2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #469,842
- Jun 22, 2011 3:26pm Jun 22, 2011 3:26pm
I have come up with a new strategy to increase my pip count on a daily basis.
I am only averaging 64 pips/day on EUR and in the past it was more than enough for me.
However....since I post my trades on the forum every day , I see other traders with HUGE pip counts ...like 600 ..900...4 figures etc
I feel inadequate and insecure as a result and this is what I have in mind:
In future I will have different TP levels:
+1 +2 +3 +4 +5 +6 +7 +8 +9 +10 +11 +12 (78 pips total)
So I will trade for example 12 minilots
First lot TP +1 second lot...
Firstly let me congratulate you on your success - it's not easy in Fx, and believe me, I know what I'm talking about.
Can you please explain how do you manage your R:R? I think that I'm not understanding well your strategie, because in my point of view, if you use a SL of 20, you're risking 12 x 20 = 240 pips, and only aiming at 78 pips. Is this right, or is there something more to it? If this is the case, wouldn't be easier to get a greater hiting rate if you aim 1 Lot x 78 pips, with a 240 pips SL? Do you have a rough number for your percentage of profit trades?
Thanks,
J Fonseca
PS: ENGLISH IS NOT MY FIRST LANGUAGE. SPELLING ERRORS AND SARCASM ARE NOT INTENDED
- #469,843
- Jun 22, 2011 3:27pm Jun 22, 2011 3:27pm
- Joined Mar 2010 | Status: Trader | 42,434 Posts
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #469,845
- Jun 22, 2011 3:28pm Jun 22, 2011 3:28pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
" Never let the past hold the future to ransom "
- #469,846
- Jun 22, 2011 3:29pm Jun 22, 2011 3:29pm
Hi,
Firstly let me congratulate you on your success - it's not easy in Fx, and believe me, I know what I'm talking about.
Can you please explain how do you manage your R:R? I think that I'm not understanding well your strategie, because in my point of view, if you use a SL of 20, you're risking 12 x 20 = 240 pips, and only aiming at 78 pips. Is this right, or is there something more to it? If this is the case, wouldn't be easier to get a greater hiting rate if you aim 1 Lot x 78 pips, with a 240 pips SL? Do you have a rough number for your...
Edit: check SP futs
- #469,849
- Jun 22, 2011 3:32pm Jun 22, 2011 3:32pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
It's going to 1.40
Don't be a hero. Don't have an ego. Always question yourself
- #469,850
- Jun 22, 2011 3:33pm Jun 22, 2011 3:33pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
Hi,
Firstly let me congratulate you on your success - it's not easy in Fx, and believe me, I know what I'm talking about.
Can you please explain how do you manage your R:R? I think that I'm not understanding well your strategie, because in my point of view, if you use a SL of 20, you're risking 12 x 20 = 240 pips, and only aiming at 78 pips. Is this right, or is there something more to it? If this is the case, wouldn't be easier to get a greater hiting rate if you aim 1 Lot x 78 pips, with a 240 pips SL? Do you have a rough number for your...
I risk 20 pips to gain 12 . I have a hitrate of approximately 92%. It is a short term trading strategy , just read some of the posts I made.
" Never let the past hold the future to ransom "
- #469,851
- Jun 22, 2011 3:34pm Jun 22, 2011 3:34pm
- Joined Mar 2010 | Status: Trader | 42,434 Posts
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
- #469,856
- Jun 22, 2011 3:40pm Jun 22, 2011 3:40pm
Keep the levels for now but look at what the market tells you, the market will dictate the levels , it does not care about the lines on charts.
i'll practice these levels for the next few days 
Hope
- #469,859
- Jun 22, 2011 3:44pm Jun 22, 2011 3:44pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself