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Attachments: 2 losses,30 winners, out of 32 trades
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2 losses,30 winners, out of 32 trades

  • #121
  • Feb 9, 2010 2:43pm Feb 9, 2010 2:43pm
Quoting Turveyd
Are you getting a long delay on your Exits ?? Time enough for the slippage ??

Or just BAD Prices for no reason ??


I fear brokers screwing you will be your next hurdle to over come as you start to make more money, always another problem hey!!


ye, slippage has started to become extreme. I thought mbt was an ecn where you are allowed to scalp?

maybe you are not trading ecn platform when you are trading micro lots?`
  • #122
  • Feb 9, 2010 2:48pm Feb 9, 2010 2:48pm
Quoting woo
Nope, not read a single thread. Lol.

According to your view on how i would tackle eus big drop:

bollinger bands increased in width from lower to higher band= higher volatility, and you see pips moving faster=higher volatility. THe increase in bollinger band, on 5 min chart, happend before the big moves...


Higher volatility= more risk.
minimze risk= adjust lot size accordingly.

dont trade during news, wait for a while, after announcements. to make sure it has stabilized.

and overall perception: these occurences are rare.

actually, i make an...
Sounds good, your ahead of me on the game about the same amount of years trying aswell so hoping I follow closely behind


I only trade in moderate volatility times, I need a reasonible amount of push to give me a chance of 15+ pips, I'm not so Micro Scalpy as you, high volatility times scare me off though.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #123
  • Feb 9, 2010 2:52pm Feb 9, 2010 2:52pm
Quoting woo
ye, slippage has started to become extreme. I thought mbt was an ecn where you are allowed to scalp?

maybe you are not trading ecn platform when you are trading micro lots?`

Looking at your number, you've got a MINI Account by the way, Micro is $0.10 per pip your trading at $1.00.

Trading via a Futures account with a real ECN is likely where to go, but your going to need a lot more money to open 1 I'd bet.

I think 'the fool' is scalping okay via OANDA so far anyway, my FXCM account was doing weird things last time I was profitable, huge delay on exiting which a mate wasn't seeing, trades placed same time same network.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #124
  • Feb 9, 2010 3:07pm Feb 9, 2010 3:07pm
Quoting Turveyd
Sounds good, your ahead of me on the game about the same amount of years trying aswell so hoping I follow closely behind


I only trade in moderate volatility times, I need a reasonible amount of push to give me a chance of 15+ pips, I'm not so Micro Scalpy as you, high volatility times scare me off though.

Ye, and regarding volatility. If the price is barely moving at all, thus causing the bollinger bands to tighten, and this is happening during eudropiean or american session when volatility should be high, it means people

agree on current price/unsure= looking for a way on where the price will move.

as soon as they get direction, price will explode, so one should be wary of increased volatility during these conditions.


Usually, it starts go in one direction..

what will most likely happen is:

it will go upp, and then, people do this calculation

risk/profit ratio is very favorable, during these conditions, so people

sell when the price starts go up, thats why, it first go ups, and than baam goes down.

they start selling because, if it will go down, they have entered at a good price level. and even if, it doesnt go down, price will retrace a little, because of profit taking, people who pick bottoms etc, so they can quit with a small loss.

so thats the logic why profit versus loss is favourable during these times. Actually, im not thinking that this is how it will develop..but im thinking in probabilities. Probability that volatility will increase....

so i use my knowledge for bigger price movents in my scalping, to avoid losses, especially big losses. It helps me holding on to trades longer, or quit trades, or avoid entering. So really, im not just looking at short price movements, i do extensive analysis. THis analysis could absolutely not be translated into a system....or maybe it could,but it would be so convoluted, i would never be able to program it lol.


The reason im starting to get profiable now,so far, i think: ive improved my trading game during shorter time frames, and overall aha lightbulb experience.
  • #125
  • Feb 9, 2010 3:21pm Feb 9, 2010 3:21pm
Summary so far: 39 trades, 3 losses, where i generally trade between 4 and 6 minilots.

