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Make Money Everyday - A Guide to Short-Term Trading

  • #1,281
  • May 16, 2013 6:58am May 16, 2013 6:58am
Quoting Dr.Scalpall
{quote} IT Charts (Pro Realtime) supplied through a UK spread betting company. doc.
I've used prorealtime before they are pretty good. May I ask the name of the company that offers this package?
  • #1,282
  • May 16, 2013 10:20am May 16, 2013 10:20am
Haven't put up a chart in a while. This is today's PA on the EUR/YEN. Anyone making any money today??

Mongolian
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  • #1,283
  • May 16, 2013 12:11pm May 16, 2013 12:11pm
Quoting mongolian
Haven't put up a chart in a while. This is today's PA on the EUR/YEN. Anyone making any money today?? Mongolian {image}
how many hours do you sit in front of the screen ? i find it boring from time to time .

do you listen to music ,play at the pc games ,stand on your hands trying to cach mosquitos white the foots ,exc ....


any advice



sory for my english
Iam just A pips on the rode :nerd:
  • #1,284
  • May 16, 2013 1:14pm May 16, 2013 1:14pm
Quoting -er-
{quote} how many hours do you sit in front of the screen ? i find it boring from time to time . do you listen to music ,play at the pc games ,stand on your hands trying to cach mosquitos white the foots ,exc .... any advice sory for my english
Depends on the day. Some days it's a lot - some days not so much. I've done pretty much all of those except the mosquitoes!!
  • #1,285
  • May 17, 2013 10:47am May 17, 2013 10:47am
Quoting mongolian
Haven't put up a chart in a while. This is today's PA on the EUR/YEN. Anyone making any money today?? Mongolian {image}
Great example of price bouncing off levels. Nice +80 pips for that session.

Great trading M, thanks for the chart.
  • #1,286
  • May 18, 2013 1:33am May 18, 2013 1:33am
Quoting mongolian
{quote} No tick charts here. I have not been able to figure out how to make tick charts work on MT4. Closest thing I've used (and thanks to to enochben for the file) is a renko chart. I do miss the tick charts though - that is for sure. M
IG Markets (IG Index in the UK) have ticks, I use them but only 2 days of tick data.. Can you guys in the US use offshore brokers or is that idiotic law still in place?

Just saw Scalpel's post, IG use the IT Finance charts. Great charts.

I still run MT4 for my HTFs and RBs but trade off the tick charts through IG.

Have a good weekend everyone!
  • #1,287
  • May 21, 2013 3:32am May 21, 2013 3:32am
Re-reading Jesse Livermore's book - How to Trade in Stocks. First Chapter - The Challenge of Speculation. This stuff is so good - I had to put up it up here. He's talking about taking a position - his example starts on previous page - Stock goes from 25 to 30.... but what's important is the mindset he talks about.

Mongolian
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  • #1,288
  • May 21, 2013 3:38am May 21, 2013 3:38am
http://www.scribd.com/doc/15100790/J...940-OriginalEn

There's the link to the book. Read it!
  • #1,289
  • May 21, 2013 3:54am May 21, 2013 3:54am
Great thread! Thanks Mongolian!

Here are my trades from yesterday and today so far.
Had a 3 loser and 2 winners, 2 losers were because of too tight SL.

I'm using the 5 min time frame and I don't take touch trades.

I want to see how price reacts at the levels before i enter.
That means I'll miss out on some trades, just my preference.

Thinking short again at 2875 on the eurusd

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  • #1,290
  • May 21, 2013 8:36pm May 21, 2013 8:36pm
Quoting batata
Great thread! Thanks Mongolian! Here are my trades from yesterday and today so far. Had a 3 loser and 2 winners, 2 losers were because of too tight SL. I'm using the 5 min time frame and I don't take touch trades. I want to see how price reacts at the levels before i enter. That means I'll miss out on some trades, just my preference. Thinking short again at 2875 on the eurusd {image}
Good looking chart. 3 for 2 isn't terrible. It will get better the more you trade it. Even @ 3 for 2 - if the three losses were small enough - a trader could end up with a positive day. Keep the charts coming - would love to see how your trading progresses.

Mongolian
  • #1,291
  • May 23, 2013 7:47am May 23, 2013 7:47am
Nice trades on UJ just prior to major news.

