good morning everyone, i took 2 short trades in the GJ…both filled great. +70 +20…also i see how much trouble EU is having at these levels, i moved my stop loss to 1.4301…i will post these pips for yesterdays totals.
DECEMBER 16TH’S GRAND TOTAL: +175 PIPS
16 DAY GRAND TOTAL: +2,846 PIPS
P1PTRAD3R
took first trade today, long GJ for a +16
DECEMBER 17TH’S GRAND TOTAL: +16 PIPS
17 DAY GRAND TOTAL: +2,862 PIPS
P1PTRAD3R
took 2 more trades in GJ for a +20 +20
DECEMBER 17TH’S GRAND TOTAL: +56 PIPS
17 DAY GRAND TOTAL: +2,902 PIPS
P1PTRAD3R
i didn’t get a chance to post the rest of my trades here yesterday, so here they are. I took 5 shorts in the GJ for +10 +21 +20 +15 +15
DECEMBER 17TH’S GRAND TOTAL: +137 PIPS
17 DAY GRAND TOTAL: +2,983 PIPS
P1PTRAD3R
my stop loss was also hit yesterday for a -1800 pips in my EU shorts. I must say i usually do not move my stop loss, but with having such a great month so far i did fall into the pits of my own emotion. I did believe that EU was going high to fast, and that a retracement was inevitable.
But you must realize this is why my system works so well. I trade everyday and gain a realized profit of 100-200 pips each and every day. So when that one positoin that ends up hitting my stop loss i am still averaging well over 1,000 pips in profit each and every month.
[B]17 DAY GRAND TOTAL: +1,183 PIPS[/B]
P1PTRAD3R
now back to trading, i took 2 trades in the GJ +20 +20
DECEMBER 18TH’S GRAND TOTAL: +40 PIPS
18 DAY GRAND TOTAL: +1,223 PIPS
P1PTRAD3R
took 2 more trades in the GJ on the long side. +20 +10
DECEMBER 18TH’S GRAND TOTAL: +70 PIPS
18 DAY GRAND TOTAL: +1,253 PIPS
P1PTRAD3R
took 3 more short trades in the GJ, for a +20 +20 +20
DECEMBER 18TH’S GRAND TOTAL: +130 PIPS
18 DAY GRAND TOTAL: +1,313 PIPS
P1PTRAD3R
took a long scalp in GJ for a +20
DECEMBER 18TH’S GRAND TOTAL: +150 PIPS
18 DAY GRAND TOTAL: +1,333 PIPS
P1PTRAD3R
took another short scalp for a +20
DECEMBER 18TH’S GRAND TOTAL: +170 PIPS
18 DAY GRAND TOTAL: +1,353 PIPS
P1PTRAD3R
I’ve also lost about 10% of my account in my long euro positions today because of the trend change, but still positive on this month. Since it was on a mini account, it was no big deal anyway.
But your system seems to be very profitable. I started using heiken ashi now, and it seems to help a lot in preventing me to take wrong positions because of some “noise” on the market’s waves.
I’m subscribed to this thread. Nice job there.
Thanks 
Leonardoa,
GREAT to hear you profitable this month!
the euro slammed a lot of traders i know, tough trade there. Thats great that you are still in the green for the month. That is the main goal is at the end of the month you can post a gain, you are doing great!! Heikinashi with the help of pivots, help to keep me disciplined and patient. Couldn’t trade without them on my charts.
[I]By the way for everyone else, feel free to ask questions in this thread… and if you would like to know more about a live trading room, email or private message me.[/I]
[B]P1PTRAD3R[/B]
i took 2 more trades yesterday and they filled a couple of hours later. took a +20 +20 (will post these pips with yesterday totals)
DECEMBER 18TH’S GRAND TOTAL: +210 PIPS
18 DAY GRAND TOTAL: +1,393 PIPS
P1PTRAD3R
Hello
I’ve been following your method with great interest. Couple of questions regarding charting:
Are you using the Pivot Points on the Oanda charts? And on which timeframe?