Profit: 486 dollar

loss size:

-21
-50
-4

percent that are winners 92%

maximum consecutive losers: 1

pips if, lot size is 5 on average 486/5=97 pips. For 4 days of trading.
  • #126
  • Feb 9, 2010 3:50pm Feb 9, 2010 3:50pm
good work man...keep it up.

then when u have weeks of similar statements watch people say u faked em lol!!!
  • #127
  • Feb 9, 2010 4:07pm Feb 9, 2010 4:07pm
Quoting woo
ye, slippage has started to become extreme. I thought mbt was an ecn where you are allowed to scalp?

maybe you are not trading ecn platform when you are trading micro lots?`
Woo, if you are trading MBT MT4 platform, I would drop it and use their MBT Desktop Pro (formerly Navigator) platform. I do not trust MT4 for scalping at all, period. I used to trade MBT a few years ago on their Navigator platform with absolutely no slippage issues to speak of. The new version, MBT Desktop Pro, is much more robust than the older version.

Coach
  • #128
  • Feb 9, 2010 4:07pm Feb 9, 2010 4:07pm
Quoting Turveyd
Then you double click a CLOSE button as fast as you can in my case.

The object which won't always happen is to exit when you see the market going the wrong way for as small a loss as possibly maybe a slight profit if.

SL's suffer from stop hunting, the market spikes down hits your stop and your market order gets you out at the bottom, from there you'll generally get a 50% retrace to exit at a better price, then it's 50/50 on continuing down or moving up to get back to profits.

Your SL can't adapt, it can't read the market and make a judgement...
That is the gamble we take though. That is the Pro and Con of SLs. While, in regards to my scalpers vs day traders, SLs and no SLs is another open discussion and it is very well linked. The only problem I have with not having them is the combination

1) of a black swan event or
2) a major selling/buying frenzy in the opposite direction to where you are
3) and then something that is out of your control ie power failure, computer meltdown, earthquake what ever. In the process of a scalper who may be taking higher risked trades based on the size of a mental SL, the reversal process would be catastophic, Imagine a 5% account based on a 10 pip SL and then an event that you mention, A spike of say 100 pips. THE spike may wipe out the SLs in the stop hunting scenario, but in a best case situation it may just leave your account down some 40-50%. If the spike comes back and you get lucky and can get out with a small loss or gain then in my view you might go get yourself a lottery ticket. In the event the market runs quickly or your SL (mental) is smaller then that spike may just wipe you out.

It is that kind of scenerio that has me planting SLs, regardless of what people say about SL hunting. In my view if you were trading a larger account you would have a SL in place regardless of how you trade just to protect that capital base. I dont care who you are and how you have traded for years, if your trading capital was in excess of 100k, you would NOT put yourself in a situation where your entire capital base could be wipe due to events out of your control. And I hope those who dont employ SLs have there brokers on Speed dial, or they have some other means to monitor a trade ie Mobile Phone platform.

Just my scope but I am sure this topic could be argued to the death

Razor
  • #129
  • Feb 9, 2010 4:08pm Feb 9, 2010 4:08pm
Quoting woo
Summary so far: 39 trades, 3 losses, where i generally trade between 4 and 6 minilots.

Profit: 486 dollar

loss size:

-21
-50
-4

percent that are winners 92%

maximum consecutive losers: 1

pips if, lot size is 5 on average 486/5=97 pips. For 4 days of trading.
What was your starting capital if you dont mind. The results are good and you should be happy (which I am sure you are).

Razor
  • #130
  • Feb 9, 2010 4:22pm Feb 9, 2010 4:22pm
Quoting Razor_trader
That is the gamble we take though. That is the Pro and Con of SLs. While, in regards to my scalpers vs day traders, SLs and no SLs is another open discussion and it is very well linked. The only problem I have with not having them is the combination

1) of a black swan event or
2) a major selling/buying frenzy in the opposite direction to where you are
3) and then something that is out of your control ie power failure, computer meltdown, earthquake what ever. In the process of a scalper who may be taking higher risked trades based on the size...

I agree, I have a SL at 2x's what I'll normally try to be out with, it does get there at times, as it's 10+spread .

That EJ move from know where today, even with my -10SL likely would of filled @-30 to -40 area, which would be a huge chunk of my account, my account is sacrificial though and I can add more when needed, with a 100K account NO Way I'd trade at this risk % ofcourse. Min Lot $1 per pip dictates this for me.

I would suggest the OP has a worst case ass saving stop in, for power cuts and other disasters even if it's 1 you hope never to hit.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #131
  • Feb 9, 2010 4:23pm Feb 9, 2010 4:23pm
Quoting Turveyd
Trading via a Futures account with a real ECN is likely where to go, but your going to need a lot more money to open 1 I'd bet.

