2009.09.10 DRAIN THE BANKS - LIKE A RAT

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eudamonia
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Postby eudamonia » Mon Oct 11, 2010 3:59 pm

Along these lines I'd say that trading knowledge is largely tacit. Books will only take you so far. Can you teach someone to ski, surf, or create great paintings through a book, forum, or static picture? Of course not. Trading is the same way. That is the Art of Trading.
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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genlogins
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Postby genlogins » Mon Oct 11, 2010 7:51 pm

thanks tman, skivers, eud, and others that read.

I just had today one of those AHA moments when I set a Short order and after 5 minutes I left a break even +1 and turn off the machine. When I got back 8 hours later I had just over 56 pips at 0.001.

Well, it was not a catching time because it was my demo account, but I saw that I could get in 3x more with higher lot if I just hang on to the tradestation open. One of those tyring days of too much work.

And... yes..... you are right, I keep on reading stuff about forex but now after so much information all get down to practice 1 million times over.

G
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The Way To Money Is Using Simplicity And Take Small Loses

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genlogins
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Postby genlogins » Mon Oct 11, 2010 8:04 pm

Just another thing, have you guys noticed that we could get a quick 3-5 pip every minute when 30-1hrs of market open London and NY?

I actually have days that I have up to 3 trades of 5 pips in only 1 candle of M1.

I like specially the wicks, when they reverse I get in an cash. Most times I can only cash 1 pip.

But look, I think that if I am consistent in catching 5 pips a day, I will be very happy.

I know of 1 person that trades hops, and every day he looks at the M5 and than M1, than he enters a wick high of a candle on M1 and catches TP 1= 2 pips than sets SLon those and let run a trailing stop and let go to a TP2= 3 pips and TP3= 5 pips.
Mind you, his SL= 2pips, but moves to +2 once on his direction.
Also, each pip he trades for $10,000.

He was very happy this summer, when the fires in Russia and the hops when up like crazy. He told me he just let run for 8 weeks and never closed after 5 minutes like he use to do.
On the 8th week he had such an account that he entered the last 3 trades on top of all the others with each pip for $100,000 and those 3 trades alone got him quite a lot.


I was thinking in doing the same but of course lot 0.001 :)

G
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The Way To Money Is Using Simplicity And Take Small Loses



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trueblueTEX
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Postby trueblueTEX » Tue Oct 12, 2010 2:31 am

If you can get 5 to 10 pips a day with big lots and little drawdown, you will be set for life.

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Postby trueblueTEX » Tue Oct 12, 2010 2:13 pm

2 USDCHF trades for 6.3 pips. I got in pretty late on the second and sweated it. Actually, I got in late on the first one as well.


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tmanbone
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Postby tmanbone » Tue Oct 12, 2010 2:32 pm

Image


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

T

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trueblueTEX
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Postby trueblueTEX » Tue Oct 12, 2010 2:59 pm

Hey Tman,

nice trade. I've always been leery of the yen pairs yet you seem to post them quite a bit. What's your opinion of them?

Also, I never could quite get that atr indi to work quite like your. Could you post the tpl?

Thanks

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trueblueTEX
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Postby trueblueTEX » Tue Oct 12, 2010 3:09 pm

Just added 4.8 on the GU coming out of the rat zone. It fell right back in right after I closed!!

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tmanbone
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Postby tmanbone » Tue Oct 12, 2010 3:13 pm

Show me a screen shot of your chart H1, drag the y axis down where I can see all the TRO_TRADE_LINES_ohlc

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



T

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trueblueTEX
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Postby trueblueTEX » Tue Oct 12, 2010 3:20 pm

here it is. See how all the text is way to the left? I even reloaded the indi and it stayed there.
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atr.PNG
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