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My trades by Dave

  • #821
  • Mar 29, 2006 6:33pm Mar 29, 2006 6:33pm
Are the Fib studies back up for you?


There are only 2 brokers I have found with 400:1 leverage and the other is MG Financial. I don't like there entry and s/l system.


Let me know if you have any other problems with cms. Mabe it was just a glitch thats fixed now.

Dave
  • #822
  • Mar 29, 2006 6:38pm Mar 29, 2006 6:38pm
currently short 1.2030 s/l 1.2040.....target open


dave
  • #823
  • Mar 29, 2006 6:56pm Mar 29, 2006 6:56pm
heres chart.

If s/l is taken out I will enter short closer to weekly pivot and place a more approrerate s/l.

Dave
Attached Image
  • #824
  • Mar 29, 2006 8:18pm Mar 29, 2006 8:18pm
short 1.2050

s/l 1.2075

target open or 1.2000 dunno yet need break below 1.2023/25 range


Dave
  • #825
  • Mar 29, 2006 8:25pm Mar 29, 2006 8:25pm
Hello Dave
Mine short started at 1.2036 and now is 1.2050 but I hold still. Give it another
hour or so it should calm down.
What do you think?

j.
  • #826
  • Mar 29, 2006 9:30pm Mar 29, 2006 9:30pm
My original target was just hit at 2066. Guess I chickened out. Gotta figure out when to hold 'em.

Lou
  • #827
  • Mar 30, 2006 5:56am Mar 30, 2006 5:56am
Quoting xxDavidxSxx
short 1.2050

s/l 1.2075

target open or 1.2000 dunno yet need break below 1.2023/25 range


Dave
- 25 pips.....But I hedged position at 1.2063 break above weekly pivot. s/l 1.2045


On the 4 hr chart looks like trend could be turning up

target open.

Dave
  • #828
  • Mar 30, 2006 5:57am Mar 30, 2006 5:57am
Quoting Lou
My original target was just hit at 2066. Guess I chickened out. Gotta figure out when to hold 'em.

Lou

I chickened too and would have won. O'well hopfully 1.2200 will be a target for current open position.

Dave
  • #829
  • Mar 30, 2006 6:55am Mar 30, 2006 6:55am
I have a standing long at 2130. Price has faltered reversed at 2100 which is 62% retracement off of high around March 20 also is BWILC grid line from weeks ago. Stoch is just hitting overbought. Reversal then move back up would be a good buying opportunity. But I would have to watch and I cant do it today. No trade .

Lou
  • #830
  • Mar 30, 2006 11:58am Mar 30, 2006 11:58am
Quoting xxDavidxSxx
- 25 pips.....But I hedged position at 1.2063 break above weekly pivot. s/l 1.2045


On the 4 hr chart looks like trend could be turning up

target open.

Dave
I didn't realize I had a limmit trade was pulled at 1.2140.

+77 pips

I wanted it to run and just trail the s/l.

I will reenter long position near the new daily pivot. We got a good sustained break above the weekly pivot and the first target line was reached.

I am trading 2 accounts and one has the same position running. The second one is with MG financial. And I don't even like them. I started them with 5k accounts to see if I can heavly leverage them and double the account in a small amount of time. So far so good. I can double 5k in just 1-2 days and tripple it in 3-4.
I have an invester waching my demo's. So far I have doubled a 5k demo and trippled a 8k demo. He is ready to invest just waiting on the funds. Apon successfully doubleing the account I get 50% and he sends me more investers.
I am excited.

Alot of those trades will be ones I post. Like the last. I found is when getting wipsawed its best to enter position and hedge it. Place s/l each side of the range. When range is broke s/l is taken and remaining trade goes on to profit.


