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
2009.09.10 DRAIN THE BANKS - LIKE A RAT
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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
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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The Way To Money Is Using Simplicity And Take Small Loses
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- trueblueTEX
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- trueblueTEX
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- rank: 500+ posts
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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.
Thanks Vincent.
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"
T
T
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