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Day Trading for a Living

  • #761
  • Jul 21, 2012 5:11am Jul 21, 2012 5:11am
Quoting GDR3k
Stll in profit but a very small profit, not put many trades on this week either and missed a few good opportunitys like that trade from the daily pivot yesterday by not following my rules. Quite frustrating to be honest! lol

I'm not a religious person however this image sums up the past week for me perfectly.

Yes good 1, I'm very religious I'm a devote atheist

Life normally does throw in a spanner to keep you down I find, like my damn cat, which came back last night and is know where to be seen again, got 2 of them both old doing that arrgghhhhhhhhhhhh!!

I'd say back to normal next week, but 6 weeks of school holidays so kids Tuesdays and Thursdays, hopefully use the Note and keep hammering it.

Life!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #762
  • Jul 21, 2012 6:11am Jul 21, 2012 6:11am
Quoting Turveyd
Yes good 1, I'm very religious I'm a devote atheist

Life normally does throw in a spanner to keep you down I find, like my damn cat, which came back last night and is know where to be seen again, got 2 of them both old doing that arrgghhhhhhhhhhhh!!

I'd say back to normal next week, but 6 weeks of school holidays so kids Tuesdays and Thursdays, hopefully use the Note and keep hammering it.

Life!!
Next door has a Sphynx cat, a proper weird looking thing, I've always wanted a strange and unusual looking cat but don't think my dog would approve!!

I wouldn't mind an oriental shorthair though, I love those, very clever!
  • #763
  • Jul 21, 2012 7:00am Jul 21, 2012 7:00am
Quoting GDR3k
Next door has a Sphynx cat, a proper weird looking thing, I've always wanted a strange and unusual looking cat but don't think my dog would approve!!

I wouldn't mind an oriental shorthair though, I love those, very clever!
Mine at just moggys ive homed cats at cats to me.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #764
  • Jul 21, 2012 7:29am Jul 21, 2012 7:29am
Quoting Turveyd
Yes good 1, I'm very religious I'm a devote atheist

Life normally does throw in a spanner to keep you down I find, like my damn cat, which came back last night and is know where to be seen again, got 2 of them both old doing that arrgghhhhhhhhhhhh!!

I'd say back to normal next week, but 6 weeks of school holidays so kids Tuesdays and Thursdays, hopefully use the Note and keep hammering it.

Life!!

  • #765
  • Jul 23, 2012 2:09am Jul 23, 2012 2:09am
Morning All!

I am looking at shorting the Euro around the level that it is now. We have prior support, S1 and 00 number...

Just waiting or the entry now...
  • #766
  • Edited 2:38am Jul 23, 2012 2:16am | Edited 2:38am
Quoting Nexas
Morning All!

I am looking at shorting the Euro around the level that it is now. We have prior support, S1 and 00 number...

Just waiting or the entry now...
I'm short @ 1.2099, got in on the pullback to the whole number on the 5m, TP is 1.20553....stopped at break even.

Back in short @ 1.2096
  • #767
  • Jul 23, 2012 2:41am Jul 23, 2012 2:41am
I got taken out for a small loss.

Looking for a re-entry...
  • #768
  • Jul 23, 2012 3:32am Jul 23, 2012 3:32am
Indexs and oil are moving well again FX back to dead be warned!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #769
  • Jul 23, 2012 3:56am Jul 23, 2012 3:56am
I've been studying the charts this weekend and found something new in price movement (well, its always been there but I've only just noticed it and wasn't even looking for it..), only backtested it on gbpusd as ive gone back a few years which took all the time, but found it to be consistant and it massively puts the odds in your favour for a winning trade, stay tuned.

edit, Just looked back on EURUSD also and its consistant on that aswell.
  • #770
  • Jul 23, 2012 5:01am Jul 23, 2012 5:01am
Well... you can't just leave us hanging like that :-)
  • #771
  • Edited 5:57am Jul 23, 2012 5:14am | Edited 5:57am
Quoting Nexas
Well... you can't just leave us hanging like that :-)


Well...

Say if the price breaks away from a whole number area, say 1.2100, chances are it'll reach the next half number area of 1.2150 depending on direction but more than likely It'll move about 100 pips to the next whole number, now say if price has stalled at a quarter number say the 1.2175 area and it breaks away south, chances are it'll reach the 1.2125 area or the very least the next half number area so about 20-25 pips, I've backtested this and verified it back atleast 3 years on gbpusd. Its also looking pretty good on eurusd also, aswell as audusd.

