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Quoting emmanuel7788
Congrats prftablefool!
Nice ride down.
Question: In a 150pips move (as example), how can traders multiply their pips with the same initial SL 'R' ... and get 250pips as profits?
Risk appetite varies from one trader to another and it is very subjective.

Personally, the moment I take a trade I mentally deduct my SL from the account balance which means I am ready to accept the loss right from the first minute. As trade develops and move in my direction I take another potential loss (open second lot) and therefore my risk/loss increase with every trade.

I very seldom move my SL to BE unless price has moved far away from the price at which I opened the trade.

In simple words, I consider trading as going to a restaurant, if you like the appetizer you order the meal and dessert if you are happy otherwise at bare minimum you have lost the money on appetizer anyways.

Below is the another trade which I am in. I took the first lot when price got rejected at 1.0775 and opened another lot when price aligned with Fib 61.8 and TL. Not sure if it is going to hit my TP but nonetheless I have deducted the cost of appetizer and meal from my account balance anyways.

Another method which I could think of is to move the previous lots to BE before opening subsequent trades which means at any given point of time your latest lot is on risk which keeps your risk fixed on that particular pair regardless of number of lots you open.

Multiple lots are very powerful, if played correctly with inhuman patience, for instance if you catch a moderate trend of 500 pips and you play multiple lots the end result will probably be around 1,000 pips.

Hope it make sense.
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Forex is boring but profitable with patience and discipline
Quoting prftablefool
Risk appetite varies from one trader to another and it is very subjective.

Personally, the moment I take a trade I mentally deduct my SL from the account balance which means I am ready to accept the loss right from the first minute. As trade develops and move in my direction I take another potential loss (open second lot) and therefore my risk/loss increase with every trade.

I very seldom move my SL to BE unless price has moved far away from the price at which I opened the trade.

In simple words, I consider trading as going to a restaurant,...
That's superb my friend. You know multi-lot and multi-level trading.
You are the investor-trader type. You wont be rich, but you will be wealthy for sure.

Someday, we shall dine together.
I always lookup the menu for what they serve for dessert first before I decide eating there.

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Sure dinner will be on me.

It seems you are from Singapore. I liked that country except that I had to be very careful while tossing out the cigaratte butt -
Forex is boring but profitable with patience and discipline
We all have some hours before LO.
What do you plan to do?
I'll take a look at the weekly pivot levels and look at H4 and D1 charts for PA patterns as usual.
Be mindful, I am still holding the EU trades, so my thoughts are quite different.
I am off to lunch now while the Tokyo traders go grab their sushi.

Trade with care always.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting prftablefool
Sure dinner will be on me.

It seems you are from Singapore. I liked that country except that I had to be very careful while tossing out the cigaratte butt -

Yes, I am from Singapore.
Very nice here, small little country, lots of sunshine all year round.
The is a fine country.

For smokers, come here and you will kick that bad habit for good in no time.

Whatever which is not allowed is forbidden here.
Where in other countries, whatever which is not forbidden is allowed.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
We all have some hours before LO.
What do you plan to do?
I'll take a look at the weekly pivot levels and look at H4 and D1 charts for PA patterns as usual.
Be mindful, I am still holding the EU trades, so my thoughts are quite different.
I am off to lunch now while the Tokyo traders go grab their sushi.

Trade with care always.
I am expecting some bounce around 1.3000 that's why I closed the EU. Moreover, the US Stock Index tumbled today which boost the USD and therefore probabaly witness some retracement before gaining the traction again in either way.

Just my thoughts as I may be completely wrong.

Trade well.
Forex is boring but profitable with patience and discipline
does anyone have historical results of this system?
Quoting hosita
does anyone have historical results of this system?
Hello hosita,

What sort of system historical results do you like to have?

Regards
ET
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting prftablefool
I am expecting some bounce around 1.3000 that's why I closed the EU. Moreover, the US Stock Index tumbled today which boost the USD and therefore probabaly witness some retracement before gaining the traction again in either way.

Just my thoughts as I may be completely wrong.

Trade well.
Same thoughts I have.
Right now, sellers are rushing in on H1.
Sydney will close in 2 hours time, so there will be short coverings.
1.3000 is very strong psych level and is the floor for the bouncy act.
Big decision to make right now!

To maximise profit, you must be prepare to give back 50% of what the market gave you. How valid is this statement?

