thread: How I Turned 1k To 100k In A Wk!!!

94840

Hello Mystigenie

would you pls tell us the way you closed out this transaction?

Thx,

Thank you for your interest in that trade--I closed out @ 1.9000 ( 250 pips)--Currently I am brief Eur/Nzd from 1.8900--I apply Mark Fisher's'Pivot Range' method which acts as sort of trailing stop--i.e., you compute recoil range based on large low of previous 3 days close of 3rd day--then place your stop just above/below pivot range depending upon your position when it moves in your favor-- for details, please refer to his book'The Logical Trader'--A great read btw

GL/GT

P.S.: The brief trade I am in on Eur/Nzd--examine just how PA failed to break the downsloping red upper trendline--I am awaiting the break of the symmetric triangle for a fantastic trendy move (will be atleast worth 400-500 pips)--it could break up/down (though currently the lower trendline being tested)--

94840HI Qpip,

I will upgrade my results at my blog at this week. It will be M30, H1 or H4. I am putting some extra filter in and determine how the results will be by end of this week...

as for the number of pips I obtained in the transactions I posted, I think u r place on bcos all of my 3 positions available have different profit goals. I am also awaiting the explanation of FX.

With all the pairs in actions, I am wanting to pick out profitable pairs accorrding to different timeframes so that u guys know which to pick n trade.

Hello Fxanalytix,

You're right about one stage. The fact that taking a standard lot (or even 100,000 units or 10$/pip) or a miniature lot (1/10th normal lot or 10,000 units or 0.10 lot or 1$/pip) or 3 lots or any size lot for this matter changes absolutely nothing to the number of pips gained or lost. It's just what a pip is worth that can change depending on the lot size.

But in the case of Automan (again, does not matter what size lot he chooses ), what happens here is that he took 3 separate transactions that isn't equal to saying he took 3”lots” versus”1 lot”. I think he's correctly calculating the pips, since 3 times (whatever lot dimensions ) = 3 gains of x pips per day.

Not sure I'm being crystal clear -- and you did mention that you would give him more advice after, so I'll be seeing for the explanation.

And since you say, whatever the calculations, the yields are remarkable.

Automan: really nice of you to keep us updated on your progress. I'm following you on a daily basis. Continue the superb work.

94840

Thank you for your interest in that trade--I closed out @ 1.9000 ( 250 pips)--Currently I'm short Eur/Nzd from 1.8900--I employ Mark Fisher's'Pivot Range' strategy which acts as sort of trailing stop--i.e., you compute pivot range based on large low of preceding 3 days close of 3rd day--then put your stop only above/below pivot range based on your position once it moves in your favor-- for details, please consult with his book'The Logical Trader'--A great read btw

GL/GT

P.S.: The short trade I'm in on Eur/Nzd--examine just how PA failed to violate the downsloping reddish upper trendline--I'm awaiting the rest of the symmetric triangle to get a fantastic trendy move (will be atleast worth 400-500 pips)--it could split up/down (though currently the lower trendline being analyzed )--

thanks for sharing your system mysticgenie,if I may ask,whats the role of the ATR in your own system? Do trade frequently with daily charts or 1hr or 4hrs charts? The maximum stoploss u will take for your kind of trading? If possible, can u also update us in your templates? Thank you

94840Hi FXKing,

you may find the answers in the thread:

ATR used for SL: It is possible to use 2 bar highs/lows in that particular TF, or 1.5 times the ATR of the particular TF--is based on your pain tolerance--

Timeframe: Depends--to get Mt/LT positioning, i.e., on daily wkly charts, I use H4 TF to get entry/exit--once I'm scalping on H4/daily timeframe I use H1 TF--I don't trade lower than this --

Timeframe SL : I use simple trend following egy based on 4H, daily wkly TF -- I use 1H TF for admissions exits--I also apply candlestick pattern, laguerre Demark lines for projected target points--today I do not use any firm SLs --if a position moves a/g me (mention by 100-150 pips in case of G/J), either I'll bail out reverse (when the reverse trend is strong)or will only hedge to attempt to come out b/e (small retracements)--

Also I use Keltner-channels for possible entries exits. You are aware that the upper bands are std deviations in the middle ring (10 MA). So on a lengthier TF, during ranging period usually PA will be restricted within these rings ( you buy at reduced ring sell @ upper band--if the market is trending, then, you sell if price moves below lower band buy above upper group the centre point (10 MA) being your SL in this case--ofcourse I take into account other factors, but K-channel helps me orient to the current PA--

Template: Just put the four indiors (CandleTime.mq4, DeMark lines.mq4, Keltner Channels.mq4, Laguerre2A.ex4) with regular parameters onto your charts and you will get the template used by MG.
_____________________

Hello MG,

Thank you for your strategy, I am discovering DeMark traces, very interesting instrument. I shall buy his book.

