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The College Trader

  • #421
  • Jul 21, 2010 3:32am Jul 21, 2010 3:32am
Yes. Always good to start while we are still young & energetic...

Cheers for college traders..
  • #422
  • Jul 21, 2010 6:19am Jul 21, 2010 6:19am
Quoting lolpie
I've always been interested in supply chain management and making things running more efficiently in general - any ideas/tips on how to get into the field?

EDIT: Anyone see that huge spike on EURGBP

Actually imo its not difficult to get into any field. just start researching companies and requesting to speak to people about their day to day jobs. If you show enough interest, you can gather "point of contact" with the company, when you maintain relations with that person and continually show them how interested you are and let them know how you are doing their purpose is to eventually vouche for you when it comes time to grab the position. this DOES WORK. thats the easiest way to enter the firm. ill look and see if i have any good books on this stuff. its VERY cool. I would also recommend any type of engineering or applied mathematics. thats a great way to get different kind of exposure!
  • #423
  • Jul 21, 2010 12:00pm Jul 21, 2010 12:00pm
God damn it! Set my TP at only 13 pips, I need to stop being so careless - could have easily racked in 100 on that AUD/USD short.
  • #424
  • Jul 21, 2010 1:59pm Jul 21, 2010 1:59pm
hey guys!

just thought id stop by and see whats up......good to see this thread is still at it!

here are some charts for everyone......

some resistance nearing 2800, serious support 2650-2633. I prefer selling near 2800. If your trading this pair, be careful, with all this stress test bs going around literally anything can happen......use proper MM and low acct risk

great RR ratio on aud/cad trade.....im looking to sell @ 9221 stops above 9260
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eujuly21b.jpg Size: 131 KB
Click to Enlarge Name: audcadjuly21.jpg Size: 144 KB
  • #425
  • Jul 21, 2010 7:06pm Jul 21, 2010 7:06pm
Asia session sucks, must have had to much sake the night before...

anyway waiting for london session. Lots of news tonight and in the morning..

waitin for direction
In hoc signo vinces
  • #426
  • Jul 22, 2010 4:39pm Jul 22, 2010 4:39pm
Still have my longterm positions...
Short USD/CAD @ 1.0385
Long USD/JPY @ 87.419

Also shorted some USD/CAD yesterday night for +101.9 pips.

Longed USD/CHF this morning for a scalp of +10 pips.

Currently shorted AUD/USD with a TP of ~50 pips at 8933, if I catch it in time and reassess indicators I may place a SL at BE and let it run down. Right now, there is strong support on the 3 hour and 1 hour charts for Stoch and RSI. Perhaps this will trade will be held for a few days if we don't see sudden movement down. Not familiar with this pair -I generally don't trade those I don't know, but there is support, even if that support of RSI/Stoch isn't a near perfect correlation like many pairs.

My issue is that I'm only allowed to trade at 8 o'clock-ish before I go to work and between 5-12 pm when I get back from work. So many pips during the trade sessions I could be grabbin'!

Oh well.
  • #427
  • Jul 22, 2010 6:40pm Jul 22, 2010 6:40pm
Quoting mfoste1
hey guys!

just thought id stop by and see whats up......good to see this thread is still at it!

here are some charts for everyone......

some resistance nearing 2800, serious support 2650-2633. I prefer selling near 2800. If your trading this pair, be careful, with all this stress test bs going around literally anything can happen......use proper MM and low acct risk

great RR ratio on aud/cad trade.....im looking to sell @ 9221 stops above 9260

ahhh got stopped out on both those..........im out now till london sesh ill post my setups around london open.
  • #428
  • Jul 22, 2010 6:57pm Jul 22, 2010 6:57pm
All eyes await the stress test...my thinking is they're gonna come out peachy to prop this thing up..I don't know how transparent these things will be.. I guess well see though
In hoc signo vinces
  • #429
  • Jul 25, 2010 10:08pm Jul 25, 2010 10:08pm
Hello everyone, it's been a wild year for me studying at UMass and working during this summer so I apologize for being a ghost. I will read through all the posts tmw.

A quick update:
-I studied charting, harmonics, quantum global, arbitrage, neural networking, J16 PA, Jacko anti hedge method, Vegas (1,4,daily methods), Mouteki ect each for a good six months (mostly simultaneously). These have given me a good base on the gamut of strategies out there.
-As of now, I am sick and tired of fixed/set methods. I am completely cutting loose of anything except global/central bank news as well as price action

I would also like to mention that I'm stuck in an all male dorm next year at UMass..Booooooo!!!
  • #430
  • Jul 26, 2010 3:22pm Jul 26, 2010 3:22pm
Shorting GBP/USD, yes, shorting. Last time I shorted this pair was in 2006 when I clearly shouldn't have -chaos ensued.

My reasoning...
3 Hour chart has Stoch and RSI support.
Haven't seen retracement since July 21st (see 1 Hour chart).
If July 26 closes around the same area we are seeing now (1.5481) Tenkan-Sen will cross Kijun-Sen, and Chikou Span will teeter on crossing for a bear trend.

Looking for 100-150 pips.

Comments anyone?
  • #431
  • Jul 26, 2010 4:32pm Jul 26, 2010 4:32pm
Quoting sqrt(-1)
Shorting GBP/USD, yes, shorting. Last time I shorted this pair was in 2006 when I clearly shouldn't have -chaos ensued.

My reasoning...
3 Hour chart has Stoch and RSI support.
Haven't seen retracement since July 21st (see 1 Hour chart).
If July 26 closes around the same area we are seeing now (1.5481) Tenkan-Sen will cross Kijun-Sen, and Chikou Span will teeter on crossing for a bear trend.

