hi , sorry i need to ask this stupid question again, but just to double check, if i m using the ibfx platform, what should be the time frame for the breakout? thanks
The Cable double day / the two day "rule" 14 replies
A Day Traders Day? 7 replies
The best way to trade is one trade a day 76 replies
Day by Day 9 replies
DislikedI'm fairly new to forex and over the past few days I have read every post on this thread (including all the time differnce posts!) and I would like to say thanks to everyone (especially Paulus) for what seems to be a great system.
I have only been demo trading this for the past couple of days and has worked great for GBPJPY. I have also been looking at what can possible done to minimise the potential large losses on some (few) days. Going back through the GBPJPY over the last month, I think I have a fairly simple solution (would like someone...Ignored
DislikedJust trying to figure out what is the exact asian box size?What time do you start Asian session (GMT?) and what time do you make buy or sell (GMT?) orders?I am trying to trade manually without any EA and just got a little confused on that box size.Can somebody help me out?Ignored
DislikedJust trying to figure out what is the exact asian box size?What time do you start Asian session (GMT?) and what time do you make buy or sell (GMT?) orders?I am trying to trade manually without any EA and just got a little confused on that box size.Can somebody help me out?Ignored
Dislikedactually i think u can dl paulus template on the 1st post and 8 boxes should be the timeIgnored
Dislikedhi all, wish to ask, since i am new here; the following are the trades I took, maybe someone can tell me if they are correct, as in roughly the values. thanks
GU Short
Entry: 1.6234
TP: 1.6169
SL: high of the asian session (1.6344)
R:R is less than 1?
GJ Short
Entry: 150.25 (though I entered wrongly at 150.22)
TP: 149.10
SL: high of the asian session (152.15)
do u guys shift ur SL soon?Ignored
DislikedMy trading software does not allow any custom indicators,Ea's and etc. But i like it for simplesity.Thats way I try to test strategies and systems manually imputing stuff,and thats way i asked for Asian session box range.Thanks for fast help guys!Ignored
DislikedHi yuan,
yes get the same (or near enough) levels for the GU. But not the GJ. I would also note that most people have been taking 50% profits at the 1.618 fib level.Ignored
Dislikedhi thanks for e fast reply. care to tell me what is ur tp and sl for both? anyway you have any idea about the entry, should it be 10+spread for long or 10- spread?
and anyway this strategy does not have a 1:1 R:R right? for example this GJ trade my risk is 188 pips, tp is 100 pips. if i risk 2% of my account, i only gain a 1+%.. hmmIgnored
DislikedYeah the R:R is always less than 1:1 for each individual trade. But this system for GU and GJ seems to have a considerably larger number of good days than bad.
Anyway, the GJ levels I had for today were: 152.160 to 150.435 (range) entry point was 150.290, SL was set initially to 152.305 and then moved to 150.290 after price reached the 1.618 fib point and closed 50% of the position.Ignored
Dislikedhmmm, what's the tp for the other 50%? I realised i did draw wrongly for the TP , my redraw put it to 158.55Ignored