I tried to post this strategy set up which I have used for many years on this forum as a part of my daily trading set ups.
With hindsight I should have removed many of the links to my site from the artlice which I just rather lazily copied and pasted here... which then resulted in a banning order (sorry admin)
Anyway that aside the banning order is now over, I have a copy of the email granting me permision to post this strategy.
So to avoid any further forum breaches I will just post the video for the strategy which is hosted on You tube
I tried to post this strategy set up which I have used for many years on this forum as a part of my daily trading set ups.
With hindsight I should have removed many of the links to my site from the artlice which I just rather lazily copied and pasted here... which then resulted in a banning order (sorry admin)
Anyway that aside the banning order is now over, I have a copy of the email granting me permision to post this strategy.
So to avoid any further forum breaches I will just post the video for the strategy which is hosted on You tube
Today's trades took a lot of patience to set up and deliver the goods by the days end. Patience can be one of the bigger obstacles for newer traders as most have that need to be doing something all the time.
Keep your plan and your objective firmly in mind and do not deviate from the plan, let the trade come to you and dont rush after a trade just because you want to be in a trade.
Hammm Nice Videos NB... Thanks for your time and efforts for sharing your strategy
__________________ ''I belive That the gap between dreams and reality can be bridged by the consistent efforts, & That hard work is the Shortest cut to success!!! So Lets Talk about Some Tips To Generate Some Pips''
I tried to post this strategy set up which I have used for many years on this forum as a part of my daily trading set ups.
With hindsight I should have removed many of the links to my site from the artlice which I just rather lazily copied and pasted here... which then resulted in a banning order (sorry admin)
Anyway that aside the banning order is now over, I have a copy of the email granting me permision to post this strategy.
So to avoid any further forum breaches I will just post the video for the strategy which is hosted on You tube
Hi Phil, I've been on your seminars on fx street and have since then adopted your style of trading and I must say it's absolutely great. Thank you so much for sharing your methods. Much appreciated
__________________
In the business world, the rearview mirror is always clearer than the windshield. Warren Buffet
Great vids, NB. Thanks. Out of interest, how many pips did the strat generate in 2007 and what's your typical win rate on this?
Just tok this of my spread sheet for the last 12 months including today with some open trades.
2/3rd is a quick scale out that I take to bank some quick smal profits and 1/3rd is the last portion of the trade which is ran to a larger intraday target.
These figures exlude any trades that were then converted into swing trades for even larger profits.
TOTALS___ 2/3rds___ 1/3rds Aug '07___ _-100______-125 Sept '07______5 ________15 Oct '07______121_______801 Nov '07_____100_______-235 Dec '07______660______-156 Jan '08______160_______405 Feb '08_____-135_______-734 Mar '08______15_________-5 Aprl '08_____135________710 May '08_____395________355 June '08____-72_________948 July '08_____127________312 Aug '08_____10_________270
edited due to formatting issues... looks like the copy and pasted didnt work too well... should read fine now
Last edited by Newtron Bomb, Aug 6, 2008 1:15pm
Reason: formatting issue
Very interesting. I posted a comment on your youtube vid, but I figure I'll post here too. Your results confuse me more in terms of your TP/SL.
How do you determine the TP/SL levels? You noted a 50% retracement several times as being the SL. How about your TP levels? How do you determine the 2/3rd levels?
Very interesting. I posted a comment on your youtube vid, but I figure I'll post here too. Your results confuse me more in terms of your TP/SL.
How do you determine the TP/SL levels? You noted a 50% retracement several times as being the SL. How about your TP levels? How do you determine the 2/3rd levels?
Hello, thanks for your comments.
What you will have heard me say is that the first scale out target is 50% of the stop loss size. This is where I will remove 2/3rds of my position.
so a 30 pip stop loss size I will remove 2/3rds at +15. This is how I manage a break even trade rather than move my stop loss levels... been stopped out too many time for +2 in my early trading by doing that.
You can use any combo you like.... 1/3 at a larger target.... 3/5ths - 2/5ths combo. 50/50 and so on.
I also have an active trade management rule (ATM) for locking in profits at a predefined level, this is also mechanical and rule defined, which to be honest I'm not going to share here as we all have different trade management and trade goals and objectives.
So far UK BofE keeps rates unchanged not sparking any serious interest just yet on GBP movements all eyes now on ECB, which at a guess will also remain unchanged... but you never know they may just surprise us with something and create some interesting movements for me to trade.
Break Out Trading Strategy
Break Out Trading Strategy
