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The Really Useless Thread

  • #120,241
  • Oct 31, 2012 11:38am Oct 31, 2012 11:38am
H4 close below 2957 is interesting.
  • #120,242
  • Oct 31, 2012 11:38am Oct 31, 2012 11:38am
Quoting Gleneagles
+48

expecting the daily low to be in place
nice going G

25 over here on the scalps - few more trades than that -- man do you ever have losers?
  • #120,243
  • Oct 31, 2012 11:42am Oct 31, 2012 11:42am
Quoting chazzle
nice going G

25 over here on the scalps - few more trades than that -- man do you ever have losers?
Was thinking the same thing. He use too. LOL. To be fair though, the dustbins are pretty awesome. They are trades only taken with trend, and for a small chunk which is pretty hard to miss, and more importantly, really add up.
  • #120,244
  • Oct 31, 2012 11:49am Oct 31, 2012 11:49am
Quoting chazzle
nice going G

25 over here on the scalps - few more trades than that -- man do you ever have losers?
i do have the odd loser but they are generally small

it is a relatively low-risk method as long as you are aware of the counter trend trades, you will win most of the trades

20-25 trades winning streaks are not unusual

edit: i take a lot less trades now compared to 2010/2011

less pips overall but better hitrate
" Never let the past hold the future to ransom "
  • #120,245
  • Oct 31, 2012 11:52am Oct 31, 2012 11:52am
Quoting Venice
Was thinking the same thing. He use too. LOL. To be fair though, the dustbins are pretty awesome. They are trades only taken with trend, and for a small chunk which is pretty hard to miss, and more importantly, really add up.
that's putting it mildly lol - and it's not just the adding up - it's the not taking away which is the truly awesome part. Profit factor pretty damn high by the looks ... one day , one day
  • #120,246
  • Oct 31, 2012 11:56am Oct 31, 2012 11:56am
here is another +12 "gift pips"

skipped this one because it has been a long haul today


3 beats down one beat up
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_17 Oct. 31 18.53.jpg Size: 60 KB
" Never let the past hold the future to ransom "
  • #120,247
  • Oct 31, 2012 11:56am Oct 31, 2012 11:56am
Quoting Gleneagles

it is a relatively low-risk method as long as you are aware of the counter trend trades, you will win most of the trades

20-25 trades winning streaks are not unusual

edit: i take a lot less trades now compared to 2010/2011

less pips overall but better hitrate
and by "aware" you mean - just don't take them? - and that's what I was getting at in the last post just now -- the hitrate - that's the one to truly crack - great stuff
  • #120,248
  • Oct 31, 2012 11:56am Oct 31, 2012 11:56am
Quoting Gleneagles
i do have the odd loser but they are generally small

it is a relatively low-risk method as long as you are aware of the counter trend trades, you will win most of the trades

20-25 trades winning streaks are not unusual

edit: i take a lot less trades now compared to 2010/2011

less pips overall but better hitrate
I'm pretty sure if I were too actually trade full time, just to keep myself sane, dustbins would be the method.

Price indicates direction, price retraces, buy/sell in direction of indication. In and out. I love it.

Not to mention, you don't have to set through the next phase of price indication, retrace, hope you don't get stopped out (or do).

This is what I do on the higher time frames for swinging, and it is oh so painful, knowing that with a high degree of certainty, price is going to come back close to my entry point (and or stop). I am torn really, because sometimes it seems so pointless to hold through the retrace... until those big hitter trades are closed out for several hundred pips.
  • #120,249
  • Oct 31, 2012 11:58am Oct 31, 2012 11:58am
.
those who can, do. those who cant, talk about those who can
  • #120,250
  • Oct 31, 2012 11:59am Oct 31, 2012 11:59am
Quoting chazzle
that's putting it mildly lol - and it's not just the adding up - it's the not taking away which is the truly awesome part. Profit factor pretty damn high by the looks ... one day , one day
the beauty lies in the hidden benefit

you can compound a consistent strategy even if it is only average in terms of pip count

within a very short period of time the actual pip count becomes almost secondary because of the compounding effect
" Never let the past hold the future to ransom "
  • #120,251
  • Oct 31, 2012 11:59am Oct 31, 2012 11:59am
Quoting chazzle
that's putting it mildly lol - and it's not just the adding up - it's the not taking away which is the truly awesome part. Profit factor pretty damn high by the looks ... one day , one day
LOL

