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4% A Day Forever

  • #661
  • Dec 8, 2009 3:06am Dec 8, 2009 3:06am
Well, goodnight boys, I'm going to bed flat - one good thing about scalping - but I know you get used to letting trades run if your risk management strategy is tight. I wanted to see what the German IP news would do - yes, I am still scalping the news.

Tomorrow is another day. Happy Trades!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #662
  • Dec 8, 2009 1:53pm Dec 8, 2009 1:53pm
Since starting this thread, trading the one minute charts, you've traded as many bars as you would in about 50 years on the 4h charts. Do you think somewhere between starting and 50 years later you would have a good idea if you're making money or not? Are you making money? If what you're doing is working, after 4 1/2 months trading one minute charts, you should be. Are you?
  • #663
  • Dec 8, 2009 2:24pm Dec 8, 2009 2:24pm
Quoting TheGreatMilenko
Since starting this thread, trading the one minute charts, you've traded as many bars as you would in about 50 years on the 4h charts. Do you think somewhere between starting and 50 years later you would have a good idea if you're making money or not? Are you making money? If what you're doing is working, after 4 1/2 months trading one minute charts, you should be. Are you?

If only trading / life was ever that easy hey!!

If it takes another 5 years then it'll take another 5years whats the rush as long as you get there in the end and live long enough afterwards to spend it
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #664
  • Dec 8, 2009 2:25pm Dec 8, 2009 2:25pm
No hurries.
  • #665
  • Dec 8, 2009 2:29pm Dec 8, 2009 2:29pm
Quoting Turveyd
If only trading / life was ever that easy hey!!

If it takes another 5 years then it'll take another 5years whats the rush as long as you get there in the end and live long enough afterwards to spend it
Err...I never thought of it like that..err.... bye then.
  • #666
  • Dec 8, 2009 3:55pm Dec 8, 2009 3:55pm
Quoting TheGreatMilenko
Are you?
What, do you need a loan?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #667
  • Dec 8, 2009 4:34pm Dec 8, 2009 4:34pm
Quoting The Fool
What, do you need a loan?
Well if your offering, decent of you mate
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #668
  • Dec 8, 2009 4:36pm Dec 8, 2009 4:36pm
Quoting The Fool
What, do you need a loan?
Well, since he brought it up......can I borrow some money?????
  • #669
  • Dec 8, 2009 4:38pm Dec 8, 2009 4:38pm
Well, you seem like good lads, why not? Hit me up in the Spring - I should be pretty flush by then.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #670
  • Dec 8, 2009 4:39pm Dec 8, 2009 4:39pm
Quoting The Fool
Well, you seem like good lads, why not? Hit me up in the Spring - I should be pretty flush by then.
  • #671
  • Dec 8, 2009 4:50pm Dec 8, 2009 4:50pm
Quoting The Fool
Well, you seem like good lads, why not? Hit me up in the Spring - I should be pretty flush by then.

Cool, I'll hold you to that

Hopefully I'll be pretty flush to, might have £50 spare!! luxury!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #672
  • Edited 3:13am Dec 9, 2009 1:57am | Edited 3:13am
Pushed myself to stay with my plan and scale up my scalp trade size - so traded full lots on E/U during much of Frankfurt-early London. (0.2%*$5775=$11.50/pip). Backed off some of them but easy short ones w/ $10/lot add up quick & 27 net pips was about 4% increase.

I might make it back to 4% a day after all.

So if I'm true blue it will be $12/pip next session.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #673
  • Dec 9, 2009 3:31am Dec 9, 2009 3:31am
Quoting The Fool
Pushed myself to stay with my plan and scale up my scalp trade size - so traded full lots on E/U during much of Frankfurt-early London. (0.2%*$5775=$11.50/pip). Backed off some of them but easy short ones w/ $10/lot add up quick & 27 net pips was about 4% increase.

I might make it back to 4% a day after all.

So if I'm true blue it will be $12/pip next session.

