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Nearly Naked (Simple Trades)

  • #2,201
  • May 25, 2010 3:17pm May 25, 2010 3:17pm
Quoting mahsam
Hey Saxon,

Yea havent posted in a while cuz i got my finals going on and stuff so kinda hung up...! + my wife is constantly nagging abt me not spending time with her & being in front of the comp most of the times ... I am currently long on au looking for the .8334 level which is also the r1 on my chart. lets see how that goes currently +26 pips first green i have seen today! yesterday was good shorting aj make like +200 pips so things seem fine for now! But, after the margin call last week i am working with tight stops and smaller lots this...
Ya man, small lots to start for sure. Then you get a profit base and base all of your loss on that profit base. So lets say you start with 10,000. Trade small until you get to like 200 dollars in profit. Then you book a larger trade that only risks portions of your profit. Then eventually you will be at like 1000 in profit, then step up trade size and risk only portions of that 1K and eventually build. Capital preservation is the name of the game. Once you get a small profit buffer, then you will only be risking the "house's" money, not your own.
  • #2,202
  • May 25, 2010 3:19pm May 25, 2010 3:19pm
Quoting Saxon
Ya man, small lots to start for sure. Then you get a profit base and base all of your loss on that profit base. So lets say you start with 10,000. Trade small until you get to like 200 dollars in profit. Then you book a larger trade that only risks portions of your profit. Then eventually you will be at like 1000 in profit, then step up trade size and risk only portions of that 1K and eventually build. Capital preservation is the name of the game. Once you get a small profit buffer, then you will only be risking the "house's" money, not your own....
It's starts small, but builds expoentially, so patience is the name of the game too
  • #2,203
  • May 25, 2010 3:26pm May 25, 2010 3:26pm
Quoting Saxon
It's starts small, but builds expoentially, so patience is the name of the game too

Yup, I learned that the hard way! but seriously trading live is nothing like the demo! I learned trading on a demo acc. for over 9 months before going live! original demo started with 10K & worked it to 92K in 9 months, but that was with like aggressive strategy and all, like doubling my loss trade kinda like the martingale strategy! sure as hell wouldnt do that with my real money on the line hehe... but yea gonna build from small to big slow and steady


Mahsam
  • #2,204
  • May 25, 2010 4:16pm May 25, 2010 4:16pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Saxon
Traded the break on UCHF but Daily Piv is causing problems. UCAD is doing great.

Hi there Saxon.
Nice trades. I am in both UCHF and the UCAD as well.
Yes. the UCHF had some problems on the daily piv.
Funny thing: Just as I had the new daily pivot on one of my platform (printing at 1.1608) we cleared the previous pivot level. direction seems clear now.

Good luck and nice pips to you!
"Blue Horseshoe loves Anacott Steel!"
  • #2,205
  • May 25, 2010 4:39pm May 25, 2010 4:39pm
Quoting Tuner
Hi there Saxon.
Nice trades. I am in both UCHF and the UCAD as well.
Yes. the UCHF had some problems on the daily piv.
Funny thing: Just as I had the new daily pivot on one of my platform (printing at 1.1608) we cleared the previous pivot level. direction seems clear now.

Good luck and nice pips to you!
Good luck to you too!!!
Seems like we are doing pretty well:
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  • #2,206
  • May 25, 2010 4:49pm May 25, 2010 4:49pm
AU and EU are getting close to targets
  • #2,207
  • May 25, 2010 4:52pm May 25, 2010 4:52pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting calderone
I've spent the past 2 days trading with a hedge fund guy. lol I am almost done with him. Not my style, he makes up for his losses by doubling up etc. It's fine if you have a 3 million dollar account but most humans can't trade that way. lol
Hey there calderone,
Sounds funny. (So I in my first newbie-months I already acted like this big boy does. hehe)
Was not good for my account.. So good I got away from that (revenge-trade stuff)
But what would be interesting is the risk per trade (% of equity) of such a big boy then. (If that is an information you are allowed to spread on here )
What I read some time ago is that they risk "only" 0.x %
"Blue Horseshoe loves Anacott Steel!"
  • #2,208
  • May 25, 2010 5:06pm May 25, 2010 5:06pm
wasn't expecting AU to get hung up on "00", wanted it to get to confluence target ~8359
  • #2,209
  • May 25, 2010 5:08pm May 25, 2010 5:08pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Saxon
Good luck to you too!!!
Seems like we are doing pretty well:
Ya.. But some retrace again now on the U/CHF. let's see if the new daily piv. will be respected as as a resitance now.
I got my risk pretty low again. (pretty small lots)
Just after midnight here.
Will go to bed and see where my trades are tomorrow morning!

Take care!
"Blue Horseshoe loves Anacott Steel!"
  • #2,210
  • May 25, 2010 5:10pm May 25, 2010 5:10pm
Quoting Saxon
wasn't expecting AU to get hung up on "00", wanted it to get to confluence target ~8359
.
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  • #2,211
  • May 25, 2010 5:11pm May 25, 2010 5:11pm
Quoting Tuner
Ya.. But some retrace again now on the U/CHF. let's see if the new daily piv. will be respected as as a resitance now.
I got my risk pretty low again. (pretty small lots)
Just after midnight here.
Will go to bed and see where my trades are tomorrow morning!

