Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#700,921
Oct 26, 2022 7:41am Oct 26, 2022 7:41am

billytt
Joined Feb 2009 | Status: Trader | 25,867 Posts

Quoting DrDave

Disliked

{quote} When volatility is low, I simply target 5 pips and increase the lot size. It becomes very difficult to not hit the TP.

Ignored

steady Dr, thats my game lol.
Sometimes less is more.

SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.

#700,922
Oct 26, 2022 7:42am Oct 26, 2022 7:42am

Indiara
Joined Aug 2022 | Status: Waiting in the long grass | 1,394 Posts

Quoting billytt

Disliked

{quote} i primarily play rock on the drums, but i love blues, <<<<starts tapping railroad fill., plenty good soul riffs to play especially from the 60s. Music is awesome

Ignored

Oh yes, music is the only universal language of the world....and only music can bring peace to the world imo

I have so much respect from drums and bass players. Without them my timing would be terrible!

I am neither brave nor stupid...I am just a part time trader

#700,923
Oct 26, 2022 7:42am Oct 26, 2022 7:42am

DrDave
| Membership Revoked | Joined Jun 2011 | 9,885 Posts

Quoting GGekkoGreed

Disliked

{quote} lol right. If you look at the spreadsheet its a crazy percent rate and most brokers don't even allow the leverage past 50-1... and this actually isnt 25 pips its 20. basically risking 15 pips on each trade and scaling up after every trade... you have to win 30 in a row though which, isn't impossible but not likely...

Ignored

Risking a mere 15 pips is not a viable approach for essentially any typical retail trader.

To free Gazans of Hamas, use whatever it takes.

#700,924
Oct 26, 2022 7:47am Oct 26, 2022 7:47am

GGekkoGreed
| Joined May 2018 | Status: Trader | 152 Posts

Quoting DrDave

Disliked

{quote} When volatility is low, I simply target 5 pips and increase the lot size. It becomes very difficult to not hit the TP.

Ignored

wouldn't most spreads make it difficult to profit doing that?

#700,925
Oct 26, 2022 7:48am Oct 26, 2022 7:48am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts

Quoting Pat Chiko

Disliked

{quote} UJ LONG N3 {image}

Ignored

UJ

Unload some.
Strategy to protect your capital and let the balance run.

With some plus $$$ in your pocket, one can afford to get stopped out on the open trades.
It may ended up BE, worse case.

Attached Image (click to enlarge)

Click to Enlarge

Name: uj 025.jpg
Size: 180 KB

I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#700,926
Oct 26, 2022 7:50am Oct 26, 2022 7:50am

GGekkoGreed
| Joined May 2018 | Status: Trader | 152 Posts

Quoting DrDave

Disliked

{quote} Risking a mere 15 pips is not a viable approach for essentially any typical retail trader.

Ignored

yeah the idea is 1 ATR on the 15m candle...which is usually about 12-15....

#700,927
Oct 26, 2022 7:50am Oct 26, 2022 7:50am

navk
Joined Oct 2010 | Status: Trader | 21,479 Posts

Quoting DrDave

Disliked

{quote} Risking a mere 15 pips is not a viable approach for essentially any typical retail trader.

Ignored

why 15 pips only ?

Why not The trader can take loss 2 to 3 % of his capital ?

Going purely with technical ( 15 pips ) , IMO, Not advisable.

Intraday only.

#700,928
Oct 26, 2022 7:50am Oct 26, 2022 7:50am

Indiara
Joined Aug 2022 | Status: Waiting in the long grass | 1,394 Posts

Quoting Pat Chiko

Disliked

{quote} UJ Unload some. Strategy to protect your capital and let the balance run. With some plus $$$ in your pocket, one can afford to get stopped out on the open trades. It may ended up BE, worse case. {image}

Ignored

Very nice

I am neither brave nor stupid...I am just a part time trader

#700,929
Oct 26, 2022 7:51am Oct 26, 2022 7:51am

DrDave
| Membership Revoked | Joined Jun 2011 | 9,885 Posts

Quoting Pat Chiko

Disliked

Wisdom from an old spice trader at market place The same energy required in trading a small account is same energy required in trading a big account. That’s why we say test your consistency first with a small account If you’re productive, then trade a big account. It’s just that the big account requires more discipline and control. As you’re trading bigger size, you’ll be much more careful and disciplined. You’ll also have more capital and profit at risk. So, you’ll have higher level of stress. But, the energy required is the same.

Ignored

That's all well and good. But the reality is, typical retail readers simply don't have disposable income to lose in a trade account of more than about $1,000. I got confirmation of this when dealing with a small group of traders. So starting out with a "big" account is irrelevant for most. So what becomes relevant is what "settings" are required to achieve specified gains. This is where a spreadsheet becomes your friend.

