"Pips are vanity. Profit is sanity."
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DislikedToday, for example, I spotted a buy candle formation with USDJPY on H1. No doubt, the trend has been bullish since September 2019. Went to a lower TF and got a suitable price to buy at 109.80. Waiting to hit between 5-10pips and I'm out.Ignored
Disliked{quote} Hi Express, I'm not sure I understand how you're using this method, why do you go to a lower time-frame to enter? And UJ only travels around 44 pips a day currently, so getting a quick 5/10 pip scalp on that pair is not going to be easy. How are you measuring the trend, granted it's been slightly upwards on the daily but it's pretty much in a sideways pattern! But surely the daily trend doesn't have any bearing at all on an H1 five to ten pip scalp, and also the author of the Currency Grail method does say to ignor anything but the two bars...Ignored
Disliked{quote} 1. I look into the lower time frame to get into the trend as quick as possible after a slight retracement that usually follow the candle formation from the H1 in the pdf. 2. How would 10pips out of 44pips be difficult? I don't seem to understand that part of your question either. 3. Like I said earlier, I use demand and supply zones to gauge the overall daily trend. You have not sounded negative a bit.Ignored
Disliked{quote} Thanks for your reply. I was just thinking that five to ten pips is quite a high percentage of a 44 pip daily range. Because at some point you're going to get into a situation where you'll be holding overnight and getting into a Swap problem, and as the TP is a relatively small size negative swap will, over-time, erode your edge!Ignored
Disliked{quote} Average of 3 solid complete candle formations. Its really hard to come by with my other additions though, but when they all form together, u can be sure of high degree TP.Ignored
Disliked{quote} I use my eyes and the little understanding I gained from the use of demand and supply zones to guage the daily trend. There are lots of indicators out there to guage closely the prevailing trend on a given TF, check around for a suitable one for you, else you go through the pains for months to learn how to use Demand and Supply Zones to determine the trend accurately in a glance.Ignored
DislikedHi all! To the ones operating manually how do you set stop losses? I ve been trying on h1 and I put 5pips of TP and 17pips of SL but my RR has me wondering if it's to much risky. My win rate is around 75% in one month. If someone bring me some light I will appreciate itIgnored
Disliked{quote} Manually I'm not using a stop, as the author describs. Would I able to do this on a live account? I'm not sure! But if you're using a stop you could try to place it where the author suggests, but it is a dilemma. Too close and you'll be stopped more often, too far away and one stop-out will negate all your profits for many days. There is no best way.............. On the whole though, if it does go the wrong way against you it usually does come back after a few bars as the author describs. Like all trading it's not easy. With this method...Ignored
Disliked{quote} Yes, it's true that the author doesn't use it. But using the method without stops i have burnt 2 demo accounts. How long have you been trying it?Ignored