montmorencyt2w
Senior member
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Candles,
I am continuing to enjoy reading about your progress with this.
If I were as consistent at extracting pips as you are, I would be
very tempted to follow hwsteele's suggestion regarding stake size.
Regards,
M.
I am continuing to enjoy reading about your progress with this.
If I were as consistent at extracting pips as you are, I would be
very tempted to follow hwsteele's suggestion regarding stake size.
Regards,
M.
BSD
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Very much agree with that.
Also, great journal candles, lovely to see you being so successful with what you're doing, and size is just a question of time provided you have the method which you do seem to have.
Btw, you can automate what hws says above to an extent on Oanda / ABN, ie under settings / trading say you always want to risk whatever % it is as a sl.
Not an exact science as stops won't always be at the same level from entry, but good enough if you don't quite treat it as an exact science.
Good trading
Very much agree with that.
Also, great journal candles, lovely to see you being so successful with what you're doing, and size is just a question of time provided you have the method which you do seem to have.
Btw, you can automate what hws says above to an extent on Oanda / ABN, ie under settings / trading say you always want to risk whatever % it is as a sl.
Not an exact science as stops won't always be at the same level from entry, but good enough if you don't quite treat it as an exact science.
Good trading
Cheers mate. You've always got nice things to say!
Just so im sure about hws's suggestion, you mean I calculate how many pips my stop is, and then work out how big to trade so that assuming i get stopped out, it will reduce my account by, for example, 2% ?
Not done much trading today. Being at work all day swings in roundabouts. As you've seen in this journal ive had a few homruns because I get into a trade with a big profit target based on my charting, and then go to work, without me watching every flicker leading me to take profits too early. However, today looks like one of them days where I would have made much more if i was at the screen. Im up about 80 pips today anyways.
i briefly explained my 'medium term' trades, where I look for various confluences (fibs, S/R etc) and I've had some questions about my recent scalping trades. Unfortunately it really is too hard for me to put into words, but i can only best describe it as trading price action/momentum on small timeframes. Assuming im still having some success in the future i will TRY to elaborate!
cheers guys
jwhite8359
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Really impressive results Candle.
Enjoying watching your journey.
Enjoying watching your journey.
hwsteele
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Not a great day. Im up about 60 pips but it really should be alot more, although its my own fault.
I put a quick short on in my lunch break (1st trade in the left of the chart) which I closed for a 10 pips scalp. Just before going back to work I put a limit order into sell if the market reached 902.1. That order got filled and was nearly the high tick , but I forgot to put in a 'profit take' order (assuming the limit sell gets hit) so I just got back to see that at one point it was offering me about 80 pips. Anyway I closed that trade a minute ago for just 30 pips or so and scalped a quick 10 pips a few seconds ago. Hope that made sense.
I put a quick short on in my lunch break (1st trade in the left of the chart) which I closed for a 10 pips scalp. Just before going back to work I put a limit order into sell if the market reached 902.1. That order got filled and was nearly the high tick
, but I forgot to put in a 'profit take' order (assuming the limit sell gets hit) so I just got back to see that at one point it was offering me about 80 pips. Anyway I closed that trade a minute ago for just 30 pips or so and scalped a quick 10 pips a few seconds ago. Hope that made sense.Attachments
montmorencyt2w
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Well done Candles. You seem to have the golden touch I won't say I'm not a bit jealous, even if you are not trading for big bucks, since just lately, every trade I take seems to fall apart. My speciality seems to be in calling the right direction at the wrong time...
It's certainly not lack of study ... maybe it's too much study.
P.S. Was that US Crude or Brent? (US I think). I'd thought about going long on it this morning....wish I had, except that then it would have gone south, not north
Regards,
M.
I won't say I'm not a bit jealous, even if you are not trading for big bucks, since just lately, every trade I take seems to fall apart. My speciality seems to be in calling the right direction at the wrong time...It's certainly not lack of study ... maybe it's too much study.
