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  • #1,028,681
  • Sep 27, 2015 10:52pm Sep 27, 2015 10:52pm
At The Risk Of Sounding Like A Newbie & Being Off Topic, I've Been Searching Throughout FF For Info To Learn From & There Have Been A Few Threads That Have Caught My Attention. Although They Seem Somewhat Outdated. Any Opinions On These Threads & Methods

1. Building An Equity Millipede
http://www.forexfactory.com/showthread.php?t=245149

2. No Free Lunch, But All The Coffee You Can Drink
http://www.forexfactory.com/showthread.php?t=56907

3. There's A Method From A Guy Called "Vegas" & Has Methods Called "1 Hr Tunnel" & "4Hr Tunnel"

Any Opinions/Comments?
Demo? What's A Demo?
  • #1,028,682
  • Sep 27, 2015 10:58pm Sep 27, 2015 10:58pm
Quoting Pharm0r
{quote} Experience (with ken's / gators / rock / Hatch / etc help) gives me a good idea 80+ percent of the time it should turn. Others are just stopped out. Sometimes a lot of stop outs for a good entry. Losing five 10-pip stops for 1 runner to 150+ pips is 100+ pip profit. It's easier for me to think in pips than $. Dividable by .01/.10/1/10 lots for RR of .05% loss per stop out (most times) depending on your skill level, many of those potential stop outs are stopped at B/E +1. 10 trades a week stopped at b/e+1 is 10 pips a week, 40 pips a month....
I Try To Stay On Top Of The Forum As Much As Possible To Get Some Useful Guidance, But I Swear It Seems Like I'm Always & Missed The Trade. & I Try To Never Chase Trades. & Getting S/O At BE+1 Is So Annoying. It's Better Than Taking A Loss Tho & Youre Right, They Could Add Up
Demo? What's A Demo?
  • #1,028,683
  • Sep 27, 2015 10:58pm Sep 27, 2015 10:58pm
Quoting Pharm0r
Sometimes a lot of stop outs for a good entry. Losing five 10-pip stops for 1 runner to 150+ pips is 100+ pip profit.
That makes perfect sense. But my problem is I mostly scalp.... and I LIKE scalping rather than holding for hours or days. Not sure why, I just enjoy it. So my problem, since I'm TRYING to keep it short-term, is that while it's easy to hit those 10-pip stops, it's NOT so easy to hit a 150-pip win. Other than switching from scalping to a longer-term strategy, any suggestions?
  • #1,028,684
  • Sep 27, 2015 10:58pm Sep 27, 2015 10:58pm
Quoting Ratmach
{quote} No problem, at all. Yeah, you (and some others here) are no doubt right. And probably not just better chance at consistent profits over time either... also probably less stress, eh? Okay, lemme sleep on this tonight. I may start using stops tomorrow... if I do, I'll let you guys know.
Trust your own system.

What I am trying to say is the waiting strategy for bad trades to turn green wasting time and unproductive + anxiety + prayers instead of concentrating in making $$$
  • #1,028,685
  • Sep 27, 2015 11:02pm Sep 27, 2015 11:02pm
Quoting Ken A
{quote} Trust your own system. What I am trying to say is the waiting strategy for bad trades to turn green wasting time and unproductive + anxiety + prayers instead of concentrating in making $$$
Yep... thanks.
  • #1,028,686
  • Sep 27, 2015 11:11pm Sep 27, 2015 11:11pm
If you scalp you scalp, but risking 10pips to make 10 pips isn't going to get you anywhere. Sure you can have >50% and be profitable, but if you take the better RR, you only stack the deck in your favor.

The school of thought can be applied to scalpers and swingers alike, just adjust the stops.

If your accuracy is such that you can hit a scalp with 2 pip risk, and 20 pip take profit- there you go. 10 tries in the bank. Not including spread..

If your scalping is such that you need a 10 pip stop to accommodate a 5-10 pip take profit- then I'd say you're hardly scalping....and if you are, then you aren't scalping efficiently. That can be refuted and proven wrong by having a better than 50% entry exit, but then again- is 1:1 efficient?

It's my opinion, that the higher in time frame you go- the easier it is to profit. Sisse used to bang that in the thread constantly... another great guy
  • #1,028,687
  • Sep 27, 2015 11:13pm Sep 27, 2015 11:13pm
Quoting Pharm0r
If you scalp you scalp, but risking 10pips to make 10 pips isn't going to get you anywhere. Sure you can have >50% and be profitable, but if you take the better RR, you only stack the deck in your favor. The school of thought can be applied to scalpers and swingers alike, just adjust the stops. If your accuracy is such that you can hit a scalp with 2 pip risk, and 20 pip take profit- there you go. 10 tries in the bank. If your scalping is such that you need a 10 pip stop to accommodate a 5-10 pip take profit- then I'd say you're hardly scalping....and...
tell him to never take a trade without an RRR of 1:4.
  • #1,028,688
  • Sep 27, 2015 11:23pm Sep 27, 2015 11:23pm
Quoting Mr Hatch
{quote} tell him to never take a trade without an RRR of 1:4.
Never watch porn

Never spank the money

Never chew with your mouth open

Never fart in public

Never trade without and RRR of 1:4

I may or may not follow all the above. Either way, I'm not telling anyone how to trade, if I am it isn't what I meant. I'm saying what works for me, and may work for others- as I know it works for others before it worked for me.

