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  • #422,561
  • Apr 15, 2011 10:43am Apr 15, 2011 10:43am
Quoting pipnapper
congrats.
I used to only scalp when i began trading. Surprisingly I was better in the beginning and got worse the more i learned.

May I ask about your leverage and % SL and PIP SL.

I see 7 sell orders in a row at about 8:30 on your chart, you cover later. Do you add to your Positions when the Market goes against you?
Me too I was extremely good when I started and now as I am learning it worse and worse.. Did you win that trade from yesterday?
  • #422,562
  • Apr 15, 2011 10:44am Apr 15, 2011 10:44am
Quoting pipnapper
congrats.
I used to only scalp when i began trading. Surprisingly I was better in the beginning and got worse the more i learned.

May I ask about your leverage and % SL and PIP SL.

I see 7 sell orders in a row at about 8:30 on your chart, you cover later. Do you add to your Positions when the Market goes against you?
if the market goes against and my drop dead sl hasn't been hit AND i still like the trade i'm adding. if the 50 SL get's hit i'm done all lots closed.
  • #422,563
  • Edited 11:26am Apr 15, 2011 10:46am | Edited 11:26am
Quoting gatorinla
all breakouts including flags have to be broken... its not a flag without a breakout to prove it was a flag. the formation of any shape is null and void if it don't develop.
Yes. Plenty of times formations are nullified.

What I was trying to point out is, the week you were referring to was part of a pullback in a downtrend, and that particular candle a strong rejection of prior support as resistance, which made it a higher probability short signal.

Best of luck.


.
  • #422,564
  • Apr 15, 2011 10:55am Apr 15, 2011 10:55am
Quoting w1nner
Me too I was extremely good when I started and now as I am learning it worse and worse.. Did you win that trade from yesterday?
no I got out at 4460.

I dont know why, when I started I was unbiased had no idea where the market is going and never looked at any others opinions. Did very well actually, but then blew my account.
Then started to trade longer tfs. This also didn't go too well.

Blew another account. Then quit for a while and came back 18 months ago.
Now I'm trading lower leverage and things are ok, but I barely scalp anymore.
I liked scalping the most, i think it is more stress to be in the market for hours or even days.
I will have to paperscalp for a while and get back to scalping, it's much more fun, but very time consuming.
  • #422,565
  • Apr 15, 2011 10:58am Apr 15, 2011 10:58am
Quoting fxpreacher
if the market goes against and my drop dead sl hasn't been hit AND i still like the trade i'm adding. if the 50 SL get's hit i'm done all lots closed.
ok, so if you add to your positions a few times, do you close your Positions at different prices or all at once?
  • #422,566
  • Apr 15, 2011 11:07am Apr 15, 2011 11:07am
Quoting Egy2011
4455 held nicely, i belive the next wave will be 4420
took some time, but eventually here we are,tp 4425
  • #422,567
  • Apr 15, 2011 11:10am Apr 15, 2011 11:10am
Quoting pipnapper
ok, so if you add to your positions a few times, do you close your Positions at different prices or all at once?
different places mostly. i'm only looking for 5 or 10 then i'm out. as long as the pa doesn't take out my drop dead i'm still in with a float
  • #422,568
  • Apr 15, 2011 11:13am Apr 15, 2011 11:13am
Quoting w1nner
I aggree I'm already destroyed.. But if you are not here how can you make profit and idenfity the good setups.
Some of us do swing trade, ya know...
  • #422,569
  • Apr 15, 2011 11:14am Apr 15, 2011 11:14am
Quoting Venice
Some of us do swing trade, ya know...
how do you sleep at night?
  • #422,570
  • Apr 15, 2011 11:15am Apr 15, 2011 11:15am
Quoting fxpreacher
different places mostly. i'm only looking for 5 or 10 then i'm out. as long as the pa doesn't take out my drop dead i'm still in with a float
As for me, I will never, ever add to a losing position.

I only add to positions when there is no risk involved.

Meaning, I add to the position, my addition gets averaged and my stop goes to a BE position on it.

The only thing that changes at this point is profit that has yet to be taken.
  • #422,571
  • Apr 15, 2011 11:15am Apr 15, 2011 11:15am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting w1nner
I aggree I'm already destroyed.. But if you are not here how can you make profit and idenfity the good setups.
That right there is the holy grail!

