SwingTradinJay

Took the indicators off. I discovered an easy way of determining a single pivot area for each day. Nobody uses my system, because it's not based off of common criteria. Money management is #1, system #2 and psychology is #3. Line em up and start knockin down profit everyday.

Looks pretty. Pretty things are usually not helpful, except women, sometimes.

Um, Thinkscripter isn't "free". Here's a squeeze script (TOS) for anyone who needs it.. plot Data = close; declare lower; input Length = 20; input price = close; ###################### def e1 = (Highest(High, length) + Lowest(low, length)) / 2 + Average(close, length); def osc = Inertia(price - e1 / 2, length); plot oscp = osc; def diff = reference BollingerBandsSMA(length = 20)."upperband" - reference KeltnerChannels."Upper_Band"; plot mid = 0; mid.AssignValueColor(if diff >= 0 then Color.UPTICK else Color.DOWNTICK); #oscp.assignValueColor(if osc[1] < osc[0] then Color.green else Color.red); oscp.AssignValueColor(if osc[1] < osc[0] then if osc[0] >= 0 then #UpPos CreateColor(0, 255, 255) else #UpNeg CreateColor(204, 0, 204) else if osc[0] >= 0 then #DnPos CreateColor(0, 155, 155) else #DnNeg CreateColor(255, 155, 255)); oscp.SetPaintingStrategy(PaintingStrategy.HISTOGRAM); mid.SetPaintingStrategy(PaintingStrategy.POINTS);

I buy Express... but banana republic is good stuff

...#962,432,422 Revenge trading and chasing losses.

Stop for now, get a job, and paper trade. You can't expect to make enough to support 3-5 people...It's going to be hard work just to support yourself-on a budget ! This aint the easy life, and 42k is a good start, but can be eaten and digested in a heart beat if you play foolishly.

Anyone here use a Heikin Ashi Oscillator (HACO) to pick off trades? It can be used for scalping, trending, and everything inbetween. I had to pay for the indicator, about 10$, but it has paid for itself easily. Here's a screen shot, eur/jpy 1 min chart and 2 min chart, indicator set to 200/200 up/down trend.

Lol, good movie indeed! Let go of those losing positions. But, at least he was able to write a book about about evading police, going to jail, and getting cancer...Doesn't sound like a fun life! Typical trader trying to milk a few U$D out of the situation lol.

You would be surprised man, a lot of people fall right into it, because they think they can buy the pot and force you to fold. Aggression/ego/chip lead plays into it. Also, when you actually have something, people may think your bets are overly strong, AKA bluffing...it becomes so distorted lol...especially if you tell them out loud you bluffed last hand, which is a total lie, then their just like wtf is going on ? lol. It even happens to the pros...I've seen someone try to buy a pot to get re-raised all in. It leads to a nasty fold or wipe out. You chose the part you play, im always passive and folding, slow playing, then sometimes mixing it up with 100% bluffs. sure, the opponent could turn or river something...there's risk in any poker situation. but I would much rather slow play a good hand than suddenly all in, because the opponent will just fold it most likely...it's really only for good hands, in which you don't want to set off "alerts" ive seen perfectly good str8's on the flop, all-in...well ofcourse you fold, they gave away their cards via betting tell. id say bounce between slow and aggressive play. believe it or not, i've checked trip aces and turned into quads...I took em to the cleaners alright :) I remember listening to a pro on WSOP or something, saying you should LOOK for every reason to fold. Always assume the worst basically.

Gotcha back to backtesting zzzz.....

I recently purchased 2 indicators scripted by Thinkscripter, and I have to say it's the best cheap investment so far...Heikin Ashi Oscillator and a Squeeze indicator. If you guys use Think or Swim I would recommend this guy's work.

Love poker personally...hate the bad beats on the river :\ So annoying! I love checking on big hands, then re-reaise slowly and put them all in suddenly

Why are you quoting me? Those questions are easy enough to figure out...I said it takes more composure, which is separate from having a technical edge...It means you're under even more control and emotional constraint. I said 20 pips for stops because that's based off of my style. So whatever floats your boat dude and its all dependent on your style and time frame. What I should have said was, have a ratio around 1:1-1:4 in that range, If you REALLY wanna get technical...So a scalper may risk 10 to make 20 or 30. Swinger may risk 100 to make 300 etc etc. Figure it out for yourself svensa. No need to be a Donkey. There's no right way to trade, my advice is merely my opinion after 3 years of being in the market(s). OP should know it is possible, but you DO need to play it tight and very controlled. Get the most bang for your buck.:missy:

Copious amounts of Cocaine should help your concentration! Heavy doses of Amphetamines should do the trick! Just kidding of course! I prefer a stiff coffee or energy drink to keep my mind on matters. It also helps when you may be feeling a bit sluggish. Make sure you have had your breakfast. I have 2 monitors so I can multitask. I'll have my chart of what I'm trading on one screen, and I'll be playing poker/utube'ing/e-mailing/chatting on the other one...So when you're ready to pounce you won't miss it. You can't trade every opportunity, just keep yourself prepared...and if you're a scalper, there's NO such thing as a "missed opportunity" because the patterns repeat dozens of times a day. I think a few distractions are ok, because sometimes the sidelines can be a good place to hang. It's unrealistic to trade everything...I trade FX, so I must make sure I'm always watching, but only trading PEAK hours/setups.

If you're a young and tough trader who's already learned the "lessons" then 1-2k should be enough to make some spare money, but it would be very hard to live on the profits (unless you can get by with 12k a year!). If an edge works with 100k there's no reason why you cant rack up profits on a smaller amount. It actually takes more composure and skill to trade smaller amounts (because there is no luxury of losing 500-2k a day). It's like Limit Hold em, you need strict rules on your betting size. Short stacks only play good hands and shouldn't go all in unless the hand is likely the best at the table. Keep your bets limited to THE LEAST AMOUNT OF LEVERAGE! 1k can get you 100k lot in FX, but I wouldnt go over ONE 10k mini lot. 20 points is a good enough range for stops. You will make mistakes, but you don't want to pay much for your errors, you'll need to be able to take the next trade without flinching. Edit: This all assumes you've "learned" the key lessons and mental approach. The limited working capitol means all the ODDS are HEAVILY against you. As Bob Parsons said in the April Playboy, "My experiences have taught me to be flexible, not to accept what life gives you at face value and never to make decisions out of fear. You come up with something you think will work, then you put everything you have into it. When times get tough you judge what your worst case scenario is, assume it's going to happen and get back to work. Anything you get on top of that is gravy, baby." That will help to accept the risk in any business venture and thus succeed.

London/European - NY sesh 1am-11am Central US time is my trading hours. Good moves usually.

I guess there is no such thing as an ideal time frame or system. Sorry for calling scalping BS. It's easy to get carried away when you see a trending market...but we know trends don't always last! I'm going to keep my scalping tools sharp as well as trend tools...double edge sword. Any way you can make a profit is good I think. When the market goes sideways scalping is helpful. I've been looking at scalping, and the nice thing is the tight stops. I'm seeing the same patterns on the smaller timeframes, and the only thing different is how much points you can milk out. My most consistent gains were in scalping actually...But that's because I wasn't so darn greedy by letting winners run, but always cutting losers fast. There's benefits to scalping, that's for sure. By the way: what would you define scalping as? 50 trades a day + ? or any amount of trades done within a few hours?

LOL. wowwwwww anyone play first person shooters?

How did monday go-hopefully didnt blow up on the ES drop?

and I believe you are right But actually, he had MANY winning days in his 3 month heavy trading period. He has since slowed down, because he thinks a big part IS luck. Which now takes us on another path: what is the role of luck in our trading, even if we use a semi-mechanical system? It's good to know risk management-because we can't always be lucky, but how do we know WHEN we are "hot"? And figuring out when and how to "get heavy" with our size would help. It's sometimes a gut feel for these natural born traders... I guess a good experienced trader is a lot like a poker player. They get a prime hand and keep calling. Then the river card is flopped and it's all in.. In that situation the risk is HUGE, but they have a good feel for their opponent and if they have a full-house...it's pretty much a win

LOL! I would skip after a good trade... but after last week I could use a PUNCHING BAG ! Anyone here play poker in their time between trades? I do, but not for real stakes, yet.

Trade your signals as much as possible, unless a chart pattern overrides your signal! Profit is secondary...prevent loss and over-trading and everything good follows.

Even with good money management, it can be stressful taking multiple 1-2% drawdowns. 50% is suicide for most, but I know some people who did 100% and it did pay...but they are the exception, most end up blowing out if they play like that.

Wiggle Wiggle me a wage...

DaKine- Awesome! I will be visiting Maui. There is another trader who is hooking me up with free room and board at their home. So I won't need any hotels *phew* and my flight is super cheap around $650 roundtrip! PM me if you have any info or if you want to chat.