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  • #328,721
  • Nov 18, 2010 3:36pm Nov 18, 2010 3:36pm
Quoting Mr Hatch
until you have a feeling for the timeframes, and a conviction concerning the trade you want to take, just trade 1000 units for example with a 25 pip sl on m5 when things line up.
That is exactly what I'm doing

I've lost 240pips over these past three weeks in total.
  • #328,722
  • Nov 18, 2010 3:38pm Nov 18, 2010 3:38pm
Quoting reaperunique
That is exactly what I'm doing


and don't be shy to take profit (even too) early. nobody can take the banked pips from you.
  • #328,723
  • Nov 18, 2010 3:38pm Nov 18, 2010 3:38pm
Quoting Mr Hatch
okay, open up another chart in an M5 timeframe and draw the trendlines and support/resitances, then you can immediately see that 10 minutes ago there was a relatively low risk opportunity to go short as a scalp.
personally, i don't really like the m30, i can see more on m5, 15, H1 and H4 for intraday. you will need them all basically.

until you have a feeling for the timeframes, and a conviction concerning the trade you want to take, just trade 1000 units for example with a 25 pip sl on m5 when things line up.

Perfect chart for those desperate enough to trade this volatility.
  • #328,724
  • Nov 18, 2010 3:42pm Nov 18, 2010 3:42pm
Quoting reaperunique
this is my M30 chart of eur/usd

It's not like I've lost half of my bank, I trade with less than 1% of my account(I think it's 0,8%).
Also this forum isn't helping either, one moment people are screaming: "hurr IMMA SHOOOORT durp, we'r gonna seez 1.3 soon" not even 15 minutes later it's "long, 1.38 herz we come"
Their are some extremly good calls made in here. In-fact, between cloggy and worm, you could have netted over 200 pips this week with multi day swings, not even scalping in between. I'm sure they have pulled in far more than that. Pay attention to those who actually know what they are talking about. And even more, don't trade because they said so. Understand why they are making the call, find your own calls and go with it, and find out why or why not yours are lining up with.

You are obviously very emotional right now mate... calm down and relax. Their is no room for that in trading. It's infuriating, I know... we have all been their we have been learning. Only through time and experience will you get where you need to be. Get the thoughts of getting rich out of your head, and trade practice or very little amounts (which it appears you are doing). I wasn't content with going live until I had a system that produced at minimum, 70% wins. Took me over a year to figure that out and I have given my share of cash to the markets before I took a step back and evaluated what I needed to do.
  • #328,725
  • Nov 18, 2010 3:42pm Nov 18, 2010 3:42pm
Quoting cloggie
Perfect chart for those desperate enough to trade this volatility.
as i said, that's just a personal preference. i see many mentioning higher timeframes, but the m5 is smoother, and a single touch of a tl in m15 can be more than that on m5... but that's just me again.
  • #328,726
  • Nov 18, 2010 3:43pm Nov 18, 2010 3:43pm
Quoting Mr Hatch


and don't be shy to take profit (even too) early. nobody can take the banked pips from you.
The thing is, I do take profits from time to time, but it seems that it takes ages to get into the green but not even a second to be taken out.

And the profits that I take are much smaller than he losses that I make. It's just so depressing at times. I've been doing this for a year now, so it's not that long but it would be nice if I'm at least able to make some small gains per week.
  • #328,727
  • Nov 18, 2010 3:46pm Nov 18, 2010 3:46pm
Quoting reaperunique
The thing is, I do take profits from time to time, but it seems that it takes ages to get into the green but not even a second to be taken out.
Patience is the name of this game... I use to feel like that too. That the trading God's were completely focused on me not succeeding...

Scalping is not the way to go in forex if you do not know what you are doing. I certainly don't do it that much. Only breakout patterns and still I only look for 20-30 pip marks, and that is on the absolutely minimum m15.

Can't stomach anything less in forex, too volatile for me. I stay to equities for the 1m
  • #328,728
  • Nov 18, 2010 3:47pm Nov 18, 2010 3:47pm
Quoting reaperunique
The thing is, I do take profits from time to time, but it seems that it takes ages to get into the green but not even a second to be taken out.

And the profits that I take are much smaller than he losses that I make. It's just so depressing at times. I've been doing this for a year now, so it's not that long but it would be nice if I'm at least able to make some small gains per week.
Also, since it seems you are finding the exact top's/bottoms... why not sell when you think buy and buy when you think sell?

I bet you'll find you still have a 50% win rate...
  • #328,729
  • Nov 18, 2010 3:48pm Nov 18, 2010 3:48pm
Quoting cloggie
Top failed, some short scalps for the taking coming up here.

