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4% A Day Forever

  • #1,121
  • Feb 11, 2010 5:33pm Feb 11, 2010 5:33pm
Quoting Turveyd
After a huge move I normally find the market goes dead so I don't bother, but thats just me.
You are doing well though........aren't you?
  • #1,122
  • Feb 11, 2010 5:49pm Feb 11, 2010 5:49pm
Everyone HIDE!!!! LOL

Quoting TheGreatMilenko
You are doing well though........aren't you?
Annoying Precision
  • #1,123
  • Edited 5:29am Feb 12, 2010 5:16am | Edited 5:29am
ok I have been trying to play more long ball. I was waiting to get in short off the German GDP news. Freakin unannounced chinese reserve requirement news came out 2 minutes before the german GDP announcement. Didn't they know I only scalp after the news is out? Good moves at the bottom gave me 30 pips tho....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,124
  • Feb 12, 2010 5:44am Feb 12, 2010 5:44am
Quoting The Fool
ok I have been trying to play more long ball. I was waiting to get in short off the German GDP news. Freakin unannounced chinese reserve requirement news came out 2 minutes before the german GDP announcement. Didn't they know I only scalp after the news is out? Good moves at the bottom gave me 30 pips tho....

But But But but But, you promised us 4% per day, 30pips * 0.2% is 6% you better hurry up and give back 2% man


Ahhh for the balls, to jump on the down move just as it's starting and ride it to the bottom hey.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,125
  • Feb 12, 2010 5:57am Feb 12, 2010 5:57am
58 pips since the FO - 11.3% - and I am sitting out til 0530 AM here and US retail sales. Had a -4% day yesterday - overtraded, shoulda stopped at breakeven - got my hard sl hit in choppy pa too many times. This is my last week of all-night trading - have to start a sitework job next week so won't be able to do much more than FO/LO for a while....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,126
  • Feb 12, 2010 6:04am Feb 12, 2010 6:04am
Quoting The Fool
58 pips since the FO - 11.3% - and I am sitting out til 0530 AM here and US retail sales. Had a -4% day yesterday - overtraded, shoulda stopped at breakeven - got my hard sl hit in choppy pa too many times. This is my last week of all-night trading - have to start a sitework job next week so won't be able to do much more than FO/LO for a while....

58pips NICE and trading at night for you thats commited dude, I'm definately far to lazy not 1 trade all week here.

FO/LO is more than enough, make some guaranteed $$$$'s while growing the account still sounds good to me.

-4% is nothing, easy to say you should of stopped, but i'm sure there are other times where you'd of closed up, all easy to say after the fact.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,127
  • Feb 16, 2010 4:36am Feb 16, 2010 4:36am
tried to scalp dead money yesterday - broke even.

scalped at the LO to ZEW news tonight - broke even.

Prez Day/Lunar New Year a good one to remember to skip next time - make a 5-day weekend of it.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,128
  • Feb 16, 2010 5:04pm Feb 16, 2010 5:04pm
Quoting Turveyd
58pips NICE and trading at night for you thats commited dude, I'm definately far to lazy not 1 trade all week here.

FO/LO is more than enough, make some guaranteed $$$$'s while growing the account still sounds good to me.

-4% is nothing, easy to say you should of stopped, but i'm sure there are other times where you'd of closed up, all easy to say after the fact.
That's right my rich little trader friend. On a thread called 4% a day forever 4% one way or the other is nothing.
  • #1,129
  • Feb 16, 2010 6:55pm Feb 16, 2010 6:55pm
Hey all, with permission from TF....I just wanted to post my trade journal....I figure if nothing more, it will help you scalpers supplement your short term trades....

I had my site up a month ago, but the sucker crashed, so its back up again...

Hope you enjoy....

My Trade Journal....

In Charts We Trust!
  • #1,130
  • Feb 16, 2010 7:14pm Feb 16, 2010 7:14pm
Sorry to hear TF....I banked nearly 300 pips today......no scalps, about 1 week's worth of holding though.


Quoting The Fool
tried to scalp dead money yesterday - broke even.

scalped at the LO to ZEW news tonight - broke even.

Prez Day/Lunar New Year a good one to remember to skip next time - make a 5-day weekend of it.
In Charts We Trust!
  • #1,131
  • Feb 17, 2010 1:37am Feb 17, 2010 1:37am
Quoting X.Oden
Hey all, with permission from TF....I just wanted to post my trade journal....I figure if nothing more, it will help you scalpers supplement your short term trades....

I had my site up a month ago, but the sucker crashed, so its back up again...

Hope you enjoy....


My Trade Journal....

