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  • #148,441
  • Oct 1, 2009 3:20pm Oct 1, 2009 3:20pm
Quoting The Fool
<snip>
Not trying to pick a fight with anybody, just my monthly promo for the joys of scalping.
Dood....we all have different methods, different expectations for different reasons. IMO there is no right or wrong way to do this. Scalpers such as AtLast and yourself are happy to scalp and are good at it. That's great.

Your way may or may not be more profitable than someone elses way, but that's not the issue. I prefer to build up slowly and surely and to pick and choose which trades I take. My way won't suit all, and neither will yours. You're eating your breakfast....I never eat breakfast! To each their own, for their own reasons.

I just don't see this as a race, or a competition because we all have different expectations.

I prefer to think of it like this: I will sit under the forex tree and gratefully accept any fruits that fall into my lap. I'm not going to climb the tree and pick the fruit because I might fall from the tree and hit my head!! You like to climb the tree, I do not. To each their own
Doing what you like is Freedom. Liking what you do is Happiness.
  • #148,442
  • Oct 1, 2009 3:20pm Oct 1, 2009 3:20pm
Gold is to measure the strength of ther dollar. Traders use Gold to hedge their trades as Gold is a safer bet when dollar is down.
  • #148,443
  • Oct 1, 2009 3:22pm Oct 1, 2009 3:22pm
Quoting vinesh2
Gold is to measure the strength of ther dollar. Traders use Gold to hedge their trades as Gold is a safer bet when dollar is down.
WHy not just hedge with the Chf then
  • #148,444
  • Oct 1, 2009 3:25pm Oct 1, 2009 3:25pm
Quoting vinesh2
Gold is to measure the strength of ther dollar. Traders use Gold to hedge their trades as Gold is a safer bet when dollar is down.
Point is either you can read a chart and know where price can go or you can't.You don't need gold charts oil charts etc etc. Looking at an oil chart won't help.Oil goes up so does Euro.goes down so does Euro so why even bother?I personally don't have the time or patience to be flipping through 5 different charts when I'm probably missing trades doing that.O well to each thier own
  • #148,445
  • Oct 1, 2009 3:27pm Oct 1, 2009 3:27pm
Quoting realjumper
Dood....we all have different methods, different expectations for different reasons. IMO there is no right or wrong way to do this. . You're eating your breakfast....I never eat breakfast! To each their own, for their own reasons.
Agreed entirely. You should eat breakfast though. Not good to go to bed with a full belly.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,446
  • Oct 1, 2009 3:28pm Oct 1, 2009 3:28pm
Have a good one.I'm not either bothering to trade tomorrow.I made plenty o pips today to make up for that.Good luck.Should be a nice rollercoaster ride
  • #148,447
  • Oct 1, 2009 3:40pm Oct 1, 2009 3:40pm
Fool its great that you are successfull at scalping thats your style that's great. But let me ask you this when you put in your scalp do you hope and pray that it reach your target? Do you loose sleep over it? Its great you do 80/140 pips a day. Great you had 6 winners in a row. Sooner or later you are going to have a trade that is going to wipe all your winners. It takes just one looser trade to wipe out everyuthing. I dont mind the drawdown b/c my goal is not 80-140/pips a day my goal is 1000 pips a month without worries and stress. FYI i have been short two position EU from 1.48 and 1.47 i placed this order on 9/25. Count the pips and this without loosing sleep
  • #148,448
  • Oct 1, 2009 3:45pm Oct 1, 2009 3:45pm
I want strong dollar, that will be good for my home economy. I will be able to buy more gold and oil with fewer dollars.

Bailed out from my longs, they were not good for my trading account balance economy.

It is once again back to 1.4550 - but this time below resistance, not above support. Let's see if Europeans consider strong dollar good for their economy and what they do about it.
The Thief of Wall Street
  • #148,449
  • Oct 1, 2009 3:57pm Oct 1, 2009 3:57pm
Quoting vinesh2
Fool its great that you are successfull at scalping thats your style that's great. But let me ask you this when you put in your scalp do you hope and pray that it reach your target? Do you loose sleep over it? Its great you do 80/140 pips a day. Great you had 6 winners in a row. Sooner or later you are going to have a trade that is going to wipe all your winners. It takes just one looser trade to wipe out everyuthing. I dont mind the drawdown b/c my goal is not 80-140/pips a day my goal is 1000 pips a month without worries and stress. FYI i have...
With a 2 pip sl and trades that take a few minutes each, is it likely that I am going to lose sleep? How would one trade with a 2 pip sl wipe out all my winners? And with a 5 pip target I don't need to hope and pray; the whole thing is over in a few minutes, win or lose. Compare this to days at a time when your position trade may go against you & you are staring at a big drawdown - you can not deny that this is a common aspect of position trading. How is that NOT stressful?

Of course, I have had lapses in discipline, removed stop losses, had trades go against me, tried to average down losers, etc, etc, blown big holes in the accounts, etc. All chronicled here for anyone to peruse or ignore. But I've learned those hard lessons. To each his own, for sure. If you have a method that works for you more power to ya. I have nothing against position trading per se, do it on demo, knowing that there may come a day when I have sufficient account equity to roll that way, too.

