Entered this trade: broked the trend line and retraces to the dragon.
Have been followed this thread quite some times, thanks to Sonic and TAH and all seniors here.
Happy trading.
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DislikedHi Worldfreedom !
Could you please share your indicator ?
Is it Heiken Ashi MTF ?
Thank you
Best regardsIgnored
DislikedI set the stop real tight once in profit I should have let it run. There will be more.Ignored
DislikedI set the stop real tight once in profit I should have let it run. There will be more.Ignored
DislikedHi WF. Great job, you have been tearing it up here.
Probably important you share a couple extra details with others so they fully understand your approach and what you are doing here. I think this would really help give a little more clarity to the approach.
From your EP - what would you say is your average TP? (I know depends, just an average to give others an idea) Seems like $300 is average win, but I don't see how many pips you are trying to harvest.
Stop Loss - Don't see any mention of size or placement? Very important detail
Trade...Ignored
Dislikedworldfreedom, high leverage has little meaning to trading. It's the risk you take per trade that matters. I could use 1:100 leverage but only risk maximum 2% total capital at any given time. It's the risk that matters, leverage has nothing to do with it.Ignored
DislikedJay,
This is the main reason I do not use stops unless in profit. I always keep a mental stop and I do not bend my stop rules.
God Bless,
World FreedomIgnored
DislikedI do not know how long you have been trading but telling traders that are new that leverage is not important will end them just like Lehman Brothers...Ignored
DislikedRisk and leverage is two different thing. Using leverage could increase risk for but with a proper risk management, leverage doesn't affect much.Ignored
DislikedIf I have an account of 1000 USD, with 1:100 leverage, I would have 100.000 USD to invest. However, for any current time, I risk 2% of my capital, it would be $20 (for example, 0.1 lot and 20 pips stop loss). Leverage helps trader to risk more, however with a fixed risk, it doesn't affect much but it helps retail traders get into the game.
Risk and leverage is two different thing. Using leverage could increase risk for but with a proper risk management, leverage doesn't affect much.Ignored
DislikedJay,
First and foremost Sonic and Tah have a great introduction on their first page. The effort they have put into the explanation on how to trade their system is excellent. The hours they have invested is evident. Sonic is one of the great programmers and traders here at the Forex Factory.
I will tell you I have been trading for years and have trained many to trade the Forex. I have previewed and traded many systems here at forexfactory successfully. What I like about Sonic is his no nonsense approach. He keeps it simple. I could give you...Ignored
Disliked
this video needs to be posted permanently on the front page of FF. Let all noobs (like me) know whats it looks like to lose your equity because of over-leveraging and no protective stop loss in place.
http://www.youtube.com/watch?v=vIMwMsY0ndoIgnored
DislikedIf I have an account of 1000 USD, with 1:100 leverage, I would have 100.000 USD to invest. However, for any current time, I risk 2% of my capital, it would be $20 (for example, 0.1 lot and 20 pips stop loss). Leverage helps trader to risk more, however with a fixed risk, it doesn't affect much but it helps retail traders get into the game.
Risk and leverage is two different thing. Using leverage could increase risk for but with a proper risk management, leverage doesn't affect much.Ignored
YourMaxLotSize = (YourEquity x Risk)/(YourStopLoss + Spread)/PipValue