Take care!
Hopefully in the green
  • #2,212
  • May 25, 2010 5:23pm May 25, 2010 5:23pm
Quoting Tuner
Ya.. But some retrace again now on the U/CHF. let's see if the new daily piv. will be respected as as a resitance now.
Might be a good place to to add to my shorts. If anyone missed the boat too, this might be a good time to get on.
  • #2,213
  • May 25, 2010 5:25pm May 25, 2010 5:25pm
Quoting Saxon
Might be a good place to to add to my shorts. If anyone missed the boat too, this might be a good time to get on.
Here is that new pivot he was talking about if anyone doesn't have it. Also, if you don't have a pivot indicator, I attached an awesome one too. watch out for UTL too, might have switched S/R roles.
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Attached File(s)
File Type: mq4 Tri Pivs.mq4   5 KB | 189 downloads
  • #2,214
  • May 25, 2010 7:07pm May 25, 2010 7:07pm
Quoting Tuner
Hey there calderone,
Sounds funny. (So I in my first newbie-months I already acted like this big boy does. hehe)
Was not good for my account.. So good I got away from that (revenge-trade stuff)
But what would be interesting is the risk per trade (% of equity) of such a big boy then. (If that is an information you are allowed to spread on here )
What I read some time ago is that they risk "only" 0.x %
This is how he trades: He looks at daily and 4hr, 1hr. Then he looks at price action on the smaller timeframes. He looks for a break of a level or a retrace in the trend. If he finds that there are multiple timeframes that support his entry he pulls the trigger. He does use moving averages-usually ema but will switch to sma during volatile times. He also has heiken ashi charts for while he is in the trade. Not rocket science at all and he does not pay enough attention to levels imho.

A regular position to him is 30 lots, light is 10 lots. He will feather in to full position when price retraces against him as long as it doesnt go above a certain price range.

The thing is-I've seen him jump into a trade off the 5m even though it isn't in agreement with higher timeframes. He really is fearless with that account. lol He has enough juice to be reckless and double up. 30 lots is slightly less than 1% of his account.

Crazy eh?

On a side note-Saxon is a far better trader hands down.
  • #2,215
  • May 25, 2010 7:16pm May 25, 2010 7:16pm
Quoting calderone
On a side note-Saxon is a far better trader hands down.
So who are you going to have manage your money when it's time to retire, Saxon's HF or this other guy?

I took a Long on A/U at 8250 and a Short on U/Chf at 1.1580.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,216
  • May 25, 2010 7:20pm May 25, 2010 7:20pm
Quoting MarcVUM
So who are you going to have manage your money when it's time to retire, Saxon's HF or this other guy?

I took a Long on A/U at 8250 and a Short on U/Chf at 1.1580.

No doubt!!!

A/U showing a hikkake on the daily. Good sign for longs.

May set a limit order on chf daily. sell limit 1.1605 sl 1.1713 tp- open
  • #2,217
  • May 25, 2010 7:31pm May 25, 2010 7:31pm
Quoting calderone
This is how he trades: He looks at daily and 4hr, 1hr. Then he looks at price action on the smaller timeframes. He looks for a break of a level or a retrace in the trend. If he finds that there are multiple timeframes that support his entry he pulls the trigger. He does use moving averages-usually ema but will switch to sma during volatile times. He also has heiken ashi charts for while he is in the trade. Not rocket science at all and he does not pay enough attention to levels imho.

A regular position to him is 30 lots, light is 10 lots. He will...
Thanks for that vote of confidence
  • #2,218
  • May 25, 2010 7:36pm May 25, 2010 7:36pm
Quoting MarcVUM
So who are you going to have manage your money when it's time to retire, Saxon's HF or this other guy?

I took a Long on A/U at 8250 and a Short on U/Chf at 1.1580.
I'm going to be pitching off my Pool soon to another manager and going to be moving to help with some other asset classes we are introducing into the Capital Management Umbrella, so I will only be trading my personal account pretty soon. The umbrella is moving to add, Private Equity, REI, Traditional Assets, Fixed Income, Proprietary Structured Products, etc... And I have to help get those set up. I will still be in FF posting though.
  • #2,219
  • May 25, 2010 7:46pm May 25, 2010 7:46pm
For GU, EU and UCHF, I am between targets so I don't have any setups on those yet.

My AU targets are the same as my earlier posts

A lot of my targets don't look like they will be reached for a few hours so I am going to step off the desk for a bit, be back in 2 or 3 hours.
  • #2,220
  • May 25, 2010 7:48pm May 25, 2010 7:48pm
Quoting Saxon
I'm going to be pitching off my Pool soon to another manager and going to be moving to help with some other asset classes we are introducing into the Capital Management Umbrella, so I will only be trading my personal account pretty soon. The umbrella is moving to add, Private Equity, REI, Traditional Assets, Fixed Income, Proprietary Structured Products, etc... And I have to help get those set up. I will still be in FF posting though.
Oh boy, I don't think it will be the same in here!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
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