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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #15,541
  • Jun 28, 2011 9:05am Jun 28, 2011 9:05am
Quoting nAVIN2007
thats kinda what scalping is..aint easy

dario try something..open 20 trades..dont care where u do it..just enter and as soon as yur in profit exit (target 5 pips)..dont think just enter give yourself 30 pips stop max

do it 100 times and see what kind of profit u have made..i reckon ud get at least 85%

i bet u practically will get all 20

i cannot ever remember entering a trade and at some time it wasnt in profit initially , only difference is i never f**kin took it

something to think about
Nav... sorry to say that.. but u are wrong in this. if u miss 4 trades out of 20, your net loss will be 4X30= 120 pips. Your net profit will be then 16X5=80 pips... 40 pips down. if u get 3 trades wrong that will make 3X30= 90 pips loss, while 17 winning trades X 5 pips = 85 pips. Still 5 pips loss.

Now... 85% of trades that u took right (17 over 20) will still give u 5 pips loss. THAT is why MM is the only way to make it in this business
I don't want a job, i want money!
  • #15,542
  • Edited 9:34am Jun 28, 2011 9:11am | Edited 9:34am
Quoting dario1002
Nav... sorry to say that.. but u are wrong in this. if u miss 4 trades out of 20, your net loss will be 4X30= 120 pips. Your net profit will be then 16X5=80 pips... 40 pips down. if u get 3 trades wrong that will make 3X30= 90 pips loss, while 17 winning trades X 5 pips = 85 pips. Still 5 pips loss.

Now... 85% of trades that u took right (17 over 20) will still give u 5 pips loss. THAT is why MM is the only way to make it in this business
i can tell u from past experience i have a friend that has done this..500 wins without a loss..risk reward sucks but if u win this many times u still make money

there is a point almost any1 can enter and exit and make a profit..it cutting the losser that can kill

be positive and dont focus on the loss
(some people believe (me included u focus on whatever u make it happen)


another thing trading creates a paradox sometimes the riskier the more likely to be correct..sometimes mm cannot fit unless u have flexability in lot size......example big ass pin wick 200 pips..

if yur playin on a demo try it bro..it will show u something
u are correct thou..with regards to mm

Quoting nAVIN2007
stay long till 1.61..should come very soon
Attached Image (click to enlarge)
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  • #15,543
  • Jun 28, 2011 9:36am Jun 28, 2011 9:36am
big cable short off the monthly fellas
Thank You
  • #15,544
  • Jun 28, 2011 9:44am Jun 28, 2011 9:44am
Quoting wormboy
big cable short off the monthly fellas
Are you already in? I was considering it next week, due to reversal pattern on 1MO chart... , but your posting about EURUSD and waiting for months close keep me from pulling the trigger too early.
"Put your shoulder to the wheel!"
  • #15,545
  • Jun 28, 2011 10:07am Jun 28, 2011 10:07am
ok... closed another scalp for good. I assume is the luck of the novice.. or just, the fact that in demo things get easier and u dare doing things that u wouldn't do with real money i.e. short at 4382 with 20 pip SL and 20 pips TP.
I don't want a job, i want money!
  • #15,546
  • Jun 28, 2011 10:13am Jun 28, 2011 10:13am
Quoting dario1002
ok... closed another scalp for good. I assume is the luck of the novice.. or just, the fact that in demo things get easier and u dare doing things that u wouldn't do with real money i.e. short at 4382 with 20 pip SL and 20 pips TP.
gain the confidence on demo and emulate it..the best u can on live..demo can give u belief
  • #15,547
  • Jun 28, 2011 11:35am Jun 28, 2011 11:35am
Quoting wormboy
big cable short off the monthly fellas
Cute squeeze eh.

Quoting proletary
Are you already in? I was considering it next week, due to reversal pattern on 1MO chart... , but your posting about EURUSD and waiting for months close keep me from pulling the trigger too early.

Wouldn't have posted the call if I wasn't taking it my friend
My position is now locked in the money.

Btw, I said we ought to wait for the monthly close for the euro because we need the current monthly candle to close bearish to confirm the dark cloud cover formation's validity. The monthly cable is already very bearish. I simply cannot see cable flying 450 pips in a day to overhaul the current bearish outlook. Every time cable rise, I will look for sell opps.

Have a good one.
Thank You
  • #15,548
  • Edited 1:06pm Jun 28, 2011 12:18pm | Edited 1:06pm
update:- flat took profit and ran..

azim good call bro..i didnt see that one at all

approaching end of month..movements can be erratic
  • #15,549
  • Jun 28, 2011 5:27pm Jun 28, 2011 5:27pm
Quoting nAVIN2007

approaching end of month..movements can be erratic
Quarterly end as well. And oh ... nfp Friday. Yep, glad I took the time off
Thank You
  • #15,550
  • Jun 28, 2011 8:52pm Jun 28, 2011 8:52pm
Quoting wormboy
Quarterly end as well. And oh ... nfp Friday. Yep, glad I took the time off
This July nfp happens 2nd Fri the 8th
cheers
  • #15,551
  • Jun 29, 2011 12:24am Jun 29, 2011 12:24am
Hi Guys,

I know this is not a AUD JPY thread, and please bear with me as I practice my computer skills, for some reason computers do not like me.
I live in New Zealand and am often asleep when most of the trading goes on, ie: late London early New York, I have 2 trades on today both pending orders that have been on since 10 00 hrs local time or 17 00 hrs EST.

They are AUD JPY 0.07 size long@ 85.146 SL 84.690 tp 86.156 and AUD USD size 0.06 long at @1.0511 and SL 1.04480 TP 1.05468, to state the obvious Australia and japan have been trading for some time and there has been very little movement.

