DislikedIt looks like short. (Bobblong, even the price grid turned to 10 pips interval)Ignored

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DislikedIt looks like short. (Bobblong, even the price grid turned to 10 pips interval)Ignored
DislikedI use around 3 pips when scalping the EURJPY for a couple of reasons.
First 3 pips is half of my target of 6 pips profit. This means I can have 2 losses for every win and still not be losing any money (not counting commisions). This works for me because I am running at approximate 90 - 95 % profitable scalps. This does not mean that I always exit at 6 pips profit, sometimes I hold longer based on what is happening in the market. But when I hit 6 pips profit I start looking for reasons to exit.
The second reason I use three pips is because I look for high probablility scalp trades. If price moves against by three pips I did not pick the entry properly. I get out and look for the next opportunity.
I once read that in trading, the first third and last third of a price move were the hardest to get. I am content with the middle third.
This works for me. It may not work for you. If you like use it as your guide till you find something that fits you better.
Remeber it is alright to "leave pips on the table".
--MarkIgnored
DislikedI've read it many places before... Pro traders don't use stops... As their exit... Disaster Stops? Yes... They close their positions... The positions do not get closed for them...
I am using -18 pips as my disaster stops... Have -10 pips in my head if things go wrong... Usually out for no more than -6 pips if it goes wrong... Almost never -10 pips [so far...]...
I think there was a -14 pips the other day though... It can move pretty fast sometimes......
MagnusIgnored
DislikedHi LT,
If I am using tick charts do I change the setup by adding wma's or do I leave as is.
Thanks.Ignored
DislikedDo not spend too much time in chat rooms president... Focus on taking trades yourself... Jump in and out... More screen time... Practice... Chats and YouTube may be good for entertainment... Goal is to learn enter/exit and make money...Ignored
DislikedTip: I've had a lot more quality scalps when the price grid is in 10 pip intervals. It'll help prevent stupid/losing/low profitability trades. Just my way.
BobIgnored
DislikedTry both and watch both charts for a couple of days... Pick whichever chart that is pleasant to your eyes and brain... Whichever chart that talks to you...Ignored
DislikedMy recommendation is Screen Time on live account... Use the time you spend on chat, screen capture, over analyzing and drawing graph etc to Quality Screen Time and you will know which one to take, which one to ignore and where to enter/exit (less distraction to other users who tend to flock to see examples, chats, live demo from so called gurus etc)... You can always mark entry and exit after the fact, Gurus will flip and flop during the live sessions - that's why I did not give many examples in the e-book; but I clearly explained the rules and more than enough tips to get 90-95% successful hit rate - if you understand and follow it...
Everyday, you have many profitable entries... that's why 5 sec Cyrox Rainbow chart...Ignored
DislikedThis thread should be moved to the forex system area of the site since it is a system rather than the forex discussion area.Ignored
DislikedI have had trades that go against by 3 pips, I then look to price and decide if I let it ride or not, mostly I get out and look for another trade opportunity. If the trade goes against me by 3 pips and just kind of hangs out, I have let it run. It depends on past price action, general direction of market both 5 second and 30 second, how fast market is moving, did the trade move against me right away, did it turn into a loss very fast ... and many other thoughts flash through my mind.
--MarkIgnored
DislikedMy recommendation is Screen Time on live account... Use the time you spend on chat, screen capture, over analyzing and drawing graph etc to Quality Screen Time and you will know which one to take, which one to ignore and where to enter/exit (less distraction to other users who tend to flock to see examples, chats, live demo from so called gurus etc)... You can always mark entry and exit after the fact, Gurus will flip and flop during the live sessions - that's why I did not give many examples in the e-book; but I clearly explained the rules and more than enough tips to get 90-95% successful hit rate - if you understand and follow it...
Everyday, you have many profitable entries... that's why 5 sec Cyrox Rainbow chart...Ignored
DislikedThis thread should be moved to the forex system area of the site since it is a system rather than the forex discussion area.Ignored
DislikedI am starting to see how [at least, some of] my postings may be interferring with how you teach your method...Ignored
DislikedLT, You are more experienced than I... You should therefore know your method, and how to teach it, better than anyone... Your advice and teaching method is simple... And has been the same since the start of this thread... And on other forums you have posted in prior to FF...
I am starting to see how [at least, some of] my postings may be interferring with how you teach your method... Whatever benefit people say they may get from examples, I must respect the way you are teaching your method... I will refrain from postings that may disrupt, in any way, the continuity of your thread, method, or way of teaching it...
I also see your thread is getting a change of scenery...
MagnusIgnored
DislikedI do not know Guppy in detail but I suppose Bubble buy trades would be in first 2 cases, not the 3rd time.Ignored