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Consequence Pilot Level Trading

  • #341
  • Sep 16, 2014 7:30am Sep 16, 2014 7:30am
Quoting Matts Micro
{quote} Yeps fully aware of this cheers mate, your 1 pip of slippage is a perfect example Sorry just re-read what I wrote and noticed I didn't mention the accounts I intend to use are live accounts. I once tried a scalping EA that made a million within 2 years from 10k. The strat was perfect and the trades were legit. The only prob I had when I moved to a live account was the slippage and it failed bad. I still want to use it as it still works... I am tempted to retry since mt4 build 600 introduction as the execution time is decreased....
don't want to sound negative Matt... but EA's simply for various reasons won't work..

I have spend thousand working with some very clever programers to build a EA for me so i did not have to work as much and in the end it did not work... besides of a great system there are many other factors. I had my guys to watch this 24/5 with expensive vps tagged on and etc,..

it simply did not work to my satisfaction.. which i always believed that EA wont work, but as i reach in my upper 30's I did not wanted to work as much so decided to give a chance to a wishful thoughts with slim chance that might work. it did not.

Anyhow that's my experience from an expensive and intense work at it.
Passion, Persist, Patience, Protect
  • #342
  • Sep 16, 2014 7:40am Sep 16, 2014 7:40am
Quoting FXEmpire
{quote} don't want to sound negative Matt... but EA's simply for various reasons won't work.. I have spend thousand working with some very clever programers to build a EA for me so i did not have to work as much and in the end it did not work... besides of a great system there are many other factors. I had my guys to watch this 24/5 with expensive vps tagged on and etc,.. it simply did not work to my satisfaction.. which i always believed that EA wont work, but as i reach in my upper 30's I did not wanted to work as much so decided to give a chance...
Nah I'm with you on this one mate. I went through the EA stage about 3-4 years ago and I didn't find one that would trade to expectations. The one I am referring to however had a good strat and if it had a connection like HFT's it may have a chance. I am past that stage however and now only trade manually.

Dam demo platform is frozen as I watch my live EU drop hard..... Still open....

Edit: out -5.5 ....I think I'll just switch to a live account from here as they don't freeze like the demo accounts do
As the lights go by so too do the shadows move
  • #343
  • Edited 8:29am Sep 16, 2014 7:56am | Edited 8:29am
Guys please ignore my last long trade as it was during ppi news where i completely forgot about and took action on it, when it dropped on me so fast i realized.. oopsssss... could have ruined the whole day.. luckily it came back to EL and i close it for -1...
my damn news alarm indicator did not go off, which was part of the problem... so got to check that out.
Passion, Persist, Patience, Protect
  • #344
  • Edited 8:33am Sep 16, 2014 8:17am | Edited 8:33am
short trade out for -1.. this had a good chance going to +2 but just couldn't break the DO just yet.. so give it try the next time.. after this ppi and nys open on the edge price is some what yo yo-ing..

as long as you play cold defense.. you can take a crack at a lot of opportunities and walk away Scot-free
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Passion, Persist, Patience, Protect
  • #345
  • Edited 9:12am Sep 16, 2014 8:59am | Edited 9:12am
Looks to be a constipated NYS session, lol...

Well I got my glass of Cabernet with my EL and PO's placed ready to give the last battle of the day...
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Passion, Persist, Patience, Protect
  • #346
  • Sep 16, 2014 10:19am Sep 16, 2014 10:19am
Hope ...my defense mode work..... just didn't expect the range was lower then yesterday range ( only 45 pips vs 64 pips).

With Great System + Money Management Plan + a little S/R support might be double impact profit

if move down will close around -10...and enought for today. This kind of move killing for both scalp buy or short..
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While knowledge speak up, the wisdom listen down
  • #347
  • Sep 16, 2014 11:04am Sep 16, 2014 11:04am
Quoting sam30
Hope ...my defense mode work..... just didn't expect the range was lower then yesterday range ( only 45 pips vs 64 pips). With Great System + Money Management Plan + a little S/R support might be double impact profit if move down will close around -10...and enought for today. This kind of move killing for both scalp buy or short.. {image}
just close it..Thanks God, you are the Gread.
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While knowledge speak up, the wisdom listen down
  • #348
  • Sep 16, 2014 12:01pm Sep 16, 2014 12:01pm
i hv best learning today...in my previous trade i could add lot size buy or more greed since i hope that moves but i strick to the rule -FIFO ( the point is i will not let my emotion lead my decision).....i hv experiences enough in such conditions...

btw, in big picture...this week could be very interesting...price will much trickie around 13000 level.

anyhow, my intention is just sharing each other since -not less not more. tq

i am out
While knowledge speak up, the wisdom listen down
  • #349
  • Sep 16, 2014 12:05pm Sep 16, 2014 12:05pm
I did not expect this bs move... something must have leaked about fed meeting..
anyways it cost me big as one trade got away from me.. unbelievable.
great day turned to disaster.

see you tomorrow.
Passion, Persist, Patience, Protect
  • #350
  • Sep 16, 2014 12:07pm Sep 16, 2014 12:07pm
Quoting sam30
i hv best learning today...in my previous trade i could add lot size buy or more greed since i hope that moves but i strick to the rule -FIFO ( the point is i will not let my emotion lead my decision).....i hv experiences enough in such conditions... btw, in big picture...this week could be very interesting...price will much trickie around 13000 level. anyhow, my intention is just sharing each other since -not less not more. tq i am out
sam we are not doing the traditional sup/res bullshit in here.. there are plenty of those kind of threads in ff.. stay active there.
it seems your not getting it..
Passion, Persist, Patience, Protect
  • #351
  • Sep 16, 2014 1:31pm Sep 16, 2014 1:31pm
Quoting FXEmpire
I did not expect this bs move... something must have leaked about fed meeting.. anyways it cost me big as one trade got away from me.. unbelievable. great day turned to disaster. see you tomorrow.