Dave
  • #831
  • Mar 30, 2006 5:17pm Mar 30, 2006 5:17pm
My entry order hit at 2130. I closed at 2163 for +33 17:54 EST.

close due to price hitting 150% expansion (euro seems to like 50% and 150%) of swing low of Mar 28 and 161 expansion of next swing low on Mar 29. Also price was approaching but leveling off before the DiNapoli XOP at 2180 which is the same price level as the 161 expansion -- I like confluence . On the hourly.

Also slight turn down of oscillators plus negative divergence on Woodies CCI on the half hour chart.

Lou
  • #832
  • Mar 30, 2006 5:35pm Mar 30, 2006 5:35pm
MG financial....Holding 5 lots on the long entered at 1.2064. Moving s/l to 1.2105

Current winnings on MG is 4700 5k accnt

Winnings this morn on CMS was 7600 8k accnt



Entry order CMS 10 lots ....new days pivot is 1.2120

Entry 1.2033

s/l 1.2103


target open.


I belive the key to using high leverage is when you see yourself getting wipsawed around to hedge position as described above.

So far I have been able to tripple an 8k account in 3 days and with only 40% accuracy on trades.

Dave
  • #833
  • Edited 8:21pm Mar 30, 2006 8:13pm | Edited 8:21pm
Closing all positions for the week.

I just printed my account reports. Both accounts are doubled so Next week I'll start again with 5k. I want to double a 5k account each week consistantly.


On MG account I had a 65% win/loss trading 5 lots per trade. 9 trades
The first trade entered I lost half the account on 10 lot trade. The rest where 5 lots.

On CMS account I had only 34% win/loss trading 10 lots per trade. 26 trades


I over traded CMS I think thats what lowered my % in half

Low risk = low gain
High risk = high gain

Max draw down on both was about 50% I don't if thats good bad or what.


Its all about money management. Done right you can make alot even if you start with a little.
I (try) to take profits 2x the ammount of my average s/l. And leave target open, I believe having a target missed by 1-2 pips is sickening. And be willing to pull out at 1x s/l amount if price stalls. And if the trade starts into losses hedge it and place s/l outside range. Leave targets open and when the price decides on a direction your in nomatter what.

Dave
  • #834
  • Mar 30, 2006 9:31pm Mar 30, 2006 9:31pm
Hi,
I was wondering if you can answer the questions below:

1) Are you using more than 1 broker where you might buy long and sell short at the same time with the same currenty pair? For example: Buy long EUR/USD with broker A and sell short on EUR/USD with broker B. Or do you use different currency pairs with the same broker to hedge against each other? For example: Short EUR/GBP and at the same time long GBP/CHF?

2) At what point in your loss to you enter into a hedge? Do you wait for a loss at 10 pips, 20 pips, or do you enter the second it goes into a loss (like at 1 pip)

Thanks!


Quoting xxDavidxSxx
Closing all positions for the week.

I just printed my account reports. Both accounts are doubled so Next week I'll start again with 5k. I want to double a 5k account each week consistantly.


On MG account I had a 65% win/loss trading 5 lots per trade. 9 trades
The first trade entered I lost half the account on 10 lot trade. The rest where 5 lots.

On CMS account I had only 34% win/loss trading 10 lots per trade. 26 trades


I over traded CMS I think thats what lowered my % in half

Low risk = low gain
High risk = high gain

Max draw down on both was about 50% I don't if thats good bad or what.


Its all about money management. Done right you can make alot even if you start with a little.
I (try) to take profits 2x the ammount of my average s/l. And leave target open, I believe having a target missed by 1-2 pips is sickening. And be willing to pull out at 1x s/l amount if price stalls. And if the trade starts into losses hedge it and place s/l outside range. Leave targets open and when the price decides on a direction your in nomatter what.

Dave
  • #835
  • Mar 30, 2006 9:38pm Mar 30, 2006 9:38pm
I have been asked about hedging. Here is an entry for a hedged trade.

Buy/Sell(enter 2 seperate if need be) 1.2130


s/l's 1.2090/1.2170(40 pips both sides of entry.)

Here's chart...

