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Multiple Time Frame Stochastic trading using 1min charts

  • #1,481
  • Mar 22, 2014 10:50am Mar 22, 2014 10:50am
Quoting Islander
{quote} That is IMO a good way to trade - 10:1 gearing / leverage with simple compounding ......I use a similar idea, although somewhat more aggressively....
Hi Islander

Do you mind sharing your Money Management Strategy i.e what % risk of your account etc

I use 2 - 3 % risk on capital with a 15pip disaster stop.Always try to have a mental stop between 6-10 pips if I can depending on PA

Regards

Rooi
We miss 100% of the shots we don't take
  • #1,482
  • Mar 24, 2014 2:11am Mar 24, 2014 2:11am
PA is at my favorite "00" level. Game begins.
Love for all; Hatred for none.
  • #1,483
  • Mar 24, 2014 2:24am Mar 24, 2014 2:24am
Quoting Rooi
{quote} Hi Islander Do you mind sharing your Money Management Strategy i.e what % risk of your account etc I use 2 - 3 % risk on capital with a 15pip disaster stop.Always try to have a mental stop between 6-10 pips if I can depending on PA Regards Rooi
GM - some time ago I posted about another risk that many traders ignore.......remember these big companies.....Refco and MAN Financial, the biggest in the buisness and both went bust with millions of clients money, so I NEVER put all of my funds with just one broker, nor do I put all of my trading funds there....I keep around half in my own bank and use their gearing / leverage.

So I trade with ~ 30:1 to 50:1 gearing / leverage with similar stops to yours and if price moves back to cross the 25EMA I get out....
Trading Levels with WRBs
  • #1,484
  • Mar 24, 2014 2:39am Mar 24, 2014 2:39am
GM all

+3.6 and fighting the chop this morning.

Rooi
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We miss 100% of the shots we don't take
  • #1,485
  • Mar 24, 2014 2:44am Mar 24, 2014 2:44am
Quoting Islander
{quote} GM - some time ago I posted about another risk that many traders ignore.......remember these big companies.....Refco and MAN Financial, the biggest in the buisness and both went bust with millions of clients money, so I NEVER put all of my funds with just one broker, nor do I put all of my trading funds there....I keep around half in my own bank and use their gearing / leverage. So I trade with ~ 30:1 to 50:1 gearing / leverage with similar stops to yours and if price moves back to cross the 25EMA I get out....

I thought that how you went about it.

Thanks for the info


Rooi
We miss 100% of the shots we don't take
  • #1,486
  • Mar 24, 2014 2:52am Mar 24, 2014 2:52am
Quoting strada
Hi Rooi and all, just dropping by to say hello, hope you're well and still enjoying your trading, nice to see the pip gains being made here. @Islander, your paper charts take me back a bit. Don't know if you were around in the days when that was all we poor retail traders had because the prohibitive expense of charting programmes left us no option. So all plotting done by hand including the calcs for MA's, RSI, MACD, etc. Surprised we had time to determine entries and exits as well (which of course had to be done by phone)!! Then along came the...
LOL -early 90s.... paper and pencil ....that was why the Daily Pivots were used so much....no calculators, just simple maths....or a slide-rule! I still add up columns in my head for practice......it makes me sad to watch a shop girl using her till to work out what I owe for two items costing say €2.25 each....I've already left the money and walked out of the door....
Trading Levels with WRBs
  • #1,487
  • Mar 24, 2014 2:54am Mar 24, 2014 2:54am
Quoting Rooi
GM all +3.6 and fighting the chop this morning. Rooi {image}

Tell me - I'm waiting for LO....
Trading Levels with WRBs
  • #1,488
  • Mar 24, 2014 3:05am Mar 24, 2014 3:05am
Quoting Rooi
+3.6 and fighting the chop this morning. {image}
Will be back for NY

A bit thin with some heavy news IMO nothing for me for now

GL

Rooi
We miss 100% of the shots we don't take
  • #1,489
  • Mar 24, 2014 3:20am Mar 24, 2014 3:20am
Quoting Islander
{quote} Tell me - I'm waiting for LO....
well, just before LO....GU and UJ up since mid FH and I waited for the next BB pinch....