Best Regards.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,450
  • Oct 1, 2009 4:03pm Oct 1, 2009 4:03pm
I think we have already has this conversation before FOOL. I am not going to waste any more time on this. You are right to each its own.
  • #148,451
  • Oct 1, 2009 4:04pm Oct 1, 2009 4:04pm
I don't count my success on how many pips I gathered I count my sucess on how good was I managing my money
  • #148,452
  • Oct 1, 2009 4:06pm Oct 1, 2009 4:06pm
The RIGHT way to trade = +pips
The WRONG way to trade = -pips

Are you doing it the right way?
  • #148,453
  • Oct 1, 2009 4:06pm Oct 1, 2009 4:06pm
Quoting The Fool
With a 2 pip sl and trades that take a few minutes each, is it likely that I am going to lose sleep? How would one trade with a 2 pip sl wipe out all my winners? And with a 5 pip target I don't need to hope and pray; the whole thing is over in a few minutes, win or lose. Compare this to days at a time when your position trade may go against you & you are staring at a big drawdown - you can not deny that this is a common aspect of position trading. How is that NOT stressful?

Of course, I have had lapses in discipline, removed stop losses, had trades...
http://www.forexfactory.com/showpost...8&postcount=63
The Thief of Wall Street
  • #148,454
  • Oct 1, 2009 4:14pm Oct 1, 2009 4:14pm
A BIG Amen to that!

Quoting Chicky
I want strong dollar, that will be good for my home economy. I will be able to buy more gold and oil with fewer dollars.

Bailed out from my longs, they were not good for my trading account balance economy.

It is once again back to 1.4550 - but this time below resistance, not above support. Let's see if Europeans consider strong dollar good for their economy and what they do about it.
In Charts We Trust!
  • #148,455
  • Oct 1, 2009 4:18pm Oct 1, 2009 4:18pm
Quoting Chicky
I want strong dollar, that will be good for my home economy. I will be able to buy more gold and oil with fewer dollars.

Bailed out from my longs, they were not good for my trading account balance economy.

It is once again back to 1.4550 - but this time below resistance, not above support. Let's see if Europeans consider strong dollar good for their economy and what they do about it.
Hello bro
You just made your wish But
1- Yes but strong $ less export less investment in usa because that will cost me much and strong $ downJ " it wil drop"
2-USA still the main player as it wants as it goes TILL now "my view"
And here it's my map check where new candel open
Attached Image (click to enlarge)
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  • #148,456
  • Oct 1, 2009 4:21pm Oct 1, 2009 4:21pm
Nice clip, Chicky. I like the "ch-ching" sound effects when his trade is in profit.

Quick, hot n' nasty, that's the way I like it.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,457
  • Oct 1, 2009 4:24pm Oct 1, 2009 4:24pm
I've always admired good scalpers.....most of them beat me hands down in the beginning, but if there's one thing I do is I compound better than any of them with super low risk and as my account continues to grow, I continue to risk less and less and earn more and more with less effort....

I buy and hold trades and hedge the heck out of the pairs I play. Where in the world can you risk so little and earn 1% so quickly on plays...

In any case, scalping is hard work....hats off to ya for your endurance.

Quoting The Fool
Exactly one hour later, +21 pips, scalping off the peaks & dips of the wavelets in the range .4540-.4525 on M1 - 3-4 pips at a time, 6 winners &...
In Charts We Trust!
  • #148,458
  • Oct 1, 2009 4:28pm Oct 1, 2009 4:28pm
Quoting egkid
Hello bro
You just made your wish But
1- Yes but strong $ less export less investment in usa because that will cost me much and strong $ downJ " it wil drop"
2-USA still the main player as it wants as it goes TILL now "my view"
And here it's my map check where new candel open
Ooooooooooooops. That was a typo.

I typed: "I want strong dollar"

I should have written" "I want dollars"
The Thief of Wall Street
  • #148,459
  • Oct 1, 2009 4:32pm Oct 1, 2009 4:32pm
Quoting X.Oden
I've always admired good scalpers.....most of them beat me hands down in the beginning, but if there's one thing I do is I compound better than any of them with super low risk and as my account continues to grow, I continue to risk less and less and earn more and more with less effort....

I buy and hold trades and hedge the heck out of the pairs I play. Where in the world can you risk so little and earn 1% so quickly on plays...

In any case, scalping is hard work....hats off to ya for your endurance.
Do you use skype? I would love to speak with you further!
  • #148,460
  • Oct 1, 2009 4:32pm Oct 1, 2009 4:32pm
Quoting The Fool
Nice clip, Chicky. I like the "ch-ching" sound effects when his trade is in profit.

Quick, hot n' nasty, that's the way I like it.
This guy starts and finishes in 6 minutes. On the other hand it takes ages for us to play longer term.

Look at this pa now. If eur/usd is female, there seems to be a mouse or a cockroach at 1.4500 level which our charts cannot show.
The Thief of Wall Street
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