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Is selling low/buying high possible?

  • #41
  • Dec 14, 2012 5:59pm Dec 14, 2012 5:59pm
Quoting Kanzler
Any consistent profit can be leveraged into a fortune, the exact quantity isn't very important. I'd be happy making 1 pip a month if I knew I could expect 1 pip a month average per year, because I could scale that up to a large number of lots and not move the market any at all with the volume forex deals with. As for trade management once you're in, that's something entirely different to tackle. I wouldn't be testing this method if I thought I was going to get stopped out every time; realistic expectations and trade management strategies are just...

Dunno, I had a nice slowly profitable method which given the fact I'm pretty skint, for the time involved doing it I projected 4 years of hard slog to get to a 10K account and even then couldn't make a full time wage out of it.

I need a tight SL for max Lot size, great R:R ratio and a great win rate or it's just never going to be worth much to me, got to love making it even harder for yourself hey.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #42
  • Dec 14, 2012 6:05pm Dec 14, 2012 6:05pm
Quoting Kanzler
I don't use them on their own, I use them as confirmation that a level I identified is still potent. I've done my own check on price action setups through past charts and I know out of context they're about worthless and fail all the time. If you can't rely on price action to tell you what's going on though, at least in the context of support and resistance, there's not much of a point in trading.

It's not like they broadcast the next day via HLOC data, slide the time around a few hours and totally different picture although the HL part will still give you the same trend.

Sometimes it's about hitting a level, even with a 30% chance it'll hold, if you can get in with a 40sl with a realistic chance of making 200 then it's all good.



How long have you been at this ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #43
  • Dec 14, 2012 6:07pm Dec 14, 2012 6:07pm
Quoting Turveyd
Dunno, I had a nice slowly profitable method which given the fact I'm pretty skint, for the time involved doing it I projected 4 years of hard slog to get to a 10K account and even then couldn't make a full time wage out of it.

I need a tight SL for max Lot size, great R:R ratio and a great win rate or it's just never going to be worth much to me, got to love making it even harder for yourself hey.
You have to look at it in terms of percent....you won't get anywhere fast starting out with $1k, better to just work a conventional job, test things out and verify that they work, and then use your saved money as capital once you verify it is in fact consistent. But if you expect to turn $100 into $10,000 fast you're looking for a super method that has unrealistic, martingale-like returns. The market isn't that inefficient.

Quoting Turveyd
It's not like they broadcast the next day via HLOC data, slide the time around a few hours and totally different picture although the HL part will still give you the same trend.

Sometimes it's about hitting a level, even with a 30% chance it'll hold, if you can get in with a 40sl with a realistic chance of making 200 then it's all good.



How long have you been at this ??
I agree. And I've only been into real trading for a year and a half now...really only have about 8 months of experience trading though as I got mad and gave up after my holy grail / automated phase. Before that I'd been speculating bitcoin and had a nice lesson in greed when that market came crashing down mid-summer. Short amount of time but I've learned a lot; my personality is somewhat obsessive.
  • #44
  • Dec 14, 2012 6:14pm Dec 14, 2012 6:14pm
Quoting Kanzler
You have to look at it in terms of percent....you won't get anywhere fast starting out with $1k, better to just work a conventional job, test things out and verify that they work, and then use your saved money as capital once you verify it is in fact consistent. But if you expect to turn $100 into $10,000 fast you're looking for a super method that has unrealistic, martingale-like returns. The market isn't that inefficient.
Forget Many Many trades!!

M1 trading does open up the possibility of turning $100 into 10K in a few months in the same way that it opens up the possibility of turning 10K into $100, it does work both ways in the wrong hands BAD but hey!!

Hard to turn D1 trading into wage without 100K+, your looking at slow growth over many years which if your ownly spending 10mins per day is fine, 6 - 8hours per day when free here which is the difference.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #45
  • Dec 14, 2012 6:22pm Dec 14, 2012 6:22pm
Quoting Kanzler



I agree. And I've only been into real trading for a year and a half now...really only have about 8 months of experience trading though as I got mad and gave up after my holy grail / automated phase. Before that I'd been speculating bitcoin and had a nice lesson in greed when that market came crashing down mid-summer. Short amount of time but I've learned a lot; my personality is somewhat obsessive.

7 - 8 years, but some years I had like 2 trades, been hitting it pretty hard since July area I guess this year, work / life gets in the way more than I'd like it to so taking longer than planned to hit wage level but it's getting there, paper trades this week suggest there BAD week last week ( SL hits to the pip before reversing, news gapping me 3x's expected loss ) so paper and rejigged a few things this week.

