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Simplicity is the Key

  • #1,281
  • Mar 28, 2007 11:33am Mar 28, 2007 11:33am
Quoting PipsLover
I dont get why you reenter again when you are stopped out. If you are thinking of reentering when you are stopped out, then you should have just set your S/L further. Isn't that the way?
firstly, sorry for my English again...
reenter after SL in direction of stopped trade after retrace... I've tried this and not every time it is a wrong decision. In specific case it is not a problem reentering but SL and TP level.

Regards

PS
long @1.9628 and @1.3338
  • #1,282
  • Mar 28, 2007 11:48am Mar 28, 2007 11:48am
Quoting trader101
the Feds should really stop interfering, everybody knows the USD position right now, everyone living in the US, this phoney exchange rate, why can they just be real.. I dont know how long they can keep this underwraps. Just venting my frustrations here...
could'nt have said it beter myself......this country is losing it mind.
Same Whore .... Different Dress
  • #1,283
  • Mar 28, 2007 1:35pm Mar 28, 2007 1:35pm
My EUR/USD stoped out.
  • #1,284
  • Mar 28, 2007 1:53pm Mar 28, 2007 1:53pm
GBP/USD stopped out 1.9208... Would it be unwise to get in at 1.9175-80? Seems like investors irrationally sell off after not-so-good Fed news, but then clamor to get back in within a day or two.. thoughts?
  • #1,285
  • Mar 28, 2007 2:10pm Mar 28, 2007 2:10pm
Quoting El Nacho
GBP/USD stopped out 1.9208... Would it be unwise to get in at 1.9175-80? Seems like investors irrationally sell off after not-so-good Fed news, but then clamor to get back in within a day or two.. thoughts?
Good thoughts, It is always wise to know where the majority are, investor like you and and I have the same trend of thoughts. If there is sell-off make sure you are the beneficiary of that.
  • #1,286
  • Mar 28, 2007 2:16pm Mar 28, 2007 2:16pm
In SUMMARY FOR THE WEEK:

Trade Signal No. 1 --- Completed with a Gain of +12 pips
Trade Signal No. 2 --- Completed with a Gain of +60 pips
Trade Signal No. 3 --- Completed with a Loss of -25 pips
Trade Signal No. 4 --- Completed with a Loss of -35 pips
Trade Signal No. 5 --- Completed with a Loss of -25 pips

--------------------------------------------------------
Total profit for the week -------- -13

We are in the negative territory right now.. We have to be very extra careful now, because we might fall to the emotions of trying a revenge trade to get it to the positive territory. We must do what we normally do and let the system tells us to do. Its only Wednesday, good opportunity will still come...
  • #1,287
  • Mar 28, 2007 2:26pm Mar 28, 2007 2:26pm
I am changing my trade money management starting with the next trade that i will be making. The system of entry, signals and indicators and all other technical analysis will not be revised, only the money management.
New trade money management:
1) for trade with the estimated TP 0f 60, i would be entering with 6 lots, and start taking TP at every 10 pips profits, however if upon reaching the 10th pips gain and upon discretion on the accumulation of pip, i could postpone the TP 1 for a more higher pip gain and so on. But on normal situation TP at every 10th pip gain. If the trade is completed that will be total of 210 pips.
Before, i used to enter 6 lots or 12 lots per trade very static. Also I notice that those 3 losses that we have, we are always up in the beginning but unable to TP because i am following the old system that TP only at the end. This New TP procedure will be 150 pips less for a completed trade of 6 lots.
2) for trade with an estimated of TP of 50 pips, the same procedure but only traded in 5 lots. and so on.
I will welcome your comments on this procedure for those who have tried this. thanks
  • #1,288
  • Mar 28, 2007 2:33pm Mar 28, 2007 2:33pm
Some of you who like to trade the UCAD(Market Price) - Long . You can do it now. I am being prevented by Yahoo to send bulk mails for the day, that is my problem.
  • #1,289
  • Mar 28, 2007 2:33pm Mar 28, 2007 2:33pm
Sounds to me like a great strategy... I mean, in the old system if the positions were +55, you would not take profit and risk losing on all 6 lots if they went back down and hit Stop... This way, you hedge your losses by taking profits early. You always pay a price for a hedge.
  • #1,290
  • Mar 28, 2007 2:38pm Mar 28, 2007 2:38pm
is SL:25 and TP: 60?
Quoting trader101
Some of you who like to trade the UCAD(Market Price) - Long . You can do it now. I am being prevented by Yahoo to send bulk mails for the day, that is my problem.
  • #1,291
  • Mar 28, 2007 2:42pm Mar 28, 2007 2:42pm
Quoting Jayson
is SL:25 and TP: 60?
SL 20--- TP 50(or your discretion)
  • #1,292
  • Mar 28, 2007 2:45pm Mar 28, 2007 2:45pm
For those that are new in trading UCAD, UCAD is very very slow pair, but with enough fuel you will be surprise with its speed, in short very erratic moving pair, so watch out for every turn it make.
  • #1,293
  • Mar 28, 2007 2:49pm Mar 28, 2007 2:49pm
thanks for the info.
Quoting trader101
For those that are new in trading UCAD, UCAD is very very slow pair, but with enough fuel you will be surprise with its speed, in short very erratic moving pair, so watch out for every turn it make.
  • #1,294
  • Mar 28, 2007 2:50pm Mar 28, 2007 2:50pm
Quoting El Nacho
What about making a SL at -30 and utilizing the same strategy on the way down to minimize losses???

