:|Entry=Risk Exit=Reward|:

OP dead?

he is still online in this forum, perhaps he forgot about this thread already.

Well I can't keep checking. Obviously he won't post here now, it has been too long. It is a shame, because I heard from T2Win that he was actually good.

Simpletrader, check your home page I sent you a message. Stuff will be up this week probably.

Had internet outage from Tuesday night this afternoon which sucked. Got to go to the gym, general spring cleaning then I'll try and post some stuff up. Work is piling up. Sigh.

- bump -

Reserved for "Can anyone code an EA for this"

Reserved Reserved

Reserved Reserved Reserved Reserved Reserved

Reserved for "What are the backtest results like?"

Reserved thread is full of reservations.

Hoping, we dont Churn out a 1000page thread
&
Starter says he is off mood now

Reserving a ViP Seat in The "RISK REWARD theatre"

I reserve this post to stop someone else posting yet another 'reserve' post.

I think it was the OP's stylish presentation and images that made people so intrigued.

Unfortunately for OP as far as I am aware you can't edit any of your own posts in your thread apart from the first one, I could be wrong though. I hope reservations 2-9 or whatever arent in vain .

i think he is waiting for moderator to
change the image limit to 25-30.

http://www.trade2win.com/boards/trad...it-reward.html


Phil

I hope you are OK?

best to all
Paul

He's fine.

Hey man, Yes I'm good. I've still just been very busy; redecorating, trading, cutting arces of grass, etc etc.

In the mean time until I post what I have written, I'll post some highly probable setups when I see them. Now when I say highly probable, I mean setups which occur because they are so rare. Last week I was fortunate to get two of them.

Cable tanking on monday and picking the exact reversal point to the pip and EurJpy consolidating for 8 hours in a tight 50 pips range > to then breakout for 100-110 pips from the box.

The start of the thread was to give a bit of reference to my trading style and then I was going to post setups and sunday analysis. So I mayaswell start with some of the setups during the week (if they occur).

Hope you are all well and I'm very glad there are people with such a keen interest in trading.

Phil.

PS: Very annoying, I thought I could edit any post I wanted!

Cable
Long 16391/84
SL: 16375/69
TP1: 16400 hit
TP2: 16425 hit
TP3: 16456 hit

------------------------------------------------

Review Statistics:

Pips offside on entry/Downdraw: 1
Targets Hit: 3/3 [4:1]
Maximum Amount of pips from the move: 76
Maximum Amount of pips in target(s): 67
Amount of Move Taken: 88%
Amount of pips covered by trailing on thrust candles*: 34

Comments:
I took profit at 2:1 after the initial rebound from this level was far to fast to sustain a significant move higher. Then I used half a position when price retested this level and all take profits were covered. The fact that this level held twice was no surprise after a day of sterling weakness, profits had to be taken.

After the trade had taken place and committed the second time, a breakout through 16391 was probable [to continue the trend], as such a level breaking would show sterling weakness. I'll teach you the london breakout once I have this thread sorted.

*This is a conservative approach to trading which can help to stay in good moves/trends for longer but also stop yourself from taking profits too late.

Phil,

1. Why did you enter long, against the trend? Correct me if I'm wrong, but isn't that a violation of your own strategy? EDIT: The trend appears to be down, at least on the chart you posted. I haven't checked more history than that.
2. How did you manage to enter at the absolute bottom? Where you just lucky?

Regards,
beam