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4% A Day Forever

  • #1,061
  • Feb 6, 2010 4:32pm Feb 6, 2010 4:32pm
Last week was a relatively easy week to trade though, direction was obvious, retrace..bang. In my journal is where my trades are placed, we'll see if we have a continuation, either way I THINK I have this thing sorta pegged.
Annoying Precision
  • #1,062
  • Feb 6, 2010 4:43pm Feb 6, 2010 4:43pm
Quoting erikte279
Last week was a relatively easy week to trade though, direction was obvious, retrace..bang. In my journal is where my trades are placed, we'll see if we have a continuation, either way I THINK I have this thing sorta pegged.
Yep, I have read through your journal. You are definitely on the right track.

I have been in most of my trades since mid Jan. There have been a few exceptions. I built an indicator that all I have to do is move a vertical line over yesterdays candle and it calculates entry points and stops for me. That's why I can trade 16 pairs in about 15 minutes.
  • #1,063
  • Feb 6, 2010 4:53pm Feb 6, 2010 4:53pm
and you said all indicators were useless...jeez..

Im in the process of broading the markets I trade for more A+++ oppurtunities. I've also developed a doubling system that only trades PERFECT SETUPS, essentially using standard martingale for me . Of course this system is seperate from the bred and butter
Annoying Precision
  • #1,064
  • Feb 6, 2010 5:16pm Feb 6, 2010 5:16pm
Quoting erikte279
and you said all indicators were useless...jeez..

Im in the process of broading the markets I trade for more A+++ oppurtunities. I've also developed a doubling system that only trades PERFECT SETUPS, essentially using standard martingale for me . Of course this system is seperate from the bred and butter
Well technically it is not an indicator. To me an indicator is something like a moving average or stochastics something along those lines. All it does is the calculations for body size and candle size and does a little math for me. The values for either long or short trigger points along with their stops show up on the bottom of the chart. I use those values and set either a buy stop or sell stop as needed. Once that is done I just turn off the computer and go do something else. I don't look at the charts again until the next day. What's even nicer is not having to be at the computer as soon as a candle closes.

I may play around with shorter time frames again but I am getting lazy and dislike staying up all night to trade. There is something to be said for sleeping when the sun is actually down. LOL! I have 16 trades open right now and all 16 have their stops beyond break even. So I really don't care what happens during the day. Once a trade closes by hitting the stop I set up to enter the new trend. My risk is set so low that even if it gaps over a stop it would have to continue a few thousand pips to even be an issue and that is very unlikely.
  • #1,065
  • Feb 6, 2010 5:28pm Feb 6, 2010 5:28pm
Yeah one day I will hopefully be at a point where I can sleep through complete sessions, not anytime soon, right now its all about generating the capital to approach the bank to start my alternative energy business (purposelessly no descript). Thats where the real BANK is, supplying a base need
Annoying Precision
  • #1,066
  • Feb 6, 2010 5:32pm Feb 6, 2010 5:32pm
and no, I will not be taking my company PUBLIC and issuing stock. I'll keep all the profits for myself and my millions of kids. The forex and the business itself will more then provide sufficient funds for growth, EXPLOSIVE growth.
Annoying Precision
  • #1,067
  • Feb 6, 2010 5:37pm Feb 6, 2010 5:37pm
Quoting erikte279
Yeah one day I will hopefully be at a point where I can sleep through complete sessions, not anytime soon, right now its all about generating the capital to approach the bank to start my alternative energy business (purposelessly no descript). Thats where the real BANK is, supplying a base need
You should look into some grants since Obama is so focused on alternative energy projects. Put together a really good business plan, banks are waiting on people to lend to for projects like that.

I don't have the patience to deal with people especially customers. I have already been down that road. Not willing to make that trip again.
  • #1,068
  • Feb 6, 2010 6:01pm Feb 6, 2010 6:01pm
I wouldnt be dealing with "customers", per se. More like LARGE companies who are bound by law to cut me in on a piece of the action if there production portfolio lacks in certain areas (HUGE MULTINATIONAL POTIENTIAL). I hear what your saying about dealing with "customers" , to much IF in those sorts of busineses.

Quoting magnumfreak
You should look into some grants since Obama is so focused on alternative energy projects. Put together a really good business plan, banks are waiting on people to lend to for projects like that.

I don't have the patience to deal with people especially customers. I have already been down that road. Not willing to make that trip again.
Annoying Precision
  • #1,069
  • Feb 7, 2010 10:26am Feb 7, 2010 10:26am
Quoting magnumfreak
Why would you need an EA for a daily system?? Are people really that lazy?

Please watch for my new thread that will cover the 2 hottest topics on FF. It will be titled... All I need to know is.....

"What time is it zulu (GMT) and how can I teach this thing to trade by itself".
  • #1,070
  • Feb 9, 2010 8:37am Feb 9, 2010 8:37am
Man, can I kill a thread or what!
  • #1,071
  • Feb 9, 2010 8:43am Feb 9, 2010 8:43am
Quoting Bankshot
Man, can I kill a thread or what!

You didn't kill it. The fool can handle it.

He had said something about a lot of jobs coming up that he has to work on. In our neck of the woods the weather has been incredible, so "make hay while the sun shines".

