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Trading Made Simple

  • #3,221
  • May 19, 2011 9:19am May 19, 2011 9:19am
Quoting Incrediblle
coz may be u take entry too early...
Nope. Entry exactly according to the rules as laid out. Success rate is high, but RR sucks.
  • #3,222
  • May 19, 2011 9:20am May 19, 2011 9:20am
[quote=dean;4630241]
Quoting 33drifter
Sorry about that mate....I actually got on that trade.....while you were writing
no losers eh??? thats fantastic! well done. How many have you entered and how many per day do you enter??

Actually thats not true, i had a few losses on my demo account. ive been trading my live account since last monday so almost 2 weeks. 16 trades so far. 6 trades were closed around BE + or - 1. 10 trades hit my TP at 10 in the first week and 15 this week. usually 1 or 2 trades a day depending on my full time job
  • #3,223
  • May 19, 2011 9:21am May 19, 2011 9:21am
I may be wrong, but I believe that the Synergy post is the one E uses. I think he said that it was modified by Dean Malone.


Quoting fiore
Hello, People!
This thread has consumed my life for the past 48hrs because now I finally have some hope that I have a possibility of becoming profitable....
Read the entire thread BEFORE you ask questions!
  • #3,224
  • May 19, 2011 9:21am May 19, 2011 9:21am
Quoting ken911
40/50pip SL is probably right on this stategy, but the Reward just isnt there for that amount of risk.
you must consider probability into your risk factor.....you can have a rr of 1:1 if your stop is equidistant of your tp. im assuming this is what you are referring to as rr. but if your porobability of success is 3:1 on any given trade..I say 3:1 because 75% success has been mentioned and agreed upon in this thread, then your risk factor must be calculated differently. lets say sl is 10 pips......if sl:tp = 1:1 and win:loss = 3:1 then you risk 10:10 with an average of 3 wins (30) and (-)one loss (10)= giving you a 20 pips positive expectancy.....effecively giving you a signifigant edge with an equidistant sl and tp
  • #3,225
  • May 19, 2011 9:22am May 19, 2011 9:22am
Quoting ken911
Nope. Entry exactly according to the rules as laid out. Success rate is high, but RR sucks.
post your chart as soon as you enter. I am sure ther must be something small you are doing wrong and some of the experienced people here will sort it out quickly I reckon. Are you on the one hour or 4 hour??
  • #3,226
  • May 19, 2011 9:22am May 19, 2011 9:22am
I believe Big E had a post that on a 4 hour chart he uses a 100 ip SL if he is going to back to sleep, and that it had NEVER been hit. If he is going to stay up after entering a 4 hour trade he never let price go against him more than 40 - 50 pips. Just my recollection. Could be wrong, as I am old.
  • #3,227
  • May 19, 2011 9:23am May 19, 2011 9:23am
Quoting rascal
only a matter of time til you blow account number five!
keep negativity to yourself. we help each other in this thread
  • #3,228
  • May 19, 2011 9:27am May 19, 2011 9:27am
Quoting XxLessoxX
you must consider probability into your risk factor.....you can have a rr of 1:1 if your stop is equidistant of your tp. im assuming this is what you are referring to as rr. but if your porobability of success is 3:1 on any given trade..I say 3:1 because 75% success has been mentioned and agreed upon in this thread, then your risk factor must be calculated differently. lets say sl is 10 pips......if sl:tp = 1:1 and win:loss = 3:1 then you risk 10:10 with an average of 3 wins (30) and (-)one loss (10)= giving you a 20 pips positive expectancy.....effecively...
show me a game at the casino with a +50ev and i would never leave
  • #3,229
  • May 19, 2011 9:28am May 19, 2011 9:28am
[quote=33drifter;4630265]
Quoting dean