To free Gazans of Hamas, use whatever it takes.

#700,930
Edited 8:15am Oct 26, 2022 7:57am | Edited 8:15am

DrDave
| Membership Revoked | Joined Jun 2011 | 9,885 Posts

Quoting Indiara

Disliked

{quote} Oh yes, music is the only universal language of the world....and only music can bring peace to the world imo I have so much respect from drums and bass players. Without them my timing would be terrible!

Ignored

That is why native Americans have a drummer. When he sees the dancers get out of sync, he taps out a few louder beats for the dancers to get resynchronized.

To free Gazans of Hamas, use whatever it takes.

#700,931
Oct 26, 2022 7:59am Oct 26, 2022 7:59am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts

Quoting Indiara

Disliked

{quote} Very nice

Ignored

Me or my trading ?.....

I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#700,932
Oct 26, 2022 7:59am Oct 26, 2022 7:59am

Indiara
Joined Aug 2022 | Status: Waiting in the long grass | 1,394 Posts

It's sleepy time for me now, and it's been a great day. +189 on UJ, although this goes into the Christmas bonus because it was all done with Pending Sells while was sleeping, and +62 from GU and UJ, and no pips went back into the market. Plus I learned a lot today, and I got to spend time with some pretty cool people here. Thank you all

Have fun in NY and make lots of pips.

See you for Uncle Frankie tomorrow

Indiara

I am neither brave nor stupid...I am just a part time trader

#700,933
Oct 26, 2022 8:00am Oct 26, 2022 8:00am

Indiara
Joined Aug 2022 | Status: Waiting in the long grass | 1,394 Posts

Quoting Pat Chiko

Disliked

{quote} Me or my trading ?.....

Ignored

With no doubt it's you!

I am neither brave nor stupid...I am just a part time trader

#700,934
Edited 8:17am Oct 26, 2022 8:01am | Edited 8:17am

DrDave
| Membership Revoked | Joined Jun 2011 | 9,885 Posts

Quoting GGekkoGreed

Disliked

{quote} wouldn't most spreads make it difficult to profit doing that?

Ignored

Yes. But I have a "zero spread" ("raw") account. The typical spread runs a mere 0-5 points, with most of the time within the 1-2 points range. I also get positive slippage on over 80% of my closing fills, so that kicks in some extra profit as well. And that slippage is typically more points than the spread was.

To free Gazans of Hamas, use whatever it takes.

#700,935
Oct 26, 2022 8:01am Oct 26, 2022 8:01am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts

Quoting Pat Chiko

Disliked

{quote} UJ Unload some. Strategy to protect your capital and let the balance run. With some plus $$$ in your pocket, one can afford to get stopped out on the open trades. It may ended up BE, worse case. {image}

Ignored

UJ

Move stop nearer to price, as you can't blow the account doing that.
Let the trade run, it can hit target or SL, anytime

Just don't touch her, she may get excited.

Attached Image (click to enlarge)

Click to Enlarge

Name: uj 026.jpg
Size: 82 KB

I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#700,936
Oct 26, 2022 8:09am Oct 26, 2022 8:09am

billytt
Joined Feb 2009 | Status: Trader | 25,867 Posts

Quoting GGekkoGreed

Disliked

{quote} wouldn't most spreads make it difficult to profit doing that?

Ignored

call it net gain.
Just like our salaries, we have gross and after taxes.Ins etc we have net.
I tend to never ever look at this, as it is part of trading.
BUT... only this week i had noticed slippage but my manual trading fixes... Something like how Dr posted.

SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.

#700,937
Oct 26, 2022 8:14am Oct 26, 2022 8:14am

DrDave
| Membership Revoked | Joined Jun 2011 | 9,885 Posts

Quoting navk

Disliked

{quote} why 15 pips only ? Why not The trader can take loss 2 to 3 % of his capital ? Going purely with technical ( 15 pips ) , IMO, Not advisable.

Ignored

BINGO!

However, I begin a new account by deciding the lesser of 1.5% of the account or the number of dollars that I am willing to hand over to someone on the other side of my trade. After my profits reach a specified amount, I then begin risking a fixed percentage of the profits, up to 5% of the total account. This insures that I never see the initial capital evaporate from the account, hence, I have never trashed an account.

I actually rarely make use of the entire 1.5%, but rather open the trade with 1% at risk.

I treat my account as a long-term low-risk investment, not as a source of income for necessities. I never begin withdrawing profits until it begins generating $1,000 in monthly profits.

To free Gazans of Hamas, use whatever it takes.