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Pitbull Trader with Position Building

  • #581
  • Edited 1:13am Jan 26, 2012 1:02am | Edited 1:13am
Quoting courtneywild
Chips

How do you determine which pair to move to BE please?
I notice some of the sales have not been moved to BE some have.
Thanks for a clue.
Banked some swap interest and run up profits this morning...nice.
CW
Courtney, SWAP interest pays

First notice the TREND...What's the market TREND...all BUYS. You are confident the market says BUY...from Pitbull Indi

The pair in greater profit move to BE.. it is moving strong as shown on the bottom line PB screen...i'll wait for daily close, but it's all discretion, there is no hard rules, locking in profit is another option.

For me BE is easier because there are only two outcomes either price close the position at BE or it grows. either way theres NO loss.

BE position are DD control too...

I will stack one additional with the Trend at market open NO stop loss...remember there's one already in profit XXX pips..so if the new entry closes in a loss ...the positive position is risk free and will essentially cancels the -ve close.

Stacking and position sizes very important

it's just the same concept but slower and more pips and more time to do stuff and it's boring, because you are just making sales at day- week end or month end, more like reconciling the books.


newly stack or lower positions in profit are taken off to account for loss and wins...but always have a NET +ve...think profit

Positions at BE grows with the Trend ..reduce DD automatically when price moves

Hope this helps.

I have no intention of confusing new comers but pls if you are new..you have to DEMO THE base concept..think with an open mind
Explore, problem solve, think business read the first part of the thread

This concept has to grown on you for min 1month...DEMO ..on screen and off.

Trust me some of it does make sense at first glance...but truly immerse you self-

It wont be 123...but DEMO and it becomes easier...

The simple stuff is harder for adult with BIAS to grasp...but a kid with free mind can do it easily...
not my words but I share the understanding

I have to pay respect where it is due.

God bless Brijon and his Business management technique or trading the forex
  • #582
  • Jan 26, 2012 10:06am Jan 26, 2012 10:06am
Dont know if it will work, but i just entered UJ buy. Thats according to what samir showed...
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  • #583
  • Jan 27, 2012 3:02am Jan 27, 2012 3:02am
Quoting zhirgal
Dont know if it will work, but i just entered UJ buy. Thats according to what samir showed...
Zhirgal

Just a thought on your post...
The samir is not an indicator we take trades with. Please do ensure you understand the concept of trading the bottom pair (or two) and managing DD.

It could pay you to re read the thread just to enure you understand that no indicators are used to take trades. The samir is only used by a few of us and only as a guide to the market trend and certainly not to take trades off. Just wanted to give you a heads up.

Cheers

CW
  • #584
  • Jan 27, 2012 6:38am Jan 27, 2012 6:38am
My first post on this thread. I've gone through brijon's thread before it was put in the recycle bin. I was really interested in his method but couldn't really understand what he was saying in the forum and though the videos. I understand quite a bit of it but i can't grasp the whole concept of trading it.

Thanks to chips for opening this thread and the positive contribution of everyone . Now it's all clear .

I tested the pitbull method two days with a new demo account and was up around $120+ for the day. I thought it was just luck.

I opened a new basket last night just to test it and left it open. It's night time here during the London-US time overlap and went to bed.

Today before the London open it was up approx $220+. It stayed that way during the open and I closed it and took profit.

I opened a new basket directly after that and left it running through the day. This was around 30 minutes after London open today (330am EST).

About 3 hours later I saw the two bottom indicators in profit and stable. I then traded the bottom 2 pairs (EURUSD & EURGBP). Currently monitoring this pair.

So now I currently have a floating profit of around $60 for all the open trades. Approx 220+ for the closed trades today and 120+ from two days ago.

This is a demo account on fxcm and smallest lot size is 10,000 minilot.
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  • #585
  • Jan 27, 2012 9:25am Jan 27, 2012 9:25am
hi chips, cw, or anybody..

do you know if the loss-profit-loss cycle has somewhat related to the asia-london-ny opening cycle as well?
i just noticed london will put up the price and new york will put it down, then asia and so on.
any idea?

good luck all with your demo.

allan
When the internal struggle ends, everything becomes easy - Mr. Douglas
  • #586
  • Jan 27, 2012 10:07am Jan 27, 2012 10:07am
Quoting m00ds
My first post on this thread. I've gone through brijon's thread before it was put in the recycle bin. I was really interested in his method but couldn't really understand what he was saying in the forum and though the videos. I understand quite a bit of it but i can't grasp the whole concept of trading it.

Thanks to chips for opening this thread and the positive contribution of everyone . Now it's all clear .