Making 20-50 pips on one or two trades, and walking away for the day. Who cares whether a monster set up will appear later in the day. Forget about it.

If you can do that, then you have indeed found the Holy Grail within yourself.

Thing is, most of us can't.
  • #422,572
  • Apr 15, 2011 11:16am Apr 15, 2011 11:16am
Quoting fxpreacher
how do you sleep at night?
In my bed?!? Though some times I do like my couch... lol...

All my orders when swing trading are set between 6:00 pm and 12:00 am EST, before London is even open.

Candles are candles, PA is PA, regardless of time frame.

I also don't trade with stops on daily charts. I am fully prepared with each order I enter to have it run against me from my entry the current ADR. Usually, when this happens it is impulse though and will re-correct itself the next day, as we seen with euro this week. Regardless, if a candle close has moved to a point where I am wrong. Close the order, and move on to the next one.
  • #422,573
  • Apr 15, 2011 11:19am Apr 15, 2011 11:19am
Thanks Gator,
I have put 1.4530 as SL for peace of mind.
Have a good weekend
B.
Quoting gatorinla
none yet.. looking to add ... a L tf close above 4520 would get my attention.. but the rest i don't worry about.
  • #422,574
  • Apr 15, 2011 11:19am Apr 15, 2011 11:19am
Quoting apt
That right there is the holy grail!

Making 20-50 pips on one or two trades, and walking away for the day. Who cares whether a monster set up will appear later in the day. Forget about it.

If you can do that, then you have indeed found the Holy Grail within yourself.

Thing is, most of us can't.
Nice Stats book there apt.
  • #422,575
  • Apr 15, 2011 11:27am Apr 15, 2011 11:27am
Quoting Fudomyo
Yes. Plenty of times formations are nullified.

What I was trying to point out is, the week you were referring to was part of a pullback in a downtrend, and that particular candle a strong rejection of prior support as resistance, which made it a higher probability short signal.

Best of luck.


.
agree.
those who can, do. those who cant, talk about those who can
  • #422,576
  • Apr 15, 2011 11:30am Apr 15, 2011 11:30am
Quoting Venice
Nice Stats book there apt.
myfxbook... however... i can't use it with oanda.
  • #422,577
  • Apr 15, 2011 11:31am Apr 15, 2011 11:31am
I am getting solid conformation as of now with one of my indi how the PA will be for next week... I think for now a temporary top is in place at 1.452x and we might see a gap down next week...
  • #422,578
  • Apr 15, 2011 11:31am Apr 15, 2011 11:31am
Quoting pipnapper
no I got out at 4460.

I dont know why, when I started I was unbiased had no idea where the market is going and never looked at any others opinions. Did very well actually, but then blew my account.
Then started to trade longer tfs. This also didn't go too well.

Blew another account. Then quit for a while and came back 18 months ago.
Now I'm trading lower leverage and things are ok, but I barely scalp anymore.
I liked scalping the most, i think it is more stress to be in the market for hours or even days.
I will have to paperscalp for a while...
I regret that, I wanted to recommend to put the TP at BE+1-2 pip. It is what I did in a similar situation. I had a 30-40 winner and some looser trade statistics but I risked a lot. Then I blew another account with one bad trade. Now I am closing the trades manually when it reaches the "mental" stop but doing that I lose more than I win and all of my trades was a winner in some minutes/hours (except some ones when I knew initially I was wrong). I say the candle close matters but by the time of the close the price can go a lot away. Handling stoploss is the hardest thing for me.
  • #422,579
  • Apr 15, 2011 11:34am Apr 15, 2011 11:34am
Quoting fxpreacher
myfxbook... however... i can't use it with oanda.
Yup, I have one as well, however, not for public viewing.
  • #422,580
  • Apr 15, 2011 11:35am Apr 15, 2011 11:35am
Quoting apt
That right there is the holy grail!

Making 20-50 pips on one or two trades, and walking away for the day. Who cares whether a monster set up will appear later in the day. Forget about it.

If you can do that, then you have indeed found the Holy Grail within yourself.

Thing is, most of us can't.
This is the most sticky statement i've read so far on ff.com .....

thats what i mean with the statement on my pinboard...

The holy grail is the correct mindset.
Hero calls followed by margin calls...
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