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vsa with Malcolm

  • #16,881
  • Mar 21, 2011 10:39am Mar 21, 2011 10:39am
Quoting KinsaleForex
Quick in and out on Cable for 19 pips;
Well done. It would be a better indication of how well you did if, you told us what % of your BR you made on the trade. If you made 0.1% then it was a good trade but not really worth taking. If you made 2 or 3 % then it was a much better trade.

There is only 1 thing that matters in this business, how much money you made compared to how much money you have. (unless you're trading a huge account, then things change a bit).
  • #16,882
  • Mar 21, 2011 10:42am Mar 21, 2011 10:42am
Quoting Intel
Well done. It would be a better indication of how well you did if, you told us what % of your BR you made on the trade. If you made 0.1% then it was a good trade but not really worth taking. If you made 2 or 3 % then it was a much better trade.

There is only 1 thing that matters in this business, how much money you made compared to how much money you have. (unless you're trading a huge account, then things change a bit).
A grand total of 0%! I've been paper trading the 5min charts for the past week and will be for this week as well. So I can get used to them. Otherwise my R:R would have been 1:1 for 3%.
  • #16,883
  • Mar 21, 2011 10:43am Mar 21, 2011 10:43am
Quoting Intel
Well done. It would be a better indication of how well you did if, you told us what % of your BR you made on the trade. If you made 0.1% then it was a good trade but not really worth taking. If you made 2 or 3 % then it was a much better trade.

There is only 1 thing that matters in this business, how much money you made compared to how much money you have. (unless you're trading a huge account, then things change a bit).
RISK
  • #16,884
  • Mar 21, 2011 10:49am Mar 21, 2011 10:49am
Quoting KinsaleForex
A grand total of 0%! I've been paper trading the 5min charts for the past week and will be for this week as well. So I can get used to them. Otherwise my R:R would have been 1:1 for 3%.
Ah yes of course, I had forgotten you were paper trading it. Get stuck in and trade live micro lots or something. It is far better for your psychy.

@ Sono

Yes, the correct risk factor has to be built in to the trading plan. It is just 1 of many factors governing how much money you make......or lose .
  • #16,885
  • Mar 21, 2011 10:52am Mar 21, 2011 10:52am
Quoting Intel
Ah yes of course, I had forgotten you were paper trading it. Get stuck in and trade live micro lots or something. It is far better for your psychy.

.
To add to this, trading micro is a great way to test your retail broker. There will never be an issue with a demo account, as soon as you turn live things can change. Trading with real money even if it is small will give you an idea of how crooked your broker is.
  • #16,886
  • Mar 21, 2011 10:52am Mar 21, 2011 10:52am
Quoting pres78
SL moved to BE... SL or TP which will it be.
Out at BE... 1 trade today 0 pips and 0% Good day all in all.
Today's zone = Tomorrow's opportunity!
  • #16,887
  • Mar 21, 2011 10:52am Mar 21, 2011 10:52am
Hi,

Is the EU M15 bar at 1530 GMT a ND?

Thanks!
Ox
  • #16,888
  • Mar 21, 2011 10:56am Mar 21, 2011 10:56am
Quoting KinsaleForex
I was wondering about the NS as well, pres. Which bar?
Whole move down was on reducing volume so I thought there might be enough there to grab a few pips but I was wrong.
Attached Image
Today's zone = Tomorrow's opportunity!
  • #16,889
  • Mar 21, 2011 11:06am Mar 21, 2011 11:06am
Quoting pres78
Out at BE... 1 trade today 0 pips and 0% Good day all in all.
And now back up... shouldn't have moved to BE so quickly... no wait I shouldn't have entered a trade this late in the day on such a crappy, choppy, low range day. That's the better lesson.
Today's zone = Tomorrow's opportunity!
  • #16,890
  • Mar 21, 2011 11:15am Mar 21, 2011 11:15am
Quoting pres78
And now back up... shouldn't have moved to BE so quickly... no wait I shouldn't have entered a trade this late in the day on such a crappy, choppy, low range day. That's the better lesson.
Even if it had worked, it was not a good trade. There are not enough indications that price is going up at that exact point. Don't forget that price can fall on low volume.
  • #16,891
  • Mar 21, 2011 11:22am Mar 21, 2011 11:22am
Quoting Intel
Even if it had worked, it was not a good trade. There are not enough indications that price is going up at that exact point. Don't forget that price can fall on low volume.
Yeah it was crap... chased a trade and that's something I don't do.

