I have six...(EU, UJ, GU, UC, UCHF, AU)...what other 2 are you using?
watching NY now....looking back at TO and LO sessions ....smoother and clearer entries as expected.
db
Currency strength Trading System for multiple pairs trading 6 replies
beta test this currency strength indicator system 12 replies
Trading system based on individual currency strength 12 replies
any mt4 offer 28pairs major currency? 15 replies
DislikedHeres my 5m....looks different I'm sure due to broker data. {image}Ignored
DislikedThanks for posting your results Wiggles! Rarely done in the FX chatroom arena. Posting makes for much greater credibility. Here is the equity curve for a $10K account I began March 19. I target a 1% account per week and have been slightly exceeding that since March 19. I believe if I keep my current rules in place and simply double my trade size as a percent of my account I can hit 100% account growth per year. I am currently using 0.5% risk to account per trade, and sometimes a good bit less if I am experimenting with a strategy change. I agree...Ignored
DislikedYes, very Impressionistic! LOL It also looks like an electrocardiogram. Or how my ECG looks when I am in a losing trade!! LightheartIgnored
DislikedLooks like markets have been ranging last couple of days? Would you agree? MaMom has been generally quiet? Maybe some NZD and range GBP movement? I find the CSspeed is a bit trickier when market is ranging especially when there is a buy-sell signal.. Slight movements with more pullbacks. Am I interpreting the indicators right? {image} {image}Ignored
Disliked{quote} Welcome Wiggles ! Yes markets been quite. It is clearly to see on H4 with CStrength28. Still you can find movements in lower TFs. The Speed indicator does not show you same way as CS. You look for initial trigger of acceleration/speed. Imagine you are in your Mercedes how many Seconds it takes to accelerate from 0 to 100 ? And then ?? No more acceleration needed, you just drive, all right? So look for the extrem picks of speed when it breaks out of the MFib 23 range and then check CS and chart if there is a trade or not. Here GBPJPY m15...Ignored
Dislikedhi oh nice to see new peoples so we can share some trading and idea well down allIgnored
Dislikedhi oh nice to see new peoples so we can share some trading and idea well down allIgnored
Disliked{quote} Hello Ellenbrook! Yes agreed. Caught GBPJPY Asian sell for +50P---Opened a buy before Frankfort. Time for sleep and closed the trade at +8. Bad news is I missed the rest of the 170 pips! {image}Ignored
DislikedThanks for posting your results Wiggles! Rarely done in the FX chatroom arena. Posting makes for much greater credibility. Here is the equity curve for a $10K account I began March 19. I target a 1% account per week and have been slightly exceeding that since March 19. I believe if I keep my current rules in place and simply double my trade size as a percent of my account I can hit 100% account growth per year. I am currently using 0.5% risk to account per trade, and sometimes a good bit less if I am experimenting with a strategy change. I agree...Ignored
Imagine that you have an account with 10,000 US Dollar and you are ready to lose 2% in a bad trade. You are considering a position on the USD/JPY and the stop loss for that trade is set at a distance of 50 pips. The current pip value per standard lot is, let's say, 9,85 US Dollars. You are now ready to calculate your position's size by using the formula:
Position size = ((account value x risk per trade) / pips risked)/ pip value per standard lot
((10,000 US Dollars X 2%) / 50) / 9.85 = (200 USD / 50 pips) / 9,85 =
4 USD / 9,85 USD = 0.40 standard lots (4 mini lots or 40.000 currency units)
In case you are going to open several positions, the same equation would be used to limit the overall risk in all the open positions. The only difference is that a maximum number of open positions has to be set beforehand and a partial risk attributed to each one of the positions.
The pip value:
Let suppose your account is in USD:
If USD is quote currency of the currency pair. 1 standard Lot (100,000 base units) that the quote currency is the USD such as EUR/USD. The Pip Value is calculated:
100,000*0.0001 (4th decimal pip)=$10
If USD is base currency of the currency pair. 1 standard Lot (100,000 base units) and the base currency is the USD such as USD/JPY. The Pip Value is:
The USD/JPY is traded at 107.107 means that $1=107.10 JPY 100,000*0.01 (the 2nd decimal) /107.107=$9.33. pip value
This is approximated because the rate changes, so does the value of pip.
If the USD is not traded in the pair. 1 standard Lot (100,000 base units) on GBP/JPY.
If GBP/JPY is traded at 141.850.
The Pip Value => 100,000*0.01JPY*1GBP/141.850JPY = 7.05 GBP
Because the base currency of the account is the USD then we need to take into account the GBP/USD rate which is currently at 1.32543.
7.05 GBP/(1 GBP/1.32543 USD)= $9.34 pip value