Hey X.,

If you want to talk about good trades here, feel free. I am going to be more scarce in coming weeks - have dayjob workload and only about 2 hrs a day to trade...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,132
  • Feb 17, 2010 7:53pm Feb 17, 2010 7:53pm
@ The Fool

don't overwork yourself man. health first, trading comes later

@ X.Oden

congrats on your 300 pips!
200 pips sl with 2% risk, so 300 pips means 3% of your total account i presume?

can you elaborate how you get your entries? i visited the site but found no explanation regarding the thought process of those entries you posted. looking forward for your insights
  • #1,133
  • Feb 17, 2010 8:58pm Feb 17, 2010 8:58pm
X.Oden

I stopped by your trade journal but I don't see a growth chart or other statistics that would show the performance of your strategy.
  • #1,134
  • Feb 17, 2010 9:00pm Feb 17, 2010 9:00pm
FX,

Not necessarily 3% on the gains. Usually more...depends on how I manage the trades...but risk is whatever my client is comfortable with. I'm a money manager. My clients cannot see the actual trades taken as I take them. They also have no access to the trading platform. All they see are report statements. Therefore, I post my trades as an option so they can view what I'm doing.

In terms of explanation as to how I take my entries, I simply try to get in early at a turning point of a move. At other times I will do breakouts, it just depends on what the market is doing at the time. I base my entries on support and resistance. Nothing special.





Quoting fx_disciple

@ X.Oden

congrats on your 300 pips!
200 pips sl with 2% risk, so 300 pips means 3% of your total account i presume?

can you elaborate how you get your entries? i visited the site but found no explanation regarding the thought process of those entries you posted. looking forward for your insights
In Charts We Trust!
  • #1,135
  • Edited 1:13am Feb 18, 2010 12:46am | Edited 1:13am
Quoting fx_disciple
@ The Fool

don't overwork yourself man. health first, trading comes later
hi fx_disciple - welcome to the FF.

I get burnt out on scalping from time to time and taking some time off from it is good. plus that allows me to do some longer term trades, which pay well, too, but not as well as scalping, at least not for me anyway. longer term i am shooting about a 50 pip sl so @0.02% of account per pip to risk 1% & looking for 100 pip wins or 2% account increase & I hit those full-on sometimes but I usually can score 2% scalping in 30-60 minutes at the FO/LO or NY open. But its definitely nice to enter a trade then turn off the pc & walk away. Anyway no choice when dayjob duty calls....

you are in Japan? Do you have a Japanese fx broker - or can you recommend one? My brother is a Japanese citizen & I have been talking to him about opening a fx trading account there in case the US brokers become over-regulated.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,136
  • Feb 18, 2010 3:49am Feb 18, 2010 3:49am
Quoting The Fool
you are in Japan?
sorry, i put it wrong there. i was in a hurry when i created the account, probably the mouse got scrolled down .
  • #1,137
  • Feb 19, 2010 5:07pm Feb 19, 2010 5:07pm
Hope you scalpers took advantage of the volatility this past week...
In Charts We Trust!
  • #1,138
  • Feb 19, 2010 6:17pm Feb 19, 2010 6:17pm
Quoting X.Oden
Hope you scalpers took advantage of the volatility this past week...
Well I missed the best of it. Screen time has been hard to find - and will be for next 4-6 weeks. There will be more of the same, though. When China gets back online in force next week I expect some good bull/bear battles. I will be trying to get into some good trades at the FO/LO, about the only time I will have to trade for a while.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,139
  • Feb 21, 2010 10:05am Feb 21, 2010 10:05am
Great thread, thanks for putting yourself on the net, you are an inspiration, keep winning week after week! My advice is to keep doing what works, including your % lot sizes, if you consistantly are increasing your account, you should be using money to trade by now that you have taken from the market and not your paycheck. Set your trading platform to show pips instead of currency earned/lost, that should help alot. Also, be aware that most retail brokers cut your leverage down around 25,000 USD.
  • #1,140
  • Feb 21, 2010 9:40pm Feb 21, 2010 9:40pm
Quoting akatom2u
Great thread, thanks for putting yourself on the net, you are an inspiration, keep winning week after week! My advice is to keep doing what works, including your % lot sizes, if you consistantly are increasing your account, you should be using money to trade by now that you have taken from the market and not your paycheck. Set your trading platform to show pips instead of currency earned/lost, that should help alot. Also, be aware that most retail brokers cut your leverage down around 25,000 USD.
Hi akatom2u,

Thanks for stopping by & I'm glad you got something out of the thread.

I don't have a problem trading the way I do & it works well for me but there's a burn-out element involved in it - I understand that though & the remedy is just to take breaks from trading and/or trade different methods, both of which are fine with me.

Your last point there is interesting - I have not heard of that one. I'm not sure it will ever apply to me, though. I have been thinking 5-lot max per trade is as high as I might go from one spot account. If Oanda cut my leverage I would move on....I'm waiting to see how proposed CFTC leverage limits play out anyway....
"If The Fool persists in his Folly he will become wise." - William Blake
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