I tested the pitbull method two days with a new demo account and was up around $120+ for the day. I thought it was just...
it's nice to see you are making profit,
but correct me anyone if Im wrong,
shouldn't you be trading the bottom pair only?
isn't the other pairs only supposed to act as a indicator on a Demo??
but you seem to have put on all the pairs live?
anyway that is how I understod it from brijons thread.
Bulls are stupid Animals!especially when Im short!
  • #587
  • Jan 27, 2012 10:19am Jan 27, 2012 10:19am
Quoting lananpips
hi chips, cw, or anybody..

do you know if the loss-profit-loss cycle has somewhat related to the asia-london-ny opening cycle as well?
i just noticed london will put up the price and new york will put it down, then asia and so on.
any idea?

good luck all with your demo.

allan
Lananpips....

All down to fundies...
The US seem to push the $ down and the yen up and visa versa. BOJ wants a lower Yen and Bernake more QE and hot printing presses. Trade the basket as you see it, thats what I do...and I dont worry to much about that stuff as long as I control DD.

As its the weekend you might want a laugh here...on QE.
http://omidmalekan.com/?p=187
  • #588
  • Jan 27, 2012 10:33am Jan 27, 2012 10:33am
Quoting roughtrader
it's nice to see you are making profit,
but correct me anyone if Im wrong,
shouldn't you be trading the bottom pair only?
isn't the other pairs only supposed to act as a indicator on a Demo??
but you seem to have put on all the pairs live?
anyway that is how I understod it from brijons thread.
Roughtrader

Yep bottom pair (poss second pair up also).
All pairs at 0.01 for the basket indi.

Cheers.
  • #589
  • Jan 27, 2012 10:50am Jan 27, 2012 10:50am
Quoting chips
I'm holding positions at BE. add a couple postions with the Trend. AUD Tripple SWAP.

See the AUD/USD rises above the weekly open...so we should achieve the weekly target ..hence the monthly uptrend.

but we use buy limit at the LL on AUD.

Brijon mention the intrinsic value of currencies.. lets be patient and get best price for the stock...so resale will be more profitable.

So compounding the postions with the trend ..controls DD and negates the effect of spread charges on lossing postions.
Chips,

How big is your dd when you close those .01 positions? I presumed you replaced them with a fresh .01 indi.

Thans,
Edd
  • #590
  • Jan 27, 2012 11:00am Jan 27, 2012 11:00am
Quoting courtneywild
Lananpips....

All down to fundies...
The US seem to push the $ down and the yen up and visa versa. BOJ wants a lower Yen and Bernake more QE and hot printing presses. Trade the basket as you see it, thats what I do...and I dont worry to much about that stuff as long as I control DD.

As its the weekend you might want a laugh here...on QE.
http://omidmalekan.com/?p=187
cw

very funny video but was right on the money..thanks for the link.

also, thanks for your response to my question.
i will continue to practice and pls continue sharing your experience to this thread.

allan
When the internal struggle ends, everything becomes easy - Mr. Douglas
  • #591
  • Jan 27, 2012 11:47am Jan 27, 2012 11:47am
Quoting lananpips
cw

very funny video but was right on the money..thanks for the link.

also, thanks for your response to my question.
i will continue to practice and pls continue sharing your experience to this thread.

allan
Good laugh for sure.

Ended month +60.29%.. + $3200 which in reality is crazy..
I mean thats 720% pa LOL.
Ok so month two to come.

THANKS to CHIPS he's the master here for sure.

Goodnight all.
  • #592
  • Jan 27, 2012 11:53am Jan 27, 2012 11:53am
Quoting Edd Ganuelas
Chips,

How big is your dd when you close those .01 positions? I presumed you replaced them with a fresh .01 indi.

Thans,
Edd
I haven't close my indicator and it's 1 month now....
I showed that the buys and sells are all postions...and they are treated at such.

I dont have to close..because of the interest in the high paying stocks..it controls the DD too ...

holding Highest profitable positions with the trend also controls DD...too

Trades can be taken with the trend or retracing days..use proper lot size..

it's all relative .there is not wrong or right way...but the basic taking trades on the bottom line...in profit...
  • #593
  • Jan 27, 2012 11:59am Jan 27, 2012 11:59am
Quoting lananpips
hi chips, cw, or anybody..

do you know if the loss-profit-loss cycle has somewhat related to the asia-london-ny opening cycle as well?
i just noticed london will put up the price and new york will put it down, then asia and so on.
any idea?

good luck all with your demo.

allan
Quick note regarding asamir it resets at 0:00 GMT on the broker platform so Oanada resets at Midnight Eastern and FXDD resets at 6:00pm Eastern.
  • #594
  • Edited 12:46pm Jan 27, 2012 12:32pm | Edited 12:46pm
I have been running the PB ind for all of Jan. without closing
most ppl get caught up the indi pairs on live account but you can essentially take a postion in line with the weekly on all 10 pairs..
and let the market cycle...manage DD.
You would be surprised at the outcome.....