Concerning COT report:

I've readen your phrases about COT report (with the Yen illustration ), but I have not understood how you can establish the trend of the following week. I've seen a lot of posts on investopedia.com, pfxglobal.com, and several sites (marketswimmer.com, etc...) around COT however there's a lot of different variations on how to examine these information... (not found any that may match with forthcoming trends). On what informations would you concentrate your attention, Open Interest? Non commercial ? Commercial ? Total ? Nonreportable positions ? Difference between reports of two weeks in long/short, affects, percentage, number of traders?

Also, thanks to Automan for its report of his autopips! Keep the fantastic job.

Regards,

Funyoo.

94840Hi Men

I have posted some new consequences for H4 Interbankfx. Please check it out.

94840

Hello FXKing,

You can get the answers in the thread:

ATR utilized for SL: It is possible to use 2 bar highs/lows in that particular TF, or 1.5 times the ATR of the specific TF--is based on your pain tolerance--

Timeframe: Depends--to get Mt/LT positioning, i.e., on daily wkly charts, I utilize H4 TF to get entry/exit--once I am scalping on H4/daily timeframe I use H1 TF--I don't trade lower than that--

Timeframe SL : I utilize simple trend after egy based on 4H, daily wkly TF -- I utilize 1H TF for entries exits--I also employ candlestick pattern, laguerre Demark lines for estimated target points--now I don't use any company SLs --if a ranking goes a/g me (say by 100-150 pips in case of G/J), possibly I will bail out inverse (if the inverse trend is strong)or will only hedge to attempt and come out b/e (minor retracements)--

I also use Keltner-channels for potential entrances exits. You know that the upper lower bands are std deviations in the center ring (10 MA). So on a lengthier TF, during which range period usually PA will be limited within these bands ( you buy at lower band sell @ upper group --if the market is trending, then, you sell if price goes below lower band buy above upper ring the middle line (10 MA) being your SL in this instance --ofcourse I take into account additional factors, but K-channel helps me orient to the current PA--

Template: Just put the four indiors (CandleTime.mq4, DeMark lines.mq4, Keltner Channels.mq4, Laguerre2A.ex4) with standard parameters on your charts and you will get the template used by MG.
_____________________

Hello MG,

Thanks for your strategy, I'm detecting DeMark traces, very interesting tool. I will buy his book.

About COT report:

I've readen your phrases about COT report (with the Yen illustration ), but I haven't understood how you are able to establish the trend of the subsequent week. I've observed a lot of posts on investopedia.com, pfxglobal.com, and several blogs (marketswimmer.com, etc...) about COT however there is a lot of different variations about the best way to examine these information... (not found any that can match with forthcoming trends). On what informations would you focus your attention, Open Interest? Non commercial ? Commercial ? Total ? Nonreportable positions ? Difference between reports of two weeks in long/short, affects, percentage, number of traders?

Also, thanks to Automan for its report of the autopips! Keep the good job.

Regards,

Funyoo.

Thanks to your detailed explanation funyoo! If u place your entries and exits mind? Thanks,keep the good job up

94840

thanks for your comprehensive explanation funyoo! Head if u post your entries and exits? Thank you,keep up the good job

Fxking--those are some amazing questions you asked about COT report--studying this report is an art open to different interpretations depending on what you're focusing on--I will temporarily enlighten further on this subject, things I look for--however, I may not be able to describe fully all the nuances that you will start grasping with practice experience--

