Ok... now I know
Every day you learn something new...
Every day you learn something new...
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Quoting pingpongDislikedyou are the man Bog. i set aside 5000 ukp and traded a straight 1% per pip on your method with a 30 pip s/l. Two weeks now into it and my bank has topped 11000. i take 80% off the table for the first 30 pips and leave 20% on to ride a possible bigger move and close the trade on next crossover. its dead easy and simple to operate. I need to watch the charts (obviously) to spot the crosses but once the trade is on i imediately put in a limit order for the 80% to be taken off at the 30pip level. If the market goes against me and im not at the pooter then i still bank a profit even if i get stopped out on my remaining 20%.
simplicity itself.
Well done sir.
I have been trading for some 5 years now and always stuck rigidly to a breakout system which works for me. Following some posts on the factory has made me step out of my security box area and try other strategies.
Im in the uk so can trade tax free which makes even more profit atleast another 38% each month (depending on your personal tax bracket)
have a fab day, mines looking quite good at the moment.Ignored
Quoting minuteDislikedIn which case it was a correct trade. If he went short, on the right side maybe not.Ignored
Quoting maxouDislikedHi
First i would like to apologize for my poor english.
I use the 5/12 cross rsi21 method (without vegas), but I also watch the MACD. For moment I only trade the EurUsd mostly on 15" chart and this system works very well. I watch the 30" and hourly as a trend indicator, I take a trade on the 15" when 5/12 cross and rsi(21) <>50 : long if the trend on 30" and hourly is bullish, short if the trend on 30" and hourly is bearish. The MACD shows me when some entry signals are fake or weak (I don't use exact levels with MACD, rather looking for slope and divergences).
Some days or during news realease, I switch on the 5" chart and use exactly the same method. During flat sessions, I trade on the 30" chart or even hourly chart.
On the 15", SL is generally about -10 pips and TP about +20/25 pips, my exact method is : 1) find a logical level for SL (last low or strong support), 2) take the trade only if the expectancy (=TP) is at least 2x the SL (3x is better sure !). When the trade is open, watch the MACD and 5/12 lines to monitor the TP. Exit on MACD weakness or divergence is not bad, althought sometimes the trade could go higher, but generally this exit system avoid to give back the $$$.
The positions amount is calculated as follow : if I exit with SL, the amount lost don't exceed 0.5% of my trading capital.
I think I have more fake signals on the the 15" (or 5") than on the 30", but also more opportunities, so the result is not bad. +20 to +30 pips net average by day since 2 weeks with the simpliest method I ever seen (exactly +283 pips net in 2 weeks)!!
So I would like to thank all of you for sharing your awesome method
Maxou
FranceIgnored
Quoting renasdadDislikedThis is true, it would have given that much but, a true signal is when the 5/12 rsi/50 cross both happen.Ignored
Quoting johomaDislikedApologies for the poor chart image. I captured the MT4 chart with screenhunter, resized in MS paint by 50% then opened and attached the image. What's the trick others use to post quality charts?Ignored
Quoting renasdadDislikedOk, Ok, Ok,
I'm here man!!!
Will post when I get the chance. As you guys know, I don't have time like I used to though.
This system, I booked 700 pips two weeks ago and 832 pips last week. Things will slow down though due to my new job. As Vegas says, August is one of the slowest months in trading and to get some pips like I did in August amazes me. Lets see what happens with time.Ignored
Quoting pingpongDislikedyou are the man Bog. i set aside 5000 ukp and traded a straight 1% per pip on your method with a 30 pip s/l. Two weeks now into it and my bank has topped 11000. i take 80% off the table for the first 30 pips and leave 20% on to ride a possible bigger move and close the trade on next crossover. its dead easy and simple to operate. I need to watch the charts (obviously) to spot the crosses but once the trade is on i imediately put in a limit order for the 80% to be taken off at the 30pip level. If the market goes against me and im not at the pooter then i still bank a profit even if i get stopped out on my remaining 20%.
simplicity itself.
Well done sir.
I have been trading for some 5 years now and always stuck rigidly to a breakout system which works for me. Following some posts on the factory has made me step out of my security box area and try other strategies.
Im in the uk so can trade tax free which makes even more profit atleast another 38% each month (depending on your personal tax bracket)
have a fab day, mines looking quite good at the moment.Ignored
Quoting Piece Of The PieDislikedJust curious....Ignored
Quoting Piece Of The PieDislikedJust curious....
You seem to be very successful at this. I noticed you took a job recently. Why are you not able to do this full time?
And, thanks for your contribution.Ignored