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  • #216,581
  • Mar 25, 2010 7:45pm Mar 25, 2010 7:45pm
Quoting dean walker
It depends on my lot size of ea trade I use differnt sizes.
For example if I have a short at 1.3310 and TP at 1.3255 I have a way of averaging between that pip distance what the first 2 trades need in profit for me to open up 2 more..

Now the simple quick way of doing this which more or less seems to work out the same is for every 60 pips you can scale in a max 2 times.. so 1-20 fitrst 2 trades.20-40 scale in2.40-60 scale in 2.

It works not 100% of the time but you see using the betting this way gives you much more control than a martingale...
[/quote]

Thank u sir. I will try this out.
  • #216,582
  • Mar 25, 2010 7:53pm Mar 25, 2010 7:53pm
Your very welcome. I have also attached a special template I made up which I use when I trade this way it really has helped me.
What you will see are many different ema lines that are all a deviation from 200MA. I designed this template from another system, modified it to suit me. It uses Fibonacci. Just load the template and check out the resistance on the green and red lines. These are strong indicators of having bounce backs and th lines move with the market of course..
Enjoy
Dean
Thank u sir. I will try this out.[/quote]
Attached File(s)
File Type: tpl lines_of_truth.tpl   14 KB | 240 downloads
  • #216,583
  • Mar 25, 2010 7:57pm Mar 25, 2010 7:57pm
Hey Gator, any view on where we stand with this upmove. I shorted the top but do not feel confident as bull seem to have some balls tonight,
  • #216,584
  • Mar 25, 2010 7:59pm Mar 25, 2010 7:59pm
Inserted Video
  • #216,585
  • Mar 25, 2010 8:03pm Mar 25, 2010 8:03pm
hey mike, is the pivot program you use on the videos in the list at the top of the page? thanks for the videos. i like the simple and logical way you look at this thing called forex.
  • #216,586
  • Mar 25, 2010 8:10pm Mar 25, 2010 8:10pm
Quoting arezab
Your word is about "Hedging" which in general means just putting some money in the market staying in there with no progress. Buying and selling here and there closing them for a small profit and not worrying about a losing position, keeping them open with an everlasting hope that market will return so that you can close all of them either in profit or BE and all of these because you have a large sum of money in your account ... I think this won't make any money for the trader, no matter if a robot or a living person is doing this.

The point...
If a trader knows what he is doing he won't have to hedge? LOL. There are no guarantees in trading. But then again where do you think the name hedge funs came from? They hedge their bets. Maybe not with the same currency, but still hedge none the less.Meaning that at 1 time they have a winner, and a loser. Now the way I get out of my hedges when needed. I add more to the winning side of the hedge thus defeating the loser. works out well in a trend. In a range, I simply hold the hedge. It's a range, it comes back.
All that is left in FF is just plain garbage. "Cloggie"
  • #216,587
  • Mar 25, 2010 8:10pm Mar 25, 2010 8:10pm
Quoting maneddi
hey mike, is the pivot program you use on the videos in the list at the top of the page? thanks for the videos. i like the simple and logical way you look at this thing called forex.
thanks.

ask me in a different way.

do you mean the indicator?

Mike
  • #216,588
  • Mar 25, 2010 8:11pm Mar 25, 2010 8:11pm
Thanks acumen, your videos are very interesting
Doing what you like is Freedom. Liking what you do is Happiness.
  • #216,589
  • Mar 25, 2010 8:14pm Mar 25, 2010 8:14pm
Quoting realjumper
Thanks acumen, your videos are very interesting
Mike
  • #216,590
  • Mar 25, 2010 8:17pm Mar 25, 2010 8:17pm
yes, indicator is what i meant. just got home from work and too tired to think straight.
  • #216,591
  • Mar 25, 2010 8:19pm Mar 25, 2010 8:19pm
Quoting realjumper
Thanks acumen, your videos are very interesting
Ditto! As usual Mike, thank you so much. I am trying to wait for these trades and the right hours and use this system almost exclusively. For me personally, it works. It also makes it possible by watching the longer term pivots/fibs to get in on some really good trades as time goes on.

Donnie
  • #216,592
  • Mar 25, 2010 8:25pm Mar 25, 2010 8:25pm
Quoting tonyo524
If a trader knows what he is doing he won't have to hedge? LOL. There are no guarantees in trading. But then again where do you think the name hedge funs came from? They hedge their bets. Maybe not with the same currency, but still hedge none the less.Meaning that at 1 time they have a winner, and a loser. Now the way I get out of my hedges when needed. I add more to the winning side of the hedge thus defeating the loser. works out well in a trend. In a range, I simply hold the hedge. It's a range, it comes back.
When I'm having a good time I always hedge my fun, .

I also think you are a mixing the concept of what a hedge fund does. A hedge fund takes different commodities or sectors to hedge with. They don't hedge the same item. They don't hedge banana sales with banana buys.
  • #216,593
  • Mar 25, 2010 8:28pm Mar 25, 2010 8:28pm
Quoting 2+2=4ex
When I'm having a good time I always hedge my fun, .
im pretty bored right now, what should or can i do to hedge my fun?
  • #216,594
  • Mar 25, 2010 8:28pm Mar 25, 2010 8:28pm
Nice Mike
Disclaimer: Check your 1m charts
  • #216,595
  • Mar 25, 2010 8:29pm Mar 25, 2010 8:29pm
dean, once again thank you for your posting of the template. I like the look of it. It is similar to some things I already have. I plan on keeping it up on a monitor. Good luck sir.
  • #216,596
  • Mar 25, 2010 8:31pm Mar 25, 2010 8:31pm
I just took the screen shot..it's from the template I gave you it's on a 15 min chart..observe how the market reacts to one of those green resistance lines it just cannot make it over that line. You will find this to always be the case now sometimes the market will right through as you can see on the green line just below the line I was speaking of but you notice that there has been no bounce backs from that line, the other one has tons..
Enjoy
Dean

Thank u sir. I will try this out.[/quote]
Attached Image (click to enlarge)
Click to Enlarge Name: lines of truth.jpg Size: 110 KB
  • #216,597
  • Mar 25, 2010 8:31pm Mar 25, 2010 8:31pm
Quoting maneddi
yes, indicator is what i meant. just got home from work and too tired to think straight.
a proprietary system I wrote.

m
  • #216,598
  • Mar 25, 2010 8:32pm Mar 25, 2010 8:32pm
Quoting uraceulose
Ditto! As usual Mike, thank you so much. I am trying to wait for these trades and the right hours and use this system almost exclusively. For me personally, it works. It also makes it possible by watching the longer term pivots/fibs to get in on some really good trades as time goes on.

Donnie
just a matter of time now.

fibs, pivots, trend lines and psych... it's all you need.

Mike
  • #216,599
  • Mar 25, 2010 8:34pm Mar 25, 2010 8:34pm
Quoting pipper
Nice Mike
appreciate the feedback.

m
  • #216,600
  • Mar 25, 2010 8:35pm Mar 25, 2010 8:35pm
Quoting acumen
just a matter of time now.

fibs, pivots, trend lines and psych... it's all you need.

Mike

Yes, as I get the hang of it more(mainly the psych part/minimizing DD) I will post my results and give credit where it is due. Thanks again
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