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Chicky's Trading Method Viewer

  • #61
  • Oct 8, 2012 11:36pm Oct 8, 2012 11:36pm
Quoting Chicky
Going to make some money tonight.
Won't be posting much, but this explorer will be showing my trades.
The Thief of Wall Street
  • #62
  • Oct 9, 2012 11:53am Oct 9, 2012 11:53am
Quoting Chicky
Won't be posting much, but this explorer will be showing my trades.
It went well in the begining, but I took a wrong decison at this blue line. Went long after it was penetrated and against the latest news.

Now trying to cover some of the loss, based purely on calculations. I think will be able to end near $13,500 or so. I think this is where I started the week or maybe little more than that.
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The Thief of Wall Street
  • #63
  • Oct 9, 2012 11:58am Oct 9, 2012 11:58am
Quoting Chicky
It went well in the begining, but I took a wrong decison at this blue line. Went long after it was penetrated and against the latest news.

Now trying to cover some of the loss, based purely on calculations. I think will be able to end near $13,500 or so. I think this is where I started the week or maybe little more than that.
I know how you feel. I got cut at my SL around the same levels. Could have taken 60 pips before going short again at 1.295, but I was scalping 1.295 and I didn't catch this super big 2nd move down. Regretted.

Hope you do better next time
A 1 pip gain is better than a 1 pip loss.
  • #64
  • Oct 9, 2012 12:03pm Oct 9, 2012 12:03pm
Quoting aeternum
I know how you feel. I got cut at my SL around the same levels. Could have taken 60 pips before going short again at 1.295, but I was scalping 1.295 and I didn't catch this super big 2nd move down. Regretted.

Hope you do better next time
LOL. I tried many times catching a big move and this is how I summarize my results:

1. Success (33.33% of the time)
2. Failure (33.33% of the time)
4. Pa came back and deprived me of all my profits plus gave loss (33.34% of the time).

I am now trying to do something that is more reliable and works most of the time. But this requires some investment and a lot of patience. Let's see what happens.
The Thief of Wall Street
  • #65
  • Oct 9, 2012 12:19pm Oct 9, 2012 12:19pm
Quoting almo
Does this mean we can post again?

Nevermind...I see your allowing it.


Ok...that being said. Chicky - my charts are screaming solid sell. If your scalping that is one thing, but there is at least 150 pips to the downside coming, possibly a lot more.
I am going against the trend. This is my strategy:

Principle: After making a big move, either as a trend break or contiuation of existing trend, the pa generally retraces 50%.

Strategy: Take a chance of 50% retrace with tight sls. If fail, make next try at another level. Each time try to enter at a more favorable price. For example if total pips lost number 50 in a move of 100 pips, if pa retraces 50% you are at least BE. Kindly note that this is not a martingale. Only one position open at a time. I vary my position size, but 80% to 90% remains constant.

ps. I don't know in which direction will be the next move, but surely know to which direction it will retrace.
The Thief of Wall Street
  • #66
  • Oct 9, 2012 1:16pm Oct 9, 2012 1:16pm
Quoting Chicky
LOL. I tried many times catching a big move and this is how I summarize my results:

1. Success (33.33% of the time)
2. Failure (33.33% of the time)
4. Pa came back and deprived me of all my profits plus gave loss (33.34% of the time).

I am now trying to do something that is more reliable and works most of the time. But this requires some investment and a lot of patience. Let's see what happens.
I also read about your reply to almo.

Maybe you'd want to consider looking into harmonic patterns as I've recently started? Most of the time you don't get a perfect pattern and there are many time frames to catch them so it really depends how you trade.

Maybe sometimes your entry for the 50% retracement is wrong because PA wants to take 61.8 or 78.2 instead, that's why PA comes back to hit your SL. Perhaps you should consider being a trend setter instead of a trend follower

I'm way less experienced than you. So I'm also looking at your charts to learn, both from mistakes and success.

Cheers.
A 1 pip gain is better than a 1 pip loss.
  • #67
  • Oct 9, 2012 3:29pm Oct 9, 2012 3:29pm
Quoting aeternum
I also read about your reply to almo.

Maybe you'd want to consider looking into harmonic patterns as I've recently started? Most of the time you don't get a perfect pattern and there are many time frames to catch them so it really depends how you trade.

Maybe sometimes your entry for the 50% retracement is wrong because PA wants to take 61.8 or 78.2 instead, that's why PA comes back to hit your SL. Perhaps you should consider being a trend setter instead of a trend follower

I'm way less experienced than you. So I'm also looking at your...
There are many patterns and other tools indicating probable moves, but no such tool is reliable. None of them ..............and this is how its supposed to be.

The only viable tool is the money management. It won't make a difference which tool I use for directional guidance, they all are equally good or worse.

I am trying to copy Jesse's money management technique with some modification. It is easy to follow Jesse's money management tactic on stocks and commodities but difficult on currencies. Let's see what happens. I may be wrong many times, but at least I follow some logic in doing what I do.
The Thief of Wall Street
  • #68
  • Oct 9, 2012 11:01pm Oct 9, 2012 11:01pm
I am now almost at my limit. If it does not move up 50 or 60 pips from here, will start losing my operating capacity.
The Thief of Wall Street
  • #69
  • Oct 10, 2012 8:23am Oct 10, 2012 8:23am
Quoting Chicky
There are many patterns and other tools indicating probable moves, but no such tool is reliable. None of them ..............and this is how its supposed to be.

