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  • #61
  • Apr 28, 2023 11:51am Apr 28, 2023 11:51am
Quoting gerval
Objective reached. 1- SL (-30 pips) 2- TP (+95 pips) Nadi-fx you said that it moves BE when it goes 30 pips in its favor, but in case you see that it is close to 1:3 and it turns against you in a significant way, act in some way if you are in front of the screen or let it develops alone without acting? {image}
Nice bank there, well done.

GL
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  • #62
  • Apr 28, 2023 12:00pm Apr 28, 2023 12:00pm
Quoting mdz4h5
Do you keep positions open over the weekend?
Good question.
I try not to. Most times I close it. Like this buy trade that I am in... if the target is not hit and its hanging around +70 pips or so I would just bank it and call the week.
However, if ever i was lucky enough to fall into a trend that I am in significant gains like 200 pips and going on a strong PA, in such rare case I would secure +100 and let it ride over the weekend with plenty of room to not be affected by Gap action.

The main reason for not leaving positions open over the weekend is to not risk your account. If a financial Armageddon happens your stops will not be honored, and you could lose your whole account (could get massive gain too)... so not wise to risk that.

Therefore its better off to close all position remove all orders keep the account free and clear. I have alert set for hour before the Friday close to assess the situation to do so.

I hope it helps.

GL
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  • #63
  • Apr 28, 2023 2:28pm Apr 28, 2023 2:28pm
Very helpful. Thank you. Looking forward to following this thread.
  • #64
  • Apr 28, 2023 5:02pm Apr 28, 2023 5:02pm
Clean chart the buy position closed an hour before market close good for +55 and all other orders removed.
I netted +45 on five trades, 3 stops and 2 winners one full one half. A bit disappointed I didn't get my weekly goal of 100. On sideway action week the results should be better... realistically the week was good for +140... if the bounces were a bit less sharp could have been a 200+ week. Not bad for a week when PA range was no more than about 140pips all together.
The real dagger for me was missing the sell trade by 2 pips... also, two stops being hit by 1-2 pips didn't help either otherwise I would have had a monster week. Thats the way it goes at times.
Missing the first sell trade was totally my mistake as i did not draw my line correctly off by 4pips or so.

Just the little summary of the week behind us.

Great having you all around.

GL.
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  • #65
  • Apr 29, 2023 2:25am Apr 29, 2023 2:25am
Thanks for sharing your trading style and the details on how you approach the market. Your focus on risk management and sticking to a plan with discipline is a valuable reminder for all traders.
One question: How do you determine your trade size for the upcoming weeks based on your available equity?
  • #66
  • Edited 11:47am Apr 29, 2023 9:06am | Edited 11:47am
Quoting Dariusfxlife
Thanks for sharing your trading style and the details on how you approach the market. Your focus on risk management and sticking to a plan with discipline is a valuable reminder for all traders. One question: How do you determine your trade size for the upcoming weeks based on your available equity?
Yes, based on available equity risking 1-2%.

$1500 x 2% = $30 / 30 pips SL = $1 per pips

Accounts 50K under risk 2%... 50K+ risking 1% (recommendation)

GL

ps) I must add, when we talk equity, you must assess that safely. Equity is floating! Meaning your open positions could go against you and you must know what the worst-case scenario is and calculate your risk accordingly.
Otherwise just go based on Balance.
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  • #67
  • Apr 29, 2023 7:18pm Apr 29, 2023 7:18pm
Hi thanks for your thread.
A couple of questions if I may.

Do you drop down into smaller time frames when looking to exit a trade or are you strongly disciplined to remain on H4?
Do you ever have multiple positions open and if so does this come about by adding market orders or do you place limit orders again?

Thanks
Its all just one persons opinion
  • #68
  • Apr 29, 2023 8:54pm Apr 29, 2023 8:54pm
Quoting axecap
Hi thanks for your thread. A couple of questions if I may. Do you drop down into smaller time frames when looking to exit a trade or are you strongly disciplined to remain on H4? Do you ever have multiple positions open and if so does this come about by adding market orders or do you place limit orders again? Thanks
Hi ax,
No, I never drop down if anything I look up to D1. Anything under H4 is noise to me.
I hardly ever have multiple open positions... if I ever do is on two instances;
1) When I am on hedge... meaning I decided to not exit at a level looking for more profit but at the same time been triggered at that level in opposite way, bcz I still will test the level.
2) I could be in some trades in heavy profit for 1/10 the load... for eg, I have banked 90% and just let 10% run for however long it maybe.
This is something I was going to get into in this thread when the opportunity arrived.

I hope it helps.

GL
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  • #69
  • Apr 30, 2023 12:06pm Apr 30, 2023 12:06pm
Hi GL, what a nice, simple method. Thanks for sharing! I will be following and learning from you this week! I’m curious what broker you use since you live in the USA and also hedge.
  • #70
  • Apr 30, 2023 1:07pm Apr 30, 2023 1:07pm
Quoting elway
Hi GL, what a nice, simple method. Thanks for sharing! I will be following and learning from you this week! I’m curious what broker you use since you live in the USA and also hedge.
There are serval brokers. Please do own research.

