Robert, I should have got that big move. That’s your classic move back into and across the tunnel!
Well that was an interesting message I got from Used. Too bad I can’t respond here. 
war did he say :p?
Nothing constructive or usful that’s for sure. Something about being a 20 pip knuckle head and not cut out for trading. What a nitnoid. He doesn’t know me very well. Funny. I’m a good code slinger because I think like a computer. And acomplished artist, a musician, a plumber, electrician, carpenter, fly airplanes (single engine cesna), dabble in relativity, quantum mechanics and cosmology for fun.
(quantum mechanics use jumper cables <–geek joke) LOL
I’ll master forex the same way I master everything else I focus my attention on. It’s only a matter of, as Carter said… time and pressure. 
so Slainte to the 20pips knuckle head
WOW, he said that? I never had much respect for him in the first place but now its just gone completely. I cant believe someone goes out of their way to send someone a PM to say that lol. I guess I can be expecting one soon too :p. Sooner the better, I could use a good laugh.
Well my previous post was unrelated to the thread or forex. Just tootin my own horn a little. Why? because I can!
The computer brain Vulcan side of me fails to find any logic in his behavior but…
as we would say down here in the south… Bless his heart.
Just so this post has something forex relate - did your breakouts work today? lol now for some non related stuff, your in the south? I always thought u were in the NE.
Whew, OK, that massacre day is finally over. Things did not start off well with an absolute holocaust of losses due to both GU and UCHF getting triggered for losses on both the small-TP trades as well the trailing stop trades.
To recap, here are the results of the small TP trades:
GBP/USD = 30/20 Short triggered, -33 pips
EUR/USD = 26/17 Short triggered, +17 pips
USD/CHF = 20/13 Long triggered, -22 pips
EUR/GBP = 14/9 Short triggered, +9 pips
EUR/JPY = 29/19 Long was triggered, trade was closed*
USD/JPY = 17/11 Long triggered, +11 pips
AUD/USD = 17/11 neither entry orders triggered, orders closed
NZD/USD = 15/10 Long triggered, +10 pips
*I closed EJ since I was awake by this time and thought I saw price stalling out and falling significantly back. I eventually closed it at BE even though I continued to watch the pair and saw that it did, in fact, go on to hit the original TP point.
In addition to the above I decided to try trailing stops, but only in the direction of what I thought could be ongoing trends. I chose the following pairs:
GBP/USD = -30 Short TS, end result -29 pips
EUR/USD = -26 Short TS, end result -4 pips
USD/CHF = -20 Long TS, end result -20 pips
USD/JPY = -17 Long TS, end result +1 pip
Thankfully, I decided to take advantage of the smaller calculated stops on pairs like NU and EG by increasing the number of lots in those particular trades. The big losses (particularly on the GU trades) were on those trades with the smallest lot sizes.
In the end, despite a bad day (-60 pips), the net loss was actually very manageable. In fact, had I not closed EJ at BE I would have finished the day down only about $6. I was also manually managing UJ at the time it hit TP and began losing momentum. Had I closed the trailing stop trade at the same time I would have broken even on the day. Considering the devastation caused by the GU and UCHF trades, that would have been remarkable.
It should also be noted that (given the differences in the lot sizes mentioned above) - if I had not used any trailing stop trades - I would have finished with profits again today using hi-lo, even though the overall net pips of the smaller-TP trades were -8.
John (Merchantprince)
[I]“Nobody can be exactly like me. Even I have trouble doing it.”[/I]
Maybe that whole trailing stop idea wasnt a good idea
Ya think? :eek:
[B]Wow! I saw the message “used” sent to you…
"[/B][I]TalonD, you are a “20 pip knuckle head” with loose plans & you will stay a “20 pip knuckle head” with loose plans.
No chance in hell that you approach to trading the Daily HiLo will work.
Some simply aren’t cut out for trading.
It is a simple as that.
Keep it up with the “smuck rats” in here & their rat hole. BP’s “smuck rats” in here messed with the wrong guy [ICT] & they got it dished out[B].
Anybody who has NOT seen what’s happening in here is beyond hope![/I][B]"[/B]
I’d say it’s a pretty offensive comment to make just out of the blue…:eek:
I don’t think “used” was ever keen enough to realized that you have a full-time job. And any strat you trade is secondary to your obligation to get some sleep before going to work. LOL
Oh well, like Robert said, “time and pressure”!
PS I always wondered if used wasn’t Cas reincarnated??
I was only set on GU last night and didn’t get triggered but like I said earlier, often when that happens, price will retrace a long ways on through yesterdays center… so a trading opportunity there, just got to figure out how to get set up for it.
I’m in Georgia actually. Not a city slicker but not a redneck either. Somewhere in between. This town is referred to as the crossroads of Georgia which puts me in mind of that old Robert Johnson song.
I tried trailing stops also and they are too tight. I think the best thing to do is close out partial positions and then move stops to break even and then maybe set a trailing stop. All of which requires being concious at the time (still using Oanda, no metatrader).
d-pip
I think he likes to try and press peoples buttons. Maybe that’s the only way he can well nevermind. lol
which reminds me of a Shakespear quote from Hamlet
“Why, look you now, how unworthy a thing you make of
me! You would play upon me; you would seem to know
my stops; you would pluck out the heart of my
mystery; you would sound me from my lowest note to
the top of my compass: and there is much music,
excellent voice, in this little organ; yet cannot
you make it speak. 'Sblood, do you think I am
easier to be played on than a pipe? [B]Call me what
instrument you will, though you can fret me, yet you
cannot play upon me.”[/B]
Relevance to forex:
“Neither a lendor nor a borrower be”
–also by Shakespear.
Ya, trailing stops werent a good idea :p. Btw, I suggest you guys try looking at the 4am Est candle. I noticed that doing a breakout of that lone candle works pretty well.
Another thing, does anyone know which tests you have to take to become a fund manager? I’ve already taken like 4 different practice tests for series 86, and the CMT level one and two exam and scored very well. I figure I might as well figure out which ones I need to take and get it out of the way.
Around that time of morning seems to be when everthing happens. Europe open and London open first few hours.
This quote was somewhere near ICT’s first few.
“Originally Posted by InnerCircleTrader View Post
Well the thread was aimed at New Trader’s expectations. The concept I presented was based on only one trade per week, targeting a 20 pip gain on 2% of equity, as merely a suggestion to build wealth versus Forex bang to broke.”
He didn’t call ICT a 20 pip knucklehead…
Looks like your short on GBP/USD would have triggered recently :p, I missed like 3 trades on this pair today totaling a missed 15% gain. 
Dang I missed it. Should’nt have closed my orders, thats hindsight for ya. What I normally do is close any open orders around 7am est, well EDT now. because most of the action has already happened by then. But maybe it would be better to keep them open from 17:00 to 17:00 EDT
Ya, Id say keep them open for longer lol. Maybe close them a couple hours before the new day?
Just for that im gonna send you a nasty pm insulting you :mad: LOL, im joking. I guess the one good thing about it was that he did it via PM, but still.