Posted:
#1
Selling two lots of USD/CAD here 1.19955
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11/6........Jumping right in
Posted:
#5
Hi bucknuts, just wanted to say I've been enjoying your forex threads (saw your post on HSM). I just started learning about it last week, so I'm a long way from going live with any significant money, but it's nice to see someone getting good results. Good luck and I'll be reading along.
Oh yeah, any tips on where to get started learning about this stuff? Favorite methods or sites? I've been reading a lot on babypips.com.
Oh yeah, any tips on where to get started learning about this stuff? Favorite methods or sites? I've been reading a lot on babypips.com.
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Posted:
#7
i trade at forex.com....they have free practice accounts and the minis....but just about every site does....
I trade off the 4hr chart mainly and i use the RSI and DMI lines....i trade tops,bottoms and crosses.....and im here everyday
I like HSM too but having too much crap open causes my POS to freeze up and i wasnt getting no responses over there anyhow...You came over on a good night i cleaning up........currently up almost $600 in two trades....set a limit for $800 in CHF/JPY
USD/CAD im leaving open here for a bit .........it has some more room to come down
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Posted:
#12
Wall......if anbody trades stocks and can read charts i dont know why they dont try this.......i use RSI and DMI lines thats it.........crosses,tops and bottoms is all i trade
Really the only thing to is not to panic when you get down...its going to happen but as long as the chart signal is there just stand your ground
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Posted:
#13
Well if I were to investigate there are a series of questions I would ask you regarding your investment ammt and how much you place in a given trade relative to that and if you use some sort of stop philosophy (which I havent seen you use and it scares me to think you arent using stops).
I might have to discuss this more when I have some time...
I might have to discuss this more when I have some time...
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Posted:
#15
i try not to leave trades open....but if i like the chart ill just set a lower limit
Most trades im posting here im only going for 20-30 pips.....havent been able to make any good 4 hr top top trades.......most of them are between 7-11am....but if you look through the 4 hr charts and find +DMI @ RSI on top or bottom together you wont miss......look through the charts.....make sure you zoom out once or twice to see longer time frame,and if you find that combo once they top or bottom out you are never more than one averge away from being good.
At night here ive been trading mostly crosses and they are almost always good for at least 50 but im shooting for the middle and only cashing out with 30 max....there have been a few 4 hr bottom/top RSI trades those have been the big money trades
I would start with a mini with at least $1000....or if ya got it $2000 just so you cant start trading with two lots....i like to keep better than 10 to 1 money in account vs in a trade.......mini lots range $40-$60 each......regular account $1000-$1600 per lot..USD pairs are the cheap ones...
If you cant start with $2000 once you double up take out $1000.......once you get up 5k take out the rest of your original investment...from that point if you just keep banking anything over 5 until you can open reg size account start with at least 15k.....i keep at least 25k in my account at all times will not stray from 10 to 1...its up to you to take profit i do it once a month...
When im on here im trading so just pop in and follow along the practice accounts are free and great learning tools
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Posted:
#16
My buddy wants to start trading this coming week if he opens a mini i will be trading with him for a few days from my place..he was here and was watching me trade and hes been fooling around with it ever since....he knows what im looking for chart wise and hes been doing pretty good in practice account but its hard to miss when you start with 50k...
Hes only starting with $500-$600 but like i told him he could double that inside of 3 weeks.once your trading 2 lots in a mini you could make $100 a day....add at least another $50 to your daily total everytime you trade another lot
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Posted:
#19
Great job bucknuts, I see you've been cleaning up. Congrats!
Didn't get on last night, I went out and picked up Gears of War 2 and was playing all night.
Rick, Bucknuts said he was thinking about doing this for a living, which you certainly can do. Profits in this can be phenominal, but so can losses. I'm still green at this myself, I started with $1,000 mini account a couple weeks ago, I'm down to $950 and that's only because I tailed him on his USD/JPY drop the other night, otherwise I'd be down to $800 or so. It has a learning curve to it.
One of my problems was pulling the trigger on a bad trade too early, I'd be down 30-40 pips on a trade and I'd get scared and get out of it for a loss, only to see it later on become profitable. So you can't panic.
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Posted:
#20
Quote Originally Posted by rick3117:
hey buck, you ever think about doing this for a living?
thats the plan...and eventually im going to trade a few lots just off daily charts...but im hoping by spring to have alot more free time
Iceman thats what i been telling ya just have to wait these out sometimes....i moved my average once this week!!No matter how long it takes once you get into a reg account these two lot trades for 10-30 pips are more than i make in a day workn and ive been getting at least one in everynight...
7-11am is the big money though weve been trading a top or bottom of the RSI or DMI lines we havent had many that were topped/bottomed togethe, those are trades where you can set it for 60 and not worry.....weve had a few crosses with the RSI top/bottom USD/JPY drop was one thats why i said it was good for more...EUR/GBP last Friday was also thats why i left the trade open through close the drop was coming with the cross and the RSI good,it was a no brainer
Sun/Mon whenever we are on together on ICE just follow me.I always post what im looking at and where im looking to get in....Just stay in the trade with me and if we have to average so be it,we will make $$$
Over the last 4 days i even called out trades just b4 i went to bed.lastnight was USD/CAD sell in the 1.1970-80s......got down to 1.1670s and still closed at 1.1890s...i wouldnt have taken 300 pips but i would have taken alot.....i traded that pair off the 4hr and the block to confirm the signal i was trading didnt close until 4am...but it was clearly a sell
A few nights ago i told 1iron to buy USD/JPY set a limt for 30 .......it was good for alot more within two hrs and it was a pair i had traded earlier in the night just like USD/CAD it moved its way back down to my buy in almost.....being that it never sustained the first move the chart didnt change and it was still a buy...
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Posted:
#21
Buc
Want to thank you for starting this thread. Its been good to me so far. I rode that carry over trade with you last weekend fri/sun along with three others this week all positive I got alot to learn, like Ice I was getting out to early. If your stop gets hit so be it its gonna happen thats why its there. Get the fuc# out of that position. Too many more that can be had.
I saw your play for me the other night wish I could have stayed awake too much crown royal with the boys cost me 300 not taking that buy. Try to catch you sun, let me know a time if you can. Buc your the best capper I ever had
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Posted:
#22
Quote Originally Posted by bucknuts:
that's the plan
Dude, everytime I see your updates you're getting around $5000+ per week! That's $250k/year, sounds like you're already making a living to me 
Not to mention, if you're doing this with an account that's got $25k in it, you're gaining 20% a week. At that rate you'd hit $1 million in about six months of trading.
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Posted:
#23
Its only been a few months since we moved up to a big account and ive only been making trades at night for the last 6 weeks or so and for a few weeks i was trading one lot as most of the trades arent off 4hr charts but after i kept getting good results i went to 2...
After having started over several times we became more and more selective on what we would trade and eventually we were only trading in the am off the 4 hr charts and most of the time we were working so we were getting like 1-4 trades a week...
We set $$ back to replenish the account if needed and taking out a flat 40% for taxes....then its a two way split between my brother and myself....weve been doing this for a few years but we have really pretty recently got the hang of our little system..but its been real good last 5-7 months..
As long as theres no major setbacks spring is the goal....a few more months to not work anymore doesnt sound that bad....it may not be that long though i hate working in the winter and if i keep having these kinda weeks i might call it quits b4 Xmas......but again theres just always some voice in my head[besides the wife] that says its been too good and it cant be this easy...and then everything i read says dont go against the trend but thats our system getting in at the top/bottom....time will tell i guess but until then ill be posting in here trying to drum up some interest cause the more eyes on the charts the better
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