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Amazing Black Magic Trading Method

  • #541
  • Sep 27, 2012 7:28pm Sep 27, 2012 7:28pm
Quoting Chicky
Now at BE
Going for a long scalp with 7.5 lots
The Thief of Wall Street
  • #542
  • Sep 27, 2012 8:32pm Sep 27, 2012 8:32pm
Quoting Chicky
Look at this chart. It still hasn't made a higher high. Jesse entered after it made two higher highs and one lower high at minimum. He also focused on bigger charts (his black red lines in Upward / Downward Trend column). But we are focusing only on one 1H trend. We should at least make sure it starts moving in the opposite direction. This is least we can do.

Ps. Somone knocked at the door couldn't finish.

You can see those green dots are the Lower Highs. We still have not made a Higher High. The last level marked with Yellow Arrow seems...
I see the green dots. Enjoy...
Don't just beat the markets, leave bruises.
  • #543
  • Sep 27, 2012 8:44pm Sep 27, 2012 8:44pm
Quoting Motion
I see the green dots. Enjoy...
It will take few more days to see if trend reverses. But this is the benchmark for now.
The Thief of Wall Street
  • #544
  • Sep 27, 2012 8:49pm Sep 27, 2012 8:49pm
BE Order in place. Going for a smoke. Will be back after few minutes. Daily bar will close before I return,.
The Thief of Wall Street
  • #545
  • Sep 27, 2012 10:10pm Sep 27, 2012 10:10pm
Quoting Chicky
BE Order in place. Going for a smoke. Will be back after few minutes. Daily bar will close before I return,.
This pa is now water logged. This is exactly what I wanted to avoid.

Let's see if gold makes a move. Euro is coming down to see how gold acts at 1780
The Thief of Wall Street
  • #546
  • Sep 27, 2012 10:19pm Sep 27, 2012 10:19pm
That shit hit my sl. I least expected that.
The Thief of Wall Street
  • #547
  • Sep 27, 2012 10:21pm Sep 27, 2012 10:21pm
Quoting Chicky
That shit hit my sl. I least expected that.
Re-entered longs. It should stall either at 1.2825 or 1.2850 just before London open.
The Thief of Wall Street
  • #548
  • Sep 28, 2012 12:18am Sep 28, 2012 12:18am
Quoting Chicky
Re-entered longs. It should stall either at 1.2825 or 1.2850 just before London open.
don't touch your key boards. You may disturb the pa a little. I have very tight sl on this one
The Thief of Wall Street
  • #549
  • Sep 28, 2012 1:16am Sep 28, 2012 1:16am
Quoting Chicky
don't touch your key boards. You may disturb the pa a little. I have very tight sl on this one
Going to bed. Pa is stuck
The Thief of Wall Street
  • #550
  • Sep 29, 2012 9:09pm Sep 29, 2012 9:09pm
Quoting Chicky
Going to bed. Pa is stuck
Repeated tries, all failed. Losing a lot. Should have waited. But if I wait then when I trade?
The Thief of Wall Street
  • #551
  • Edited Sep 30, 2012 2:07pm Sep 29, 2012 9:12pm | Edited Sep 30, 2012 2:07pm
I saw a nice post the other day which would likely track an appropriate mind set to what you're trying to do: maybe? not sure

Quoting mjotic
Trading is a business.

You can run it like a dollar store.

You can run it like a Louis Vuitton store.

Or you can do something in between.


The difference between running it like a dollar store or like a Louis Vuitton store is the profit margin per item sold. (Margin = Sales - Cost of Goods Sold)

If you're running a dollar store you're making very little margin per sale but looking for a high volume of sales.

If you're running a Louis Vuitton store you'll have few sales but your margin will be incredibly high. Only a few sales will give you a lot of revenue.

What are the risks to these kinds of businesses?

Dollar Store (elastic demand)
- Competition reduces your selling price
- Cost of goods sold increases
- Sales volume decreases

Louis Vuitton (inelastic demand)
- Sales volume decreases


Luxury retailers do not compete on price therefore selling price pressure is unlikely. Your major worry as a luxury retailer is that you go through a period where there isn't demand for your goods and you can't pay your overhead.


