Titan's PipWorld - page 6
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Institutional Bank Style Trading: Balance Point Trading is how the banking institutions and large retail investors make their money. This is how we as well are going to make ours
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Date: Sun, Dec 23rd 2007
Pending Order: Buy GbpJpy at 225.00
Open Trades: none
To enlarge pic once loaded just click on image.
Titan
p.s. If you have not read post #49 please do so before following any of my trades.
Institutional Bank Style Trading: Balance Point Trading is how the banking institutions and large retail investors make their money. This is how we as well are going to make ours.
Date: Mon, Dec 24th 2007
New Pending Order: Buy GbpJpy at 225.20
Open Orders: none
Status: Two pending orders for GbpJpy, one position has an exit (limit, TP: take profit) set for 226.57 as shown in the pic image below.
To enlarge pic once loaded just click on image.
Titan
Institutional Bank Style Trading: The method in which I trade is called, Balance Point Trading. It tracks the actual tru-value of a given currency, then trades the imbalances of that particular currency pair until the balance point (tru-value) has been achieved. Balance Point Trading is how the banking institutions and large retail investors make their money. This is how we as well are going to make ours. Welcome to Titan's PipWorld...
Rules To Follow (if one decides to trade along side with me):
1). Change Unit Size Accordingly:
2,500 usd accts to 1,000 units (0.01): micro-accts
25,000 usd accts to 10,000 units (0.10): mini-accts
250,000 usd accts to 100,000 units (1.00): standard accts
2). Understand that Balance Point Trading is a long term trading method which can take days, weeks even months before either a take-profit point has arrived or our stop-loss have been triggered.
3). Stop-loss can vary and is consider by most (including myself) to be quite large: 300 to 3000 pips max. Note: Do not let the stop-loss size scare you, yet it will take time to adjust to using one of such size if your not used to it. Why is the stop-loss size so large? As I mention this method is called Balance Point Trading and it trades the imbalances in a given currency pair. An imbalance can be small (thousands of dollars) or very large (billions of dollars). I have no way to measure the size of an imbalance only the tru-value of a given currency, hence the large stop-loss and length of time an imbalance can take to work itself out of the market place.
4). COC, stands for Carry-Over-Credit. Do not ignore COC, its our safety net. When ever we add an additional position to a trade already open the full amount of that trade, once closed successufully is credited to COC. It is never drawn upon except when we take a loss so to cover our loss. Think of it as PTO (pay-time off) or as an insurance plan to cover losses. *Max stop-loss size is 3000 pips, so once COC reaches 9000 pips then anything above that will be swept into our regular acct.
Additional Info:
This particular method has a better than 80% win rate and have been backtested as far back as 1997. At this time both demo-testing and real-acct testing is being conducted. The broker of choice at this time is FXDD and yes, I'm fully aware of the regulatory rules coming into play and that FXDD does not fall under these rules here in the states.
As time progress I will add to this post so if you want to see updates it will be posted here and of course I will always let you know when I have added something. I need a central post to refer everyone to so not to repeat myself in different post.
Merry Christmas, Happy Holidays and may next year be the best trading year ever, Titan
Institutional Bank Style Trading: Balance Point Trading is how the banking institutions and large retail investors make their money. This is how we as well are going to make ours. Welcome to Titan's PipWorld...
UpDate: Wed, Dec 26th 2007
No changes have been made.
Pending Orders: 2
Open Orders: none
Status: 2 pending orders to Buy GbpJpy (refer to post #53 and view pic image)
Additional Outlook: EurUsd tru-value is 1000 pips below where it is now (1.4477), I supect GbpUsd is over-priced atm as well. Which means the Usd is going to get stronger against the euro and pound come next year.
Titan
Institutional Bank Style Trading: Balance Point Trading is how the banking institutions and large retail investors make their money. This is how we as well are going to make ours. Welcome to Titan's PipWorld...
Update: Wed, Dec 26th 2007
Pending Orders: none
Open Orders: none
Status: Will Buy 2 GbpJpy positions at the close of the daily bar, New York Time which is roughly 45 mins from now (time now: 4:15pm est).
Reason for change: I do not want to be left behind in the event GbpJpy doesn't pull back to the level I thought. I will post a pic image once the positions are open.
Titan
Institutional Bank Style Trading: Balance Point Trading is how the banking institutions and large retail investors make their money. This is how we as well are going to make ours. Welcome to Titan's PipWorld...
Update: Wed, Dec 26th 2007
Pending Orders: 1
Open Orders: 2
Status: 2 open positions at 226.74 and 226.73, with one order pending at 223.73.
To enlarge pic once loaded just click on image.
Titan
Institutional Bank Style Trading: Balance Point Trading is how the banking institutions and large retail investors make their money. This is how we as well are going to make ours. Welcome to Titan's PipWorld...
Update: Wed, Dec 26th 2007
I decided to add one additional currency pair, GbpUsd.
Pending Order: 1
Open Orders: 3
Status: Two GbpJpy long positions and One GbpUsd long positions. Click pic-image below for details.
To enlarge pic once loaded just click on image.
Titan
Institutional Bank Style Trading: Balance Point Trading is how the banking institutions and large retail investors make their money. This is how we as well are going to make ours. Welcome to Titan's PipWorld...
Date: Thur, Dec 27th 2007
Time: 8:48am New York Time
Comments: I hope some of you were able to ride GbpJpy and/or Cable (GbpUsd) for a few pips up. GbpJpy hit a nice resistance level of 228.36 and simply fell back 100 pips thus far as well as Cable has slightly pulled back from it's high.
Currency Outlook: Even though EurUsd has managed to work its way higher along with Cable, it is still over-priced with a tru-value sitting around 1.3400. So, its going to be a while before EurUsd reaches that price level and something to consider for the long term investor.
Titan
Institutional Bank Style Trading: Balance Point Trading is how the banking institutions and large retail investors make their money. This is how we as well are going to make ours. Welcome to Titan's PipWorld...
Date: Thur, Dec 27th 2007
Time: 9:29am New York Time
Pic-Image Update On All Current Trades:
Pending Orders: 1
Open Orders: 3
Status: Two open long trades on GbpJpy. One open long trade on Cable (GbpUsd) and one pending trade that will be cancel soon.
To enlarge pic once loaded just click on image.
Titan
p.s. keep in mind that we will only trade Buy-Signals so to keep positive interest in our accts, no sell-signals (short trades) will be placed at any time.
Some of you may not have read my post about the MTF HAS indicator, first and foremost I am not using it as Don Steinikz teaches. My use of the indicator is completlely different. Second, I personally could not consistently generate a profit based on how Don Steinikz explains his MTF HAS indicator, hence the reason I develope my own trading method/rules using this particular indicator inconjuction with a couple others.
Titan