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  • #572,841
  • Dec 9, 2011 2:59pm Dec 9, 2011 2:59pm
Scalping SL 10 TP 10 required a 13pip move to hit the TP and only 7pip move to reach the SL, based on random entry which is more likely to be hit ??

Yep SL, you need nearly twice the move up as down for the same money, so which gives you a 75% lose rate which is bad odds stacked against you to start with.

I scalped for years, 3000 trades and down $1500 so basically I lose 50cents average per trade, where average spread was likely $2.80, remove the spread and I'd be 3000 * 2.3 = +$6900 without upping the lot sizes ( not 100% sure on the number, I did work it out before closing the Mini account for Micro )

Basically the spread is small, but if your scalping then it's HUGE!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #572,842
  • Dec 9, 2011 2:59pm Dec 9, 2011 2:59pm
Quoting Yuchen
I think he was trying to ask if there was a way to "constantly earn net 20 pips everyday". it is really hard and almost impossible. If some can really do that, assume one has 1000 dollars, trade 0.1 lot, with 20 pips is 20 dollars, in terms of percentage is 2%. After at most 3 months, he would have 2000 dollars, then he increase it to 0.2 lot, and then after another 3 months, he would have 4000 dollars... so theoretically, he can double his account by every months if he can gaurantee to earn net 20 pips everyday....
i had such a system for 3 months, back tested for 10 years with consistent results... i stopped working in a safe way after the recession in 2008

max drawdown was 400, average pips per month 400... consistently
When life gives you lemons, make lemonade
  • #572,843
  • Dec 9, 2011 3:00pm Dec 9, 2011 3:00pm
Quoting AaronWard
Yuchen,

I have read your signature line about 20 times now, but I just don't get it. Any chance you could explain?

I think it's Chavball references ( Football or Socker ) means nothing to me to, have the game, it's a game for Chav's. ( Chav's = SCUM basically )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #572,844
  • Dec 9, 2011 3:02pm Dec 9, 2011 3:02pm
it takes a person with special talent to scalp successfully for long term...but they are out there. I think swing trading is better long term.
  • #572,845
  • Dec 9, 2011 3:05pm Dec 9, 2011 3:05pm
Quoting mxb
it takes a person with special talent to scalp successfully for long term...but they are out there. I think swing trading is better long term.

Yeah I've had good runs then poor runs, 100% confidence rarely lose, few losses confidence drops and confidence soon drops to Zero, then 2nd guessing trades, hesitating, not exiting when I should and account death.

Then there is the time spent infront of the screen and trying not to trade in slow / bad markets when boredom takes over.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #572,846
  • Dec 9, 2011 3:08pm Dec 9, 2011 3:08pm
Quoting AaronWard
Yuchen,

I have read your signature line about 20 times now, but I just don't get it. Any chance you could explain?
I want a glass of H2O= I want a glass of water
fatpand wants a glass of H2O, too = he wants a glass of H2O2 (hydrogen peroxide), make sure dont drink that.

by the way, do you know fatpanda graduated from Harvard University with a bachelor of science in chemistry degree?
  • #572,847
  • Dec 9, 2011 3:14pm Dec 9, 2011 3:14pm
Here is my progress this week scalping sorta on my first live account I ever made. Obviously I have been trading a few years, so I have racked up many hours of staring at graphs/bars time.

So here is my proof of a weeks scalping I do which isn't my usual style. I swing trade alot on another account.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Dec. 09 13.05.jpg Size: 166 KB


I closed out my trades because its the end of the week. Have a good weekend and try not to have to much fun without me
  • #572,848
  • Dec 9, 2011 3:19pm Dec 9, 2011 3:19pm
Quoting micho
i had such a system for 3 months, back tested for 10 years with consistent results... i stopped working in a safe way after the recession in 2008

max drawdown was 400, average pips per month 400... consistently
that means it takes a trader 2.5 months to make the money from 1000 dollars to 2000 dollars and 1 mistake to lose them back to 1200 dollars?

Pele is good, Maradnona is better and George is best.
  • #572,849
  • Dec 9, 2011 3:20pm Dec 9, 2011 3:20pm
Quoting Yuchen
I want a glass of H2O= I want a glass of water
fatpand wants a glass of H2O, too = he wants a glass of H2O2 (hydrogen peroxide), make sure dont drink that.

by the way, do you know fatpanda graduated from Harvard University with a bachelor of science in chemistry degree?

I just finished watching Zack and the Alien Invaders
  • #572,850
  • Dec 9, 2011 3:20pm Dec 9, 2011 3:20pm
Quoting Yuchen
I want a glass of H2O= I want a glass of water
fatpand wants a glass of H2O, too = he wants a glass of H2O2 (hydrogen peroxide), make sure dont drink that.

by the way, do you know fatpanda graduated from Harvard University with a bachelor of science in chemistry degree?
Ah, I get it and now I do.
Kill the ego, or it will kill the mission.
  • #572,851
  • Dec 9, 2011 3:22pm Dec 9, 2011 3:22pm
What will the market most likely be doing for the rest of the year? Downtrend, uptrend, or a range?
  • #572,852
  • Dec 9, 2011 3:30pm Dec 9, 2011 3:30pm
Quoting kibescorp
I just finished watching Zack and the Alien Invaders
I used to be a libray computer lab monitor back to my undergraduate time and i download the Nintendo Ninja Turtles game to play it. There were so many kids asked me the website to download game.. It was a nice time that you can earn money when you played game, especially you are not using your own computer to play game so you dont need to worried about damage your keyboard.
  • #572,853
  • Dec 9, 2011 3:30pm Dec 9, 2011 3:30pm
Quoting Yuchen
I want a glass of H2O= I want a glass of water
fatpand wants a glass of H2O, too = he wants a glass of H2O2 (hydrogen peroxide), make sure dont drink that.
Omg lol. I just love these nerd jokes. Thats a nice one.

