget that 96% of the traders here are either intraday traders or small time scalpers. Anyway, those active Cat 5 traders have only to add a 10% more of the finer and intricate points to become a MIT and thus laid their hands on a golden goose.(Opening of the third eyes)

Also to rate and know how good a forex trader you are, one has to use a TPI(Trade profitability Index) to calculate the APPT(Average Percentiles of Pips/Trade) against their actual SL or Risks Capital. Some unscrupulous trading system sellers/agents will sometimes try to sell you their system based on Win/Loss ratios which can be easily manipulated/engineered by trading minilots without using any forms of stop losses which typically show a win/loss ratios of more than 90%. Be careful with those kind of claims...

Actually I am fortunate to have an uncanny knack to roughly know/gauge how good a trader and the kind of trader you are by some of your posts regarding trading opinions/calls/biases which are posted here. Such posts are seldom as simple as being right or wrong trade but rather on the optimum chances of being in the right or wrong trade. Afterall all trading conditions are tradeable, trend or otherwise......scalp or whatever...

I hope and like to believe that I have played a small part to made a small difference to some traders out there in their quest to be a successful forex traders in a traders friendly but brokers/market makers unfriendly ways..

Goodluck and Goodhealth to All and May Peace prevails.........
  • #75,600
  • Mar 14, 2009 8:51pm Mar 14, 2009 8:51pm
Quoting doblece
It's easier to make two 5 pips trades than one 10 pips.
If you are in the right direction, it won't take you long (and probably the same time as waiting for the initial trade to reach 10 pips, while you wait for it to retrace below your entry and come back, you can simply have closed and re-entered at a better price... in slow markets or consolidation times, it can be doing that a half-dozen times. That's 30 instead of 10...).
Of course I am assuming that you are speaking of a fixed TP.

What TF are you using?
I would have to agree with that statement! I started my trading career with the idea based on, riding out the trend on the daily chart. No one ever told me about retracements, and how to handle Draw Downs. I had to learn really fast ... draw downs were eating up my equity.

I figured then, my preferred trading style should be "short term". More of a, "take what I can get ... and get the hell out of there" trading strategy. I'll take 5 pips over 10/20 pips anyday. Whether it be 1 Lot or 5 Lots, five pips can increase a trader's equity ... well, that and money management & trading directions.

The key to trading, Limit your Losses and Take what you can get. As traders, we should consider ourselves as "thieves" - taking what we can get and not getting caught by the law. Make hey ... while the sun shines.
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