lukx zline trading log + cfabian p.35 + adaseb p.48

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es/pip
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Postby es/pip » Sun Feb 21, 2010 12:23 am

adaseb wrote:I love you charts es/pip

Please keep posting them.

If you post, i will post mine also.


i will start posting some charts again.

i am mostly trading longer time frame stuff on the zl/mz stuff, and scalping the euro off the m1-m5. Using the principles i showed in the above charts--- s/r, s/d zones and zl's.

scalping

i am by no means recommending anyone to do this --its just what i am doing

when i say scalping i mean scalping---lots of trades.

initial 10 pip stops and then adjusting based on PA

started at 1% risk per 10 pip currently trading 3% per 10 pip and getting ready to move to 4% and stay there

taking every trade that i can net 4 pips on

trades normally are 4-15 pip scalps, until i see something that i like and i
may hold for a m15- h1 target

lots of small losers and b/e

i dont have a goal, but would like to think i can average 30 net pips a day at that r/r

have a slightly better commish rate than advertised

using an ecn so i can bid and offer

when i say scalping the m1-m5 i still know where i am at through the h1 time frame as far as s/r and PA

reason

1. i like scalping
2. if the s**t hits the fan with the 10-1 leverage i will just take this to the cme currency futures( may move over there anyway)----better commish initially 3.3-3.80 per round turn and good leverage 500margin at 12.50 per tick
3. also very liquid usually 200 lots (at 12.50 per tick) on the inside levels

4. also can look into leasing a cme seat and paying very little in commish

5. i can det the time i want to trade ie London and Frankfurt open and us open---- generally 145 am -5 am and 8 am to 11am eastern. hit it hard when its moving and then be done. the hrs i was spending trading was killing me at 16+ hrs a day

6. if i move to the cme then i will also scalp the pound, which on the cme has only a 1pip spread and still good liquidity as well



but when i have time i will post what i see on zl/mz

trading that on mostly h4- weekly sometimes monthly
Bend over and assume the position for another 4 years of hope and change.

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Postby prochargedmopar » Sun Feb 21, 2010 6:06 am

es/pip wrote:
adaseb wrote:I love you charts es/pip

Please keep posting them.

If you post, i will post mine also.


i will start posting some charts again.

i am mostly trading longer time frame stuff on the zl/mz stuff, and scalping the euro off the m1-m5. Using the principles i showed in the above charts--- s/r, s/d zones and zl's.

scalping

i am by no means recommending anyone to do this --its just what i am doing

when i say scalping i mean scalping---lots of trades.

initial 10 pip stops and then adjusting based on PA

started at 1% risk per 10 pip currently trading 3% per 10 pip and getting ready to move to 4% and stay there

taking every trade that i can net 4 pips on

trades normally are 4-15 pip scalps, until i see something that i like and i
may hold for a m15- h1 target

lots of small losers and b/e

i dont have a goal, but would like to think i can average 30 net pips a day at that r/r

have a slightly better commish rate than advertised

using an ecn so i can bid and offer

when i say scalping the m1-m5 i still know where i am at through the h1 time frame as far as s/r and PA

reason

1. i like scalping
2. if the s**t hits the fan with the 10-1 leverage i will just take this to the cme currency futures( may move over there anyway)----better commish initially 3.3-3.80 per round turn and good leverage 500margin at 12.50 per tick
3. also very liquid usually 200 lots (at 12.50 per tick) on the inside levels

4. also can look into leasing a cme seat and paying very little in commish

5. i can det the time i want to trade ie London and Frankfurt open and us open---- generally 145 am -5 am and 8 am to 11am eastern. hit it hard when its moving and then be done. the hrs i was spending trading was killing me at 16+ hrs a day

6. if i move to the cme then i will also scalp the pound, which on the cme has only a 1pip spread and still good liquidity as well



but when i have time i will post what i see on zl/mz

trading that on mostly h4- weekly sometimes monthly



Now doesn't this type of trading sound familiar.....I've been getting chastised for this system for ayear......I WOULD recomment it to others as long as they have a decent grasp on dealing ranges, breaks/retests, and sup/dem pivots.

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Postby adaseb » Sun Feb 21, 2010 7:40 am

ES/PIP

How do the currency futures work exactly.

I know the

euro (EC)
pound (BP)
Yen (jy)

But it feels weird trading these when they are not connected to another pair like it is on the cash forex.

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Postby es/pip » Mon Feb 22, 2010 12:34 am

adaseb wrote:ES/PIP

How do the currency futures work exactly.

