2009.09.10 DRAIN THE BANKS - LIKE A RAT

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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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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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trueblueTEX
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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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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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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
atr.PNG (61.83 KiB) Viewed 1232 times

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tmanbone
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Postby tmanbone » Tue Oct 12, 2010 3:59 pm

Experiment with the shift label #, zoom out a bit, delete the sweet spots until you get the trade lines like you like. Don't show the dark blue 100pips below daily open shade, just the line, shade the daily atr (14), omit one atr line; change color to chart background color.

I believe LWP stands for Long Wick Pattern, an idea mentioned in these pdfs:http://www.forexfactory.com/showpost.php?p=2455696&postcount=29


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



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