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,072
  • Feb 9, 2010 12:05pm Feb 9, 2010 12:05pm
Quoting Bankshot
Man, can I kill a thread or what!
Not your fault. I don't post much during the week. I had gotten a status update on my trades by text message and wanted to see what was swinging this market so wildly. Nearly 50-100 pip 5 min candles is crazy on EJ.

Figured I would stop by and see if you had a chance to post those threads you mentioned.
  • #1,073
  • Feb 9, 2010 12:29pm Feb 9, 2010 12:29pm
Just kidding bout the thread, just seems that most threads spend a lot of time trying to establish what time they are refering to, ie 7am gmt+1 is what time (local) in Singapore or San Diego or trying to make an EA for everything.
  • #1,074
  • Feb 9, 2010 12:34pm Feb 9, 2010 12:34pm
Quoting magnumfreak
Not your fault. I don't post much during the week. I had gotten a status update on my trades by text message and wanted to see what was swinging this market so wildly. Nearly 50-100 pip 5 min candles is crazy on EJ.

Figured I would stop by and see if you had a chance to post those threads you mentioned.

I was finding the fxcm software already loaded to go short when that hit, 10seconds later and I'd of been in.

Get on the wrong side of 1 of those and it's death for a Scalper, the SL would likely fill much much lower down.

This could be the news :- (wasn't scheduled so no way to avoid.)

http://www.forexfactory.com/news.php?do=news&id=219952
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,075
  • Feb 9, 2010 12:48pm Feb 9, 2010 12:48pm
I think scalpers have a shorter life span (literally). lol


Quoting Turveyd
Get on the wrong side of 1 of those and it's death for a Scalper, the SL would likely fill much much lower down.
Annoying Precision
  • #1,076
  • Feb 9, 2010 12:50pm Feb 9, 2010 12:50pm
Quoting Rufus
You didn't kill it. The fool can handle it.

He had said something about a lot of jobs coming up that he has to work on. In our neck of the woods the weather has been incredible, so "make hay while the sun shines".

Rufus
howdy peeps.

Yes I have been spread pretty thin but I am stll scalping the opens in spot - about 30-60 minutes at each one. Still demotrading Ninja Trader in futures so will be ready to move there if & when.

Have gotten behind on real work projects & trying to get ahead on those. There's alot of pent-up demand in the A/E market and I can see some trickle starting to come over the dam - have picked up new work just in the last week or so. I'm not predicting a flood yet though....

February here in an El Nino year is pretty nice. Dry weather might just set in enough to get some gardening started. I'm kindof an old hippy & grow alot of what we eat here. ...hope they get some snow for the Olympics, though....

Have pretty much just been watching the euro fireworks this morning. Caught a couple scalps on the first spike up and made 1/2 my daily in a minute or two. Will check in at the NY closing hour to see if there might be a fade but I doubt there will be...

Happy Trades ya'll
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,077
  • Feb 9, 2010 1:04pm Feb 9, 2010 1:04pm
Quoting erikte279
I think scalpers have a shorter life span (literally). lol

Stress wise yep, I got on the wrong side of one of those, blew straight through my SL and had 1 order stuck didn't close, couldn't close it and took -100pips on it, SL was 8 pips.

Downsides to everything.

You've got to hope you'd be on the right side of one of these as much as the wrong side, but about 10 against me and Zero for me so far.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,078
  • Feb 9, 2010 1:17pm Feb 9, 2010 1:17pm
Quoting Turveyd
Stress wise yep, I got on the wrong side of one of those, blew straight through my SL and had 1 order stuck didn't close, couldn't close it and took -100pips on it, SL was 8 pips.

Downsides to everything.

You've got to hope you'd be on the right side of one of these as much as the wrong side, but about 10 against me and Zero for me so far.
well that sucks. i hope you get those back. might not your broker honor that sl? i can see how maybe not in news but that was a bolt out of the blue during normal liquidity
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,079
  • Feb 9, 2010 1:32pm Feb 9, 2010 1:32pm
Quoting The Fool
well that sucks. i hope you get those back. might not your broker honor that sl? i can see how maybe not in news but that was a bolt out of the blue during normal liquidity

I e-mailed them but had no response, although a large portion of my account was wiped out in seconds, in real terms thankfully it's not a lot of actual money. the -25 to -40's rather than -11 tops happen sadly, they should of sorted the -100 that crashed but hey.

All your 1000's of trades Fool and you've not had 1 of these go against you then ?? I've had loads normally JPY session and sub 1min after I got in.

I'm cursed

The downside of buying support, when it breaks in a low volume market it hurts, I guess your style of jumping on momentum keeps you pretty safe, why I'm moving more that way!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,080
  • Feb 9, 2010 1:47pm Feb 9, 2010 1:47pm
oh hey i have trades go against me all the time but I have honestly never had a sl completely slipped. 3-4 pip slippage sometimes sure but thats just an issue of not being able to see what PA is really doing cuz I have had that kind of slippage go in my favor many times. If you had a sl set in normal liquidity the broker should honor it and I'd raise hell if they don't

the high leverage momentum trade works well but its suicide to try to do it without airtight mm. I am runnin a 4 pip sl lately and that does get hit on spikes but that usually only happens when I am trying to fish a breakout and I entered too soon. Usually (80+%) if I enter on true momentum I will net positive pips but I get faked out on good movement sometimes, too.

Nothing's 100%. Microscalping is labor-intensive but high leverage mitigates that.
"If The Fool persists in his Folly he will become wise." - William Blake
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