How does this relate to trading?

- Dollar Store = scalper
- Louis Vuitton = longer term position trader

Why?

- Dollar store: Quick sales and plenty of them over a year
- Louis Vuitton: Very few sales over a year

This tells you how often you should be entering the market giving the kind of profit per trade you're looking to capture....


I'm on my way to become successful in this business and I know it. I've already gotten what I needed from this forum to make money.

If you're unsuccessful and you can't understand the analogies I've made well.... I don't know what to tell you.


Love

Marko
love cindy lol
Time hides Nothing
  • #552
  • Sep 29, 2012 10:06pm Sep 29, 2012 10:06pm
Don't be disheartened..Try harder...watch more price action...many many hours more...and you will get it figured out..All the best!
  • #553
  • Sep 29, 2012 10:16pm Sep 29, 2012 10:16pm
Quoting CindyXXXX
I n'know Chicky, maybe no means no

But on a serious note I saw a nice post the other day which would likely track an appropriate mind set to what you're trying to do: maybe? not sure



love cindy lol
I have been running this $ store for quite some time. That is no fun and tiring. I now want to make a sale, a very big sale with moderate risk. Still 30% left before I drop back to my Loonie store tactic.
The Thief of Wall Street
  • #554
  • Sep 30, 2012 11:55am Sep 30, 2012 11:55am
Quoting Chicky
I have been running this $ store for quite some time. That is no fun and tiring. I now want to make a sale, a very big sale with moderate risk. Still 30% left before I drop back to my Loonie store tactic.
Temporarily removed sl. Will place them back once market normalizes after week start.
The Thief of Wall Street
  • #555
  • Sep 30, 2012 12:03pm Sep 30, 2012 12:03pm
Quoting Chicky
Temporarily removed sl. Will place them back once market normalizes after week start.
Looking at the break of these two yellow lines on either side. If it breaks the bottom one, will have to wait and watch. But if it breaks the top one, a trend reversal is confirmed. At the moment, going for a trend reversal.
My revised BE order at 1.2965 was short by few pips. Should not have moved that order from 1.2953. But you don't know until it happens. My job is to take chances, both, obvious and longshots. Taking a long shot up to 1.3200.
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The Thief of Wall Street
  • #556
  • Sep 30, 2012 12:21pm Sep 30, 2012 12:21pm
Quoting Chicky
Looking at the break of these two yellow lines on either side. If it breaks the bottom one, will have to wait and watch. But if it breaks the top one, a trend reversal is confirmed. At the moment, going for a trend reversal.
My revised BE order at 1.2965 was short by few pips. Should not have moved that order from 1.2953. But you don't know until it happens. My job is to take chances, both, obvious and longshots. Taking a long shot up to 1.3200.
Looks like its going to be a Night of Long Knives
The Thief of Wall Street
  • #557
  • Sep 30, 2012 1:48pm Sep 30, 2012 1:48pm
This thread is closed.

Find your own way in the dark.
The Thief of Wall Street
  • #558
  • Sep 30, 2012 1:51pm Sep 30, 2012 1:51pm
Quoting Chicky
This thread is closed.

Find your own way in the dark.
Did something happen?
A 1 pip gain is better than a 1 pip loss.
  • #559
  • Edited 2:40pm Sep 30, 2012 2:13pm | Edited 2:40pm
Quoting Chicky
I have been running this $ store for quite some time. That is no fun and tiring. I now want to make a sale, a very big sale with moderate risk. Still 30% left before I drop back to my Loonie store tactic.
Chicky sorry to hear closing thread. An idea I used to play with back in the day was whilst waiting for a big long term move. Trading intraday and trying to build up some profits to go towards the longer term move. So in a way funding the big move with the scalps.

Is this the kind of thing you mean?

Stick at it mate.
Time hides Nothing
  • #560
  • Sep 30, 2012 2:29pm Sep 30, 2012 2:29pm
Quoting Chicky
This thread is closed.

Find your own way in the dark.
Came to know about this thread from your post at the EURUSD thread. Checked it out and told myself it would be great following your trades. Less than 5 minutes later the thread is closed...

TF
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