BLS
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Week 3 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
matty_dunn
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Yorkshire Terrier
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Traderallen
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Bobs book is a must read (and understand) even if scalping is not for you. Read it and reread it till you understand it well. Ask questions here if you don't get something. Do this and you be far ahead of the 95% who blowout their accounts.
Traderallen
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You'll have to purchase a copy of the book from Amazon. Bob seems to have done a good job at keeping and eCopy off of the freeware sites. Trust me it's well worth the money.
Hi auto
You are shorting straight into that line you have drawn which is a level of previous resistance and could well act as support now. Also this is close to the 40-50% retracement area of the last bull move up. So personally I see that as two unfavorable conditions for the trade short
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Trading in the Zone
This morning as I was reading "The Real George Washington" I came across something that was written about him (page 228) during the Revolution that accurately describes the mastery I am trying to achieve in my trading. It said; " Conscious that the principles on which he acts are indeed founded on virtue, he steadily and coolly pursues those principles, with a mind neither depressed by disappointments nor elated by success, giving full exercise to that discretion and wisdom which he so eminently possesses. That my friend is trading in the zone.
This morning as I was reading "The Real George Washington" I came across something that was written about him (page 228) during the Revolution that accurately describes the mastery I am trying to achieve in my trading. It said; " Conscious that the principles on which he acts are indeed founded on virtue, he steadily and coolly pursues those principles, with a mind neither depressed by disappointments nor elated by success, giving full exercise to that discretion and wisdom which he so eminently possesses. That my friend is trading in the zone.
vhfunyfarmer
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Hi everyone,
I have read Bob's book twice and i find it a good read. I have been paper trading for a few months with a broker demo account but using 1 minute charts instead of 70 pip charts. I would rather use the 70 pip as i did have them running on my broker charts for while, but wasnt pratical. Just wonderig if its worth persisting with the 1 minute chart of if anyone else is using it. I tend to have two losing trades and one winner trade ratio at the moment, obvously would like it the other way around.
I have read Bob's book twice and i find it a good read. I have been paper trading for a few months with a broker demo account but using 1 minute charts instead of 70 pip charts. I would rather use the 70 pip as i did have them running on my broker charts for while, but wasnt pratical. Just wonderig if its worth persisting with the 1 minute chart of if anyone else is using it. I tend to have two losing trades and one winner trade ratio at the moment, obvously would like it the other way around.
garageboyFUJI
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Hi.
This is my trading result of this week.
1/20 -4p -3.2p -3p
1/21 no trade
1/22 no trade
1/23 3.7p 3.2p -3p 4.4p 1.2p 3.6p -6.2p
1/24 3p -3p 1.1p -3.8p 4.8p 1.3p 2.7p
this week total 2.8p
last week total 16p
It dose not seem to be a good result, but actually, it is a result getting better for me.
I'm sure this method is extremely difficult.
Still there is significance to continue this method and may catch it newly instinctively.
And yet it is becoming risky, I need to practice more and more.
This is my trading result of this week.
1/20 -4p -3.2p -3p
1/21 no trade
1/22 no trade
1/23 3.7p 3.2p -3p 4.4p 1.2p 3.6p -6.2p
1/24 3p -3p 1.1p -3.8p 4.8p 1.3p 2.7p
this week total 2.8p
last week total 16p
It dose not seem to be a good result, but actually, it is a result getting better for me.
I'm sure this method is extremely difficult.
Still there is significance to continue this method and may catch it newly instinctively.
And yet it is becoming risky, I need to practice more and more.
Yorkshire Terrier
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Hi Auto25982
Imo that trade looked ok it's the kind of trade i would have taken, and the other trades that i like and have some decent success with are BB's in
the 50% retracment area of a move back into the same direction has the previous movement as illustrated by the move from A to B.
Has for your trade price did not make it to the lows of B so when it advanced up to the high of the range you could of seen this as meaning a RB could be on the cards, But it did not
so much as squeeze against the top of the range more like stuck to it for some time just as the previous BB.
Has you can see price did eventually break the rang but no entry was provided, i don't know if Bob will mention this point in time on the charts in his next
weekly look at the charts but i would presume ( in hindsight ) that it was to soon to go long.
P.S The second doted box in the second chart is the one Auto25982 is referring to.
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BLS
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Week 4 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
matty_dunn
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Traderallen
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January total
Final numbers for January are in. I find them quite dismal and think I should have done better. I think I have given up too many pips from inefficiencies. An example being the breakeven trade of 1.4 PIPs would have been a full target winner except for in errant mouse click causing the position to close early. I'm considering making some software changes that I think may help to improve this, we will know by the end of February.
DAY TRADE # TYPE WIN OR LOSE # PIPS
2 1 RB WIN 6.3
6 2 50mag WIN 8
7 3 RB WIN 3
8 4 DD WIN 5
10 5 NEWS WIN 13
10 6 NEWS WIN 4
15 7 RB WIN 10
15 8 RB WIN 10
16 9 RB WIN 8
16 10 RB WIN 6
19 11 RB WIN 9
20 12 IRB WIN 5
21 13 RB LOSS -10
24 14 RB LOSS -10
27 15 RB WIN 5
27 16 NEWS WIN 5
27 17 NEWS WIN 10
28 18 NEWS WIN 8
28 19 RB BE 1.4
28 20 NEWS WIN 7.5
29 21 DD WIN 10
29 22 DD WIN 13
30 23 RD WIN 11.9
31 24 BB WIN 10
31 25 RB WIN 10
total pips 159.1
average 6.4
Final numbers for January are in. I find them quite dismal and think I should have done better. I think I have given up too many pips from inefficiencies. An example being the breakeven trade of 1.4 PIPs would have been a full target winner except for in errant mouse click causing the position to close early. I'm considering making some software changes that I think may help to improve this, we will know by the end of February.
DAY TRADE # TYPE WIN OR LOSE # PIPS
2 1 RB WIN 6.3
6 2 50mag WIN 8
7 3 RB WIN 3
8 4 DD WIN 5
10 5 NEWS WIN 13
10 6 NEWS WIN 4
15 7 RB WIN 10
15 8 RB WIN 10
16 9 RB WIN 8
16 10 RB WIN 6
19 11 RB WIN 9
20 12 IRB WIN 5
21 13 RB LOSS -10
24 14 RB LOSS -10
27 15 RB WIN 5
27 16 NEWS WIN 5
27 17 NEWS WIN 10
28 18 NEWS WIN 8
28 19 RB BE 1.4
28 20 NEWS WIN 7.5
29 21 DD WIN 10
29 22 DD WIN 13
30 23 RD WIN 11.9
31 24 BB WIN 10
31 25 RB WIN 10
total pips 159.1
average 6.4