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

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Humble
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Postby Humble » Mon Jun 07, 2010 1:55 am

Thx es/pip, with ya now.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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Shinobi-X
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Postby Shinobi-X » Mon Jun 07, 2010 4:18 am

1. look how far apart they are (between one extreme to another/ between 3rd and the next 3rd).

2. if the 3rd coincide with another sema in H4 or even D1 (be it 2nd or 3rd) then you know you'll have the most bang for your buck.

3. don't enter at the ultimate extreme. sacrifice some pips in exchange for confirmation (mostly I use cs patterns).

4. the rest is experimentation and simple statistics.

the semas repaint because it identifies the current/ latest extreme "area". thus confirmation and SL plays omnipotent part in entry. i'm sure traders don't mind giving 25 pips 3 times and then getting 200 or more pips in exchange. the game is high probability setup plus tiny losers IMHO.


Have a great trading day!
The gap between reality and dream is called action.

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Postby Pro Trader » Mon Jun 07, 2010 10:59 am

Anybody shorting EU here?

Any ideas for a target?

H4

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H1

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Humble
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Postby Humble » Mon Jun 07, 2010 11:21 am

Hi Pro Trader, trying to brainwash myself with MOs teachings

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Is price closing higher or lower than something? Simple yet powerful question. ..MO

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Postby numbk2k » Mon Jun 07, 2010 11:26 am

Pro Trader wrote:Anybody shorting EU here?

Any ideas for a target?

H4

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H1

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Was on that one but got out at be
zoomed to M5 to find an entry point then it took 15 min to go 12pips in my favor then started to pull up i think it still a bit far from the held profit area

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Will wait for an other chance

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Postby Pro Trader » Mon Jun 07, 2010 11:58 am

Entry at blue

SL at orange

Take profit at the other blue (forgot to change colour)

Out for 15 pips.

Price had gone passed my first area of interest (yellow line), saw a little green which got me out as usual.

Price is heading towards my real target now, (the other yellow line) since I've come out of the trade.

That is the 50% of a bullish H4 candle.

Image

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dragon33
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Postby dragon33 » Mon Jun 07, 2010 12:40 pm

GU

first was my mistake, pushed the wrong button

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EJ missed the initial move but got some nice pips.

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118 pips in total. Out for the day children time!
Trading is like cycling, first you need to learn how.
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Postby Pro Trader » Mon Jun 07, 2010 1:19 pm

I got about 22 pips on EJ on that initial move, should have been more but still.

Glad I was on the same page as you for that trade

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cfabian
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Postby cfabian » Mon Jun 07, 2010 5:04 pm

thanks manta, already joined.
Your values are lots, entry, sl, and tp, correct?


Manta wrote:
cfabian wrote:Manta,
When referring to position sizing is it more like adding lots to same trade, OR increasing lot # on the trades to follow after closing in profit?

Like always risking 3% on all your trades (then the 3% is compounding), OR like say risking same 3% as a start point, make 100 pips, and then use those 100 pips at way higher leverage to make profits over that amount without compromising your initial capital?

Thanks



Manta wrote:
aliassmith wrote:
Manta wrote:
aliassmith wrote:
Manta wrote:
aliassmith wrote:
Manta wrote:
adaseb wrote:
Manta wrote:
cfabian wrote:Manta, not sure if I understand correctly your entries, bur from what I understand, you entry right at the lines, what put you in a severe draw down, at aprox -40 for the first 2 and -20 for the 3rd.

Did I get your entries correctly? How do you handle such DD or what is your SL on each case?

Image


Manta wrote:
prochargedmopar wrote:
Manta wrote:"six pack" ZL trading




Very nice trading manta,

You got BALLS!!

I will dream about that pic tonight.


Hahaha, thanks.
Don't dream about, just do it and enjoy. All you need are two magic momos.

And imagine this is only one pair (I trade 4) and 1 day (I trade 5) :twisted:

EDIT: not magic momos, but mighty momos 8)


Good question, I was curious whether someone ask this question.
I use only limit orders. Very rarely stop or market orders. Yes, I enter on those lines. I strongly believe, that trading is not only about entries, the main things from my point of view are money management (risk, position sizing etc.) and exits. I almost don't use SL, but I always set up emergency SL with every trade to avoid unexpected events. I have maximum weekly loss per pair (around 300 pips) and risk around 1.5% per trade (believe it or not even with this small risk is really not problem to make +30% weekly). As soon as I get first breakout in my direction I usually move SL closer, usually above/below the last swing. But what is really powerful is using accumulated profit during a week to increase position size agresively. I don't want to use and risk my money, but money I make during first two, three days of week. That's why I like so much friday trading :D


I wish you luck in the way you trade. But you gotta remember that if you keep trading without a stop, one day you will get a margin call and your entire account will be blown.

I am not trying to put you down. But if you keep trading like this eventually all your profits will be whipped away in one trade.

What I don't understand is how 300 pips represents 1.5% of your account and your pulling 30% weekly returns.

Once again don't take this as an insult in the way you trade. But many people had good success in trading forex because they never used stops and then there will always be that one trade that will take it all away.


That is misunderstanding. I should start to study English again or move again abroad for some time. 300 pips is my maximum weekly loss per pair. It represents around 7.5% of my account. I always use SL!!!!! Believe me I destroyed more than enough accounts in my trading carrier :D
What I want to point out, is the idea of some kind of cushion money management. MO mentioned this idea several times in this forum, but I think no one wants to hear. Most of people in my opinion still looking for some Entry holy grail.


300 pips at 7.5% is 40 pips= 1% which is low leverage for those that are
unsure.

Manta, I am interesrested in how you use your money management, ie.
profit cushion and increased lot size over the week? I wouldn't mind
doubling my return each month.


yep, it is really just basic math. I'm in touch with Lukx via email and he made 50% in last two weeks just with this basic edge like ZLs and I think he is still a bit scared :D to use this agresive position sizing. But the risk is really not higher. Just think about it. Idea is to use profit you make during a week to make even more. Simply reinvest that money like in any other business.


Not much to go on, but something else I'll have to test and research.


Do the research, try it on sample data from your trading results. Time to time I'm doing the same (see the picture how different the results can be with or without proper position sizing). Sometimes I also think, that I'm really sick and should watch more porn sites than spend so much time with charts :D


What are you taking about? Charts are porn.... aren't they?

Anyway, are those graphs based on your trading data? If so damn near
400% return on each pair. Worth the research and comparing verses
changing lot size daily.


It is just an example to show the difference between trading with or without position sizing. I usually reset this cycle after few days. The data are from one or two months without reset.


Sorry cfabian, I did not get your post, my english is worse and worse. I always risk something between 1.25-1.5%. But I decided to post live trades via twitter here: http://twitter.com/mantafx so join if you want and take it easy :D
There are more important things than FX in this world:

http://www.youtube.com/watch?v=FOGG_osO ... r_embedded
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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rushN4
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Postby rushN4 » Tue Jun 08, 2010 2:22 pm

here is a trade i took short GU.....target 1,4303

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