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Chicky's Trading Method Viewer

  • #221
  • Oct 17, 2012 4:17pm Oct 17, 2012 4:17pm
Quoting aeternum
I guess you were right with the movements. We are definitely looking at 1.35 now with this burst. I am looking for a retracement to 1.30179, wonder if it'll get there.
I think a retrace is first. Don't know to what extent but this chart tells a story about a LH in making. If it doesn't make a lower high here, will form someplace else.

I never intended to take that much risk, but I did. Once in, I cannot leave it unfinished. My intention was to gain potential profit at least equal to the number of pips lost in each try, so that when it 50% retraces, I quit BE. But 1) I went beyond my risk limit, 2) Beyond my operating capacity. The only rescue for me is a LH formation either here or near the next high.
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The Thief of Wall Street
  • #222
  • Oct 17, 2012 11:07pm Oct 17, 2012 11:07pm
Trying to catch final spike up (if it happens) before it goes down. This spike may occur any time from now and London open. Could be anything from a 40 to 100 pips.
The Thief of Wall Street
  • #223
  • Oct 17, 2012 11:15pm Oct 17, 2012 11:15pm
Quoting Chicky
Trying to catch final spike up (if it happens) before it goes down. This spike may occur any time from now and London open. Could be anything from a 40 to 100 pips.
For record, you won't find this trade on my real account. Not taking this wild chance on my real account. So far took all similar trades on my real account.
The Thief of Wall Street
  • #224
  • Oct 17, 2012 11:35pm Oct 17, 2012 11:35pm
Wondering for the past few days why can't I scalp.

Not used 5M chart after I grew up, but now using for this account. It's impossible to survive on 5M chart if its not more than 6 ft away from my eyes.
The Thief of Wall Street
  • #225
  • Oct 18, 2012 12:12am Oct 18, 2012 12:12am
Quoting Chicky
I think a retrace is first. Don't know to what extent but this chart tells a story about a LH in making. If it doesn't make a lower high here, will form someplace else.

I never intended to take that much risk, but I did. Once in, I cannot leave it unfinished. My intention was to gain potential profit at least equal to the number of pips lost in each try, so that when it 50% retraces, I quit BE. But 1) I went beyond my risk limit, 2) Beyond my operating capacity. The only rescue for me is a LH formation either here or near the next high.
Yes definitely I feel that a retrace is incoming as well. I caught 24 pips throughout the night. Could have gotten more, but I was all in for this so it was rather worth it.
A 1 pip gain is better than a 1 pip loss.
  • #226
  • Oct 18, 2012 12:43am Oct 18, 2012 12:43am
Quoting Chicky
Trying to catch final spike up (if it happens) before it goes down. This spike may occur any time from now and London open. Could be anything from a 40 to 100 pips.
Closed long. This spike was about 25 pips or so. Don't know if it will continue................... I think its not finished yet.
The Thief of Wall Street
  • #227
  • Oct 18, 2012 12:51am Oct 18, 2012 12:51am
Quoting Chicky
Closed long. This spike was about 25 pips or so. Don't know if it will continue................... I think its not finished yet.
I think 24 is the ideal place to short
The Thief of Wall Street
  • #228
  • Oct 18, 2012 9:32am Oct 18, 2012 9:32am
Quoting Chicky
I think 24 is the ideal place to short
1.3060 ideal place to take some profits off the table

Shorts in danger above 1.3090 but it can normally bounce upto 1.3098
The Thief of Wall Street
  • #229
  • Oct 18, 2012 9:48am Oct 18, 2012 9:48am
Some very short term levels
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The Thief of Wall Street
  • #230
  • Oct 18, 2012 11:48am Oct 18, 2012 11:48am
10k to 1million is very possible. All the best! You should do it with real money one day
  • #231
  • Oct 18, 2012 1:17pm Oct 18, 2012 1:17pm
Quoting Supertrader9
10k to 1million is very possible. All the best! You should do it with real money one day
Thanks. Let's see what happens. I sometimes deviate from my MM rules. This seems to be the only problem. The method itself is sound. As mentioned earlier, I have a corresponding real account taking similar trades.

Took some profits off. Will re-enter closed positions if it bounces to 1.3103.

I have decided to make some change in my entry and exit methods. Based on one thought that I got while meditating many years ago. But that thougnt just flashed for a fraction of second and disappeared. I couldn't get it back in all those years. I yesterday got it back and did some calculations. Logically it should work. Also simplified its application.

