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Simple Monday-Tuesday System (attached calculator)

  • #2,061
  • Apr 17, 2020 12:23pm Apr 17, 2020 12:23pm
Quoting blamshakk
thanks for the update. I closed all positions yesterday for a nice profit. Maybe one rule should be to use discretion and close before Friday if there is a nicely profitable basket of trades blam {quote}
I have also a nice profit every week. I use for example Equity Sentry v1.4c and put the target to 5 % profit, then its finish for the week...
  • #2,062
  • Apr 17, 2020 12:51pm Apr 17, 2020 12:51pm
Quoting Toppi
{quote} I have also a nice profit every week. I use for example Equity Sentry v1.4c and put the target to 5 % profit, then its finish for the week...
Thats how I trade this strategy also. I use a 5% TP. I'm still tinkering with the number of pairs and SL%
  • #2,063
  • Apr 17, 2020 1:13pm Apr 17, 2020 1:13pm
Quoting bojack34
{quote} Thats how I trade this strategy also. I use a 5% TP. I'm still tinkering with the number of pairs and SL%
I don't use any SL...

I have all major, minor, gold and so on. It's about how fast you can come to % TP. We don't count pips, only account profit
  • #2,064
  • Apr 17, 2020 1:24pm Apr 17, 2020 1:24pm
Quoting blamshakk
thanks for the update. I closed all positions yesterday for a nice profit. Maybe one rule should be to use discretion and close before Friday if there is a nicely profitable basket of trades blam {quote}
Agreed but we may miss big moves in strong trend sometime.
  • #2,065
  • Apr 17, 2020 1:41pm Apr 17, 2020 1:41pm
Quoting Toppi
{quote} I don't use any SL... I have all major, minor, gold and so on. It's about how fast you can come to % TP. We don't count pips, only account profit
horrible business plan. GL
  • #2,066
  • Apr 17, 2020 1:56pm Apr 17, 2020 1:56pm
Quoting bojack34
{quote} horrible business plan. GL
Like this, today
Attached Image (click to enlarge)
Click to Enlarge Name: ZigZag.png Size: 6 KB
  • #2,067
  • Apr 17, 2020 2:09pm Apr 17, 2020 2:09pm
Quoting Toppi
{quote} I don't use any SL... I have all major, minor, gold and so on. It's about how fast you can come to % TP. We don't count pips, only account profit
You are not alone, I don't use SL
In this trade, do what you believe is best for you and forget gurus that we start screening that you can't trade without SL.
  • #2,068
  • Apr 17, 2020 2:16pm Apr 17, 2020 2:16pm
Quoting Ican2020
{quote} You are not alone, I don't use SL In this trade, do what you believe is best for you and forget gurus that we start screening that you can't trade without SL.
How about investment, big bank, Markets Makers. They don't count pips in single assets...

Only make big money on the market
  • #2,069
  • Apr 17, 2020 2:19pm Apr 17, 2020 2:19pm
Quoting Ican2020
{quote} You are not alone, I don't use SL In this trade, do what you believe is best for you and forget gurus that we start screening that you can't trade without SL.
I agree. You should trade 28 pairs plus Gold, Dax and what ever else possible to trade. Trade them ALL as a basket with NO SL ...AND......you should probably hold your trades over the weekend. Just incase the Open of the following week pushes all of your trades in TP. Solid plan.
  • #2,070
  • Apr 17, 2020 2:21pm Apr 17, 2020 2:21pm
If you need a proof... take a look at this week (EURUSD). The Resistance and the Lower have been already defined Tuesday. And the Euro followed it nicely

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 56 KB
  • #2,071
  • Apr 17, 2020 2:26pm Apr 17, 2020 2:26pm
Quoting ursinho4711
If you need a proof... take a look at this week (EURUSD). The Resistance and the Lower have been already defined Tuesday. And the Euro followed it nicely {image}
Very nice!
  • #2,072
  • Apr 17, 2020 3:46pm Apr 17, 2020 3:46pm
that's true, we may miss an even bigger move and lose some potential greater profit. But I like the quote 'I'd rather be out of a trade, wishing I was in, than be in a trade, wishing I was out'

blam

Quoting pundit78
{quote} Agreed but we may miss big moves in strong trend sometime.
  • #2,073
  • Apr 18, 2020 8:59pm Apr 18, 2020 8:59pm
Quoting Toppi
{quote} How about investment, big bank, Markets Makers. They don't count pips in single assets... Only make big money on the market

It was my mistake counting pips, but from now I will count only RR and profit in the %.....SL depends on the strategy, we should use only the small lots, big accounts and follow the trend, and we do not need SL.
  • #2,074
  • Apr 18, 2020 9:12pm Apr 18, 2020 9:12pm
I had a four SL this week, If I didn't use SL I would be in better position now. I will insert SL on the opposite side of the trade from the next week. My entry is 125 and SL will be 125 of the opposite side.
  • #2,075
  • Apr 18, 2020 10:35pm Apr 18, 2020 10:35pm
Quoting Forestralia
I had a four SL this week, If I didn't use SL I would be in better position now. I will insert SL on the opposite side of the trade from the next week. My entry is 125 and SL will be 125 of the opposite side.
I thought you said No SL?
  • #2,076
  • Apr 19, 2020 2:06am Apr 19, 2020 2:06am
Is there any tool in mt4 that can be used to setup multiple TP?
That is set and forget TP with human intervention ones is done.
  • #2,077
  • Apr 19, 2020 4:20am Apr 19, 2020 4:20am
Quoting bojack34
{quote} I thought you said No SL?
Sorry for misunderstanding I did not explain properly. It will not be SL it is change of the trend, long is finished get in short close long and opposite, not a classic SL like now at 50 or 55. I will be in trade as long as it lasts, when it changes direction then close and open an opposite.
  • #2,078
  • Apr 19, 2020 4:50am Apr 19, 2020 4:50am
Quoting blamshakk
that's true, we may miss an even bigger move and lose some potential greater profit. But I like the quote 'I'd rather be out of a trade, wishing I was in, than be in a trade, wishing I was out' blam {quote}
well said.
Don't bet the farm house.
  • #2,079
  • Apr 20, 2020 8:40am Apr 20, 2020 8:40am
Late post.

Results for last week. (4/12 to 4/18)

down 2.09%.

The following trades actually went to TP1, did not reach the TP2, and retraced back to ENTRY or SL.
SELL EURCHF
SELL NZDCHF
BUY EURNZD
SELL CADJPY
SELL CADCHF
SELL AUDJPY
SELL NZDCAD

The following trades reached TP2.
SELL NZDJPY
BUY USDCAD
SELL NZDUSD

So I'm thinking. I'd rather have just closed TP1 on all of these (+10R) rather than get a -2R.

Strategy for this week:
1. +10% Entry, -40% SL.
2. Set TP to 3R.
3. At London 5pm on Wed, Thu, and Fri. Close all trades past R1.
Attached Image
The quick brown fox jumps over the lazy dog.
  • #2,080
  • Apr 20, 2020 8:44am Apr 20, 2020 8:44am
Quoting Erebus
Closed all the real and demo trades already I don't subscribe to the theory of Big Boys trading But there sure is some Ping Pong , Zig Zag dealing happening Might risk a small AUDUSD short for the upcoming (bad) news Cheers to all
Erebus. If I recall correctly, your +10% entry is your demo trade.
Given that you closed both real and demo trades at the same time, which had higher percentage win overall? If alright to share.
The quick brown fox jumps over the lazy dog.
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