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Trading for a Living - Cliff Notes

  • #441
  • Aug 11, 2009 8:09pm Aug 11, 2009 8:09pm
Acumen have just read my way through this thread and would like to give you my thanks for initiating it and all the help you have provided it certainly is appreciated.Also thanks to all the other posters here for their thoughts...

Keep up the great work.
Siboy
  • #442
  • Aug 12, 2009 4:26am Aug 12, 2009 4:26am
hello acumen.. 1st of all, thanks for sharing your great system n tips.. really appreciate it..

2ndly , i wanna ask u (since your a real experience trader) , would there be a chance to be profitable with small stops & good MM, lets say SL= 10pips for pairs like e/u, g/u or would the stops always be hunted? (currently im entering/taking profit & exiting manually , the problem is my internet connection speed is just average=sucks) just wanna know your comment regarding this issue.. thanks .. have a gr8 day!
  • #443
  • Aug 12, 2009 12:36pm Aug 12, 2009 12:36pm
Quoting MysticaL8e4r
hello acumen.. 1st of all, thanks for sharing your great system n tips.. really appreciate it..

2ndly , i wanna ask u (since your a real experience trader) , would there be a chance to be profitable with small stops & good MM, lets say SL= 10pips for pairs like e/u, g/u or would the stops always be hunted? (currently im entering/taking profit & exiting manually , the problem is my internet connection speed is just average=sucks) just wanna know your comment regarding this issue.. thanks .. have a gr8 day!
I'm sure it can be done but 10 PIPS is to tight for me.

I trade smaller lot sizes and forget about the SL.

m
  • #444
  • Aug 12, 2009 12:37pm Aug 12, 2009 12:37pm
Quoting siboy
Acumen have just read my way through this thread and would like to give you my thanks for initiating it and all the help you have provided it certainly is appreciated.Also thanks to all the other posters here for their thoughts...

Keep up the great work.
Siboy
Appreciate the kind words... stop by anytime.

m
  • #445
  • Aug 12, 2009 10:07pm Aug 12, 2009 10:07pm
ok , thanks acumen ..
  • #446
  • Aug 13, 2009 3:18am Aug 13, 2009 3:18am
Not sure if anyone else has had this problem but the videos on the thefxpivotpoint.com site did not work for me, archives are corrupt. The pivot point system video worked but the others did not.
  • #447
  • Edited 6:31pm Aug 13, 2009 6:43am | Edited 6:31pm
Quoting acumen
can a trading system loose precision and performance over time?

Sure. However... systems based on pivots won't because of the liquidity.
==> Question: why? what do you mean?



last question: have you any other good system thread you consider a goodread, or should i stick on what i have now, and go training pattern recognition right away?

[b]Firstly... find a system that fits your personality. What time frame do you like to trade? There are some very solid systems on this site. I trade a retrace system that works very well....

could u share your retrace system please?
Thank you



ETA:
is this the one?
http://www.thefxpivotpoint.com/Videos.htm
  • #448
  • Aug 13, 2009 9:24pm Aug 13, 2009 9:24pm
[quote=s050399b;2952258]could u share your retrace system please?
Thank you


2 EMA's

30 (red)
20 (green)

Stoch 9,3.4 (80 and 20 lines visible)

30 on top... bearish.
20 on top... bullish.

Trend needs to be intact... to weaving.

Sell the stoch crossover when it's bearish.

Buy the stoch crossover when it's bullish.

m
  • #449
  • Aug 13, 2009 9:25pm Aug 13, 2009 9:25pm
Quoting preymoss
Not sure if anyone else has had this problem but the videos on the thefxpivotpoint.com site did not work for me, archives are corrupt. The pivot point system video worked but the others did not.
Sorry... they are old.

I only trade pivots these days.

What did you want to see?

I'll create some new videos.

m
  • #450
  • Aug 13, 2009 9:30pm Aug 13, 2009 9:30pm
I've traded a lot of systems.

Wrote some black boxes.

Bought over 20. (Sounds crazy but I've learned a lot form e-books)

Anyhow... by far the most success I've had in trading currencies is using daily pivots on a 15 minute chart.

I ain't exciting or glamorous but it's effective.

m
  • #451
  • Aug 13, 2009 9:35pm Aug 13, 2009 9:35pm
It's naked except for daily pivots and monthlies(Not visible)

Nothing else.

One pair... e/u.

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: pivots.gif Size: 18 KB
  • #452
  • Aug 13, 2009 9:44pm Aug 13, 2009 9:44pm
Check out the chart above.

Notice what happened when the e/u touched the pivot for the first time during the Asian session?

The first 15 bar looks like some put a match under its ass. (At the pivot to the PIP)

The next candle is off to the races.