T
"I know one thing, that I know nothing." Sokrates
  • #572,854
  • Dec 9, 2011 3:32pm Dec 9, 2011 3:32pm
Quoting kibescorp
What will the market most likely be doing for the rest of the year? Downtrend, uptrend, or a range?
i draw 3 circles on a piece of paper with downtrend, uptrend, range and then i flip a coin it dropped on the circle named range.
  • #572,855
  • Dec 9, 2011 3:35pm Dec 9, 2011 3:35pm
Quoting Yuchen
that means it takes a trader 2.5 months to make the money from 1000 dollars to 2000 dollars and 1 mistake to lose them back to 1200 dollars?

Pele is good, Maradnona is better and George is best.
no it means for an account of 1000$, you can make 400 pips per month consistently on average. next month you will be at 1400$, 40% of 1400$... and so on... maximum drawdown is -400 pips but monthly average is +400 pips
so drawdown of around -300 can happen once per year or so... and its not gonna harm you much because in 1 month you will get your loss back
When life gives you lemons, make lemonade
  • #572,856
  • Dec 9, 2011 3:41pm Dec 9, 2011 3:41pm
Quoting Yuchen
i draw 3 circles on a piece of paper with downtrend, uptrend, range and then i flip a coin it dropped on the circle named range.
Get a goldfish bowl, if the fish swim left :BUY if it swims right :SELL, if it floats to the top :get new fish...
  • #572,857
  • Dec 9, 2011 3:46pm Dec 9, 2011 3:46pm
Quoting Tom_D_Trader
Omg lol. I just love these nerd jokes. Thats a nice one.

T
Yuchen wanted to become a batman, Tom wanted to become a spiderman and fatpanda wanted to become a superman. One day, Chicky told them, open a trade of EU with no s/l and no t/p, then open the account the next day, look at the account equity and say a word then they could become what they said.

Yuchen, Tom and Panda were all given a 1000 dollars account, Cloggie told them EU would drop 200 pips at the end of the day so all of them shorted EU. Yuchen and Tom shorted 0.05 lots and Panda shorted 0.5 lots. They closed their computer and went to sleep. EU went 200 pips up aggressively and then dropped 400 pips later, which was 200 pips drops at the end of the day so both Yuchen and Tom had 100 dollars floating profits and Panda got margin call and lose his account.

They woke up the next day and opened their accounts.
Yuchen was happy and he said: "batman" so he became batman
Tom was also happy and he said: "superman" so he becomes superman
Panda was so surprised that instead of double his account, he lost all his money and he said: "oh, shit"

No offense but just want to reminder traders dont trade high leverage
  • #572,858
  • Dec 9, 2011 3:54pm Dec 9, 2011 3:54pm
Quoting Yuchen
Yuchen wanted to become a batman, Tom wanted to become a spiderman and fatpanda wanted to become a superman. One day, Chicky told them, open a trade of EU with no s/l and no t/p, then open the account the next day, look at the account equity and say a word then they could become what they said.

Yuchen, Tom and Panda were all given a 1000 dollars account, Cloggie told them EU would drop 200 pips at the end of the day so all of them shorted EU. Yuchen and Tom shorted 0.05 lots and Panda shorted 0.5 lots. They closed their computer and went to sleep....
When life gives you lemons, make lemonade
  • #572,859
  • Dec 9, 2011 3:58pm Dec 9, 2011 3:58pm
Quoting Mr. Freeweed
Here is my progress this week scalping sorta on my first live account I ever made. Obviously I have been trading a few years, so I have racked up many hours of staring at graphs/bars time.

So here is my proof of a weeks scalping I do which isn't my usual style. I swing trade alot on another account.

Attachment
Attachment

I closed out my trades because its the end of the week. Have a good weekend and try not to have to much fun without me
not half bad going
  • #572,860
  • Dec 9, 2011 4:01pm Dec 9, 2011 4:01pm
Quoting cloggie
I haven't scalped a whole heck of a lot this week, mostly just news trading when it lines up with the techs. Had some good runners with very little risk this week. Well worth trading the offseason for.
I just noticed this quote. which is exactly my point. in my opinion the news for you that week was an indiactor & the news followed the tech as well as those that percived the same opertunity as you (retail investers) & the big boys (major corrperations). we (retail investers) dont make up most of the market. news is aimed at retail investers as you know the big boys make & move markets. how are they going to get the orders filled when the whole planet wants to adapt a new term called shorting. "start an advertising campain they will always fall for it, just look at the patterns on the chart" anyway im staying away from this machine till sunday morning. have a good 1
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