I want, pretty much every up and down move on the market, not from the top or bottom but 80% of them, move starts IN, monitor, keeps going hold till it's time to flip sides almost.

Obsessive helps in this game, Objective is a must to or you'll just waste time doing the same thing for ever.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #46
  • Dec 14, 2012 6:23pm Dec 14, 2012 6:23pm
Quoting Turveyd
Forget Many Many trades!!

M1 trading does open up the possibility of turning $100 into 10K in a few months in the same way that it opens up the possibility of turning 10K into $100, it does work both ways in the wrong hands BAD but hey!!

Hard to turn D1 trading into wage without 100K+, your looking at slow growth over many years which if your ownly spending 10mins per day is fine, 6 - 8hours per day when free here which is the difference.
Fewer trades, less overhead spread costs. I don't find M1/M5 or even hourly to be reliable enough to bother with. You end up spending all day long staring at your screen stressing out for a losing prospect. Spread often eats up at least half or your actual risk to begin with....you have to be something exceptional to even do consistent B/E on m1.

D1 may not make you solely livable wage immediately (and yes you have to reduce lots to manage risk) but I believe patience is rewarded.....and gradually you can reduce your hours if you want to take some profit as living expenses, although I'd rather work at the same time and just add to my nest egg. That said I'm in my early 20s and I can afford to bide my time.
  • #47
  • Dec 14, 2012 6:34pm Dec 14, 2012 6:34pm
Quoting Kanzler
Fewer trades, less overhead spread costs. I don't find M1/M5 or even hourly to be reliable enough to bother with. You end up spending all day long staring at your screen stressing out for a losing prospect. Spread often eats up at least half or your actual risk to begin with....you have to be something exceptional to even do consistent B/E on m1.

D1 may not make you solely livable wage immediately (and yes you have to reduce lots to manage risk) but I believe patience is rewarded.....and gradually you can reduce your hours if you want to take some...

It's about what you've trained yourself to do, D1 is to slow for me, I can be at work and trade via my Samsung Note anyway.

Self employeed, business is DEAD as, on emergency funds currently, Zero chance of getting a Just Over Broke, so I've got spare time in the day and 2 - 3 months tops to get this to wage level, 1/2 wage level by the end of Jan would HELP!!

Wasn't around today, I'd of made bugger all on DAX, but if still trading GU at 6pm GMT for that up move likely 20% today.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #48
  • Dec 14, 2012 6:37pm Dec 14, 2012 6:37pm
Quoting Turveyd
It's about what you've trained yourself to do, D1 is to slow for me, I can be at work and trade via my Samsung Note anyway.

Self employeed, business is DEAD as, on emergency funds currently, Zero chance of getting a Just Over Broke, so I've got spare time in the day and 2 - 3 months tops to get this to wage level, 1/2 wage level by the end of Jan would HELP!!

Wasn't around today, I'd of made bugger all on DAX, but if still trading GU at 6pm GMT for that up move likely 20% today.
Ouch.....I can see your motivation.
  • #49
  • Dec 14, 2012 6:43pm Dec 14, 2012 6:43pm
Quoting Kanzler
Ouch.....I can see your motivation.

Make it work, don't lose what I've got left ( not much ) or starve and lose the house is a great motivator.

It'll get there, Just In Time and not a moment before, just how my life goes.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #50
  • Dec 14, 2012 6:45pm Dec 14, 2012 6:45pm
Quoting Turveyd
Make it work, don't lose what I've got left ( not much ) or starve and lose the house is a great motivator.

It'll get there, Just In Time and not a moment before, just how my life goes.
When you do so feel free to drop me a message. If I become consistently profitable before and have good evidence for it I'll be sure to do the same.
  • #51
  • Dec 14, 2012 6:48pm Dec 14, 2012 6:48pm
Quoting Kanzler
When you do so feel free to drop me a message. If I become consistently profitable before and have good evidence for it I'll be sure to do the same.
Will do, ever changing method + Rants are in my journal
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #52
  • Dec 14, 2012 7:30pm Dec 14, 2012 7:30pm
......... buying/low .. selling/high ......... been doing that months ago ... guess what ... made 20% profit in 3 days of the week ... baaaaaaaaam ... all sudden money gone the next few days ... continuesly every week ... all weeks ... how ... simple selling high and buying low .... then i tried to opposit that by selling low and buying high ... guess what ... money ... itself ... will ... start ... following you ......................how to sell/low ... buy/high ..............its up to you ... just keep looking at the chart and you will notice yourself ...
let the chart to be your chauffeur ... -Forexmnstr-
  • #53
  • Dec 14, 2012 9:01pm Dec 14, 2012 9:01pm
Quoting 4exNinja
Possible yes...clever, no...in fact, it's really really stupid. I think you are talking the contrarian strategy but you are misunderstanding it.

