The Active Forex Traders Discussion

[garyfritz]

<div class="bbWrapper">OutSTANDing, Udine! I am very jealous! If you keep up that 6%/day, you&#039;ll double your account every 12 days!!</div>

 

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[Udine]

<div class="bbWrapper">Thanks for the compliment. But 6 % / day is not my goal. I want to see for how long I can get 2.9% / day. <br /> <br /> Sounds stupid but I want to see how long I can keep this up. <br /> <br /> You can see my results at www dot mt4i dot com/users/udine . <br /> I started this the 10th of october as i went back to the 15M timeframe, as it was more stable and consistent than the 5M timeframe.<br /> <br /> I know everybody will way that my R:R is completely wrong, but i dont mind at all!!<br /> You might notice that the biggest winner is 10 pips and the biggest loser is 20 pips. Those 20 pips represent 5 % of my account so a loser is - 5% and a winner of 10 pips is +2.5 % to the account. So basically 2 small winners per day and I am done for the day.<br /> <br /> This means that it is very important to keep a very high strikerate. At the moment it is 92 %. If I can keep this up, it would be just perfect <img src="/community/imgs/emoticons/em-wink.png" class="smilie" loading="lazy" alt=";)" title="Wink ;)" data-shortname=";)" />)<br /> <br /> Green pips<br /> <br /> Udine</div>

 

[Udine]

<div class="bbWrapper">Yesterday a strange day with some electricity problems, which resulted in unwanted trades, but I survived. All can be seen at www dot mt4i dot com/users/udine.<br /> <br /> Still managed to end positive +7.5 % but would have been considerably better without these problems. Well another lesson learned.<br /> <br /> green pips to all today.<br /> <br /> Udine</div>

 

[CarrieW]

<div class="bbWrapper">nothing much to update here. <br /> <br /> still trading here n there. <br /> <br /> the account is too small now to trade as I usually do. <br /> <br /> Just waiting and biding my time untill I can refill my account.<br /> <br /> <br /> on a different note I wanted to throw something out here about these fat finger mistakes. there is no excuse for that! <b>you should never be using market orders.</b> ever. <br /> <br /> if you use pending orders you have a chance to see what you have entered before actually placing the order and then if you did make a mistake it can be changed before the order is actually active. <br /> <br /> there really is no reason to use market entry orders. other then impatience.</div>

 

[garyfritz]

<div class="bbWrapper">Since I&#039;m the one who used the term &quot;fat-finger&quot; ... <img src="/community/imgs/emoticons/em-smile2.png" class="smilie" loading="lazy" alt=":)" title="Smile :)" data-shortname=":)" /><br /> <br /> I don&#039;t use market orders. I had two different cases of error: one where I didn&#039;t realize my indicators were set up wrong, so my position size was wrong, and one where I just entered the wrong price. At the time I was balancing my laptop on my knees in a Japanese teashop in Denver and apparently I got careless...</div>

 

[Udine]

<div class="bbWrapper"><b>market orders</b><br /> <br /> CarrieW,<br /> <br /> it depends sometimes I use marketorders, if the situation requires it, because it shows the momentum that I need is there. So far I cannot complain, as I have a kind of FIFO system. Fast In Fast Out. On my 67 trades, I have 5 losses and the average trade is only 11 minutes.<br /> <br /> So far I am up 54.2 % for the month, 15.2 % for the week and 7.2% for the day.<br /> <br /> I think it all depends on what kind of system you trade and if it fits with your personality. As soon as I have doubled my account twice I will go live, maybe it will be a different ballgame then, but so far I trade according to my checklist (100 % iron clad entries only).<br /> <br /> Green pips<br /> <br /> Udine</div>

 

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[CarrieW]

<div class="bbWrapper">if the trade is good its good. it will still be good in 1 minute after I place my pending order. <br /> <br /> I have used market orders but really only when I scalp. I dont consider scalping trading in the traditional sense lol... I dont stay in my trades long although most are longer then 11 minutes. <br /> <br /> when I scalp I go for much smaller profits. u can use pending orders to scalp but its a bit harder to do. you have to be really fast. and the faster you go the higher the chance for error which is why i use market orders only then. <br /> <br /> when I trade I try to do it carefully and I always use pendings. <br /> <br /> question for those who use an ea. do you trade manually with the same strat as the ea has? and if you do who is correct more you or the ea?<br /> <br /> if you do use an ea why do you place orders at all?</div>