To all...
I would like to not have any broker discussions in this thread, respectfully.
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  • #71
  • Apr 30, 2023 7:21pm Apr 30, 2023 7:21pm
nadi-fx... nice thread, well done! I may have missed this, but given the clean chart on post #64 do you place 4 (or is it 5) sell/buy limit orders at the designated levels above and below price at the start of this week? Cheers.
  • #72
  • Apr 30, 2023 7:25pm Apr 30, 2023 7:25pm
Quoting pakeha
nadi-fx... nice thread, well done! I may have missed this, but given the clean chart on post #64 do you place 4 (or is it 5) sell/buy limit orders at the designated levels above and below price at the start of this week? Cheers.
Thank you.
I am about to place all my orders and then will post my chart.

GL
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  • #73
  • Apr 30, 2023 7:55pm Apr 30, 2023 7:55pm
Here are the levels for this week I got five limit order going to start it al off.
The whole range inside this sideway action is 190pips. If PA plays inside the box, you will make money... if it breaks out, you will be hit with some stops but might be riding in on a breaking out. targets if you choose to set one should be on top and bottom to get 3R+... for now I have left it alone to not crowed the chart also might give the PA the chance to break out one for me to enjoy a bit of a trend money, who knows.
Most importantly you don't wanna miss a ride and for that you need to test the market at these levels.
gotta be in it to win it lol.

I highly welcome you to share your chart.

Best of luck to all for this week's trading.
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  • #74
  • Apr 30, 2023 8:07pm Apr 30, 2023 8:07pm
Recommendation;
I have my phone alarm set to check the chart every 4hrs on start of every H4 candle.
At my time zone west coast time it goes like this... 2PM market open and close, 6pm,10pm... 2am off bcz i am sleep and don't wanna be bothered at no cost.. 6am, 10am.
5-10min spent on the chart if I have to make adjustments but more importantly to just be engaged with what's going on.


GL
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  • #75
  • Apr 30, 2023 8:21pm Apr 30, 2023 8:21pm
Quoting nadi-fx
Here are the levels for this week I got five limit order going to start it al off. The whole range inside this sideway action is 190pips. If PA plays inside the box, you will make money... if it breaks out, you will be hit with some stops but might be riding in on a breaking out. targets if you choose to set one should be on top and bottom to get 3R+... for now I have left it alone to not crowed the chart also might give the PA the chance to break out one for me to enjoy a bit of a trend money, who knows. Most importantly you don't wanna miss a...
Thanks for your thread. Do u make consistent profits out of this method.
Arun
  • #76
  • Apr 30, 2023 8:27pm Apr 30, 2023 8:27pm
Quoting nadi-fx
Here are the levels for this week I got five limit order going to start it al off. The whole range inside this sideway action is 190pips. If PA plays inside the box, you will make money... if it breaks out, you will be hit with some stops but might be riding in on a breaking out. targets if you choose to set one should be on top and bottom to get 3R+... for now I have left it alone to not crowed the chart also might give the PA the chance to break out one for me to enjoy a bit of a trend money, who knows. Most importantly you don't wanna miss a...
Thanks. Do you consider 1.10611 ish level as "expired" ?
Its all just one persons opinion
  • #77
  • Apr 30, 2023 8:58pm Apr 30, 2023 8:58pm
Quoting nadi-fx
Recommendation; I have my phone alarm set to check the chart every 4hrs on start of every H4 candle. At my time zone west coast time it goes like this... 2PM market open and close, 6pm,10pm... 2am off bcz i am sleep and don't wanna be bothered at no cost.. 6am, 10am. 5-10min spent on the chart if I have to make adjustments but more importantly to just be engaged with what's going on. GL
yeah, understand completely… nice to have a trader in the same time zone as myself. You have a Fiji connection?
  • #78
  • Apr 30, 2023 10:04pm Apr 30, 2023 10:04pm
Quoting arunthegreat
{quote} Thanks for your thread. Do u make consistent profits out of this method.
Hi, Yes I do. I have been trading the same way for long time bcz my market philosophy is to get in out where money seems to be getting in and out which is at Levels.
However, don't take my word for it and go broke lol... forward trading in this thread will tell.
... also as you know, in the end of the day results would vary from trader to trader.

GL
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  • #79
  • Apr 30, 2023 10:07pm Apr 30, 2023 10:07pm
Quoting axecap
{quote} Thanks. Do you consider 1.10611 ish level as "expired" ?
This level is tricky, price clearly bounced nicely from it but if I would take up on this level it had to be based on the new high which is that long wick a bit higher. Quiet a bit of money was inserted there to push and reject so if price gets there again it very well could test the HH... so at 10611 my stop will be hit.
I like the observation, good on you I hope my take helps.

GL
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  • #80
  • Apr 30, 2023 10:12pm Apr 30, 2023 10:12pm
Quoting pakeha
{quote} yeah, understand completely… nice to have a trader in the same time zone as myself. You have a Fiji connection?
What's that bud?
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