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4% A Day Forever

  • #861
  • Jan 11, 2010 7:37pm Jan 11, 2010 7:37pm
Quoting Turveyd
How few pips would you need per month to support that life style ( the bridge and library ), sure sounds like a easy life, prefer a warmer country though for sleeping out side for ever more
lol I only need enough pips for my wifi card and my potted meat.
  • #862
  • Jan 12, 2010 1:44pm Jan 12, 2010 1:44pm
You are all invited to the sunny south east (US). We should be above freezing by summer.
  • #863
  • Jan 12, 2010 5:01pm Jan 12, 2010 5:01pm
Quoting Bankshot
You are all invited to the sunny south east (US). We should be above freezing by summer.
Where do you live, Bankshot?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #864
  • Jan 12, 2010 5:14pm Jan 12, 2010 5:14pm
The Gulf Coast should be above freezing starting Wednesday. Bring your bathing suits!
  • #865
  • Jan 12, 2010 5:18pm Jan 12, 2010 5:18pm
Quoting GulfCoastPip
The Gulf Coast should be above freezing starting Wednesday. Bring your bathing suits!


Thank goodness for global warming. LOL! We had a low of 19 just the other night. Been consistently below normal for the last few weeks.
  • #866
  • Jan 12, 2010 5:37pm Jan 12, 2010 5:37pm
It's just the effect of the recession, much less oil being burned which ='s less heat polution into the atmosphere coldest winter since 1982 here aswell, the last recession.

Compare the oil useage to average temperature charts they match, surprise no one science wise has picked up on this yet, too much invested in Global Warming I guess.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #867
  • Jan 12, 2010 5:42pm Jan 12, 2010 5:42pm
Quoting Turveyd
It's just the effect of the recession, much less oil being burned which ='s less heat polution into the atmosphere coldest winter since 1982 here aswell, the last recession.
...

Sounds like total BS to me. More of a coincidence. We could light the whole state of CA on fire and the temperature in FL wouldn't change.

How about...it's just cold, because it's just freaken cold. Has nothing to do with us mere mortals.
  • #868
  • Jan 12, 2010 5:45pm Jan 12, 2010 5:45pm
Quoting GulfCoastPip
Sounds like total BS to me. More of a coincidence. We could light the whole state of CA on fire and the temperature in FL wouldn't change.

How about...it's just cold, because it's just freaken cold. Has nothing to do with us mere mortals.

I think you under estimate the amount of heat power stations and huge factorys pump out.

Would change much in FL the jet streams high up spread the heat around the entire globe.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #869
  • Jan 12, 2010 7:12pm Jan 12, 2010 7:12pm
Oh god no not another argument about global warming. I think there's a whole thread devoted to it.

Anyway, I think I might post a chart. I'm serious I really might do it. I need a good one though. Was working on one last night - was up 8% at one point. Then got hooked in OCD-style and gave half of that back. Stayed up for the CAD & USD trade balance announcements. I thought CAD would be the one to play & so it was but I was half asleep and couldn't pull the trigger.

Anyway the microscalp is working well. I have no more fear about scaling up the trade size and I do that constantly by microlots. I wonder if there's a platform that will allow you to automate that? Still the big trap is overtrading. The tendency is always there to jump in but only the breakout momentum must be assailed. Otherwise, at 0.2%/pip the losers eat you up. Another pitfall I have to avoid is chasing. Usually you can find good moves at the good times if you're on the goodfoot but if you've watched them happen then you're probably already too late. Anticipation is the key.

I am still good on the hard stops & try to move those to BE every now & then but it almost never works out. If I am bagging 3-5 pip winners, cool, but I need a 10-pip winner to give price enough room to run/retrace/run and it almost always comes back to my sl and nicks it so I would have been better off bagging the winner & just reloading & going again. It's basically a futile endeavor on the M1 tf but I am trying it on the longer tf's in demo. We'll see.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #870
  • Jan 12, 2010 7:23pm Jan 12, 2010 7:23pm
Quoting The Fool
Oh god no not another argument about global warming. I think there's a whole thread devoted to it.

Anyway, I think I might post a chart. I'm serious I really might do it. I need a good one though. Was working on one last night - was up 8% at one point. Then got hooked in OCD-style and gave half of that back. Stayed up for the CAD & USD trade balance announcements. I thought CAD would be the one to play & so it was but I was half asleep and couldn't pull the trigger.

Anyway the microscalp is working well. I have no more fear about scaling up...

I'm trading off S10 charts currently to see tiny micro trends and really liking what I'm seeing thus far

I posted this chart on the M1 thread on EJ a while ago, using 1 TF only and some SMA's you can stay in the market for longer when you get a nice move while keeping your SL's tight, moving to higher TF's will require bigger SL's so your still sadly back to square 1.

For those without S10 charts :-

https://fxtrade.oanda.com/your_accou...er/game/signup
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Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #871
  • Jan 12, 2010 7:28pm Jan 12, 2010 7:28pm
Quoting Turveyd
I'm trading off S10 charts currently to see tiny micro trends and really liking what I'm seeing thus far
Yes, me too. Breakout initiation on the s10 is the golden egg goose.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #872
  • Jan 12, 2010 7:29pm Jan 12, 2010 7:29pm
Quoting The Fool
Yes, me too. Breakout initiation on the s10 is the golden egg goose.

What's your breakout rule ?? simple or a subjective you must learn in time 1 ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #873
  • Jan 12, 2010 7:42pm Jan 12, 2010 7:42pm
Quoting Turveyd
What's your breakout rule ?? simple or a subjective you must learn in time 1 ??
It is subjective but I am looking for a series of increasing candles on s10 - say from stasis to 1 pip then 2 pip then I'm in IF I feel it. And it of course depends on what is getting broken out - not just any random increasing series will do. So I am identifying flags and reversal patterns in the higher tf's and zooming down to s10 to see if I can catch those breaking out.