My biggest problem is the draw downs on the daily. Sometimes 50-70 pips. I spend lets say a day or two scalping and making those pips, and if i am wrong on the daily, get taken out and reset the weeks work. Even though everything is still in the norm of my r/r numbers playing out...

Now granted, I know that because of my system, the next daily play I make is going to more than cover that loss by a factor of high multiples (usually targeting 200-500 pips in the swing), but I wonder if it's good to separate out scalping/swinging accounts?
  • #120,252
  • Oct 31, 2012 12:01pm Oct 31, 2012 12:01pm
Quoting chazzle
and by "aware" you mean - just don't take them? - and that's what I was getting at in the last post just now -- the hitrate - that's the one to truly crack - great stuff
you have to be aware of the dustbin patterns and beats (like example )

to time the countertrends
" Never let the past hold the future to ransom "
  • #120,253
  • Oct 31, 2012 12:03pm Oct 31, 2012 12:03pm
Quoting Gleneagles
you have to be aware of the dustbin patterns and beats (like example )

to time the countertrends
I've seen you say beat before, while I definitely understand it in terms of price movement... do you consider a beat +1/-1 based off of breaking into or out of a new zone based on the lines?
  • #120,254
  • Oct 31, 2012 12:04pm Oct 31, 2012 12:04pm
Quoting gatorinla
.
Hi
  • #120,255
  • Oct 31, 2012 12:05pm Oct 31, 2012 12:05pm
I am a supply/demand trader through and through, but an added twist of dustbins would just rock.
  • #120,256
  • Oct 31, 2012 12:08pm Oct 31, 2012 12:08pm
Quoting Gleneagles
the beauty lies in the hidden benefit

you can compound a consistent strategy even if it is only average in terms of pip count

within a very short period of time the actual pip count becomes almost secondary because of the compounding effect
that's the way i wanna go - I took less than half the amount of trades yesterday as today - less screen time , less stress -but profit to loss was 15x - today i haven't worked out the profit factor yet - but it's gonna be a good deal lower than that
  • #120,257
  • Oct 31, 2012 12:10pm Oct 31, 2012 12:10pm
Quoting Venice
H4 close below 2957 is interesting.
52 and 55 are levels. 59 yesterdays close.
those who can, do. those who cant, talk about those who can
  • #120,258
  • Oct 31, 2012 12:12pm Oct 31, 2012 12:12pm
Quoting Venice
Hi
net was f-ing up.. i wanted to c if i was alive
those who can, do. those who cant, talk about those who can
  • #120,259
  • Oct 31, 2012 12:14pm Oct 31, 2012 12:14pm
Quoting chazzle
that's the way i wanna go - I took less than half the amount of trades yesterday as today - less screen time , less stress -but profit to loss was 15x - today i haven't worked out the profit factor yet - but it's gonna be a good deal lower than that
the biggest mistake i made was not to use compounding a lot earlier

i started in 2009 and used pyramid compounding for 26 months

it is a conservative strategy basically compounding the profits at a higher rate than the " fund capital"

at the end of 26 months every $10 of "fund capital" was worth $437
" Never let the past hold the future to ransom "
  • #120,260
  • Oct 31, 2012 12:16pm Oct 31, 2012 12:16pm
Quoting gatorinla
net was f-ing up.. i wanted to c if i was alive
any damage due to the storm in your part of the woods?
" Never let the past hold the future to ransom "
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