Sure. Just trading EURUSD and GBPUSD. Watch out for upcoming economic data with strong consensus. Every time price hits a 50 or 00 level buy or sell in the direction it's moving. I usually take 10 pips, often up to 25. Accuracy is about 90% (up 87 pips today).
By the way I sussed this out after studying TRO's method, this way is slightly modified but works well for me.
$TRILLION STRATEGY
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Scalping the flow according to the chart. The news just reinforces the trend. I also watch the S&P500 and DowJones indexes. The dollar tends to follow DJ and S&P moves like a lapdog.
I now use this economic calendar:
http://www.fxstreet.com/fundamental/economic-calendar/
I now use this economic calendar:
http://www.fxstreet.com/fundamental/economic-calendar/
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pineapples wrote:Scalping the flow according to the chart. The news just reinforces the trend. I also watch the S&P500 and DowJones indexes. The dollar tends to follow DJ and S&P moves like a lapdog.
I now use this economic calendar:
http://www.fxstreet.com/fundamental/economic-calendar/
Nice! I have been able to use attached quite nice to scalp that type of flow. I was keeping the oil chart up as well to look for $ correlations. I like the DJ/S&P idea. Thx
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tried it this morning
tried it with the morning american news (13:30 GMT american news...it shot up and hit my buy stop at 126.50 on the EURUSD and DROPPED like a rock.
can anyone tell me what im doing wrong?
ps: diemtrader, i cant open ur attached file...what program do i need to open it???
can anyone tell me what im doing wrong?
ps: diemtrader, i cant open ur attached file...what program do i need to open it???
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Re: tried it this morning
libyanballa wrote:tried it with the morning american news (13:30 GMT american news...it shot up and hit my buy stop at 126.50 on the EURUSD and DROPPED like a rock.
can anyone tell me what im doing wrong?
ps: diemtrader, i cant open ur attached file...what program do i need to open it???
In this case there was little initial reaction to the news. Did you stick around for an hour and a half later? The 15:00 GMT candle is over 150 pips up! If you got stopped out then your mistake was either 1) Too tight a stop loss, or 2) You didn't re-enter at the following signals.
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TheRumpledOne wrote:Posted - 01/10/2006 08:10:46
I saw this last night:
"How To Make A Million In 40 Trades"
http://www.tradeology.com/million-dollar-trade.html
I figured if he can, why can't anyone?
So I created...
"How to turn $1,000 into TEN TRILLION DOLLARS in a year and still take 2 weeks off!"
You start with $1000.00 and make 10 pips a day trading FOREX.
Attached is the Excel file.
*** ATTENTION FELLOW TRADERS ***
THIS IS FOR DEMONSTRATION PURPOSES ONLY.Code: Select all
{$TRILLION}
{Programmer: Avery T. Horton, Jr. aka TheRumpledOne
*** ATTENTION FELLOW TRADERS ***
THIS IS FOR DEMONSTRATION PURPOSES ONLY.
}
Inputs:
iMaxDollarLoss(100), // IN DOLLARS
iTarget(130), // IN DOLLARS
iQuantity(1), // IN LOTS / CONTRACTS / SHARES
iActionBar(0); // BAR TO BASE ACTION ON, 0 = CURRENT BAR, 1 = 1 BAR AGO
Variables:
sLgEntryTrigger( false ), // IF TRUE BUY (LONG)
sShEntryTrigger( false ), // IF TRUE SELL (SHORT)
DayTop( 0 ), // TOP OF PREVIOUS DAY'S CANDLE BODY
DayBottom( 0 ), // BOTTOM OF PREVIOUS DAY'S CANDLE BODY
DayHigh( 0 ), // TODAY'S HIGH
DayLow( 0 ) ; // TODAY'S LOW
{*************************************************}
{ INITIALIZE }
{*************************************************}
DayHigh = HighD(0) ;
DayLow = LowD(0) ;
DayBottom = minlist(OpenD(1),CloseD(1));
DayTop = maxlist(OpenD(1),CloseD(1));
{*************************************************}
{ ENTRIES }
{*************************************************}
sLgEntryTrigger = ( close crosses above DayTop ) ; // TRUE IF TOP CROSSED
sShEntryTrigger = ( close crosses below DayBottom) ; // TRUE IF BOTTOM CROSSED
if MARKETPOSITION = 0
and sLgEntryTrigger[iActionBar]
then buy iQuantity shares this bar on close;
if MARKETPOSITION = 0
and sShEntryTrigger[iActionBar]
then sell short iQuantity shares this bar on close;
{*************************************************}
{ STOPS }
{*************************************************}
SetStopPosition ;
SetProfitTarget( iTarget ) ;
SetStopLoss( iMaxDollarLoss ) ;
SetExitOnClose;
So this money mangement suggests that i must invest 100% of my money in a trade and bank 10pips target = 10% daily growth.