Look at London now as they are getting ready to close... back up through 6200.
Today's zone = Tomorrow's opportunity!
  • #16,892
  • Mar 21, 2011 11:23am Mar 21, 2011 11:23am
Quoting Oxford
Hi,

Is the EU M15 bar at 1530 GMT a ND?

Thanks!
Ox
Yes it is.
  • #16,893
  • Mar 21, 2011 11:27am Mar 21, 2011 11:27am
1. Ultra high volume down bar
2. High volume up bar indicates buyers in bar 1
3. 4. 5. No supply and confirmed
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd m10.gif Size: 32 KB
  • #16,894
  • Mar 21, 2011 11:29am Mar 21, 2011 11:29am
Quoting pres78
Yeah it was crap... chased a trade and that's something I don't do.

Look at London now as they are getting ready to close... back up through 6200.
We can see now in hindsight that price has gone up but, taking a trade right there isn't a long term profitable venture.
  • #16,895
  • Mar 21, 2011 11:30am Mar 21, 2011 11:30am
Quoting Intel
We can see now in hindsight that price has gone up but, taking a trade right there isn't a long term profitable venture.
Agreed. Too choppy with no real confimed and consistant SOS (or SOW for that matter).
Today's zone = Tomorrow's opportunity!
  • #16,896
  • Mar 21, 2011 11:32am Mar 21, 2011 11:32am
Quoting Intel
Ah yes of course, I had forgotten you were paper trading it. Get stuck in and trade live micro lots or something. It is far better for your psychy.

@ Sono

Yes, the correct risk factor has to be built in to the trading plan. It is just 1 of many factors governing how much money you make......or lose .
I'm a spread better so I must find out what the minimum is I can trade per pip. Good idea though. Hadn't really crossed my mind to do that. I'm a firm believer in trading being heavily weighted towards psyche more than analysis. At least that's the case for me.
  • #16,897
  • Mar 21, 2011 11:35am Mar 21, 2011 11:35am
Quoting KinsaleForex
I'm a spread better so I must find out what the minimum is I can trade per pip. Good idea though. Hadn't really crossed my mind to do that. I'm a firm believer in trading being heavily weighted towards psyche more than analysis. At least that's the case for me.
50p per pip for you.
  • #16,898
  • Mar 21, 2011 11:37am Mar 21, 2011 11:37am
Quoting Intel
50p per pip for you.
Goto FXCM open a micro account with £100 and trade 0.01 lots instead of demoing. If you can train yourself to be disciplined and patient while trading such a small amount, you'll have no problem with your regular SB account.
  • #16,899
  • Mar 21, 2011 11:38am Mar 21, 2011 11:38am
Quoting Intel
50p per pip for you.
50c

Did you sign up yet or still weighing up options?

There was another nice test from 15:50 - 55 on Cable 5min, missed it on the way to work though.


Quoting Intel
Goto FXCM open a micro account with £100 and trade 0.01 lots instead of demoing. If you can train yourself to be disciplined and patient while trading such a small amount, you'll have no problem with your regular SB account.
I'll probably stick with the 50c, that's somewhere between a quarter and a sixth of what my average bet per pip is.
  • #16,900
  • Mar 21, 2011 11:45am Mar 21, 2011 11:45am
Quoting KinsaleForex
50c

Did you sign up yet or still weighing up options?

There was another nice test from 15:50 - 55 on Cable 5min, missed it on the way to work though.




I'll probably stick with the 50c, that's somewhere between a quarter and a sixth of what my average bet per pip is.
LOL ok. No I'm still not sure about the financial benefits. SBing is tax free but, the leverage limitations mean that I can only make about half the amount of profit per trade as regular trading(don't forget I trade setups very heavily). So I'm not sure it's financially worth it.....

save 40% on tax but lose 50%(ish) in profits.

What do you think?
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