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  • #3,941
  • Edited 1:15am May 26, 2011 1:10am | Edited 1:15am
@xxlessox

what would be your stop loss if your tp is 20-40pips? also the same or 2x that? also do you mind saying what your target is for the typical pairs like eu,au,gu,uj, etc?

technically it's also not wrong to have a 1:1 or lower risk:reward ratio if your win rate is high I personally have a r:r ratio of 1:2, because I have lower than 50% win rate, as I am a trend follower trader

this'll be a big help, thanks!
  • #3,942
  • May 26, 2011 1:11am May 26, 2011 1:11am
Quoting dean
are you saying that this strike rate of yours is from this sytem alone?? is this the only system you trade?? and what MM system do you use to protect your capital and cut your losses??
the strike rate is on this system....three weeks live 87%...not the only system I use...i scalp smaller tf with another method during the Ny session.
as for mm? its personal and depends on your risk appetite. my MM involves a set of different rules that are personal and tailored to my trading. i follow strict rules for this system however ...never let winners turn to losers...lock in profits as soon as possible...protect capital with stop losses...respect your stop losses, unless in a trade and pa tells me to get out (123 pattern against me, pin bar,etc) then im out before my sl. for instance the eur/gbp trade i am in is pos 20 with profits locked in at plus five..my tp is 30, at the next resistance level as i see it on my chart..
  • #3,943
  • May 26, 2011 1:22am May 26, 2011 1:22am
Quoting toybits
@xxlessox

what would be your stop loss if your tp is 20-40pips? also the same or 2x that? also do you mind saying what your target is for the typical pairs like eu,au,gu,uj, etc?

this'll be a big help, thanks!
if i am watching the charts the i use tdi angle to exit. typically i sleep through these trades. thats the reason for a tp at all. but sl can be fourty or sixty...or ten..where is the last swing? tp are generally larger on eu gu ej gj because they have larger ranges. most of the time my tp on the eu gu are near 50 only because it is within the range of the next support or resistance level...i find fifty gets consistently hit. less ranging pairs like uj or eg i typically look for trades that will go at least 20-30 to the next level of s/r. if smaller than that i wont take it
  • #3,944
  • May 26, 2011 1:24am May 26, 2011 1:24am
Quoting hicomm
I must must agree with you because i also average a net of 500pips monthly strictly trading on 4H with my tp ranging between 55-65 pips per trade. I've also heard a lot of argument that it's a waste of the using the 4H chart for such but i completely disagree because it's a consistency which i'm so not ready to give up. I know that when i take a trade on the H4 after all parameters have been met, very rarely would it not hit my tp.
Happy pipping.
yeah, ive heard that to from guys who cant turn a profit...all parameters met is the key.
  • #3,945
  • May 26, 2011 1:36am May 26, 2011 1:36am
Do any body have any idea how do we make trading related you tube video? and how do we load on you tube platform?
Trade responsiblypatience is the key/Swing trader
  • #3,946
  • May 26, 2011 1:53am May 26, 2011 1:53am
Quoting XxLessoxX
Ive posted about this before and no one responded, but i just want to chime in.....I agree with using the last swing for a stop loss as big E does. this is a trend counter/trend system ergo if the swing is taken out then you are wrong and you should be out. im not understanding why no one considers that valid? .

