What about reading this topic from the beginning ?
I did and there is nothing about his strategy for scalping and so on, apart from the strategy of the session time range (4.00 -7.00 AM) but with that you cannot 100 trades with 100% win/rate, or “get into a flow with the price” do you think is a strategy?. Please!
This is the only Forum – General Trading Discussions – it is named that in order to encourage us to discuss matters other than Auto-Strategies, Indicators or Screeners etc.
So this is what Shug is doing … telling us about his trading style and results rather than how specifically he is doing it!!
shugParticipant
Junior
Hi Khara
I set myself a challenge to see if it was at all possible to do 500 trades without loosing. Heck I don’t know if its possible, sounds impossible to most people right? well in order to see if it is possible I decided to share my results here. I’m confident that there will be some people here interested on the progression of the challenge, if not let me know and I will stop posting. I would be following someone who said the same thing I said, curiosity would get the better of me to find out and if I saw it was possible it would spur me on to find out what the hell they were doing to achieve those results!
So to answer your questions
- The meaning of my post- It makes the challenge harder for me because I cannot cheat myself I have to prove with results. That’s it, nothing more nothing less
- I don’t have 100% but it would be nice to achieve that!
- I’m sure at some point I will offer my system but don’t you think its a bit premature at this time? I’m not even half way through the challenge as yet.
- thanks
I don’t have 100% but it would be nice to achieve that!
We will all be well impressed with even 90% ! 🙂
Some folk may think … why is Shug bothering for a few points per trade??
The ‘take away’ is that if 450 to 500 trades winning trades can be achieved, then an increase in stake / £’s per point results in a significant overall profit!
shugParticipant
Junior
I just hope I can reach the 500! but if I don’t its the journey and taking part that’s the fun part LOL
Also the misses told me if I can reach 500 trades with very little losses she will stop telling me to stop gambling! She said she just might join me and open her own account to do the same!
As I said before guys wish me luck I’ll need it !!!!
Thanks
shugParticipant
Junior
This is my long term chart I have on my left hand screen. The 2 M.A’s are 5 EMA’s one set to open and the other set to close. Both are stepped to create boxes above and below and the idea is buy green boxes and sell when red boxes. This keeps the direction correct most of the time! 1 look at the chart will confirm that, I have never seen this elsewhere, I got the idea playing with it for quite some time. The lines across the screen are support and resistance lines to give me an idea were the market could change direction or break out. The 5 min chart is different, it has to be to scalp they way I’m doing it which is another unconventional method I think I created (not seen it any ware else online). I like to think outside the box and create things no one else has for taking advantage of the market moves, got to be creative in this environment to stay ahead of the institutions etc otherwise we would become statistics like the minority of trades who lose there shirt trying. Been there and got the t shirt! If you guys could program the EMA’s on a 1 hour chart and stick it on a monitor to observe for a time and only think of trading in the direction I think it could help considerably with your trading in the right direction and let you hold trades longer if you like trading longer term moves. I know everyone figures out there own style of trading they get to feel comfortable with after a time, we all do, my preferred method of trading is scalping in and out quick with no getting tied down for hours or days. I have traded the 1 hour quite successfully in the past but hours and hours on the screen really did my head in!
Anyway I hope this helps
shugParticipant
Junior
Forgot to mention in last post… the way to find support and resistance is to go to the daily chart and put lines at the highs and lows of last few days then drop to the hour chart. really simple but effective no guessing! also If price creates new highs and lows during the trading day use different colour lines so you know which ones are which when using them.
shugParticipant
Junior
Next update on trades will be when I take the 200th trade guys I have a couple of busy days ahead so hopefully I can squeeze some trades in as well as keep this newspaper business afloat. A lot of the kids getting sick and can’t get out to do there paper runs and we have to do them until there back so busy busy bee lately! Roll on that first million with the trading LOL
shugParticipant
Junior
215 trades with just the same 2 slippage trades above! nearly half way there
shugParticipant
Junior
Friday the 13 today, I might give myself a day off the charts and catch up with paperwork and other things! good luck with your trading guys! Ill update again as things progress.
shugParticipant
Junior
I ended up going back on today, couldn’t help myself, wanted to get to half way point! I got it guys! half way there 250 trades fantastic!