This is actually a good question D., because if there is a chance I could automate this microscalp approach it would depend on having coded definitions for consolidating price action and also for the following acceleration. I am such a greenhorn with coding though...that is going to be something I am going to have get help on. I am not even really sure actually how realistic that approach could be, algorithmically.

Anyway, if I make an entry and I have not caught the next even bigger candle, then I was wrong and the trade is dead. I am no longer waiting around to see what happens beyond maybe making up the spread but if that ain't happening either then f*ck it - I'm out. The cost of hoping & waiting is just too high.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #874
  • Jan 12, 2010 7:55pm Jan 12, 2010 7:55pm
Quoting The Fool
It is subjective but I am looking for a series of increasing candles on s10 - say from stasis to 1 pip then 2 pip then I'm in IF I feel it. And it of course depends on what is getting broken out - not just any random increasing series will do. So I am identifying flags and reversal patterns in the higher tf's and zooming down to s10 to see if I can catch those breaking out.

This is actually a good question D., because if there is a chance I could automate this microscalp approach it would depend on having coded definitions for consolidating price...

Hard to teach a subjective system

I'm a programmer, although not Meta 4 and a Math's guy so I can likely help if you want to do that, you'll need a S10 feed on a Meta 4 broker though ofcourse which is tricky!!

I'm trading Price / MA Crossed currently as you saw from my chart, obviously get a lot of stalls like you if it drops back below without making some good headway then OUT, if it makes some then I'll give it more leeway to the next MA line and keep increasing so 100+ pip moves are still plausible with a lot of luck

Hope and Waiting is 99% guarantee your SL will be hit.

Ofcourse I've dumped my SL as I just end up waiting for it to hit I'm better off not having 1 removing that Hope that it won't get hit and first sign of trouble, CLICK CLICK.

SLEEP take it easy dude!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #875
  • Jan 12, 2010 8:05pm Jan 12, 2010 8:05pm
You guys should really look at ninjatrader if you want to trade below 5M charts.

You have the flexibilty to go all the way down to 1tick/second charts.

You can use gain feed free, so no extra charge. Only time I see the benefit of using oanda charts is if you are actually trading with them, because then you can move the sl/tp levels manaully by dragging the lines.

Cheers,
K.
  • #876
  • Jan 12, 2010 8:14pm Jan 12, 2010 8:14pm
Quoting kermut
You guys should really look at ninjatrader if you want to trade below 5M charts.

You have the flexibilty to go all the way down to 1tick/second charts.

You can use gain feed free, so no extra charge. Only time I see the benefit of using oanda charts is if you are actually trading with them, because then you can move the sl/tp levels manaully by dragging the lines.

Cheers,
K.
Hey kermut!

I am actually learning NT right now. I do trade off the OandA charts now, but I am looking to go beyond that. I think trading FX futures will probably get me. NT is portable across alot of futures brokers too...

I am demo'ing some of the spot ECN's, though, and spreads are pretty low for E/U usually - alot better than the O's 0.9-pip minimum....

Best Regards,

Rich
"If The Fool persists in his Folly he will become wise." - William Blake
  • #877
  • Jan 12, 2010 8:32pm Jan 12, 2010 8:32pm
Hey there,
Oanda's 0.9 pip spread is actually a very very good deal for <25K accounts. Mainly because it is usually fixed during peak trading times.

Spreads are usually the same on good ecns, ie 0.1-0.7. But it is the commissions that actually make or break the deal.

Believe me, once you go onto NT, you never go back for charting. I am sure there are better charts than NT, but for zero cost, it is a great fx charting package.

Cheers,
K.
  • #878
  • Jan 12, 2010 8:56pm Jan 12, 2010 8:56pm
just downloaded ninja trader and set it up with a price feed. I have to say so far it is really cool. Really good for learning multiple time frame set ups.

Open up two charts with the same pair and then put both on a global cross hair. When you move on one chart the cross hairs follow on the other.
  • #879
  • Jan 13, 2010 4:12am Jan 13, 2010 4:12am
Another day at the FO/LO. I made a bad trade at the beginning and started out about 2% in the hole. Then came back and hit lots of little 0-5 pip winners, a few 0-2 pip losers, to finish up net 6%, or +30 pips.

That bad trade was a goof. Usually I will do a couple of $0.05/pip scalps to warm up & get started. The 2nd one was sent out full-size and I didn't notice till it was about 7 pips in the hole.

This might have been challenging PA for a trend trader to trade, but for the microscalper it was gravy. There's no reason I couldn't have gotten twice what I did. Spacing out, only got 3 hrs of sleep Tuesday, dropped on my head when I was young, etc....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #880
  • Jan 13, 2010 8:23am Jan 13, 2010 8:23am
Quoting The Fool
Another day at the FO/LO. I made a bad trade at the beginning and started out about 2% in the hole. Then came back and hit lots of little 0-5 pip winners, a few 0-2 pip losers, to finish up net 6%, or +30 pips.

That bad trade was a goof. Usually I will do a couple of $0.05/pip scalps to warm up & get started. The 2nd one was sent out full-size and I didn't notice till it was about 7 pips in the hole.

This might have been challenging PA for a trend trader to trade, but for the microscalper it was gravy. There's no reason I couldn't have gotten...

Good trading.

You are proof that 1m traders can make something. Now get some sleep.
I turned offf my computer last night and dreamed of charts.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
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