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Trading Live With Simplicity!!!

  • #81
  • Edited 7:07am Apr 4, 2009 6:56am | Edited 7:07am
Quoting jonk859
Hey Pip,

Love your strategy, but take a loss for gods sake.. jeez not even one loss after one month and i took a 1000 in my first week
Haha
Dont You want to see Pip Making live Pip's?
I hate to lose Trades.
I have posted my live trades here in my journal with pending order's and screenshot's. You can join in. But i also got losing trade's. Which maybe worest for you because my stoploss is -120 Pip's & Target Profit is +70 Pip's on volatile pair's.
Still lucky with no losing trade last month & still in this month.
Pip!
  • #82
  • Apr 6, 2009 8:48am Apr 6, 2009 8:48am
Quoting PipHacker
Hi Guy's,
Here is my another Gbd/Chf trade. Its a daily chart and seems it will be a good trade if Resistance Line 1.6834 break's. So here is my pending Order!

I,ll Go Long OnThe Break Of 1.6834

Target +50 To +70 Pip's Depending On Volatility!
Let's see and goodluck
TradeWell with Simplicity!
Pip!

Hey Guy's
I have posted my this Gbd/Chf live trade here two weeks back. but price was unable to reach this levela & didnt break it so i removed my this pending order. but today price break's this resistance line 1.6834 After 2-weeks and moved up for +50 Pip's almost so far but i didnt enter for long inthis trade.
Anyway's here is the screenshot of gbd/chf daily chart. Now There is no pending order's at the moment See you again.
Pip!
Attached Image (click to enlarge)
Click to Enlarge Name: gbdchf.gif Size: 39 KB
  • #83
  • Apr 6, 2009 10:28pm Apr 6, 2009 10:28pm
Hi PipHacker:

I have been following your trades for some time as this appears to me very easy to understand. I live in US PST zone and I have only screen time before Asian session. So, I really can not get those S/R area while sitting in front of computer. I generally put a limit order at the break of S/R and next morning they hit either profit or loss. I had been using a fixed 50 SL and 50 TP. So far, I am almost even with my loss and profit. I see that you win most of the time. I have some questions:
1) You don't post every day, does it mean that you don't (or get) trade every day
2) Do you also put mostly limit order with fixed SL (120) and TP (50 to 70) and don't manage your trade physically?
3) Is it correct that your assumption is always break out at S/R level and You don't consider bounce from S/R area (I see that from the most of your posting)?
4) If the above assumption is true, how is you win/loss ratio?

Thanks in advance for so many queries. I wish you could post more trades as it really helps us to understand.

-FX_California

Quoting PipHacker
Hey Guy's
I have posted my this Gbd/Chf live trade here two weeks back. but price was unable to reach this levela & didnt break it so i removed my this pending order. but today price break's this resistance line 1.6834 After 2-weeks and moved up for +50 Pip's almost so far but i didnt enter for long inthis trade.
Anyway's here is the screenshot of gbd/chf daily chart. Now There is no pending order's at the moment See you again.
Pip!
  • #84
  • Apr 7, 2009 10:46am Apr 7, 2009 10:46am
Quoting FX_California
Hi PipHacker:

I have been following your trades for some time as this appears to me very easy to understand. I live in US PST zone and I have only screen time before Asian session. So, I really can not get those S/R area while sitting in front of computer. I generally put a limit order at the break of S/R and next morning they hit either profit or loss. I had been using a fixed 50 SL and 50 TP. So far, I am almost even with my loss and profit. I see that you win most of the time. I have some questions:
1) You don't post every day, does it mean...

Here are the answers of your question's hope this help's!

1) You don't post every day, does it mean that you don't (or get) trade every day

Well it depend's as i keep an eye on my chart's daily & 4-Hour's also keep an eye on solid trade opportunities. Sometimes it happens i trade twice in a day and sometimes just twice in a week. I always preffer to enter in a solid opportunity.

2) Do you also put mostly limit order with fixed SL (120) and TP (50 to 70) and don't manage your trade physically?

No i always manage my trade physically. My SL Is -120 Pip's on Jpy Related Pair's & Target +50 to +70 Pip's depend's on volatility on moment but sometimes if i find reversal candles than i like to close my postion on less profit.

3) Is it correct that your assumption is always break out at S/R level and You don't consider bounce from S/R area (I see that from the most of your posting)?

Yes most of times i find myself lucky. 60 t--to-- 70% but still i preffer -120 Pip's SL on volatile pair's which rarely hit's.

4) If the above assumption is true, how is your win/loss ratio?

So far it's 100% from last month to till now. What next i dont know lol
But My Winning ratio is good than losing.

Thanks in advance for so many queries. I wish you could post more trades as it really helps us to understand.