Even better it it breaks through a level and pulls back before stalling then carrying on, as indicated in the picture below which is gbpusd, the thick purple lines are whole and half number, the pink lines are quarter numbers. Also if the price has stalled above a level, chances are it'll break way north, and if its stalled under a level, chances are it'll breakaway south. This sorta trading works best with moving SL to break even after about 10 pips or so, incase it reverses and carrys on. Also going with the intraday trend also helps.

So the general movements are whole/half number areas to whole/half number areas, quarter number areas to quarter number areas. The forex boson has been found.
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  • #772
  • Jul 23, 2012 5:27am Jul 23, 2012 5:27am
Quoting GDR3k


Well...

Say if the price breaks away from a whole number area, say 1.2100, chances are it'll reach the next half number of 1.2150 depending on direction but more than likely It'll move about 100 pips to the next whole number, now say if price has stalled at a quarter number say the 1.2175 area and it breaks away south, chances are it'll reach the 1.2125 area or the very least the next half number area so about 20-25 pips, I've backtested this and verified it back atleast 3 years on gbpusd. Its also looking pretty good on eurusd also,...
GDR, you da man!
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #773
  • Jul 23, 2012 8:22am Jul 23, 2012 8:22am
Found a better less confusing directional setup for myself, but lacking the confidence to actually use it so far, so just been watching hopefully start putting it to use soon ish.


too damn hot!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #774
  • Jul 23, 2012 3:39pm Jul 23, 2012 3:39pm
Been testing your new theory all day GDR ?? how's it looking.

You previous trade, SL'd or was it far enough out ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #775
  • Jul 23, 2012 4:02pm Jul 23, 2012 4:02pm
Quoting Turveyd
Been testing your new theory all day GDR ?? how's it looking.

You previous trade, SL'd or was it far enough out ??
Yeah it got hit at break even after I'd moved it, not made any money today just been trying to perfect this and cover all possible outcomes/chart patterns.
  • #776
  • Jul 23, 2012 4:06pm Jul 23, 2012 4:06pm
Quoting GDR3k
Yeah it got hit at break even after I'd moved it, not made any money today just been trying to perfect this and cover all possible outcomes/chart patterns.
Atleast it wasn't a loss.

Hard to trade this unidirectional days, we want big ranged chop you don't want to chase it and can't reverse it.

Always tomorrow, kid all day so hoping to put the Note to use for real all day, will see how that goes hey I suspect badly!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #777
  • Edited 4:32am Jul 24, 2012 3:51am | Edited 4:32am
AUDUSD long...

SL is currently @ break even @ 10+ pips.

Its a trade against the obvious downtrend, lets see what happens.

Stopped at BE.
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  • #778
  • Jul 24, 2012 4:20am Jul 24, 2012 4:20am
Choppy am, taking the kids for a bike ride, then park for US session so I can trade via the phone, tis a good plan, watch it FAIL! LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #779
  • Jul 24, 2012 4:22am Jul 24, 2012 4:22am
Quoting Turveyd
Choppy am, taking the kids for a bike ride, then park for US session so I can trade via the phone, tis a good plan, watch it FAIL! LOL
I'm out on my bike later tonight, got a nice 40ish mile route with a few horrific hills in, legs are still a bit tender from yesterdays run aswell.
  • #780
  • Edited 9:34am Jul 24, 2012 8:05am | Edited 9:34am
As of today I'm gonna compound my account like mad for atleast a month, going for 20-50 pips off one trade only per day and waiting for that perfect set up and trade using my method only. Made +20 on GU earlier from 5503 to 5523 so thats me done for today and on the sidelines I will be until tomorrow 8am London open, in all fairness though I'm more than comfortable with this and I've been getting greedy as of late which has hindered my profits slightly.

This is what I was doing a while back before I started posting on here and its what got my account upto the size it is (going for that one maybe two trades at the very most per day, going for 20-50 pips on a trade), so risking those profits made on the previous trade during the same day isn't gonna happen anymore even though more pips would be nice, however.

For daytrading, you have to wait for the right moment, take what you need and only what you can carry without being greedy, then get out fast before being seen.

Slow & steady wins the race.

So...

24/07/2012 +20

Edit - talk about the perfect entry in the pic below for a nice 20-25 pip move, I never traded it as I'm sticking to my rules completely now, but just for future reference.
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