 

[Udine]

<div class="bbWrapper">So in the end we agree. I basically scalp for a fast 10 pips, but have a Trailing EA that kicks in @ 50 pips (5 digit broker).<br /> <br /> I still have to check my results with regards to time. <br /> <br /> Udine</div>

 

[Udine]

<div class="bbWrapper"><blockquote data-attributes="" data-quote="garyfritz" data-source="post: 180999" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=180999" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-180999">garyfritz said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> Since I&#039;m the one who used the term &quot;fat-finger&quot; ... <img src="/community/imgs/emoticons/em-smile2.png" class="smilie" loading="lazy" alt=":)" title="Smile :)" data-shortname=":)" /><br /> <br /> I don&#039;t use market orders. I had two different cases of error: one where I didn&#039;t realize my indicators were set up wrong, so my position size was wrong, and one where I just entered the wrong price. At the time I was balancing my laptop on my knees in a Japanese teashop in Denver and apparently I got careless... </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote><br /> <br /> Do you live in Denver or were you visiting ??<br /> <br /> I aks, because if you were visiting, you should not be trading and focus on the visit. Live in the NOW, the present. If you live there, .sh@t happens.<br /> <br /> Udine</div>

 

[Udine]

<div class="bbWrapper">I just made a test trading outside my normal hours... I will NEVER EVER MAKE THAT MISTAKE AGAIN !!!<br /> <br /> Udine</div>

 

[garyfritz]

<div class="bbWrapper">I live an hour north of Denver. I was in Denver to take a certification exam. Stopped in at the tea shop after the exam to place my orders for the day, then drove home.</div>

 

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[Udine]

<div class="bbWrapper">So you&#039;re forgiven <img src="/community/imgs/emoticons/em-wink.png" class="smilie" loading="lazy" alt=";)" title="Wink ;)" data-shortname=";)" /> Any one can make a mistake.<br /> <br /> For example I felt too confident and tried to trade last night after London close. Just plain stupid. Will not do that anymore.<br /> <br /> This morning early had some problems with the buy and sell script, so had it re install and tested. Seems to work fine again. <br /> <br /> Lets see what the day brings. I have to leave my ego at the door, ot the market will correct me LOL<br /> <br /> Udine</div>

 

[Udine]

<div class="bbWrapper">By the way: isn&#039;t Boulder near Denver. which i believe is great for skiing. Near your place ??<br /> <br /> Udine</div>

 

[Udine]

<div class="bbWrapper">Good morning,<br /> <br /> just returning from a meeting, and notice a collegue fooling around on my computer. You don&#039;t want to know. He thought it was just a game...... <br /> <br /> Have to start all f@#[@#ing over.<br /> <br /> Sorry had to get some steam off.<br /> <br /> Udine</div>

 

[garyfritz]

<div class="bbWrapper">Eeek!! Good thing it was just a practice account!!!<br /> <br /> Boulder is sort of between here and Denver. Both of them are on the east side of the mountains. There is a small ski area about 30mins west of Boulder, but the big ones are 1-2 hours west of Denver.<br /> <br /> <a href="http://www.skireport.com/colorado/map" target="_blank" class="link link--external" rel="noopener">Map of Colorado Ski Areas | SkiReport.com</a></div>

 

[CarrieW]

<div class="bbWrapper">you dont have to start completely over. do you have that posting thing set up? or just go and figure out where you an get a last account balance for end of day before? then restart your demo at that amount of money.<br /> <br /> I always start with the exact same amount of money I was going live with. to make it easier to learn and have it carry over(lot sizes and things)</div>

 

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[garyfritz]

<div class="bbWrapper">I don&#039;t think he got hurt too badly. Either the co-worker didn&#039;t manage to place any trades, or he&#039;s a darn good trader. <img src="/community/imgs/emoticons/em-smile2.png" class="smilie" loading="lazy" alt=":)" title="Smile :)" data-shortname=":)" /> mt4i says Udine was up over 48 pips today -- which I think translates to about 12.2%. I should have such a bad day!!!</div>

 

[CarrieW]

<div class="bbWrapper">I really should look into installing that thing. just before I refill my account I will get it set up.</div>

 

[Udine]