The only viable tool is the money management. It won't make a difference which tool I use for directional guidance, they all are equally good or worse.

I am trying to copy Jesse's money management technique with some modification. It is easy to follow Jesse's money management tactic on stocks and commodities but difficult on currencies. Let's see what happens. I may be wrong many...
Sometimes I get so tempted to just throw everything I have into that one trade because I get overconfident. But all in all its a 50-50 chance. And that's gambling.

The 50% retracement sits at 1.29126 on my charts. Are you looking to take a short or filter it out and hope it goes higher?
A 1 pip gain is better than a 1 pip loss.
  • #70
  • Oct 10, 2012 8:42am Oct 10, 2012 8:42am
Quoting aeternum
Sometimes I get so tempted to just throw everything I have into that one trade because I get overconfident. But all in all its a 50-50 chance. And that's gambling.

The 50% retracement sits at 1.29126 on my charts. Are you looking to take a short or filter it out and hope it goes higher?
I have exactly the same level for a 50% retracement looking at 5M.

It depends when it gets there, before or after London Close, whether after 2:30 pm NY time, strength of NY bears, etc. But one thing is for sure, I need to add more longs.
The Thief of Wall Street
  • #71
  • Oct 10, 2012 9:36am Oct 10, 2012 9:36am
Quoting Chicky
I have exactly the same level for a 50% retracement looking at 5M.

It depends when it gets there, before or after London Close, whether after 2:30 pm NY time, strength of NY bears, etc. But one thing is for sure, I need to add more longs.
It got there already and I got out of my losing trades with a small profit. Looking to a 1.27xx level now
A 1 pip gain is better than a 1 pip loss.
  • #72
  • Oct 10, 2012 12:35pm Oct 10, 2012 12:35pm
Quoting aeternum
It got there already and I got out of my losing trades with a small profit. Looking to a 1.27xx level now
I want to see if it breaks and manages to stay above 1.2927. Just before leaving the arena, London proved that they are serious about attempting at 1.3000.
The Thief of Wall Street
  • #73
  • Oct 10, 2012 2:01pm Oct 10, 2012 2:01pm
Going for a short scalp
The Thief of Wall Street
  • #74
  • Oct 10, 2012 2:15pm Oct 10, 2012 2:15pm
Quoting Chicky
I want to see if it breaks and manages to stay above 1.2927. Just before leaving the arena, London proved that they are serious about attempting at 1.3000.
I'm actually not the only one who have the same wave count. I think I saw quite a few other traders being on the same wave as me. This being a consolidation before we slide downwards. If we break 1.2927 followed by 1.298x of yesterday's highs, there is a good chance that this EW has been ruined.

We should be able to see what the results are by the end of the week I guess.

Hope your trades go well. Cheers.
A 1 pip gain is better than a 1 pip loss.
  • #75
  • Oct 10, 2012 3:25pm Oct 10, 2012 3:25pm
LOL. Sometimes if pa fails to break a level during peak liquidity, it keeps on crawling towards that level, two pips up one pip down............. and before you notice, you find it smiling at you from the other side.
The Thief of Wall Street
  • #76
  • Oct 10, 2012 3:46pm Oct 10, 2012 3:46pm
Quoting Chicky
LOL. Sometimes if pa fails to break a level during peak liquidity, it keeps on crawling towards that level, two pips up one pip down............. and before you notice, you find it smiling at you from the other side.
Ah but it got to where I was looking for it. I actually felt it might hit 1298 before going down but that would invalid the wave counts. I'm just waiting for it to come up higher and get me into a short position before I go sleep. Don't wanna miss out on a 100+ pip drop if it happens.
A 1 pip gain is better than a 1 pip loss.
  • #77
  • Oct 10, 2012 3:57pm Oct 10, 2012 3:57pm
Quoting aeternum
Ah but it got to where I was looking for it. I actually felt it might hit 1298 before going down but that would invalid the wave counts. I'm just waiting for it to come up higher and get me into a short position before I go sleep. Don't wanna miss out on a 100+ pip drop if it happens.
Just completed my short scalp. Now waiting for a long opportunity
The Thief of Wall Street
  • #78
  • Oct 10, 2012 4:44pm Oct 10, 2012 4:44pm
Quoting Chicky
Just completed my short scalp. Now waiting for a long opportunity
re-entered longs, but not sure where to put sl
The Thief of Wall Street
  • #79
  • Oct 10, 2012 8:21pm Oct 10, 2012 8:21pm
I think Asians completed their trades and now they should wait to off load in London session.
The Thief of Wall Street
  • #80
  • Oct 10, 2012 9:40pm Oct 10, 2012 9:40pm
Closely watching current pa.

Temporarily moved sls out of pa's range. Trying to figure out what's going on. Looks like very controlled pa movement.

EuroUsd is getting ready to see what gold does when it hits 1765. The way gold managed 1760 indicates bulls are still in control.
The Thief of Wall Street
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