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Trendline Scalping 4hr timeframe

  • #1,241
  • Sep 19, 2010 4:15pm Sep 19, 2010 4:15pm
Quoting duffypratt
What's your average lot size on a trade? How many trades are you willing to keep open at once? And what percentage of your account are you willing to risk on any single trade? I'm always interested to hear how other people handle money management, and almost no one on this thread has addressed how much to risk on these trades.
I am lucky enough to have a pretty large fund to start with. I take money off the board when I have accumulated $5K. I do not try to double my account...only to keep it and pull profits out of it. I tried "letting it ride" but found that it begin NOT to feel like "real" money and I got careless with it. I like to trade 2 full contracts. I don't like more than 2 open trades at a time, but will sometimes have 3..watched carefully. I have a high tolerance for risk. I won't share anything else about my money management.
  • #1,242
  • Sep 19, 2010 4:27pm Sep 19, 2010 4:27pm
Quoting lawgirl21
USDCAD is range bound..meaning it does not know what it wants to do. Weekly trend is down, but daily trend is up which confirms indecision. I would stay out of it unless it breaks hard to one side or the other. Remember that we do not have much time to trade today.

UCAD is getting interesting, as it is breaking out of the range.
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  • #1,243
  • Sep 19, 2010 6:04pm Sep 19, 2010 6:04pm
You guys seem to have it under control. I'll add another neat thing....na....maybe I won't. (I'm busy counting the money I made)
  • #1,244
  • Sep 19, 2010 6:09pm Sep 19, 2010 6:09pm
Quoting cugir321
You guys seem to have it under control. I'll add another neat thing....na....maybe I won't. (I'm busy counting the money I made)
If it ain't broke........?
  • #1,245
  • Sep 19, 2010 6:10pm Sep 19, 2010 6:10pm
Quoting cugir321
You guys seem to have it under control. I'll add another neat thing....na....maybe I won't. (I'm busy counting the money I made)
I'm not seeing anything so far. Are you?
  • #1,246
  • Sep 19, 2010 6:14pm Sep 19, 2010 6:14pm
Looky here.....a line under price from sept 14th to 17th...3 tappies. Maybe a late entry...maybe. I may enter with a little price action. It's consolidating....when it moves....maybe

Not for the weak of heart.
  • #1,247
  • Sep 19, 2010 6:29pm Sep 19, 2010 6:29pm
Quoting lawgirl21
I am lucky enough to have a pretty large fund to start with. I take money off the board when I have accumulated $5K. I do not try to double my account...only to keep it and pull profits out of it. I tried "letting it ride" but found that it begin NOT to feel like "real" money and I got careless with it. I like to trade 2 full contracts. I don't like more than 2 open trades at a time, but will sometimes have 3..watched carefully. I have a high tolerance for risk. I won't share anything else about my money management.
I'm grateful for what you have shared and won't press further. It's interesting to hear your reasons for not compounding your account. Most people seem to have the opposite reaction to the accumulation of assets. As the money grows, it becomes more and more real, and that leads to making mistakes, but out of an overabundance of caution rather than carelessness.
  • #1,248
  • Sep 19, 2010 6:29pm Sep 19, 2010 6:29pm
My crystal ball indicator is giving me caution trend down on the 15min to the 1 hr tf for U/C. It's actually speaking it.

It may be leading me astray.
Quoting lawgirl21
UCAD is getting interesting, as it is breaking out of the range.
  • #1,249
  • Sep 19, 2010 6:44pm Sep 19, 2010 6:44pm
E/CHF

Watch tonight.

If it falls to the bottom line then it will probably be a nice long.
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  • #1,250
  • Sep 19, 2010 6:48pm Sep 19, 2010 6:48pm
Quoting cugir321
Looky here.....a line under price from sept 14th to 17th...3 tappies. Maybe a late entry...maybe. I may enter with a little price action. It's consolidating....when it moves....maybe

Not for the weak of heart.

I saw that, but I'm not liking it. Too late. It was beautiful 4 candles ago. Weekly, daily, and H4 in different directions. I'm staying out for now.
  • #1,251
  • Sep 19, 2010 6:55pm Sep 19, 2010 6:55pm
Quoting cugir321
E/CHF

Watch tonight.

If it falls to the bottom line then it will probably be a nice long.
Thanks for pointing this pair out. Not one I normally look at. All TFs are long. I will probably watch PA awhile longer, then go in.
  • #1,252
  • Sep 19, 2010 6:57pm Sep 19, 2010 6:57pm
Quoting lawgirl21
Thanks for pointing this pair out. Not one I normally look at. All TFs are long. I will probably watch PA awhile longer, then go in.
I just placed a pending buy order.
  • #1,253
  • Sep 19, 2010 7:02pm Sep 19, 2010 7:02pm
I think E/Chf will do a quick drop in the next hour and then party up. We'll see...

It seems a lot of pairs are consolidating.
  • #1,254
  • Sep 19, 2010 7:15pm Sep 19, 2010 7:15pm
U/CAD could be about to take a third tap....if you don't mind close taps it may be a short.

It just took the third tap.....as I type. well within 1 pip....I'll wait...It's a trend line from that last big spike down. Spike on the 17th.
  • #1,255
  • Sep 19, 2010 7:22pm Sep 19, 2010 7:22pm
A/J

Any thoughts on this one....it broke thru the line....coming back???
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  • #1,256
  • Sep 19, 2010 7:31pm Sep 19, 2010 7:31pm
Quoting cugir321
A/J

Any thoughts on this one....it broke thru the line....coming back???
Looks like a good set up for a long to me. On my watch list.
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  • #1,257
  • Sep 19, 2010 7:39pm Sep 19, 2010 7:39pm
My chart looks slightly different. Mine went through and is coming back up...

Just bought in at 80.40....long A/J

Here's my 4 hr chart

Quoting lawgirl21
Looks like a good set up for a long to me. On my watch list.
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  • #1,258
  • Sep 19, 2010 7:39pm Sep 19, 2010 7:39pm
Quoting cugir321
U/CAD could be about to take a third tap....if you don't mind close taps it may be a short.

It just took the third tap.....as I type. well within 1 pip....I'll wait...It's a trend line from that last big spike down. Spike on the 17th.
I like UCAD more as a breakout trade...but a pip is a pip...
  • #1,259
  • Sep 19, 2010 7:39pm Sep 19, 2010 7:39pm
looks good

Quoting cugir321
A/J

Any thoughts on this one....it broke thru the line....coming back???
  • #1,260
  • Sep 19, 2010 7:46pm Sep 19, 2010 7:46pm
I added my 4hr chart for A/J...to my last post.
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