Reason takenaily candle S/R levels and stochastics support both trades and across the board the AUD looks strong on the dailies and weekly against the other currancies my broker offers, and the JPY and same same the USD is looking short on the daily but just trending down on the weekly, I am not so sure about this one.

Please bear with me as I try to get an attachment on and contribute intelligently to your fine and well managed group.

Regards Allan.
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  • #15,552
  • Jun 29, 2011 12:36am Jun 29, 2011 12:36am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hello Allan,


Aussie, kiwi and chf are damn strong currencies and why not given all the financial turmoil major countries have gone through these 3 managed themselves well plus 2 of them they are paying good interest!

Good trade on AJ it made a significant up move on the daily. Not sure about AU but you have realistic targets and hope they will be met

ta
ams


Quoting qp2
Hi Guys,

I know this is not a AUD JPY thread, and please bear with me as I practice my computer skills, for some reason computers do not like me.
I live in New Zealand and am often asleep when most of the trading goes on, ie: late London early New York, I have 2 trades on today both pending orders that have been on since 10 00 hrs local time or 17 00 hrs EST.

They are AUD JPY 0.07 size long@ 85.146 SL 84.690 tp 86.156 and AUD USD size 0.06 long at @1.0511 and SL 1.04480 TP 1.05468, to state the obvious Australia and japan have been trading for...
  • #15,553
  • Jun 29, 2011 1:32am Jun 29, 2011 1:32am
Quote
Aussie, kiwi and chf are damn strong currencies and why not given all the financial turmoil major countries have gone through these 3 managed themselves well plus 2 of them they are paying good interest!

Good trade on AJ it made a significant up move on the daily. Not sure about AU but you have realistic targets and hope they will be met
Hi Ams,

Many thanks for your reply, both my orders are pending awaiting retarcement, and neither has been filled the weakness with trading like this is every trade that gets stopped out is taken although not every trade that hits the TP is filled, if it does not retrace enough. Looking at the AU at present it is closer to my TP than entry level indicating I have missed the buss, some times it pays to go in at market.

Happy trading Allan.
  • #15,554
  • Jun 29, 2011 3:03am Jun 29, 2011 3:03am
morning fellas... that is for the sake of what different 4h charts can show.

Here is the formation of one of the 4h chart that i just got on EU. This last candle closed about 2 mins ago. Not sure it's reliable, but i wouldn't go against it big time.
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I don't want a job, i want money!
  • #15,555
  • Jun 29, 2011 3:30am Jun 29, 2011 3:30am
Quoting wormboy
Quarterly end as well. And oh ... nfp Friday. Yep, glad I took the time off
Hi Azim...
Now we are talking ..i mean YOU back to the HHHTF ( highest TimeFrame )
Although price can play in the Bars Range before it does its " WORK "
Quaterly chart below.. Two more days before it Completes
take care

baz


USD Spot.png
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  • #15,556
  • Jun 29, 2011 3:54am Jun 29, 2011 3:54am
ok... as it had to be proven... tried to scalp with micro lots. First 2 trades didn't take because of fear/not willing to risk/bad timing and all the reasons i could find. 3rd trade taken and stopped out in no time
I don't want a job, i want money!
  • #15,557
  • Edited 4:10am Jun 29, 2011 3:59am | Edited 4:10am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I am not sure what's the trend for today but I reckon cable is looking to higher. 59 seems to be defended heavily and who else then mighty BOE itself.

I would be gunning for 64 before we go any lower but monthly is telling a diff story. Anyho with greek vote today & tomorrow we could go anywhere. My analysis is simply based on time. It took us almost 43 days to see 700 pip drop, that tells us cable isn't fully bearish yet whereas euro tank'd 1000 pips in less then 2 weeks!
  • #15,558
  • Jun 29, 2011 4:12am Jun 29, 2011 4:12am
Quoting ams
I am not sure what's the trend for today but I reckon cable is looking to higher. 59 seems to be defended heavily and who else then mighty BOE itself.

I would be gunning for 64 before we go any lower but monthly is telling a diff story. Anyho with greek vote today & tomorrow we could go anywhere. My analysis is simply based on time. It took us almost 43 days to see 700 pip drop, that tells us cable isn't fully bearish yet whereas euro tank'd 1000 pips in less then 2 weeks!
Morning my friend... don't u think that still the level to watch is 5976, and basically price is ranging between 5910 and 6010/20?
I don't want a job, i want money!
  • #15,559
  • Jun 29, 2011 4:18am Jun 29, 2011 4:18am
Quoting ams
I am not sure what's the trend for today but I reckon cable is looking to higher. 59 seems to be defended heavily and who else then mighty BOE itself.
You were close. It was a CB - the Bundesbank.

Edit: Sorry. This wouldn't have made much sense. The Bundesbank actually SOLD GBP by buying EURGBP. That was todays morning initial downward impuls. You might be right though that BOE did step in the process to stop GBP dorm dropping.
"Put your shoulder to the wheel!"
  • #15,560
  • Jun 29, 2011 4:19am Jun 29, 2011 4:19am
Quoting dario1002
ok... as it had to be proven... tried to scalp with micro lots. First 2 trades didn't take because of fear/not willing to risk/bad timing and all the reasons i could find. 3rd trade taken and stopped out in no time

u sound like me..it funny but when i trade long term im not affected..its like the fear of being hit quick is something i dont like

i cannot believe it all this talk about adding funds and my broker is like i failed the fraud prevention

jumping through hula hops
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