Not the "Holy Grail", But Consistent Easy Profits

[FXBrokerRatings]

CAS, You are right with your math and thank you for another perspective. I was using those SIMPLE examples because they offered a little of everything, that I look at, WHEN I LOOK for a trade. I look probably once a week. I got tired of sitting in front of my computer all day looking for trades and when I didn't find any for a while, trying to make something happen and losing. Also, When I have up to twenty positions open, if I get into micromanaging them, I'll lose my mind. I let them do what they want because they will, I just go along with the flow. I'm still making good money, and out living my life.

You mentioned interest. Sometimes you pay it and sometime you get paid it. I don't factor it in when I trade the majors because the interest charged, or paid, is miniscule.

I gave simple examples with reverse correlated pairs, my bad. I just wanted the concept to be understood. Apperently my audience may be a little more advanced, but unfortunately my trading strategy isn't so here's another chart.



This is the current weekly GBP/NZD. The color coding and shapes are the same as above. The first trade profited about 2000 pips over about 20 weeks=20 pips per day + 3% rollover per day. The second trade was about another 2000 pips over 18 weeks=22 pips per day + 3% rollover (I don't care to know how to figure the actual number related to pips) per day. Third trade another 2000 pips over 18 weeks ( there is a patten developing) 22 pips per day minus the 3% rollover. So cancel the rollover I gained in one of the previous trades and I'm still up on rollover. Trade 4. About 4000 pips in 25 weeks. 32 pips per day. Paid on the rollover.

Time I looked at this position per week (5 min) x total weeks (81=1.5 years roughly) = 405 min / 60 = 6.75 hours of face time this instrument received in a year and a half. 10,000 pips in that 1 1/2 years or 6.75 hours face time. 10K/6.75= 1481.48 pips/hour of face time for that instrument and ahead in rollover. I'll take it! Numbers are fun.

I'd say with all the positions I have open at any point in time probably take 2 hours of my time per week, instead of days and days like they did before.

Trade how you may... I've got things to do.

[xtraction]

Originally Posted by cas

Whoever advises that to newbies isn't telling the whole story.

You take your TF of choice.

You need to know what's going on at least 2 TF up from your chosen TF.

Smart people know what's going on 2 TF below from your chosen TF as well.

So in fact you are trading up to 5 TF.

Real smart people know what's going on with correlated pairs as well in their respective TF.

Traders are fooled by charts based on different time frames. The 1 minute chart tells me the same thing as the daily chart and that is where price is relative to any previous point in time. All higher time frame charts do is compress more data into the same amount of space on your screen. What you really want to know is whether price is retreating from the highest point over a given span of time or moving toward it. Substitute lowest for highest if you like, it doesn't matter.

[xtraction]

Originally Posted by FXBrokerRatings

Time I looked at this position per week (5 min) x total weeks (81=1.5 years roughly) = 405 min / 60 = 6.75 hours of face time this instrument received in a year and a half. 10,000 pips in that 1 1/2 years or 6.75 hours face time. 10K/6.75= 1481.48 pips/hour of face time for that instrument and ahead in rollover. I'll take it! Numbers are fun.

I'd say with all the positions I have open at any point in time probably take 2 hours of my time per week, instead of days and days like they did before.

Trade how you may... I've got things to do.

Please post your next entry, as soon as possible, so it can be studied and tracked.

[FXBrokerRatings]

Originally Posted by xtraction

Please post your next entry, as soon as possible, so it can be studied and tracked.

I will do that, and that has been the plan, to start a log of what I am doing, that is one of the reasons I started this thread.

From the looks of it in a couple weeks it will be long on GBP/NZD. If something else comes up before then, I will post it.

From now on I will post my open and close, and every trade I open from this day will be updated (Start anew, Create a list of what is going on in my accountand update it with every open and close.) . It will be a good tool for me and everyone, see how many pips I can rack up this next year starting from today.

[aaron3719]

i take it you must have a pretty big account to do this right?

Originally Posted by xtraction

Traders are fooled by charts based on different time frames. The 1 minute chart tells me the same thing as the daily chart and that is where price is relative to any previous point in time. All higher time frame charts do is compress more data into the same amount of space on your screen. What you really want to know is whether price is retreating from the highest point over a given span of time or moving toward it. Substitute lowest for highest if you like, it doesn't matter.

"Sunshine", if you trade "Alive in Wonderland"...it's your choice. Not my problem.

You have never in your life risked even 1 dollar in a live trade. If you had you wouldn't post the nonsense you are posting on this board.

I have asked you once before how it feels in that box of yours...?

I am still waiting for an answer.

The lower the TF...especially 1m are nothing but noise. PA can motor down the chart on 5m, up the chart on 30m, down the chart on 4h and up the chart on 1d.

Taking your nonsense what you have posted as determinator for PA I would never be able to establish where price is actually heading.

As you have posted in another thread...out of your "Alive in Wonderland" trading world...rejecting all commonly excepted trading terms...that box you're in must really be one hell of a box.

[Letseethepips]

Look forward to your entrys. Cas always liked that avatar and movie.Stephen Chow should have come out with a sequel before he gets to old.

[FXBrokerRatings]

Happy Thanksgiving Everyone... I'm still holding out on entering a buy on GBP/NZD. It is currently hovering around its lowest value ever (as far as I can tell, my chart only goes back to 1997). So I am keeping a close eye on it. For those out there that are gonna tell me that the lowest low means nothing, it can go lower, I know. But, I do believe it has reversed, 6 weeks ago and will continue to develop a bull trend. The next couple weeks will be the deal maker. Here's a chart so you don't have to look it up.



Happy Thanksgiving.

[aaron3719]

hey FXbroker, how has this strategy been working for you? is it satisfactory? what kind of lots are you using?

[FXBrokerRatings]

Just made the trade on GBP/NZD that I have been predicting would be the next one. Long @ 2.285720, SL starting at 2.265 and will eventually convert to a big TS once into profit a ways. Looking for a 2.55 TP in about 8-10 weeks but will, as always, play it by ear.