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  • #110,641
  • Jun 15, 2009 3:20pm Jun 15, 2009 3:20pm
Quoting Atlast
New traders should think that if they make 45 pips on a daily basis that translates to 880 pips/month. Not to be sneezed at, and you get a good night's sleep after the rigours of the day.
Yep, I agree 100%. I look for 50/day, but I'm happy with anything that's on the plus side. Some days are 50-60, occasionally I can get 100, and rarely I can get 150. If I can only make 10, that's all good because I ain't giving up 10!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #110,642
  • Jun 15, 2009 3:21pm Jun 15, 2009 3:21pm
Quoting TheFisherman
I am so frustrated today.

Woke up early to see tha japs have taken the price down by 70 or so. Took a short trade, went to bed, 45 minutes later I was marginally in profit - 0.5%. It was Power Hour so I decided to call the trade off. Went back to bed, woke p at London opening. 100 pts and counting... Took another trade to 2.5% and called off at about 140 pts (daily avg). The PA dived for 200. By noon the price seemed to go sidways so went into another short for 3.5%. Then I decided to call the day off cause I didn't want to piss in the wind...
Don't sweat it...this happens every day here in the "X".
Si vis pacem, para bellum.
  • #110,643
  • Jun 15, 2009 3:23pm Jun 15, 2009 3:23pm
Quoting vinesh2
Wonder how many hours of sleep does a scalpers get and how much sleep lack of sleep effects their trading analysis
None, I sleep like a baby.

I log on / working here as I'm a programmer so have the charts up see something I like, get in get out, suites my barely around always doing things life style.

Watch abit of TV while I'm at it.

Dratttts,, coulda had worth while profits if I'd of held
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,644
  • Jun 15, 2009 3:26pm Jun 15, 2009 3:26pm
Nice move. I knew it, my short position paid off. Best way to start a week. I know this is not constructive in any way but I'm so glad when I'm right. This is God paying me back for all those hair-pulling moments I had last week.
  • #110,645
  • Jun 15, 2009 3:29pm Jun 15, 2009 3:29pm
Quoting vinesh2
Wonder how many hours of sleep does a scalpers get and how much sleep lack of sleep effects their trading analysis
I am a rank newbie but I have figured out that I need to trade the FO/LO. 2-3 hours of active trading, about 2230-0230 or so, is usually all I need to make my $ target or more. Over the last week that has averaged about 10% per day. FO/LO is the only time of day that I trade, but I monitor E/U, stocks, commodity futures, econ news, etc throughout the day. By the time I am ready to start trading I have established my long/short bias, gauged trader sentiment by reading in the forums, drawn/updated pivot point lines, s/r lines, looked for chart patterns, etc. I might spend some time reading trading-related books and articles every day, too. I would say the whole business of trading takes maybe 6-8 hrs/day. I have 2 other businesses that I run and they are not neglected.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #110,646
  • Jun 15, 2009 3:31pm Jun 15, 2009 3:31pm
Quoting vinesh2
Wonder how many hours of sleep does a scalpers get and how much sleep lack of sleep effects their trading analysis
bro..you just woke a sleeping lion,they will rip u apart here with argurement...HOLLA
CAPTAIN SYCHO
Imanuel Parsifal
  • #110,647
  • Jun 15, 2009 3:34pm Jun 15, 2009 3:34pm
As much as I would like to go long, the retrace has come on decreasing volume. I will pass on what may turn out to be an excellent move, and one which could turn the whole tables around. Something to note, 6 full red candles in 4 hr, and this current one making it no.7.
See you tomorrow guys.
  • #110,648
  • Jun 15, 2009 3:40pm Jun 15, 2009 3:40pm
Quoting TheFisherman
I am so frustrated today.