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  • #1,292
  • May 23, 2013 11:58pm May 23, 2013 11:58pm
Some trades from yesterday, long only since the trend seemed up.
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  • #1,293
  • May 24, 2013 5:19am May 24, 2013 5:19am
Todays trades on eurusd, long only today. I skipped the long @2975 after the big move up, it looked like it tried to many times and would more likely test the lower level.
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  • #1,294
  • May 25, 2013 9:59pm May 25, 2013 9:59pm
Quoting Sakk
Nice trades on UJ just prior to major news. {image}

That is one good looking chart isn't it! PA is a thing of beauty.
  • #1,295
  • May 25, 2013 10:00pm May 25, 2013 10:00pm
Quoting batata
Todays trades on eurusd, long only today. I skipped the long @2975 after the big move up, it looked like it tried to many times and would more likely test the lower level. {image}

Good call - nice chart! Keep them coming.
  • #1,296
  • May 28, 2013 10:36am May 28, 2013 10:36am
Ok - I've been getting lots of PM's about how I trade - If I still trade this way, is it profitable, etc. Let me start and give a quick Top-down approach to how I see the markets. This first chart is a 4 hour chart on the EUR/USD pair. I have put the levels at every 250 pips. The yellow boxes I drew manually to highlight the levels. If I traded this time frame, these are where I would be putting my orders in.

Let me walk you through how I see this and how I would behave. I've numbered the spots on the chart where I see where I would put my orders in. Let's walk through it. First thing to really address is expectations. If I'm trading a 4 hour chart - I have higher expectations for my trades, meaning - using this chart - I'd be looking for 250 pips per trade. SL is something that is certainly personal and up to how much risk a trader is willing to take on. SO for this example - we'll say a 50 pip SL.

1. Buy @ 13000
2. Sell @ 1.3250
3. Buy @ 1.3000
4. Sell @ 1.3250 - Stopped out.
5. Buy @ 1.3250
5a. Sell @ 1.3500 - Stopped out
6. Buy @ 1.3500 - Stopped out
7. Sell @ 1.3500
8. Buy @ 1.3250 - Stopped out
9. Sell @ 1.3250
10.Buy @ 1.3000 - Stopped out
11. Sell @ 1.3000
12. Buy @ 1.2750
13. Sell @ 1.3000 - Stopped out
14. Buy @ 1.3000
15. Order placed to sell @ 1.3250 - not filled.
16. Buy @ 1.3000 - Stopped out
17. Sell @ 1.3000 - Potential trade still going.

Now: Were there trades that just plain old got stopped out? Yes. Were there trades that I marked as stopped out, there were profitable for a time before they turned south? Yes. Assuming that I didn't take any profits unless it was the full 250 - let's do the math. 9 trades @ 250 pips. 7 trades stopped out @ 50 pips. So net to me as a trader is 2250-350 - or 1900 pips since whenever this chart started - December. IF the current trade reaches 1.2750 - then it will be 2150 over past 6 months.

Next post I will put up will be a smaller time frame, smaller expectations, smaller SL's - but more trades. Is more trades better? That is up to you the trader. If you have the personality to spend some serious screen time - then maybe. If not - then start here. I'll let you chew on this for now.

Mongolian
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  • #1,297
  • May 29, 2013 3:13pm May 29, 2013 3:13pm
Hey, just a quick question. How would you have traded the top area when we stopped trending?

Thanks
Rexz
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  • #1,298
  • Jun 1, 2013 11:29pm Jun 1, 2013 11:29pm
Quoting mongolian
... This first chart is a 4 hour chart on the EUR/USD pair. I have put the levels at every 250 pips. ........ If I'm trading a 4 hour chart - I have higher expectations for my trades, meaning - using this chart - I'd be looking for 250 pips per trade. ......

Thanks mongolian. Very interesting way. Looking forward to lower time frame lower levels that you will be sharing.
  • #1,299
  • Jun 20, 2013 11:49am Jun 20, 2013 11:49am
Thought I might start posting here again.. Temporarily have a little bit more time on my hands (for the mean time at least) and I do dig this thread.

Charts are possible trades from this morning on EJ. Obviously trading is a pretty pink Hollywood rom com after the fact; execution is the tough part!

I'm going to make an effort to post charts on the days I trade, with the intention of keeping me honest and hopefully getting some discussion going again.

I enter trades at the levels or close to them, dependent on PA and recent SR.

EDIT - Oh and my tick charts lose all drawn lines etc every two days so I don't bother drawing the mid lines. I use a permanent cross hair and eyeball the areas.

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  • #1,300
  • Jun 21, 2013 7:09am Jun 21, 2013 7:09am
Quoting nhen
Thought I might start posting here again.. Temporarily have a little bit more time on my hands (for the mean time at least) and I do dig this thread. Charts are possible trades from this morning on EJ. Obviously trading is a pretty pink Hollywood rom com after the fact; execution is the tough part! I'm going to make an effort to post charts on the days I trade, with the intention of keeping me honest and hopefully getting some discussion going again. I enter trades at the levels or close to them, dependent on PA and recent SR. EDIT - Oh and my tick...
It's a nhen sighting!!! Sweet! Thanks for the charts my friend.
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