Good luck to you too micro. I'll be on the road today so will be trading mobile and might not get a chance to post up my trades until tomorrow.
You mentioned you're in Malaysia? Which part?
You mentioned you're in Malaysia? Which part?
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DislikedGood luck to you too micro. I'll be on the road today so will be trading mobile and might not get a chance to post up my trades until tomorrow.
You mentioned you're in Malaysia? Which part?Ignored
DislikedLuke, thanks for enlightening me on the martingale part. Is any increase is martingale, regardless double or not, then I might as well go ahead and call it martingale
As for whether or not I feel that I'm missing out on a lot of pips for quitting trading the whole week, how do I explain...
Although I haven't been trading that long, in the beginning I've always felt the frustration of not being able to keep pips. Making them is not all that hard, but the real issue for me is losses that occur before or after that shadow the profits I made. Not only was I testing this strategy without these restraints as you say, my live account took quite a beating from it.
Ever since I decided to stick with only 50 pips a week, it suddenly feels a whole lot more probable to keep 150-200 pips per month.
May I ask, Tampa Luke, are you already trading live?
I think it is dangerous to look at the charts and start thinking of all the possible pips I can make, or all the ones I missed. That's usually what a new traders get excited about, and that's how I lost my account. But when you trade live, the reality is far different from that.
Just my two cents.Ignored
Disliked
I think it is dangerous to look at the charts and start thinking of all the possible pips I can make, or all the ones I missed. That's usually what a new traders get excited about, and that's how I lost my account. But when you trade live, the reality is far different from that.
Just my two cents.Ignored
DislikedI trade mini lots on oanda. I have been trading live for almost a year. I trade only one pair, one way, profitably. So I am not about to question anybody's trading knowledge because mine is very limited.
You can't blow up your account with a winning system and proper risk management per trade. Doesn't make any sense to stop at 50 or any other arbitrary number. It's like the poker player saying he is gonna get up as soon as he is up a certain amount. That is a flaw, you should stay as long as the game is profitable. So why would trading be any different? If you hit 50 on Monday and stop trading. Then on tuesday you have a great breakout setting up, you don't take it? Does that make any sense?
You aren't going to measure your trading profits by the week, you will measure them by the year. So what happens each week it irrelevant. If you are trading in a well capitalized, profitable way, the results don't matter day to day.Ignored
DislikedTampa luke,
Here's my take on one aspect that you brought up for question. The Take Profit of 50 pips within the threshold of the the time frame and order expiry window may on average only allow for a very limited number of 50 pip forays in any given trading week. Perhaps only one. Perhaps that singular 50 pip foray sometimes occurs early in the week and sometimes later (again, within the context of this system's "box" and the short time window when the pending order expires). Perhaps the 50 pip movement generally doesn't repeat the excusion more than once a week. Then la maya k's system is capturing that singularity virtually every time the market offers it. Additional trading for the week under those circumstances would only result in additional losses.
So why push the limit when it is more likely that you will encounter a loss rather than additional profits? Makes perfect sense to me.Ignored
DislikedGreat comments
Good trading IMO is based on projected targets. Dreaming about all the missed pips on the chart will leave u in a spin chasing the impossible. This is a gamblers downfall >> GREED.
Like La Maya. I have targets, managed by my limit order that I use on every trade. Sure i don't catch every pip on offer but I stay in front and that's all that matters.
Being consistent with discipline.
Good trading La maya.Ignored
DislikedMicro, did you set up your trades after 5 pm? Because I set mine earlier at 4.40pm, and the small spike at about 5 pm took out my buy trade. No regrets about that, will try again tomorrow, but it makes me think whether ot nor I should study further about opening trades only after 5 pm.
Any thoughts?Ignored
DislikedMicro, did you set up your trades after 5 pm? Because I set mine earlier at 4.40pm, and the small spike at about 5 pm took out my buy trade. No regrets about that, will try again tomorrow, but it makes me think whether ot nor I should study further about opening trades only after 5 pm.
Any thoughts?Ignored