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4% A Day Forever

  • #1,081
  • Feb 9, 2010 1:56pm Feb 9, 2010 1:56pm
Well heres some late advice. You may want to invest in aquiring a hedge EA as a last resort. Set it at like 25-30 pips.


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.
Annoying Precision
  • #1,082
  • Feb 9, 2010 2:12pm Feb 9, 2010 2:12pm
Quoting The Fool
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...

When the market dumps 40pips in a instant then there really isn't much the broker can do about it, bring back the FXCM Guaranteed SL days hey.

I guess a 40pip blow through would cost you 8% of your account, if 1 got you, 2 - 3 days to make up for.

It normally happens late at night the suicidal bored trades last 1 I was at $4 per pip with a $500 account, hence nearly wiping me out!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,083
  • Feb 9, 2010 2:33pm Feb 9, 2010 2:33pm
Quoting Turveyd
When the market dumps 40pips in a instant then there really isn't much the broker can do about it, bring back the FXCM Guaranteed SL days hey.
if I couldn't trust the broker to honor a stop loss
I'd be outta there.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,084
  • Feb 9, 2010 2:44pm Feb 9, 2010 2:44pm
Quoting The Fool
if I couldn't trust the broker to honor a stop loss
I'd be outta there.



Everyone may want to exercise extreme caution trading EURO pairs until the issues with Greece are figured out. The craziness today was because there was a rumor circulating that Germany was going to bail them out then they came out and said that they weren't. Even though Greece is just a few percent of the EURO GDP for whatever reason it's influencing the markets.
  • #1,085
  • Feb 9, 2010 2:56pm Feb 9, 2010 2:56pm
Quoting magnumfreak



Everyone may want to exercise extreme caution trading EURO pairs until the issues with Greece are figured out. The craziness today was because there was a rumor circulating that Germany was going to bail them out then they came out and said that they weren't. Even though Greece is just a few percent of the EURO GDP for whatever reason it's influencing the markets.
Greece should talk to Obama. He is the bailout aficionado.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,086
  • Feb 9, 2010 3:12pm Feb 9, 2010 3:12pm
Quoting magnumfreak



Everyone may want to exercise extreme caution trading EURO pairs until the issues with Greece are figured out. The craziness today was because there was a rumor circulating that Germany was going to bail them out then they came out and said that they weren't. Even though Greece is just a few percent of the EURO GDP for whatever reason it's influencing the markets.
I admit I am perplexed. If Greece gets a bailout how is that good for the euro? Doesn't it beg the question, "OK so you'll be bailing out Portugal, Spain, Ireland, et al? And so forget about tightening up the money supply?" And yet, if the PIG's get tough love instead, well that makes the markets nervous, because that leaves the whole question open - can the afflicted ez states work out of their respective jams?

I don't see how any of it gets the euro better off. So I might be inclined to scalp short and catch a fast southbound train. That is, if I didn't know that the strong USD has plenty of enemies - in high places - who know that 1.30 E/U murders the markets, killls the recovery.

So, quick scalps for me & that's all good. I'm up 7% on the day so far.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,087
  • Feb 9, 2010 4:23pm Feb 9, 2010 4:23pm
Quoting The Fool

So, quick scalps for me & that's all good. I'm up 7% on the day so far.

There right man, you can't do 4% per day cause you just keep going


Guess this means your in profit again!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,088
  • Edited Feb 10, 2010 3:03am Feb 9, 2010 6:55pm | Edited Feb 10, 2010 3:03am
small ball. 8 pips in the first 20 minutes of Tokyo. Gets 40-something on the day & still have Frankfurt.

edit: scalped more at Tokyo, pre-FO, and caught a 22 pip runner on the E/U drop across the LO & finished with about 75-80 pips, or about +15%, the best single day I have had in a while.
Attached Image (click to enlarge)
Click to Enlarge Name: Tokyo2-9-10.png Size: 68 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,089
  • Feb 10, 2010 4:17am Feb 10, 2010 4:17am
here's one for turveyd.

I knew the euro would break north from this flag.

but i made a bad entry & had to stop out as the trade went against me 5 pips.

then, the breakout happened seconds later - a 40-pip spike.

bummer
Attached Image (click to enlarge)
Click to Enlarge Name: 2-10-10eu.png Size: 65 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,090
  • Feb 10, 2010 5:47am Feb 10, 2010 5:47am
Quoting The Fool
here's one for turveyd.

I knew the euro would break north from this flag.

but i made a bad entry & had to stop out as the trade went against me 5 pips.

then, the breakout happened seconds later - a 40-pip spike.

bummer

I hate it almost as much as it moving against me when it fakes me out then runs for the hills.