Pip!
  • #85
  • Apr 7, 2009 11:15am Apr 7, 2009 11:15am
newbie here:
do you ever trade gbp/usd pair?
thanks
  • #86
  • Apr 7, 2009 11:26am Apr 7, 2009 11:26am
Quoting pipchaser1
newbie here:
do you ever trade gbp/usd pair?
thanks
yeah i love to trade this pair
http://www.forexfactory.com/showthre...=155627&page=5
in this page of my thread i posted my live Gbd/Usd trade with result's
Pip!
  • #87
  • Apr 7, 2009 6:04pm Apr 7, 2009 6:04pm
hello~!

impressed with your track record! and just some quick qns here...

you have TP set at around 70/50/20 pips most of the times on breakouts from swing points on daily charts... is it because of the observations that most of the times such breakouts are shortlived and prone to reversals?

if that is true, are there any value in fading your system?

have you ever considered holding on to your trades for longer and trailing them? will that reduce win rate and incur more losses or flat trades?

thanks and good trading~!!!

spicy
  • #88
  • Apr 8, 2009 1:46am Apr 8, 2009 1:46am
Hi Guy's
Welcome again
here is the gbd/jpy analysis. I have placed My S/R Lines onthis pair. Well here is my live pending order
i am looking forward to go short onthe break of 145.80

well it seems little risky trade to me lol
coz the candle on which i have placed my support line didnt retraces back much for strong bullish move but still i am otimistic about this trade hope so it will bank me good Pip's maybe my stoploss will be tight coz i consider this a risky trade for me.
Targeting +50 to +70 Pip's let's see
GoodLuck and tradewell with simplicity!
Pip!
Attached Image (click to enlarge)
Click to Enlarge Name: gjpy.gif Size: 35 KB
  • #89
  • Apr 9, 2009 2:58pm Apr 9, 2009 2:58pm
Quoting PipHacker
Hi Guy's
Welcome again
here is the gbd/jpy analysis. I have placed My S/R Lines onthis pair. Well here is my live pending order
i am looking forward to go short onthe break of 145.80

well it seems little risky trade to me lol
coz the candle on which i have placed my support line didnt retraces back much for strong bullish move but still i am otimistic about this trade hope so it will bank me good Pip's maybe my stoploss will be tight coz i consider this a risky trade for me.
Targeting +50 to +70 Pip's...


Hey guy's i was bit busy so was unable to post results here. Well yesterday i have posted my live gbd/jpy trade. i also said it seems to me a risky trade coz the candle on which i placed my support line didnt retraces back for strong bullish move so i also said my stoploss will be tight. Anyway's it was a losing trade. After break of 145.80 price retraces back but again came back and showed the strange sideways movement & still sideways. Anyway's it was a risky trade from myside & a failed test also coz i said this before posting my this live trade. This was a first losing trade from last month. Last month was 100% with no losing trade with +675 Pips and this month so far i have posted 3-live trades as 2-winners and one loser with
+50 Usd/Jpy
+55 Gbd/Chf
-50 Gbd/Jpy Pip's so far.
I,ll Post more live trades later
Pip!
Attached Image (click to enlarge)
Click to Enlarge Name: gjpy.gif Size: 36 KB
  • #90
  • Apr 11, 2009 12:47pm Apr 11, 2009 12:47pm
Hi There Guy's
Here is the daily chart of Usd/Cad. I Have placed my S/R Line's on it which are looking good. Anyway's here are my live pending order's!

I,ll go short onthe break of 1.2190

Target +20 to +50 Pip's
Pip!
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 39 KB
  • #91
  • Apr 11, 2009 1:06pm Apr 11, 2009 1:06pm
Quoting spicymonkey
hello~!

impressed with your track record! and just some quick qns here...

you have TP set at around 70/50/20 pips most of the times on breakouts from swing points on daily charts... is it because of the observations that most of the times such breakouts are shortlived and prone to reversals?

if that is true, are there any value in fading your system?

have you ever considered holding on to your trades for longer and trailing them? will that reduce win rate and incur more losses or flat trades?

thanks and good trading~!!!