Woke up early to see tha japs have taken the price down by 70 or so. Took a short trade, went to bed, 45 minutes later I was marginally in profit - 0.5%. It was Power Hour so I decided to call the trade off. Went back to bed, woke p at London opening. 100 pts and counting... Took another trade to 2.5% and called off at about 140 pts (daily avg). The PA dived for 200. By noon the price seemed to go sidways so went into another short for 3.5%. Then I decided to call the day off cause I didn't want to piss in the wind...
Aaah, frustration is a reaction on a situation. Tomorrow is another day. If you think you will not remember THIS day next year as a day of frustation then try to release that feeling it has no use!
Close your eyes when you feel you are going under.
  • #110,649
  • Jun 15, 2009 3:40pm Jun 15, 2009 3:40pm
Whats up Sycho long time no see. Where u been?
  • #110,650
  • Jun 15, 2009 3:46pm Jun 15, 2009 3:46pm
duce it was a misprint..i corrected it later.. dont sweat it we hit it






time for nation building.. i suggest we plant a flag...
those who can, do. those who cant, talk about those who can
  • #110,651
  • Jun 15, 2009 3:48pm Jun 15, 2009 3:48pm
Poor market
"Buy on fear, sell on greed !!!
  • #110,652
  • Jun 15, 2009 3:50pm Jun 15, 2009 3:50pm
Quoting VinzZ
Aaah, frustration is a reaction on a situation. Tomorrow is another day. If you think you will not remember THIS day next year as a day of frustation then try to release that feeling it has no use!
Thanks. I'm actually worried about this sentiment - might lead to mistakes. Trying to acknowledge-verbalise and then let it go. A retrace till London opening or more would ease up the pain (he-he). H&S not breached yet (not by my books).
  • #110,653
  • Jun 15, 2009 3:51pm Jun 15, 2009 3:51pm
Quoting gatorinla
duce it was a misprint..i corrected it later.. dont sweat it we hit it

time for nation building.. i suggest we plant a flag...
Let the politicians stand in front. We can pull the strings in the back ground.....PAY NO ATTENTION TO THE MAN BEHIND THE CURTAIN !
Si vis pacem, para bellum.
  • #110,654
  • Jun 15, 2009 3:52pm Jun 15, 2009 3:52pm
Quoting TheFisherman
Thanks. I'm actually worried about this sentiment - might lead to mistakes. Trying to acknowledge-verbalise and then let it go. A retrace till London opening or more would ease up the pain (he-he). H&S not breached yet (not by my books).

Forget about it! This market is going beyond 4100 by Friday. We are at the weekly low.
  • #110,655
  • Jun 15, 2009 3:52pm Jun 15, 2009 3:52pm
long saltpeter, mules. heaven hill wiskey, scol vodka... and usd
short viagra
those who can, do. those who cant, talk about those who can
  • #110,656
  • Jun 15, 2009 3:53pm Jun 15, 2009 3:53pm
Howly. I remeber. Where's that guy with his super duper new system. The guy with the book on the photo? He still didn't show me the big trade he "took".
  • #110,657
  • Jun 15, 2009 3:53pm Jun 15, 2009 3:53pm
Quoting Duce
Let the politicians stand in front. We can pull the strings in the back ground.....PAY NO ATTENTION TO THE MAN BEHIND THE CURTAIN !
my flag is on the 4hr.. inverted for the perverted of course
those who can, do. those who cant, talk about those who can
  • #110,658
  • Jun 15, 2009 3:54pm Jun 15, 2009 3:54pm
Quoting notch
Forget about it! This market is going beyond 4100 by Friday. We are at the weekly low.
You pullin' my leg?
  • #110,659
  • Jun 15, 2009 3:55pm Jun 15, 2009 3:55pm
Quoting gatorinla
long saltpeter, mules. heaven hill wiskey, scol vodka... and usd
short viagra
When they come out with the extra-long Viagra I might try it.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #110,660
  • Jun 15, 2009 3:55pm Jun 15, 2009 3:55pm
Quoting Atlast
As much as I would like to go long, the retrace has come on decreasing volume. I will pass on what may turn out to be an excellent move, and one which could turn the whole tables around. Something to note, 6 full red candles in 4 hr, and this current one making it no.7.
See you tomorrow guys.
Well it's not exactly the most volatile moment of the day. But I have the feeling that tomorrow E/U will drop even more and maybe even touch 1.3590. Yep that's another 200 pips... I wouldn't bet on it though, .
Close your eyes when you feel you are going under.
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