thankyou for this post XxLessoxX
  • #3,947
  • May 26, 2011 2:17am May 26, 2011 2:17am
Quoting XxLessoxX
the strike rate is on this system....three weeks live 87%...not the only system I use...i scalp smaller tf with another method during the Ny session.
as for mm? its personal and depends on your risk appetite. my MM involves a set of different rules that are personal and tailored to my trading. i follow strict rules for this system however ...never let winners turn to losers...lock in profits as soon as possible...protect capital with stop losses...respect your stop losses, unless in a trade and pa tells me to get out (123 pattern against me, pin...
Not arguing, you obvioulsy have good discipline, plenty of experience and belief. It was never a discussion on HAVING to have a particular RR, it was more in regards to whether or not we could get our SL tighter so as to improve it. My ocncern with the SL being on the swing prior or the 100 pip SL Big E has for emergencies is that its a lot of trading to get you out of the hole if you happen to get it taken out one night whilst you are in bed. And particularly if you have a string of losses as you knw is quite common in this game. Particularly if you are taking 20 - 40 - 50 pips profit. I am not criticising you at all.....its just something that concerns me. Its sensational that so many people here are reporting high strike rates and great profits and I wish you and everyone all the best. However 3 weeks is hardly enough time to call anything in forex consistent. Big E to 2 years off to study and develop this method....7 days a week....2 years....so although it seems he has gifted us a beautfullly developed method....most of us dont have anywhere near that experience and knowlede and screen time. Not necessarily a fixed RR, just a hope that we could all work out a tighter SL so it doesnt take so long to dig out of the hole when our SL is hit thats all.
  • #3,948
  • May 26, 2011 2:18am May 26, 2011 2:18am
Great last few posts XxLessoxX
FF journal: Peaks and Troffs
  • #3,949
  • May 26, 2011 2:25am May 26, 2011 2:25am
I think R:R is a bit of a myth. The higher the desired R:R, the less times it will be hit.i.e 1:1 gets hit a lot more than 1:10, stands to reason. I liken it to gambling on the pokies; all we know is how much we are prepared to risk each time. We put our 20c in the slot and pull the handle, EXCEPT we are trying to stack the odds in our favour with our hard earned knowledge and work(our edge).Don't get too hung up on R:R, look for where price may stall and is a good place to TP.
Just my 2 pips
FF journal: Peaks and Troffs
  • #3,950
  • May 26, 2011 2:31am May 26, 2011 2:31am
Quoting bogus
I think R:R is a bit of a myth. The higher the desired R:R, the less times it will be hit.i.e 1:1 gets hit a lot more than 1:10, stands to reason. I liken it to gambling on the pokies; all we know is how much we are prepared to risk each time. We put our 20c in the slot and pull the handle, EXCEPT we are trying to stack the odds in our favour with our hard earned knowledge and work(our edge).Don't get too hung up on R:R, look for where price may stall and is a good place to TP.
Just my 2 pips
Again...its not so much the RR I am concerned about. I was simply looking for a way to tighten the stop loss. BigE doesnt use them......the majority of us HAVE to so its common sense to try and tighten them if we can.. Hey it may not be possible, but who knows....there are so many of us trading this method now that I am sure a few of them have worked out they dont need such a large stop loss. Look I know we should exite when the tdi has flattened and that should always be well before the SL is hit, but many are putting trades on and going to bed for four hours....a lot can happen in that time and if you get taken out 100 down and you have only been taking 20 - 40 pips profit, you have to trade yourself out of a big hole just to get back to even. Know what I mean??
  • #3,951
  • May 26, 2011 2:38am May 26, 2011 2:38am
Looks like on the 4HR GBP-CAD trade coming up on open of the new candle at 10 am. Any thoughts??
  • #3,952
  • May 26, 2011 2:43am May 26, 2011 2:43am
Quoting dean
Again...its not so much the RR I am concerned about. I was simply looking for a way to tighten the stop loss. BigE doesnt use them......the majority of us HAVE to so its common sense to try and tighten them if we can.. Hey it may not be possible, but who knows....there are so many of us trading this method now that I am sure a few of them have worked out they dont need such a large stop loss. Look I know we should exite when the tdi has flattened and that should always be well before the SL is hit, but many are putting trades on and going to bed...
Here's my take on it.....

Eel uses only an emergency SL of 100 pips, in general he doesn't set a stop loss. That's maybe a result of him spending 2 years developing this system. He has confidence enough to let the positions run. If you need to set a tighter SL (and I fully understand that because I dont yet have the confidence or a large enough account to run with 100pips SL) then there is a good chance that your lower SL is going to get taken out. If we accept this as a given, then the answer is to perfect the entry by checking much lower TF's (like 5M or even 1M) then exit at the the first wave and be happy with a 20 or (less frequently) 30 pip TP. It's just a fact that a tighter SL is going to get hit if you go to sleep during the London session.
Now trading live
  • #3,953
  • May 26, 2011 2:46am May 26, 2011 2:46am
Quoting bogus
Great last few posts XxLessoxX
thanks bogus..
Dean, i encourage you to argue if you think im wrong you seem very logical and methodical..and im usually one of those going to sleep after trades are set and i would be lying is i said i always use a 100 pip sl. i see your point and i would like to see someone maybe strategy test 30 40 and 50 pips sl....i thiink we were talking about two different things btw
  • #3,954
  • May 26, 2011 2:47am May 26, 2011 2:47am
Quoting dean
Again...its not so much the RR I am concerned about. I was simply looking for a way to tighten the stop loss. BigE doesnt use them......the majority of us HAVE to so its common sense to try and tighten them if we can.. Hey it may not be possible, but who knows....there are so many of us trading this method now that I am sure a few of them have worked out they dont need such a large stop loss. Look I know we should exite when the tdi has flattened and that should always be well before the SL is hit, but many are putting trades on and going to bed...
First let me say I have great respect for you for posting what you have.
I think risk comes down to the individual trader not matter what their account size as that can be adjusted. From my personal view, I am only prepared to risk a certain amount of pips to know whether a trade is going to work or not. That's because I'm a breakout of a 1-2-3 range trader. I like this system because it gives an early signal, a heads up. Check out how many times it gives a signal, then fakes the other way and then carries on. It's pretty cool.I only give it a small amount of pips to go my way and if it doesn't I'm out. If it then decides to go my way I'm in again and because of my low risk I end up a winner.
FF journal: Peaks and Troffs
  • #3,955
  • May 26, 2011 2:49am May 26, 2011 2:49am
i think there was a post where BigE said he only took 50pips per trade, something about that he wasn't greedy. ill try to look for it...but if that was his target and 100pips was his emergency sl then that's 2:1