Contrarians look at it as an opportunity to get in a trade at a cheaper price. So they will buy while everyone is selling because they expect price to shoot back up above the point where they buy. This takes A LOT of practice and I couldn't name many traders that are effective at this strategy.

In Schwager's "Hedge Fund Market Wizards" there's exactly one single trader who's good at it...which...
Can't believe that some of the posts actually egg the poster to do it..come on, guys, you know that if he does what the thread title says, he's going to end up with egg on his face..never mind the breakout option. One weird thread and a few interesting replies,
  • #54
  • Jan 4, 2013 6:08am Jan 4, 2013 6:08am
Quoting Turveyd
Correct no BS predictions and picking entry points, market is going up find a place to enter and go with it, trading is as simple as that, if you can let it be.
Yes that's right. It is a numbers game.

Find a method that has a statistical edge.

Automate it.

Let it run 24/7.

Monitor results for changes in the trading environment
  • #55
  • Jan 4, 2013 6:18am Jan 4, 2013 6:18am
Quoting Alanamc
Totally agree with you mate. It really hard to identify & pick tops or bottoms when we have high influential news like election, wars, disasters, economical matters, etc.
It is not hard to identify and pick tops at all.

Look for previous highs and lows.

A couple of pips above (highs) or below (lows) is your entry point.

It is not foolproof and it is not 100% but it is a trading method.

If you don't like BreakOuts, another method (Trading the Range) is to sell at the previous high or buy at the previous lows.

By the way, you should disregard the high influential news like election, wars, disasters, economical matters, etc that you mentioned. The probability of you calling the outcomes correctly is probably 50% at best. It has far too many subjective variables.
  • #56
  • Jan 4, 2013 1:37pm Jan 4, 2013 1:37pm
Quoting johnbridgefx
Yes that's right. It is a numbers game.

Find a method that has a statistical edge.

Automate it.

Let it run 24/7.

Monitor results for changes in the trading environment
Automating anything worthwhile is a lot harder than you probably think it is. Most of the good methodologies of trading, particularly using price action and levels for a pullback, are best done with the human eye, as our minds can quickly put together some of the background factors that play a part in determining whether or not a setup is ideal. For example, the volatility of a pair, the price action around the bar you're watching, and signs of weakness in a trend. Because it is so subjective, to code anything that would even decently mimic this would be quite lengthy and subjective in itself. Until you can master something manually and create rules for it based off of your manual trading, forget automation. I recently wrote a program in C/C++ that searches for pivot levels in a chart, and while I was moderately successful, I ended up having to put in different variables for each currency pair for certain tolerances based on the characteristics of each market.
  • #57
  • Jan 5, 2013 5:38am Jan 5, 2013 5:38am
it is profitable ... not always though ... but i have placed orders to sell yen buy dollar ( USD/JPY ) ... when the price was 82.00 ... my orders was ... 83.00 , 83.50 , 84.00 , 84.50 , 85.00 , 85.50 , ........... 88.50 all have take profit @89.00 more than half of these orders are filled and are actually making money alot ...
Attached Image (click to enlarge)
Click to Enlarge Name: yen.gif Size: 36 KB
let the chart to be your chauffeur ... -Forexmnstr-
  • #58
  • Jan 5, 2013 6:41am Jan 5, 2013 6:41am
Quoting Kanzler
Automating anything worthwhile is a lot harder than you probably think it is. Most of the good methodologies of trading, particularly using price action and levels for a pullback, are best done with the human eye, as our minds can quickly put together some of the background factors that play a part in determining whether or not a setup is ideal. For example, the volatility of a pair, the price action around the bar you're watching, and signs of weakness in a trend. Because it is so subjective, to code anything that would even decently mimic this...

I spent 6months back when it was MT3, getting ever more complicated with the system, I quit and vowed never to try again you can't teach a computer to think.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59
  • Last Post: Feb 10, 2013 6:28am Feb 10, 2013 6:28am
Quoting Turveyd
I spent 6months back when it was MT3, getting ever more complicated with the system, I quit and vowed never to try again you can't teach a computer to think.
I agree with you. I done it before, use automation but instead of gaining, i ended up losing so i quit. Never be back in automation
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