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20 Pips Daily predator

  • #21
  • Jul 9, 2020 2:59am Jul 9, 2020 2:59am
nice indicator indeed, but when does it stop repainting to lower or upper level of the indicator? i am asking so that i can be well informed when to buy/ sell. what is the correct method of using this indicator?
  • #22
  • Jul 9, 2020 3:13am Jul 9, 2020 3:13am
please be guided try this out on demo especially for the newbies.... check this three pairs out in Historical Charts just the three pairs i have outlined... as you continue and understand how it works you would begin to trade with 1:2 risk to reward ratio... you would surely have losing days... i am not providing a flawless system here... trade safe....
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #23
  • Jul 9, 2020 3:26am Jul 9, 2020 3:26am
Quoting DashKing
i need you to try it out too...
i tried it and it worked... waiting for gu to cross above the rectangle
  • #24
  • Jul 9, 2020 3:30am Jul 9, 2020 3:30am
Quoting DashKing
please be guided try this out on demo especially for the newbies.... check this three pairs out in Historical Charts just the three pairs i have outlined... as you continue and understand how it works you would begin to trade with 1:2 risk to reward ratio... you would surely have losing days... i am not providing a flawless system here... trade safe....
yes you are right i tried it on my demo and it worked but gu faked out so waiting for it to close above or below the rectangle again
  • #25
  • Jul 9, 2020 4:59am Jul 9, 2020 4:59am
Quoting DashKing
hello guys why the whole fuss about the indicator?... here is what i am trying to point out here {image} {image} {image}
You had a trigger candle buy on GU.
Why you didn't take the buy signal on next candle?
  • #26
  • Jul 9, 2020 6:10am Jul 9, 2020 6:10am
if you have a very clean break out of two of the pairs... you should know that the third would be held in consolidation... GBPUSD was held in consolidation...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Eurgbp with lecture.jpg Size: 284 KB
Click to Enlarge Name: ff gbpusd breakeven entry.jpg Size: 293 KB
Click to Enlarge Name: full day on EURUSD.jpg Size: 187 KB
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #27
  • Jul 9, 2020 6:14am Jul 9, 2020 6:14am
lets say you took a loss on GBPUSD... the win on EURUSD breaks it even and the WIN on EURGBP is your net 20pips for the day.... but on the long run... when you get the hang of what i am talking about you would adjust to the 1:2 risk to reward ratio.... and i believe that would change the scores dramatically.... but try it out and see am interested in what you see...
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #28
  • Jul 9, 2020 6:19am Jul 9, 2020 6:19am
Hi!

Thank you for the sharing!
Please describe is the box formed 1 hour before London open or 2 hours?

SP
  • #29
  • Jul 9, 2020 6:27am Jul 9, 2020 6:27am
Quoting SuperPip
Hi! Thank you for the sharing! Please describe is the box formed 1 hour before London open or 2 hours? SP
it is the range(high to low) of the 6-7 gmt candle.... transcribed to a 5 minute chart.... and extended over five hours as shown by the indicator....
what you have to do is translate the gmt time to your local time.... then to your brokers time...

my Gmt time zone is GMT+ 1 and so i outline the range of the candle that forms from 7am-8am my local time.... and this happens to be 9am-10am on my brokers platform... thus the settings of the indicator
Attached Image
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #30
  • Jul 9, 2020 6:30am Jul 9, 2020 6:30am
Quoting StarTrek
nice indicator indeed, but when does it stop repainting to lower or upper level of the indicator? i am asking so that i can be well informed when to buy/ sell. what is the correct method of using this indicator?
there is nothing special about the indicator.... it only help to show price range that forms within a time period of 1 hour and then extends the price range on the chart as you can see ...
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #31
  • Jul 9, 2020 6:41am Jul 9, 2020 6:41am
Hi Dash king,

What trading platform do you think is best to use?
  • #32
  • Jul 9, 2020 7:09am Jul 9, 2020 7:09am
Hello,

your strategy makes sense at first glance, I also checked the historical data a bit. Could you tell how long you are trading this way profitably? And maybe you could show some track record? Just to proof that you're really trading this strategy profitably, this would give anyone who will start practicing the strategy way more confidence. Because if you have a track record we could also see some stats like the length of losing streaks and the average hit rate. This will help to develop a fitting risk management.

