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  • #558,081
  • Nov 3, 2011 11:09pm Nov 3, 2011 11:09pm
Quoting happytrader
can anyone please teach me how to make at least 100 pips instead of 5 pips and got stopped out all the time?


i am so sick of being stopped out.... i have never ever made more than 30 pips in any single trade......

i think it's not a good strategy when my average SL is 15 pips and average win is 20 pips... and the worst is that my winning rate is only 30%!!!!
That used to happen to me. Easy solution, tp frequently. In time, you will know when to keep trades open and when to close them. And never let winners turn into losers. Move SL to break even.
  • #558,082
  • Nov 3, 2011 11:15pm Nov 3, 2011 11:15pm
Quoting Kowalczyk
That used to happen to me. Easy solution, tp frequently. In time, you will know when to keep trades open and when to close them. And never let winners turn into losers. Move SL to break even.
that's true. thanks . but i'e been trading for almost 8 months now.... still trade like a noob...big time
  • #558,083
  • Nov 3, 2011 11:16pm Nov 3, 2011 11:16pm
Quoting happytrader
can anyone please teach me how to make at least 100 pips instead of 5 pips and got stopped out all the time?


i am so sick of being stopped out.... i have never ever made more than 30 pips in any single trade......

i think it's not a good strategy when my average SL is 15 pips and average win is 20 pips... and the worst is that my winning rate is only 30%!!!!
If the swings kill your SL, try reducing your risk amount so that you can put in larger stops. This obviously reduces your profit for large moves but also allows you to hit less precise entries.

You might also try entering closer to key levels so that you can place your stop around them. Since typically breaking through key levels is difficult you may find that trading them makes your stop level a little more effective.
  • #558,084
  • Nov 3, 2011 11:30pm Nov 3, 2011 11:30pm
Quoting happytrader
can anyone please teach me how to make at least 100 pips instead of 5 pips and got stopped out all the time?


i am so sick of being stopped out.... i have never ever made more than 30 pips in any single trade......

i think it's not a good strategy when my average SL is 15 pips and average win is 20 pips... and the worst is that my winning rate is only 30%!!!!
Read this guy's thread. Study and practice what he teaches there for about 6 months and things should really pick up for you. Focus on the easy stuff at first like channels, flags, wedges, fibs, SR and confluences. You need to learn how to isolate and trade off of good price levels to succeed. GL

http://www.forexfactory.com/showthread.php?t=222441
  • #558,085
  • Nov 3, 2011 11:40pm Nov 3, 2011 11:40pm
i have 4 orders:
sell limit: 1.4080 sell EUR/USD, 1.0730 sell AUD/USD, 1.6140 sell GBP/USD
buy limit: 0.9900 buy USD/CAD
all the orders are 0.04 lot and have 70 pips s/l so i will lose around 120 dollars if they are all s/l
i am going to sleep now and see you guys tomorrow. let's see if any of them will get s/l when i wake up
  • #558,086
  • Nov 3, 2011 11:40pm Nov 3, 2011 11:40pm
Quoting happytrader
that's true. thanks . but i'e been trading for almost 8 months now.... still trade like a noob...big time
Think of it this way. Instead of choosing a weak entries with a large stop needed, be very stingy and demand only the best entries. You can have a much smaller stop, increase your position size (by 2 to 4 times in some cases), have a better risk to reward and a lot better success ratio.

For example, today, I thought that we would have support at 1.3800 and 1.3778. My SL was going to be 1.3770. If I entered at 1.3800, I would have had risked 30 pips. However, if I entered at 1.3778, I would only be risking 8 pips. That means you can have a position 4 times larges and still risk the same amount (not to mention get a better price). Today, it just so happened that my 1.3778 order did not get filled but even if only half your orders get filled, your position size will be so much larger, it will be worth it in the end. Also, you will probably get a good bounce, enough to move your stop to break even.
  • #558,087
  • Nov 3, 2011 11:49pm Nov 3, 2011 11:49pm
Last 2 weeks have belong to strong bears, in process of building bear flag now, is not wise to long when close to utl of flag, againt daily trend, with mofu 3832, tl,s monthly open just above, is better wait all these resist break before even consider long, is nice option for some bear pips,, flag range is nice, <150pips,
Is 4hr chart, show 3832 been very good to us, to defend sell and to take profit when sell was above, we will trust her until she fail
Keep level in mind 3832

