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drlmg
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Postby drlmg » Tue Sep 07, 2010 1:04 am

Probably a stupid thought, but here goes.... why not place a few somewhat large trades (large in relation to your available capital) and just let them sit until they become favorable even if it means a couple of weeks. In the mean time trade as usual but closely watch your margin and be sure to keep enough money in your trade account to cover. I know there are fees for letting trades sit but it isn't much is it?

I am new to this and I am certain I am going about it all wrong. Staying up half the night for a 5 - 10% return is getting old.

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MightyOne
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Postby MightyOne » Tue Sep 07, 2010 1:20 am

drlmg wrote:Probably a stupid thought, but here goes.... why not place a few somewhat large trades (large in relation to your available capital) and just let them sit until they become favorable even if it means a couple of weeks. In the mean time trade as usual but closely watch your margin and be sure to keep enough money in your trade account to cover. I know there are fees for letting trades sit but it isn't much is it?

I am new to this and I am certain I am going about it all wrong. Staying up half the night for a 5 - 10% return is getting old.



Placing large orders right off the bat is never a good idea for a long(er) term trader.

It often takes a lot of time and energy to get a position rolling on its own so I can spend the next several months watching profit roll in.

Nothing in life is free
:(

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tmanbone
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Postby tmanbone » Tue Sep 07, 2010 2:02 am

It's a trade off. Several low risk trades in the right direction should get your dough ball rolling. Not as easy as it sounds but you get the point.
"The simplicity of the markets is it's greatest disguise"

T

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tmanbone
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Postby tmanbone » Tue Sep 07, 2010 11:48 pm

H4 Flying Buddha.

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Thanks TRO, thanks MO, your perspective is growing on me.

Rules of engagement:

Look for price trading above/below the 5 ema, in particular look for a pin, a hammer, long wick/small bodied, bullish/bearish engulfing candles closing at S/R and not touching the 5ema when it closes. Price has a higher than not percentage, not sure of exact percentage, of pulling back to the 5 ema. This is your edge. Pay particular attention to large round #'s. i.e 1.29, 1.28, etc. Trade 2 lots, take one off at 1:1 target, take the profits from the lot taken off and apply to your stop for a break even trade, with some wiggle room, for your remaining position. Stack positions at pullbacks into previous candle. Exit is discretionary. I like holding until ma's cross. Works on all time frames. I like the H4.
Last edited by tmanbone on Fri Sep 10, 2010 3:32 am, edited 2 times in total.
"The simplicity of the markets is it's greatest disguise"



T

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TygerKrane
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Postby TygerKrane » Wed Sep 08, 2010 8:03 pm

tmanbone wrote:H4 Flying Buddha.

Image

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Thanks TRO, thanks MO, your perspective is growing on me.

Rules of engagement:

Look for price trading above/below the 5 ema, in particular look for a pin, a hammer, long wick/small bodied, bullish/bearish engulfing candles closing at S/R and not touching the 5ema when it closes. Price has a higher than not percentage, not sure of exact percentage, of pulling back to the 5 ema. This is your edge. Pay particular attention to large round #'s. i.e 1.29, 1.28, etc. Trade 2 lots, take one off at 1:1 target, take the profits from the lot taken off and apply to your stop for a break even trade, with some wiggle room, for your remaining position.

tman,
For some reason, the way you post your image links doesn't show up for me:
(I don't even know why it's not showing, the text entered looks correct to me.
--------------------------------------
LOL, and I just figured out why, my job's internet filter, considers the site postimage.org as 'pornography', so I won't be able to see your images from this site until I leave work.
:(
All I see is the word "Image" and it is in blue, hyperlinked to take me to http://www.postimage.org/ (which I CAN access)

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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tmanbone
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Postby tmanbone » Wed Sep 08, 2010 8:21 pm

Yes, that is strange. Thanks for letting me know. Maybe a little sexy, but defintely not XXX. lol
"The simplicity of the markets is it's greatest disguise"



T

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tmanbone
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Postby tmanbone » Fri Sep 10, 2010 4:01 am

Update

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"The simplicity of the markets is it's greatest disguise"



T

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afrida
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Postby afrida » Fri Sep 10, 2010 2:01 pm

Great..
Knowledge is everything

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tmanbone
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Postby tmanbone » Fri Sep 10, 2010 4:36 pm

Welcome, Yes ma'am I have to agree. Looks like you know a thing or two. Please join us.
"The simplicity of the markets is it's greatest disguise"



T

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afrida
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Postby afrida » Sat Sep 11, 2010 3:51 pm

Its hard to explain how it work... but... it work for me...

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:D :D
Knowledge is everything



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