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 7:24 pm

it appeared it was something around 6% as alias calculated

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Postby PTG » Wed Nov 18, 2009 7:33 pm

Kenyuki wrote:I know what you guys are thinking ;) What's the BuyZone kid messing around with the zlines about? Just got inspired from Sam Seiden yesterday... had the chance to have a chitchat with the fella (can't believe I'm starstruck :D).


Nice fishing :lol:

What was your t/p ?

What was it that Sam said about zlines ?
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Postby Kenyuki » Wed Nov 18, 2009 7:50 pm

PTG wrote:What was your t/p ?

Well, T/P was 1.6740, but I moved my S/L so I got stopped out with 19 pips.

PTG wrote:What was it that Sam said about zlines ?

Here's how our conversation went:

Ken: "Hey Sam, what's your take on the zerolines?"
Sam: "The what?"
Ken: "The zerolines. You know, the numbers ending in zero?"
Sam: "Oh, you mean the round numbers?"
Ken: "Oh yeah (forgot that Sam is not a member on kreslik)... the round numbers. What do you do with them? Do you watch out for them, or..."
Sam: "Oh, yeah, sure. Nothing."

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Postby PTG » Wed Nov 18, 2009 8:01 pm

Kenyuki wrote:
PTG wrote:What was your t/p ?

Well, T/P was 1.6740, but I moved my S/L so I got stopped out with 19 pips.

PTG wrote:What was it that Sam said about zlines ?

Here's how our conversation went:

Ken: "Hey Sam, what's your take on the zerolines?"
Sam: "The what?"
Ken: "The zerolines. You know, the numbers ending in zero?"
Sam: "Oh, you mean the round numbers?"
Ken: "Oh yeah (forgot that Sam is not a member on kreslik)... the round numbers. What do you do with them? Do you watch out for them, or..."
Sam: "Oh, yeah, sure. Nothing."


:shock: :lol: that's quite an inspiration !
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Postby lukx » Wed Nov 18, 2009 8:55 pm

Ken I think you mixed zerolines with golden numbers.

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Postby Kenyuki » Wed Nov 18, 2009 9:13 pm

lukx wrote:Ken I think you mixed zerolines with golden numbers.

I think you are right. I honestly have no idea ! :oops:

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Postby Brookmyre » Wed Nov 18, 2009 10:48 pm

cfabian wrote:Lukx, I know the feeling and I'm with you.

I agree with Shinobi, that you have many profitable trades that end up losers. This happens to me as well, but you know what? I plan to use a stop loss EA that I'm sharing in this post. This way it will help us manage our stops. You can set it up for a SL of say 15 - 20, and if in profit by X pips, move your SL to BE.

This way we can care less about managing stops and/or letting trades going against because we "have the feeling it will come back".

As Shinobi says, if stopped at BE, there will be another entry. If it runs in our favor, at least we are locked in.

Will be wise to use it until correctly managing stops.



Shinobi-X wrote:
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!


Neat idea cfabian...thanks for the share :)

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Postby Shinobi-X » Thu Nov 19, 2009 1:30 am

lukx wrote:Thanks cfabian, but I'm using oanda so I can't use this EA :(. Anyway I think I'm done... can't see any light at the end of tunnel... I closed Oanda like alias said...


lukx...
it breaks my heart to see you give up just like that. you know, your short was correct (for a moment in time there) you got like 15 pips there and what did I tell you about locking in pips?

the problem with your trading were (I gotta be brutally honest for the sake of your trading development if you still decide to stay in the market):
1. you don't seem to be able to control your index finger from entering positions
2. you used too much money mistaking a real trading with practice (you should have practice first and then real-trade them live not the other way around). at this stage you should practice the real account and not trying to make money right away.
3. your calculations are off
4. your chart reading is off

see, I was in your shoe in the past. blew up one big account and several smaller ones. the big account I was talking is $25,000 (that's right you read it correct 25-friggin'-K) when I first enter this market. thinking I was smart enough to make big bucks overnight. I managed to pull 35% in one shot and got the account up to $33,750 and then a series of midas trades that took the account to its high of $48,000. the next couple of trades the account went down like a meteor to a low $15,000-ish. this all happened in a short span of 4 months. it really was a hard pill I almost kill myself (literally). then I took it slow by opening up $100, $250, and $200 accounts all went bust after trading them for several months. I searched and researched and researched and practiced and practiced and the next thing I know I'm in a position where I can only dream of years back. I've been living solely from trading.