I have increase the account to 50% and some...using DD control techniques and still have a +VE DD..

I'm also carrying positions inline with the weekly and taking profits along the way.

Playing tripple swap runup on AUD..etc...

using the bottom pair is the safest way to take profit..But we are using Business concept to trade the forex..not just one single technique..

So think off screen about business concept...

Currently i'm not using DD efficiently....increase balance means I can increase position size. But I'm showing being conservative can also be profitable.

Cheers...
Pls go and see Brijon at stevehopwoodforex.com....

Also I must say thank you to Courtney
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  • #595
  • Jan 27, 2012 12:51pm Jan 27, 2012 12:51pm
Thanks Chips & Courtney! Have a great weekend. Cheers

Marlin
  • #596
  • Jan 27, 2012 1:27pm Jan 27, 2012 1:27pm
Quoting lananpips
hi chips, cw, or anybody..

do you know if the loss-profit-loss cycle has somewhat related to the asia-london-ny opening cycle as well?
i just noticed london will put up the price and new york will put it down, then asia and so on.
any idea?

good luck all with your demo.

allan
Quick note regarding asamir it resets at 0:00 GMT on the broker platform so Oanada resets at Midnight Eastern and FXDD resets at 6:00pm Eastern.
  • #597
  • Jan 27, 2012 1:58pm Jan 27, 2012 1:58pm
Quoting chips
I have been running the PB ind for all of Jan. without closing
most ppl get caught up the indi pairs on live account but you can essentially take a postion in line with the weekly on all 10 pairs..
and let the market cycle...manage DD.
You would be surprised at the outcome.....

I have increase the account to 50% and some...using DD control techniques and still have a +VE DD..

I'm also carrying positions inline with the weekly and taking profits along the way.

Playing tripple swap runup on AUD..etc...

using the bottom pair is the...
chips,

i had one where pair was in profit so i took profit and re-entered and it reversed.
what do you do when you trade the bottom pair and it reversed.
also, when pair is in profit, when do you take profit?
i have impression you dont look at charts doing this.
thanks.

allan
When the internal struggle ends, everything becomes easy - Mr. Douglas
  • #598
  • Jan 27, 2012 1:58pm Jan 27, 2012 1:58pm
Quoting mgs1f
Quick note regarding asamir it resets at 0:00 GMT on the broker platform so Oanada resets at Midnight Eastern and FXDD resets at 6:00pm Eastern.
thanks for that info mgs1f
When the internal struggle ends, everything becomes easy - Mr. Douglas
  • #599
  • Jan 27, 2012 2:03pm Jan 27, 2012 2:03pm
tahnk you Chips and CW, after 10 days I have 16.26 %....

tahnk you for all

Now it is a pleasure to trade.....
  • #600
  • Edited 4:09pm Jan 27, 2012 3:53pm | Edited 4:09pm
Quoting lananpips
chips,

i had one where pair was in profit so i took profit and re-entered and it reversed.
what do you do when you trade the bottom pair and it reversed.
also, when pair is in profit, when do you take profit?
i have impression you dont look at charts doing this.
thanks.

allan
Was the pair the strongest pair when you re-entered ?
what was the momentum of the market?
did you give it ample time to cycle?
did you use proper position size?
Were you witihin the DD Limit you set on your account.?

if you where then you could continue trading...increasing sales growing the bal.
reducing DD and increasing equity using other pairs in profit.

If you use proper size..you could hold on for the cycle to complete...patience.

Taking profit can be subjective there's no set way.
but as a business you have to maintain your sales to DD ratio.
at least 2:1 minimum to stay profitable.

So by observing your DD...decreasing with the Trend it ok to take profit from stock.

Whenever a trade reverse on you dont panic...you can

Trade the pair on the bottom line...contiune making sales..you have a max DD limit to work with...so you can continue to make sales on the strongest stock...its business we are using OPMs..bank draft..line of credit..brokers spread...to grow the account..

or if that one trade goes to far in reverse you can hedge...to freeze the loss...some ppl cancels the trade using a higher +ve postions ..think profit.

There are creative ways..to control that one trade...

Say you continue making sales..that exceed the -ve trade...by increasing the bal...you increase you buying power...right...
so from your bal..you can pay some bills.... call that trade a mistake.

you are not using you own capital at this point...it's the brokers money..you are using to make sales run the operation.

Ask you self..what do you do if mistakenly entered a larger postion of a trade....do you sit or do you close it and continue to make sales using proper money management....

Set you rules...management you business...One bad decision does cause an entire business to fail, its the in-action to remediate that decision that cause the company to collopase

Cheers...think off screen
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