No time to fear.
No need for greed.
Just do it the Discipline way.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
We all have some hours before LO.
What do you plan to do?
I'll take a look at the weekly pivot levels and look at H4 and D1 charts for PA patterns as usual.
Be mindful, I am still holding the EU trades, so my thoughts are quite different.
I am off to lunch now while the Tokyo traders go grab their sushi.

Trade with care always.
i have fibo pivot thv on my charts ,it is the same line on every TF.
i am interested in weekly pivot - can you please explain ?
best regards
ROB
Quoting hosita
does anyone have historical results of this system?
Sorry to be really brutal, but reading the thread would give you some answers

At least read the last 10 pages!
"To live with Passion, it takes Courage and Grace to survive"
From the 11th its been pretty much sell (that opinion posted at the time) only taking view from D charts. Whilst focus still clearly on sells the fun/testing times will come after say a positive D close. Do you look to buy and/or sell on the days following a pos close daily close or let the inevitable bounces run their course and just wait to sell the rallies.

The trading set ups won't always be as straight forward as this week, but they do happen a lot as any view of D chart will show. We could easily see a 4 week 500 pip down move on eur, lots of chances for good common sense sell trades.

Personally buying opp's for me really only after some pos close candle on D chart and (as usual) will just be in and out scalps waiting for the sell signals to come.

Anyway of course some buys will work, some (most?) won't, its not system failing after a buy signal its just the market which at the mo is saying sell.

Looking for another LO head fake move up today (will be ignored), but really looking for major action to be in late UK/early US session as seems the general play of things recently.
Quoting robuk
i have fibo pivot thv on my charts ,it is the same line on every TF.
i am interested in weekly pivot - can you please explain ?
best regards
ROB

Hello ROB,

here's some notes on Pivots and not to go into deper discussions over it here.

Pivot formula
The Pivot Point P = (H+L+C) /3

1st Resistance Line = R1 = 2P- L
2nd Resistance Line = R2 = P+ (H-L) = P+(R1-S1)
3rd Resistance Line = R3 = 2P + (H-2L)

1st Support Line = S1 = 2P - H
2nd Support Line = S2 = P - (H-L) = P - (R1 - S1)
3rd Support Line = S3 = 2P - (2H - L)

Daily Pivots
The Daily Pivot is calculated using the previous day High Low and Close prices.
This become very subjective as different traders in different time zones have different preferences when the new day begin.
I like to use GMT000 is the start of the new day, not matter the sunrise and sunset hours.
Yearly, Monthly and Weekly Bars
The Pivot Point of a Yearly, Monthly and Weekly Bars can be calculated from the High, Low and Close of the previous Year, Month and Week.
There are various uses of pivots. Often these are used as support and resistance for the period.
For S3 H1, it is good to use the Sonic_Chart_Panel daily pivot post#3626. It shows the pivot for the current day and not draw line across the chart.
I use the weekly pivot for H4 trading to look for support and resistance, and for weekly range target region.
Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Britpip7
Sorry to be really brutal, but reading the thread would give you some answers

At least read the last 10 pages!
I totally agree.
The answers are all in the thread.
Start from post 1 and read the first 50 to 100 pages
and then read the last 20 pages of the thread to get on track.
Results have been posted almost everyday on the thread.
X-man the legendary conqueror of markets
Ok... 1 hr to London open, looks like a TDI bounce down, I was expecting a retracement from 32... to have a long entry..

My knowledge of this systems says - No Trade!

Any thoughts..
"It always seems impossible until it is done" Nelson Mandela
Quoting Rhino101
Ok... 1 hr to London open, looks like a TDI bounce down, I was expecting a retracement from 32... to have a long entry..

My knowledge of this systems says - No Trade!

Any thoughts..
Absolutely correct, a few hours pull back is always a good thing, but do the EZ bulls have it in them today?

C'est la vie

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Maximize wins, minimize loss, stay in the game as long as you can
I believe there could be a long breakout soon.... we will see!!
PA is looking pretty week. I think will need a break above the last 2-3 1HR candles before taking a long.
Quoting Rhino101
Ok... 1 hr to London open, looks like a TDI bounce down, I was expecting a retracement from 32... to have a long entry..

There you go.. no sooner out of my mouth and the retracement starts...lol I love this business...
"It always seems impossible until it is done" Nelson Mandela
Is it possible to go short in those conditions?
Thoughts are things
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