who knows the best pip hunter?!

[chrisbenjy]

I think grid trading (GT) and things like that, e.g. martingale (MT) can be useful if they are not your primary trading tool. I would advise having a main account where you trade conservatively over the long run. If you feel like risking more or trying for a higher rate of return then you could open a new secondary account and try some MT or GT approaches, or trade the same way, but with more aggressive lot sizes. You could fund the account using part of previous trading profit. I wouldn't advise using MT or GT as your primary source of trading or funding the account with anything other than retained profit because it is so easy to crash and burn.

[Freddie]

Hi Manu, I've started reading about grid trading and the big problem sees to be that loseing trades are kept open until market comes back or your account is margin called.

[manu1713006157]

Ok Freddie. this is the 1st problem. what about the 49 more of them.

 

You don't have to keep open the Losing Trades. If You will do as everybody else is doing, You will end up making Nothing...as everybody else.

 

Letting your Losses ride is the most ridiculous thing One can do. Respect the Market. Mr.Market hates who does this. he punishes them..those who think they are extra smart,he just Loves to screw them up.

 

there are plenty of ways people use as gridd. I don't know what exactly they are doing. I have my own method.

 

meanwhile why don't you do this: Eur/usd has started possible Bulls again and I think coming 2-3 days we will see Bull close candles. Now on a demo account start Buying after every 25 pips. means after every 25 pips you will open a new Buy Order.

 

I have been buying from 3610, price right now is 3637. two Buy postions are open 3610 an 3630. ( I donot use 1,1-1,1) format...I prefer 6-4 ( means for every 6 buys we open 4sells at same level). This makes things easy when market moves opposite or retrace. You have plenty of chances to come out at BE. Out of 336 usd account.. I have a floating profit of 62 usd right now. Thats a 18.22% already. (although floating) . and Guess what my Trades have just been started. If it gets 150 pips more Up..I will end up making 200%.. If it donot..I will come out at BE. I don't know if I can do anything better.

 

so just try this on demo..spend few days.. You will discover many new things. new challanges, new problems and most Important New Oppertunity.

 

 

three things could happen meanwhile.

 

1. suppose you buy your 1st position at 3650, then price went down.. and you are staing the screen Blank. Of coz Cursing me!!

 

___ solution: open 2buys and 2 sells same time: means Buy [0.1,0.1], sell[ 0.1, 0.1]

then you need to close your sells at appropriate place. where is that ?

.........ok Now you donot need to bother what If market stalls as soon as I starts

 

 

2. after buying 1st position at 3650. and second at 3675. what if market goes back to 3650.

 

_______ well as on 3675 (ur 2nd position) you have bought B [0.1,0.1], S[0.1,0.1]. 2 buys and 2 sells. so what are these sells going to do. (lets assume we have closed our sells of 1st order at 3675, and have already booked a Loss of 50 pips.). Dangerous situation Right. so what now.

 

 

3. after hitting 3675 market went all the way down and down till 3200.

 

________ so now what ?

 

 

You could see some words in Bold. I won't answer all of them Right here.As this thread is not for my purpose. All I want to say... To hell with that... I know what to do and I have been doing It regularly.

 

Yes But I will answer for the Last ( no-3). ______ Let the market Go anywhere It want. because I have already closed everything at BreakEven right at 3650. (of coz.I lost spreads)

 

and Of coz there is better way of handling everything. my Goal is to come out at Big Gains, or to come Out at BE. But never to Lose. this is how I have build up everything.

 

 

I have asked you people to write to me the risk guys think Involved in this whole process , At least you have pointed 1. But we still have 49 more known type of risk and another 499 unknown type of risks. why NoBody is thinking about That. why NoBody is willing to talk about It.

 

problem is people donot want to work, they donot even want to think,they think ah another Junk, ah there is another stupid, or maybe they feel awkward that they might say anything silly. forget It Guys... let me tell you straight. I'm the biggest ***hole .. this is what Mr. Market told me when I talked to him Last. I think he is still Laughing at me.

 

whatever.

 

well freddy I could see you have a new thread. maybe I will post there sometime, If It please you or Others.

 

 

thanks to you all.

[mlee]

problem is people donot want to work, they donot even want to think,they think ah another Junk, ah there is another stupid, or maybe they feel awkward that they might say anything silly. forget It Guys... let me tell you straight. I'm the biggest ***hole .. this is what Mr. Market told me when I talked to him Last. I think he is still Laughing at me.

 

Amen to this, my friend!!

 

People think JUST because they open an account, they can call themselves a trader..... WTF?!?

 

Stay humble, stay foolish...

- the words of Steve Jobs to a graduating college class