MightyOne wrote:aliassmith wrote:MightyOne wrote:prochargedmopar wrote:Dude,
I called that LIVE in a skype chat room as a fake breakout looking at an M1/m5 chart.
Yeah, I was looking at a M30/h4 chart also.
You know what?
It'don't mean s**t.
Because you have to take the trade.
You have to hold the trade.
AND, you have to exit the trade with profit.
Sorry, but I"m not in a very good mood.
Are not you a bowl or cherries
There was an 18 minute window where you could have shorted with a draw down of 8 pips and a maximum possible draw down of 15 pips (again closing within 8 pips).
The price action was by no trader's definition violent or as scary as it looks on the 30 minute chart.
So the question is why didn't you take the trade? (rhetorical)
Had I had time to teach, mark charts, send files, and trade 2 accounts at the same time I would have, but that is beyond my level of dexterity.
Yum! I like cherries
Hey Mightyone... Couldn't you set up a manager type account and trade 2 accounts at the same time? Don't know if MBT has that but I have seen other that do. That way you could trade one large and also the micro account at the same time.
Then you will have plenty of time to " teach, mark charts, send files"
If I am going to set up anything new It is going to be a Nadex account for binary options (what we should all be using, but for one reason or the other do not )
If you think about it it makes perfect sense:
What do we get paid for?
What stands in the way of of getting paid?
spikes, stop running, market timing, and on rare occasion being wrong
What if you could analyze and place a trade that does not require margin (can buy more), has known risk, cannot be stopped out, and can be liquidated at any time prior to expiry which can be as far out as a week from today?
Maybe its not clear...all that money you are wasting by making your stop loss larger can be used to increase your position size on a trade that has ALL WEEK to be correct.
Maybe its not clear...8, 10, & 15 to 1 returns could be expected, not part of a daydream.
There is the problem of there being a floor making your maximum profit 80 or so pips, but how many of you grab 100 pip moves?
And if you reach the floor you can just roll your position into an option with a lower floor.
A lot of times it is not about your analysis, but what you use to get the job done.
That said an outright position does have advantages that cannot be ignored, some of which are:
1. Tight spreads
2. Low commissions
3. Extremely high liquidity
4. Automatic rollover
5. Possibility of positive interest
6. Trades can be held forever
You have to decide which is right for you.
aiming for 100 pip moves?
I remember you stating that it is vastly more profitable to increase the position size and aim for 20-30 pips....
Have I overlooked something?