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  • #801,881
  • May 27, 2013 10:35am May 27, 2013 10:35am
Quoting chazzle
markets are shit what is it a bank holiday or something?
Memorial day in US
New voice message: Why are you calling me? If I need you, I'll call you!
  • #801,882
  • May 27, 2013 10:36am May 27, 2013 10:36am
Quoting KillerWhale
{quote} Memorial day in US
Everything off, including stock market
New voice message: Why are you calling me? If I need you, I'll call you!
  • #801,883
  • May 27, 2013 11:01am May 27, 2013 11:01am
Quoting suthmo
{quote}! {image}
I ask again - have you tried the concept? do you think that last drops in pound or oz need it? it is all about time in the market and well capitalised account,
Both very rare in the retail market.
For your info it is about riding main wave once, twice a year.
Scalping community does not understand that I am afraid.

" I wait for something to be so cheap that I can come to corner of my room and just pick it up" - Jim Rogers answer for how does he invest.

Attached Image (click to enlarge)
Click to Enlarge Name: euro dollar 80tp no sl once a day.gif Size: 8 KB


Case closed on my end.
swing it!
  • #801,884
  • May 27, 2013 11:02am May 27, 2013 11:02am
I'm with KillerWhale on this one.

If any follow Boardwalk Empire, a character Arnold Rothstein gave an insightful comment.

"I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because there is simply no play. So I wait, plan, marshal my resources, and when I finally see an opportunity and there is a bet to make... I bet it all."

Can't say I totally agree, but I like the edginess of waiting things out which is not a bad thing.
Taigen Profit This Month: na
  • #801,885
  • May 27, 2013 11:10am May 27, 2013 11:10am
Quoting Larseg
{quote} There is not one thing that works better than the other, it all changes over time.... if you follow a trading rule for a long time you will loose...The only thing that makes me money consistently (I think) is that I trade rarely, and that I am diversified... Traders think that they "know" where the price is going..... I can tell you all that no one knows sh!t about whats happening next (consistently)... However, trading with 1M/5M can save you some money initiating a trade sometimes but over time it won't, so it doesnt realy matter as...
it's about adapting to the volatility, patterns repeat time after time..

proper money management is the key, it's not about knowing where the price is going, it's about stacking the odds in your favor and wait for the best risk reward..
Patience is a virtue...
  • #801,886
  • May 27, 2013 11:21am May 27, 2013 11:21am
Quoting tomspin
{quote} I ask again - have you tried the concept? do you think that last drops in pound or oz need it? it is all about time in the market and well capitalised account,Both very rare in the retail market.For your info it is about riding main wave once, twice a year.Scalping community does not understand that I am afraid. " I wait for something to be so cheap that I can come to corner of my room and just pick it up" - Jim Rogers answer for how does he invest. {image} Case closed on my end.
And they won't understand, don't even try ... have you tried scaling IN when the trend confirms and gets on going ?!
"It's the Margin, Stupid."
  • #801,887
  • May 27, 2013 11:32am May 27, 2013 11:32am
Quoting Vachus
{quote} And they won't understand, don't even try ... have you tried scaling IN when the trend confirms and gets on going ?!
It is all about scalling in mate, above "crazy" straight line equity curve was done during backtest from feb till april this year. One position per day 80pips TP no SL, and trailing stop for 30 points, Got many results and slowing down trend will always give you lost positions no doubt about it however that is compensated by previous entries.
As I said the key is to identify when trend starts and finish and have sufficiently funded accound and well calculated MM.
It is not for everybody,
swing it!
  • #801,888
  • May 27, 2013 11:42am May 27, 2013 11:42am
Quoting flam
{quote} so last week's low must be lower than 2 weeks ago? on the monthly chart the higher low from july 2012? not too sure i'm even right on the terms...

I don't understand what your asking???
  • #801,889
  • May 27, 2013 11:44am May 27, 2013 11:44am
Quoting KillerWhale
{quote} Really?

No Stop loss is a loser's game ... sorry but that's why 95% of people lose and 5% make profit and some go onto be manage money and funds and some go on to be legends
  • #801,890
  • May 27, 2013 11:45am May 27, 2013 11:45am
Quoting tomspin
{quote} It is all about scalling in mate, above "crazy" straight line equity curve was done during backtest from feb till april this year. One position per day 80pips TP no SL, and trailing stop for 30 points, Got many results and slowing down trend will always give you lost positions no doubt about it however that is compensated by previous entries.As I said the key is to identify when trend starts and finish and have sufficiently funded accound and well calculated MM.It is not for everybody,

I scale in if I've missed the initial entry but also scale in to add to my entry although I do have a stop on everything
  • #801,891
  • May 27, 2013 12:10pm May 27, 2013 12:10pm
Quoting tomspin
{quote} It is all about scalling in mate, above "crazy" straight line equity curve was done during backtest from feb till april this year. One position per day 80pips TP no SL, and trailing stop for 30 points, Got many results and slowing down trend will always give you lost positions no doubt about it however that is compensated by previous entries.As I said the key is to identify when trend starts and finish and have sufficiently funded accound and well calculated MM.It is not for everybody,
Its a bit dangerous , but amazingly rewarding ... I'm trying " Scale in " & holding the position !
"It's the Margin, Stupid."
  • #801,892
  • May 27, 2013 12:37pm May 27, 2013 12:37pm
Quoting Vachus
{quote} Its a bit dangerous , but amazingly rewarding ... I'm trying " Scale in " & holding the position !

