The ideas that I trade by:

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MightyOne
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Postby MightyOne » Sun Feb 03, 2013 10:40 pm

trueblueTEX wrote:MO mentioned the hours of the market. I think he said it was the most likely market to consistently win in.

I've bought a couple of his recommendations (book and DVD) but I haven't had time to look at them. I started Forex a couple of years ago and only dabbled in it but I would like to make some consistent money in it before trying something different.

What's the smallest account you can have to trade options or futures?


I started trading vanilla options with a $2,000 account.

If money isn't a problem then I'd say 10-$15,000 should do it.

My Futures strategy is:

1) Hedged Options <--- establish SPACE
2) Vanilla Options <--- increase potential w/out increasing risk
3) Outright <--- roll those 3.5+ month contracts like a gator =)
4) Covered Calls, intermonth spreads, or liquidate.

in that order.

Outrights:

It is not a big deal if your Futures contract is temporarily illiquid.

Always watch the front month even if you are trading the back month.

You can still get a margin call if you hedge with an option; you cannot use profits generated from long options without first liquidating.

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TygerKrane
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Postby TygerKrane » Mon Feb 04, 2013 3:56 am

aliassmith wrote:
TygerKrane wrote:
dojirock wrote:Aliassmith,

Great to see you.....I know what you mean about the forum, up till now its been pretty scarce. I'm going to move to futures hopefully late this year and do both until i'm setup completely on futures. I like gold, and cocoa, sugar....
Scalping burned you out eh? I'm not to that point yet, too lucrative. I use a MM based off space and what you were doing at the end of your last thread. Using a 1 week cycle then I start over.
Oh, well ....never got to thank you for all your charts and post, they helped get me where I am today....

:D

Why is it that you guys get all antsy-in-the-pantsy and so desperately want to jump of the Forex ship into Futures and Options and such?
(Question not so much aimed at es/pip, as he has always been on the e-minis anyway)

Well, I remember Sam Seiden saying that he preferred trading Forex Futures over Spot Forex, but I don't remember his reasons why, do any of you know why??


I comes down to personal reasons for me. If at one point I didn't continue to search and study I would have never found out how powerful trading forex can be. (Probably be trading stocks outright if I didn't) I am doing the same thing researching options.

*Options have staying power
*Risk is set and known
*Good leverage exists
*Unlimited combinations available
*Brokers seem less of a risk
*Basically everything I learned about Forex applies
*Futures and stock markets are not open 24hours a day (sleep without worry)

I have not made a decision to go with options as of yet. They do get me excited tho :wink:

Before I forget, let me say, it's nice to have you drop by here, and, I'll always remember you as the guy who saved me psychologically (more than once actually, LOL).

As for me:

¤1. become an above average trader
¤2. become a Japanese or Canadian citizen
¤3. become accustomed to having access to 400:1 lev
¤4. become a megalomaniac

Peace Bitchesz!! 8) :smt066


But I too, totally thank my lucky stars that I explored options to move away from trading just plain stocks.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TygerKrane
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Postby TygerKrane » Mon Feb 04, 2013 4:13 am

dojirock wrote:
TygerKrane wrote:
dojirock wrote:Aliassmith,

Great to see you.....I know what you mean about the forum, up till now its been pretty scarce. I'm going to move to futures hopefully late this year and do both until i'm setup completely on futures. I like gold, and cocoa, sugar....
Scalping burned you out eh? I'm not to that point yet, too lucrative. I use a MM based off space and what you were doing at the end of your last thread. Using a 1 week cycle then I start over.
Oh, well ....never got to thank you for all your charts and post, they helped get me where I am today....

:D

Why is it that you guys get all antsy-in-the-pantsy and so desperately want to jump of the Forex ship into Futures and Options and such?
(Question not so much aimed at es/pip, as he has always been on the e-minis anyway)

Well, I remember Sam Seiden saying that he preferred trading Forex Futures over Spot Forex, but I don't remember his reasons why, do any of you know why??


