I believe youd feel more comfortable trading once-twice a week...
Thanks for the concern kid, definite merit to some of your points, I can't speak for everyone else but I'm OK trading the way that suits me
Make Money Everyday - A Guide to Short-Term Trading
- #741
- Sep 19, 2011 11:02am Sep 19, 2011 11:02am
Thanks for the concern kid, definite merit to some of your points, I can't speak for everyone else but I'm OK trading the way that suits me
- #742
- Sep 19, 2011 11:16am Sep 19, 2011 11:16am
- Joined Aug 2011 | Status: Trader | 10,724 Posts
Thanks for the concern kid, definite merit to some of your points, I can't speak for everyone else but I'm OK trading the way that suits me
Hey, good luck to your method. I have read some of your trades, and they look very decent!
Take care
Have I got something on my face, SOLDIER?
- #744
- Sep 19, 2011 11:26am Sep 19, 2011 11:26am
Thats good. Im a day trader myself. But i try to define best entry points, and minimize loss. I want to be a swing trader as i progress as a day trader.
Hey, good luck to your method. I have read some of your trades, and they look very decent!
Take care
Hope you create all the prosperity you can muster!
Remember there many roads to Rome.
- #745
- Sep 19, 2011 11:36am Sep 19, 2011 11:36am
While our president is speaking, let me point out that if anyone (other than me) is using 1-2-3 breaks to enter trades, know that they are very unreliable in timeframes lower than 5 minutes. I use them on the 5 minute and when they line up with quarter levels - they are great momentum boosts - especially for scalping.
I would just like to point out that the worlds most successful independent trader is a day-trading, scalping fool!
http://www.trading-naked.com/library...er-monthly.pdf
You can make money scalping, swing or trend trading - just choose your weapon and master it.
- #748
- Sep 19, 2011 8:54pm Sep 19, 2011 8:54pm
- Joined Aug 2011 | Status: Trader | 10,724 Posts
Nice article. I have that one saved also. So glad the kid dropped by to give us all a lesson in math.
Anyways.. any setups recently?
Have I got something on my face, SOLDIER?
- #749
- Sep 19, 2011 9:11pm Sep 19, 2011 9:11pm
lolz. the math was simple. im not even sure that that is correct...
Anyways.. any setups recently?
In every aspect of life this applies, the respect of others is earned by being humble and open to the differences in approach that every person has, and what they have to offer.
Thinking you know what's best for others and attempting to 'save' them isn't the way to go. Especially at the ripe age of 14
Setups every day matey, but no trading for me until London Open. Off to get my hair cut now, looking a bit like fabio lately
Hope you have a great day.
- #750
- Sep 19, 2011 10:16pm Sep 19, 2011 10:16pm
lolz. the math was simple. im not even sure that that is correct...
Anyways.. any setups recently?
Mongolian
- #751
- Sep 20, 2011 5:53am Sep 20, 2011 5:53am
Price playing nice again tonight.. Maybe there'll be another trade off of 1.3700 but I'm not gonna be greedy, will call it for now. Be back at NY for a few hours.
Feel like perhaps it's not hip to talk figures but 17% last night and 17% again tonight so far.. may end up bit more or less depending how NY goes.
Risking 2% a trade, SL 6 or 4 for those last 3 trades.
More than makes up for the couple of doozies I had second week of this month.
If I can learn from those nights and not repeat them when PA is less than ideal, I should be on my way
Feel like perhaps it's not hip to talk figures but 17% last night and 17% again tonight so far.. may end up bit more or less depending how NY goes.
Risking 2% a trade, SL 6 or 4 for those last 3 trades.
More than makes up for the couple of doozies I had second week of this month.
If I can learn from those nights and not repeat them when PA is less than ideal, I should be on my way
- #752
- Sep 20, 2011 9:38am Sep 20, 2011 9:38am
Few trades in NY, could have taken a bit more from this but can't complain.
-Trades that were +6 were from taking 1/2 pos off at mid point then being stopped at BE on the remaining pos.
-Missed great trade at blue arrow.. reminder to be nimble.
Took a long at 1.3675 as typing this, took partial profit +10. Moved stop to BE, with either end up with +5 or +17 depending whether price gets to the figure. (EDIT - moved stop on last half to +12)
Either way that's it for me, time to walk the dog and organise the never ending saga of finding a broker with charts that do what I want. In the meantime still placing orders through MT4.. joy.
