Does this mean your money printer is idle at the moment?but lack of time to trade for ages
Ran out of ink.
More if a print money then burn it all in a fraction of the time anyway.
3 systems to get finished, cash in the bank till May / June going to have a proper stab at full time
GU and DAX currently!!
Oh you are the guy who scalps DAX for single ticks ... I have no objections to this kind of trading achieving 80-90%
I didn't hear him say it's a high prob strategy. In fact, he had an uncomfortable pause before saying that there are "occasional" losses and he urged people to backtest it.
No, too much risk for 1 tick, 10-30pts for me.
It turns out that I had to switch to a higher timeframe after all (60-minutes) because I can't constantly monitor my positions for the time being and the system as I had planned to use it demands that I watch my trades closely due to how "squirrelly" the foreign currency markets can be.
I wanted to buy GBPUSD @ 1.2702 but was out getting a Subway sandwich when I got the go ahead signal to place the order, so I missed my opportunity! I was able to make only three trades since then given that I'm popping in to check things out only sporadically in between taking care of my other chores, which have been taking up almost all of my time during the past three days...
I just added the (yellow, blue, and green) "anchor moving averages" from my one-hour charts to my five-minute setup, which should enable me to compensate for "squirrelly" markets while still using maximum precision in choosing my entries and take-profit targets.
I started out my trading journey scalping 30 Year Treasury Bonds as an independent local in the Pit. The rule I was given by my mentor was: if your position goes 2/32 against you - puke. In other words, take a 3/32 loss at market by hitting the next bid or lifting the next offer.
The idea was that capital conservation is the most important goal in the first year of trading. I was told that if I could survive for a year - that I would learn to grow my account equity. I worked two jobs to pay the bills.
You can give away a day, at worse give away a week in a day - but any trader who gave away a month in a day was seen as a bad trader.
The idea was that capital conservation is the most important goal in the first year of trading. I was told that if I could survive for a year - that I would learn to grow my account equity. I worked two jobs to pay the bills.
You can give away a day, at worse give away a week in a day - but any trader who gave away a month in a day was seen as a bad trader.
I think to be a successful electronic scalper, you need to be aware of the technical price action biases that may be at work in the market. You also need to be aware of the correlated markets that influence your drug of choice.
That's what I've seen in my career, YMMV. I wish everyone good fortune !
That's what I've seen in my career, YMMV. I wish everyone good fortune !