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Amazing Black Magic Trading Method

  • #381
  • Sep 13, 2012 1:49pm Sep 13, 2012 1:49pm
Quoting Chicky
For short term MFs, 1.2981 to 1.2920 seems good
Short. No demand at 1.3000
The Thief of Wall Street
  • #382
  • Sep 13, 2012 5:21pm Sep 13, 2012 5:21pm
Quoting Chicky
Short. No demand at 1.3000
Pa didn't even touch 1.3009. It stayed at 1.3001 and 1.3002 but got no order. Few orders just below 1.3000 but nothing significant.

I am long-term shorting with tp just above 1.2750
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The Thief of Wall Street
  • #383
  • Sep 13, 2012 5:40pm Sep 13, 2012 5:40pm
This is the strength of my shorts. 1.3078................ exactly 100 pips above current level
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The Thief of Wall Street
  • #384
  • Sep 13, 2012 8:36pm Sep 13, 2012 8:36pm
Quoting Chicky
Pa didn't even touch 1.3009. It stayed at 1.3001 and 1.3002 but got no order. Few orders just below 1.3000 but nothing significant.

I am long-term shorting with tp just above 1.2750
Chicky,

While I agree now is an appropriate time to short - I'm not getting the feeling 1.27's are in the cards.

I can't really argue with success though....clearly you've got this down.

Congrats on the wins!
  • #385
  • Sep 13, 2012 8:48pm Sep 13, 2012 8:48pm
Quoting almo
Chicky,

While I agree now is an appropriate time to short - I'm not getting the feeling 1.27's are in the cards.

I can't really argue with success though....clearly you've got this down.

Congrats on the wins!
Almo. The experiment is almost over. We managed from 2,500 to 20,000, not with 1:500 leverage, but with 1:50 leverage.

I am now risking all the profit to see what happens. Want to take some rest. When we are back to $10,000, will strictly follow the modified Jesse's method with rules and regulations.

By the way, it has hit 1.3009, let's see what's next.

ps. My real account aiming to generate $100 for the modified Jesse's method also shows over 100% profit, i.e. $30. Will continue demo until real account gets to $100.
The Thief of Wall Street
  • #386
  • Sep 14, 2012 7:04am Sep 14, 2012 7:04am
Quoting Chicky
Almo. The experiment is almost over. We managed from 2,500 to 20,000, not with 1:500 leverage, but with 1:50 leverage.

I am now risking all the profit to see what happens. Want to take some rest. When we are back to $10,000, will strictly follow the modified Jesse's method with rules and regulations.

By the way, it has hit 1.3009, let's see what's next.

ps. My real account aiming to generate $100 for the modified Jesse's method also shows over 100% profit, i.e. $30. Will continue demo until real account gets to $100.
Most excellent ! Looking forward to the live testing.

Have a great weekend Chicky
  • #387
  • Sep 17, 2012 8:16am Sep 17, 2012 8:16am
Quoting Chicky
Almo. The experiment is almost over. We managed from 2,500 to 20,000, not with 1:500 leverage, but with 1:50 leverage.

I am now risking all the profit to see what happens. Want to take some rest. When we are back to $10,000, will strictly follow the modified Jesse's method with rules and regulations.

By the way, it has hit 1.3009, let's see what's next.

ps. My real account aiming to generate $100 for the modified Jesse's method also shows over 100% profit, i.e. $30. Will continue demo until real account gets to $100.
Back to 10,000. Tried to withdraw few dollars to bring the account back to exactly at 10,000 - didn't work. Therefore re-started with 10,150 or so.

Following Jesse Livermore's modified method on short-term (almost scalping) trades.

Now realize one more aspect of Jesse's method which I didn't focus previously, that is, waiting for the right set-up. If I summarize his edge for shorter-term trading /scalping it was because of:

1. Waiting for the right setups and entering at the right time
2. Money Management
3. Shoe string margins and good r/r

I am not sure how will I use these three elements in my trades, that depends on the market conditions, but won't deviate from these three basics.