I think 'the fool' is scalping okay via OANDA so far anyway, my FXCM account was doing weird things last time I was profitable, huge delay on exiting which a mate wasn't seeing, trades placed same time same network.
Turveyd,

I believe there are Futures brokers you can open a 2k margin account with, such as MB Trading.

I know so many traders who are having trouble with FXCM. I really don't understand it either. I have heard very good reports on Oanda though. It will be very interesting to see how this whole 10:1 leverage thing works out. That might be what would push me to futures.

Best of trading to you!

Coach
  • #132
  • Feb 9, 2010 4:42pm Feb 9, 2010 4:42pm
Quoting Coach1959
Turveyd,

I believe there are Futures brokers you can open a 2k margin account with, such as MB Trading.

I know so many traders who are having trouble with FXCM. I really don't understand it either. I have heard very good reports on Oanda though. It will be very interesting to see how this whole 10:1 leverage thing works out. That might be what would push me to futures.

Best of trading to you!

Coach

But at $10 per pip Min size ( possibly $12 from memory on EU ), might not have a Future for EJ you might need more than $2000 and whats the Min Margin requirement for a EU ?? Used to be $500 for pretty much everything 7years or so back, no idea these days though.

Level 2 Data would likely help for scalping, and being able to Sit on the BID to go Long ( you'll pay a commision ontop of the spread ), also helpful for scalping maybe.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #133
  • Feb 9, 2010 5:05pm Feb 9, 2010 5:05pm
Quoting Turveyd
But at $10 per pip Min size ( possibly $12 from memory on EU ), might not have a Future for EJ you might need more than $2000 and whats the Min Margin requirement for a EU ?? Used to be $500 for pretty much everything 7years or so back, no idea these days though.

Level 2 Data would likely help for scalping, and being able to Sit on the BID to go Long ( you'll pay a commision ontop of the spread ), also helpful for scalping maybe.
EU (Not sure on EJ but should be close to same)
Full contract=$12.50/tick
Mini contract=$6.25/tick
Micro mini=$1.??/tick

Commissions plus spread definitely something to be considered. Although if you consistently make 12-15 pips per trade, should not be a problem. Level 2 a big plus if you can trade that way.

EU daytrade margin on full contract $500-$1000 depending on broker.
Weird thing is that at $500, the full contract is at about 200:1 leverage.
I smell a rat with the CFTC!

Sorry for the digression from your thread Woo! Will keep more on topic from now on.

Coach
  • #134
  • Feb 9, 2010 5:10pm Feb 9, 2010 5:10pm
By the way Woo, good job on your trades this week. I am happy for you. Yes, it can be difficult psychologically to post all your trades because you think it is important to win every trade. I look at it this way...it is next to impossible to be right on every trade, no matter how good a trader might be. So far, you have shown an ability to exit your trades without the big loss and to me that is managing your account in a very productive way.

Keep up the good work!

Coach
  • #135
  • Feb 9, 2010 5:37pm Feb 9, 2010 5:37pm
Quoting Coach1959
EU (Not sure on EJ but should be close to same)
Full contract=$12.50/tick
Mini contract=$6.25/tick
Micro mini=$1.??/tick

Commissions plus spread definitely something to be considered....

They do Mini and Micro Futures these days then, think it's 8 years since I had a futures account and not for long, too rich for my blood

Got to look into this soon, not there yet but few months hopefully.

Thanks
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #136
  • Feb 10, 2010 8:37am Feb 10, 2010 8:37am
http://img704.imageshack.us/img704/4149/part4q.jpg

from red=new trades. Made a 3 pip winner just now, which is not included in this picture.
  • #137
  • Feb 10, 2010 8:41am Feb 10, 2010 8:41am
Quoting Razor_trader
What was your starting capital if you dont mind. The results are good and you should be happy (which I am sure you are).

Razor
Starting capital is 700 dollar. Hower, ind im now up to 1215 buck.

However, ive more money in my bank for trading, and i dont se any reason to transfer these as well.


Im highly leveraged, so regarding stop loss..margin call will act as a stop loss hehe
  • #138
  • Feb 10, 2010 8:44am Feb 10, 2010 8:44am
2 more pips.
  • #139
  • Feb 10, 2010 8:51am Feb 10, 2010 8:51am
2 more pips again.
  • #140
  • Feb 10, 2010 9:51am Feb 10, 2010 9:51am
http://img153.imageshack.us/img153/226/part5.jpg

ok, about 50 trades, only 4 losses. Average loss size 20 dollar. Profit about 500 dollar.
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