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A very simple system - trade with arrow

  • #4,221
  • Edited 6:12am Nov 1, 2018 5:24am | Edited 6:12am
Quoting pips29
{quote} take it easy Pundit, 256% in 13 days, that's insane buddy..learn to trade with pleasure and not pressure
Sure Pips, trust me , very soon I will starting a new account with more funds and will try to trade like you, your guidance will always be appreciated.
  • #4,222
  • Nov 1, 2018 5:25am Nov 1, 2018 5:25am
Quoting Boobligoom
{quote} I and probably many here will be interested in how you follow the money management. Tell us a little about what percentage of risk per trade you use. What is the average stop in points? and also your fractional profit taking is very interesting, since I always close the position completely and cannot hold a profitable trade for a long time. thanks
I don't have much thought about money management for when I enter a trade I only think about winning and I can't calculate in advance what my risk will be in terms of how many pips I am willing to take..in other words I don't set a stop like 50 pips for all pairs as they vary..a stop of 50 pips for pairs like the nzdusd,audcad and the like might seem big but it might not be enough for pairs like the dragon ,eurnzd and the like..I tend to use the 34ema, previous swing low/high and/or s/r on H4 and daily for stops and targets..but I think it suffice to say when trading the 15 min tf using the 10/34 ema set up it's easy to know if you are right or wrong and if wrong just get out..I had a kiwi trade yesterday and took small pips when I found the pa not willing to give much..in most part trading is about using your eyes and your precious brain..hope this little bit helps..I just like to add it's about taking the correct direction and you never have to worry about losses
the cautious seldom err....C
  • #4,223
  • Nov 1, 2018 5:37am Nov 1, 2018 5:37am
just posting some easy profit making trades where I marked with a vertical red line using the 10/34 ema set up trading away from the pivot..the probability is high in terms of success..just look out for such set ups and you will be grinning
Attached Image(s) (click to enlarge)
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the cautious seldom err....C
  • #4,224
  • Nov 1, 2018 5:50am Nov 1, 2018 5:50am
When trading the htf some dd is expected and you can probably calculate in advance your risk and that's why I prefer to use M15 set up where the dd is often small and limited but it's not possible to calculate in advance the risk as we take the entry when the set up happens and we do not know in advance when the set up will happen precisely but do have a rough idea that when it occurs you will be in like Flash. As I have taken this pair using the daily I will use a stop on the daily like the 34 ema or swing low..it depends on how many pips you are willing to lose
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #4,225
  • Nov 1, 2018 7:50am Nov 1, 2018 7:50am
Quoting pips29
{quote} I don't have much thought about money management for when I enter a trade I only think about winning and I can't calculate in advance what my risk will be in terms of how many pips I am willing to take..in other words I don't set a stop like 50 pips for all pairs as they vary..a stop of 50 pips for pairs like the nzdusd,audcad and the like might seem big but it might not be enough for pairs like the dragon ,eurnzd and the like..I tend to use the 34ema, previous swing low/high and/or s/r on H4 and daily for stops and targets..but I think...
Thanks for the answer. Suppose you got a stop 50p. How much is the loss in percentage of your total capital?
Trading has been and always will be, a hard way to make an easy living.
  • #4,226
  • Nov 1, 2018 7:55am Nov 1, 2018 7:55am
I often have that if I leave profits to grow, I end up with a stop or +5 pips. When I quickly take a profit, the price goes far without me ...
here is an example
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Trading has been and always will be, a hard way to make an easy living.
  • #4,227
  • Nov 1, 2018 8:17am Nov 1, 2018 8:17am
3 trades taken and locking in at b/e+green pips..risk free now...gotta get some lunch ..bbl
Attached Image(s) (click to enlarge)
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the cautious seldom err....C
  • #4,228
  • Nov 1, 2018 8:19am Nov 1, 2018 8:19am
something to ponder
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #4,229
  • Nov 1, 2018 8:26am Nov 1, 2018 8:26am
Quoting pips29
3 trades taken and locking in at b/e+green pips..risk free now...gotta get some lunch ..bbl {image} {image} {image}
well done, i only got GA...
Do it like a Fool
  • #4,230
  • Nov 1, 2018 8:33am Nov 1, 2018 8:33am
3 trades opened in fresh account, no high risk trade now, lets c how it goes.
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  • #4,231
  • Nov 1, 2018 9:11am Nov 1, 2018 9:11am
Quoting pundit78
3 trades opened in fresh account, no high risk trade now, lets c how it goes. {image} {image} {image}
SL hit on CADJPY trade
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  • #4,232
  • Nov 1, 2018 9:24am Nov 1, 2018 9:24am
Short USDJPY
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  • #4,233
  • Nov 1, 2018 10:15am Nov 1, 2018 10:15am
pundit, your entries are very late
the cautious seldom err....C
  • #4,234
  • Nov 1, 2018 10:35am Nov 1, 2018 10:35am
Quoting pips29
pundit, your entries are very late
Yes a bit late but risk reward ratio is 1:1, lets see.
  • #4,235
  • Nov 1, 2018 10:49am Nov 1, 2018 10:49am
Attached Image (click to enlarge)
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Trading has been and always will be, a hard way to make an easy living.
  • #4,236
  • Nov 1, 2018 11:05am Nov 1, 2018 11:05am
Series of losses on new account, need to review whats wrong.
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  • #4,237
  • Edited 12:18pm Nov 1, 2018 11:14am | Edited 12:18pm
the hourly candle that closed is bearish to me and so I took a short..cci pointing down as well..stop is minimal EDit: stopped out
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #4,238
  • Nov 1, 2018 11:25am Nov 1, 2018 11:25am
Closed first reversal trade in profit.
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  • #4,239
  • Nov 1, 2018 11:29am Nov 1, 2018 11:29am
Quoting pundit78
Closed first reversal trade in profit. {image}
nice one . I was just about to say when the candle closed above the pivot and the ema it was a signal to get onboard for a long at the opening of the next candle...you were slightly late but ended well I missed it but my shorts ended well too
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM15.png Size: 69 KB
the cautious seldom err....C
  • #4,240
  • Nov 1, 2018 11:33am Nov 1, 2018 11:33am
Quoting pips29
{quote} nice one . I was just about to say when the candle closed above the pivot and the ema it was a signal to get onboard for a long at the opening of the next candle...you were slightly late but ended well I missed it but my shorts ended well too {image}
Thanks pips.
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