Trading with Style

Hi, traders...
I'm developing a new style of trading..
its not a new approach nor a new system..

here's the screen shot,
later a will explain what or how my trading style...

Assume you have 10.000 pips in your account balance.
says you want to risk 2% --> 200 pips.
Range in your chart (highest-lowest) is : 167 pips
Lot size = 200 / 167 = 1.19 ( round down )
this is max. lot size you can use.

this is mean, when you trade one position with 1.19 lot size, then market against your position till 167 pips..you will lose 198.73 pips.

or you want to divide your position, says into 5 pos.
therefore your lot size is : 1.19/5 = 0.23 ( round down )

this is mean, when you trade 5 position with 0.23 lot size, then market against each your position till 167 pips..you will lose 192.05 pips.

So, how to trade?
first you should see the "big picture" ..( most forex guru suggest this ..)
zoom out your chart to minimum or until candlestick same look with barchart (see first post..)
you will see big red arrow in the left. in first post its down, trend is down then.
but, current price is above half of range, so its possible to change trend direction.

Option
1. long @ 1.5787 with 1.19 lot size. TP 1.5802 up to 1.5836
SL 1.5697, possible loss = 90*1.19 = 107.1 ( less than 2% of your account balance )

2. short @ 1.5787 with 1.19 lot size. TP 1.5748 up to 1.5697
SL 1.5836, possible loss = 49*1.19 = 58.31

3. long @ 1.5787, @ 1.5748, @ 1.5731, 1.5714, @ 1.5697 --> 5 pos.
SL 1.5680 all with 0.23 lot size, possible loss = ?? (you calculate.. ^_^) but it should less than 2% of your account

4. short with same method as #3..

yes, there will be uncertainty in forex market, no one can 100% accurate to predict market direction. all we can do is to know/calculate the risk.

nb. attached the indicator, please note I like clean chart so the indi will delete all object in current chart.

here's trade execution example..
please note its on DEMO account..

ay ya ya ya....

no reply, my thread has been moved ...

yes, trend is change..

it seem cable want to break 1.6016...lets see...:nerd:

..it may touch 1.6071..

..wait for next H4 candle, and see what happen

..see your position all minus...
but it's okay as long your risk already calculate...

Hi Aces
Could you explain your indicator in detail please.
Thank you

Aces what is the trigger for your entry, and how you set the stoploss and takeprofit target

Best regards,
Jin Shan

Hi,
npb, please see my pic.
I'm still developing for my indy, and hope you can give some suggestions, input, opinion, whatever it makes better..

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rgrds

hi,

basically i have some trigger for my entry.

1. first i define the range. usually i use 2 prev. day.
then indy will draw pivot, R1,S1..etc
it also give candle dir.
so my enter the market when price is near the R1, S1, Pivot, etc
with same direction of candle range. ( the biggest triangle )
lot size calc base on : risk x equity / piprange
SL : near S1, R1, High, Low, Pivot, median, etc...
TP : usually i dont set it. I just focus on my SL.
when i dont set my TP, it will give me kind of "surprise gift"
just like yesterday when USDJPY rise to the sky...

2. engulfing candle,( solid triangle in price chart )
when the indy detect engulfing candle,
it will draw high or low price, and draw recommended SL.

3. all red, all green.
thanks to Brb-Fraudin for his idea.
This simple scalping system has high accuracy for me.
SL base on near R1, S1 Pivot, etc....

hope it clear for you...

-----
rgrds

Quite clear Aces,
keep on posting, and add more chart

Best regards,
Jin Shan

hi AcesHigh,

I like what you are developing, very clean & elegant style.

Just a little suggestion that may help, if you are focusing on scalping then adding the current spread to the indy would help with non fixed spread brokers.
Or is that what the number "3" is in your latest pic?

I`m just going by the indy you posted.

Great work

Alien

Hi All,

Thanks for ur suggestion Alien trader.
yes the number "3" is spread of current symbol.
fyi, I use both, long position and scalping.

here's my indy update, hope can be useful.

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rgrds

Fiber, Cable and Aussie is suffer under pivot line..
but possible to reach pivot..just my imho..

hi AcesHigh,

your pics look good, unfortunatley I am running MT4 build 225 & your .exe file crashes it. It needs to create its own .exe file to work. I can't update to a recent build because of issues it causes with Crossover which I use to make MT4 run on a Mac.

From your pics - the colour box detectors look interesting, do they update in real time?

I think it would handy to have the option of viewing either 4 or 5 if you use a 5 decimal broker. I find it is much clearer on screen with small fonts to see prices quoted in 4 decimal places.

Alien

Hi Alien Trader,

there you go..

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rgrds

.. trading is boring, lets "play" for a while...