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Attachments: What are your most profitable rules in your trading plan?
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What are your most profitable rules in your trading plan?

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  • Post #1
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  • First Post: May 29, 2015 12:02am May 29, 2015 12:02am
  •  stan255
  • | Joined May 2015 | Status: Member | 39 Posts
What are some rules that you use in your trading plan that has yield you a good amount of pips or prevented you from losing a lot of them?
Mine so far has been: "If h1 89 and 200 ema are bearish, look for short trades only and vice versa."
Simple yet so effective
  • Post #2
  • Quote
  • May 29, 2015 1:11am May 29, 2015 1:11am
  •  Macdon
  • | Joined Jul 2009 | Status: Member | 699 Posts
Mine is, if Daily price > 50EMA then go long else if Daily price < 50EMA then go short. That's with a system of choice on a smaller time frame.
 
 
  • Post #3
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  • May 30, 2015 9:05am May 30, 2015 9:05am
  •  numbnuts
  • Joined Jan 2010 | Status: overcaffeinated.... | 1,539 Posts
Only buy a currency when that country's economic indicators are trending higher
Only sell a currency when that country's economic indicators are trending lower

I haven't found a bigger edge than that, and I've looked in a lot of places
si hoc legere scis nimium eruditionis habes
 
 
  • Post #4
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  • May 30, 2015 9:12am May 30, 2015 9:12am
  •  gspajon
  • | Commercial Member | Joined Jan 2007 | 1,063 Posts
Only make decisions on closed candles. Whether to enter, exit, or move stop, or any other rule I have I must first wait for the current candle to close.
 
 
  • Post #5
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  • May 30, 2015 9:19am May 30, 2015 9:19am
  •  TraderRaven7
  • Joined Jan 2015 | Status: Member | 164 Posts
Only place trades with the TREND.
No counter-trend trades even on retracement or pullbacks between major support and resistance levels.
 
 
  • Post #6
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  • May 30, 2015 9:44am May 30, 2015 9:44am
  •  tunera
  • | Commercial Member | Joined Sep 2005 | 2,784 Posts
sell high (retraces) in downtrend and buy low (retraces) in uptrends.
take profits when a new low (in downtrend) or high (in uptrends) is made.
only enter a trade when you're 100% sure it will be a profitable one.

if things don't go as expected, get out
 
 
  • Post #7
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  • May 30, 2015 9:53am May 30, 2015 9:53am
  •  mytrader1961
  • | Joined May 2011 | Status: Member | 424 Posts
Hi,

My most profitable rule is no more trading after 2 losses in a trading sessions. Usually means I am having a bad day. Best to be out.

MT
 
 
  • Post #8
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  • May 30, 2015 10:23am May 30, 2015 10:23am
  •  kuroro001
  • Joined Jul 2007 | Status: Member | 17,468 Posts
Use tight stops, know when you to get out to enter at a better price

Its all a matter of knowing when you're wrong to prevent deep losses
COT: The precious data ignored
 
 
  • Post #9
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  • May 30, 2015 10:59am May 30, 2015 10:59am
  •  COGSx86
  • Joined Dec 2013 | Status: Member | 1,845 Posts
wait for the reversal
Learn, a forex trader must, unlearn and relearn he will.
 
 
  • Post #10
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  • May 30, 2015 12:29pm May 30, 2015 12:29pm
  •  shiva
  • Joined Aug 2007 | Status: Doing It In Dubai | 2,457 Posts
Early on when I started out, wise people said "Its not the entry, but the exits that are important" I smirked at them. I am no longer smirking
 
 
  • Post #11
  • Quote
  • May 30, 2015 1:58pm May 30, 2015 1:58pm
  •  Soros
  • Joined Sep 2012 | Status: Member | 992 Posts
make money.......... thats the only purpose why you do this, ignore the bullshit and stick to the purpose!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
 
 
  • Post #12
  • Quote
  • May 30, 2015 2:02pm May 30, 2015 2:02pm
  •  Divergence
  • Joined Jul 2010 | Status: Member | 9,189 Posts
Reduce risk as soon as possible and manage the trade
 
 
  • Post #13
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  • May 30, 2015 3:02pm May 30, 2015 3:02pm
  •  BillYon
  • Joined Feb 2015 | Status: Member | 924 Posts
Quoting Soros
Disliked
make money.......... thats the only purpose why you do this, ignore the bullshit and stick to the purpose!
Ignored

Exactly!!!
Solutions ONLY!!!
 
 
  • Post #14
  • Quote
  • May 30, 2015 3:24pm May 30, 2015 3:24pm
  •  Pipanator
  • | Joined Jun 2011 | Status: Keep It Simply Stupid | 356 Posts
Use tick charts if price goes against you more than 30-40 seconds in my view get out and reenter even if it continues to rise your losses will be smaller. Also, as the market goes in your direction take of 20% off your position each big move as you will make more profit.

If you make 10-12 losses on your live account go back to demo for 1 month until your profitable again then go back to live to prevent loss of account.
Find your Favourite Pattern
 
 
  • Post #15
  • Quote
  • May 30, 2015 3:31pm May 30, 2015 3:31pm
  •  Ziaf
  • | Joined Apr 2015 | Status: Member | 38 Posts
Let your winners ride!
 
 
  • Post #16
  • Quote
  • May 30, 2015 5:15pm May 30, 2015 5:15pm
  •  turboane
  • | Joined Apr 2015 | Status: Member | 87 Posts
For me whatever the rule. I just keep losing.
Learn to like losses
 
 
  • Post #17
  • Quote
  • May 30, 2015 5:15pm May 30, 2015 5:15pm
  •  TheBinaryBug
  • | Joined Jan 2015 | Status: Member | 10 Posts
enter on resistance/support...exit on resistance/support...
HOPING = LOSING
 
 
  • Post #18
  • Quote
  • May 30, 2015 10:45pm May 30, 2015 10:45pm
  •  BillYon
  • Joined Feb 2015 | Status: Member | 924 Posts
Stay with the plan...
Understand your plan!!! Trade with understood logic!

Understand and trade money according to plan not greed! You may only have enough to make pennies at the moment so collect pennies from the market until they become dollars.

Exit an against the plan loss as soon as you see it!

The only thing you control is risk! Once you enter the market she will do as she will. Manage ya bank!


Don't give up! Don't waist time on bullshit. Learn to see it early!
Attached Image
Solutions ONLY!!!
 
 
  • Post #19
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  • May 31, 2015 12:34am May 31, 2015 12:34am
  •  stan255
  • | Joined May 2015 | Status: Member | 39 Posts
Quoting shiva
Disliked
Early on when I started out, wise people said "Its not the entry, but the exits that are important" I smirked at them. I am no longer smirking
Ignored
I still think the entry is much more important than the exit because if your entry is bad no matter how good your exit is your probability of profit is low.
It's like using a bad trading plan with excellent mm, you will still lose money. Just slower.
What's your thought process or experience that makes you think that exits and more important than entries?

Quoting numbnuts
Disliked
Only buy a currency when that country's economic indicators are trending higher Only sell a currency when that country's economic indicators are trending lower I haven't found a bigger edge than that, and I've looked in a lot of places
Ignored
What do you use to identify and determine a trend in an economic trend?
 
 
  • Post #20
  • Quote
  • May 31, 2015 2:03am May 31, 2015 2:03am
  •  NuNix
  • Joined May 2012 | Status: Thank you Graeme | 1,398 Posts
rules of fractal & zigzag law is the best
Dangdut is a music of my country
 
 
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