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NEW Traders beware the EASY ROAD to riches!

FFxCondor
Oct 19 2015 at 05:56
13 posts
@sbnelson2005, nice post and nice perf BTW!
I agree with you, usually when there is a good opportunity to trade it's when the big boys place their trade too.
@vulkanai, be aware that, depending on your broker and the platform you use, volume can be displayed as 'tick' volume.
Tick volume tells less than the real one, IMHO.

Rome wasn't built in a day
FFxCondor
Oct 19 2015 at 05:57
13 posts
@sbnelson2005, it seems I went trough your stats little bit too fast! Your balance should be @ $3464(deposits+profits-withrawals), or do I miss something?

Rome wasn't built in a day
vulkanai
Oct 19 2015 at 06:23
5 posts
yes I see the spike, but my problem is I'm unable to trade intra-daily. And looking at volume on charts higher than 1hr seems useless.

trade less, earn more
goyankees85
Oct 19 2015 at 06:23
118 posts
sbnelson2005 posted:



I took this trade on Sunday night with light volume as usual and a few hours ahead of a high impact Chinese announcement. WHY would I do such a thing? To prove a point about volume and its significance.

Look at the volume print during the market opening and how price reacts afterwords. Massive volume spikes and price can't go higher? When it comes back to that level on no volume and stops, I have a high probability trade short. I take an ultra safe stop above the swing high on Friday at the end of the day with a 2% risk. I would never let it go that far but it is a mere safety stop in case of ............who knows?

I manually take profit a mere 12 pips away because the reaction is not as sharp as I'd like to see and the price seems to just halt. Result is a 1% return on my account in about 25 minutes. I could have made more by sticking around but you must take everything in context. Sunday night, ahead of big news, not the reaction I'm used to seeing(experience). Bulls make money, Bears make money, Pigs get slaughtered.


 Your lack of experience, or your ability to not think 'out side the box' is what doesn't cause to know how to trade against a over the weekend gap. Say right before market close you have two accounts, in which one you buy and the other you sell as you expect a market gap on Sunday when the market opens. You use all of your margin 500:1 for an example. Explain how a trade can profit by a lop sided market... Yen pairs have been known to gap 200-400 pips over the weekend on gap events. Remember if you use all of your leverage on 500:1 then every 20 pips is 100% profit... A 400 pip gap would result in 2000% in the winning account, while the losing account would have a negative 2000% balance, but brokers will NEVER be able to get those gains from you on a negative account a balance. All in all that form of trading is never even spoken about on forums because most of these 'pros' are to simple minded to even come up with that form of advantage trading themselves. I am a gap trader and I have been doing it for a long time. I can assure that that form of trading will work, you simply need a broker which won't change your leverage right before market close, and a broker which will not have widen gaps prior to market close. It would be best to have a broker which closes once nY session closes!

My avatar explains "social trading" perfectly.
vulkanai
Oct 19 2015 at 06:25
5 posts
I like your trading approach, its quite logical. But it seems geared more towards scalpers, am i correct?

trade less, earn more
Stephen Nelson (sbnelson2005)
Oct 19 2015 at 10:07
41 posts
FFxCondor posted:
@sbnelson2005, it seems I went trough your stats little bit too fast! Your balance should be @ $3464(deposits+profits-withrawals), or do I miss something?


No your not missing anything. I was originally with FXDD until they got bought by FXCM. I lost all my trade history because they made us use their Mt4 platform. I put in a ticket with Myfxbook and FXCM but got nowhere.

When I made the decision to try and become a signal provider around May of this year(never thought I'd get accepted), this account was already setup with Myfxbook. They have a long list of requirements and this account already met a lot of them. Go here and scroll down: https://www.myfxbook.com/autotrade/faq.

As far as the track record is concerned, I was using this account as my 'theory testing' and as expected had a lot of losing trades. Of course as a Signal provider I only trade this account in accordance with my strict trading policies at the present time.

Stephen Nelson (sbnelson2005)
Oct 19 2015 at 10:17
41 posts
goyankees85 posted:
sbnelson2005 posted:

 Your lack of experience, or your ability to not think 'out side the box' is what doesn't cause to know how to trade against a over the weekend gap. Say right before market close you have two accounts, in which one you buy and the other you sell as you expect a market gap on Sunday when the market opens. You use all of your margin 500:1 for an example. Explain how a trade can profit by a lop sided market... Yen pairs have been known to gap 200-400 pips over the weekend on gap events. Remember if you use all of your leverage on 500:1 then every 20 pips is 100% profit... A 400 pip gap would result in 2000% in the winning account, while the losing account would have a negative 2000% balance, but brokers will NEVER be able to get those gains from you on a negative account a balance. All in all that form of trading is never even spoken about on forums because most of these 'pros' are to simple minded to even come up with that form of advantage trading themselves. I am a gap trader and I have been doing it for a long time. I can assure that that form of trading will work, you simply need a broker which won't change your leverage right before market close, and a broker which will not have widen gaps prior to market close. It would be best to have a broker which closes once nY session closes!


Your abusive nature is contrary to what I'm trying to accomplish here. Every post of yours basically calls everyone else an idiot while your track record is less than a month old with absurd returns. Using massive leverage, IMHO will get your account blown. If that's how you choose to trade, fine. I wish you the best of luck.

And while you are entitled to your opinion, I would suggest cutting out the abusive part of your posts. Any post that genuinely tries to help new traders learn is welcome. Antagonistic and abusive posts are not.

Stephen Nelson (sbnelson2005)
Oct 19 2015 at 10:22
41 posts
vulkanai posted:
I like your trading approach, its quite logical. But it seems geared more towards scalpers, am i correct?


Volume has use on all time frames. On higher time frames it used to see major accumulation and distribution. I look at the daily charts, hourly but trade off the 5 minute since I'm monitoring my trades and usually don't trade outside any one session. If I have all the moon and stars aligned I will take a position trade and hold on during the week for that extra return.

Stephen Nelson (sbnelson2005)
Oct 19 2015 at 10:34
41 posts
Still Not convinced volume matters? See how the levels I posted are still relevant as price reacts to it after the China news event and then again hours later. Become a student of Volume.




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remccloud24
Oct 20 2015 at 06:12
4 posts
New trader here,
Is wise to trade NFP? and if so do you have a certain strategy? Like pendings above or below price with tight stop loses?


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