<div class="bbWrapper"><blockquote data-attributes="" data-quote="garyfritz" data-source="post: 181194" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=181194" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-181194">garyfritz said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> I don&#039;t think he got hurt too badly. Either the co-worker didn&#039;t manage to place any trades, or he&#039;s a darn good trader. <img src="/community/imgs/emoticons/em-smile2.png" class="smilie" loading="lazy" alt=":)" title="Smile :)" data-shortname=":)" /> mt4i says Udine was up over 48 pips today -- which I think translates to about 12.2%. I should have such a bad day!!! </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote><br /> Garyfritz,<br /> <br /> I did not get hurt at all. I thought what the hell and let them go, as I went back into a meeting. When I returned the orders he placed all <b>profited</b>. Maybe I should let him play more often<img src="/community/imgs/emoticons/em-wink.png" class="smilie" loading="lazy" alt=";)" title="Wink ;)" data-shortname=";)" />)<br /> <br /> By the way you were close: I had a +11.5 % LOL.<br /> <br /> Green pips<br /> <br /> Udine</div>

 

[Udine]

<div class="bbWrapper"><blockquote data-attributes="" data-quote="CarrieW" data-source="post: 181171" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=181171" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-181171">CarrieW said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> you dont have to start completely over. do you have that posting thing set up? or just go and figure out where you an get a last account balance for end of day before? then restart your demo at that amount of money.<br /> <br /> I always start with the exact same amount of money I was going live with. to make it easier to learn and have it carry over(lot sizes and things) </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote><br /> CarrieW,<br /> <br /> you are right off course, but I was just blowing of steam <img src="/community/imgs/emoticons/em-wink.png" class="smilie" loading="lazy" alt=";)" title="Wink ;)" data-shortname=";)" />)<br /> <br /> I have an excel file with the tradelog and journal, in which I have included a lotsize calculator, which calculates automatically the lotsize of the accountbalance. This way I can check if the scripts I use, use the correct lotsize when I place an order.<br /> <br /> Green pips.<br /> <br /> Udine</div>

 

[Udine]

<div class="bbWrapper"><blockquote data-attributes="" data-quote="CarrieW" data-source="post: 181196" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=181196" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-181196">CarrieW said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> I really should look into installing that thing. just before I refill my account I will get it set up. </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote><br /> CarrieW,<br /> <br /> Why wait?<br /> <br /> It is actually quite easy to install, if I can you certainly can <img src="/community/imgs/emoticons/em-wink.png" class="smilie" loading="lazy" alt=";)" title="Wink ;)" data-shortname=";)" />. If you need any help just let me know.<br /> <br /> Green pips<br /> <br /> Udine</div>

 

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[Udine]

<div class="bbWrapper">Have installed an EA, which has opened a first order. Not the way I would like, so there is room for improvement.<br /> <br /> I might need an EA, as I am too busy with the fulltime job (which I really enjoy btw), to be able to scan for signals during the day.<br /> <br /> Udine</div>

 

[CarrieW]

<div class="bbWrapper">so now I am on a mission lol. its getting close to christmas here(yeah I know right) and I really really want $250bucks to refill my account and do not want to wait. I was planning on taking it out of my check on nov 3rd if I didnt get it out of the hubby before then. <br /> <br /> but the hubby keeps talking about not having any extra money(even tho we do) becauase we need to do christmas(which I know we can do both!) he is really wanting me to hold off on refilling my account untill after christmas. I just dont want to wait. <br /> <br /> rather then just taking the money and causing an argument I have come up with a compromise of sorts.<br /> <br /> I have like 3 big black trash bags full of old school uniforms that my kids have grown out of in the last 2 or 3 yrs. I can probably make several hundred dollars selling them on ebay. <br /> <br /> so thats the plan. I am taking pictures and packing up in groups all the old uniforms and listing them on ebay! wish me luck! <br /> <br /> I am hoping to get at least $500bucks $250 to refill my account and $250 to purchase the netbook I want! <br /> <br /> He agreed that I get to keep the first $500 for myself and anything that I make over that will be community property lol.<br /> <br /> wish me luck!</div>

 

[Udine]

<div class="bbWrapper">Great plan. <br /> <br /> Just look around the house if there is more stuff that could be sold. Otherwise check with relatives they have stuff that can be sold. Tell them you want to start up an eBay business. Sell for them for a healthy commission.<br /> <br /> Udine.</div>

 

[Udine]

