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Make Money Everyday - A Guide to Short-Term Trading

  • #1,081
  • Feb 7, 2012 6:20am Feb 7, 2012 6:20am
Didn't have time to trade tonight had other study to get through!

But here's a chart I knocked up of tonight's action into FO/LO etc.
This is what I think I would have done - really I would have been no where near as clever in real-time but here's my after the fact analysis.

Oh and as a note.. I have a bunch of virtual machines open for IT study which is slowing my lappy down big time. So tonight I just had the tick open.. Meaning I have no longer tf perspective. Not what I would normally do but the tick data tells a lot by itself.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 07-02-02 tick.jpg Size: 125 KB
  • #1,082
  • Feb 8, 2012 8:12am Feb 8, 2012 8:12am
Quoting nhen
Didn't have time to trade tonight had other study to get through!

But here's a chart I knocked up of tonight's action into FO/LO etc.
This is what I think I would have done - really I would have been no where near as clever in real-time but here's my after the fact analysis.

Oh and as a note.. I have a bunch of virtual machines open for IT study which is slowing my lappy down big time. So tonight I just had the tick open.. Meaning I have no longer tf perspective. Not what I would normally do but the tick data tells a lot by itself.

hey mate,

on first & third entry u would not get filled probably

its bid chart so price need to be 1 pip lower than the level

but at all yeah it looks nice
  • #1,083
  • Feb 8, 2012 6:44pm Feb 8, 2012 6:44pm
Quoting katrooo
hey mate,

on first & third entry u would not get filled probably

its bid chart so price need to be 1 pip lower than the level

but at all yeah it looks nice
Yep there's no way I would have got all of these live but I've actually been using market orders - naughty I know - but it was annoying me having some orders filled and then wiped out with a spike. So now I wait and market order.
Sometimes it means I get in late so miss two pips but I'm ok with that.
If I start getting terrible fills I'll have to go back to pendings
  • #1,084
  • Feb 9, 2012 1:59am Feb 9, 2012 1:59am
Quoting nhen
Yep there's no way I would have got all of these live but I've actually been using market orders - naughty I know - but it was annoying me having some orders filled and then wiped out with a spike. So now I wait and market order.
Sometimes it means I get in late so miss two pips but I'm ok with that.
If I start getting terrible fills I'll have to go back to pendings

yeah bro its very awful sometimes with those orders, especially when i didn't get filled by one pip into two winning trades in a row i always started to be emotional and doing terrible things then

but market odas wowow its a new dimension, then let us know how it goes
  • #1,085
  • Feb 9, 2012 8:29am Feb 9, 2012 8:29am
oooooooooooooooooohhhhh - my ears!!!! All this talk of market orders...... OUCH.......
  • #1,086
  • Feb 9, 2012 11:30am Feb 9, 2012 11:30am
Quoting mongolian
oooooooooooooooooohhhhh - my ears!!!! All this talk of market orders...... OUCH.......



mongo's got a headache!!! D
  • #1,087
  • Edited 5:00pm Feb 9, 2012 3:58pm | Edited 5:00pm
Quoting mongolian
oooooooooooooooooohhhhh - my ears!!!! All this talk of market orders...... OUCH.......
I knew you wouldn't like that mate haha
  • #1,088
  • Feb 9, 2012 4:02pm Feb 9, 2012 4:02pm
take it from me - don't get to comfy with these orders from the dark side...
  • #1,089
  • Feb 9, 2012 5:04pm Feb 9, 2012 5:04pm
Quoting enochben
take it from me - don't get to comfy with these orders from the dark side...

I'm using them for the reason above and because I'm looking at 5 pip RBs for confirmation of swing turning points during Frankie Hour, and sometimes throughout a session. So I'm waiting for the bar to form before entering - hence the market order.

Still waiting for pullbacks in normal trades so as not to just be jumping in willy nilly

Is the possible emotional problems the reason these are dark?
  • #1,090
  • Feb 9, 2012 10:50pm Feb 9, 2012 10:50pm
Quoting nhen

I'm using them for the reason above and because I'm looking at 5 pip RBs for confirmation of swing turning points during Frankie Hour, and sometimes throughout a session. So I'm waiting for the bar to form before entering - hence the market order.

Still waiting for pullbacks in normal trades so as not to just be jumping in willy nilly

Is the possible emotional problems the reason these are dark?
I get Emotional Problems caused by being a dumb ass for chasing trades. That's why no market orders....I create too many unprofitable trades with them. If i don't have time to plan my trade and to plan my work, i don't have time to trade, period. Do i lose out on some quality trades because i didn't get my limit in??? Of course - but I just stick to how I want to trade and stick to my guns... It works out in the end.

Mongolian
  • #1,091
  • Feb 11, 2012 9:14am Feb 11, 2012 9:14am
Mongonian,

Thank you for posting this method! It has helped me get a better understanding of market flow and for that I am grateful.
  • #1,092
  • Feb 11, 2012 7:53pm Feb 11, 2012 7:53pm
Quoting johnny2pips
Mongonian,

Thank you for posting this method! It has helped me get a better understanding of market flow and for that I am grateful.
Thanks for dropping by and for the kind words!

