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Pips for the day - Scalpers only

  • #21
  • Sep 18, 2015 1:53pm Sep 18, 2015 1:53pm
Quoting JensG
{quote} Indeed, there are some of us. Good luck with your trading and keep in mind to stay calm under increasing lot sizes. What was helpful for me was to change the MT4 profit column to points (and hide any cash fields on the screen). I'm trading with 20 lots just like I traded with 1 lot. Thinking (or better seeing) money is misleading and an easy avoidable factor for stress when routinely changing the pip value.

Hey there JensG
Big time I agree!
& Thank you for commenting on my thread there buddy. You are welcome to post some trades yourself too...
Yes , that is my biggest concern , always focus on pips.
  • #22
  • Sep 18, 2015 1:54pm Sep 18, 2015 1:54pm
Quoting js497
Interesting trading journal, waiting more about your system thx

You bet!

Stay in touch there js497 , I will do my best to post as daily as possible.
  • #23
  • Edited 2:44pm Sep 18, 2015 2:23pm | Edited 2:44pm
Quoting mrdetermined
My mentor told me be patient and the payoff will come. Took a trade on GBP/USD late in the session. Took about +8 pips. Time to head out and get ready for the weekend! Good time to review and retrace what I did as far as trading and how I could have done better. Always growing, always learning. {image} {image}
Hi mrdetermined,

I do like your trading style and looking for something too. Can you tell me what kind of indicators are you using for the fibwall and the matrix?
Low amount of pips with a larger lot size mean you have to be pretty sure about your trades. Can you share some more of how you trade. What factors are you using, for example how much stoploss etc?

Already thanks!
  • #24
  • Sep 18, 2015 8:15pm Sep 18, 2015 8:15pm
Quoting Dutchpips
{quote} Hi mrdetermined, I do like your trading style and looking for something too. Can you tell me what kind of indicators are you using for the fibwall and the matrix? Low amount of pips with a larger lot size mean you have to be pretty sure about your trades. Can you share some more of how you trade. What factors are you using, for example how much stoploss etc? Already thanks!


Sure I mean the whole platform it self is an institutional platform. But if you look it up that particular indicator, it is called "Automatic Fibonacci Retracement Indicator"

Yeah the software provides those signals, trade signals are simple to recognize...Red means sell and Green means buy, obviously there is some screen time and experience that plays along..... as a matter a fact I will post some pictures of a signal trade, it was dead on point.

For example this trade USD/CAD BELOW happened, if you look at the red zone at -73- level (first column) the market burly hit that and if you were able to have sold, it would have made some nice quick points. The chart is where the signal was generated.


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As far as stop, it is very tight , I have about a 3-5 pips stop. And my Targets are typically 7-10 pips...unless I leave a position open then I can potentially make a bit more.
  • #25
  • Sep 18, 2015 9:16pm Sep 18, 2015 9:16pm
hi mrdetermined, interesting trades there, i agree your trading idea, to grab what we need not what we want. may i allowed to post some trades here?
Cendol is the most popular dessert in my country
  • #26
  • Sep 19, 2015 1:14am Sep 19, 2015 1:14am
Quoting mrdetermined
{quote} Sure I mean the whole platform it self is an institutional platform. But if you look it up that particular indicator, it is called "Automatic Fibonacci Retracement Indicator" Yeah the software provides those signals, trade signals are simple to recognize...Red means sell and Green means buy, obviously there is some screen time and experience that plays along..... as a matter a fact I will post some pictures of a signal trade, it was dead on point. For example this trade USD/CAD BELOW happened, if you look at the red zone at -73- level (first...
Why do you act as an 'ambassador' for a $3000 program while you can grab every day 10 pips from the market? This journal belongs in the commercial section, unless the software you show here is for free.
  • #27
  • Sep 19, 2015 2:06am Sep 19, 2015 2:06am
Quoting GU-Night
{quote} Why do you act as an 'ambassador' for a $3000 program while you can grab every day 10 pips from the market? This journal belongs in the commercial section, unless the software you show here is for free.
Thanks for commenting GU-Night.
  • #28
  • Sep 19, 2015 3:30am Sep 19, 2015 3:30am
Quoting JensG
{quote} Indeed, there are some of us. Good luck with your trading and keep in mind to stay calm under increasing lot sizes. What was helpful for me was to change the MT4 profit column to points (and hide any cash fields on the screen). I'm trading with 20 lots just like I traded with 1 lot. Thinking (or better seeing) money is misleading and an easy avoidable factor for stress when routinely changing the pip value.
yez pips
we don't predict, we only ride
  • #29
  • Sep 19, 2015 5:49am Sep 19, 2015 5:49am
Quoting cakrajaya
{quote} yez pips
Haha it's been a while cakrajaya hope all is great with you! Making them pips I bet!
  • #30
  • Sep 19, 2015 6:49am Sep 19, 2015 6:49am
Quoting mrdetermined
{quote} Haha it's been a while cakrajaya hope all is great with you! Making them pips I bet!
yez bro, lucky me everyday is greenday
we don't predict, we only ride
  • #31
  • Sep 23, 2015 7:01pm Sep 23, 2015 7:01pm
Was finally able to take a trade this week, so far I am up +7pips.
You can never go broke taking profits consistently.

