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1 pip per day (at least)

  • #41
  • Dec 3, 2009 2:13am Dec 3, 2009 2:13am
Following the highs of the 5m candles the way down. Current stop buy at 1.51166.
  • #42
  • Dec 3, 2009 2:25am Dec 3, 2009 2:25am
Long EU @1.51146
  • #43
  • Dec 3, 2009 2:28am Dec 3, 2009 2:28am
Closed at 1.51159

Statistics:
Spread: 0.9 pips
Max DD: -1.1 pips
Result: +1.3 pips
  • #44
  • Dec 3, 2009 2:43am Dec 3, 2009 2:43am
Quoting Xaron
So maybe a few words about my setup:

I use a 5m chart for this kind of trading and use Phil's 5m system as a base.

Look at this chart:

http://www.xaron.net/dl/fx/2009/scalp/eurusd_301109.png

So I just use stop orders (a stop sell in that case) to get in and just close the trade as soon as I got my 1 pip (or more). For that I wait for a pull back into the 2 MA's (10 and 21 EMA) and start to set stop orders below the low of the last candle. Nothing magic here.
Is there any real need for all that? To get one pip a day, just trade with the candle color
  • #45
  • Dec 4, 2009 2:16am Dec 4, 2009 2:16am
Long EU @1.50822
  • #46
  • Dec 4, 2009 2:16am Dec 4, 2009 2:16am
Closed at 1.50833

Statistics:
Spread: 0.9 pips
Max DD: -1.2 pips
Result: +1.1 pips
  • #47
  • Dec 4, 2009 8:46am Dec 4, 2009 8:46am
Haha, cool journal and good luck forward
Measure twice, cut once
  • #48
  • Dec 7, 2009 2:15am Dec 7, 2009 2:15am
Long at 1.48517
Closed at 1.48546

Statistics:
Spread: 1.2 pips
Max DD: -1.6 pips
Result: +2.9 pips
  • #49
  • Dec 14, 2009 12:15pm Dec 14, 2009 12:15pm
Hi Xaron...........What about the latest update of this account?????????Not a bad idea..........

rEGARDS
  • #50
  • Dec 15, 2009 1:30am Dec 15, 2009 1:30am
It was just too boring. Will relaunch this next year I guess but with an Euro account and full leverage.
  • #51
  • Dec 15, 2009 12:17pm Dec 15, 2009 12:17pm
Quoting Xaron
It was just too boring. Will relaunch this next year I guess but with an Euro account and full leverage.
Hi Xaron,

Thanks for sharing your strategy, BUT:

A winning strategy is never boring to me!

Good trading!
BC
  • #52
  • Dec 15, 2009 12:44pm Dec 15, 2009 12:44pm
Quote
It was just too boring. http://cdn.forexfactory.com/images/s...im/winking.gif Will relaunch this next year I guess but with an Euro account and full leverage.

I agree.
  • #53
  • Dec 15, 2009 12:46pm Dec 15, 2009 12:46pm
i followed Xaron on this and it was good for a few days, however i realised that the effort and screen time required to make 1 pip is the same as that required to make 100 pips.. so you might as well make 100!

Quoting kingfisher
I agree.
  • #54
  • Dec 15, 2009 12:56pm Dec 15, 2009 12:56pm
Quote
i followed Xaron on this and it was good for a few days, however i realised that the effort and screen time required to make 1 pip is the same as that required to make 100 pips.. so you might as well make 100!

Yes..right. i also tried 1-5 pips method 2 months back later to find that positions which i am closing for 1-5 pips are running for 50 + pips.
  • #55
  • Dec 16, 2009 12:02am Dec 16, 2009 12:02am
Quoting kingfisher
Yes..right. i also tried 1-5 pips method 2 months back later to find that positions which i am closing for 1-5 pips are running for 50 + pips.
who cares? the number of pips is irrelevant, 5 pips can easily be worth the same as 50 but much faster allowing you to compound your position size and trade again for much more profit than the 50 pip trade. Works for me anyway
BTC Return This Year: na
  • #56
  • Dec 31, 2009 2:05am Dec 31, 2009 2:05am
Quoting M.A.C.Doug
who cares? the number of pips is irrelevant, 5 pips can easily be worth the same as 50 but much faster allowing you to compound your position size and trade again for much more profit than the 50 pip trade. Works for me anyway
That is true on both sides of the fence and you cant escape that reality. If you are looking for strong gains on just 5 pips then you must be willing to have just as strong losses on 5 pips along with the spread costs that just make it that little bit more demanding.
  • #57
  • Mar 8, 2010 6:54am Mar 8, 2010 6:54am
Oh hi!
Any progress for 2010?
Searching for a cure...:nerd:
  • #58
  • Mar 10, 2010 1:35am Mar 10, 2010 1:35am
Sometimes I think I do too many different things. Well, I might try it again, it was fun. Will start with a tiny account again.
  • #59
  • Mar 10, 2010 1:45am Mar 10, 2010 1:45am
Ok, I start with an 500 AUD account. Let's see how it works. I'll try to scalp a pip here and there in a 5m chart.
  • #60
  • Mar 10, 2010 2:06am Mar 10, 2010 2:06am
do you use EA to do this or manually click? its really boring im trying it after 3 trades and 3 pips i got bored.

lol
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