make 10 pips a day easy

This is a discussion on make 10 pips a day easy within the Indices forums, part of the Markets category; Originally Posted by Jason101 To the last five posts, I must have read it differently to you, from what I ...

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Old Jul 15, 2012, 12:45am   #16
 
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Re: make 10 pips a day easy

Quote:
Originally Posted by Jason101 View Post
To the last five posts, I must have read it differently to you, from what I read the 10 pips stop was a disaster stop and he was looking to close the trade if it went 2-3 against him?
Agree that he could be a clandestine vendor though.
i read it that way too.

"biggest stop is 20, usually 3-10pip stops."

on the vendor front we'll simply ask i simple question that remains an unanswered post on another suite of forums.

"And the cost of joining your trading room?"
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Old Jul 15, 2012, 1:16am   #17
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Re: make 10 pips a day easy

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Originally Posted by forker View Post
To state that a stop of only 10 pips will rarely get hit is a very bold statement. You have any evidence to back that claim?
It is indeed a bold statement. but a true one. I don't know what evidence i can share with you. All statements can easily be photoshopped.

All i can say to you is. Try it with a demo for a week and see how you get on.

In fact , that is what i would tell anyone who is checking out something new. Demo trade it for a while. Even if you subscribe to a new service, you would be very foolish to jump in at the start with a live account until you proved that you can make it work for you.
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Old Jul 15, 2012, 1:20am   #18
 
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Re: make 10 pips a day easy

There used to be similar lags between brokers back in the day - they got wise 'trading inside the price' is how they describe it and the latency dried up - there was a famous ' lag ' between 2 brokers in particular that I won't name as I for one took advantage of it- postings like this don't help the edge you describe and the question therefore is - Why would you share it ?- if it does exist as you suggest and everyone starts doing it - the edge will dissapear, small though it is. As some one else so well explained in another post on another thread here - there is no reward for the loss of liquidity ?



Quote:
Originally Posted by johnfox1234 View Post
Ive been trading this for the last three months.

market - ftse100
charts. fxcm mt4 and IGmarkets advanced charts.
tf - one minute


when the market is bouncing in a small range trade the gaps on mt4 for one pip scalps only. a 10pip s/l will suffice as a catastrophic loss control. it will be rarely hit.

Before you start bombarding me with RvR of 10:1. I know that already.

But so long as you trade this when the market is ranging and you have checked for any uk related news not coming out, then you can easily pick off 10pips.

IF you see a gap on fxcms mt4 you need to confirm it on igmarkets advanced chart. It must be a minimum of 0.5 of a point on that chart too.

open a demo with fxcm, set the dealing window trading settings to 'single click' and limit of 1 (one). when price goes two pips away from a gap trade it. never trade for the gap to be closed. only to the edge of the gap. Often price will only come to the edge then bounce off.

This will make you money. i use it every day. from 10am-noon UKtime .
dont get greedy. 10pips a day is 50 a week and thats 200 a month. trading at a tenner a point gives you £2k/month. small bites at the cherry.

Have fun
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Old Jul 15, 2012, 1:33am   #19
 
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Re: make 10 pips a day easy

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Originally Posted by bbmac View Post
There used to be similar lags between brokers back in the day - they got wise 'trading inside the price' is how they describe it and the latency dried up - there was a famous ' lag ' between 2 brokers in particular that I won't name as I for one took advantage of it- postings like this don't help the edge you describe and the question therefore is - Why would you share it ?- if it does exist as you suggest and everyone starts doing it - the edge will dissapear, small though it is. As some one else so well explained in another post on another thread here - there is no reward for the loss of liquidity ?
i didn't think this was about lag anywhere? the second broker feed is to be used to confirm the gap, and not to identify any price differential, have i read it wrong?
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Old Jul 15, 2012, 1:34am   #20
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Re: make 10 pips a day easy

johnfox1234 started this thread nothing to do with 'lag' just to do with equilibrium. The markets always need a balance. To me its as simple as that. Learning 'price action' techniques will give you a trading edge which you can take advantage of. that doesnt mean that the price action will change because people are making money from it. Apologies if i misunderstood you.

Re- the clandestine vendor thing, i get it. Really, i do. i see it all over these forums. Yes i run a daily trading room, yes i charge for it. The reason i started it was because people requested it off me. I really am offering this thread as a way for you guys to improve your trading styles and hopefully to prevent new interested people from losing too much in their learning process. I blew a lot before i learnt to trade properly as most people do. but most people give up. and usually after they have accumulated a lot of skills and often just before they can turn their trading into a profitable venture.

So please dont be too negative, constructive criticism please. And lets work on honing out trading skills.
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Old Jul 15, 2012, 1:37am   #21
 
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Re: make 10 pips a day easy

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Originally Posted by johnfox1234 View Post
nothing to do with 'lag' just to do with equilibrium. The markets always need a balance. To me its as simple as that. Learning 'price action' techniques will give you a trading edge which you can take advantage of. that doesnt mean that the price action will change because people are making money from it. Apologies if i misunderstood you.

Re- the clandestine vendor thing, i get it. Really, i do. i see it all over these forums. Yes i run a daily trading room, yes i charge for it. The reason i started it was because people requested it off me. I really am offering this thread as a way for you guys to improve your trading styles and hopefully to prevent new interested people from losing too much in their learning process. I blew a lot before i learnt to trade properly as most people do. but most people give up. and usually after they have accumulated a lot of skills and often just before they can turn their trading into a profitable venture.

So please dont be too negative, constructive criticism please. And lets work on honing out trading skills.
if you charge for the room, then you need a vendor badge.

go get your badge of shame
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Old Jul 15, 2012, 1:41am   #22
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Re: make 10 pips a day easy

johnfox1234 started this thread why is it shameful to charge? or perhaps you are messing with me. I suppose you go to work and dont expect any wages at the end of the month.
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Old Jul 15, 2012, 1:50am   #23
 
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Re: make 10 pips a day easy

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why is it shameful to charge? or perhaps you are messing with me. I suppose you go to work and dont expect any wages at the end of the month.
yes just messing john, the badge of shame is just a forum in-joke.

but i think you do need one.
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Old Jul 15, 2012, 2:35am   #24
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Re: make 10 pips a day easy

johnfox1234 started this thread [QUOTE=

but i think you do need one.[/QUOTE]

Everyone to their own i suppose. But give me a chance eh? Make a judgement after a month or so. I will quite happily leave if nobody is learning anything from the discussion.

Your humble servant.... John
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Old Jul 15, 2012, 3:06am   #25
 
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Re: make 10 pips a day easy

er well no john it's not each to their own, it's a forum rule actually.

but no matter to that at present, when a mod is about they'll just stick one on you or should do at least.

just focus on your gap strategy for now. there's plenty out there on opening gap strategies, but not so much at all on intraday gap plays, so could be an interesting discussion
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Old Jul 15, 2012, 3:07am   #26
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Re: make 10 pips a day easy

johnfox1234 started this thread here is my personal overview of the market and what i expect to trade tomorrow.

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Old Jul 15, 2012, 3:19am   #27
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Re: make 10 pips a day easy

johnfox1234 started this thread
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Originally Posted by Lightning McQueen View Post

just focus on your gap strategy for now. there's plenty out there on opening gap strategies, but not so much at all on intraday gap plays, so could be an interesting discussion
Not sure if there is whole lot more to be discussed about the gaps. They are only one pip gaps that appear on the 1M feed. Need to be confirmed by a minimum 0.5 on igmarkets charts. when price goes 2pips away from it,trade it back to the edge of the gap. Its not difficult to check it out. Some gaps appear on a quick move up due to a news release, these gaps will be filled but you dont want to trade when the market is in a big move, so exercise caution for these quick swing gaps. when it is trading in a tight range is best.
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Old Jul 15, 2012, 3:21am   #28
 
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Re: make 10 pips a day easy

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Originally Posted by johnfox1234 View Post
what i expect to trade tomorrow.
if you are looking for gaps when they appear, how on Earth can you have any forward expectations at all ?
surely, on a 1m tf, you have to stay glued to your screen, waiting for these elusive gaps, wherever & whenever they appear ?
or are you now saying you have a directional bias, a trade qualification you didn't mention in your original post ?
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Old Jul 15, 2012, 3:30am   #29
 
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Re: make 10 pips a day easy

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Originally Posted by rathcoole_exile View Post
if you are looking for gaps when they appear, how on Earth can you have any forward expectations at all ?
surely, on a 1m tf, you have to stay glued to your screen, waiting for these elusive gaps, wherever & whenever they appear ?
or are you now saying you have a directional bias, a trade qualification you didn't mention in your original post ?
i think we've possibly moved on some and on a different tack? maybe connected? and we'll have to wait for monday? interesting vid though.
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Old Jul 15, 2012, 3:32am   #30
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Re: make 10 pips a day easy

johnfox1234 started this thread
Quote:
Originally Posted by rathcoole_exile View Post
if you are looking for gaps when they appear, how on Earth can you have any forward expectations at all ?
surely, on a 1m tf, you have to stay glued to your screen, waiting for these elusive gaps, wherever & whenever they appear ?
or are you now saying you have a directional bias, a trade qualification you didn't mention in your original post ?
If im trading a larger move then i will quite happily put on a trade in the opposite direction to trade a gap, depending on the speed of the move to my target.

I think you are confused because i will have a trade on long and short at the same time. Yes it is true you need to monitor the situation. but i only trade for about 2 hours a day.

In my gap post, i mentioned a trading system which is only trading gaps. I trade it with my other analysis too.

I dont explain in the video how i trade the bigger moves. the way i do it is to place several trades on at one time. so i will put one or two for the full distance, but i will scalp all the way to the target, those scalping trades give a far greater profit amount than the single move trades. If i see gaps appear i will trade for those too if price is not moving too fast - even if it means trading in the opposite direction of my target. hope that explains what i do.
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