Another question: what do you mean by changing the Risk Reward Ratio to 1:2 ? When should someone do that with your strategy? And what should be reduced/increased to achieve the mentioned RRR of 1:2 ? The SL only or TP as well?

And by the way: this thread is so new and there are already some negative comments suggesting newbies not to trade this strategy. Such comments unsettle newbies a lot and they often not even try to trade the strategy after reading those comments wrote by some wannabe smart ass traders. As I already said some consistent track record would shut those people up and give confidence to anyone. And regarding the rules: should you stop taking more traders if you achieved the 20 Pips ?

Thanks in advance!

Best Regards,
Babich321
  • #33
  • Jul 9, 2020 7:49am Jul 9, 2020 7:49am
Hi Dash

Interesting thread so far. I plan on trying it out starting next week. Joined the telegram group but can't seem to post there as you must have users locked out at this time.
  • #34
  • Jul 9, 2020 8:26am Jul 9, 2020 8:26am
Quoting Crypt0321
Hi Dash king, What trading platform do you think is best to use?
any good broker would do... just ensure they have good spread and low commissions... And they are well regulated...
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #35
  • Jul 9, 2020 8:30am Jul 9, 2020 8:30am
Quoting Babich321
Hello, your strategy makes sense at first glance, I also checked the historical data a bit. Could you tell how long you are trading this way profitably? And maybe you could show some track record? Just to proof that you're really trading this strategy profitably, this would give anyone who will start practicing the strategy way more confidence. Because if you have a track record we could also see some stats like the length of losing streaks and the average hit rate. This will help to develop a fitting risk management. Another question: what do you...
How about you build your own track record..?. I could cook up any result and post just to excite you! Trade the concept forward and see how well it plays out... Past result doesn't guarantee future results...
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #36
  • Jul 9, 2020 8:31am Jul 9, 2020 8:31am
Quoting ozziedave
Hi Dash Interesting thread so far. I plan on trying it out starting next week. Joined the telegram group but can't seem to post there as you must have users locked out at this time.
It's just a channel... My go-to post.... The group would be necessary when we become more familiar with the concept....
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #37
  • Jul 9, 2020 8:41am Jul 9, 2020 8:41am
But I promise you... There would be losing days.... Loll... Did I just hurt your feelings...?
... Please don't get too hyped.... Just do your homework... And judge for yourself....
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #38
  • Jul 9, 2020 8:50am Jul 9, 2020 8:50am
hum maybe
  • #39
  • Jul 9, 2020 12:19pm Jul 9, 2020 12:19pm
What's ur telegram group called? Looks interesting idea/system.
..
I'm not too concerned what kind of candlestick price has formed but I am co
  • #40
  • Jul 9, 2020 12:52pm Jul 9, 2020 12:52pm
Quoting Babich321
Hello, your strategy makes sense at first glance, I also checked the historical data a bit. Could you tell how long you are trading this way profitably? And maybe you could show some track record? Just to proof that you're really trading this strategy profitably, this would give anyone who will start practicing the strategy way more confidence. Because if you have a track record we could also see some stats like the length of losing streaks and the average hit rate. This will help to develop a fitting risk management. Another question: what do you...
nice questions Babich321.... talking about the risk to reward... i advice a 1:1 using 20pips stop this is ideal in my opinion(binary traders get way less than a 1-1 per trade and i guess they are still fine)... though as time goes on you can actually get a good hang of the trading system with a lesser stop...especially when you get to know the pair that would be consolidating for the day... but that would be too tight for naive newbies who dont understand price gyrations... And with time we would incorporate the 2nd target (this would help in maximizing good trades)... which would be closing part of your position and letting the little remaining run till the close of the day... but for now... lets test forward and get to see the different scenarios that price would offer us...

But for now i just advice we keep things simple ...get your 20 pips and be done for the day...
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
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