In summary:

A. It requires using these three position categories during a move:

#1. Long or Short
#2. Sidlines
#3. Varying position size (partial closing and re-entry)

B. Following line of least resistance.

C. Following Trend.

Note: Introduced position category #2 and #3 to replace holdiing counter positions (some also refer Counter Position as "hedging")

There is no change in the method, just added this new tactic.
The Thief of Wall Street
  • #232
  • Oct 18, 2012 1:31pm Oct 18, 2012 1:31pm
Cannot find the level where I had to close all trades, deleted st lines. It was near 1.3060. Closed all short postions, now taking Sidelines Position.
The Thief of Wall Street
  • #233
  • Oct 18, 2012 1:40pm Oct 18, 2012 1:40pm
Quoting Chicky
Cannot find the level where I had to close all trades, deleted st lines. It was near 1.3060. Closed all short postions, now taking Sidelines Position.
You would be thinking what a carzy guy I am. Makes a right prediction but when pa starts proving him right, changes his mind. But, its part of risk management and this time I am going to follow all my rules.
The Thief of Wall Street
  • #234
  • Oct 18, 2012 2:40pm Oct 18, 2012 2:40pm
Quoting Chicky
You would be thinking what a carzy guy I am. Makes a right prediction but when pa starts proving him right, changes his mind. But, its part of risk management and this time I am going to follow all my rules.
I closed my shorts and went long @ 3060, its a good area for a bounce

It's funny how they often make PA work in a way that divergence shows up near support levels (3060 is the breakout area for the move to 3140 as well as R2)

Curious, what leverage are you using to turn 10k into 1 million?

1% compounded every day for 2 years would achieve that goal

Also what is your strategy (what type of trades are you taking, are you adding to losers or using stops? etc)

Is this demo or live??
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Be hopeful in a winning position, and fearful in a losing position.
  • #235
  • Edited 4:08pm Oct 18, 2012 3:40pm | Edited 4:08pm
Quoting Rag2RichesFX
I closed my shorts and went long @ 3060, its a good area for a bounce

It's funny how they often make PA work in a way that divergence shows up near support levels (3060 is the breakout area for the move to 3140 as well as R2)

Curious, what leverage are you using to turn 10k into 1 million?

1% compounded every day for 2 years would achieve that goal

Also what is your strategy (what type of trades are you taking, are you adding to losers or using stops? etc)

Is this demo or live??
1. I did the same. Took a long scalp with tight stoploss. However, in addition to s/r, also considered time of the session. S/Rs normally work with the session time.

2. 50:1

3. Haven't set a profit target %. Compounding will be automatic.

4. Will be taking trades on very visible trend on 1H and above charts. Going with the trend and entries/exists based on HH,HL,LL,LH and H&S. Good chance of missing many big moves, but this is what it is.

5. Will be using sls but it will depend on the position size and pa pattern. No fixed number of pips or account percentage, but as metioned earlier 1/2% to 3% risk depending on number of tries it requires. For reasonably good set-ups 3% or even little more, but for 50:50 chance trades 1/2% to 1%. Minimum risk/reward (excluding scalps which will be rare) 1:1. Will start with 1:10 but settle on 1:1 or anything in between. If reward less than that, will let it hit sl.

6. This is demo, but a real account taking similar trades. Once achieve the target, will post real account explorer.
The Thief of Wall Street
  • #236
  • Oct 18, 2012 4:04pm Oct 18, 2012 4:04pm
Quoting Chicky
1. I did the same. Took a long scalp with tight stoploss. However, in addition to s/r, also considered time of the session. S/Rs normally work with the session time.

2. 50:1

3. Haven't set a profit target %. Compounding will be automatic.

4. Will be taking trades on very visible trends on 1H and above charts. Going with the trend and entries/exists based on HH,HL,LL,LH and H&S. Good chance of missing many trades, but this is what it is.

5. Will be using sls but it will depend on the position size and pa pattern. No fixed number of pips or...
The Trade Explorer at the top of each page of this thread provides complete information about the trades and the account. Every option is public, nothing is hidden............ except withdrawal on day one to bring the account balance from 100,000 to 10,000. If I dont do that, it distorts profit/loss percentages.
The Thief of Wall Street
  • #237
  • Oct 18, 2012 8:52pm Oct 18, 2012 8:52pm
Short with tight sl
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The Thief of Wall Street
  • #238
  • Oct 18, 2012 10:01pm Oct 18, 2012 10:01pm
hi Chicky,

i have an irrelevant question, since i believe your a nice person and genuine. If a person offer me their service to manage my account and will charge me a keeping fee of 1% and performance fee of 30% for a minimum of 30k caps... is it a good deal.

you see, i have been trading forex and futures but i'm a lousy guy who's full of greed and fear. I'm looking at options of investing instead.

any advise will be much appreciated.

regads,
TC
  • #239
  • Oct 18, 2012 10:06pm Oct 18, 2012 10:06pm
Took some money off and now at BE
The Thief of Wall Street
  • #240
  • Oct 18, 2012 10:16pm Oct 18, 2012 10:16pm
Quoting TrendCatcher
hi Chicky,

i have an irrelevant question, since i believe your a nice person and genuine. If a person offer me their service to manage my account and will charge me a keeping fee of 1% and performance fee of 30% for a minimum of 30k caps... is it a good deal.

you see, i have been trading forex and futures but i'm a lousy guy who's full of greed and fear. I'm looking at options of investing instead.

any advise will be much appreciated.

regads,
TC
It depends who this person is. There are many ways in which portfolio management could be manipulated.

Is it minimum or maximum?

I don't believe in any fixed management fee. Rate looks good.

Sending you a pm how you could be screwed if that person is not trust-worthy. Don't want to make these tactics public in the interest of all.
The Thief of Wall Street
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