Box breakout pro scalping

[15 min tlb]

Long 1.3164 stop 12 3 positions

 

[virtuesoft]

What are you doing?

You've already lost a **** load. Don't you ever learn?

Stop trading. Call it a day.

 

[BeginnerJoe]

What are you doing?

You've already lost a **** load. Don't you ever learn?

Stop trading. Call it a day.

I think what is needed is to break out of the psychological box when one is boxed in.

 

[15 min tlb]

Long 1.3164 stop 12 3 positions

This was a poor trade as all trendlines and moving averages are down , but i was relying on up channel .I should have waited for all mas to point up.out at 64(-0)

 

[random12345]

This was a poor trade as all trendlines and moving averages are down , but i was relying on up channel .I should have waited for all mas to point up.out at 64(-0)

Even EURJPY has been stuck between a 10pt range for 3 hours now. This is highly irregular and we had all that news about Abe. Oh wait. It would be highly irregular except for the week before Xmas and what's the date again...? Ah... check this week in 2011 on your daily chart and look at the size of the bars. Narrow dojis with some movement on the days between holidays.

If you're going to trade this week, trade the morning only, if you're not out by midday, panic and play blackjack. Hoping for fiscal cliff movement ain't worth it since the bars will likely be huge when they come anyway.

January is always nice, think your system will work well in Jan, perhaps up to July. If you're going to trend trades you have to pick probable days as well as times.

Can't you take December off now?

 

[random12345]

Behind every genius is an ordinary bloke trying to express himself.

At least you can see where the ordinary blokes are heading.And if any of you want to make live calls based n this method , they will give you the experience and mindset of a genius.Mistakes are allowed and will only be supported and condoned.

Great traders do not need to write books or sell education, they can earn $50 k a week instead of writing a book for 6 months.Behind every authoring genius is an ordinary bloke trying to express himself.

Got another soap box moment for my audience of three. I think everyone must be getting bored of this traders don't do things because they earn more trading argument, especially when made by up and comers - I have read a few books that seemed to have merit to me, if properly applied. Traders get bored of their vocation like everyone else. Unless they're employed by a bank, in which case they wouldn't be here, they have a GREAT deal of time on their hands. I get extremely bored most afternoons. Most people I know who are successful at this intra day game call it a day when they hit a target. The odds are best for this to be hit early on in the day, explosions from the mean with Frankfurt and London opening and all that. Since I usually trade EURJPY, this tends to be 8-9am for me. I could easily write a book and trade at the same time. I don't have the patience for it or possibly the skill, but I do have the time and I could make the effort. It is no reflection on my daily profit or skill as a trader if I wrote a book...

Obviously those cretinous websites with 'as seen on TV' plastered across them are tragic scams and these people do fall into your definition.

Off topic psychology thing. I have two tea & cake shops in London that a good friend of mine runs and they post a 6 figure loss every year between them (hence we don't pay corporation tax much like Starbucks!). We have to have an audit due to wrapping the buildings up within the company and every time I have to write a letter of comfort saying I'll keep on pumping money into the useless hole of a company. Why don't I close them and just trade? Because trading is, for the most part, MIND NUMBINGLY DULL and a WASTE OF LIFE. If anyone wants to go to their grave having just traded and indulged in hedonism with their 70 years of existence, they're one strange strange human. Can't imagine how messed up your mind would be at that point.

So there.

 

[Knell]

Got another soap box moment for my audience of three. I think everyone must be getting bored of this traders don't do things because they earn more trading argument, especially when made by up and comers - I have read a few books that seemed to have merit to me, if properly applied. Traders get bored of their vocation like everyone else. Unless they're employed by a bank, in which case they wouldn't be here, they have a GREAT deal of time on their hands. I get extremely bored most afternoons. Most people I know who are successful at this intra day game call it a day when they hit a target. The odds are best for this to be hit early on in the day, explosions from the mean with Frankfurt and London opening and all that. Since I usually trade EURJPY, this tends to be 8-9am for me. I could easily write a book and trade at the same time. I don't have the patience for it or possibly the skill, but I do have the time and I could make the effort. It is no reflection on my daily profit or skill as a trader if I wrote a book...

Obviously those cretinous websites with 'as seen on TV' plastered across them are tragic scams and these people do fall into your definition.