Tyger,

For me its a goal to prove to myself it can be done. In 2008, early, my 1st

time trading ever was with a friend that "new what he was doing" I

entered long on gold futures with a 3k account. On a recommendation, he

would then explain why he went were in that long position as we made

hundreds of dollars. Well 20 min after entering the trade, I was down

1300.00

This physically made me sick, after convincing my wife to give permission

of all we had saved at the time to trade it, I had convinced her this guy

knew what he was doing. Knowing she would be home in 4 hrs from work

and I would have to explain that this guy didn't know jack about trading

and apologize for ever putting our hard earned cash as risk, my blood

pressure was through the roof. I did so, and wonderful as my wife is, she

saw the anguish it was causing me all on my own and replied "It's alright,

calm down, its not worth having a heart attack over. Your much to loved

and needed as the head of our family for that to happen" That's why I

love her... I have done less worse and gotten more grief in the past..lol

Anyways, I stayed in the trade for 6 hrs and it came back to breakeven

and I closed it. Valuable lesson learned. If i'm going to risk our money,

then do it on my own. Over the next 6 months, still not fully understanding

price action, I whittled away my account on my bad trades, not others

recommendations. I took a picture of that trade and many other trades

that I took which eventually blew that account out. I am now amazed at

how I could even entertain those trades knowing what I know now. Man

didn't mean to rant...Point is, its less volatile, and just as lucrative if not

more and it would be closure for me personally to go back and make that

money back on the futures. A personal goal yet to be met.

Wow, that was quite a background story, thanks for sharing openly & honestly.
That was not so much a rant, as it was catharsis, I'd say!

8)

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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MightyOne
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Postby MightyOne » Mon Feb 04, 2013 4:39 am

TygerKrane wrote:
aliassmith wrote:
TygerKrane wrote:
dojirock wrote:Aliassmith,

Great to see you.....I know what you mean about the forum, up till now its been pretty scarce. I'm going to move to futures hopefully late this year and do both until i'm setup completely on futures. I like gold, and cocoa, sugar....
Scalping burned you out eh? I'm not to that point yet, too lucrative. I use a MM based off space and what you were doing at the end of your last thread. Using a 1 week cycle then I start over.
Oh, well ....never got to thank you for all your charts and post, they helped get me where I am today....

:D

Why is it that you guys get all antsy-in-the-pantsy and so desperately want to jump of the Forex ship into Futures and Options and such?
(Question not so much aimed at es/pip, as he has always been on the e-minis anyway)

Well, I remember Sam Seiden saying that he preferred trading Forex Futures over Spot Forex, but I don't remember his reasons why, do any of you know why??


I comes down to personal reasons for me. If at one point I didn't continue to search and study I would have never found out how powerful trading forex can be. (Probably be trading stocks outright if I didn't) I am doing the same thing researching options.

*Options have staying power
*Risk is set and known
*Good leverage exists
*Unlimited combinations available
*Brokers seem less of a risk
*Basically everything I learned about Forex applies
*Futures and stock markets are not open 24hours a day (sleep without worry)

I have not made a decision to go with options as of yet. They do get me excited tho :wink:

Before I forget, let me say, it's nice to have you drop by here, and, I'll always remember you as the guy who saved me psychologically (more than once actually, LOL).

As for me:

¤1. become an above average trader
¤2. become a Japanese or Canadian citizen
¤3. become accustomed to having access to 400:1 lev
¤4. become a megalomaniac

Peace Bitchesz!! 8) :smt066


But I too, totally thank my lucky stars that I explored options to move away from trading just plain stocks.


http://forexmagnates.com/leverage-in-ja ... e-horizon/

http://forexmagnates.com/japan-further- ... -leverage/

I'd rather trade at 10:1 leverage than move to Canada :lol:

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es/pip
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Postby es/pip » Mon Feb 04, 2013 5:42 am

aliassmith wrote:
es/pip wrote:
aliassmith wrote:
MightyOne wrote:
dojirock wrote:MO,

I admire your patience and persistence........

doji
:D


Why do people go out of their way to be trading educators (this really sux!)?

