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

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lukx
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Postby lukx » Wed Nov 18, 2009 7:52 am

LOSS:

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Postby lukx » Wed Nov 18, 2009 7:55 am

SHORT:
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Postby lukx » Wed Nov 18, 2009 8:07 am

loss:

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Postby pablo101 » Wed Nov 18, 2009 8:12 am

lukx wrote:LOSS:

Image


In with you and loss with you

I think I better do the opposite of you next time because you seem to be a target lol :)

btw the way, I'm not trading your smaller tf but I'm not sure you can still overtrade like this, maybe one of the other pros can tell you
What line? The line that tells you which way you are trading! - MO

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lukx
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Postby lukx » Wed Nov 18, 2009 8:18 am

I'm thinking the same way, i will try to take opposite trades I think I should take, this way I should finally be profitable :)

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Postby lukx » Wed Nov 18, 2009 8:21 am

short:

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Postby lukx » Wed Nov 18, 2009 8:26 am

LOSS:
and again whole profit for the week eaten up.
Can someone tell me if it's worth it to spend 16h a day looking for a charts to gain 4$ a week and at the end loose it anyway?

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Postby Shinobi-X » Wed Nov 18, 2009 9:19 am

lukx wrote:LOSS:
and again whole profit for the week eaten up.
Can someone tell me if it's worth it to spend 16h a day looking for a charts to gain 4$ a week and at the end loose it anyway?

Image


it is worth it, I guarantee. the time you spent in this business will never go waste.

this is how I do it...

first of all, I am a full-time trader so I have nothing to do all day but looking for opportunity to enter the market. although I watch the chart all day long, I do not take those trades. why? I watch H1, M15 and M5 only to practice my eyes spotting entries. but my live trade is based off H1 and then I zoom out to H4, D1 and sometimes W1 to get the grandeur vision of the trend. I only take 1-2 trades a day, but most of the time 3-4 trades a week. why? 1 D1 candle or 3-4 H4 candles is enough if you can catch it in the right time (of course the more candles the better). I run a statistic a few years back (the result is still true for today's market) and get an average of 70-90 pips (normally) for a single D1 e/j candle.

second, I boiled the number down to make it achievable. for a scalp trade I usually get between 4-8% for each trade. for the non-scalp trade (when I see something big is coming) I can take up a anywhere from 20-35% for each trade (I am still at awe thinking about dragon33's 300-to-20,000 EUR achievement). I define a scalp trade to be a trade that I took if I see something in H1 and non-scalp is a that incorporate H4, D1 and W1.

as I said before in my posts, I don't like losing money. so what I do is I pick my trade carefully and when I see profit I lock them with SL. I noticed that your trade sometimes already pocketed a profit which you eventually let loose and they turn into loss. that's too bad really. you might ask what about the 4:1 or 3:1 RR? that's where your pick of trade come to play. if you don't see something that's worth the RR then don't take it. actually a 2:1 or even 1.5:1 is still a good bargain if you know your stuff. it's that simple. and even if you do get stopped after locking your profit you will still have re-entry points along the way, isn't it?

there's a big different between a full-time trader and trading while keeping your day job. nothing wrong with any of them. it's just when you sit in my position you'll hate seeing your money gone just like that because your source of income is "you-have-to-make-money-by-not-losing-money".

anyway, it's only my experience. some people surely have different experience. it's worth it to learn from a lot of sources though. I hope it can open your eyes to the possibilities available in the how-to.



Good trading!
The gap between reality and dream is called action.

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lukx
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Postby lukx » Wed Nov 18, 2009 9:29 am

Shinobi-X, thank for you input, I appreciate it. This is the thing, right now in this crisis times I got more time in my day job (3d graphic) to watch the charts. I though that during this time I'll be able to learn something and just drop my day job and just leave peacefully from forex without carrying about someone telling me what to do, wake up early in the morning, driving to work etc etc. I'm owrry that I might missed the spot and than it will be too late.

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Postby Shinobi-X » Wed Nov 18, 2009 9:45 am

chill down. you don't need to enter at every opportunity that you see.

very simple trades that can give you +100 pips from the daily information (I used alpari UK)...

the most recent daily is the triangle (shinobi ej 03) and the second is a diamond (shinobi ej 04). it doesn't take a high degree of imagination to see both of them coming, right?
Attachments
shinobi ej 03.gif
shinobi ej 03.gif (16.48 KiB) Viewed 973 times
shinobi ej 04.gif
shinobi ej 04.gif (17.63 KiB) Viewed 973 times
The gap between reality and dream is called action.

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