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Scalping 20+ trades per day

  • #1,001
  • Apr 11, 2012 4:02pm Apr 11, 2012 4:02pm
Quoting matheszabi
here is my today performance: only EUR/USD.
and I have a 9.4 PIP at midnight somewhere, but at closed positions I see 4, anyhow it is: 9.4 + 14.9 + 17.1 + 9.6 PIP and made: + 4,93% of balance.
Only EUR/USD.
Correct me if I am wrong. Your risk is 0.1% equity per pip. This means that if the price goes against you 10 pips you will lose 1% of your equity. And in a post before you said no SL. Your risk appetite is way too high for me. But if you are comfortable with it...

I could see that you have your own thread "when to break the 2% rule". My journal is about my averaging method and has nothing to do with the 2% rule. In fact I think that the 2% rule is a bogus rule developed specifically to wipe beginners accounts through SL hits. But this is another topic that I do not want to develop here.

Congratulations on your performance but this thread is not about confronting results. I hope you understand this.
If you're not part of the solution then you're part of the problem.
  • #1,002
  • Apr 12, 2012 12:20pm Apr 12, 2012 12:20pm
Quoting majorusa
We are in the room if you want to join us.

Total today +125 pips
Hi majorusa,

Very good results from your trading. Is there any way that I can join in the trading room? Or do you still post the trades here as they happen?

Good luck with the trading
J316
  • #1,003
  • Apr 13, 2012 5:14am Apr 13, 2012 5:14am
Just wanted to say Hi, to Subscribe.
  • #1,004
  • Apr 14, 2012 12:13pm Apr 14, 2012 12:13pm
Quoting majorusa
We are in the room if you want to join us.

Total today +125 pips
What is the procedure to join your room? Is it by private message request? Can anyone who's in the room tell me how to join? Thanks!
No longer trading forex. Looking for full time job.
  • #1,005
  • Apr 14, 2012 12:14pm Apr 14, 2012 12:14pm
I want to wish Happy Easter to all the orthodox traders! A peaceful long week-end!
If you're not part of the solution then you're part of the problem.
  • #1,006
  • Apr 14, 2012 12:16pm Apr 14, 2012 12:16pm
Quoting mmaker
What is the procedure to join your room? Is it by private message request? Can anyone who's in the room tell me how to join? Thanks!
Hi. New admissions for the time being are closed. But very soon I will trim the memberships and close the ones that do not participate in the room. When the time will come I will post in the thread.
If you're not part of the solution then you're part of the problem.
  • #1,007
  • Apr 14, 2012 1:25pm Apr 14, 2012 1:25pm
sorry,that must be me then,i didn`t check the spam folder
  • #1,008
  • Apr 16, 2012 5:39am Apr 16, 2012 5:39am
Quoting mmaker
What is the procedure to join your room? Is it by private message request? Can anyone who's in the room tell me how to join? Thanks!

Hi mmaker, I can't seem to send you a private message? I'm a noob to this forum, so may mean you don't allow them? Could you please send me a private message so I can respond? I would like to have a friendly chat.
I just re-read my message. It sounds ominous. LOL I can assure you it's friendly. I like some of your posts and I have a question, that's all.
Regards Prop.
  • #1,009
  • Apr 17, 2012 1:04am Apr 17, 2012 1:04am
Good morning. Due to unavoidable personal reasons I have to extend my Easter vacation. Sorry for the inconvenience! I will see you all on Monday April 23, 2012.

Meanwhile, happy trading!
If you're not part of the solution then you're part of the problem.
  • #1,010
  • Apr 17, 2012 11:08am Apr 17, 2012 11:08am
Awesome thread !

But: I'm also counter trader but in the beginning you were down 40 positions and 200 pips... mean -8000 Pips. Market returned...yes but I think it's too dangerous how you handle it.
How long do you trade that style ? Half a year ? I'm analyzing counter trend trading for years now...some day you have to realize a huge loss > -10000 Pips.(on your trading style) It's half of your performance a year or more. Be prepared.

You also should not exceed you TP's ! If a trade goes against you it's not the problem to close it for -100 pips. (at all with all positions).
Always remember: Take what the market gives to you, not less and not more.

greets Jack !
  • #1,011
  • Apr 19, 2012 6:05am Apr 19, 2012 6:05am
majorusa, could you explain to me a bit more about your trading style and method, you say you counter trend trade at S/R and pivots, do you place pending orders at these levels or wait for PA to indicate to you it may reverse before getting in? Reason I ask, is I trade in a similar way however I find placing pending orders I can net more pips, rather than waiting for PA to tell me price has stalled and will probabaly reverse and then getting in.

Thanks.
  • #1,012
  • Apr 23, 2012 2:59am Apr 23, 2012 2:59am
Good morning.

I have no internet feed today due to scheduled constructions works. This is life. C u tomorrow.
If you're not part of the solution then you're part of the problem.
  • #1,013
  • Apr 24, 2012 3:09am Apr 24, 2012 3:09am
Good morning.

sh eu 79
sh au 93
If you're not part of the solution then you're part of the problem.
  • #1,014
  • Apr 24, 2012 3:31am Apr 24, 2012 3:31am
sh gu 45
If you're not part of the solution then you're part of the problem.
  • #1,015
  • Apr 24, 2012 8:43am Apr 24, 2012 8:43am
add eu 00 av 89
If you're not part of the solution then you're part of the problem.
  • #1,016
  • Apr 24, 2012 8:58am Apr 24, 2012 8:58am
out gu 30 +15 pips
If you're not part of the solution then you're part of the problem.
  • #1,017
  • Apr 24, 2012 9:02am Apr 24, 2012 9:02am
add au 14 1/2 pos av 99
If you're not part of the solution then you're part of the problem.
  • #1,018
  • Apr 24, 2012 11:34am Apr 24, 2012 11:34am
out au 93 + 6 pips 1 1/2 adds
total + 9 pips on the trade
If you're not part of the solution then you're part of the problem.
  • #1,019
  • Apr 25, 2012 7:32am Apr 25, 2012 7:32am
Hi.

Today I had to fight the red tape and it took more than I expected. Currently I am holding the eu position two add-ins av 89.

I failed to add at 28. So this is it. I will be on and off this week.

I am sorry for the inconvenience.
If you're not part of the solution then you're part of the problem.
  • #1,020
  • Apr 25, 2012 9:15am Apr 25, 2012 9:15am
Quoting JackintheBox
Awesome thread !
...some day you have to realize a huge loss
greets Jack !
I've been profitable with your approach for 2 months. However, I still am not confident that I'm not going to lose it all in one trade.
You said you sell off the first entries in order to keep entering, to continue to raise the average. However, if you can hold the trade until it is 400 to 500 pips against your first entry, then you sell off a few of your first entries as price continues to move against you, then you're down -1000 pips very quickly, at a minimum. That's at least a months worth of profit lost in one trade.
What do I need to learn in order to resolve this kind of risk?

Thank you,
MTC
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