We have an increasingly rising support coming up underneath that NY top, not a lot of short scalps out there right now, I am looking at some more price compression at this level before we get another decent setup. That NY top is not going to last here and once that goes we can take another run at the high. We are running out of volatility though, next decent action will be the TY open.
  • #328,730
  • Nov 18, 2010 3:49pm Nov 18, 2010 3:49pm
consolidation,waititng for some BO.... maybe another test of 72 lvl,then back downwards


gn8 folks!
Hero calls followed by margin calls...
  • #328,731
  • Nov 18, 2010 3:49pm Nov 18, 2010 3:49pm
Quoting reaperunique
The thing is, I do take profits from time to time, but it seems that it takes ages to get into the green but not even a second to be taken out.

And the profits that I take are much smaller than he losses that I make. It's just so depressing at times. I've been doing this for a year now, so it's not that long but it would be nice if I'm at least able to make some small gains per week.
i was there. for me, a great help was to take a huge step back and take a look at the charts and think about the situation. where are we right now? are we in a trend, a consolidation? if it is a trend, is it the beginning? if it is a consolidation, where are the obvious boundaries for now? how far is it to reach one of these... and why not wait 'til we are there... and so on, and so on.
the result is, i take much less trades, but the ones i take are of higher probability to be successful. that's a process you have to go through, and i have to admit that i was lucky enough not to burn my account on that process.

thinking and being patient are two very valuable key features you will have to develop.

btw: i guess you are familiar with the most frequent chart patterns? look for them and trade them with consequence, eg wedges are very good to find and trade. don't deviate and you will see gains on your account.
  • #328,732
  • Nov 18, 2010 3:51pm Nov 18, 2010 3:51pm
Quoting reaperunique
this is my M30 chart of eur/usd

It's not like I've lost half of my bank, I trade with less than 1% of my account(I think it's 0,8%).
Also this forum isn't helping either, one moment people are screaming: "hurr IMMA SHOOOORT durp, we'r gonna seez 1.3 soon" not even 15 minutes later it's "long, 1.38 herz we come"
Unfortunately this forum is very much like that, there are a few people who are very good and reliable but only as a guide, we just need to recognise who they are
  • #328,733
  • Nov 18, 2010 3:54pm Nov 18, 2010 3:54pm
Quoting Mr Hatch
i was there. for me, a great help was to take a huge step back and take a look at the charts and think about the situation. where are we right now? are we in a trend, a consolidation? if it is a trend, is it the beginning? if it is a consolidation, where are the obvious boundaries for now? how far is it to reach one of these... and why not wait 'til we are there... and so on, and so on.
the result is, i take much less trades, but the ones i take are of higher probability to be successful. that's a process you have to go through, and i have to admit...
Patience is a huge part of this game... I've cooked 1 forex account and 2 equities accounts before before this simple little truth hit me; and only recently have I been able to actually increase my account size.
  • #328,734
  • Nov 18, 2010 3:55pm Nov 18, 2010 3:55pm
Quoting Mr Hatch
i was there. for me, a great help was to take a huge step back and take a look at the charts and think about the situation. where are we right now? are we in a trend, a consolidation? if it is a trend, is it the beginning? if it is a consolidation, where are the obvious boundaries for now? how far is it to reach one of these... and why not wait 'til we are there... and so on, and so on.
the result is, i take much less trades, but the ones i take are of higher probability to be successful. that's a process you have to go through, and i have to admit...
thanks man(and everybody else ofcourse) I do know this, I've read and read about this for the past year.
After a weekend I start pretty good but then when it's wednesday It seems I forget all about that, start chaging things etc,... and by the end of the week I lose all my profits and more...

BUT I will make this work
  • #328,735
  • Nov 18, 2010 3:56pm Nov 18, 2010 3:56pm
Quoting reaperunique
thanks man(and everybody else ofcourse) I do know this, I've read and read about this for the past year.
After a weekend I start pretty good but then when it's wednesday It seems I forget all about that, start chaging things etc,... and by the end of the week I lost all my profits and more...

BUT I will make this work

That's easy then, for the next few weeks only trade Monday/Tuesday, you'd be surprised how many traders don't trade on certain days for whatever reason.
  • #328,736
  • Nov 18, 2010 4:00pm Nov 18, 2010 4:00pm
Quoting cloggie
I don't scalp, I look for the 100 pip trades, some of which can lead to longer ones, I am not sure why you are confused about my long term view, purely speculative of course, it is 1.44. However there are 1,000's of tradeable pips between here and there.