Time for bed
  • #1,028,689
  • Sep 27, 2015 11:37pm Sep 27, 2015 11:37pm
Quoting Pharm0r
{quote} Never watch porn Never spank the monkey Never chew with your mouth open Never fart in public, unless it's a silent poop inside an elevator Never trade without and RRR of 1:4 I may or may not follow all the above. Either way, I'm not telling anyone how to trade, if I am it isn't what I meant. I'm saying what works for me, and may work for others- as I know it works for others before it worked for me. Time for bed
.
  • #1,028,690
  • Sep 27, 2015 11:41pm Sep 27, 2015 11:41pm
I spank my money, don't know what a monkey is

now leave me alone!
. perv
  • #1,028,691
  • Sep 27, 2015 11:41pm Sep 27, 2015 11:41pm
Hi,



Everyone I need to get an opinion I usually trade using MT4 charts, my computer is a mac which charting software would you recommend which is better than MT4 charts and which one is easy to learn also I have finished baby pips school which other books would you recommend reading on top of babypips school.
Thanks
  • #1,028,692
  • Sep 27, 2015 11:47pm Sep 27, 2015 11:47pm
Quoting Pharm0r
If you scalp you scalp, but risking 10pips to make 10 pips isn't going to get you anywhere. Sure you can have >50% and be profitable, but if you take the better RR, you only stack the deck in your favor. The school of thought can be applied to scalpers and swingers alike, just adjust the stops. If your accuracy is such that you can hit a scalp with 2 pip risk, and 20 pip take profit- there you go. 10 tries in the bank. Not including spread.. If your scalping is such that you need a 10 pip stop to accommodate a 5-10 pip take profit- then I'd say...
Hmm.. okay, thanks. Gives me a lot to think about.
  • #1,028,693
  • Sep 27, 2015 11:49pm Sep 27, 2015 11:49pm
Quoting Pharm0r
{quote} Never watch porn Never spank the money Never chew with your mouth open Never fart in public Never trade without and RRR of 1:4 I may or may not follow all the above. Either way, I'm not telling anyone how to trade, if I am it isn't what I meant. I'm saying what works for me, and may work for others- as I know it works for others before it worked for me. Time for bed
What is this thing you call "porn"?
  • #1,028,694
  • Sep 27, 2015 11:58pm Sep 27, 2015 11:58pm
Quoting Mr Hatch
{quote} tell him to never take a trade without an RRR of 1:4.
Me not using stops up till now, or hard T/Ps for that matter, I'm not quite sure WHAT my RRR has been. (And yeah, I know that's not smart.) Or now that I think about it, I guess I'm doing one thing that involves Risk/Reward, though not in the traditional sense. I decide the SIZE of my trades based on a percentage of my account balance as it relates to a 10-pip move. Though of course not actually SETTING a 10-pip stop (or something similar) kinda negates the value of that, I suppose.
  • #1,028,695
  • Sep 28, 2015 12:04am Sep 28, 2015 12:04am
Quoting Ken A
{quote} He meant meditation as in bdsm
I always thought the world would be a much better place if we all just lived by the Golden Rule. But then I thought... what about masochists? Oh well... back to the drawing board.
  • #1,028,696
  • Sep 28, 2015 1:44am Sep 28, 2015 1:44am
Quoting Sayy29
At The Risk Of Sounding Like A Newbie & Being Off Topic, I've Been Searching Throughout FF For Info To Learn From & There Have Been A Few Threads That Have Caught My Attention. Although They Seem Somewhat Outdated. Any Opinions On These Threads & Methods 1. Building An Equity Millipede http://www.forexfactory.com/showthread.php?t=245149 2. No Free Lunch, But All The Coffee You Can Drink http://www.forexfactory.com/showthread.php?t=56907 3. There's A Method From A Guy Called "Vegas" & Has Methods Called "1 Hr Tunnel" & "4Hr...
Building an equity millipede is still a valuable source of info.

PS do yourself a favor and lose the caps.
  • #1,028,697
  • Sep 28, 2015 1:55am Sep 28, 2015 1:55am
Quoting ExForX
{quote} Building an equity millipede is still a valuable source of info. PS do yourself a favor and lose the caps.
It's a habit, but since everyone in the thread has said something about it, I'll try to stop. lol

& Thanks, it did make alot of sense ! I'll keep reading into it
Demo? What's A Demo?
  • #1,028,698
  • Sep 28, 2015 2:01am Sep 28, 2015 2:01am
Quoting Sayy29
{quote} It's a habit, but since everyone in the thread has said something about it, I'll try to stop. lol & Thanks, it did make alot of sense ! I'll keep reading into it
Your pinkies will be grateful!
  • #1,028,699
  • Sep 28, 2015 2:20am Sep 28, 2015 2:20am
EUR/USD Daily chart still bearish. Key support at 1.1104. Short term support is at 1.1163


Major USD events for today are:

Speech by FOMC Member Dudley
Pending Home Sales
Speech by FOMC Member Evans
  • #1,028,700
  • Sep 28, 2015 2:44am Sep 28, 2015 2:44am
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