I use COT report in a very optional way--this report lags by atleast 3 days--little trick I employ--just observe the PA from tuesday until weekend see that the change if it conforms w/ COT report or perhaps not --normally views from COT report takes sometime to appear --Now what to look for:
1. Look for noncomercial positions ( I will take 12/18/07 COT report as an example on NZD, recall , this is yr ending --this report may not reflect the true positions because of yr end position squarings)--you may see, the overall longs decreased shorts increasing, whilst OI is also decreasing fitting nicely w/ autumn of NZD until 12/18
2. Now look at commercials--those positions mainly signify hedging--but should you see extreme difference b/w long shorts of commercial positions, you can anticipate some adjutments (i.e., squaring of shorts)
3. Now look at overall percentage of OI of the two noncommercials commercials you see nearly 100% short positions (now that is intense )
4. This report strongly suggests alteration of Nzd which happened exactly--Nzd started strengthening because last 9 days or so
5. Now you wait for next COT report on--remember to take into account the following 3 times (later tuesday) for proper interpretation of the report
6. It is possible to just predict future leadership if you notice some extreme position like the example above--

Hope this helps,

As for the short Eur/Nzd place --this is a commerce based on daily/wkly PA--consequently, SL is big --above current high (above 1.99--R/R only above 1, TP under 1.8000)--I will hedge my position in case this pair breaks above 1.93 (on daily shut ) for some rapid gains--this trade is earning great swaps btw [15 USD every day on 1 std lot from my broker]

GL/GT

94840

Hi FXKing,

You can get the answers in the thread:

ATR used for SL: It is possible to use two bar highs/lows in that particular TF, or 1.5 times the ATR of the particular TF--depends on your pain tolerance--

Timeframe: Depends--for Mt/LT placement, i.e., on daily wkly charts, I utilize H4 TF for entry/exit--when I am scalping on H4/daily interval I use H1 TF--I do not commerce lower than this --

Timeframe SL I utilize simple trend following egy based on 4H, daily wkly TF -- I utilize 1H TF for admissions exits--I also apply candlestick pattern, laguerre Demark lines for projected target points--today I don't use any firm SLs --if the ranking moves a/g me (say by 100-150 pips in case of G/J), either I'll bail out inverse (if the inverse trend is powerful )or will simply hedge to attempt to come out b/e (small retracements)--

I also use Keltner-channels for possible entries exits. You are aware that the upper lower bands are std deviations from the center band (10 MA). So on a lengthier TF, during ranging period usually PA will be restricted within these bands ( you buy at lower ring sell @ upper group --when the market is trending, then, you sell when price goes under lower group buy above upper band the middle line (10 MA) being your SL in this case--ofcourse I take into account other aspects, but K-channel helps me orient to the current PA--

Template: Just put the 4 indiors (CandleTime.mq4, DeMark lines.mq4, Keltner Channels.mq4, Laguerre2A.ex4) with standard parameters onto your charts and you'll find the template used by MG.
_____________________

Hi MG,

Thanks for your method, I am detecting DeMark traces, very interesting tool. I shall buy his book.

Concerning COT report:

I have readen your phrases about COT report (with the Yen illustration ), but I haven't known how you can determine the trend of the following week. I have observed a lot of articles on investopedia.com, pfxglobal.com, and several blogs (marketswimmer.com, etc...) about COT however there's a lot of different versions about how best to analyze these data... (not found any that can match with forthcoming trends). On what informations would you focus your attention? Non commercial ? Commercial ? Total ? Nonreportable positions ? Difference between reports of two weeks at long/short, changes, percentage, number of traders?

Also, thanks to Automan for the report of his autopips! Keep the great job.

Regards,

Funyoo.

Thanks for your curiosity Funyoo--Please visit my answer over which should answer your query --

GL/GT

94840Hi MG,

Can you use any Internet site for COT reports like I use timing chart com That can put some Chart about cot However they dont show That the NZD That There


Thanks

V

94840Hi Guys,

Just to explain

For H1 ODL, I'm trading in 1 standard lot with 100k balance, pip value is between 8.6 - 10$ per pip.

For H4 IBFX, I'm trading at 1 mini lot with 10k balance, pip worth between 0.86 - 1.00$ per pip.

Please don't confuse yourself with my information.

I get the Realised Pips by simply calculating the difference between Near n Open price.

AUDUSD shud be 418 pips. I forgot to modify the 15pips to -15pips. Its a miscalculation. I am going to correct in my blog.

I hope u dont get yourself confuse with ibfx n odl and account balance.
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