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  • #148,461
  • Oct 1, 2009 2:34pm Oct 1, 2009 2:34pm
Quoting Chicky
Ooooooooooooops. That was a typo.

I typed: "I want strong dollar"

I should have written" "I want dollars"
hmmm ...Ok we will go up but not very very high and next time take care
  • #148,462
  • Oct 1, 2009 2:35pm Oct 1, 2009 2:35pm
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.
All I want to do is find trades with the highest probability of success/lowest risk. Scalping with low R:R works for me, as does playing quick breakouts. I fish for breakouts at certain times every day with a 0.5 pip sl & a 20 pip tp. I am looking for visible momentum and when I see it I want to catch that ride. If I fk up bfd I lost a 1/2 pip & the spread. Just mho but the less time you are in the market the less your cash is at risk.

Now, wherever I have failed I have deviated from the philosophy expressed above. I am not on an evangelical mission; I think there are as many ways to trade successfully as there are traders. I wish everyone success in finding their own way to pip Heaven.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,463
  • Oct 1, 2009 2:38pm Oct 1, 2009 2:38pm
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.
No offense intended my friend but you are starting to sound like a scammer.

.....and by the way in more than 20 years trading Forex I never saw a "hedger" go on for too long !!
  • #148,464
  • Oct 1, 2009 2:50pm Oct 1, 2009 2:50pm
I know plenty of good traders that scalp amongst their longer term positions. There is nothing wrong with scalping or long term trades, a good scalper with higher leverage can make just as much as a good position trader with lower leverage. The key is not the pips where so many people get carried away with, the key is % return on your account and % risked. If I in my analysis knew that Eur/Usd aint hitting 1.50 this year, heck I'll have my stoploss there and position trade downwards, but that doesn't mean I wouldnt take some good trades intra-day off of pivot points when the opportunity shows itself. So you don't even have to necessarily marry yourself to one sort of style, its not either or. I position trade the USD/CAD, and I like scalping the euro, just because I feel I have a better understanding of the cad pair fundamentally and feel more comfortable with the price action in euro for short term trading. I find both styles profitable..different market conditions dictate which comes out ahead .. thats all.

Ron
  • #148,465
  • Oct 1, 2009 2:59pm Oct 1, 2009 2:59pm
Here is one trendline that I expect to bring some reversal...
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ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
  • #148,466
  • Oct 1, 2009 2:59pm Oct 1, 2009 2:59pm
And then I think it is proper to say, Being entirely honest with yourself is a good exercise... -Freud

short GBPUSD & EURJPY waiting for eurusd -30/49
  • #148,467
  • Oct 1, 2009 3:02pm Oct 1, 2009 3:02pm
Fool,

Your stops are pretty tight....may I ask which broker you use?

Quoting The Fool
All I want to do is find trades with the highest probability of success/lowest risk. Scalping with low R:R works for me, as does playing quick breakouts. I fish for breakouts at certain times every day with a 0.5 pip sl & a 20 pip tp. I am looking for visible momentum and when I see it I want to catch that ride. If I fk up bfd I lost a 1/2 pip & the spread. Just mho but the less time you are in the market the less your cash is at risk.

Now, wherever I have failed I have deviated from the philosophy expressed above. I am not on an evangelical mission;...
In Charts We Trust!
  • #148,468
  • Oct 1, 2009 3:04pm Oct 1, 2009 3:04pm
Quoting megamo
I find both styles profitable..different market conditions dictate which comes out ahead .. thats all.