Off topic psychology thing. I have two tea & cake shops in London that a good friend of mine runs and they post a 6 figure loss every year between them (hence we don't pay corporation tax much like Starbucks!). We have to have an audit due to wrapping the buildings up within the company and every time I have to write a letter of comfort saying I'll keep on pumping money into the useless hole of a company. Why don't I close them and just trade? Because trading is, for the most part, MIND NUMBINGLY DULL and a WASTE OF LIFE. If anyone wants to go to their grave having just traded and indulged in hedonism with their 70 years of existence, they're one strange strange human. Can't imagine how messed up your mind would be at that point.

So there.

Sounds like both of you are doing the same thing "chucking good money down the drain after something that just isn't working"...

 

[15 min tlb]

Sounds like both of you are doing the same thing "chucking good money down the drain after something that just isn't working"...

Be realistic , 35 pip range today , just needed 10 to 20 more pips volatility and we would be ok.

Average ranges used to be 65 to 150 over the years , depending on volatility.

 

[15 min tlb]

What are you doing?

You've already lost a **** load. Don't you ever learn?

Stop trading. Call it a day.

Thanks for your comments .

I am going to start with 20 stops from tommorow .Today there were only 2 to 3 three trades to be taken, when 15 min trend lines were pointing in same direction , with trend lines pointing same on 15 min.I took more based on p/a .

I use another ranging scalping method with this method , it works well in these conditions.This type of market is your enemy for trending systems.

 

[BeginnerJoe]

I reckon today's moves will come while I am awake and you are asleep.

 

[Knell]

Be realistic , 35 pip range today , just needed 10 to 20 more pips volatility and we would be ok.

Average ranges used to be 65 to 150 over the years , depending on volatility.

TLB, right now, your system does not work, you're still buying at the top of every move as if you're expecting every up move to be a break out....every move has a retracement, try wait for the retracement (38% on Fib for example) before entering the trade, you'll probably enter the trade just when you would have originally had your stop, you'll give yourself a much better chance..

I'm sure you'll get it right just as long as you refine your system...

 

[random12345]

Sounds like both of you are doing the same thing "chucking good money down the drain after something that just isn't working"...

Haha. Tight fisted Buffetology was tiresome rhetoric even in the 80s. There's nothing good about the money I make from trading basic geometry... plus a payroll of 19 staff seems a better way to spend it than ordering a giant bottle of champagne. What happened to that guy after the FSA investigation?

 

[15 min tlb]

Today there should have been 3 trades and losses on the longs ,of 12 *2 *3 (72 pips).There were only 3 valid long entries.

 

[BeginnerJoe]

Today there should have been 3 trades and losses on the longs ,of 12 *2 *3 (72 pips).There were only 3 valid long entries.

So, what are you saying then ?

 

[15 min tlb]

So, what are you saying then ?

If you followed the ma and trend line set ups , today's looses should have 72 pips , mine were 82 pips , I increased my position on one trade. The set ups according to t/l should have been 3.Today I had 10/11 trades .

I t looks like trending at night.

 

[15 min tlb]

Today's two correct trades would have made profit.

When all diagnol trend lines are broken enter.Look on tick chart.

The rest were my mistakes.

 

[BeginnerJoe]

Long AUD/USD 1.05479. Random target, random stop. I could probably get a better deal waiting a bit. But I have to leave for a couple of hours.

Exit with positive B.E. I may have another go if I get a good price.

 

[BeginnerJoe]

Long AUD/USD 1.05481. Random stop and target. A better price appeared immediate after my entry. Scum !

 

[15 min tlb]

Long 1.3173 stop 8 , 3 positions

 

[15 min tlb]

Yesterday was a poor trading day .The overnight support had become resistance as per chart .Many of the trades put on should not have been done due to the resistance not being broken.There is a bottom channel which I was trading long with the support.. I failed to notice the overnight resistance and the diagnol trend down trend lines were acting as resistance lines.Many breaks above 70 failed to hold as support , I was expecting them to hold.

Must always watch and respect the resistance and support.This morning it is holding above 72.

There is often nothing wrong with the method , but the mistakes of traders.There was only one valid entry yesterday . as per blue arrow.