If she just wants to sit here and idle at 213.30, with me at 35 we can idle here all night. As usual once I fall asleep she is going to take off.
On the bottom @ 76.4 fib 212.42 I will buy one just above there too if she can go that low. I dont expect her to get below that tonight but who knows
she may surprise us and run down further into 211.50 which should have good support there. And I will be buying there too if I can! (if my order gets filled 
scale down further on the buy as I also keep a careful watch over how many lots I have within every 100 pips. so if I have one at 212.99 212.59 and 212.29 I have 3 in the 212ās. I dont play a full 10 lots per hundred.
she has too wide of a range and I have far too little margin in my new acct.
looks like she is heading up for a bit and I am heading away from here.
See you in London.
Chart17.zip (91.1 KB)
bearish signal justed spottedā¦try selling on rallywith SL@21390ā¦ happy pipping all:)
What ābearish signalā jumped out at you @ 2030 ET?
Iām still short from an initial 213.60, scaling in to double up earlier today @ 213.40. With the LH (lower high) established earlier today on the 1H a symmetrical triangle is forming, with support from the bottom ascending trendline sitting at ~212.75. The HL established near Londonās open on 07/21 is closed 57 pips higher than the previous low, while the LH from around the NY open was a mere 16 pips lower than the previous high, hinting momentum remains to the upside. The ascending trendline may derive further support as the triangle coils from 213. Fib fan support (@213.35, just below top descending trendline) was held early this morning and again this afternoon but then violated as NY closed and the early evening doldrums set in.
Price is finding support @ 34 EMA (213.07); if there is a close around within a few pips of there a hammer forms. This may not evolve into anything significant with the lackluster volume, but worthy of taking note nevertheless.
I have a very basic question. I am planning on opening a live account with FXSol to trade this method. I am funding it with $10,000.00. I am planning on a 400:1 leverage. What should my trading lot size be? 2 mini lots? 5? Should I go for a lower leverage and less lots or higher (400:1) and more lots?
Basically I just need to know:
Leverage for a 10k account
Trading size for these buy limit orders we place.
Please tell me in mini lot or standard lot sizes, no in actual $$ sizesā¦ I am too feeble to figure that out.
Todd
now she is āofficiallyā going up :). I am going to bed.
Thatās what my spreadsheet is for, to figure that out. With $10K I would trade micro lots, 5 micros at a time which is 1/2 mini lot. The quantity depends on how much drawdown you are prepared to take, the spreadsheet will calculate that for you. If for example you allow a 500 pip drawdown, the max number of 1/2 mini lot (or 5 micro lot) positions you should own is about 20 (20 x 5 micro lot per position = 100 micro lots).
The leverage will not make much difference to the amount of lots you can own, but I would not start with 400 ā¦ start with 100 or 200 and increase it anytime if you see margin usage is up too far.
So you are talking about a 50ļæ½ pip? So for each TP on a buy limit trade (10 pips) Iāll make $5? And I could only buy down 200 pips? With 20 orders? So the max I would make on a 200 pip run down/run up would be $100? Jeesh. Hardly seems worth it. Maybe I am missing something here, but Iād rather grow corn in Iowa than make that sort of effort for 50ļæ½. Now you see why I blew an account!
Actually, I just realized I am running my demo at $100k with.5 standard lot, which is equivalent to what you have outlined here.
You have orders spaced out every 10 pips in this example, but also TPs @ +10 for all orders: something that may ensure more orders are closed in profit, but also result in leaving a lot of profit on the table. Consider spacing your TPs out further; or staggering them (+10, +20, +10, +20, etc.); or set TP values on a graduated scale (e.g. over 20 orders: go from +10 to +50 in increments of 2), increasing the TP value as you draw nearer to your LL.
This is where changes can be made safely. Experiment with modifying spacing and take profits levelsā¦ As you know, ramping up lot size will only decrease margin availability, reducing the magnitude of drawdown you can sustain.
She is about to take off north againā¦the third leg of the corrective wave is complete or near complete at around 212.80ā¦213ā¦she is going to go up and burst through 214 on this first leg upā¦
You watch!..i know you will beā¦
inside bar or the 30min and 15minā¦she is offā¦isnt sheā¦
next stop torontoā¦toot toot
Setting up for a break out of the triangle at the open here in a couple minutes - getting an upside read, but south isnāt out of the realm of possibility. Weāll see if it comes together.
Matbe I didnāt explain myself properly. I only buy behind her on the way down within the range of my loss leader ( that is my marker). I never buy above my loss leader as I think this would be dangerous ground and yes when would you stop. Has anyone been trying the method, I would like some feed back please.
bit I would be more like .5
She couldnt get the bears to take her down anywhere ;last night eh?
I didnt figure she was going to be going south down dark alleys with bad boys!
Well, no break during a London session resembling Tokyo. A touch off the bottom ascending trendline, but then back into range, so price still lies within the triangle, apex @ 2200 ET.
Bingo! 
That is the trick ā¦ grabbing lots & lots of little pips while keeping the risk under control. Check out the other thread in this section, something about Hedging, and check out what NZPenny has to say ā¦
Actually, I just realized I am running my demo at $100k with.5 standard lot, which is equivalent to what you have outlined here.
Exactly! And me too ā¦ my demo account has that same ratio and in 7 weeks I have taken it from $500k to $916k doing nothing but grabbing those little pips, sometimes only 5 pips per trade (with 5 standard lots). You can grow your corn, Iād rather make $200+k per month :D:D
My new spreadsheet calculates that with $10k (sigh!) you can double your account every 9 weeks, or about 2 months. That turns $10k into $600k+ in one year ā¦ still want to invest in that hoe??
Slow & steady wins the race
I did advise I would not want to be short right now. And I Just plucked 15 pips from 212.99 running up a few minutes ago.
The short is not going to pan out. It is a bear trap. Look at the weekly.
She is going to trick everyone again. I am hoping for some run down into 211.50ās to load up on some longs.
The daily sure looks pathetically down, and many things look down.
But obviously study her past, rub your forhead and remember, How many times has she done this to me before? Where it looks like a 100% sure thing she is going down and not only doesnt she go down but she goes up with mad haste.
Good luck on those shorts Ihope someone can succedd in running her down so I can get some longs cheaper.