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Cutting the cord with M1 scalps

  • #421
  • Apr 25, 2015 5:17am Apr 25, 2015 5:17am
I just started reading Trading in the Zone by Mark Douglas. Still in Chapter 1, but this it is good stuff. I swear he reached into the future and saw my brain and wrote about my experiences. I'm sure many of us would say the same thing. When you get a chance, check it out.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #422
  • Oct 30, 2015 5:53am Oct 30, 2015 5:53am
I intend to try this again. I'm a pretty stubborn person by nature and do not like feeling defeated by something. The account will open small. I first need to fix a monitor issue then figure out how to trade London without waking the new puppy. She may make this difficult. We will see!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #423
  • Oct 30, 2015 8:06am Oct 30, 2015 8:06am
Quoting capstone
I am going to try this, I mean, I am going to do this! I am looking to cut the "job" cord. You know what J.O.B. stands for? It stands for Just Over Broke. I am tired of being there. I was self employed in the Real Estate industry for 10 years. The industry collapsed. My business failed and I lost everything in the process. It has made family life difficult, as the children do not understand why we had to move away from their friends, why we rent a house now, and why we have not had a vacation in 5 years! Getting back into corporate America...
Im curious as to how you came to the conclusion that scalping the minute chart is the best way to venture into trading.
  • #424
  • Oct 30, 2015 9:09am Oct 30, 2015 9:09am
Quoting Atokys
{quote} Im curious as to how you came to the conclusion that scalping the minute chart is the best way to venture into trading.
It wasn't when I first ventured into trading. I was on higher TF but found the high SL requirement. Looking at smaller TF, I can use smaller SL. I understand that also means smaller TP. That is alright because lot size is the great equalizer. I am using higher TF to look for direction a bit. I have read all of the debates of higher vs lower TF and do not find either convincing as "The Way". The other part for me is my personality. Smaller TF better fit my mentality. Being in the market longer makes me more nervous.

I'm not saying I will end up staying with the M1, but I probably will not place and manage trades any higher than M15.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #425
  • Oct 30, 2015 9:13am Oct 30, 2015 9:13am
Quoting capstone
{quote} It wasn't when I first ventured into trading. I was on higher TF but found the high SL requirement. Looking at smaller TF, I can use smaller SL. I understand that also means smaller TP. That is alright because lot size is the great equalizer. I am using higher TF to look for direction a bit. I have read all of the debates of higher vs lower TF and do not find either convincing as "The Way". The other part for me is my personality. Smaller TF better fit my mentality. Being in the market longer makes me more nervous. I'm not saying I will...
What steps did you take to assess the viability of your chosen method?
  • #426
  • Oct 30, 2015 10:00am Oct 30, 2015 10:00am
Quoting Atokys
{quote} What steps did you take to assess the viability of your chosen method?
It has been very fluid, changing as I go through the thread, as you can see. Changing to often actually. I have been trying to solidify things for a bit now. This is more of an open experiment, which is why the account is very small this time.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #427
  • Edited 10:12am Nov 4, 2015 6:04am | Edited 10:12am
This one went for 8 pips then started retreating. I should have let it go based on Mongo's idea of between the quarters. At least let it go to the mid quarter, right Mongo. Oh well. Just trying to get back into this and be more consistent with better discipline.

Entry based on pull back in a clear downtrend, matched with overbought marks on CCI and Stoch. You can see that just a few minutes earlier, the CCi was overbought, but the stoch was not confirming it. Finally, entry also based on break of the quarter and 34 SMA.

One more small one. USDCAD buy: oversold CCi and Stoch on the major MA.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #428
  • Nov 18, 2015 7:50am Nov 18, 2015 7:50am
Entered based on overbought CCI and Stoch. Exit based on hitting the 0.6450 BRN and quickly jumping from it. I took the BE at that point. I also knew this zone to be support on the M15 and H1 chart. Turns out I left a bit on the table.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #429
  • Nov 18, 2015 2:00pm Nov 18, 2015 2:00pm
Quoting capstone
Entered based on overbought CCI and Stoch. Exit based on hitting the 0.6450 BRN and quickly jumping from it. I took the BE at that point. I also knew this zone to be support on the M15 and H1 chart. Turns out I left a bit on the table. {image}
Hey , you did that a bit quietly didn't you???? Restarting the "cutting of the cord" with no word or warning???

Good luck Tony I'm sure you're make a go of it this time and just grow that account bit by bit...