We managed to double our account in four months, but that was so high risk that we almost went bankrupt in the begining. That was pure luck. You see how we lost all our profits in the last trade on a single chance. Yes, taking significant risk works when one is right at least 7 or 8 times in every ten trades, but currency market is so volatile that it requires more than a miracle to achieve this kind of success ratio.
The Thief of Wall Street
  • #388
  • Sep 17, 2012 10:09am Sep 17, 2012 10:09am
Quoting Chicky
Back to 10,000. Tried to withdraw few dollars to bring the account back to exactly at 10,000 - didn't work. Therefore re-started with 10,150 or so.

Following Jesse Livermore's modified method on short-term (almost scalping) trades.

Now realize one more aspect of Jesse's method which I didn't focus previously, that is, waiting for the right set-up. If I summarize his edge for shorter-term trading /scalping it was because of:

1. Waiting for the right setups and entering at the right time
[color=darkred][b]2. Money...
This fuckin' thing is stuck. Managed to get only 20% out of this shit.
The Thief of Wall Street
  • #389
  • Sep 17, 2012 10:44am Sep 17, 2012 10:44am
Quoting Chicky
This fuckin' thing is stuck. Managed to get only 20% out of this shit.
I think 30% should be ok for now. Closed position and now waiting for another opportunity. 11:45 EST, i.e. 15 minutes before London close is not a good time to carry a scalping position.
The Thief of Wall Street
  • #390
  • Sep 17, 2012 11:32am Sep 17, 2012 11:32am
Quoting Chicky
I think 30% should be ok for now. Closed position and now waiting for another opportunity. 11:45 EST, i.e. 15 minutes before London close is not a good time to carry a scalping position.
Short with 5 lots. But if this thing doesn't move quickly below 1.3125, will surely hit my sl.
The Thief of Wall Street
  • #391
  • Sep 17, 2012 11:35am Sep 17, 2012 11:35am
Quoting Chicky
Short with 5 lots. But if this thing doesn't move quickly below 1.3125, will surely hit my sl.
Closed 3 lots.
The Thief of Wall Street
  • #392
  • Sep 17, 2012 11:43am Sep 17, 2012 11:43am
Quoting Chicky
Closed 3 lots.
Back to 5
The Thief of Wall Street
  • #393
  • Sep 17, 2012 12:13pm Sep 17, 2012 12:13pm
Quoting Chicky
Back to 5
It seems some greedy bastard is trying to give it a little push. Let's see how it turns out.
The Thief of Wall Street
  • #394
  • Sep 17, 2012 1:10pm Sep 17, 2012 1:10pm
Quoting Chicky
It seems some greedy bastard is trying to give it a little push. Let's see how it turns out.
Closed all. Will look for the next opportunity.
The Thief of Wall Street
  • #395
  • Sep 17, 2012 1:34pm Sep 17, 2012 1:34pm
Quoting Chicky
Closed all. Will look for the next opportunity.
Short with little more than 5 lots. But this pa seems water logged.
The Thief of Wall Street
  • #396
  • Sep 17, 2012 1:35pm Sep 17, 2012 1:35pm
Quoting Chicky
Short with little more than 5 lots. But this pa seems water logged.
Closed half. Screw the rest
The Thief of Wall Street
  • #397
  • Sep 17, 2012 1:59pm Sep 17, 2012 1:59pm
Quoting Chicky
Closed half. Screw the rest
Seems 1.3150 is holding.
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The Thief of Wall Street
  • #398
  • Sep 17, 2012 3:09pm Sep 17, 2012 3:09pm
Quoting Chicky
Seems 1.3150 is holding.
Short. Hope it doesn't break 1.3118
The Thief of Wall Street
  • #399
  • Sep 17, 2012 3:35pm Sep 17, 2012 3:35pm
Quoting Chicky
Short. Hope it doesn't break 1.3118
Chicky,

From what I can tell...we got our approx 80 pip retracement that was expected. I don't see much more downside on this.


Just my 2 cents.
  • #400
  • Sep 17, 2012 4:38pm Sep 17, 2012 4:38pm
Quoting almo
Chicky,

From what I can tell...we got our approx 80 pip retracement that was expected. I don't see much more downside on this.


Just my 2 cents.
I can see nothing but someone hitting my sls. Let's this battle continue. It will hang around near 1.3100 until markets open, may be dip to 1.3080. But if it crosses 1.3078 and stays there............................. I will be lighting a candle for Jesse Livermore.
The Thief of Wall Street
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