Don4

What type of trader are you? Who is profiting from your loses? http://www.traderslaboratory.com/forums/attachment.php?attachmentid=1705&stc=1&d=1181692931 zerosum.pdf

Stops was hit on todays trade.

This morning tp was hit ,now im short with a tp of 1.9670. No problem cowpip, Thats pretty interesting Pyenner!

Walter, right now i have so many ideas running through my head,I know it has to be kept simple,momentum would be the main key, but staying power would be another(above support,below resistance). Ill have to go back and look at some charts and ponder on it a bit .But yea the tricky part is going to be entry of the second half. I guess the main concern is protecting the profits of the first position whether its scalper exit or zero cross of the cci. if price starts to retrace back and finds some support you could reenter at the exact price that you exited your first position as long as it was out side the white band.(Limit order or what ever)If your order is triggerd you know that momentum is still on your side(not that its a garentee) These are just some ideas,ill try to post some charts in the morning.

Yea i know what your saying, I dont want to take something simple to use and make it difficult! But im only trying to capitalize on some of these huge moves in forex. My entry would be the same (just a little less risk at first) my exit will be the same (super runner). Just for instance i took a trade 7 hours earlier with a 7 pip stop, its still running. That pretty amazing in itsself. The longer it stays above the better chance i have of hitting a pretty good move. I like playing probabilitys, 1 pair 1 setup and trade it everytime i see it. But ive been wrong many times before. And I know the win% wouldnt be anything to brag about but the RR would be awsome:) Whats your thoughts?

Ive been long all morning,very close to being stoped out twice but its still running looking for tp of 1.9744.

Hey walter,ive been trying to figure something out with money management too. The 50/50 scaling out works really good when u catch a big move but when u lose 2 to 3 in a row plus commission it really starts to add up,so scailing in maybe would take the sting out of that string of losers. here is what ive been doing, instead of putting the whole position in at first only use half and make sure that the trade is at least going in your favor,if you lose that trade no big deal because u only risked half of it anyway,it would auctually give 2 chances compared 1 to hit that super runner. If the trade does go in your favor exit the scalper position (lock in some profit) then add the super runner. At least you know that momentum is somewhat on your side.

Well walter, i was watching this trade when i was at work, got home a little over an hour later and look what happened.

maidigger,are you talking about somithing like this, as for me i wouldnt take the trade as momentum would be gone ,but maybe walter will shed some light on the subject.

Ok,after last week here are my total numbers. Total Pips- +105 Equity- +7.88% Win%- 36.96%

But this was a flip on thursday, this move started about 1 hour before the close of the london session. Notice there was no euro news of any kind. 8:30am USD Unemployment Claims 309K 315K 310K Medium impact 10:00am USD Wholesale Inventories m/m 0.3% 0.3% 0.4% Low impact 3:00pm USD Consumer Credit m/m 2.6B 6.0B 14.0B Low impact

Hey walter,The vertical lines is when the news was released in order (on chart) Actual Forecast Previous 1:00am JPY Eco Watchers Survey 46.8 50.1 49.7 Low impact 2:00am EUR German Trade Balance 15.0B 15.0B 18.5B Low impact 2:45am EUR French Trade Balance -2.8B -2.0B -1.6B Low impact 4:30am GBP Industrial Production m/m 0.3% 0.2% 0.2% High impact 4:30am GBP Manufacturing Production m/m 0.3% 0.2% 0.6% Medium impact 6:00am EUR German Industrial Production m/m -2.3% 0.4% 0.2% Low impact 6:00am EUR Composite Leading Indicators m/m 110.0 110.0 Low impact

Here would be another good example of the flip with the 50/50 super runner rule, that happened friday. I know its easy to go back in time find these setups. (just showing the potential)

Ok, makes since. Thanks walter!

One more thing, this flip that happened today presented two different types of trades back to back just wanted to get your thought on what you would consider more valid. The first one would be more aggressive but less risk because of stops could be placed fairly tight below support. The second would be less aggressive but greater risk because price would be so far away and stops would have to be above support.Your thoughts!

walter,these are some great ideas, i think next week ill play around with the 50/50 idea and see how it works out. One thing though you think it would be best to close the first position on the scalper or close on the cover of the stoploss + commission to get that free trade? Just wondering.

Today wasnt a good day, think i was like 1 for 6. But it was my fault,the flips were there. I was just trying to scan to many pairs at 1 time and being a little to aggresive. The one that i did hit i closed half my position at 10 pips and had stoploss at 6 so i was already in a + trade. And i told my self that i wouldnt touch it i would just let it run and see what happened but ended up closing it out for 8pips.(still learning this setup)

Well again no trades, but at least its starting to show some life.(gbp/usd)

walter the +1 pip is between the bid and ask,but it does fluctuate some depending on the liquidity.on average the major pairs run from 1 to 2 pips but you can catch them at even quite a bit. You can trade between the spread. Yea,the lsma can be quite accurate at picking the tops I will start looking at that a little harder.

Here is a list. Commissions are based on total dollar amount traded.doc

Hey walter thats great to hear, looks like you may be demoing efx now but not sure, if u are their free charting lags quite a bit compared to auctual price. They are suppose to release their new charting package sometime this year. Commission is my only gripe with them they are high you pay when u enter a trade and when u exit, but i believe if u trade over a certain amount they will cut u a break on commision. I had a lot of problems with there demo,but have not had any with their live platform. Just wanted to let u know,hope u make many pips!!!

Since my last post i took two more trades, The first one i had a very aggressive entry almost right at the support line ,closed half my position at +5pips and left the runner till cci crossed the 0 line for +5 pips. Second one was a pictue perfect setup closed half my position at +5 pips but cut the runner short for +10 pips.

walter, no generally i do not scale out,im usually in till either take profit or stops are hit once im in a trade. But for some reason i didnt feel comfortable doing that with this set up. Although i usually trade much larger timeframes, I really enjoy trading this setup on the 1 min charts. What i was testing, for instance say i had a 5 pip stop in place depending on the commission (its different for different pairs) i would wait until i would be able to cover the stops and the commmission say +6 pips from there i would close half my position leave my stops inplace (and not auctually move my stops up to breakeven) seems like it gives it a little more room to move. and then just monitor the other half until i thought it was time to close or just happy with the results. Any opinions?

No trades today.

I have been using it on 1 min charts,and i have not altered anything, but i am trading forex. Hope this helps.