Looking for 100-150 pips.

Comments anyone?

thats a very dangerous trade right now.....keep tight stops in handy if ur trading live
  • #432
  • Jul 26, 2010 4:45pm Jul 26, 2010 4:45pm
I don't trade with stop losses, proper money management is the key I find.
  • #433
  • Jul 26, 2010 4:49pm Jul 26, 2010 4:49pm
Quoting sqrt(-1)
I don't trade with stop losses, proper money management is the key I find.
are you for real dude? are you trading live capital? trading with stops is proper mm..........ohh well everyones gotta learn a lesson sometime.
  • #434
  • Jul 26, 2010 5:08pm Jul 26, 2010 5:08pm
I've learned my lesson, GBP could hit 2.4 before my account liquidated.

EDIT...I'm live.
  • #435
  • Jul 26, 2010 5:19pm Jul 26, 2010 5:19pm
I very rarely place a stop loss. For various reasons I prefer to exit my position manually. Usually, the only times I place a stop loss is when I absolutely have to leave the computer while my position is open.

As for position sizing, I use an estimate of the maximum number of pip loss I'll likely tolerate and base my calculation on it.
  • #436
  • Jul 26, 2010 5:24pm Jul 26, 2010 5:24pm
Quoting Marv
I very rarely place a stop loss. For various reasons I prefer to exit my position manually. Usually, the only times I place a stop loss is when I absolutely have to leave the computer while my position is open.
I cant believe you guys arent using stops if ur trading live!

thats a recipe for disaster....right now theres low vol in markets, just wait till vol and volatility pick up. Youll def use stops.....the problem without using stops is that, beside the fact that price can move a hundred pips away from you in a matter of seconds, is that you keep bargaining with yourself. You say just 5 more pips and ill close it, then just 5 more, then 5 more, and before you know it ur now in the red 70 pips when you planned on getting out at 30....it will happen to you, i guarantee it. Just use SL.....if you wanna be successful in the long term youll need to make use of stops.
  • #437
  • Jul 26, 2010 5:44pm Jul 26, 2010 5:44pm
Quoting mfoste1
thats a recipe for disaster....
Not if you know what you're doing.

Quoting mfoste1
price can move a hundred pips away from you in a matter of seconds
I avoid times of such extreme volatility while trading.

You could say I'm a scalper who aims for around 10-15 pips a day over 1 to 3 trades.

I know what times to get in and what times to stay out.

Quoting mfoste1
you keep bargaining with yourself. You say just 5 more pips and ill close it, then just 5 more, then 5 more, and before you know it ur now in the red 70 pips when you planned on getting out at 30....it will happen to you, i guarantee it.
That would be called poor discipline. If you have it, you shouldn't be trading this way in the first place.

Quoting mfoste1
it will happen to you, i guarantee it.
No. Some people work hard on controlling their emotions and can eventually do it.
  • #438
  • Jul 26, 2010 6:02pm Jul 26, 2010 6:02pm
Quoting Marv
Not if you know what you're doing.



I avoid times of such extreme volatility while trading.

You could say I'm a scalper who aims for around 10-15 pips a day over 1 to 3 trades.

I know what times to get in and what times to stay out.



That would be called poor discipline. If you have it, you shouldn't be trading this way in the first place.



No. Some people work hard on controlling their emotions and can eventually do it.
so ur trading during low vol hrs, with no sl, ur going for 10-15 pips through 1-3 trades so 5 pips per trade? I assume ur not using limits either.........whats ur "mental stop"? 5 pips? You mean youre catching entries exactly spot on? so that means youre RR is less than 1:1? come on dude........you dont find anything wrong with that strategy?
  • #439
  • Jul 26, 2010 6:03pm Jul 26, 2010 6:03pm
Let me discuss what I meant by 'proper money management'. For 2000 unit lot sizes and 150 pip draw-downs...

Margin=103.62+(102.12+0.21*150)+(100.62+0.21*150*2)+(99.12+0.21*150*3)+(97.62+0.21*150*4)+...

This general expression above is the same as saying for the margin at a given iteration k as,
y(k)=(x+1.5k)+(0.21*150)(k-1) for all 1<=k<infinity where we let x=103.62-1.5=102.12 due to the variable margin upon each opening of position

After expansion,
y(k)=33k+70.62

Now represented as a sum,
http://img84.imageshack.us/img84/624...0100726194.gif

8 drops of 150 pips (1200 pips), lets the price run for USD/CAD to at least 0.9162 without a margin call based on my current account size. After this 'trade run' I will only short the pair because of my longterm outlook, but this gives you an idea of how I make my trades.


 http://img84.imageshack.us/img84/624/wolframa
  • #440
  • Jul 26, 2010 6:06pm Jul 26, 2010 6:06pm
Quoting sqrt(-1)
Let me discuss what I meant by 'proper money management'. For 2000 unit lot sizes and 150 pip draw-downs...

Margin=103.62+(102.12+0.21*150)+(100.62+0.21*150*2)+(99.12+0.21*150*3)+(97.62+0.21*150*4)+...

This general expression above is the same as saying for the margin at a given iteration k as,
y(k)=(x+1.5k)+(0.21*150)(k-1) for all 1<=k<infinity where we let x=103.62-1.5=102.12 due to the variable margin upon each opening of position

After expansion,
y(k)=33k+70.62

Now represented as a sum,[font=monospace]
http://img84.imageshack.us/img84/624...0100726194.gif

8...

lol im stupid.....i didnt understand any of that.....you should never let price move more than 100 pips against you......if you need more than 100pips to get a trade right, youve obviously done something wrong in your analysis.....go back to the drawing board. Trading isnt hard, people only make it hard on themselves.....
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