6 lots: Stop out 1 lot at each increment of -5... Max loss=-5-10-15-20-25-30= -105 pips instead of -180

Of course, this is the worst case scenario... it could happen that you stop out 3 positions, then the trend reverses and you only have 3 positions taking profit, which otherwise would have been 6 (hmmm, the +/- of hedging).

Is -5 too small of a negative trend to count?
I appreciate your opinion, but i think it would be wise to PM me, please do not inject your personal strategy on this thread, if you want to trade it that way go ahead but do not influence others. The money management i just wrote is for my own trading style so does everybody.
Thank you
  • #1,295
  • Mar 28, 2007 3:05pm Mar 28, 2007 3:05pm
OK.. This is not my strategy, however. I just wanted some input from you or others regarding this strategy...maybe some +/- of it that I may be missing.
  • #1,296
  • Mar 28, 2007 3:32pm Mar 28, 2007 3:32pm
Quoting trader101
I appreciate your opinion, but i think it would be wise to PM me, please do not inject your personal strategy on this thread, if you want to trade it that way go ahead but do not influence others. The money management i just wrote is for my own trading style so does everybody.
Thank you
I know that I'm irritating most of people here (that is not my purpose btw). For USDCAD I will go long at 1.1602 (bid price) (above open of the two 4hr candles before)

small revised, @1.1609(bid) just above high
  • #1,297
  • Mar 28, 2007 3:55pm Mar 28, 2007 3:55pm
I know that most you come to this thread to trade and make money and not to annoy other people, however, those who come in just recently to this thread failed to read the pages of this thread, how we do things around. I really think that you have to spend a little time reading what is inside this thread, if you tell me its to long, well you need it for people to become comfortable with you and to you to be comfortable with people. There is one guy who PM me today, he is from Portugal, He mentioned to me that he is now on page 80 just to realize that he need to give his name in order to be included in the mailing list. I admire this guy, and i feel comfortable already with him even though he is not from my hometown New York and i feel obligated to please him already..if you know what i mean.
Thanks and regards.
Trader101
  • #1,298
  • Mar 28, 2007 3:58pm Mar 28, 2007 3:58pm
Just printed all 300+ pages

Nothing like the printers @ work to do the job!
  • #1,299
  • Mar 28, 2007 4:05pm Mar 28, 2007 4:05pm
I just know recently that Yahoo just allow me to send bulk e-mail once in a day, i think. This is my problem right now, if we have multiple signals coming at different times then i could not send to you the others. Anybody who have experience enough tell me how we can overcome this problem???
Thanks
  • #1,300
  • Mar 28, 2007 4:10pm Mar 28, 2007 4:10pm
You might could sign up for a hotmail or gmail account. I don't think they have limitations on bulk email. Both are free as well. It might mean extra work on your part importing over the list of email addresses though which would probably suck.
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