Trade safe kiwi
Attached Image (click to enlarge)
Click to Enlarge Name: EU 4hr 4 11 2011.png Size: 40 KB
If you are new to Forex? Say Goodbye to your account!!
  • #558,088
  • Nov 3, 2011 11:51pm Nov 3, 2011 11:51pm
We might go a little lower before we go up.
  • #558,089
  • Nov 3, 2011 11:52pm Nov 3, 2011 11:52pm
Quoting Kowalczyk
Think of it this way. Instead of choosing a weak entries with a large stop needed, be very stingy and demand only the best entries. You can have a much smaller stop, increase your position size (by 2 to 4 times in some cases), have a better risk to reward and a lot better success ratio.

For example, today, I thought that we would have support at 1.3800 and 1.3778. My SL was going to be 1.3770. If I entered at 1.3800, I would have had risked 30 pips. However, if I entered at 1.3778, I would only be risking 8 pips. That means you can have...
thanks for the advice pal!
  • #558,090
  • Nov 3, 2011 11:53pm Nov 3, 2011 11:53pm
Quoting stevefx
Read this guy's thread. Study and practice what he teaches there for about 6 months and things should really pick up for you. Focus on the easy stuff at first like channels, flags, wedges, fibs, SR and confluences. You need to learn how to isolate and trade off of good price levels to succeed. GL

http://www.forexfactory.com/showthread.php?t=222441

thanks! it's really useful. gonna study them all!
  • #558,091
  • Nov 3, 2011 11:57pm Nov 3, 2011 11:57pm
this is so perfect flag pattern on 5M, can not think of better...
As Above, So Below
  • #558,092
  • Edited 1:01am Nov 4, 2011 12:03am | Edited 1:01am
Morning , so the last bull leg in bear setup still intact & alreadin in success , not broken 3787. lets see if it can break top , specially 3871 or not .Not know if any bullish news in eurozone that can sustain for long time 9 monhts together or just bullshit !! waiting.
fontu


NOTE : when see 5 digit values in ecn actually 3787 is broken but still spread may do some doubt & so benefit of doubt remain . price may fall more before the reaction to up 3804-3795 to near top or test but may fail to continue big bear next , carefull longers .

If buy activate will take only to 3830, H1 close price . No , forget it & will look short at top then .
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #558,093
  • Nov 4, 2011 12:24am Nov 4, 2011 12:24am
Quoting Kowalczyk
Think of it this way. Instead of choosing a weak entries with a large stop needed, be very stingy and demand only the best entries. You can have a much smaller stop, increase your position size (by 2 to 4 times in some cases), have a better risk to reward and a lot better success ratio.

For example, today, I thought that we would have support at 1.3800 and 1.3778. My SL was going to be 1.3770. If I entered at 1.3800, I would have had risked 30 pips. However, if I entered at 1.3778, I would only be risking 8 pips. That means you can have a position...
i would like to suggest him looking for relatively large target profit such as around 100 pips, he can enter small entry for 40-50 pips s/l and then he can add more when he has 20-30 pips if he can see the market moves on a trend and then keep the s/l for both sides average b/e and then add another one later...
well, thats how i trade for medium term if i decide to trade for a 300+ pips move and i will do that way, add more when i believe it is on a trend or when it break some significant resistence/support, wait for the rest on the trend line or former resistence/support.
but as long as he is comfortable with the way how he trade thats all good
  • #558,094
  • Nov 4, 2011 12:31am Nov 4, 2011 12:31am
First the cornering of Panadreou – both by EU leaders requesting a swift approval of the EU agreement by Greece before cash is running out and then the defection from his referendum plan by cabinet ministers and party colleagues – leaving the market with the strong impression that the referendum call could be withdrawn. EURUSD up from 1.3656 – the low of the day - to 1.3830.