how was 50 (or 40,20) derived anyway? from the average true range? The current extreme of the 1hour EUR ATR is around 40pips so i'm thinking it came from there
  • #3,956
  • May 26, 2011 2:50am May 26, 2011 2:50am
Quoting Gg33
Here's my take on it.....

Eel uses only an emergency SL of 100 pips, in general he doesn't set a stop loss. That's maybe a result of him spending 2 years developing this system. He has confidence enough to let the positions run. If you need to set a tighter SL (and I fully understand that because I dont yet have the confidence or a large enough account to run with 100pips SL) then there is a good chance that your lower SL is going to get taken out. If we accept this as a given, then the answer is to perfect the entry by checking much lower TF's...
Totally agree. I am happy to take smaller profits if my SL is tighter. Basically I dont want to be taking 20 pips profit if I have a 100 SL thats all.
  • #3,957
  • May 26, 2011 2:53am May 26, 2011 2:53am
Quoting toybits
i think there was a post where BigE said he only took 50pips per trade, something about that he wasn't greedy. ill try to look for it...but if that was his target and 100pips was his emergency sl then that's 2:1

how was 50 (or 40,20) derived anyway? from the average true range? The current extreme of the 1hour EUR ATR is around 40pips so i'm thinking it came from there
fifty was just an example..i set the tp in the range of the next s/r level if im not going to watch it...seems to be around 40-60 lately..fifty gets hit very frequently on eu g ej
  • #3,958
  • May 26, 2011 2:59am May 26, 2011 2:59am
Quoting XxLessoxX
thanks bogus..
Dean, i encourage you to argue if you think im wrong you seem very logical and methodical..and im usually one of those going to sleep after trades are set and i would be lying is i said i always use a 100 pip sl. i see your point and i would like to see someone maybe strategy test 30 40 and 50 pips sl....i thiink we were talking about two different things btw
Yep thats what I planned on doing actually. Whilst I am still only using a mini account, maybe setting a hard SL of say 30 and see what happens. I trade the one hour chart so I am happy taking 10-20-30 pips. Just would like my SL to be close to even thats all.
Bogus: thanks for your comments...I have done nothing to deserve anyones respect but much appreciated. You are right...it comes down to the individual. And to be honest trade entry has a lot to do with tighter stops too I reckon...get your entry right and your stop can be tight and who cares if you get taken out on the odd occassions.
I planned to start testing a 30 pip fixed SL this week but I have been having troubles with the new tdi. I have changed back and I will see how I go. Feel free to help out make a record of your max drawdown in your trades if you like
  • #3,959
  • May 26, 2011 3:00am May 26, 2011 3:00am
Quoting XxLessoxX
fifty was just an example..i set the tp in the range of the next s/r level if im not going to watch it...seems to be around 40-60 lately..fifty gets hit very frequently on eu g ej
which chart do you trade?? the 1 or 4 hour??
  • #3,960
  • May 26, 2011 3:03am May 26, 2011 3:03am
Quoting toybits
i think there was a post where BigE said he only took 50pips per trade, something about that he wasn't greedy. ill try to look for it...but if that was his target and 100pips was his emergency sl then that's 2:1

how was 50 (or 40,20) derived anyway? from the average true range? The current extreme of the 1hour EUR ATR is around 40pips so i'm thinking it came from there
BigE said he expects and usually get 150 per trade, or 3-8 candles on the 4 hour chart. He said if he notices the tdi tweak or the candles pulling back more than 15 pips he will take the profit and move to the next trade.
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