Willem
Forex recipe for success = Patience, discipline & hard work.
- #4,162
- May 31, 2008 10:37am May 31, 2008 10:37am
- | Joined Feb 2007 | Status: Trader | 2,749 Posts
That's right, I'd only got my 30 pips with a risk of 60. I'm still glad if my first order reaches its target. If I already have a position open I don't add to it during following pullbacks.
And yes, my higher high / lower low trend confirmation is still valid.
So I try to use the high probability setups combined with my aggressive style of early entries.
Regards - Xaron
Tx,it makes sense and I feel more confortable now.
Willem
Forex recipe for success = Patience, discipline & hard work.
- #4,163
- May 31, 2008 10:48am May 31, 2008 10:48am
- | Joined Feb 2007 | Status: Trader | 2,749 Posts
Thank you Gofer, beside Phil, Thank You for your contributions, thanks a lot...
Phil's 4H MACD is good too? which one is better?
at least the easiest to follow for newbie like me, with low marfin
thank you..
Very difficult question - it will depend on you as individual and your style of trading.
I started with the 4h MACD system but I've struggle to grasped the concept. Shame, Phillip was so patient with me, I couldn't believe it. After a month or so I changed to the 5min because I think it is more my style of trading.
With the 5min system, I immediately felt comfortable even though I've struggled in the begining with which pullbacks to take. But now I do follow only 3 pairs and take only high probability setup. I do feel much better.
Now I am back on the 4h MACD after spending more than 1 year learning and 'gather' experience in the 5min system. Now Iunderstand the 4h system but I still struggle to get nice setups in the 4h system. Maybe it is because I cannot look at the charts very day at 00:00, 04:00, 08:00, 12:00, 16:00, 20:00GMT. It just doesn't work out for me.
But I do have to scan my chart every now and then (if I do have the time) to look for setups on the 5min system.
I cannot make a decision for you and give you any advice. Please go and have a look for yourself.
Sorry.
Willem
Forex recipe for success = Patience, discipline & hard work.
- #4,164
- Jun 1, 2008 3:54am Jun 1, 2008 3:54am
Nice to know everybody is trying their own methods - but keeping the core of the original system will give you the edge 
Just like the others, I've tweaked and created my own system that suits my liking. I use this strategy to pinpoint my entry and will hang on to the trade as long as swing LL and HH are not violated - This keeps me away from overtrading.
But for those new to the strategy, try to stick to the original method to get the hang of it.
Looking forward to a good trading week!
Just like the others, I've tweaked and created my own system that suits my liking. I use this strategy to pinpoint my entry and will hang on to the trade as long as swing LL and HH are not violated - This keeps me away from overtrading.
But for those new to the strategy, try to stick to the original method to get the hang of it.
Looking forward to a good trading week!
- #4,173
- Jun 2, 2008 2:48am Jun 2, 2008 2:48am
- Joined Apr 2007 | Status: Evil Kraut | 2,559 Posts
Another month, another great start. 
EUR/JPY
#1:
Short at 163.582
Closed at 163.269: +31.3 pips
http://www.xaron.net/dl/fx/2008/intr...jpy_020608.png
EUR/USD
#1:
1st Short at 1.55222
2nd Short at 1.55322
Closed at 1.55262: +1.0 pips
http://www.xaron.net/dl/fx/2008/intr...usd_020608.png
GBP/USD
#1:
Short at 1.97237
Closed at 1.96925: +31.2 pips
#2:
1st Short at 1.97018
2nd Short at 1.97118
Closed at 1.96718: +70.0 pips
http://www.xaron.net/dl/fx/2008/intr...usd_020608.png
Regards - Xaron
EUR/JPY
#1:
Short at 163.582
Closed at 163.269: +31.3 pips
http://www.xaron.net/dl/fx/2008/intr...jpy_020608.png
EUR/USD
#1:
1st Short at 1.55222
2nd Short at 1.55322
Closed at 1.55262: +1.0 pips
http://www.xaron.net/dl/fx/2008/intr...usd_020608.png
GBP/USD
#1:
Short at 1.97237
Closed at 1.96925: +31.2 pips
#2:
1st Short at 1.97018
2nd Short at 1.97118
Closed at 1.96718: +70.0 pips
http://www.xaron.net/dl/fx/2008/intr...usd_020608.png
Regards - Xaron
- #4,175
- Jun 2, 2008 2:57am Jun 2, 2008 2:57am
Another month, another great start.
EUR/JPY
#1:
Short at 163.582
Closed at 163.269: +31.3 pips
http://www.xaron.net/dl/fx/2008/intr...jpy_020608.png
EUR/USD
#1:
1st Short at 1.55222
2nd Short at 1.55322
Closed at 1.55262: +1.0 pips
http://www.xaron.net/dl/fx/2008/intr...usd_020608.png
GBP/USD
#1:
Short at 1.97237
Closed at 1.96925: +31.2 pips
#2:
1st Short at 1.97018
2nd Short at 1.97118
Closed at 1.96718: +70.0 pips
http://www.xaron.net/dl/fx/2008/intr...usd_020608.png
Regards - Xaron
- #4,176
- Jun 2, 2008 3:08am Jun 2, 2008 3:08am
- Joined Apr 2007 | Status: Evil Kraut | 2,559 Posts
Thanks. I'm very careful now. If I lose all 3 positions (-60 pips) I lose 1% of my balance. So today I'm up 2%.
Regards - Xaron
Regards - Xaron
