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4% A Day Forever

  • #981
  • Jan 31, 2010 10:57pm Jan 31, 2010 10:57pm
I wonder how dificult it would be to get an off shore account. I love the chalange of the fx market.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #982
  • Feb 1, 2010 3:37am Feb 1, 2010 3:37am
Quoting Rufus
I wonder how dificult it would be to get an off shore account. I love the chalange of the fx market.

Rufus

Easy for a FXCM UK Account I believe!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #983
  • Feb 1, 2010 3:53am Feb 1, 2010 3:53am
Quoting Turveyd
Easy for a FXCM UK Account I believe!!
Currently, there are lots of options - ACM & Dukascopy in Switzerland, FXCM-UK, just to name a few. Remains to be seen whether new US regs might limit our access to those offshore accounts, though.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #984
  • Feb 1, 2010 7:32am Feb 1, 2010 7:32am
Why dont you screenshot and dialogue some scalp trades, I'd be interested to see some setups, if you dont mind.

Thanks.
Annoying Precision
  • #985
  • Feb 1, 2010 7:43am Feb 1, 2010 7:43am
Quoting erikte279
Why dont you screenshot and dialogue some scalp trades, I'd be interested to see some setups, if you dont mind.

Thanks.
ok, check back later in the week i will try to show some good breakout grabs.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #986
  • Feb 1, 2010 7:55am Feb 1, 2010 7:55am
Sweet
Annoying Precision
  • #987
  • Feb 1, 2010 6:40pm Feb 1, 2010 6:40pm
Here are the first two trades I did near the Tokyo open. I will usually try to catch an hour around the Tokyo open.

First one, I saw some retrace chance from that down move at the open and entered long after I saw the hammer & PA turn north. Scored 4 pips.

Second one, I was watching that flatline for a breakout and entered long when I saw a strong candle move north. Moved sl to be & it came back and stopped me out for no gain. It was up a max of 2 pips.

In weak PA like this it usually doesn't pay to move sl to BE - but you never know. It's just like fishing - bait a hook, throw it out there, come up empty, bait another hook, etc.

But this PA is pretty much weaker than what I lke to scalp....
Attached Image (click to enlarge)
Click to Enlarge Name: EU2-1-10.png Size: 84 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #988
  • Feb 1, 2010 6:46pm Feb 1, 2010 6:46pm
Quoting The Fool
Here are the first two trades I did near the Tokyo open. I will usually try to catch an hour around the Tokyo open.

Ahhh to have a account Value and Low enough spread wise to be able to play that game, gunning for 20+ pip most trades is a hard hard game.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #989
  • Feb 1, 2010 6:52pm Feb 1, 2010 6:52pm
Quoting Turveyd
Ahhh to have a account Value and Low enough spread wise to be able to play that game, gunning for 20+ pip most trades is a hard hard game.
Oanda has been good lately for Tokyo with a 1.0 pip spread on E/U.

4-pips and I am 20% positive towards the daily target. Actually looks more like 3 pips - still a big success - I didn't lose money.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #990
  • Feb 1, 2010 6:53pm Feb 1, 2010 6:53pm
Interesting, not my style but if works hey...

Quoting The Fool
Here are the first two trades I did near the Tokyo open. I will usually try to catch an hour around the Tokyo open.

First one, I saw some retrace chance from that down move at the open and entered long after I saw the hammer & PA turn north. Scored 4 pips.

Second one, I was watching that flatline for a breakout and entered long when I saw a strong candle move north. Moved sl to be & it came back and stopped me out for no gain. It was up a max of 2 pips.

In weak PA like this it usually doesn't pay to move sl to BE - but you never know. It's...
Annoying Precision
  • #991
  • Feb 1, 2010 7:12pm Feb 1, 2010 7:12pm
E/U has been tricky to trade recently imo. Lots of weak PA with unpredictable breakouts here and there. Right now, S&P futures and oil futures are up. These alone used to point to an up move for E/U. But now, both these currencies are crippled. Its like betting on a race between two broke-d#ck dogs.

If you can fish these breakouts you can make good pips but there are better pars to trade now.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #992
  • Feb 1, 2010 7:19pm Feb 1, 2010 7:19pm
If I do reach a certain point of adequate capitilization I plan on broadening the markets I trade so Im able to trade the best "moving" markets.
Annoying Precision
  • #993
  • Feb 1, 2010 7:23pm Feb 1, 2010 7:23pm
I believe a thorough study in economics is what I need at this point.
Annoying Precision
  • #994
  • Feb 1, 2010 7:28pm Feb 1, 2010 7:28pm
A little movement and I am more than halfway home.

When I see the candles start to run down the bottom channel of the BB I sensed a good short run opp.

I started to move sl to BE+2 but when I had 7-8 pips I closed. Nothing like pips in the bag. I left a few on the table but now I see it has retraced 8+ pips from 3908....

Small ball. Easy peasy. Account up 2+% in about an hour. pretty typical.
Attached Image (click to enlarge)
Click to Enlarge Name: EU2-1-10b.png Size: 85 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #995
  • Feb 1, 2010 7:32pm Feb 1, 2010 7:32pm
If you can maintain consistent profititability I'd say thats the way to go.
Annoying Precision
  • #996
  • Feb 1, 2010 7:35pm Feb 1, 2010 7:35pm
Quoting erikte279
If you can maintain consistent profititability I'd say thats the way to go.
Thats a big 10-4, good buddy.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #997
  • Feb 1, 2010 7:37pm Feb 1, 2010 7:37pm
Question is do you feel that If you ever got to the level of around $500+ a pip that you could continue.
Annoying Precision
  • #998
  • Feb 1, 2010 7:43pm Feb 1, 2010 7:43pm
Quoting erikte279
Question is do you feel that If you ever got to the level of around $500+ a pip that you could continue.
Theoretically, yes.

Practically, I would not keep that kind of money in an unsecured spot broker account. I have been thinking about $50/pip would be where I would cut off in any one account. @ 20 pips or $1,000 a day I would not complain...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #999
  • Feb 1, 2010 7:55pm Feb 1, 2010 7:55pm
Quoting The Fool
E/U has been tricky to trade recently imo. Lots of weak PA with unpredictable breakouts here and there. Right now, S&P futures and oil futures are up. These alone used to point to an up move for E/U. But now, both these currencies are crippled. Its like betting on a race between two broke-d#ck dogs.

If you can fish these breakouts you can make good pips but there are better pars to trade now.

They've all been that way since the 10:1 Leverage news came out sadly, my method which was working great and rarely failing pretty much failed thanks to that, although today didn't look to bad especially for a monday so here is hoping it'll blow over.

Nice trading dude, good to see your charts / logic as expected really, see buyers go long, see profit take it the best way to make a living from this game for sure for sure.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,000
  • Feb 1, 2010 8:13pm Feb 1, 2010 8:13pm
Quoting Turveyd
Nice trading dude, good to see your charts / logic as expected really, see buyers go long, see profit take it the best way to make a living from this game for sure for sure.
Yep if I see the herd start to run I might just like to tag along.

I will be checking in for the Aussie news in while - we might see some sparks fly...
"If The Fool persists in his Folly he will become wise." - William Blake
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