Mongolian
  • #1,093
  • Feb 12, 2012 2:06am Feb 12, 2012 2:06am
Quoting mongolian
I get Emotional Problems caused by being a dumb ass for chasing trades. That's why no market orders....I create too many unprofitable trades with them. If i don't have time to plan my trade and to plan my work, i don't have time to trade, period. Do i lose out on some quality trades because i didn't get my limit in??? Of course - but I just stick to how I want to trade and stick to my guns... It works out in the end.

Mongolian
Right on, I'm with ya mate.
I think I can keep it together if I still stick to my rules on entries but we'll see

How about some charts ya jerk?
  • #1,094
  • Feb 12, 2012 3:40am Feb 12, 2012 3:40am
Didn't trade was once again studying IT stuff but here's my after the fact chart.

Also will upload the RB chart I look at for confirmation one some trades - I've marked the tick arrows with 'RB' when the trade aligns with an RB close I would have perhaps traded.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 10-02-02 tick.jpg Size: 132 KB
Click to Enlarge Name: eu 10-02-02 rb smaller.gif Size: 27 KB
  • #1,095
  • Feb 12, 2012 11:17am Feb 12, 2012 11:17am
Quoting nhen
Didn't trade was once again studying IT stuff but here's my after the fact chart.

Also will upload the RB chart I look at for confirmation one some trades - I've marked the tick arrows with 'RB' when the trade aligns with an RB close I would have perhaps traded.
mate,

what is the RB and those weird lines on ur charts?
  • #1,096
  • Feb 12, 2012 5:11pm Feb 12, 2012 5:11pm
Quoting katrooo
mate,

what is the RB and those weird lines on ur charts?
Hey buddy,

RBs are Range Bars set to 5 (medici style) and the lines on that chart are just plotted by this S/R indi I have. I don't use it or look at the lines, just forgot to remove it
I only really use the MT4 chart for RBs, plotting S/D on higher TFs and placing trades. Then my FXCM tick chart is where I am mostly watching PA.
  • #1,097
  • Feb 13, 2012 4:46am Feb 13, 2012 4:46am
Excuse my language

I got home late tonight so missed FO; just got in around LO.

Just two trades for me, missed a nice setup after the second but I need some practice to get some nimbleness back!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 13-02-02 tick.jpg Size: 125 KB
Click to Enlarge Name: eu 13-02-02 rb.gif Size: 31 KB
  • #1,098
  • Feb 13, 2012 9:13am Feb 13, 2012 9:13am
Since you asked so nicely.... Here are a couple charts. One is PA for all of last week - a Big picture if you will. Second one is PA for today so far. I have lines marked at the 6 pip line as well - While I didn't mark anything about them on the chart - you can see how they can be used to add to your position(s). Questions, Comments, Snide remarks?

Mongolian
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Week.JPG Size: 75 KB
Click to Enlarge Name: 213.JPG Size: 206 KB
  • #1,099
  • Feb 13, 2012 12:14pm Feb 13, 2012 12:14pm
Something that I've really been working out lately and I figured I would share. It's easy to get caught up in the 'circumstances' of our environment. It's also easy to be a 'victim' of those circumstances.

When we trade - it's easy to say - AAAHHHH - I lost money, I've lost - and then to equate loss with how we see ourselves, i.e; I'm a loser. Same thing with winning - WOOO HOOO - I won money, I've won..... thus - I feel like a winner. These are traps - both of them.

The challenge is not let your circumstances dictact how you see yourself. You dictact who you are and thusly - Act ordering to the circumstances. I am not a trader who loses money or a trader who wins money, or a salesman who sucks at selling or is great at it, whatever. What I am is a husband, a father, a son, a brother, and I know what it is that is important to me in this life. Everything else kind of falls back as secondary. When I can detach myself from my trading - act according to what I know REGARDLESS of what the outcome is, and to have whatever outcome be what ever it is and I still am able to confidently look in the mirror and know who I am and what I am about - that is huge. I may be the only one who struggles with this - Separating myself from my money and my trades - I am neither. I know that I am neither one of those and in doing so - I am able trade. Trading is a tool that I have to impact my life - to make my life better. It is not my life. IF trading ever goes away and I can't trade any more.... That has zero impact on who I am as a person. It's simply a tool that I won't have in my toolbox.

Getting off the soapbox now. Have a great day boys!

Mongolian.
  • #1,100
  • Feb 13, 2012 12:25pm Feb 13, 2012 12:25pm
Quoting mongolian
Something that I've really been working out lately and I figured I would share. It's easy to get caught up in the 'circumstances' of our environment. It's also easy to be a 'victim' of those circumstances.

When we trade - it's easy to say - AAAHHHH - I lost money, I've lost - and then to equate loss with how we see ourselves, i.e; I'm a loser. Same thing with winning - WOOO HOOO - I won money, I've won..... thus - I feel like a winner. These are traps - both of them.

The challenge is not let your circumstances dictact how you see yourself....
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