Scaling in is not dangerous... you can scale in intraday or longer term as long as you understand the flips etc... intraday is pretty easy to scale in and your risk should be no more than 20 pips which is a normal trade... don't understand why you think scaling in is dangerous... I am planning on lots of scales in when we hit 1.2855/41 I will look to scale in on the retrace at 129.05 to 1.2974 I will add to position.. I will probably short more positions back.... I will short the 1.2930 area and look to add to the position (scale in at 1.2990 and so on till we get to 1.3070 area... although I may take a large scale off at 1.3015 as expect it to fall back to 1.2945 from there but I will eb shorting that and adding to it as well although my stops are tight and no more than 20 pips and moving up behind the points I expect to hold etc.. I will do the same on the shorts as well if we get tomorrow off Asia and Pre London to 1.2988 area I will short and look to add to the shorts as expecting 1.2855... so not understanding why you think its dangerous, its only dangerous if you don't understand where your enemy is and which is likely to take out your positions
  • #801,893
  • May 27, 2013 12:54pm May 27, 2013 12:54pm
Quoting RussJ
{quote} Scaling in is not dangerous... you can scale in intraday or longer term as long as you understand the flips etc... intraday is pretty easy to scale in and your risk should be no more than 20 pips which is a normal trade... don't understand why you think scaling in is dangerous... I am planning on lots of scales in when we hit 1.2855/41 I will look to scale in on the retrace at 129.05 to 1.2974 I will add to position.. I will probably short more positions back.... I will short the 1.2930 area and look to add to the position (scale in at 1.2990...
Scaling in is more dangerous then you actually think , because you assume that price will move from A to B to C to d to tp. It works only in trending markets and heavy liquidity.I assume that you plan to hold the position not closing the position and re-entering ( This is not scaling in , this is scalping ) It also require time to pass by to confirm buyers and holding a position in green and be patient ... Also, its a technique for long term trading and not only letting profits run , its putting this profit at risk for more profits !

So, for time to time you will end up losing the profits you made on a successful entry because of a news or just intra day fluctuate collecting your SLs
"It's the Margin, Stupid."
  • #801,894
  • May 27, 2013 1:06pm May 27, 2013 1:06pm
Quoting KillerWhale
{quote} Can't you buy fish from your forex profits?
i trade forex so i can fish, not to buy fish
those who can, do. those who cant, talk about those who can
  • #801,895
  • May 27, 2013 1:20pm May 27, 2013 1:20pm
Quoting gatorinla
{quote}i trade forex so i can fish, not to buy fish

and how was the fishing ...
will no longer go fishing some time ....
has been strong wind ...
  • #801,896
  • May 27, 2013 1:20pm May 27, 2013 1:20pm
Quoting Vachus
{quote} Scaling in is more dangerous then you actually think , because you assume that price will move from A to B to C to d to tp. It works only in trending markets and heavy liquidity.I assume that you plan to hold the position not closing the position and re-entering ( This is not scaling in , this is scalping ) It also require time to pass by to confirm buyers and holding a position in green and be patient ... Also, its a technique for long term trading and not only letting profits run , its putting this profit at risk for more profits ! So,...

What I do for example.. is buy 2m at 1.2855 Stop will be 1.2825 say but may be tighter but that's below more support but expecting 1.2855/41 to hold.. and not go lower but do see 1.2838 area as well.. i ...... I will sell then 3.5M at 1.2905 creating a 1.5m Surplus Short, I will exit the Short at 1.2874 and Buy another 2m long.. moving my Stop loss on new position to 1.2865/60 and moving my other long to break even..... I will then sell 6M at 1.230 area tight stop again targeting 1.2888 where I will exit and possible consider a long... I may not take that long as too close to other entry etc... but you can see where I am going with surpluses etc... I make long term plans where it is going but also each swing etc on lower time frames, I pyramind... and only the ones that can be taken out do I exit... For example.... The retrace to 1.2933/40 I would consider exiriting of the 1.3015 short but as I have lower entries and will be scaling at 1.3015 I can hold it and merge the position giving me a lower low than where it needs to be...

the other option I have done in the past is scale.. for example take the 1.2855 long... scale 50% at 1.29 and re enter at 1.2874 but I like hedging with a surplus more... but I am all about taking some profits at certain stages and pyraminding...

For me 1.2855 takes us to 1.3070 but I see 1.3015 taking us back to 1.3045 so I will scale 50% there maybe 70%.... but 50% is more likely and the other 20% at 1.30-70 then the rest will run higher highs... that's
  • #801,897
  • May 27, 2013 1:21pm May 27, 2013 1:21pm
Quoting gatorinla
{quote}i would like the eu to close an hour above 2921.5. the the following h to close below 2902.8.... that would help set up 2832. perfectly
beware of these,, 1h and 4h close in 40m
those who can, do. those who cant, talk about those who can
  • #801,898
  • May 27, 2013 1:22pm May 27, 2013 1:22pm
nap time
those who can, do. those who cant, talk about those who can
  • #801,899
  • May 27, 2013 1:31pm May 27, 2013 1:31pm
Quoting gatorinla
{quote}i trade forex so i can fish, not to buy fish
Deep

Real deep
What is any ocean but a multitude of drops?
  • #801,900
  • May 27, 2013 1:45pm May 27, 2013 1:45pm
Quoting gatorinla
{quote}i trade forex so i can fish, not to buy fish
Give a man a fish he eats for a day.
.........................teach him how to fish,he drinks the whole weekend.
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