Good French data spiked EU up and CHF down....
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Trading Levels with WRBs
  • #1,490
  • Mar 24, 2014 4:10am Mar 24, 2014 4:10am
Quoting aahmad29
PA is at my favorite "00" level. Game begins.
Risky trade but in +ve. +10 Pips
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Love for all; Hatred for none.
  • #1,491
  • Mar 24, 2014 4:23am Mar 24, 2014 4:23am
My last trade again i made mistake. I was not expecting PA to go up so fast so when it came down, i closed at +10 otherwise i could get 20 Pips.
Love for all; Hatred for none.
  • #1,492
  • Mar 24, 2014 4:48am Mar 24, 2014 4:48am
Quoting aahmad29
My last trade again i made mistake. I was not expecting PA to go up so fast so when it came down, i closed at +10 otherwise i could get 20 Pips.
You did not make a mistake. You made your decision based on what you saw at the time. Hind site is 20/20. A mistake would be trading against your plan and being Undisciplined. Move on....NEXT.
  • #1,493
  • Mar 24, 2014 5:18am Mar 24, 2014 5:18am
Quoting Rooi
GM all +3.6 and fighting the chop this morning. Rooi {image}
Good morning fellow traders. This morning seemed to be about perfectly good set ups ruined by the vagaries of price action (or is it just me?)

I had a mental expectation of EU and GU shorts this morning which I failed to park in a small black box and ignore. UJ to my mind was too upwardly mobile. There were risks in all set ups I saw this morning. I took EU and GU shorts after news but dumped when they failed to deliver more than 10 pips and retraced. Oh well wait some more for that perfect set up....

Not much of a break before NYO so maybe it will all happen then...

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Revoli
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #1,494
  • Mar 24, 2014 5:35am Mar 24, 2014 5:35am
Quoting revoli
{quote} Good morning fellow traders. This morning seemed to be about perfectly good set ups ruined by the vagaries of price action (or is it just me?) {image} Revoli

Hi

Yes I do feel the same.A bit erratic this morning for me.

Im sure other traders did bank some pips because the "swings" were big.

Like you said....Plenty of time left in the week to catch some of the "safer" setups

All the best

Rooi
We miss 100% of the shots we don't take
  • #1,495
  • Mar 24, 2014 11:24am Mar 24, 2014 11:24am
Quoting panamamike
{quote} You did not make a mistake. You made your decision based on what you saw at the time. Hind site is 20/20. A mistake would be trading against your plan and being Undisciplined. Move on....NEXT.
Yes, i just had the feeling that i got some points in Forex "video game" but couldn't reach finish line but on the other side again my 50 Pips SL saved me because if i set 20 or 25 Pips SL then for sure SL was hit by PA.

Now i just think forex as video game where you have battle field and you have to reach your targets.
Love for all; Hatred for none.
  • #1,496
  • Mar 24, 2014 12:40pm Mar 24, 2014 12:40pm
Another victory in the battle field. My video game controller is working fine . Again level "00" helped me.

+26 Pips

Total so far for this week = 36 Pips

Weekly target =100 Pips
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Love for all; Hatred for none.
  • #1,497
  • Mar 24, 2014 12:59pm Mar 24, 2014 12:59pm
Resistance at Last swing breaks and now i am looking for short position and will make decision when PA retrace. Only thing is that i have to catch the starting point of retracing.
Love for all; Hatred for none.
  • #1,498
  • Edited 1:31pm Mar 24, 2014 1:08pm | Edited 1:31pm
For me new levels are creating and not taking any position. Level is now at 1.3863. Lets see what happen next.

I am letting army of buyers to come to my sellers army area then there will be battle.
Love for all; Hatred for none.
  • #1,499
  • Mar 24, 2014 11:51pm Mar 24, 2014 11:51pm
+30 and -16, two trades. I was able to recover loss and close in net profit +14


Total for the Week so far = 50 Pips

Weekly target = 100 Pips
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Love for all; Hatred for none.
  • #1,500
  • Mar 25, 2014 2:44am Mar 25, 2014 2:44am
-6
+0.4
+12.5
=+6.9

Miss read it a bit this morning.

Lets see if or what LO can give

Rooi
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We miss 100% of the shots we don't take
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