
TP1 level Thanks to fx2248 for a great indicator. Quick question on it, shouldn't the TP1 level be the hilo plus the +20 on each side for the box dimensions? My calculations have TP1 at + 129 pips, could others be kind enough to correct me if I'm wrong. Thanks Jim 
money management

fib at 50% decline now at exactly 50% of advance from low aug 7 

1000usd

Work out the amount of that 1000 you are prepared to risk. Conservative traders are around 13% (meaning about $10$30 in your case) and agressive is about 5% or $50. That is the amount you are comfortable with lossing. Then find out the risk and work your lots in from there. So if the risk is 50 pips at 5% you are looking at 1 mini lot. It may not sound like much, but that 1 mini lot that gets you 100 pips will equal about 10% increase in your account, which is a great result. As time progresses, and if your successful then the account will increase and hopefully so will your lots. The secret is not to look at your trades in $ value, that brings greed into the picture. You will see time and time again traders post that they double or tripled there account on 1 trade. That requires rediculous risk, rediculous Leverage and alot of luck (not skill) or a combination. If you are new to trading, then $1000 is more than enough. If after 6 months you are seeing constant success then you should add to it, depending of course on how you want to manage your trading life (ie full time endevour, part time, Beer money for the end of week). The other point I will make is that once you are set on a risk %, keep your trades at that. A great killer of a smooth equity curve, and ultimatly your account is constant fluctuations of risk (especially after posting a few winners you feel the need to increase it to get more (note; GREED)) only to find that you loose on that trade and it takes are larger chunk out of your account. Wish you all the best out there. Remember to expect to loose, manage your winners when they happen and stick to a plan and things will perhaps work out alright for you in the long run Razor 

Risk table 1 Attachment(s) I'm going to post this risk table which I find useful. It's easy to use and accurate enough for most purposes. I didn't program it  thank you to whoever it was here on FF. Don't forget that if you trade this strategy with multiple TP targets then you need to multiply your stop losses as well. (Surprisingly easy to ignore) Also if you are placing trades with other strategies on the same pair or correlated pairs eg any yen pairs part of your margin is already spoken for. Hope someone finds this useful. FXRisktable.xls 

Lot size 1 Attachment(s) I have not seen it mentioned in the lot size discussion, so just remember that the pip value changes depending on what currency your account is in and which pair you are trading. See the last column in the attached pic. 
Anyone using this on EUR/USD or GBP/USD? Just wondering if anyone is using this system with EUR/USD or GBP/USD with much success. 
my TP1 already hitted. Move others to breakeven..lest see tonight... 
http://www.forexfactory.com/showpost...postcount=1623 
This Is My First Trade.. Honestly I Start With One of The Broker With Micro Account Of $30 Only.. My Target For A Week Is At Least 30pips.. Now Price Is Below Our 1st Target Profit So I Move My Stop Loss At It.. Secure At Least 60Pips.. Ive No Regret If Price Hit My Stop Cos I Achieve 2x My Weekly Target..If Price Go Beyond My 2nd Profit,I Will Lock In My Profit At 100pips.. Any Chance For Price To Go Much Lower?? Hopefully The Bear Have Enuff Honey For This Week.. UPDATE: Price Is At 2nd Profit.. Locking My 100pips.. 
1 Attachment(s) 
It can be if you want , but I am happy to use multiples of the box size. The difficulty is people use different buffer sizes and have different spreads so there can be a many different calculations. If someone who knows how to program in MT4 they could make it configurable. I actually only use the TPs as a guide and look for fib levels and S&R lines for my exits. 
Hi FX: Thanks for your reply, that makes a lot of sense. My first day using your indicator and it's very profitable, thanks again. Jim 
TP2 hitted already....87 + 174 pips banked in..Thanks ACE for da great system... 
This really is a great system. Week after week it produces pips for me and they are fairly stress free 
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