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About Britpip7
Greetings,

Currently running the Trading Made simple for Day Charts and always exploring trading approaches for reliable patterns. Check out Post # 1 - this is kept up to date with templates, key indicators and trading thoughts.

I have been around the forex market since 2007 and am always looking for a greater level of consistency. I have moved away from the 5 and 15 minute bear traps that have bled dry my last two trading accounts and am now trading mainly on 4 hour and day charts, although I do use the 1 hour to verify a move.

In 2010 I found the Norwood brothers at Forex Strategy Secrets and they made a lot of sense and got me to focus on 4 hour and day charts.

Finding the original thread from Eelfranz - Big E in May 2011 was further re-enforcement of the approach and I started backtesting as well as demo trading in June 2011 using both 4 hour and day charts. The results were great and with the latest enhancements to Eric's approach I am looking forward to much less stress and more consistence - current trading accuracy has been over 64% and averaging around 150 to 200 pips per week.

As most of us that have been active on FF for while may know, Big E was battling serious health issues for many years and news is, that he has passed away - In memory of Big E, let's start filling those wheelbarrows with lots of pips. Cheers Eric.

As the back testing and demo forward testing improved, the weekly pips have also improved with the best to date being the first week in August 2011 with over 700 pips from 3 trades (3 pairs - 2 lots per pair). August finished at +950 pips. September is sitting at +750 pips and "Go Live" is October 1st, 2011.

Favorite threads are "Craig Harris Stochastics method" and "Trading Made Simple", plus Lawgirl's "Trade what you see - almost naked trading"

Still learning and to take a quote from Tim Allen out of Galaxy Quest - "Never give up - Never surrender"
Country United States
City/Town Aromas
Occupation Business Management Consultant
Trading Specs
Trading Experience More than 5 years
Trading Style(s) Chartist
Preferred Trading Strategy/System(s) Price Action is King Norwood - Forex Strategy Secrets Trading Made Simple longer timeframes - Day
Preferred Currencies USD, GBP, EUR, JPY, AUD, NZD
Preferred Trading Platform(s) MT4
Preferred Broker(s) IBFX
Favorite Trading Book Trading Currency Cross Rates
Other Markets Traded US Stocks, Options
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Comments
    • Apr 3, 2013 7:37am
    terminator12 terminator12
    For those of you following TMS, you will have seen Rick (dcginc) posting the ATR pips UL Corner (check out his posts on TMS) - settings were: periods = 7 and multiplier = 1. I still use this to set the SL and TP levels, so once these are set , the only changes will be to close early if PA stalls - I will never extend the SL or the TP once set. If ATR 7 = 100 pips, then TP1 = 100pips, SL will either = 100pips or swing H/L. I will also place a second entry, same SL but TP2 left to run with SL changed to BE after TP1 is hit.
    Im trying to understand As u said when ATR& say 100 pips So u set both T/P and S/L 100 pips Is that right .Thanks