<div class="bbWrapper">Btw, the EA opened several orders, not one going in the right direction....<br /> <br /> Better now, than with a live account.<br /> <br /> Obvisoulsy there are still several bugs in it.... back to the drawing board.<br /> <br /> Udine</div>

 

[Udine]

<div class="bbWrapper">The EA opened several orders now, but only the first without SL and TP. It just happens that the one without safety net (SL) is deep red. Now I only have to figure out how come....<br /> <br /> I have to check with the person who coded for me, as I am a complete nobody with regards to programming...<br /> <br /> The others have opened correctly and closed also correctly.<br /> <br /> Something is not correct so I let the programmers do their stuff.<br /> <br /> Udine</div>

 

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[CarrieW]

<div class="bbWrapper">lol I said that to the hubby last night when we were talking about this lmao.<br /> <br /> I said watch shit all over the house is gonna start disappearing lol. he said well nothing of mine better disappear unless I tell you its ok first! <br /> <br /> its understandable he would be concerned because he has alot of collectable things, we sold a bunch of stuff at yard sales already but theres still tons of stuff left, car things you know the model cars things 1/32 or something idk what they are called lol. they are about 10 inches long maybe in nascar teams n stuff. and he also has a huge collection of snap on nascar collectable clocks, baseball cards (an entire 8ft long 2ft high footlocker full) and all kinds of other stuff just taking up space in our attic. <br /> <br /> as for family we dont live near any. pretty much all my friends and family are over 12 hours away. <br /> <br /> I dont want to do this for a job its just a means to an end. probably when the uniforms are gone I will be sick of it. or it could go the other way and I will get hooked and sell everything that isnt nailed down lol.<br /> <br /> after I get done sorting and taking pictures I will have a better idea of what kind of money to expect from them. (most of the uniforms themselves were bought at a discount from ebay but still look brand new) I will probably make more then I spent on them!</div>

 

[CarrieW]

<div class="bbWrapper">probably because (at least on my 6 I am watching) there were indicatiors that things were going one way and then after I placed my pendings(which werent filled) they bounced off a support line and retraced.<br /> <br /> had I placed market orders Id have 6 trades in the red right now. thats one reason i use pendings. <br /> <br /> <br /> most times people use the support and resistance lines to place trades so when it bounces off one instead of going thru it it hits all the purchases and then retraces them into the negitave. it happens to me all the time. <br /> <br /> <br /> however today I got lucky and they didnt get activiated. things have retraced so far now I am deleting them and probably wont be able to place a trade at all this session(as the rsi indicator doesnt corelate with the directions of the current trends.)</div>

 

[Udine]

<div class="bbWrapper">CarrieW,<br /> <br /> the idea was just to have an excuse for the relatives, because normally when you speak with others about wanting to trade forex, everybody thinks your from another planet<img src="/community/imgs/emoticons/em-wink.png" class="smilie" loading="lazy" alt=";)" title="Wink ;)" data-shortname=";)" />)<br /> <br /> It just that I would like an EA to trade for the times I am not able to. Even when I will let the EA on a live account only trade when I feel 120 % confident and only let it trade small lotsizes.<br /> <br /> I have decided to try the bloody thing out and see how it goes. I have now reserved the account for the EA. I will just open another one where I will try different settings for TP (200 instead of 100 (5 digit broker) &amp; the trailing EA (70 instead of 50). <br /> <br /> This way I will be able to speed up the testing process and in the end I will be able to decide how I will trade on my live account. I know my basic system works very well, but I want to check if I can improve some small details.<br /> <br /> Fact is that I want to finish my testing before the end of november, as december is normally a difficult month to trade. That way I can start the nehave a flying start in the new year with going live<img src="/community/imgs/emoticons/em-wink.png" class="smilie" loading="lazy" alt=";)" title="Wink ;)" data-shortname=";)" />)<br /> <br /> Udine</div>

 

[CarrieW]

<div class="bbWrapper">its ok udine, they all know I am from another planet already lol...<br /> <br /> I have been talking about forex for quite a while now they are used to it. lol.<br /> <br /> everyone knows I am crazy already and basically even if they dont believe it what they say to me is that if anyone can do it I can. so in their own way they are supportive even tho they think I am crazy they all know better then to say anything bad about it or me lol.<br /> <br /> and even if they didnt, I am not spending their money so its none of their business. <br /> <br /> from time to time they even ask me how things are going(even tho they dont really care to know lol)</div>