Dave

This is the first time I have set a hedged entry and purely an experiment.
I usually only hedge when I am waching. And am very new at hedging too.

On this chart the one thing I am pretty sure of is the price will retrace.
A short as close to 1.2175 as possible is recomended. Target 1.2130

I am going to set limmits 20 pips further from s/l's.

Again this one is just for fun.
Attached Image
  • #836
  • Mar 30, 2006 9:46pm Mar 30, 2006 9:46pm
Quoting hugobossv8
Hi,
I was wondering if you can answer the questions below:

1) Are you using more than 1 broker where you might buy long and sell short at the same time with the same currenty pair? For example: Buy long EUR/USD with broker A and sell short on EUR/USD with broker B. Or do you use different currency pairs with the same broker to hedge against each other? For example: Short EUR/GBP and at the same time long GBP/CHF?

2) At what point in your loss to you enter into a hedge? Do you wait for a loss at 10 pips, 20 pips, or do you enter the second it goes into a loss (like at 1 pip)

Thanks!
(some brokers allow you to hedge trade in the same order. CMS is one.) FXCM don't support hedging. MG financial cann't hedge either but not sure of the rest.
You could use 2 accounts with the same broker and enter opposite orders on each.
(I am using CMS) and MG because there the only 2 that allow 400:1 leverage. Only been testing MG 5 days and hate it. I am testing COESfx next. I dunno what there leverage is, I cann't find it on there site.
My live account is FXCM but looking for a new broker.

( ) Did this answer your question?

Dave
  • #837
  • Mar 30, 2006 10:11pm Mar 30, 2006 10:11pm
Thanks! Since the Eur/Usd has already hit the 1.2176 level once today, is it too late to get in short on this trade? Or are you thinking it will retrace back up to 1.2175 before it heads down again?




Quoting xxDavidxSxx
I have been asked about hedging. Here is an entry for a hedged trade.

Buy/Sell(enter 2 seperate if need be) 1.2130


s/l's 1.2090/1.2170(40 pips both sides of entry.)

Here's chart...

Dave

This is the first time I have set a hedged entry and purely an experiment.
I usually only hedge when I am waching. And am very new at hedging too.

On this chart the one thing I am pretty sure of is the price will retrace.
A short as close to 1.2175 as possible is recomended. Target 1.2130

I am going to set limmits 20 pips further from s/l's.

Again this one is just for fun.
  • #838
  • Mar 30, 2006 10:17pm Mar 30, 2006 10:17pm
Quoting hugobossv8
Thanks! Since the Eur/Usd has already hit the 1.2176 level once today, is it too late to get in short on this trade? Or are you thinking it will retrace back up to 1.2175 before it heads down again?
1.2160 is still good s/l 1.2178

I am in that one
  • #839
  • Mar 30, 2006 10:18pm Mar 30, 2006 10:18pm
Quoting xxDavidxSxx
1.2160 is still good s/l 1.2178

I am in that one
looks readyto fall now

Dave
  • #840
  • Mar 30, 2006 10:23pm Mar 30, 2006 10:23pm
Quoting xxDavidxSxx
(some brokers allow you to hedge trade in the same order. CMS is one.) FXCM don't support hedging. MG financial cann't hedge either but not sure of the rest.

You could use 2 accounts with the same broker and enter opposite orders on each.
(I am using CMS) and MG because there the only 2 that allow 400:1 leverage. Only been testing MG 5 days and hate it. I am testing COESfx next. I dunno what there leverage is, I cann't find it on there site.
My live account is FXCM but looking for a new broker.

( ) Did this answer your question?

Dave
Yep, this answered my question. I've been trading with COESFx for several months now, I really like them a lot. I started with a $5000 account. The leverage they gave me to start with on this account was 50:1. I requested 100:1 leverage and they provided it to me with a requirement that you must be closed out of all positions at the end of trading on Friday with the 100:1 leverage. They do not offer anything higher than 100:1 leverage.
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