DislikedI too am in this trade.. lets hope that it continues south! :! )Ignored
Ditto. I'm in live at 1.44768
Monitor for 'Trading Made Simple' system 549 replies
Indicators for the 'Trading Made Simple' system 339 replies
Disliked^^^ I can see the absolute logic behind this...
However... DGINC, who is clearly very successful using this method or his enhanced form of it - (consistently clearing 500-700 pips weekly), said recently that 15-25 pips draw down is nothing on a 1 hour candle, be prepared to accept this and let the trade breath to enable it to reach its potential, stand by your TP and SL levels and let it do its thing and dont drive yourself mad monitoring every pip of movement up or down. He cites being 600 pips down on a trade once to finally realise 1100 pips...Ignored
DislikedI agree, a 15 pip draw down is nothing on a H1 chart. I have taken stats on every trade since 29.07.11, total of 62 live trades trading valid signals according to the "rules" for the system. I log draw down, peak levels, TDI angle at the cross, how close to Ob / Os areas etc. Based on the logged DD for 60 trades, my stats tells me that my absolute minimum stop on a H1 chart must be 30 pips. (EURUSD).Ignored
DislikedIts nothing to do with his stop loss. He has his SL at the last highest or lowest swing....its about preserving his account. HE has a stop loss but prefers to exit if he sees it reversing on him 15 pips or more.Ignored
DislikedOk, so he exit about 75% of the trades he takes with 15 pip loss on each trade then?Ignored
I trade full lots: $10 a pip. When I trade the higher time frames I will only allow
10 pip or less pullback before exiting. I make every attempt possible to lose
DislikedNo point arguing with me buddy. I didnt make this up, this is in plenty of BigE's posts if you read them. Here's just one of them
I trade full lots: $10 a pip. When I trade the higher time frames I will only allow[left][b][font=ComicSansMS-Bold][size=1][color=#0000ff][font=ComicSansMS-Bold][size=1][color=#0000ff][font=ComicSansMS-Bold][size=1][color=#0000ff]10...
DislikedI'm not trying to argue Dean, but if I look at the majority of trades with a valid setup, most of the trades has more then a 15 pip dd before it works, at least if trading a 1 hour chart. So what I ment is exit if there is a 15 pip DD will give a lot of 15 pip losing trades.Ignored
DislikedNo I think he means if he is in positive territory. AS in if he is up say 20 pips and he sees it begin to pullback he will exit. As in he adapts to the current market and doesnt let it reverse back to hit his stop just becasue he has a set method.Ignored
Taken on 1 hr chart.
Shorted @ 1.4524
Stop moved to + 6 pipsIgnored
DislikedWhat was your initial SL?
Why I am asking is that I entered at 1pip difference with a initial SL of 30pips and I set my first TP target also at 30 pips for a R:R = 1:1
I have not yet moved my SL.
Would love to compare the tradeIgnored