Ron
You are where I would like to be, hope to be in time, with practice. I find though that if I am scalping intensively I get hooked into a short tf midset & that it doesn't work for me to try to do longer-term trading at the same time. Probably just me though. Also, I started out just trading E/U and I have yet to really branch out. I watch other pairs, have tried trading geppy & spot gold, emini S&P, etc, but E/U was my first love & now I fear I may be stuck with her....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,469
  • Oct 1, 2009 3:07pm Oct 1, 2009 3:07pm
Quoting X.Oden
Fool,

Your stops are pretty tight....may I ask which broker you use?
Oanda. I have only recently started to try to trade momentum only with tight sl's and I do suffer from mediocre hit rates at times, but not enough to lose overall.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,470
  • Oct 1, 2009 3:08pm Oct 1, 2009 3:08pm
Quoting Liger86
Here is one trendline that I expect to bring some reversal...
What interests me about your chart, and I've been watching for a few days now, is the development of a nice rounded top that had it's beginnings a couple of weeks ago.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #148,471
  • Oct 1, 2009 3:17pm Oct 1, 2009 3:17pm
i think we ll go retest 4519
Pation is the Holy Grail
  • #148,472
  • Oct 1, 2009 3:19pm Oct 1, 2009 3:19pm
I am starting to sound like a scammer why? If I am a scammer, I would not post my sentiments on this forum and they for one would not be accurate, which I can say they are, and its because I trade everything I post and see...

I've also posted my trade results....do you want my method of trading as well? I just shared it with you.

I have had 2 trading mentors in my life....one passed away in the beginning of the year and he taught me how to read a chart and how to trend trade PA.....I have mentored a few hundred of his students when he was alive and on the side in my spare time for free and my other mentor is a 55 year old man residing in Asia....he is a new found billionaire solely from his forex trades which he started almost 9 years ago and he taught me how to hedge effectively. He managed a large private fund which is privately held and only for family members. He does not manage accounts for people.

As for me, I have 1 private account I trade for one of the students I helped mentor since his wife has cancer and he is no longer able to trade. His account is large enough to put food on my table and assure me a comfortable lifestyle.

I have not asked for money, not tried to sell anything and have made enemies here because of my arrogance and cocky attitude....now, I ask you, if I were running a business, would I want to make enemies or argue my points? I toned it down because apparently, it was disrupting others who want to learn what I do to call accurate movements to the market and I can tell you right now that I have no intention to teach anyone how to trade. I am not a teacher and I don't sell courses on the net. In fact, I would be a lousy instructor, I just give general trading tips if asked.

Also, folks that do aren't all that bad...because I've learned alot from all the crap programs that ARE floating around out there.

So why do you ask if I'm a scammer? Is it because I am trading low risk and making money in the forex? Something which maybe you find difficult to do? I can say that my success did not come without blood and sweat...3 hours of horrific sleep, studying under one of the greatest traders that I've ever had the privilege to know and just plain hard work....

So, I'll tell you up front, I'm not here to pitch anything to anyone here. Personally I think there are a bunch of pricks in this forum and I'm sure they share the sentiments back and I'm fine with that....but I do enjoy reading the comments shared across the board whether its bs or good info...

Anyway, toward what you think of me....I don't really give two rats ass....and sorry, I'm not the most tactful person you'll ever meet, and toward that, read the beginning of this paragraph once more...

So there you have it....if you want however, I have a product called 4X Made Easy I'll toss your way for a real good price....




Quoting Platypus
No offense intended my friend but you are starting to sound like a scammer.

.....and by the way in more than 20 years trading Forex I never saw a "hedger" go on for too long !!
In Charts We Trust!
  • #148,473
  • Oct 1, 2009 3:21pm Oct 1, 2009 3:21pm
In more than 20 years, you've met incompetent hedgers is my guess..



Quoting Platypus
No offense intended my friend but you are starting to sound like a scammer.

.....and by the way in more than 20 years trading Forex I never saw a "hedger" go on for too long !!
In Charts We Trust!
  • #148,474
  • Oct 1, 2009 3:22pm Oct 1, 2009 3:22pm
You're absolutely spot on....

I take long term trades and use short term positions with low risk to take quick profits from the markets when I have the time and energy to do so....I'm not the best at it, but do alright.

