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  • #317,941
  • Nov 2, 2010 8:59am Nov 2, 2010 8:59am
Quoting PayTheLimit
Say green, how many trades do you average a day or week, thanks in advance PTL...
Around 50 round trip trades a week. But I scale into my position when its not clear and quickly taper off my position at any challenge of a level and just general price action.

I will go in with decent size when I am confident though. (Risking 5% on a position I plan to hold 1 week +)
  • #317,942
  • Nov 2, 2010 9:02am Nov 2, 2010 9:02am
Quoting T@rantula
There is more:

All PA traders need to know. The very basic of PA trading is buying support, selling resistance. Higher swing highs and higher swing lows determine an uptrend and lower swing highs and lower swing lows determine a downtrend.

Trendlines are a necessity. For me also PREVIOUS SWING highs or lows, long time resistance/support lines, trendlines, counter trend lines,retracement lines and round numbers. Fibos for adding confluence.

I prefer 70-30 in my favor rather than 50-50 on each trade
I agree but one thing you left out is you need to respect the tf you are on if you are trading this way, you have one min chart trendlines, 5 min, 15 min ect... all the way up to one month.

I have used 1 min for scalping and they have actually turned into some bigger than expected winners.
Know when to hold em, Know when to fold em!
  • #317,943
  • Nov 2, 2010 9:02am Nov 2, 2010 9:02am
Quoting fx|green
Around 50 round trip trades a week. But I scale into my position when its not clear and quickly taper off my position at any challenge of a level and just general price action.

I will go in with decent size when I am confident though. (Risking 5% on a position I plan to hold 1 week +)
risking 5% on any trade is crazy.

stan
  • #317,944
  • Nov 2, 2010 9:03am Nov 2, 2010 9:03am

thanks again...
Look Sharp/Trade Tight
  • #317,945
  • Nov 2, 2010 9:05am Nov 2, 2010 9:05am
Quoting druckenmillr
risking 5% on any trade is crazy.

stan

Perhaps he can afford to do that, You also need to realize he is a position trader.
Know when to hold em, Know when to fold em!
  • #317,946
  • Nov 2, 2010 9:06am Nov 2, 2010 9:06am
Quoting goods
Perhaps he can afford to do that, You also need to realize he is a position trader.
if he's Warren in disguise... the math is against him.

stan
  • #317,947
  • Nov 2, 2010 9:06am Nov 2, 2010 9:06am
Maybe...
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  • #317,948
  • Nov 2, 2010 9:06am Nov 2, 2010 9:06am
Quoting druckenmillr
risking 5% on any trade is crazy.

stan
Hardly.
  • #317,949
  • Nov 2, 2010 9:07am Nov 2, 2010 9:07am
Quoting druckenmillr
whatever works.

by the way... i think traders may by forgetting this is election day in the US.

Dems looking to get slaughtered... which is bullish dollar.

stan
Not necessarily....
  • #317,950
  • Nov 2, 2010 9:07am Nov 2, 2010 9:07am
Quoting druckenmillr
if he's Warren in disguise... the math is against him.

stan

If he is successful with his plan then all the power to him
Know when to hold em, Know when to fold em!
  • #317,951
  • Nov 2, 2010 9:09am Nov 2, 2010 9:09am
if 4048/50 does not hold em, bulls next target I see is 4074/76..
Look Sharp/Trade Tight
  • #317,952
  • Nov 2, 2010 9:09am Nov 2, 2010 9:09am
Quoting nebuman213
Hardly.
math not your strong point?

stan
  • #317,953
  • Nov 2, 2010 9:09am Nov 2, 2010 9:09am
Quoting druckenmillr
math not your strong point?

stan
LOL...obviously not yours.
  • #317,954
  • Nov 2, 2010 9:09am Nov 2, 2010 9:09am
Quoting goods
I agree but one thing you left out is you need to respect the tf you are on if you are trading this way.
I only respect TRENDING on a particular tf and make target price according to that particular TF.

I never enter a trade unless I spot a confluence.
  • #317,955
  • Nov 2, 2010 9:10am Nov 2, 2010 9:10am
Quoting moz66fx
Not necessarily....
i'm listening??

stan
  • #317,956
  • Nov 2, 2010 9:11am Nov 2, 2010 9:11am
Quoting T@rantula
I only respect TRENDING on a particular tf and make target price according to that particular TF.

I never enter a trade unless I spot a confluence.

Good man. What tf do you use? Do you also use fibs and trend line crossings for entries and confirmation of confluence?

Also regarding my post earlier on that monthly eu chart would you please elaborate on your thoughts with that?
Know when to hold em, Know when to fold em!
  • #317,957
  • Nov 2, 2010 9:11am Nov 2, 2010 9:11am
Quoting nebuman213
LOL...obviously not yours.
the changes of survival is this market risking more than 4% on a given trade are around 15%.

but i'm sure you knew that. lol
  • #317,958
  • Nov 2, 2010 9:11am Nov 2, 2010 9:11am
Quoting druckenmillr
risking 5% on any trade is crazy.
It's funny how people throw away numbers on how much risk is too much...without even taking the time to calculate what their system can take...and that's not only you but most people here...

you guys should really read this and try to apply it to your system...I did and it made a HUGE difference in my risk approach..

http://www.seykota.com/tribe/risk/index.htm
It's all about your stomach lining...
  • #317,959
  • Nov 2, 2010 9:13am Nov 2, 2010 9:13am
Quoting druckenmillr
the changes of survival is this market risking more than 4% on a given trade are around 15%.

but i'm sure you knew that. lol
Guess I'm in the 15%
  • #317,960
  • Nov 2, 2010 9:14am Nov 2, 2010 9:14am
Sellers have it if they want it. Lets see if we roll over.

GL to scalpers.

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