Hope everyone is trading well!
Read something on FF the other day that I liked..
The goal should not be to make as much money as you can, but to be the absolute best trader you can be. The money will take care of itself.
I dig that.. may not be exactly how it went and perhaps it was already stolen. But still I like.
-Trades that were +6 were from taking 1/2 pos off at mid point then being stopped at BE on the remaining pos.
-Missed great trade at blue arrow.. reminder to be nimble.
Took a long at 1.3675 as typing this, took partial profit +10. Moved stop to BE, with either end up with +5 or +17 depending whether price gets to the figure. (EDIT - moved stop on last half to +12)
Either way that's it for me, time to walk the dog and organise the never ending saga of finding a broker with charts that do what I want. In the meantime still placing orders through MT4.. joy.
Hope everyone is trading well!
Read something on FF the other day that I liked..
The goal should not be to make as much money as you can, but to be the absolute best trader you can be. The money will take care of itself.
I dig that.. may not be exactly how it went and perhaps it was already stolen. But still I like.
- #753
- Sep 20, 2011 10:10am Sep 20, 2011 10:10am
Few trades in NY, could have taken a bit more from this but can't complain.
-Trades that were +6 were from taking 1/2 pos off at mid point then being stopped at BE on the remaining pos.
-Missed great trade at blue arrow.. reminder to be nimble.
Took a long at 1.3675 as typing this, took partial profit +10. Moved stop to BE, with either end up with +5 or +17 depending whether price gets to the figure. (EDIT - moved stop on last half to +12)
Either way that's it for me, time to walk the dog and organise the never ending saga of finding a...
- #754
- Sep 20, 2011 10:24am Sep 20, 2011 10:24am
I like it as well. Kind of goes with what I started to talk about @ beginning of month - Be Excellent. The results will follow.
OK I need to have some time off this lappy, might not be here for London as rehearsing tomorrow. Trade well!
- #755
- Sep 20, 2011 2:43pm Sep 20, 2011 2:43pm
Late (extremely late) Oil trade. NIce 1-2-3 break right at 87.00.
I did take the previous one short at 50 - and lost, i should have known better. Only 2 trades, 1 loser and 1 winner, but MM keeps me in the green.
note: this is a 13 pip range bar chart in case anyone is interested.
I did take the previous one short at 50 - and lost, i should have known better. Only 2 trades, 1 loser and 1 winner, but MM keeps me in the green.
note: this is a 13 pip range bar chart in case anyone is interested.
- #756
- Sep 20, 2011 2:53pm Sep 20, 2011 2:53pm
Don't know why I didn't see these earlier (I need to focus) but there were 5 trades using 1-2-3 break and quarter levels in oil today (NY session only).
2 would have been losers (unless you manually closed or had a smaller TP than I use) for -25 pips (12 pips risk on each) - and 3 would have been winners with a minimum of 25 pips each (75 pips total).
Do the math. Quarters work.
2 would have been losers (unless you manually closed or had a smaller TP than I use) for -25 pips (12 pips risk on each) - and 3 would have been winners with a minimum of 25 pips each (75 pips total).
Do the math. Quarters work.
Don't know why I didn't see these earlier (I need to focus) but there were 5 trades using 1-2-3 break and quarter levels in oil today (NY session only).
2 would have been losers (unless you manually closed or had a smaller TP than I use) for -25 pips (12 pips risk on each) - and 3 would have been winners with a minimum of 25 pips each (75 pips total).
Do the math. Quarters work.
Attachment
- #758
- Sep 20, 2011 9:04pm Sep 20, 2011 9:04pm
Late (extremely late) Oil trade. NIce 1-2-3 break right at 87.00.
Attachment
I did take the previous one short at 50 - and lost, i should have known better. Only 2 trades, 1 loser and 1 winner, but MM keeps me in the green.
note: this is a 13 pip range bar chart in case anyone is interested.
I'm yet to draw the lines up on oil yet, been too preoccupied, will do it this weekend.
BBBBBBBBBBUUUHHHAAAAAAAAAAAAAAAHAAAAAAAAAAAAAHAAAAAAAAAAA!!! Math. Go figure. It's everywhere.
- #759
- Sep 20, 2011 9:09pm Sep 20, 2011 9:09pm
Do the math. Quarters work.
If I wanted to live by other peoples limitations I would get a cushy office job for f*$# sake