I can summarize my whole experience in:

EXPER

EXPER-iment alot of which setup is working and which is not working. at this stage you should only use demo account and polish the execution until becomes better and better and better and see good result in your demo account.
EXPER-ience the working setup (by setup I mean money management, trading approach, etc) day in and day out. money management for me includes lot sizing, SL, TP. trading approach deals with how you're going to spot and catch the entry point. at this stage you must use a real account with small fund in it and you can add up later during the process if you can build up a strong confidence after having great result.
EXPER-tise; the next thing is that setup will become your expertise.

every other trader has different story, sadly unlike MO I have followed different path. I read that he was profitable even from the start (hat's off for the guy). I already talk a lot now. I hope you're not giving up yet. you just need to start afresh.

if you can't see any light at the end of the tunnel it may be that you're facing it backward :) .


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

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Postby cfabian » Thu Nov 19, 2009 1:53 am

Shinobi,
It looks like your copycatting my story (the first part though). I'm in the small account mini lot stage.

I'd like to know what approach were you following to get out of the tunnel? As per your trades posted lately, what method you followed, and what is your advice into this?

Cheers

EDIT: You haven't posted trades lately, was confusing with some others, but still would like to know your approach.



Shinobi-X wrote:
lukx wrote:Thanks cfabian, but I'm using oanda so I can't use this EA :(. Anyway I think I'm done... can't see any light at the end of tunnel... I closed Oanda like alias said...


lukx...
it breaks my heart to see you give up just like that. you know, your short was correct (for a moment in time there) you got like 15 pips there and what did I tell you about locking in pips?

the problem with your trading were (I gotta be brutally honest for the sake of your trading development if you still decide to stay in the market):
1. you don't seem to be able to control your index finger from entering positions
2. you used too much money mistaking a real trading with practice (you should have practice first and then real-trade them live not the other way around). at this stage you should practice the real account and not trying to make money right away.
3. your calculations are off
4. your chart reading is off

see, I was in your shoe in the past. blew up one big account and several smaller ones. the big account I was talking is $25,000 (that's right you read it correct 25-friggin'-K) when I first enter this market. thinking I was smart enough to make big bucks overnight. I managed to pull 35% in one shot and got the account up to $33,750 and then a series of midas trades that took the account to its high of $48,000. the next couple of trades the account went down like a meteor to a low $15,000-ish. this all happened in a short span of 4 months. it really was a hard pill I almost kill myself (literally). then I took it slow by opening up $100, $250, and $200 accounts all went bust after trading them for several months. I searched and researched and researched and practiced and practiced and the next thing I know I'm in a position where I can only dream of years back. I've been living solely from trading.

I can summarize my whole experience in:

EXPER

EXPER-iment alot of which setup is working and which is not working. at this stage you should only use demo account and polish the execution until becomes better and better and better and see good result in your demo account.
EXPER-ience the working setup (by setup I mean money management, trading approach, etc) day in and day out. money management for me includes lot sizing, SL, TP. trading approach deals with how you're going to spot and catch the entry point. at this stage you must use a real account with small fund in it and you can add up later during the process if you can build up a strong confidence after having great result.
EXPER-tise; the next thing is that setup will become your expertise.

every other trader has different story, sadly unlike MO I have followed different path. I read that he was profitable even from the start (hat's off for the guy). I already talk a lot now. I hope you're not giving up yet. you just need to start afresh.

if you can't see any light at the end of the tunnel it may be that you're facing it backward :) .


Good trading!
Last edited by cfabian on Thu Nov 19, 2009 2:00 am, edited 1 time in total.
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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Postby Shinobi-X » Thu Nov 19, 2009 1:55 am

Oh, lukx

I have one thing that might cheer you up a bit...

you know phoenix? it rises from it's own ashes (I know it's not real but the moral behind this mythical beast is great). like wise, you should rise from your own ashes. let not your trading spirit die.
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