GBPUSD 100 pips 
- #1,543
- Dec 9, 2011 2:05am Dec 9, 2011 2:05am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
GBPUSD 100 pips
how big is your SL and TP on H4?
Thanks
- #1,544
- Dec 9, 2011 2:09am Dec 9, 2011 2:09am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
Good morning guys and ladies
I stay out of the market for today: first its Friday and second many excellent levels are consumed or touched ( so not fresh) yesterday. So i cant see any setups for today
But i will jump right in when i see any action out there
I stay out of the market for today: first its Friday and second many excellent levels are consumed or touched ( so not fresh) yesterday. So i cant see any setups for today
But i will jump right in when i see any action out there
Hey zamfir,
how big is your SL and TP on H4?
Thanks
Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are willing to lose.—Bruce Kovner
Hence you must look around the levels , where you would stop if price reaches that level.
But on h4 , i generally keep a rather large SL , usually 70-75% of my target. So if i m aiming at 100 pips, SL would be 75 pips. But my lot sizes are smaller. So even if i take a the 75 pip loss , i try to recover by taking opposite trades.
- #1,546
- Dec 9, 2011 2:23am Dec 9, 2011 2:23am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
thanks man
read this quote
Hence you must look around the levels , where you would stop if price reaches that level.
But on h4 , i generally keep a rather large SL , usually 70-75% of my target. So if i m aiming at 100 pips, SL would be 75 pips. But my lot sizes are smaller. So even if i take a the 75 pip loss , i try to recover by taking opposite trades.
Zamfir, you are great at S&D levels
And thanks for sharing this
"Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are willing to lose.—Bruce Kovner"
Nice quote
But do you take great concern about your risk to reward ratio? Or as long as the reward is good, then you'll take it? By the way, the GBPUSD you took, your stop is around 1.5520 right? Only at the bottom of the level.
Besides, do you exit half when the price hits certain figure? Such as separate it into a few targets?
- #1,548
- Dec 9, 2011 4:27am Dec 9, 2011 4:27am
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Zamfir, you are great at S&D levels
And thanks for sharing this
"Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are willing to lose.—Bruce Kovner"
Nice quote
But do you take great concern about your risk to reward ratio? Or as long as the reward is good, then you'll take it? By the way, the GBPUSD you took, your stop is around 1.5520 right? Only at the bottom of the level.
Besides, do you exit half when...
Don't wish it were easier, wish you were better. ~ Jim Rohn
Zamfir, you are great at S&D levels
And thanks for sharing this
"Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are willing to lose.—Bruce Kovner"
Nice quote
But do you take great concern about your risk to reward ratio? Or as long as the reward is good, then you'll take it? By the way, the GBPUSD you took, your stop is around 1.5520 right? Only at the bottom of the level.
Besides, do you exit half when the price...
the gbp/usd trade
entry : 1.56999
SL : 1.57725
TP: 1.56025
I don't exit half the trades, because i then i would have to watch it every 4h. i just let it run.
like i said, if there is loss, try to cover it by taking opposite trade.
- #1,552
- Dec 9, 2011 7:26am Dec 9, 2011 7:26am
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Zamfir, you are great at S&D levels
And thanks for sharing this
"Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are willing to lose.—Bruce Kovner"
Nice quote
But do you take great concern about your risk to reward ratio? Or as long as the reward is good, then you'll take it? By the way, the GBPUSD you took, your stop is around 1.5520 right? Only at the bottom of the level.
Besides, do you exit half when the price...
pay attention to this post. We are trading Price action not our account equity. If you are just allowing risk to be decided by your balance it is not trading a plan. Like a lot of things maybe you get away with it,But if others try it could be a massive failure especially on faster charts.
Saw a guy once that used a combined stop loss of 1000 pips if he was in 4 trades and they totaled 1000 pips he would close. He made profit and was happy with it. But his gains were normally in the single digits, so the idea was crazy,
Just be careful. Ken
Good Trading To All ; Ken Lee
pay attention to this post. We are trading Price action not our account equity. If you are just allowing risk to be decided by your balance it is not trading a plan. Like a lot of things maybe you get away with it,But if others try it could be a massive failure especially on faster charts.
Saw a guy once that used a combined stop loss of 1000 pips if he was in 4 trades and they totaled 1000 pips he would close. He made profit and was happy with it. But his gains were normally in the single digits, so the idea was crazy,
Just be careful....
Thanks Ken
- #1,554
- Dec 9, 2011 8:34am Dec 9, 2011 8:34am
Hi all.
my first post but always in the background since i found the thread.
have read everything you guys said.
while reading thru the thread, i saved Ken's posts, charts and answers to everyone.
and as the thread reached 100 pages (if you didnot change the way you view posts), i thought of compiling the saved pages into one pdf file.
this is very handy for me on my ipad (or any other ebook reader you have).
this is basically my reviewer/refresher and i want to share it.
problem is, i cannot upload it here as its almost 60 mb.
i attached the cover to give you an idea.
but here's a link where you can download it for free if interested: http://www.megaupload.com/?d=ZGW1FUWI
no big deal, if you find it useful..enjoy..otherwise, delete it.
just want to say thanks to all posters as if not for the questions, we cannot pick Ken's brain.
thanks of course to Ken for sharing his thoughts..i hope you realize you are a very good teacher and you're helping a lot of 'lost' traders here.
thank you..thank you..
and please use the harvested pips in good deeds only..
allan
my first post but always in the background since i found the thread.
have read everything you guys said.
while reading thru the thread, i saved Ken's posts, charts and answers to everyone.
and as the thread reached 100 pages (if you didnot change the way you view posts), i thought of compiling the saved pages into one pdf file.
this is very handy for me on my ipad (or any other ebook reader you have).
this is basically my reviewer/refresher and i want to share it.
problem is, i cannot upload it here as its almost 60 mb.
i attached the cover to give you an idea.
but here's a link where you can download it for free if interested: http://www.megaupload.com/?d=ZGW1FUWI
no big deal, if you find it useful..enjoy..otherwise, delete it.
just want to say thanks to all posters as if not for the questions, we cannot pick Ken's brain.
thanks of course to Ken for sharing his thoughts..i hope you realize you are a very good teacher and you're helping a lot of 'lost' traders here.
thank you..thank you..
and please use the harvested pips in good deeds only..
allan
When the internal struggle ends, everything becomes easy - Mr. Douglas
- #1,558
- Dec 9, 2011 9:44am Dec 9, 2011 9:44am
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Good Trading To All ; Ken Lee
true , but you also can let a margin call be your stop loss. It is in the eye of the beholder. It is a personal choice of course . I just feel we should be choosing stop losses based on where they should be , Not because we can afford more. Just my 2 cents.
You can have 3 entries each with a stop of 15 so a total of 45 if they all fail you could combine all into on large trade and the stop might be 60 or 100 if the 4th entry holds which would you rather make up 45 pips or the 100. That is the main point. Most find in this game that the true winners...
It's my mistake that i answered my risk/money management plans and sometimes someone can follow that and lose money. I do not wish this and hence i will not be discussing anything related risk/money management. I shall only post my trades. Hope people can take the best out of it.
if you think that my trades could be harmful to others here. please let me know.
- #1,560
- Dec 9, 2011 10:03am Dec 9, 2011 10:03am
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Good Trading To All ; Ken Lee