4% A Day Forever | Page 28 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Forex changed forever! 315 replies

an EA that worked forever 29 replies

Forever Demo Account 9 replies

Attachments: 4% A Day Forever
Exit Attachments

4% A Day Forever

  • #541
  • Edited 5:10am Nov 13, 2009 3:29am | Edited 5:10am
Well I played a few scalps since the FO/LO and I have made 12 pips. I increased my trade size to 0.6-lot. Mostly I was interested in watching these various news announcements to keep learning how the market behaves around the different news announcements but these have been pretty zzzzzz so far. One more tonight I will watch and then its bedtime

- that's the EUR Flash GDP figure. OK in the last few hours we have had red numbers for the German, Italian & French GDP announcements so does it not stand to reason that the Flash figure will be down (if not red?) --- forecast is for +0.6%, last month was 0.2%....

Later: OK, the Flash number was red. There was not much of a move and the PA went up a little bit for a few minutes, then we got about a 10-12 pip move down over the next 20 minutes. S&P futures slid off alittle but are still up as of 1030 GMT....

Have scalped in the downtrend a few....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #542
  • Nov 13, 2009 3:18pm Nov 13, 2009 3:18pm
Today I got quite poor result. Overall 66% hit rates after 41 trades, but due to larger loss pips (-4.56 loss avg vs 2.50 win avg), finally got only +3.65 pips.

Still long way to go, I guess.
  • #543
  • Edited 4:33pm Nov 13, 2009 4:10pm | Edited 4:33pm
Weekly Results:

Up 16.4% (Still have Sunday PM session to add)

128 total trades: Long/Short - 41/87: 84% winners: 199.9 total pips
Avg. Win = 2.43 pips / Avg. Loss = 2.87 pips

Largest Win = 18 pips / Largest Loss = 16 pips

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

I woke up and scalped some this morning before the London close. I had wanted to catch the UofM sentiment news - I know those really tend to move the market. The alarm went off and I woke up & started thinking about it, looking at the charts, about 20 minutes before the announcement, & the next thing I knew it was 2 hours later. Anyway, UofM was a mover - I'll have to try to catch the next one.

It was a good week. In the last day of trading I upped trade size from 0.5 to 0.6 lot. I am just going to continue to gradually scale up the trade size as the account grows. I'm not sure where that 15 pip loser was. I know I had a few in the 5-10 pip range, but that one was too big. Also, I did a pretty poor job of letting winners run - I am going to work on that.
Attached Image (click to enlarge)
Click to Enlarge Name: weekly11-8-13-09.png Size: 127 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #544
  • Nov 13, 2009 4:18pm Nov 13, 2009 4:18pm
Quoting odt101
Today I got quite poor result. Overall 66% hit rates after 41 trades, but due to larger loss pips (-4.56 loss avg vs 2.50 win avg), finally got only +3.65 pips.

Still long way to go, I guess.
Hang in there buddy. I can tell you that I am not content to live with 2-3 pip winners only, and that I am going to always look for some larger winners, too. Breakouts and news volatility - the potental for larger winners is always coming around. Also, if you can let some of your winning trades run, you will be better off. This can be hard to do if you have a "small-target" mindset - but if you get the chance, instead of taking profit at 3-4 pips, move the sl up to BE +1 and move the tp out further if it seems like PA move will go longer. There were some really great chances to do that in the last few days and I missed all of them. But I will be trying to do just that when the opportunity is there
"If The Fool persists in his Folly he will become wise." - William Blake
  • #545
  • Nov 14, 2009 7:32am Nov 14, 2009 7:32am
Dude, 16% on your sized account which isn't small relatively is great there are people on here +13% on the year with similar sized accounts

Guessing on your account value, it's not a bad $ amount either.

Let your profits run a bit more, even if we are only talking about 2 - 3 pips even with the slightly lower win % you'll get you'll still be making many more pips.

I don't really like the BE+1 on the size of the profits your talking about, your going to get SL'd A LOT so taking many +1's that could of been +5 2mins later. If you run SL -8 say then move it to -3 or something, experiment but you've got to take risks to make $$$'s, the inability for people to take risks is a major factor in why next to no one is profitable.

Only 2 trades for me Monday, small 1's +3% no losers ignoring the 1 time write down in months LOL


The less time your in a trade then the less your gambling I don't think we get less gambly than you
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #546
  • Nov 14, 2009 2:02pm Nov 14, 2009 2:02pm
Quoting Turveyd
Dude, 16% on your sized account which isn't small relatively is great there are people on here +13% on the year with similar sized accounts

Guessing on your account value, it's not a bad $ amount either.

