600 pips A WEEK, just how good does it get! I like this system!
ut2DaMax
ut2DaMax
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DislikedGBP/USD went up to 1.9779 and now trading at 1.9688.
I'm thinking, how can we take advantage of the high and take profit at some point then re-enter again? It's kinda waste to see the near-100 pips down the drain. hmmm..
Added: Although I do enjoy this simple system though. Probably greedy at the 100 pips "loss". heheIgnored
DislikedYeah, it's very hard to watch those pips go down the drain...trying to determine the risk tolerance here for next week.Ignored
DislikedFor the new TK method on GBPJPY.....
I am trying to figure out what the Sunday close is...... Does this mean the Monday open? I think it depends a lot on the broker time periods. Just trying to determine the correct starting point.
Thanks for any advice here.Ignored
DislikedWow woke up this morning to find the following with using this system.
USDCHF = -10
GBPUSD = +58
GBPJPY = +240
USDCAD = +14
EURJPY = +96
USD JPY = +57
Now up over 380 pips with 6 pairs in 3.5 days.
The other 3 pairs traded still have yet to start.
Thanks again Kimble.Ignored
DislikedGBP/USD went up to 1.9779 and now trading at 1.9688.
I'm thinking, how can we take advantage of the high and take profit at some point then re-enter again? It's kinda waste to see the near-100 pips down the drain. hmmm..
Added: Although I do enjoy this simple system though. Probably greedy at the 100 pips "loss". heheIgnored
DislikedWow woke up this morning to find the following with using this system.
USDCHF = -10
GBPUSD = +58
GBPJPY = +240
USDCAD = +14
EURJPY = +96
USD JPY = +57
Now up over 380 pips with 6 pairs in 3.5 days.
The other 3 pairs traded still have yet to start.
Thanks again Kimble.Ignored
DislikedIf I just went with price @ 8:00 AM Monday [EST], would that work? is this what you are saying in the post? Just trying to understand correctly and keep this simple. Thanks!
ut2DaMaxIgnored
DislikedI am trading this system on the GBP/JPY at the moment. Once I am out of another system's trade, I will be including the GBP/USD as well.
I have changed one thing tho. I really do not wish to give up pips. I also am extremely interested in the compounding effect that Tkimble's excel file shows making 100pips per week.
My initial entry & stop losses are the same. I am looking to take profit at 150pips + the spread (so in my case T/P @ 158). If I am stopped out before T/P, I stick to tkimble's original re-entry but my new T/P will be 150pips+spread+stop-loss (30). If stopped out again, I add another stop-loss to the t/p... etc..
The major change is, of course, the take profit. If I DO take profit at my t/p level, I straddle my exit with 30pip re-entries both long & short. Stop-losses on these 30 pips away. After my initial 150+/- t/p, I let any subsequent re-entries ride until Friday's close.
I feel this should enable me to take 150pips profit on many weeks, and still be able to ride any trends that develop. It is also possible that I can ride one way, take 150pip profit, reverse and profit again once I close out on Friday.
By the way, I haven't done a full backtest on GBP/JPY, but even with the initial entry/stop-loss rules it appears to be a major pip maker. 30 pip risk with in many weeks over 400pip profit (I'm not sure of the average, but I'm pretty sure it's well over 200pips/week). One of the weeks I tested made over 600 pips. The Risk to Reward ratio is definitely better here than on GBP/USD....
Happy pippin' to all!
Daemien
PS: Proper backtesting on GBP/JPY to follow soon...Ignored
DislikedDoes anyone know how to set this system up with a cell for alerts or PDA to Moble trade ... or is anyone doing this? This would really be nice to have when lines are crossed. Just would free up time not sitting infront of the PC throughout the day! IMO .... Ideas welcomed .... Thanks all!
ut2DaMaxIgnored