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Kraven's 5minPA

  • #61
  • Jul 1, 2010 5:58am Jul 1, 2010 5:58am
that's it for me approx +120pips today with the 5min system. and little sweating.
  • #62
  • Jul 1, 2010 6:49am Jul 1, 2010 6:49am
Hi Kraven,

If Momentum and all Signals are agree, you enter the trade in x,xx00 or you wait for 5 pips more (x,xx05) ?
Thanks
  • #63
  • Jul 1, 2010 8:02am Jul 1, 2010 8:02am
Quoting Caillou
Hi Kraven,

If Momentum and all Signals are agree, you enter the trade in x,xx00 or you wait for 5 pips more (x,xx05) ?
Thanks
Hard to answer, ideally i'd like to wait 5pips over as sometimes the price rebounds off these round numbers, however in the big world of FX 5 pips is tiny and is often pointless. I like to see how fast the price is moving, why it's moving the way it is e.g. has there been a new's release. if it's rocketing and all sig bars are with me and MOM is over 100 and going in the right direction I get in bang on if i can.

It's the SL that's important. If i enter a BUY at 500, my first SL will be 470. If we hit 525 my SL will be moved to 495. if we hit 550 SL will be 520 etc...basicaly approx 5 pips less then our previous TG. that way if I give the price a chance to rebound off these round numbers.

Beware...i use a spreadbetting firm and they have closed me out on a few occasions early. on Tuesday they closed me for a loss of 120pips (4lots at 30pips) when the price on all the charts i checked was 3-4 pips above this. 'slippage' or robbery. The bet rebounded and would have made 250pips plus. Now I enter a big automated first SL of 75pips (just incase of a super price shift or internet disconnection) and tend to watch and close manualy.
  • #64
  • Jul 1, 2010 8:04am Jul 1, 2010 8:04am
Ok, thanks
  • #65
  • Jul 1, 2010 8:09am Jul 1, 2010 8:09am
nice morning to all.

iīm still in e/u +200 by now.

i exited e/j at 108.70 +70.

i donīt trade 4 positions i trde only 1 all or nothing. but itīs my style.

i think that in a great trend like today 25pips retraces is too small & whit your strategie, today we were stoped out in e/u at 1.2275.

i donīt wannna change anything in your strategie i think is perfetc for entries but i prefer managed my exits.

thank you, kraven.
  • #66
  • Jul 1, 2010 10:40am Jul 1, 2010 10:40am
thought i'd have a quick pop at EJ as it went through 109.00, will leave it and come back later tonight. just 1lot with SL at 108.95

still don't know why this dropped the way it did earlier today.
  • #67
  • Jul 1, 2010 10:45am Jul 1, 2010 10:45am
hell i'm going to put an auto TP of 109.79 on EJ incase i don't come back tonight.
  • #68
  • Jul 1, 2010 12:54pm Jul 1, 2010 12:54pm
just moved my SL to 109.45 on EJ for +45 guarenteed. still keeping target the same
  • #69
  • Jul 1, 2010 1:00pm Jul 1, 2010 1:00pm
Quoting kiscan
nice morning to all.

iīm still in e/u +200 by now.

i exited e/j at 108.70 +70.

i donīt trade 4 positions i trde only 1 all or nothing. but itīs my style.

i think that in a great trend like today 25pips retraces is too small & whit your strategie, today we were stoped out in e/u at 1.2275.

i donīt wannna change anything in your strategie i think is perfetc for entries but i prefer managed my exits.

thank you, kraven.
No prob's mate. Glad the entries working for you but remember I said to place stops under big numbers by 5 or so pips, so instead of 1.2275 make it 1.2270 just to allow PA the chance to rebound of the big number.

Also i use a small SL of 30pips because I tend to use this system as a daytrade type one, sometimes i'm in and out in minutes (if i think the market will turn against me, I'll take a quick 25pips)
  • #70
  • Jul 1, 2010 2:55pm Jul 1, 2010 2:55pm
who says previous resistance and support don't matter.

price hit my target 109.79 for +79. Why did i choose this number. 29/06 at approx 2am GMT price resistance around 109.80/85. price has bounce off 109.80/81 three times in the last hr. Amazing how things happen.

Had a very good day with lots of pips (which means money). Night all, let's see what tommorrow brings.

(and EJ moves slowly through resistance)
  • #71
  • Jul 1, 2010 11:56pm Jul 1, 2010 11:56pm
morning all

Hovering around some big round numbers on EJ, GU and EU. GU looks most promising with MOM down and bars mainly red and 5150 under price
  • #72
  • Jul 2, 2010 12:08am Jul 2, 2010 12:08am
Quoting kiscan
nice morning to all.

iīm still in e/u +200 by now.

i exited e/j at 108.70 +70.

i donīt trade 4 positions i trde only 1 all or nothing. but itīs my style.

i think that in a great trend like today 25pips retraces is too small & whit your strategie, today we were stoped out in e/u at 1.2275.

i donīt wannna change anything in your strategie i think is perfetc for entries but i prefer managed my exits.

thank you, kraven.
Did you have any more bets over night kiscan?
  • #73
  • Jul 2, 2010 12:10am Jul 2, 2010 12:10am
good morning.

last night. target reached e/j 110.00 100pips in the pocket.

today is a a very dificult day to operate, in 2 hours news in europe and after NFP.
  • #74
  • Jul 2, 2010 12:10am Jul 2, 2010 12:10am
punt on EU

being friday i tend to go for smaller targets with small lots and i can be a bit reckless and rash.
  • #75
  • Jul 2, 2010 12:16am Jul 2, 2010 12:16am
lot 1 banked for +25 lot 2 still running SL breakeven
  • #76
  • Jul 2, 2010 12:16am Jul 2, 2010 12:16am
Totally agree, Fridays dangerous.....
GU and 1.5200,.... letīs see
  • #77
  • Jul 2, 2010 12:24am Jul 2, 2010 12:24am
Quoting kiscan
good morning.

last night. target reached e/j 110.00 100pips in the pocket.

today is a a very dificult day to operate, in 2 hours news in europe and after NFP.
Agreed. I tend to try and keep these types of bets flexible on Fridays (especialy when news is around).
  • #78
  • Jul 2, 2010 12:31am Jul 2, 2010 12:31am
open new trade g/u 1.52

letīs see.
  • #79
  • Jul 2, 2010 12:32am Jul 2, 2010 12:32am
Quoting Caillou
Totally agree, Fridays dangerous.....
GU and 1.5200,.... letīs see
Not for me. but good luck
  • #80
  • Jul 2, 2010 12:41am Jul 2, 2010 12:41am
Touch 1.5200 but very slowly, so I didnīt take the trade....
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