Yah sorry to see this one. It was a surprise announcement that I think caught all off guard. Gona just have to be one of those FX moments to take one the chin and just get back on the horse. Not easy, as I'm well familiar of the wind being taken out of me like a punch in the guts.

It's not something I do but know I should- is set an emergency SL, it could be very bad with a black swan event that will happen to us all if we are trading long enough.

http://www.forexfactory.com/news.php?do=news&id=504516


ps. Tomorrow I will put up my todays trades though I didn't complete as my live trades needed monitoring / management.
As the lights go by so too do the shadows move
  • #352
  • Sep 16, 2014 10:03pm Sep 16, 2014 10:03pm
Quoting Matts Micro
{quote} ps. Tomorrow I will put up my todays trades though I didn't complete as my live trades needed monitoring / management.
Here's yesterdays trades.

My first trade EL could have been better. I also reached the 15pip target (before my loss) which is something I am contemplating when I start this system in earnest.
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As the lights go by so too do the shadows move
  • #353
  • Sep 17, 2014 1:03am Sep 17, 2014 1:03am
Morning to all... getting prepared for the day...
quick daily brief..
eu as usual bearish and inside a bear box... even with the unexpected 60 pipr upward yesterday did not break outside the box and bounce right back inside.. although price has made small HL's inside the box... I see the DO positioned on semi top of the box.. anyhow, none of these matter when the u.s rate announcement comes out as anything can happen and most likely a sharp move one way or other if they change the rate.. but prior to it I presume it should be same as usual 50-70 pips range if not lower.
News wise.. got the GBP bank vote in couple of hours... then u.s cpi early N.Y session.. and of course the big daddy fed stuff... by then we should be done trading hopefully with our DG in da bag and just popping beer out to watch the fed show.


I lost a quite bit yesterday do to my own negligence when that unexpected move occurred.. greed played a part a bit as i did not want to give back my days gain.. so i gave that and more on top of it.. it happens rarely but it certainly could have been easily avoided... could be a good lesson for you guys, it can happen to best of us not just newbies.

Trade well,

Let's rock
Passion, Persist, Patience, Protect
  • #354
  • Sep 17, 2014 1:11am Sep 17, 2014 1:11am
Quoting Matts Micro
{quote} Here's yesterdays trades. My first trade EL could have been better. I also reached the 15pip target (before my loss) which is something I am contemplating when I start this system in earnest. {image}

nice job matt
Passion, Persist, Patience, Protect
  • #355
  • Sep 17, 2014 1:38am Sep 17, 2014 1:38am
Quoting FXEmpire
{quote} nice job matt
Cheers mate.

I am expecting a climb on the EU today in a Pump-Before-Dump scenario before news. The Fed is supposably going to take a more hawkish outlook which will cause the EU to drop (though most of the move should be already priced in imo). But it's as you say- not important, as it doesn't involve this system and should definitely be out of any trades before any announcements. Got to watch the upcoming pound news too as may cause the EU to move as well.
As the lights go by so too do the shadows move
  • #356
  • Sep 17, 2014 1:43am Sep 17, 2014 1:43am
Quoting Matts Micro
{quote} Cheers mate. I am expecting a climb on the EU today in a Pump-Before-Dump scenario before news. The Fed is supposably going to take a more hawkish outlook which will cause the EU to drop (though most of the move should be already priced in imo). But it's as you say- not important, as it doesn't involve this system and should definitely be out of any trades before any announcements. Got to watch the upcoming pound news too as may cause the EU to move as well.
good observation..
Passion, Persist, Patience, Protect
  • #357
  • Sep 17, 2014 1:44am Sep 17, 2014 1:44am
first trade long good for +5..

the key for me is to not be after revenge... sticking to the plan..
I will keep eye on sharp moves to get a bit more... but that's always as part of the plan..

warrior type mentality...
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Passion, Persist, Patience, Protect
  • #358
  • Sep 17, 2014 2:16am Sep 17, 2014 2:16am
lol, sigh I screwed up my first trade badly. I put a buy limit instead of sell stop and used .1 instead of .01 lots. Newb mistakes happening over here. I am distracted by my real trading but when I start this system on a live account I should have better awareness. I managed to stop it out without a loss . I should re-enter the trade at EL for a "true" result but will prob just skip it.
As the lights go by so too do the shadows move
  • #359
  • Edited 3:12am Sep 17, 2014 2:23am | Edited 3:12am
Guys I want to clarify couple of matters about myself and my method of trading which I have presented here..

basically I don't give a fuck about two elements which of both are so popular amongst all traders/investors.

1- Market sentiments or any kind of bias as to predict market movements.
2- Probability factor... it does not exists.. all trades are at best 50/50 in the long run.


You can expect, and if you choose too, learn two elements from me and my method of trading..

1- Learn to attack and defend at the break of all Earliest Level (EL).
2- Courage and ability to trade all and any market conditions.


If this is too out of the box or just simply not your thing... then, this thread would simply not serve you any good.


.. just for purpose of clarity.
Passion, Persist, Patience, Protect
  • #360
  • Sep 17, 2014 3:10am Sep 17, 2014 3:10am
couple of trades here playing cat and mouse with price..
sell loss for -10... buy good for +8... i went for a little more than the normal target to get back in BE land..

the damn sell trade FO and never looked back with giving me not even the slightest chance to cut the damage to lower, and I did exactly what i should have done last night.. closed it before the trigger of the buy trade..

that's the way it goes...

moving on... gbp news in 20 ... it's wise to not get involve until that release and noise settle..
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Passion, Persist, Patience, Protect
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