A quick 8% profit for you in @5seconds hey!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,091
  • Feb 10, 2010 2:21pm Feb 10, 2010 2:21pm
Attached is Hokusai's famous "Great Wave of Kanegawa". See Mt. Fuji there? Hokusai was obsessed with Mt. Fuji. Below are his words summarizing his view on the development of his craft.

"From around the age of six, I had the habit of sketching from life. I became an artist, and from fifty on began producing works that won some reputation, but nothing I did before the age of seventy was worthy of attention. At seventy-three, I began to grasp the structures of birds and beasts, insects and fish, and of the way plants grow. If I go on trying, I will surely understand them still better by the time I am eighty-six, so that by ninety I will have penetrated to their essential nature. At one hundred, I may well have a positively divine understanding of them, while at one hundred and thirty, forty, or more I will have reached the stage where every dot and every stroke I paint will be alive. May Heaven, that grants long life, give me the chance to prove that this is no lie."
Attached Image
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,092
  • Feb 10, 2010 2:25pm Feb 10, 2010 2:25pm

Ur 73 fool?!?

Annoying Precision
  • #1,093
  • Feb 10, 2010 2:41pm Feb 10, 2010 2:41pm
Me too. I like money. And I like waves. Which is good because money moves in waves. If you can learn to ride the waves you can get lots of money.

Are money waves "natural"? Waves are natural & to a large extent predictable. But money is a contrivance of Man, so money waves are "artificial"? Man is natural, so his contrivances are, too. Money waves are predictable, too.

But are money waves serendipitous, or are they truly contrived? Where does the data come from? Is it "natural" and random? Or is it contrived, managed? It is interesting to follow the paper trail to the people who construct the fx trading & banking software & find their research papers on time series analysis, some of it concerned with waveform microstructure of fx price action. Is the interest in something that "naturally" occurs or is it in something that they want to induce?

Chart shows waves in 10s E/U price. Buy at the top sell at the bottom, or vice versa. A 20-pip range can be milked for 100's of pips. Zoom out and the waves are still there. Waves made of waves made of waves.
Attached Image (click to enlarge)
Click to Enlarge Name: EU2-1-10c.png Size: 86 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,094
  • Feb 10, 2010 2:42pm Feb 10, 2010 2:42pm
Quoting erikte279

Ur 73 fool?!?

I am most definitely no more than 6.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,095
  • Feb 10, 2010 2:48pm Feb 10, 2010 2:48pm
[quote=The Fool;3452272. Waves made of waves made of waves.[/quote]

Learning to surf these waves isnt easy.
Annoying Precision
  • #1,096
  • Feb 10, 2010 3:06pm Feb 10, 2010 3:06pm
Quoting erikte279
Learning to surf these waves isnt easy.
This is true, but neither are most extremely lucrative skills.

True there are waves made of waves made of waves. But sometimes the waveform price structure will be more apparent on different timeframes. It always pays to zoom in & out. If you find yourself in PA with waveforms evident on multiple tf's and there are confluences in the periodicity (ie, the wave peaks match across tf's) then you are in hog heaven.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,097
  • Feb 10, 2010 3:14pm Feb 10, 2010 3:14pm
I have studied some of the wave theories out there like Elliot Wave for example. For whatever reason I could not wrap my antique mind around the method. Doesn't mean it doesn't work or it's a bad idea just means it wasn't something for me. There are many who trade wave methods and do very well with it. Anyone who studies a chart for any length of time will have no choice but to agree with you that things move in waves. I am looking at a daily chart right now of EJ and the waves are very obvious.

In my opinion the waves are created by the psychology of the market. Fear and greed. Because of that they can be very predictable.
  • #1,098
  • Feb 10, 2010 3:16pm Feb 10, 2010 3:16pm
Agreed, I was just sulking for a minute. Today was a non-disciplined day, lost like 500
Annoying Precision
  • #1,099
  • Feb 10, 2010 3:24pm Feb 10, 2010 3:24pm
Quoting erikte279
Agreed, I was just sulking for a minute. Today was a non-disciplined day, lost like 500
ouch! Sorry to hear that. Figure out where things went wrong, make adjustments and keep going. Markets are a bit weird right now but still can be traded.
  • #1,100
  • Feb 10, 2010 3:32pm Feb 10, 2010 3:32pm
Countertrend and overpositioning = small stop = poof. Instead of trend and correct positioning = large stop = eventual rollover.

Im contemplating buying a cigar clipper and each non-disciplined day off with a finger. Thing is I really dont think I'd have the discipline to stick to that either
Annoying Precision
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