I think I read in your thread that you plot Support & Resistance levels, do you determine your own S1 S2 S3 R1 R2 R3 etc. ? I’ve been trying to use the levels for GBP/JPY off of FXStreet.com but I’m not sure about the best timeframe to apply them to. Do you mainly concern yourself with the largest timeframe? It’s 15 minute chart right?
So you trade off the 1 minute chart right, but what is the largest timeframe that you use for determining the main trend?
Oh and about money management, when you wrote about “scaling into positions” did you mean that if you had a good week and had raised your equity balance $1000, and previously your balance was $30,000, that you would start using lots of 31K?
Thanks much & Keep up the good work!
SMD
SMD,
Great to hear from you! questions are always welcomed.
I get my daily pivots from action forex, they update their pivots every hour for most pairs. Then i plot them manually onto my oanda charts. i put them on the 5 min and 1 min chart.
I use daily, weekly, and monthy pivots, i find physcological #s and major s/r manually on my own, and then plot them manually (have a 3 screen set up).
Yes that is correct.
P1PTRAD3R
I was just wondering. You keep mentioning that you trade when the market goes sideways. I am a newb, but I read somewhere that 80-90% outside of the high volume hours of Forex the market goes sideways. They mentioned that this was perfect for scalping.
What hours do you trade? Is it possible to be profitable during off hours scalping? I obviously do not have a system set up yet, and I would very much like to swing trade the high volume hours, and scalp the low volume hours.
I can identify with your scalping style
Do you always sideline on a good day?
If I was on a role I wouldn’t be able to stop. Has that caused you loses in the past?
I am a indicator junkie, would using some with your system contradict or undermine it?
Do you wait for the news and pip spread increase to subside everyday? If so how long?
Why do you use Oanda?
Why do you trade the GJ if the spread is higher than some other currency pairs?
Have you used MB trading or FXDD and what is your opinion of others you have used?
FXDD would always stop me out before I could break even on underwater trades.
Have you used any EA with your system?
Did you develop this system on your own or adapted it from somewhere?
Thank You in advance, your help is much appreciated.
westone,
I prefer to scalp during sideways markets, easier, i trade right now from 830am est to about 3 pm est. But i will be moving my trading offices to miami, where i will be trading from 5am est.
I trade with oanda, which means i need to trade during high volume so the spreads are minimal, during the slow hours…spreads are widened, for me, very hard to scalp during this time of the day. I only trade london and/or ny. And i very rarely will swing trade, i only scalp.
hope that answers your question.
[B]P1PTRAD3R[/B]
I have been off from trading since Dec 22nd, i will starting work again in about 5-7 days. I took off bc market volumes are very low, and bc i am setting up my own trading group (email or private message for more detail). With that going on i am in the process of moving my trading office to miami in the next few days.
[I]HOPE EVERYONE HAD A GREAT HOLIDAY! HAPPY NEW YEAR![/I]
[B]P1PTRAD3R[/B]
DrX,
great to hear from you!
Yes i always sideline myself during a good day, i stay cautious…i have had way too many days where my last trade was forced and I give back a good amount of pips. i do not trade like that, once im over 150 pips i take trades very cautiously.
I do not use lagging indicators for confirmation on trades, they are useless. They all derived by price, so they are lagging. I found it best just trading on a naked chart with S/R. Indicators just make me miss trades and 2nd guess my initial thought.
Well i trade mostly NY, so the spreads are ok. I trade GJ with a 4.5-6.5 pip spread for most of my trades. I never trade the news, thats just gambling, and i will wait after the news for the spreads to go back to normal before entering the markets.
I love oanda’s spreads, fits my trading style perfectly.
GJ is my pair of choice, i trade the GJ exclusively for the past 15 months. The reason the spread is higher is because it moves alot more than most pairs. And i want more pips, i try to get over 100 pips/day. That would be very difficult to do with the EU or even GU.
MBTrading is great, i used to trade with them when i daytraded stocks. Their FX platform is good, but i use oanda.
This is my system that i use, i developed my own rules that fit my personality the best.
hope that helped Dr.
[B]P1PTRAD3R[/B]