As I sat behind my screen on Monday and Tuesday, probably for about 1 hour or so...market was slow, so I headed out and cleared my mind. I realized that as just as it is important to take a trade or take profit or be discipline and or have good money management. It is also important to sometimes do nothing when there is no opportunity. This is a key point that gets a lot of traders, that begin getting into trading because they are calculating (time input x dollar amount = profits), when in reality there is no correlation. You have to realize that there will be some days that you will have to sit on your hands behind the screen watching the market because there is just no trading opportunity.
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  • #32
  • Sep 23, 2015 7:05pm Sep 23, 2015 7:05pm
Quoting Cendol
hi mrdetermined, interesting trades there, i agree your trading idea, to grab what we need not what we want. may i allowed to post some trades here?

Hello Cendol , Sure go ahead
  • #33
  • Sep 24, 2015 1:22pm Sep 24, 2015 1:22pm
Can't always win your exact goals, in the markets anything goes, you just have to be willing to accept it ... had a few loses came back to break even and took +3 pips for today nothing big... Today was a Break even day for me. No biggie. There is always tomorrow .

Remember small steps can lead to big changes over a period of time.
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  • #34
  • Sep 25, 2015 1:39pm Sep 25, 2015 1:39pm
Taking a few points today just shy of +5 pips to end the week in profits, as I stepped back and saw the profits I left behind, which is the least of my worries, there will be more days to take more opportunities. I realized as long as I follow the rules and stick to my plan, then I will be consistently profitable.
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  • #35
  • Oct 1, 2015 4:57pm Oct 1, 2015 4:57pm
Taking a few trades today 2 losers and 1 winner and still a break even day??? what ???? .

This is what gets a lot of new traders that come in thinking they are going to make money every single day. This is really the reality of it and the faster you embrace it, the faster you can move on and begin to see the bigger picture in your account. To me , because I didn't lose money it is still a winning day!
Tomorrow - NON Farm Payroll......... Bring it !
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  • #36
  • Mar 2, 2016 4:16pm Mar 2, 2016 4:16pm
Whats up guys just thought I come an stop by again, got about +27 points today... this is just phenomenal , never thought I'd get to this point.
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  • #37
  • Mar 4, 2016 2:20pm Mar 4, 2016 2:20pm
NON FARM PAYROLL - took a -8 initially, stayed focused and about 1min after or so, I was able to get back in at a higher level and that one gave me the pips I needed. Not just to break even but to also get some pips back... ended the day with +25
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  • #38
  • Mar 5, 2016 10:51am Mar 5, 2016 10:51am
I wanted to go ahead an add some analysis and what I did as well as what I learned for yesterdays NFP day 3-4-2015 , so the numbers came out (Actual 242K | Forecast 195k ) I have guidelines for NFP numbers , and based on when they come out, depending on what the number was is what gives me the confidence to take the trades.

I wanted to go over the EUR/USD chart I posted below, so I drew a horizontal Line on the high and low of ( London / Asia Session ) . So, now because the number came in line to which I am able to look for trades , I noticed that the market did take out the low of the asia session , around 20+ pips and it headed back north.... (which I wanted to take that trade down around big figure....but I did not get it, it came around 1.0903 was the low and because I like to be very precise with my entries just to have good confirmation , and especially because I scalp, I need to make sure I give myself some room to be able to have an 8 pip stop, ( for example: if I would have entered at 03, technically I would have had a 5 pip stop, even though it is 8 - because I wanted my entry at 00, or like other traders would do is they would accommodate based on that entry; meaning they would increase their stop to be able to give themselves that room the market needs so they would move their stop to 11 pips ....personally I am not that trader because then it messes with my trade management plan and we as traders it is very important we keep discipline and keep our composure at the heat of the moment....STAY DISCIPLINE & FOLLOW RULES )

So, long story short I did not execute, because it did not meet my requirements. SIMPLE. get ready for next trade... my next opportunity came when it took out the highs of Asia Session as you can see the horizontal line I drew...

Now I did have a signal around 1.0998 level and I had big time forgot that it was just a few pips from the high!!!! Yes I still make mistakes ) it is the process of growing as a trader and mistakes are made to let us know that we need to stay SHARP!! so Stay Sharp... the good thing is that it was one trade ...so no biggie!! but still !!! it is an unnecessary loss!

( haha now I was just venting ) back to trading - so I took a -8 loss at 98 and my next signal was around 1.1025 and that price was the one I was supposed to wait for..... so the market broke the high, it shoot up 20+ pips and it was then when it found some support and was able to give the win and I did about 25 pips in total for the day, still not bad even for my mistake....

So yeah always document what you do!!! and stay consistent and very discipline. Soon after it will be like breathing, without you being conscious of your breathing.

anyways thanks for reading... laters!
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  • #39
  • Mar 15, 2016 2:08pm Mar 15, 2016 2:08pm
Took +7 pips this morning... had a chance to get some more points and had to step away from my desk so I ended up closing the trade. No problem I know I can make it back.

Depending on your trading style...Having the discipline to be able to collect on your winners (following your trading rules) takes courage....True there was a more I could have made. But I know my trading style ... I just want a little bit here and a little bit there... I know I cant rob the same bank twice so sometimes I will have to wait. No problem, I know I can make it back no matter what and just the fact of knowing that simple truth, you know you have longevity and a bright trading future.

Stay Discipline and follow your trading plan...if you don't have one, get one.
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  • #40
  • Mar 18, 2016 4:43pm Mar 18, 2016 4:43pm
Awesome day, ended with +10 points... on a trade I took on EUR/USD later in the session. Using dynamic fibonnacci trading... I am getting better.

Amazing how the level was respected and Hunting for stops, haha jk... I dont do that. I am not a market maker.
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