josh1111,
I use a small lot size on my first trade position and depending on the Instrument (its spread) I may add a position once its get into profit.
The lot size depends on the Trader's risk appetite.
cpfleger
Danielesse87, I use all MAs as temporary targets only, I watch the wick and candle body as it stated in V4 Rules. cpfleger
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Master could you be more specific please? i have rules on my chart but they are general rules. Wick on both sides, wick on one side only, smaller body than the previous ones etc etc what meaning do they have for you?
Danielesse87,
You may need to watch a few Youtube HA Candle Video's to really get your head around how the HA Candle Body and Wicks communicate with a Trader.
I have always stuck with the 3 Candle Rule (1 Wicked Candles), as these are the momentum candles (Money) and if you look at a typical 5M TF Chart you will see on the average 3 one wicked candles on the majority of trends or countertrends.
Once I enter a trade I zoom inwards as V4 Rules state and I watch like a hawk the Body / Wick sizes, if it looks like its loosing Volume and reduces the Body Size, I exit.
Look at the various screenshots in this Forum and see the 3 candles appearing and these are what you need to train your eyes to watch and see every trade.
But I have using Synergy APB and HA Candles for over the last 15 years also...
cpfleger
This arrow indicator is not repainting and is giving me good result specially in ranging market but the problem is when there is a strong trend it gives multiple fake signals but if you are doing averaging like KoF i think its fine you only have big dd. Need to find filter. {file} {image} {image}
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Please if you have the source code (mq4) file share it. Thank you.
Today's trade: GBP/JPY. I did not trade yesterday it was too much volatility and unpredictable movement, and it's OK traders to not trade every day. It will save your account coming from someone with experience.
1 ) Price entered a 4 hour POI (refined on 15 min)
2 ) I checked cpfleger template and also saw divergence there in addition to RSI 14 on 15 min.
I wait and am VERY selective about my entries. The more you don't chase price, the more consistently profitable you will become. Just wait for it to come to YOU.
And thanks again cpfleger for your awesome template and tips. It has helped me tremendously.
Someone asked me if I take multiple entries at the same price? No I don’t. I buy my way back up.. in this case I bought gbp/jpy all the way down from 158.650 to 158.820 and scored about 20 pips on the .650 orders
erod84,
Your having tooooo much fun here within this Forum, I believe the Banks want their Money back, especially 5 Billion for the Swiss Bank, please pay asap, arhhhhhhhhhhhhhhhhhhh.
cpfleger
erod84, Your having tooooo much fun here within this Forum, I believe the Banks want their Money back, especially 5 Billion for the Swiss Bank, please pay asap, arhhhhhhhhhhhhhhhhhhh. cpfleger
Nive work Erod, don't understand what you're stating here. In this case you mention you are buying up? Next you mention buying all the way down from 82 to 65? I assume it's a typo and you're averaging in from 82 to 65. Notice your trading is evolving and your TP is out to 20 pips on this occasion as opposed to your previous quick in and out 5 pip targets.
Someone asked me if I take multiple entries at the same price? No I don’t. I buy my way back up.. in this case I bought gbp/jpy all the way down from 158.650 to 158.820 and scored about 20 pips on the .650 orders {image} {image} {image}
Nive work Erod, don't understand what you're stating here. In this case you mention you are buying up? Next you mention buying all the way down from 82 to 65? I assume it's a typo and you're averaging in from 82 to 65. Notice your trading is evolving and your TP is out to 20 pips on this occasion as opposed to your previous quick in and out 5 pip targets. {quote}
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It was a slight typo. I’m buying my way up from the touch of my POI around .650 my target was set at .870 (5 pips) for the .820 orders so I also set tp on the .650 orders to .870 so it would juice a little more profit. I started buying at .820 then price spiked violently into the POI so what did I tell you gents I do? I buy buy or sell sell more. This averaged me into a better price and more profit.
By the way, price climbed over 200 pips since touching the POI. Gotta love it.
{quote} It was a slight typo. I’m buying my way up from the touch of my POI around .650 my target was set at .870 (5 pips) for the .820 orders so I also set tp on the .650 orders to .870 so it would juice a little more profit. I started buying at .820 then price spiked violently into the POI so what did I tell you gents I do? I buy buy or sell sell more. This averaged me into a better price and more profit. By the way, price climbed over 200 pips since touching the POI. Gotta love it.
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Thanks for the reply. Going by the commish charge you traded 66 lots and pulled roughly $41 usd per lot giving average of 5 - 6 pips per lot @ conversion of the cross. Not hard and fast figures as i'm not going to worry about breaking it down to much. So still about your 5 pip target.
Cheers
Good day on Gold and UJ.
Persistence will pay off. I am a better trader today than I was a month ago. I will be a better trader 2 months from now. My drawdown is getting better and better every week. This system by CpFleger and a little touch of erod84, works well. Keep going guys and gals.
M1 Countertrend Scalping Strategy