My daily goal on fibre is to get more pips then the ADR is, I tend to shoot for 200-300 a day on fibre out of multiple trades in both directions. I don't scalp I trade the intraday SR levels that give me high probability trades. On a halfway decent day you can find a handful of 40-50 pip trades...
I'am interested to see what forms traders targets and biases especially experienced traders like you.
I'am still confused at your target level 1.44 you posted or the 1.42 level .
as you didnt say why you know the big buns are aiming at them.In your reply you say its pure speculation thats why I'am confused .

apart from bouncing at 3450 once and it being close to a 50 fib does this form your opinion of a solid bottom.?

This pair has a adr of 160 pips.
So your goal daily is 200-300 pips taking in the main move and multiple 40-50 pip moves.
I have seen some of your posts with your key levels.
I can't seem to pinpoint a post with actual entry and take profit target.
Or whether at the key level you will be long or short.
You do seem to call traders muppets. If you indeed are not scalping up and down at what point do you determine a trader to be a muppet when they post a long or short trade.?

I will reread some of your posts to see if i missed something.
I do remember someone posting you did a walkthrough one day I have tried to find these posts with specific entries you took.

It would make my day to see evidence that a trader here can actually not only be profitable but can consistently make 200-300 pips on a adr of 160 pips.whilst also trading other pairs to add 40% more profits.

I'am just trying to determine who the real muppets are.
Are there any other traders on the forum that claim such consistency that have any proof ?
making green pips large and red pips small this is my goal.
  • #328,737
  • Nov 18, 2010 4:03pm Nov 18, 2010 4:03pm
Quoting reaperunique
thanks man(and everybody else ofcourse) I do know this, I've read and read about this for the past year.
After a weekend I start pretty good but then when it's wednesday It seems I forget all about that, start chaging things etc,... and by the end of the week I lose all my profits and more...

BUT I will make this work
aha, there you are. you havejust given away a huge part of your problem.
advise: stop on wednesday morning and just look or demo trade for the rest of the week. stick to this, until your demoing gets profitable on wednesday, thursday and friday. friday is also called "the day that takes the gains of the week again". there are many of these simple pieces of wisdom out there that i thought of "hey, can't be true." but they are true. on friday, i consequentially reduce my position size to 20-40%, because fridays can be kind of strange.

from what i can see, you are still in "arriving"-process. you should take any precaution to keep every single dollar, euro or whatever your account holds to yourself for now. there are lots of people here that can evaluate a trade idea when you see one and post a chart, but wait for an answer. i did that a lot of times and you will soon find a few people whose judgements you kind of trust.

damn... there is so much to say about this, take care.
  • #328,738
  • Nov 18, 2010 4:04pm Nov 18, 2010 4:04pm
Quoting mfoste1
yea because banks love traders frontrunning them....
Frontrunning? I assume you mean exposing enough data to let the people know who is doing what in the banking realm to allow us retailers to help drive the force along side with them?
Know when to hold em, Know when to fold em!
  • #328,739
  • Nov 18, 2010 4:04pm Nov 18, 2010 4:04pm
Quoting paul1
I can't seem to pinpoint a post with actual entry and take profit target.
Or whether at the key level you will be long or short.

I never post my entries and exits anymore, I did for a while on the cable thread, but too many copied the trades without understanding MM and risk rewards so I stopped doing it.

Most of my posts are very clear whether I am long or short, I give the trigger and the targets.

I did a few complete walk troughs on a few days, and I mean pip by pip with each and every turn in the price from about the London open till the London close.

I am not a signal service, I will not give you the exact entries, I just post what triggers there are and what targets I have in mind, I then post the ranges and to what level the retrace will happen.

Look at the interaction with Pipwanderer today, I called the top to the pip and called the retrace to the pip, if you can't figure out what part of that is a long setup and what part is a short setup then you are in the wrong forum, this is an interactive trading forum

If you expect me to trade for you with every and each detail posted here, tough sh!t, you can't afford me.

And yeah, there are a lot of muppets here.

I made it easy for you, if you don't like my posts, click on the link in my signature.
  • #328,740
  • Nov 18, 2010 4:11pm Nov 18, 2010 4:11pm
Quoting goods
Frontrunning? I assume you mean exposing enough data to let the people know who is doing what in the banking realm to allow us retailers to help drive the force along side with them?

right....those reports arent worth a nickel. The banks dont care about retailers, were a fly on an elephants ass. They care about other institutional traders who actually have money they can take. Middle market like borkers care about retailers, cause when retailers loose they make money. Thats exactly why you should NEVER listen to a borkers recommendation or analysis. Those guys at places like daily fx and fxstreet etc. have NO clue what is going on....theyre muppets lol.
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