Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Rags to Riches in 10 or 20 Trades - Simplicity at its finest 2,780 replies

rags to more rags.. and even more rags! 19 replies

Rags to rags and ice cream 36 replies

Rags to Riches 18 replies

Rags To Riches Take 2 24 replies

Attachments: Rags To Riches
Exit Attachments

Rags To Riches

thanks for the fast response, i wish continued success....
Ok thanks Lt, Iwas not sure where you got A & D from thought it was just based on the previous days high and low, I have worked out C & D.

Good Luck, will continue to follow

Making money is easy,losing money is easier
Quoting brownturtle
Outstanding work , i have always believed that indicators are not necessary. The big players that move the market, ie banks, hedge funds etc, do not look at macd, rsi, stochastic etc
Can i assume that your ABCD are proprietary?

NO indicators are required..

Well, perhaps the odd pivot point here and there might be.....
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
Hello Line-Trader,

I just wanted to say thanks for deciding to share your method. I'm sure all the help that you will give others will come back around to you again and again.

I love the simplicity of your method. I'm going to trade your method and see how it goes for me. I'm going to start small and just trade the E/U pair. After I get a feeling for the method, I will then slowly add other pairs bit by bit.

Once again, thanks for sharing and being so kind.
Quoting LuckyLefty
Hello Line-Trader,

I just wanted to say thanks for deciding to share your method. I'm sure all the help that you will give others will come back around to you again and again.

I love the simplicity of your method. I'm going to trade your method and see how it goes for me. I'm going to start small and just trade the E/U pair. After I get a feeling for the method, I will then slowly add other pairs bit by bit.

Once again, thanks for sharing and being so kind.

Slowly slowly is the best way.... Eventually you'll get into a routine with it.

It can get quite mind blowing at times, especially when 3 or 4 trades happen at once.
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
I agree with you. Slow is the way to go. It's a marathon, not a sprint and I know that.

Your suggestion about using pending orders on lines A and D is great. I have those already set up so I just have to watch for the trades from B and C.

I do have a quick question. In a few post back you said you lowered your risk to 0.50% because the lines were close together. How close must the lines be before you consider dropping your risk?

Another thing we have in common is that we think in terms of % and not $. I translate everything in % also as that's all it's about anyway...pips mean nothing.

Quoting Line-Trader
Slowly slowly is the best way.... Eventually you'll get into a routine with it.

It can get quite mind blowing at times, especially when 3 or 4 trades happen at once.
  • Post #47
  • Quote
  • Edited at 4:52am Jan 12, 2012 4:39am | Edited at 4:52am
Hi there Line Trader,

So that I have it clear in my head by example...

S&P...line D...1287.1...needs to hit and close 2 points below 1287.1

If it closes 1285.1 or less SELL ...cover 1283.1 or less ( 2 point profit)

Stop equals C + 2 points...C is 1290.2 add 2 points =1292.2...therefore stop is 1292.2

Do I have this right? I don't think I have,hence the question as I understood R:R is 1:1

Can you please straighten me out.

Edit: can see my own answer: Profit goal should be R;R...therefore should 1285.1 less 7 points = 1287.1.

Is that correct?
Quoting Fair Dinkum
Hi there Line Trader,

So that I have it clear in my head by example...

S&P...line D...1287.1...needs to hit and close 2 points below 1287.1

If it closes 1285.1 or less SELL ...cover 1283.1 or less ( 2 point profit)

Stop equals C + 2 points...C is 1290.2 add 2 points =1292.2...therefore stop is 1292.2

Do I have this right? I don't think I have,hence the question as I understood R:R is 1:1

Can you please straighten me out.


With the line A & D trades (Break out) you can just set pending orders (buy stop & sell stop)

Stoploss will be 2 points below / above line B / C

Takeprofit is 1:1

Ref your figures above:-

S&P line D level today is 1287.3 (Entry would be 1287.1)

Stoploss would be 1290.4

Hope this helps
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
Thank you.

I now realize what you mean by "points".

Being that I trade futures I took it to mean 2 full points,whereas you are referring to spread points.

Yes , that will clear it up, I hope
Hi LIne Trader,
Just sat passively as your AUD/USD trade worked a treat. Didn't trade it though, just watched for now, thanks again....hmmm nowt o work out those levels ...hee hee
Quoting brownturtle
Hi LIne Trader,
Just sat passively as your AUD/USD trade worked a treat. Didn't trade it though, just watched for now, thanks again....hmmm nowt o work out those levels ...hee hee
Hi Brownturtle,

It's a level day so far today for A/U...... +1 for the buy and -1 for the sell from earlier
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
On more Question, if i may, Have you ever encountered the situation, where the same trade has the opportunity to be traded twice, and if so, is it one trade per day scenario?
Quoting brownturtle
On more Question, if i may, Have you ever encountered the situation, where the same trade has the opportunity to be traded twice, and if so, is it one trade per day scenario?

Re entry of the same trade is quite common...
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
Quoting Line-Trader
Hi Brownturtle,

It's a level day so far today for A/U...... +1 for the buy and -1 for the sell from earlier
Hi LT,

Would you be kind enough to post a chart of the day's activity for A/U. I will then have your method "nutted".

Thank you.
Quoting Fair Dinkum
Hi LT,

Would you be kind enough to post a chart of the day's activity for A/U. I will then have your method "nutted".

Thank you.

There you go..
Attached Image (click to enlarge)
Click to Enlarge Name: AU 12 Jan.jpg Size: 99 KB
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
Quoting LuckyLefty
I agree with you. Slow is the way to go. It's a marathon, not a sprint and I know that.

Your suggestion about using pending orders on lines A and D is great. I have those already set up so I just have to watch for the trades from B and C.

I do have a quick question. In a few post back you said you lowered your risk to 0.50% because the lines were close together. How close must the lines be before you consider dropping your risk?

Another thing we have in common is that we think in terms of % and not $. I translate everything in...

Usually the SL levels are 20+ points.

Yesterday though some were as low 14.
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
Quoting Line-Trader
There you go..
Thank you.

I have also come to the realization that even the S&P spread along with the currencies are a lot different to futures;unless there is a conversion factor,and I bet there isn't.
Well, a day not for the feint hearted, to say the least.

Here's todays results:-

DOW +1 +1 +1 -1 +1
FTSE +1 -1 +1
S&P +1 -1 +1 +1 B/E

E/U -1 +1
G/U No trades
A/U -1 +1 -1 +1
U/CAD -1 -1 +1
U/CHF -1 -1 -1 +1
E/J -1 B/E


Todays total +2%

Will post some charts later
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
Quoting Line-Trader
Well, a day not for the feint hearted, to say the least.

Here's todays results:-

DOW +1 +1 +1 -1 +1
FTSE +1 -1 +1
S&P +1 -1 +1 +1 B/E

E/U -1 +1
[size=3][font=Comic Sans MS][color=blue]G/U...
Hi L T

Another + day!
The B/E once, do you move you S/L to B/E if the stop is to big or are you closing them at 4:00 pm.

Thanks
Quoting Yonas
Hi L T

Another + day!
The B/E once, do you move you S/L to B/E if the stop is to big or are you closing them at 4:00 pm.

Thanks

The B/E trades were closed at 4:00pm
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
0 traders viewing now