I'm thinking about starting a new thread based on my making 20 pips per day and turning £250 into a million within the year...

Thats all we need Tony, 20 pips per day.....

Good luck and God bless....
Feel the Fear and do it anyway!!!
  • #430
  • Nov 18, 2015 3:45pm Nov 18, 2015 3:45pm
I'm thinking about starting a new thread based on my making 20 pips per day and turning 250 into a million within the year... Thats all we need Tony, 20 pips per day..... Good luck and God bless....[/quote]
Hi Clive sounds like a great idea have a great day cheers
  • #431
  • Nov 19, 2015 6:52am Nov 19, 2015 6:52am
Quoting clivepackham
{quote} Hey , you did that a bit quietly didn't you???? Restarting the "cutting of the cord" with no word or warning??? Good luck Tony I'm sure you're make a go of it this time and just grow that account bit by bit... I'm thinking about starting a new thread based on my making 20 pips per day and turning 250 into a million within the year... Thats all we need Tony, 20 pips per day..... Good luck and God bless....
Yup, quietly. I'm still trying to figure out screen time vs making sure the puppy isn't destroying things then peeing on them. So I'm inconsistent at best on time for trading. I have tried to get up at 3 Am for London open, but she just gets noisy in her crate waking everyone up. At some point she will get better about it, but not as a puppy.
Anyways, I'm starting with a much smaller account and grinding it out. I do not share the optimism that our federal administration does for the economy and I know that if things get squirrelly, economically, the auto industry will feel it hard. I cannot afford that, so I think I really have no choice but to make this work....very quickly. I don't mean getting rich quickly, I mean getting consistent quickly.

Finally, you should start a journal like you said. It is a great way to document everything, as long as you are willing to document EVERYTHING regarding the trading. It is helpful to be able to go back through your own history. FF makes this easy to do. I guess you could do it on your computer instead, keeping it private. Either way, I have found it useful.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #432
  • Dec 2, 2015 6:22am Dec 2, 2015 6:22am
A loss this morning. The M1 set up isn't bad, however the H1 chart shows support from 3 days ago here.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #433
  • Dec 2, 2015 6:48am Dec 2, 2015 6:48am
Here is the follow up chart...
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #434
  • Dec 2, 2015 11:48am Dec 2, 2015 11:48am
A better late day trade. This one meet the rules of Mongo and Clive and would've produced another 10 pips had I stayed in a bit longer.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #435
  • Dec 10, 2015 6:23am Dec 10, 2015 6:23am
Yesterday was tough. I took 5 on this EU move.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #436
  • Dec 30, 2015 5:12am Dec 30, 2015 5:12am
Just checking to see how's it going...
  • #437
  • Jan 3, 2016 11:28am Jan 3, 2016 11:28am
Hey Mongo! Great to "see" you! I took the last couple of weeks off for Christmas and new year. I will get back at it on Tuesday. I'm going to devote myself to doing the London open. I'm trying my best to combine Clive's M1 pullbacks that also hit your quarters. These seem to be the best entries. I'm using a very small account and very conservative SL as well.

How are you doing? Still trading full time?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #438
  • Jan 7, 2016 1:46am Jan 7, 2016 1:46am
Quoting capstone
Hey Mongo! Great to "see" you! I took the last couple of weeks off for Christmas and new year. I will get back at it on Tuesday. I'm going to devote myself to doing the London open. I'm trying my best to combine Clive's M1 pullbacks that also hit your quarters. These seem to be the best entries. I'm using a very small account and very conservative SL as well. How are you doing? Still trading full time?
Didn't do a bunch of trading last few weeks either. Just enjoyed the season & family. Have a great year cutting that cord!
  • #439
  • Jan 8, 2016 11:33am Jan 8, 2016 11:33am
Quoting capstone
Hey Mongo! Great to "see" you! I took the last couple of weeks off for Christmas and new year. I will get back at it on Tuesday. I'm going to devote myself to doing the London open. I'm trying my best to combine Clive's M1 pullbacks that also hit your quarters. These seem to be the best entries. I'm using a very small account and very conservative SL as well. How are you doing? Still trading full time?
Hi Cap -this link might help you with trading - ignore the paid for bit.

Inserted Video
every Saint has a past. Every Sinner has a Future
  • #440
  • Jan 12, 2016 9:04am Jan 12, 2016 9:04am
A quick trade at lunch. The quarter line is a reasonable target, but at this time of day, I took profit.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
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