Then the ECB rate cut of 0.25% which took the market a bit by surprise, knocking some 75 pips of the EURUSD from its high and a further fall of 100 pips throughout the press conference of its new President Mr. Mario Draghi.

Mr. Draghi - or Super Mario as he is called back home in Italy - gave a reassuring performance in his first press conference. Confident, explaining, intelligent answers to questions – left us with the impression of a man up to his job. The outlook for the Euro-zone region is one of “mild recession” towards the end of this year – justifying the rate cut – despite inflation being above where ECB would like to see price developments.

The inflation outlook is one for lower inflation and one which triggered thoughts for further decreases to come – at least one and possibly soon.

The bond purchasing program will continue but the word “limited” was underlined as a response to the question of whether this could be extended.

Half way through the press conference news out of Greece indicated that Papandreou had given up on his plan for a referendum and today’s second relief rally got on its way – this time to a new daily high of 1.3853.

An almost 200 pips range for EURUSD – and done twice. A great day for intraday trading – but different from earlier sessions – as data and news yesterday supported each step of the move.

It has been an eventful and interesting week – and it is not finished yet. We have the ongoing G20 meeting in Cannes which can add to the news picture and we have jobs day in the US. US non-farm payroll figures and unemployment figures are some of the top events for volatility and possible moves afterwards. And then we have the confidence vote in Athens – which now looks to be the approval of the EU agreement – for later parliament elections to come. Mr. Papandreou’s days at the helmet of Greece looks to be coming to an end.

1.3600-50 now looks to be strong support EURUSD. It held when the Greek saga was at its most boiling point earlier in the week – and it held yesterday – after the ECB rate cut and the bank’s lower projections for economic activity the European area.

The upside for the pair has been driven by relief rallies. They might faint as Greece looks to be approving the agreement of 27 October. I expect G20 to make some statement which could be EURO supportive – but Monday’s high looks to be the high of this week – and while I last night was rather bullish in my thoughts for a finish of the week close to 1.4000 – I am less sure as of this morning.

I would have liked NY to have finished above 1.3825 to maintain that outlook. They failed with a few pips – and as such I am less sure what the end of the week level will be.

A lot of this can be altered by news and US job reports. As such you should trade cautiously.

It’s been a long and eventful week. Have a nice weekend.
  • #558,095
  • Nov 4, 2011 12:32am Nov 4, 2011 12:32am
Quoting Yuchen
i would like to suggest him looking for relatively large target profit such as around 100 pips, he can enter small entry for 40-50 pips s/l and then he can add more when he has 20-30 pips if he can see the market moves on a trend and then keep the s/l for both sides average b/e and then add another one later...
well, thats how i trade for medium term if i decide to trade for a 300+ pips move and i will do that way, add more when i believe it is on a trend or when it break some significant resistence/support, wait for the rest on the trend line...
thanks! your recommendation is good. i really need to start making 100 pips profit... for a big change
  • #558,096
  • Nov 4, 2011 12:32am Nov 4, 2011 12:32am
Its quiet. A little too quiet. We might get something out of the G20 meeting later today.
  • #558,097
  • Nov 4, 2011 12:34am Nov 4, 2011 12:34am
I will go long if the last 1Hr candle's high of 1.3820 is broken by 5 pips. ie. 1.3825 will be my entry for long...

What say?
  • #558,098
  • Nov 4, 2011 12:43am Nov 4, 2011 12:43am
There are only a few things in this world that compare to the feeling of closing a +100 pip trade.

Everyone should experience this at least once in their trading life ^_^

good luck!
  • #558,099
  • Nov 4, 2011 12:54am Nov 4, 2011 12:54am
Quoting MidasFX
There are only a few things in this world that compare to the feeling of closing a +100 pip trade.

Everyone should experience this at least once in their trading life ^_^

good luck!
seriously? what would those things be?
  • #558,100
  • Nov 4, 2011 12:56am Nov 4, 2011 12:56am
Quoting darimik
seriously? what would those things be?
I've closed 2 already this week (not to brag or anything)?
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