I know the

euro (EC)
pound (BP)
Yen (jy)

But it feels weird trading these when they are not connected to another pair like it is on the cash forex.



they are the futures of those pairs

euro futures= euro/usd
pound futures= gpb/usd

edit---------------

i am almost positive on that, as i have never traded those on the cme
Bend over and assume the position for another 4 years of hope and change.

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Postby MightyOne » Mon Feb 22, 2010 8:25 am

adaseb wrote:ES/PIP

How do the currency futures work exactly.

I know the

euro (EC)
pound (BP)
Yen (jy)

But it feels weird trading these when they are not connected to another pair like it is on the cash forex.


They are connected to the dollar as es/pip said.

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Postby adaseb » Mon Feb 22, 2010 3:35 pm

MightyOne wrote:
adaseb wrote:ES/PIP

How do the currency futures work exactly.

I know the

euro (EC)
pound (BP)
Yen (jy)

But it feels weird trading these when they are not connected to another pair like it is on the cash forex.


They are connected to the dollar as es/pip said.


Oh I see. So futures are worth getting into if you primarily trade larger than 1 full lots? Since you pay a 1 pip spread instead of the 2-3 on some pairs.

How much money do you need to put down to buy one of those contracts?

Is it like the options in stocks where 1 contract handles 100 shares. Where here 1 contract handles 100,000 units of currency?

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Postby cfabian » Mon Feb 22, 2010 8:11 pm

Hi espip,
Thanks for your inputs on my trade. Yes I was wondering about that chart as well.... weird.

As per "small demand zone" how do you determine is small vs large, etc?





es/pip wrote:
adaseb wrote:I was confused at first because it didn't add up but then I realised that ES/PIP posted a EJ chart from Feb 16th instead of Feb19th.



lol

thats weird

for some reason when i put my ej chart on h1 that is all the data it shows but on any other time frame it shows correctly

on mb metatrader live---

i responded to his post of trading short on the ej bec i am long off the daily, and just opened the h1 and assumed that was the same PA. because there is a small demand zone on his h1 chart in that PA as well that he sold back into

lol
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Postby es/pip » Tue Feb 23, 2010 12:22 am

adaseb wrote:
MightyOne wrote:
adaseb wrote:ES/PIP

How do the currency futures work exactly.

I know the

euro (EC)
pound (BP)
Yen (jy)

But it feels weird trading these when they are not connected to another pair like it is on the cash forex.


They are connected to the dollar as es/pip said.


Oh I see. So futures are worth getting into if you primarily trade larger than 1 full lots? Since you pay a 1 pip spread instead of the 2-3 on some pairs.

How much money do you need to put down to buy one of those contracts?

Is it like the options in stocks where 1 contract handles 100 shares. Where here 1 contract handles 100,000 units of currency?


they tick at 12.50 per tick so that would be 12.5 small lots or 125, 000

its 500 margin per contract

yeah you need to have decent amount of money just because you lose the ability to compound at the smaller levels via mini/ micro lots

edit---------

the euro ticks at 12.50 not sure about the other ones---probably be the same if not its close i'm sure
Last edited by es/pip on Tue Feb 23, 2010 12:55 am, edited 1 time in total.
Bend over and assume the position for another 4 years of hope and change.

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es/pip
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Postby es/pip » Tue Feb 23, 2010 12:24 am

dbl post
Last edited by es/pip on Tue Feb 23, 2010 12:27 am, edited 2 times in total.
Bend over and assume the position for another 4 years of hope and change.

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Postby es/pip » Tue Feb 23, 2010 12:25 am

cfabian wrote:Hi espip,
Thanks for your inputs on my trade. Yes I was wondering about that chart as well.... weird.

As per "small demand zone" how do you determine is small vs large, etc?





es/pip wrote:
adaseb wrote:I was confused at first because it didn't add up but then I realised that ES/PIP posted a EJ chart from Feb 16th instead of Feb19th.







lol

thats weird

for some reason when i put my ej chart on h1 that is all the data it shows but on any other time frame it shows correctly

on mb metatrader live---

i responded to his post of trading short on the ej bec i am long off the daily, and just opened the h1 and assumed that was the same PA. because there is a small demand zone on his h1 chart in that PA as well that he sold back into

lol


i was just referencing the distance between the bodies

say a zone was 10 pips wide vrs 30 pips wide

wasn't saying it was more or less important based on the size
Bend over and assume the position for another 4 years of hope and change.

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