Let your profits run a bit more, even if we are only talking about 2 - 3 pips even with the slightly lower win % you'll get you'll still be making many more pips.

I don't really like the BE+1 on the size of the profits your talking....
Hey D!

Yeah, 16%/week I will be happy with. I think what I am going to do now is grow this Oanda account to $10k and trade 2.0-lots from there and bank whatever profit there is above $10k every 2-weeks or so. I have aspirations to trade larger than that but I am going to do that in futures. OK here's why & tell me if you think I'm being paranoid.

I think they are already trying to get rid of me by glitching the trading platform. I will be in a scalp and have the order window open, ready to quickly close an open trade with a small profit or loss. I will click on the submit button to close the trade and nothing will happen. Sometimes I will have to click 10-20 times before the order takes, sometimes it will never take no matter how much I click the mouse. It is very frustrating to see a winner go south and even hit a sl because the platform is mysteriously non-functional. And it is not my computer or the mouse - I trade from multiple desktops and a laptop and I have noticed this effect across the board. Clearing java cache & reloading the platform does not help. Of course, this does not happen all the time - but it happens enough to make me think.

re: moving sl to BE - yeah that is hard to do anyway in fast moving PA. what I will do is move the default target to something much larger so I can score larger profits in breakouts. I am almost always closing profits manually ahead of the defaults anyway.

Have a great weekend buddy!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #547
  • Nov 14, 2009 4:03pm Nov 14, 2009 4:03pm
Quoting The Fool
Hey D!

Yeah, 16%/week I will be happy with. I think what I am going to do now is grow this Oanda account to $10k and trade 2.0-lots from there and bank whatever profit there is above $10k every 2-weeks or so. I have aspirations to trade larger than that but I am going to do that in futures. OK here's why & tell me if you think I'm being paranoid.

I think they are already trying to get rid of me by glitching the trading platform. I will be in a scalp and have the order window open, ready to quickly close an open trade with a small profit or loss....

10K every 2 weeks, hmmmmmmmmmmmmmmmmmmmmmmm.

For the Scalping your doing you likely long term need a proper ECN broker I'd start looking into that if I was you, my FXCM slips 1-2pips either way frequently on entry and exit so would be useless for the type of trading your doing.

You to dude!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #548
  • Nov 14, 2009 6:31pm Nov 14, 2009 6:31pm
Quoting The Fool

Yeah, 16%/week I will be happy with....... bank whatever profit there is above $10k every 2-weeks or so.................
Good luck man! With patience comes consistency. Keep 'er focused.
  • #549
  • Nov 14, 2009 8:32pm Nov 14, 2009 8:32pm
Quoting GulfCoastPip
Good luck man! With patience comes consistency. Keep 'er focused.
Thanks Homes. I definitely plan to keep on keepin' on. Best of Luck to you, too!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #550
  • Nov 14, 2009 9:44pm Nov 14, 2009 9:44pm
Red News! Red News!

Red News tomorrow: NZD PPI at 1345 and JPY prelim GDP at 1550.

Have no experience with either one, will be watching & maybe try to catch a little ride. Best bet will be to watch the NZD/USD. In a very thin market I wonder if a pop in the NZD would move the E/U? Spreads would still be high in E/U at that hour, though...

For the Japanese GDP will watch the U/J and the geppy....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #551
  • Nov 15, 2009 3:02am Nov 15, 2009 3:02am
Quoting The Fool
Weekly Results:

Up 16.4% (Still have Sunday PM session to add)
Nice

I see you've joined Stella and got your groove back
Nothing worth having is easy.
  • #552
  • Nov 15, 2009 3:04am Nov 15, 2009 3:04am
Quoting Patience
Nice

I see you've joined Stella and got your groove back
Hey there!

Yes, I am working on mere invincibility! Hope you are doing well.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #553
  • Nov 15, 2009 3:16am Nov 15, 2009 3:16am
Quoting The Fool
Hey there!

Yes, I am working on mere invincibility! Hope you are doing well.....
lol - not as good as you. That myfxbook site is pretty nifty isn't it. I loaded my Oanda accounts on it and had a play around. I've got my main account where I just plod along and I also opened a small sub-account purely for gambling and I'll be lucky to make what percentage you make in a week in a month!

Trade safe
Nothing worth having is easy.
  • #554
  • Nov 15, 2009 8:03am Nov 15, 2009 8:03am
Hey Fool.....looks like your scalps are really working for you!! Good going and congrats man! Honestly, if you're making 4% a day, screw changing or modifying your strategy!!!