I am confident in you. Just kill those losers fast my friend.
  • #674
  • Dec 9, 2009 10:51am Dec 9, 2009 10:51am
Quoting calderone
I am confident in you. Just kill those losers fast my friend.
That is getting to be a stuck habit now. Also I am always riding with a hard stop now. I need the hard stop for protection, but also because I am always trying to move it graphically in moving PA to BE so I can extend winners. Scalping is too fast to adjust stop & profit target otherwise... Anyway, I probably have never been better in the risk management department.

Starting to feel more & more confident that a simple plan can come together. Thanks for your support, amigo. Happy trading!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #675
  • Dec 9, 2009 11:32am Dec 9, 2009 11:32am
Hey fool,

Give me the lowdown on your system and I will watch with you.

You scalpin or swing trading?

Good hunting,

golferfx
  • #676
  • Dec 9, 2009 11:45am Dec 9, 2009 11:45am
Quoting The Fool
That is getting to be a stuck habit now. Also I am always riding with a hard stop now. I need the hard stop for protection, but also because I am always trying to move it graphically in moving PA to BE so I can extend winners. Scalping is too fast to adjust stop & profit target otherwise... Anyway, I probably have never been better in the risk management department.

Starting to feel more & more confident that a simple plan can come together. Thanks for your support, amigo. Happy trading!
Glad you got the hard stop too in case the market goes ape. Nothing like a 6 inch candle on a 1m chart. lol

Glad to see you back.
  • #677
  • Dec 9, 2009 11:50am Dec 9, 2009 11:50am
Quoting golferfx
Hey fool,

Give me the lowdown on your system and I will watch with you.

You scalpin or swing trading?

Good hunting,

golferfx
Hi golferfx!

Bread and butter right now is scalping. I have various mo's:

- I look for good volatility/momentum on the 10s/M1 charts and grab small winners with very steep leverage (0.2% of account equity per pip risk)

- I regularly play break-outs at the market windups - intro to FO, intro to Tokyo, and off flags at other times. I try these for somewhat larger targets

- I play news volatility, scalping in the aftermath

- In trending PA I will try to let some of these good scalps run far past BE+..but I am taking money off the table, in general, as often as I can

- I keep an eye on fundies and watch Oil, S&P, other pairs - anything that can help give me a little edge

I do these quick trades in a dedicated scalper account. Mostly E/U but also XAU.

I am doing longer term trading in other accounts. Small positions in more ranging pairs (E/G, AUD/CAD, E/C, etc). I just set up two subaccounts for swing trading so I can hedge in same pairs if need be. I am working into that trading style...

That's it in a nutshell.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #678
  • Dec 9, 2009 11:53am Dec 9, 2009 11:53am
Quoting The Fool
Hi golferfx!

Bread and butter right now is scalping. I have various mo's:

- I look for good volatility/momentum on the 10s/M1 charts and grab small winners with very steep leverage (0.2% of account equity per pip risk)

- I regularly play break-outs at the market windups - intro to FO, intro to Tokyo, and off flags at other times. I try these for somewhat larger targets

- I play news volatility, scalping in the aftermath

- In trending PA I will try to let some of these good scalps run far past BE+..but I am taking money off the table, in...


Your a busy boy....and no fool!

I will watch with ya!

  • #679
  • Dec 11, 2009 3:21am Dec 11, 2009 3:21am
Scalpng in ranging PA from FO to GMT 1000. Working on some otherjob busywork in between scalps so mostly backed off & shot 1/2-size or 1/2-lots for net $150 or about 30 pips & ~2.5% account increase. Business as usual. Workaday pipping.

Will be interesting to see what happens to me when I start trialing doing this for a living. Will be tempted to put in 8+ hour screentime per day. That'll be a job. Need to keep on myself about upping trade size, no good reason not to at this point. $150/day will need to be about doubled at least to make a go of it...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #680
  • Dec 11, 2009 4:11am Dec 11, 2009 4:11am
nice work, are u still taking small 3-5 pip winners or trying to hold for more?
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