Fortunately I still have a few beers left =)


Glutton for punishment Mightyone, I doubt you have any hair left after the punishment you put yourself through. :P


Where you been hiding?

:)


Forum went to crap so I have been doing my thing. Researching option spreads ATM, its a whole nother world. Converted to large timeframe trading, scalping burned me out.


Hear ya on that.


Nice to see that things are going well for you.
Bend over and assume the position for another 4 years of hope and change.

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Postby es/pip » Mon Feb 04, 2013 5:44 am

dojirock wrote:true,

No, I tried to understand the trendsetter indi...no prevail...i have given up on long term trading..just does not work for me at this point in my life. 3cc is of some help..but its really understanding the emotions of price action. Once you finally figure that out.....it almost becomes easy. I have a rendition of space I will share when I get back from my trip if you want, I will do it on my thread so not to muddy up what MO is doing....



"but its really understanding the emotions of price action. Once you finally figure that out.....it almost becomes easy.'



:D
Bend over and assume the position for another 4 years of hope and change.

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trueblueTEX
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Postby trueblueTEX » Mon Feb 04, 2013 6:57 pm

MightyOne wrote:They are a surly group aren't they ;)


So, last night I think I read all of your BabyPips posts.

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MightyOne
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Postby MightyOne » Mon Feb 04, 2013 7:11 pm

I just use a line chart (w/ range), thick horizontal line, and the Fibonacci retracement tool.

Currently (but adjusted constantly):

-My trade chart is the 9 day which has roughly 10 bars per quarter
(a quarter is the longest duration of a trade).
-Medium term charts are 90 minutes & 6 hours
-Short term charts are 20 seconds & 12 minutes.

When Space is not large enough, as it is in the beginning, to trade a weekly+ chart then the smaller periods are used to gain Space (small time frame voodoo).

If your focus is always on a long term chart then you should never miss a large move:
Where your stops are, there your heart shall be also =)

Position <--- weekly stop
Lot Size <--- increase potential profit
Percent <--- watch the money roll in


BTW, has anyone tried the learn Javascript link under my sig.?

If so, what do you think about the site?

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MightyOne
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Postby MightyOne » Mon Feb 04, 2013 7:12 pm

trueblueTEX wrote:
MightyOne wrote:They are a surly group aren't they ;)


So, last night I think I read all of your BabyPips posts.


Not a hard thing to do, they are very few :lol:

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trueblueTEX
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Postby trueblueTEX » Mon Feb 04, 2013 7:34 pm

MightyOne wrote:I just use a line chart (w/ range), thick horizontal line, and the Fibonacci retracement tool.

Currently (but adjusted constantly):

-My trade chart is the 9 day which has roughly 10 bars per quarter
(a quarter is the longest duration of a trade).
-Medium term charts are 90 minutes & 6 hours
-Short term charts are 20 seconds & 12 minutes.

When Space is not large enough, as it is in the beginning, to trade a weekly+ chart then the smaller periods are used to gain Space (small time frame voodoo).

If your focus is always on a long term chart then you should never miss a large move:
Where your stops are, there your heart shall be also =)

Position <--- weekly stop
Lot Size <--- increase potential profit
Percent <--- watch the money roll in


BTW, has anyone tried the learn Javascript link under my sig.?

If so, what do you think about the site?


I don't want to jump the gun on this;but, I think some of this is making sense and jelling for me.

I remember a couple of years ago when I found the Blind Mouse Strategy I thought that you differed greatly from TRO and since I was trying to follow Green Rat Trading, I stayed away from the Blind Mouse thread.

Interestingly, the more I've read of what you have written, you and TRO are more similar than I thought. Not in terms of directional trading but in terms of probabilities of pip movements in a day/week/etc from extreme to extreme and once you have found yourself on the extreme, ride it for all it's worth. You two differ on the ride: space vs 2%+ gains.

EDIT: Oh, and a horizontal line. ;-)

Are you teaching the Javascript?
Last edited by trueblueTEX on Mon Feb 04, 2013 9:20 pm, edited 1 time in total.

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