I am posting my GBP-JPY chart.(I trade only daily weekly and monthly charts)
I have 7 legs on this pair from last 4 weeks.I would like to share my experience about different currency pairs.
EUR/USD,USD/CAD these pairs have daily pip movement of about 50-70 pips.For this pair my s/l is 30 pips on daily,70 pips on weekly and 120 pips on monthly time frame.
EUR/JPY and other JPY crosses have daily pip movement of 70-100 pips.For this pair my s/l is 70 pips on daily,150 pips on weekly and 200 pips on monthly time frame.
If there are any queries...Ignored
Hi Prakash and Others,
You are (prakash) doing well man. I also have similar results on eur/usd and usd/jpy, but my trades are based on weekly and daily charts. I started usd/jpy on 14th November and till this moment its up by +607pips.
Entered into eur/usd on 15th November and it is still running with +452pips.
Anyway i am not boasting about my trades, just sharing what i am doing with this method. I don't know what will happen tomorrow for my trades, but i am certain that, i will not go negative because i already set breakeven points.