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Fireplace
Registered: Feb 2010
Posts: 2327 |
05-19-11 01:28 PM
Excellent!
Quote from cvds16:
Most people just don't get sophisticated enough at this, yes, it's simple, but not that simple ... there are nuances ... if you don't know how to read those, yes then trading is impossible ...
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oilfxpro
Registered: Oct 2007
Posts: 1600 |
05-19-11 01:44 PM
Mark
I went back on simulator to change natural instincts on trading.I am trying to see if I can remove all the negative traits from my trading before going live again.
I am also preparing for the swing trading on oil and fx.I have free time on my hands.
This is on trial.If I go on 1 min charts with tight stops and do a hundred trades a day,getting in and out of trades frequently , I find myself in the comfort zone.This fast in and out within minutes style of trading suits my style.If you do 200 trades daily , your problems disappear because you change sides at every turn of the trend line.If you do enough of them , you have an edge because your eyes can see more good opportunities to trade , whereas if you limit your trades to 2 to 3 , your potential is limited.
I traded on simulator for a whole week many months ago , trading 200 times a day .The results were an astonishing 20 % a week.The method could not be implemented on live accounts , this was because it was discretionary based on trading instincts.I tried to apply rules to the method and it failed.Now I found a few rules that can be applied to the method.
Your opinion is welcome as always.
 newfolder.rar
This has been downloaded 70 time(s).
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Visaria
Registered: Sep 2004
Posts: 3803 |
05-19-11 02:10 PM
Quote from oilfxpro:
The results were an astonishing 20 % a week.The method could not be implemented on live accounts , this was because it was discretionary based on trading instincts.
Can you expand on why you could not implement this method into live trading? Was it the emotions of trading with real money came into play?
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oilfxpro
Registered: Oct 2007
Posts: 1600 |
05-19-11 03:36 PM
Quote from Visaria:
Can you expand on why you could not implement this method into live trading? Was it the emotions of trading with real money came into play?
The simulator worked very well.So I go in with real money and tried to be careful and implement it slowly.I started with half the method trying to be extra cautious.This type of trading is very fast and does not require a slow , cautious approach to trade.The frame of mind to implement the method was not correct, hence the failure.
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Neenisti
Registered: Mar 2011
Posts: 393 |
05-19-11 03:47 PM
I found that trying to trade more that 10 times a day per chart, for me anyway, was suicide. 200 is ridiculous. I only day trade for about 4 hours a day tops and 2 or 3 trades per chart in that time frame is comfortable. A lot of my charts average 1 or 2 trades a day maximum.
I've watched individuals try to trade a chart like playing a video game and it drives me nuts. It is absolutely no wonder they loose their shirts.
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Fireplace
Registered: Feb 2010
Posts: 2327 |
05-19-11 04:10 PM
I'm with you on this, 1-2 trade setups on average per time frame per day. I have a very specific sequence that I follow and it occurs across all time frames but it's not trading on any one time frame all day long. Toggling between several times frames, I've found, works wonders. 
200 trades a day though....I couldnt handle it
Quote from Neenisti:
I found that trying to trade more that 10 times a day per chart, for me anyway, was suicide. 200 is ridiculous. I only day trade for about 4 hours a day tops and 2 or 3 trades per chart in that time frame is comfortable. A lot of my charts average 1 or 2 trades a day maximum.
I've watched individuals try to trade a chart like playing a video game and it drives me nuts. It is absolutely no wonder they loose their shirts.
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