What if my trade flunks and i lose 50pip....50% loss in one day or maybe 100%?
I think investing 10% and making 100pip per day is more realistic for progression money management.
BTW, most brokers dont have billion dollar fundpool. .. so if your dreaming of trillions i bet its gonna remain a daydream forevah
I highly doubt that this was ever meant to be taken seriously...
dznmrd wrote:TheRumpledOne wrote:Posted - 01/10/2006 08:10:46
I saw this last night:
"How To Make A Million In 40 Trades"
http://www.tradeology.com/million-dollar-trade.html
I figured if he can, why can't anyone?
So I created...
"How to turn $1,000 into TEN TRILLION DOLLARS in a year and still take 2 weeks off!"
You start with $1000.00 and make 10 pips a day trading FOREX.
Attached is the Excel file.
*** ATTENTION FELLOW TRADERS ***
THIS IS FOR DEMONSTRATION PURPOSES ONLY.Code: Select all
{$TRILLION}
{Programmer: Avery T. Horton, Jr. aka TheRumpledOne
*** ATTENTION FELLOW TRADERS ***
THIS IS FOR DEMONSTRATION PURPOSES ONLY.
}
Inputs:
iMaxDollarLoss(100), // IN DOLLARS
iTarget(130), // IN DOLLARS
iQuantity(1), // IN LOTS / CONTRACTS / SHARES
iActionBar(0); // BAR TO BASE ACTION ON, 0 = CURRENT BAR, 1 = 1 BAR AGO
Variables:
sLgEntryTrigger( false ), // IF TRUE BUY (LONG)
sShEntryTrigger( false ), // IF TRUE SELL (SHORT)
DayTop( 0 ), // TOP OF PREVIOUS DAY'S CANDLE BODY
DayBottom( 0 ), // BOTTOM OF PREVIOUS DAY'S CANDLE BODY
DayHigh( 0 ), // TODAY'S HIGH
DayLow( 0 ) ; // TODAY'S LOW
{*************************************************}
{ INITIALIZE }
{*************************************************}
DayHigh = HighD(0) ;
DayLow = LowD(0) ;
DayBottom = minlist(OpenD(1),CloseD(1));
DayTop = maxlist(OpenD(1),CloseD(1));
{*************************************************}
{ ENTRIES }
{*************************************************}
sLgEntryTrigger = ( close crosses above DayTop ) ; // TRUE IF TOP CROSSED
sShEntryTrigger = ( close crosses below DayBottom) ; // TRUE IF BOTTOM CROSSED
if MARKETPOSITION = 0
and sLgEntryTrigger[iActionBar]
then buy iQuantity shares this bar on close;
if MARKETPOSITION = 0
and sShEntryTrigger[iActionBar]
then sell short iQuantity shares this bar on close;
{*************************************************}
{ STOPS }
{*************************************************}
SetStopPosition ;
SetProfitTarget( iTarget ) ;
SetStopLoss( iMaxDollarLoss ) ;
SetExitOnClose;
So this money mangement suggests that i must invest 100% of my money in a trade and bank 10pips target = 10% daily growth.
What if my trade flunks and i lose 50pip....50% loss in one day or maybe 100%?
I think investing 10% and making 100pip per day is more realistic for progression money management.
BTW, most brokers dont have billion dollar fundpool. .. so if your dreaming of trillions i bet its gonna remain a daydream forevah
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here is an example of a good triangle break on a 5 minute bar, you can see the undecided resistance level on top with the decided support on the bottom, once that support was broker, the trade was to short and scalp the selloff in the next few bar.
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