Pro Swing Trading

Good job bro

I take first TP when I cannot watch the price action and I do not scale out in profit.

Nicks' historical results in 2010 (till june) show:
1) you would have made 3350 pips with tp2 trades (tp1 trades=0)
2) you would have made 2450 pips when closing at tp1
Scaling is not considered.

But the probability of tp1 is higher than tp2. Therefore the compounding with tp1 only would have compensated the lower pip amount a bit. The result in account balance would have been almost the same.

So the question is not whether to take tp1 or tp2 but to take the right decision when price reaches tp1. Then you make the most pips.

On the other hand it can be dangerous just to take the trades till tp1, because when the hit ratio decreases, the profit has to be compensatet by the higher pip amount of tp2. tricky!

thats my reasearch

the most important: you can learn a lot of Nicks' trades.

@Nick
keep piping

Hi merchat,

Thank you for sharing your research with us!

Does the pip count for 2010 include losses?

yes, please post when you' ve got different results.
nobody is perfect

cheers

Will be signing up today. Thanks!

the results are historical. they are shown on his page.

The euro fell against the yen and dollar in Asia Thursday as short-term investors trimmed holdings of the risk-sensitive common currency due to weaker equities and renewed concerns over European debt woes.

Dealers said the common currency may remain under pressure in coming sessions. Many investors are concerned that Spain's planned sale of EUR3.5 billion worth of government bonds later in the global day may go badly, fueling speculation that another euro-member bailout may be necessary.

Looking for short on U/CAD

I've exited at 1.0285 for some nice pip profits! Thank you very much.

I managed to enter the trade even its a bit late, at 1.0320 but set TP1 target at 30 pips (Late enter, then less TP target). Already bank in 30 pips, 2nd lot now let it run with stress free. This pair was very volatile when u made the call, but afterall, it's really a great call! =)

Thanks again Nick..

awesome! as always nick

did not take the loonie as well Nick. But its nice to see that you are honest and just do not count pips...

that makes the historical results even more reliable

European stocks rose Friday, taking their cue from a positive close on Wall Street, as investors continued to take heart from Thursday's successful Spanish bond auctions.

Banks were the best performers, following news Thursday that European Union leaders will release stress tests for Europe's 25 largest banks in July. "We welcome new stress tests and potential bank recaps--as we've argued before--as one tool in the policy mix to rebuild confidence," said Morgan Stanley.

Spanish banks posted the biggest gains, with Banco Bilbao Vizcaya Argentaria up 3.7% and Banco Santander up 3.0%. Elsewhere, Societe Generale rose 2.7%, while Credit Agricole added 2.3%.

Auto stocks were also on the front foot, led higher by Porsche, which rose 1.4% after the company said it expects a smaller loss in the 2010 fiscal year than previously expected. It also said its merger with Volkswagen is on track. Daimler added 1.4%, while the pan-European Stoxx 600 index for the sector rose 1.0%.

Hi
Great as usual.
Regards Peyman

Hi,

I hope you had great weekend, and be ready for new pips hunting


FXAdvice

I'm ready to embark on yet another adventure this week! Can't wait to see where this week's trading takes us!

Hi,
If you looking for trading idea, E/J has short setup

hit first target, don't forget to manage it for second target