Quoting megamo
I know plenty of good traders that scalp amongst their longer term positions. There is nothing wrong with scalping or long term trades, a good scalper with higher leverage can make just as much as a good position trader with lower leverage. The key is not the pips where so many people get carried away with, the key is % return on your account and % risked. If I in my analysis knew that Eur/Usd aint hitting 1.50 this year, heck I'll have my stoploss there and position trade downwards, but that doesn't mean I wouldnt take some good trades intra-day...
In Charts We Trust!
  • #148,475
  • Oct 1, 2009 3:26pm Oct 1, 2009 3:26pm
Quoting X.Oden
I am starting to sound like a scammer why? If I am a scammer, I would not post my sentiments on this forum and they for one would not be accurate, which I can say they are, and its because I trade everything I post and see...

I've also posted my trade results....do you want my method of trading as well? I just shared it with you.

I have had 2 trading mentors in my life....one passed away in the beginning of the year and he taught me how to read a chart and how to trend trade PA.....I have mentored a few hundred of his students when he was alive...
Oh boy...such a long answer for such a short post ....and by the way pros dont hedge....or scalp...

Trade safely !
  • #148,476
  • Oct 1, 2009 3:28pm Oct 1, 2009 3:28pm
Quoting X.Oden
You're absolutely spot on....

I take long term trades and use short term positions with low risk to take quick profits from the markets when I have the time and energy to do so....I'm not the best at it, but do alright.

Oden,

Do you have messenger? I would love to talk to you further about my trading techniques and so forth, and maybe we can help each other out. As you can see i don't post much on here, i just browse around.
  • #148,477
  • Oct 1, 2009 3:28pm Oct 1, 2009 3:28pm
Oanda is a good broker. I traded with them for a bit. One thing I never understood with those guys is the BOX options...I was too impatient to learn about it I guess..

One thing I like about their charts over MT4 which I use is they always gave you a position average and you can also go back and track where you placed past trades....real slick....their charting tools however need to be improved though, but for the method I'm trading, it don't matter much....

Well for a scalper such as yourself, you're correct to think in terms of breakouts.....in fact, that's the edge in scalping...quick breakouts utilizing momentum....

Do yourself a favor and look up Kathy Lien....she's one sharp cookie and her ideas about momentum trades and break out are par excellent.


Quoting The Fool
Oanda. I have only recently started to try to trade momentum only with tight sl's and I do suffer from mediocre hit rates at times, but not enough to lose overall.
In Charts We Trust!
  • #148,478
  • Oct 1, 2009 3:30pm Oct 1, 2009 3:30pm
Who gives a shit what the pros do....just because the majority don't do it a certain way doesn't make their way right for everyone....there's always a better mouse trap. And I care what the pro's do why?


Quoting Platypus
Oh boy...such a long answer for such a short post ....and by the way pros dont hedge....

Trade safely !
In Charts We Trust!
  • #148,479
  • Oct 1, 2009 3:32pm Oct 1, 2009 3:32pm
Mike,

I don't need help, but thanks for the offer. What do you need help with? Spit it out son.

Quoting mikegonzalez
Oden,

Do you have messenger? I would love to talk to you further about my trading techniques and so forth, and maybe we can help each other out. As you can see i don't post much on here, i just browse around.
In Charts We Trust!
  • #148,480
  • Oct 1, 2009 3:35pm Oct 1, 2009 3:35pm
Quoting gatorinla
heres a chart.. it may help. put these levels on your chart. as long as were below 4855 high they are valid in short term for now. there from a bearish predictive.. as long as we follow them its a bearish sentiment. numbers are rounded off and you broker may be off a pip or 2 from them... but 2 pip should be with range...its the same chart as last night.. but i added smaller numbers for scalping. chart is predictive it dont have a solid point a to b start and finish... its where i think it should be...by the way pair moves..as time goes on things...
i posted this chart last friday.. i figured since it was a bearish predictive on a smaller tf id go back and see how it evolved...i was questioned about all the lines some only 5 pips apart and about looking at a 5m chart.. go back and look at post if you like #146699 ... the same chart with smaller tf yellow lines removed. the second one has some red lines with other levels that caculator says may pop up.. you can add in fibs and historic s/r.. the chart posted earlier today is still good just bigger tf.. i posted this just to show how as time goes on it was working..but as time goes on in a move bigger tf charts become smoother and more predictable..like this one has become.

good luck
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those who can, do. those who cant, talk about those who can
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