Sure... it didn't go further or touch R1 but there are S/R and Fibs in play also and some protection going on.

m
  • #453
  • Aug 13, 2009 9:51pm Aug 13, 2009 9:51pm
Great,

How you trade 15M with Daily Pivot ? What it your daily target, 30-50 pips per day on EU (London session) ?

I like the naked trading system, pls post your daily Pivot indicator too.

Regards.

-------------------------------------------

Quoting acumen
It's naked except for daily pivots and monthlies(Not visible)

Nothing else.

One pair... e/u.

Mike
  • #454
  • Aug 13, 2009 9:56pm Aug 13, 2009 9:56pm
Quoting ad2008
Great,

How you trade 15M with Daily Pivot ? What it your daily target, 30-50 pips per day on EU (London session) ?

I like the naked trading system, pls post your daily Pivot indicator too.

Regards.

-------------------------------------------

Only trade the US Session and Asian when something looks good.

I honestly don't have targets... I take what the market gives.

Today she only gave me 37... yesterday she gave me 74... monday the bitch took some of my money.

This year I'm averaging about 200 PIPS/week.

Mike
Attached File(s)
File Type: ex4 FXI Pivots.ex4   25 KB | 829 downloads
  • #455
  • Aug 13, 2009 10:18pm Aug 13, 2009 10:18pm
Monday + 20 PIPS
Tuesday + 27 PIPS
Wednesday + 74 PIPS
Thursday + 37 PIPS

So far this week.

Notice... no 200 PIP day bullshit.

Win a little day and day out... let compounding do the rest.
  • #456
  • Aug 14, 2009 1:48am Aug 14, 2009 1:48am
Hello acumen, thank you for sharing your knowledge, great thread......

Can you tell which trading platform do you use for live trading.


regards

pipgame
  • #457
  • Aug 14, 2009 7:37am Aug 14, 2009 7:37am
Quoting acumen
Check out the chart above.

Notice what happened when the e/u touched the pivot for the first time during the Asian session?

The first 15 bar looks like some put a match under its ass. (At the pivot to the PIP)

The next candle is off to the races.

Sure... it didn't go further or touch R1 but there are S/R and Fibs in play also and some protection going on.

m
Acumen,
Thanks for all of your input. I noticed that my broker is on a different time zone than yours, and as such the FXI Pivots indicator you posted updates later. Here is a chart of mine to compare with your chart above. Not being a programmer is there a way for me to adjust the indicator to match yours, or should this not be an issue to trade off of?
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd.gif Size: 18 KB
  • #458
  • Edited 8:08am Aug 14, 2009 8:05am | Edited 8:08am
Quoting mackus
Acumen,
Thanks for all of your input. I noticed that my broker is on a different time zone than yours, and as such the FXI Pivots indicator you posted updates later. Here is a chart of mine to compare with your chart above. Not being a programmer is there a way for me to adjust the indicator to match yours, or should this not be an issue to trade off of?
Thanks
Attachment

I had this problem with FXPRO. Apparently they are based in Cyprus so they were 4 hours ahead. Also, their data was less accurate than data on Alpari as they used a smaller broker. I changed to Alpari on demo - I dont use them as a broker. However they dont give me indices & oil data which I also trade so I will be looking to change again.

Anyway, having just added some custom indicators myself, the one you have may have an adjustable timeframe. Go into the Inputs tab and adjust GMT shift box by clicking on right hand side & enterring an adjustment. I think you will need to set it to -2 for the US close.

Anyway, try this unless Acumen can enlighten exactly how to do it.
  • #459
  • Aug 14, 2009 8:14am Aug 14, 2009 8:14am
Quoting mackus
Acumen,
Thanks for all of your input. I noticed that my broker is on a different time zone than yours, and as such the FXI Pivots indicator you posted updates later. Here is a chart of mine to compare with your chart above. Not being a programmer is there a way for me to adjust the indicator to match yours, or should this not be an issue to trade off of?
Thanks
Mackus

Attached is an adjustable pivot calculator - it's not identical to Acumen's but will get you started.
Attached File(s)
File Type: mq4 MultiplePivotsV2.mq4   26 KB | 591 downloads
  • #460
  • Aug 14, 2009 9:33am Aug 14, 2009 9:33am
Quoting gbppip
Trading is not difficult. Enter the trade and enter your stop. You will win or lose. What is so difficult about that? Character has nothing to do with this.
Hats off to you gbppip,
If you can enter trades with such cold logic and lack of emotion, you are ONE STEELY EYED TRADER.

You'll probably be rich someday. Emotion blows more accounts than systems.

Salute, Mine Captain!

Shakey
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