40-100 pips aday trading system

This is a discussion on 40-100 pips aday trading system within the First Steps forums, part of the Reception category; Originally Posted by TheBramble That said, your second chart (and I note you appear to be using Stochs on divergence ...

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Old Aug 14, 2007, 4:57pm   #41
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Originally Posted by TheBramble View Post

That said, your second chart (and I note you appear to be using Stochs on divergence with price which has historically proven far superior to the more standard overbought/oversold rules) shows you taking a trade when the Stoch was at the 50 level and flat Ė so outside of Jimís method. A valid trade and a good one, but nothing to do with Jimís methods.
Go on then Tony, you got me bang to rights!

And yeah, if the dude tightened his stoch's or whatever else he wanted to supplement his bar prints with, to observing divergences around key prints at/or around the key supply-demand zones, undoubtedly he'd lower the potential risk of a blowback.

I agree with your points re: prep & presentation - he could have primed his walk onto the stage with a slicker pitch, but he aint got such a bad template to be honest. I've seen a whole lot worse, & some of it actually turn a profit LOL.

I guess we'll have to agree to disagree over what's deemed important JTrader.

I don't consider a $50 slideshow into a workable strategy a whole big hanging offense. Not in this goddamned industry anyhow.

Give the guy a break - in fact if he asks real nice I'll consider shaking the kinks out of his little strategy & pumping the crap out of it LOL
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Old Aug 14, 2007, 5:57pm   #42
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Originally Posted by JTrader View Post
Well spotted TB the stoch level was at 50 on this mornings chart.
Goddamit, I'm suffering from your affliction today JTrader (got too much time on my hands) That's a shake of humor before you go chasing me with a black hood & rope handcuffs!

You fella's allow me to swap that bad attitude Cable chart for this Geppy one?

C'mon Jim lad, get your fat cat lawyers to drum up a watertight contract, & lets get to thowing this baby around a little

There's a whole stack of kids out there, eyes wide to burstin, pockets hanging south with shiny $ bills & heads swimming with fancy idea's!

Best get another suite of rooms booked - we'll have ourselves a queue forming by 1st light!
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Old Aug 14, 2007, 6:40pm   #43
Joined Jul 2003
Ampro, you're going to turn young JT's head with all that fancy talk and pristine charting action.

You set the fee level yet....? Swap you a Darksiders Guidebook.
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Old Aug 14, 2007, 6:44pm   #44
Joined Dec 2002
Wink Re: 40-100 pips aday trading system

Two things I'll never pay for - sex, or trading strategies .
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Old Aug 14, 2007, 6:50pm   #45
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Originally Posted by ampro View Post
Goddamit, I'm suffering from your affliction today JTrader (got too much time on my hands) That's a shake of humor before you go chasing me with a black hood & rope handcuffs!

You fella's allow me to swap that bad attitude Cable chart for this Geppy one?

C'mon Jim lad, get your fat cat lawyers to drum up a watertight contract, & lets get to thowing this baby around a little

There's a whole stack of kids out there, eyes wide to burstin, pockets hanging south with shiny $ bills & heads swimming with fancy idea's!

Best get another suite of rooms booked - we'll have ourselves a queue forming by 1st light!
Thnaks ampro

just what this thread needs - example screenshots!

No doubt that it does work nicely, as does all of TA on its day.
My skepticism is/was regarding how does the IB/stoch help make the 40-100 pips EVERY day.....but i now see several other additional discretionary decision making aids are included also......
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Old Aug 14, 2007, 7:00pm   #46
Joined Mar 2005
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Originally Posted by TheBramble View Post
You set the fee level yet....? Swap you a Darksiders Guidebook.
Ha ha ha, I'm keeping it zipped Tony till Jim & his shiny suited mercenaries come knocking! I'll likely weaken my negotiating power if I get to hot-airing $$'s too much on public bb's But those fee's will indeed be handsomely high!!

I need to see the color of their eyes & smell the flavor of the commissions before setting the mic up in his skype domains.

Darksiders guidebook huh? That old classic still in print?! LOL.

I'll bear it in mind for future reference
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Old Aug 14, 2007, 7:15pm   #47
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Originally Posted by JTrader View Post
No doubt that it does work nicely, as does all of TA on its day.

My skepticism is/was regarding how does the IB/stoch help make the 40-100 pips EVERY day.....but i now see several other additional discretionary decision making aids are included also......
Yeah, I hear ya.

I haven't really looked at it properly JTrader, merely speed read it & hauled those examples up on the run.

Like you rightly say, most of this sort of stuff works a fair lick of time. If it's engineered sensibly at or around key psychological (reactionary) levels & it stands up to decent bar/candle observations, then you got a head start on most of the poorly designed & presented crap out there.

FX is a pretty emotive instrument class & a busy old dance hall. If you got a robust set of tools & a steady, stable mind, you can negotiate in & around the big players battleships pretty safely.

Too many folks attempt (too often) to swim against the rough tide when trading these instruments. That + running skinny stops & gunning on ill conceived action plans is a recipe for disaster in my view.

Like I say, Jim has himself the raw basis of a workable set of tools. It's simple, & light on indicators (always a good ploy). I don't guess he'll have too much trouble returning a wage if he plays the levels & zones sensibly!
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Old Aug 14, 2007, 8:32pm   #48
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Smile Re: 40-100 pips aday trading system

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Originally Posted by jim123 View Post
............

Here goes when the IB forms look at stocks if its high around the 80 mark crossed or hooked over then take a short when the trigger candle the 3rd candle in the group passes below the IB by 1-2 pips use fibs to look for a possible profit target. if stocks head to the 20 area in a strong trend they could stay there i while does not matter but if they turn and hook up and go back over 20 then look for a new IB.to go long thats the simple styal but i teach diffrent set ups to aviod fake trades. and if you trade on your own 30 min to 1hr time frame is good i use 15 in traning but yes it is a bacis but the idea is very basic and simple but we use fibs and trends lines when the guys are new but its teaching how to use price action.

Hope this helps


Jim
Hi Jim

this bit of explanation helps a bit further.

Thanks.

PS. sorry if i was rude B4 .
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Old Aug 15, 2007, 7:59am   #49
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This one was pointed out to me when I got in this morning. Geppy set-up from late y'day. I think I remember reading he observes the important & popular level activity, which certainly includes round (00's) numbers, especially butting obvious s&r line behaviour.

As with any form of tech activity, where it occurs & how the bars stack up with accompanying (herd activity?)information will often tip the nod as to the trade potential. Patience is the big driver with these type of strategies. Keep the powder dry until the big fat momma waddles into view!

I guess he & his disciples pretty much look for this type of action, especially in strong directional flows? If they don't, then it would be prudent to. Maybe he'll let this audience in on a little more info if he has a mind?

Anyway, there it is. I better get to work & see if I can't bank a few pips today.
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Old Aug 16, 2007, 7:55pm   #50
 
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Two things I'll never pay for - sex, or trading strategies .
so you won't be coming out to bangkok soon ? to buy a trading strategy i mean .....
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