Keep it up man..and if you get burned out from sitting at the pc all day, take some of that hard earned cash and go on vacation!!

Anyway, just wanted to say congrats....that's some great trading and really good stats!



Quoting The Fool
Weekly Results:

Up 16.4% (Still have Sunday PM session to add)

128 total trades: Long/Short - 41/87: 84% winners: 199.9 total pips
Avg. Win = 2.43 pips / Avg. Loss = 2.87 pips

Largest Win = 18 pips / Largest Loss = 16 pips

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

I woke up and scalped some this morning before the London close. I had wanted to catch the UofM sentiment news - I know those really tend to move the market. The alarm went off and I woke up & started thinking about it, looking at the charts, about 20 minutes before...
In Charts We Trust!
  • #555
  • Nov 15, 2009 2:39pm Nov 15, 2009 2:39pm
Quoting X.Oden
Keep it up man..and if you get burned out from sitting at the pc all day, take some of that hard earned cash and go on vacation!!

Anyway, just wanted to say congrats....that's some great trading and really good stats!
Hey thanks Mack Daddy X!

I am determined not to make the mistakes that have gouged & scarred my account in the past. We'll see how it goes.

Best of Luck to you!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #556
  • Nov 15, 2009 5:59pm Nov 15, 2009 5:59pm
Quoting The Fool
Red News! Red News!

Red News tomorrow: NZD PPI at 1345 and JPY prelim GDP at 1550.

Have no experience with either one, will be watching & maybe try to catch a little ride. Best bet will be to watch the NZD/USD. In a very thin market I wonder if a pop in the NZD would move the E/U? Spreads would still be high in E/U at that hour, though...

For the Japanese GDP will watch the U/J and the geppy....
I didn't make the NZ PPI, but I see that there was a tradable short move there on the red numbers.

Watched the JPY GDP - green result. Oanda spread was 6 pips on U/J both b4 and thru the news. There was alot of up/down in the PA a few minutes after the news, in a 10-pip range. Didn't quite seem worthwhile with a 6-pip spread, so I stayed out.

...there was a 20-pip breakout north on E/U a few minutes after the JPY news....missed that, too....haven't really got my trading shoes on yet. Probably won't trade until the FO. Going to the gym then out to dinner....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #557
  • Nov 15, 2009 10:32pm Nov 15, 2009 10:32pm
Quoting The Fool
Red News! Red News!

Red News tomorrow: NZD PPI at 1345 and JPY prelim GDP at 1550.

Have no experience with either one, will be watching & maybe try to catch a little ride. Best bet will be to watch the NZD/USD. In a very thin market I wonder if a pop in the NZD would move the E/U? Spreads would still be high in E/U at that hour, though...

For the Japanese GDP will watch the U/J and the geppy....

The gap hasn't closed on nzd/usd yet. Should make for a good target.
  • #558
  • Edited 4:13am Nov 16, 2009 3:50am | Edited 4:13am
News in 0:15 - Eurostat CPI. Hoping for some green there & maybe a little help towards E/U 1.5. Scalped a few in the Frankfurt session, got about 9 pips. Have a swing trade from .4972 & could've closed for 7 pips or so but have been practicing patience because I thought London would give us 1.5 and above for sure. Getting late. Will close it before the news for not much if any gain. Or maybe let it run....

EUR CPI did not produce much volatility. Oanda spread went to 5 or 6 pips. Announced number a little lower than forecast. A 6p move or so upside then 6p backslide. I caught a 3p scalp on the backslide when OandA's spread was coming back down.

PA generally weak this London session, seems like low volume....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #559
  • Nov 16, 2009 11:44am Nov 16, 2009 11:44am
Bernanke talks, markets freak.

There was about 75p very quick spike down as BB speech mentioned the usual "strong dollar" fluff. Then volatile uptrend for 35p in the next 15m, which I scalped several times. Caught a longer long with a small trade, as well.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #560
  • Nov 16, 2009 12:16pm Nov 16, 2009 12:16pm
Quoting The Fool
Bernanke talks, markets freak.

There was about 75p very quick spike down as BB speech mentioned the usual "strong dollar" fluff. Then volatile uptrend for 35p in the next 15m, which I scalped several times. Caught a longer long with a small trade, as well.

Hey "Fool" , please, can you post a screen shot of these trades...this would help a lot...

also, in the future, if it's possible ofcourse, could you post more of the screen shots of your trades... (here and there, for visual...)

Thanks !
0 traders viewing now