spicy
Hey Spicy!
My target is +70 Pips on Gpy related pair's and most of time they successfully achieved. But +20 to +50 On non volatile pair's(Others)
and if i feel any volatility in price then i let my profit runs to achieve +50 Pip's target other wise close my postion with in +20 to +50 Pip's.
& also when ever my pending order enters in a market i always love to trade live in front of my Laptop im also working more on my strategy and want to increase my traget profit on jpy related pair's. But so far +70 Pip's target profit successfully achieve most of times.
Pip!
  • #92
  • Apr 11, 2009 10:10pm Apr 11, 2009 10:10pm
Hi PipHacker,
I'm very impressed with your method's superb strike rate and simplicity.
I'm wondering how exactly you determine the TP on the less volatile pairs. For instance, you have posted both 20 pip and 50 pip wins on USD/CAD. Could you tell me what metrics you apply in making your TP decision?
Also could tell me a little more about your trade management?
Using the USD/CAD example, did you start out with a 50 pip TP then scale back to 20. Or did you start with a 20 and ease it out to 50? or neither?
I'm looking at the coming week and can see many potential set-ups.
Assuming you don't try to take every set-up, how do you determine which ones are you best prospects?
Also, do you include EUR/JPY as a 70 TP pair ?
Thanks very much for your time and expertise.
  • #93
  • Apr 14, 2009 10:08am Apr 14, 2009 10:08am
Quoting PipHacker
Hi There Guy's
Here is the daily chart of Usd/Cad. I Have placed my S/R Line's on it which are looking good. Anyway's here are my live pending order's!

I,ll go short onthe break of 1.2190

Target +20 to +50 Pip's
Pip!
Hey Guy's.
Welcome back. Here are the result of my another successive live trade which i have posted here. As i successfully locked +50 Pip's. It was a carry trade though i hardely carry trades but i was very much sure about my victory lol
see the screenshot.
Pip!
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad2.gif Size: 40 KB
  • #94
  • Apr 14, 2009 11:46am Apr 14, 2009 11:46am
Quoting Pip Rage
Hi PipHacker,
I'm very impressed with your method's superb strike rate and simplicity.
I'm wondering how exactly you determine the TP on the less volatile pairs. For instance, you have posted both 20 pip and 50 pip wins on USD/CAD. Could you tell me what metrics you apply in making your TP decision?
Also could tell me a little more about your trade management?
Using the USD/CAD example, did you start out with a 50 pip TP then scale back to 20. Or did you start with a 20 and ease it out to 50? or neither?
I'm looking at the coming week and can see...
Hello Pip-Rage,
now i have enough experience to judge this thing lol
well if im trading on 4-hour chart than i keep an eye on daily charts to see whats happening there & if daily than keep an eye on weekly.
i deeply keep an eye on reversal candles. if i find any reversal candle than i close my position most of times. This is all about the metrics which i apply on my tp decision.
& about my trade managment well i start out with +50 Pip's target but as i said if i find any reversal candle on in daily than reduce my tp most of times. Because there is no profit taking indicator yet lol so i foucs on price action and reversal candles.
& yes its true i dont enters in all opportunities. You might have observed that so far im 90% winner(for more read my journal) i just have one losing trade.
focus on U-Shape and V-shape candles formation for a valid breakout. i trade only on that breakouts in which candles made these formations.
Yes +70 Pip's also on EJ.
Hope this all help's
Pip!
  • #95
  • Apr 15, 2009 6:20am Apr 15, 2009 6:20am
Hey guy's,
This is the 4-hour chart of Gbd/Jpy.
Well i have today again placed my S/R Lines on it. Here is My live Pending Order!
I am looking forward to go long onthe break of 149.24
Target +50 to +70 Pip's
Goodluck and tradewell with simplicity!
Pip!
Attached Image (click to enlarge)
Click to Enlarge Name: gjj.gif Size: 34 KB
  • #96
  • Apr 15, 2009 6:26am Apr 15, 2009 6:26am
There is also seems a good chance to go long on Nzd/Usd but i,ll post it's analysis later only if made any plan to go long on this pair let's see.
Pip!
  • #97
  • Apr 15, 2009 10:36am Apr 15, 2009 10:36am
Hi piphacker what a nice technique you have, thanks for sharing. Keep on posting. I'll try your technique and follow this thread
one question, did you enter by following price action on the first candle soon after you see it was broke out or enter at the next candle?
  • #98
  • Apr 15, 2009 1:02pm Apr 15, 2009 1:02pm
Quoting gun2_85
Hi piphacker what a nice technique you have, thanks for sharing. Keep on posting. I'll try your technique and follow this thread
one question, did you enter by following price action on the first candle soon after you see it was broke out or enter at the next candle?
Thanks for your positive feedback
well i enters in a same candle which breaks the line. My entry is always excat after the break.
Pip!
  • #99
  • Apr 15, 2009 8:31pm Apr 15, 2009 8:31pm
i trade with your strategy on gbp/jpy today with tp 50 pips, and the price break the resistance not so long ago. Result i got +50 pips, yay... once again thanks for this simple strategy
  • #100
  • Apr 16, 2009 1:15am Apr 16, 2009 1:15am
I can't get over how amazingly effective this method is.
I got 70 from EJ and 70 from GC on Tuesday. It doesn't seem to need any management at all. The system logic is quite contrarian. From the outside, it looks plain crazy(fading S/R i.e buying at resistance and selling at support) but it keeps working again and again.
Take a bow, PipHacker!
Thanks for sharing
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