Pitbull Trader with Position Building

Thanks Edd for your questions.
firstly, I dont close my indicator postions...because for me they are actual growth positions in the market. They keep telling me that the market going my way since I entered or its moving the opposite way.

I have no set time for my trading..sometimes I sit an trade when there is time and sometimes I just enter a position at daily open on a position that is in profit or counter on a postion that is in loss..depending on my DD bal in the profit column using proper position size.

I have shown how I have entered and exit the Trades while controlling DD.

1. in the Base system there is no S/R.
2. In the base system There is no spacing...only min pips is profit suggest 12 pips profit take it, we are thinking Profit oriented.
3. In the base system trade the bottom pair in profit.
4. In the base system use patience to grow the account. proper postion size.
5. in the base system, Stop trading for Loss Profit Loss.
6. In the base system, what do you do when mistake happens...we all make mistakes.
7. In the base system..There is no Pin point entry..or setups or breakout
8. in the base system...Follow the trend...volatile market..
9..in the base system..Think profit..
10. In the base system...you decide your time of operation..but trading in times when market is busy is good.

Second..When building positions...with the Trend for longterm Trading and controlling DD..

I have shown..that with proper position size..one can just stack on to position that is in profit or Loss..at the start of the market open..Compounding with the Trend.

I have shown that you can manage your positions base on daily close.

"IT start where it ends and IT ends where it starts" Think..
Just tak a look at where the market starts and where it ends...it's the same spot. Every day the closing price is the opening price...

So if its up BUY and if is DOWN SELL...But the indicator shows you right away if its a BUY OR if is a SELL...


Why ask for a journal..
There is no wrong or right way..you have to do it to see it..
We will all trade differently...as long as you are growing your account..that's the main goal..

If you review my journal..you haven't learn anything...you will only learn and believe if you do it over and over...applying you own ideas..

but start using the base...

We are trading the forex base on Business Prinicples..
Using Line or credit to Increase revenue...More revenue from trades... Lower Loss...NET profit.

Now..There are techniques...That I use..to controll DD..on the AUD...
for example Buying LL on the Tripple SWAP run up...This technique Brijon showed in his videos.

But you dont need a whole bunch of techniques..to be profitable...

I am trading ...using the Trend on the strongest stock as shown from the pitbull indicator..

However ..I will enter also enter on pairs in profit or Losses...and BE those positions...the market will move those positions...either +ve or -ve..

We have no controll over the market..BUT WE HAVE CONTROL OVER OUR DD..and that's OUR POWER AS TRADERS.

So you set your MAX DD Tolerance....at 15% of your account..bal..
This give you room to operate without fear or greed.

An you keep printing profits Daily, Hourly, or minutes...taking profit...while focussing on the DD bal..

Some of the techqniues is for advance traders without BIASES...and for new traders who are willing Explore and be like a child..be innnocent with the market..and entering with the flow..

I Know I have been saying the same thing and it seems like its an endless loop...but so is the market..an endless loop..Man has managed to create a world that have no end to it using computer chip and monetary price manipulation.

One Love

ah so chips is taking his profits as the day goes on.
while some of the guys are closing at the end of the week some guys are closing as soon as the overall basket reaches X amount of pips positive and they just close all the positions (the scalpers) and one or two are building legs like Graeme

The light is getting brighter or am I way off base here?

I'm trying to sort through the videos today and download the new ones from rapid share.

Chips,

Thank you Chips for your reply. Will try to incorporate those ideas you mentioned. Will contrnue contributing by posting my observation taking my previous post onward (my Journal) as a point of reference. It would be nice if you can do the same.

I must also indicate that in opening a demo account, one must consider the size of your account. If you are planning to open a $500 live account, you must also open a demo with that size. While some broker allow you to trade .01 lot on $15,000 account, on live account that will not be permitted. And then you are on dilemma as you are accustom of working on big numbers.

God Bless,

Edd

this question may or may not be relevant but im going to ask anyway. does normal account vs ecn account have any effect on this method? hope somebody would shed a light on this matter

The FOREX WHEEL OF FORTUNE... LOSS PROFIT LOSS..

Think Profit...
Think Patience
Think Position Size
Think Control
Think Business

This is how I see the Market....

@DrPip - it should not make a difference whether you use ECN or non-ECN broker

I get your point. I tend to see that from my demo account and the pairs cycle up and down. Good illustration of the "loss profit loss" cycle I hope people see it clearly now...or not... lol...

Thanks chips, you've certainly put up a great trading method here.

It's good thing you mentioned about ECN/non-ECN. Those who want to educate themselves, you will find a lot of information from Ron Raygun's thread "My own broker arbitrage". You will find also information on how Market Makers/brokers employing dirty tactics to separate traders from their pocket. Very disappointing.

Here is the link: http://www.forexfactory.com/showthre...331106&page=20


Ed

I'm not controling DD to well. -180 the basket keeps rolling over on me.
the sells got profit then the longs go profit. Grrr very crazy day on the /jpy pairs

Mine is -58 but its doing great.Eu sessions started so i hope that would take buy to the bottom

funny thing is I just put the script on a MBT demo account I have and i've not touched it, not hedge no stacks nothing and the darn think is up 7 bucks. Maybe I need to start script and leave it running until london open. LOL

just hit 8 bucks
Think I'll close it at 10 and go to bed

-47 and its going up

guys, anyone got the manual on orest ea? its killing me with those numbers XD

Hi tommbstone.

Sorry the post was not directed at you. It was to anyone wishing to post
Not that I can or am trying to police this thread, its not my position to do so it was just... "come on mates" before we descend into anarchy.. lets wise up.
I was on the original BJ thread for a couple of months and then he got slung off and there were some pretty disgusting posts on there. Then Chips stated this thread and he got the same abuse, then people start attacking others... its all silly. Thankfully it has now passed and we are foucing on trading. just a heads up... Post are like email .... very easy to miss read. Not aimed specifically at you Tommbstone.
Cheers
CW

Chips or anyone, could you please explain a little more and educate us on the triple swap. I know you said buy AU on Wednesday. Are there any other pairs to consider on this? A few more details would be helpful. Thanks in advance.
Marlin Man

OK, I answered my own question. Maybe this will help if others have questions:


the difference between interest earned and paid is a swap.
so if you go long AUDUSD, ur long ozzie, short Dollar. You gain interest on your ausssie holding and pay interest on dollar. Since aussie interest is higher you earn more thn you pay on the dollar resulting in a positive swap charge. the opposite applies if you went short on AUDUSD.

if you have heard of the carry trade, its based on this whole interest rate diffrential. the NZDJPY is a huge carry trade attraction. why? cause jpy is low interest and kiwi is high..Most brokers apply swap daily at New York close, and triple the amount on Wednesdays to make up for Saturday and Sunday when there is no trading, but there are exceptions - Oanda being a notable one.

What's up ppl? Any good news,bad news etc.:nerd:

starting my new york/london session. just finished opening script. waiting for 1 hour XD