P.S. Was that US Crude or Brent? (US I think). I'd thought about going long on it this morning....wish I had, except that then it would have gone south, not north
Regards,
M.
US Crude oil i think.
I dont have the golden touch though! If I did I'd go get a bank loan and start trading with 'proper' money, lol. Im having quite a good streak at the moment. I dont ever expect to make more than say £60 a week at these sorts of stakes, and me making £200 last week was a total freek occurance really. The market is flying about and ive been a little fortunate really. Im remaining calm and wont be dissapointed when i take less profits from the market in the future.
Im done posting charts today, but ive made another 40 pips on crude since my last post and another 20 on the dow and so thats about 190 pips profit today. Very pleased with that. (hope thats not rubbing it in monte, mate ) Sound like you're having a bit of a bad spell, but if you have faith in your method and you know it makes money in the long haul, then its just a part of trading one has to accept, and you'll be back to winning again in no time!
cheers
I dont have the golden touch though! If I did I'd go get a bank loan and start trading with 'proper' money, lol. Im having quite a good streak at the moment. I dont ever expect to make more than say £60 a week at these sorts of stakes, and me making £200 last week was a total freek occurance really. The market is flying about and ive been a little fortunate really. Im remaining calm and wont be dissapointed when i take less profits from the market in the future.
Im done posting charts today, but ive made another 40 pips on crude since my last post and another 20 on the dow and so thats about 190 pips profit today. Very pleased with that. (hope thats not rubbing it in monte, mate
) Sound like you're having a bit of a bad spell, but if you have faith in your method and you know it makes money in the long haul, then its just a part of trading one has to accept, and you'll be back to winning again in no time! cheers
great day.
Chart isn't that clear today, but the important thing is that little green dot which is alot higher than my Buy! I closed half straight away for a small profit as it was in my lunch break, and let the rest run with a take profit order in (the little green dot). Place a few small shorts about 5 mins ago as you can see.
So thats about 230 pips today and about £100 profit for the week
Very pleased.
Chart isn't that clear today, but the important thing is that little green dot which is alot higher than my Buy! I closed half straight away for a small profit as it was in my lunch break, and let the rest run with a take profit order in (the little green dot). Place a few small shorts about 5 mins ago as you can see.
So thats about 230 pips today and about £100 profit for the week
Very pleased.
Attachments
80 more pips there on a short trade. I can thank one of the posters over on 'therumpledones - never lose again thread' for allowing me to run that trade to its profit target, as I was busy reading an interminably long-winded post by them, and so wasn't watching every tick and getting scared out too early like I am usually guilty of!
Over 300 pips today now and about £110 for the week, so very pleased. Fully expect some bad days soon as you cant win 'em all, but as long as I dont lose as much on my bad days as I make on my good days, overall I should be ok for now.
Over 300 pips today now and about £110 for the week, so very pleased. Fully expect some bad days soon as you cant win 'em all, but as long as I dont lose as much on my bad days as I make on my good days, overall I should be ok for now.
Attachments
bet my profit targetwont get filed. I went short near the close on Friday with a limit order to close me for 80 pips profit. The real market seems to have went there this morning, but these idiots still dont have a feed. We'll see what happenes but im expecting the worst
data feed seems to have come back. That whole episode screwed me up quite a bit but so far today im making about 90 pips profit (reall should be more like 200+ though! Profit targets weren't hit due to the data error and I didn't get a chance to re-short like I would have liked to for the same reason.)
Never mind.
but so far today im making about 90 pips profit (reall should be more like 200+ though! Profit targets weren't hit due to the data error and I didn't get a chance to re-short like I would have liked to for the same reason.)Never mind.
Very good day despite that annoying data feed loss. Im up over 200 pips. Chart would be fairly useless today because it would just be green dots (profit limits being filled) as I was short from friday with various targets.
Would have possibly been a record day of pips if it wassn't for that data feed loss
Would have possibly been a record day of pips if it wassn't for that data feed loss
