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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #33,141
  • Sep 27, 2007 2:43am Sep 27, 2007 2:43am
Quoting lawrh
Open an Oanda account. Trade 2500 units, that will give you 21 cent pips, so a 60 pip stop loss will equal 2.5% of a 500 dollar account.

Thx lawrh,
Everyday I learn something new on this thread.
Many thx to all!
"Quitting while you are ahead is not the same as quitting".
  • #33,142
  • Sep 27, 2007 2:43am Sep 27, 2007 2:43am
With MBT / EFX it is possible to get 500 pip stop loss for even 1% of account..with $500 account. it gives so much room for 60 pip SL

use 0.05 lot (5cent/pip) or even 0.1 lot (10cent/pip) i.e trade GBP/JPY or whatever currency you like ......
  • #33,143
  • Sep 27, 2007 2:44am Sep 27, 2007 2:44am
Quoting imransait
since its going to be an experiment, i dont want to risk more then 500$, if i can achive the 10-15 pip return consistently for 3 months using the 1min scalping strategy for g/jpy , then i would feel that its worth to continue this, if not, the max i loose is 500$ .
I do have my live a/c in MBT apart from what i intend to start this experiment
I am thinking of opening another additional a/c with MBT as i love the spreads there

If you trade Eur/Usd, to make that 10pips where do you place your SL?
  • #33,144
  • Sep 27, 2007 2:44am Sep 27, 2007 2:44am
Quoting imransait
Well, i would rather depend on my charts then on luck, luck has no place in trading, it may come once in a blue moon
I agree, but for me LUCK is: to be in right place on Right Time
  • #33,145
  • Sep 27, 2007 2:44am Sep 27, 2007 2:44am
Quoting Syafi
With MBT / EFX it is possible to get 500 pip stop loss for even 1% of account..with $500 account. it gives so much room for 60 pip SL

use 0.05 lot i.e trade GBP/JPY or whatever currency you like ......
for 60 pip SL
can we trade 0.05 lots on MBT/EFX, i am not able to do less then 0.1
  • #33,146
  • Sep 27, 2007 2:46am Sep 27, 2007 2:46am
Quoting auslanco
If you trade Eur/Usd, to make that 10pips where do you place your SL?
Aus, i will PM you the 1 min scalping technique which i am developing, see how feasible it is, it has only 15 pip stop loss , let me know ur views, will go to office and send it to u with chart setup and indicators i use, can u pls give me ur opinion on it
  • #33,147
  • Sep 27, 2007 2:47am Sep 27, 2007 2:47am
Aus bro, do you have any open trade as yet?
  • #33,148
  • Sep 27, 2007 2:47am Sep 27, 2007 2:47am
scale out one lot + 20 stop just above the recent high for the last lot good nite
  • #33,149
  • Sep 27, 2007 2:49am Sep 27, 2007 2:49am
Imransait,

I took the liberty of modifying your spreadsheet to add the following functionality:

added avg pip/day and max risk/trade fields.

Two new charts:

One that shows you how much you would need to profit per day to reach your goal.

and One that shows you how much a pip has to be worth in order to make your days profit in the # of pips specified in avg pip/day.

I love excel.

Woo-hoo.

koko

Quoting imransait
Guys, have a look, specially the Newbies ( me included ) the power of compounding, i am going to start a live a/c and open a thread there to start trading the G/jpy with only 500$ capital and note down all my trades with SL and TP and update it at end of Day.

Look at the excel sheet and a 3% on daily capital is enough to sustain , this is the power of forex if done in the right way..forex is not the way to get rick in quick time..

500$ will become 600K USD in one years time

P.S : The excel file is too big, i will try to zip it and attach
Attached File(s)
File Type: zip Compounding_Table v2.zip   304 KB | 550 downloads
Please don't hate me 'cause I'm noobiful.
  • #33,150
  • Sep 27, 2007 2:49am Sep 27, 2007 2:49am
Quoting gau2902
Aus bro, do you have any open trade as yet?

no.. Thats why I got enough time to talk shit: I will wait for a 1hr or 30min 5sma retracement to go long.
  • #33,151
  • Sep 27, 2007 2:51am Sep 27, 2007 2:51am
Quoting koko93s
Imransait,

I took the liberty of modifying your spreadsheet to add the following functionality:

added avg pip/day and max risk/trade fields.

Two new charts:

One that shows you how much you would need to profit per day to reach your goal.

and One that shows you how much a pip has to be worth in order to make your days profit in the # of pips specified in avg pip/day.

I love excel.

Woo-hoo.

koko
Great work, mate...its excellent, giving very deep insights
thanks for it and for sharing...love it
  • #33,152
  • Sep 27, 2007 2:51am Sep 27, 2007 2:51am
Quoting Syafi
With MBT / EFX it is possible to get 500 pip stop loss for even 1% of account..with $500 account. it gives so much room for 60 pip SL

use 0.05 lot (5cent/pip) or even 0.1 lot (10cent/pip) i.e trade GBP/JPY or whatever currency you like ......
Who knew you could trade sub mini lots on MBT/EFX!!
"Quitting while you are ahead is not the same as quitting".
  • #33,153
  • Sep 27, 2007 2:52am Sep 27, 2007 2:52am
Quoting Syafi
With MBT / EFX it is possible to get 500 pip stop loss for even 1% of account..with $500 account. it gives so much room for 60 pip SL

use 0.05 lot (5cent/pip) or even 0.1 lot (10cent/pip) i.e trade GBP/JPY or whatever currency you like ......
I use EFX also. Right now were running ~1-3 pip spreads on this beast.

Brings scaling in to a new level.
  • #33,154
  • Sep 27, 2007 2:52am Sep 27, 2007 2:52am
closing 2nd lot 233.67
  • #33,155
  • Sep 27, 2007 2:53am Sep 27, 2007 2:53am
Quoting auslanco
no.. Thats why I got enough time to talk shit: I will wait for a 1hr or 30min 5sma retracement to go long.
what will be your TP then?
  • #33,156
  • Sep 27, 2007 2:55am Sep 27, 2007 2:55am
Quoting Radarnett
Who knew you could trade sub mini lots on MBT/EFX!!

The best kept secret.... MBT/EFX

they're called micro's
  • #33,157
  • Sep 27, 2007 2:56am Sep 27, 2007 2:56am
Quoting gau2902
what will be your TP then?
234.89 wil be my target.. All my smaller TF ahve turned bearish.. I will wait until the news release to enter.
  • #33,158
  • Sep 27, 2007 2:56am Sep 27, 2007 2:56am
The next best kept secret..... where is this going from here?
  • #33,159
  • Sep 27, 2007 2:56am Sep 27, 2007 2:56am
Quoting Radarnett
Who knew you could trade sub mini lots on MBT/EFX!!
wow...i just tried and it worked...lol..this is good
  • #33,160
  • Sep 27, 2007 2:57am Sep 27, 2007 2:57am
FYI 4h candle is about to close below 200ema (4 mins to go)
Trade what you see, not what you think.
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