Actually thats not true, i had a few losses on my demo account. ive been trading my live account since last monday so almost 2 weeks. 16 trades so far. 6 trades were closed around BE + or - 1. 10 trades hit my TP at 10 in the first week and 15 this week. usually 1 or 2 trades a day depending on my full time job
Mate that is sensational...I am really pleased for you. I mean if you can hit 18 out of 20 and screw your SL in a bit you are laughing. I carry on so much about set and forget becasue I find myself screwing around with my SL if it comes back on me....instead of letting it stop out I have been known to remove it and will it back into profit....learning to stop doing that now but for me...the more I can leave myself out of the trade once it is set the better. So sorry to carry on about it so much.
  • #3,230
  • May 19, 2011 9:30am May 19, 2011 9:30am
Quoting ken911
I just can not get to the point where 20pips is enough SL. It frequently goes against me for 25+ pips before turning in my direction.
Whats your secret?
I've said it before but 20 pips is a nothing SL. You will get stopped out of the majority of what would be your good trades.

On the 4H the 1H and the 5M. Doesn't matter the time frame. It's just too small.
  • #3,231
  • May 19, 2011 9:31am May 19, 2011 9:31am
update on my usd chf.
closed for +33
went to +54 but retraced. decided to get out... fell just short of my tp.
Much prefer the 4 htf.

I'm cooked today .... tomorrow is another day
  • #3,232
  • May 19, 2011 9:33am May 19, 2011 9:33am
Quoting KumoDragon
I've said it before but 20 pips is a nothing SL. You will get stopped out of the majority of what would be your good trades.

On the 4H the 1H and the 5M. Doesn't matter the time frame. It's just too small.
agree let it breathe
  • #3,233
  • May 19, 2011 9:36am May 19, 2011 9:36am
Quoting johnsund
I believe Big E had a post that on a 4 hour chart he uses a 100 ip SL if he is going to back to sleep, and that it had NEVER been hit. If he is going to stay up after entering a 4 hour trade he never let price go against him more than 40 - 50 pips. Just my recollection. Could be wrong, as I am old.
yep thats correct....but BigE is not your normal trader......He developed this..he knows it intimately and has no doubt.....he risks 10 - 15% on trades...and he expects on his 4 hour trades to wake up with 150 pips in the bank.....an RR better than 1:1
Fact is....most of us cant afford to do that nor want to. I want the minumu risk with the highest prob trades.
He considers he has that and doesnt feel the need to protect his account and I envy that....but its not me. If I am going to risk losing 100 pips....I want to MAKE 100 on the winners.
  • #3,234
  • May 19, 2011 9:36am May 19, 2011 9:36am
How do you get MT4 HA candles on your chart, i cant find them?
  • #3,235
  • May 19, 2011 9:37am May 19, 2011 9:37am
Quoting XxLessoxX
keep negativity to yourself. we help each other in this thread
  • #3,236
  • May 19, 2011 9:39am May 19, 2011 9:39am
Quoting KumoDragon
I've said it before but 20 pips is a nothing SL. You will get stopped out of the majority of what would be your good trades.

On the 4H the 1H and the 5M. Doesn't matter the time frame. It's just too small.
depends how well you hone your entry. I am intersted in how you manage your risk Kumo?? I read one of your posts which spoke about how you amss 1000 pips and move up a level in regards to your trading lots but I dont remember anything about your trade management....how do you deal with SL and TP??
  • #3,237
  • May 19, 2011 9:41am May 19, 2011 9:41am
Quoting 33drifter
How do you get MT4 HA candles on your chart, i cant find them?
navigator panel on left hand side, then in custom indicators
  • #3,238
  • May 19, 2011 9:43am May 19, 2011 9:43am
Bearish wave on the way
Trade responsiblypatience is the key/Swing trader
  • #3,239
  • May 19, 2011 9:46am May 19, 2011 9:46am
Quoting Incrediblle
Bearish wave on the way
Attached Image
  • #3,240
  • May 19, 2011 9:46am May 19, 2011 9:46am
Quoting silversurfer
Have u got Oanda meta trader or their proprietary platform?
Aha! I had their proprietary platform. That must be the problem. Thank you silversurfer and everyone that has assisted me
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