Two Tube Trading

FX3 Thanks for the info
LTT PO EU, 4HR Long @ 1.3070 1st Target @ 1.3085
2nd 1.3123 3rd 1.3161

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Label:
LTT = Longer Term Trade
PO = Pending Order
PS Maybe my targets are too tight not sure yet

Ya i closed it for +40 usd/cad pending order clicked @ 0.9950 WAs thinking about 0.9875 but the supply coming in so closed it @ 0.9910

Today Idea is trade usd/jpy chart because of NFP yen crosses would be of huge volitality. otherwise I would have gone for franc

Thanks for letting me post my ideas

Aman

#889

2 x 2'250.-$ Real Account, Beginning Date: 2012 April 05
Actual
2012 April 06, 14:43 GMT+2
Swiss-Account-A-14 > Equity: 2'359.68$
Swiss-Account-B-48 > Equity: 2'403.02$

#904

EURUSD, M15, 2012 April 06

Exit @ 1.3102 (5/10)

Profit: +40 Pips

2 x 2'250.-$ Real Account, Beginning Date: 2012 April 05
________________________________________________

TARGET - TOTAL:
5000.-$ > 10'000.-$ 31.12.2012
10'000.-$ > 20'000.-$ 31.12.2013
20'000.-$ > 40'000.-$ 31.12.2014
40'000.-$ > 80'000.-$ 31.12.2015
80'000.-$ > 160'000.-$ 31.12.2016
160'000.-$ > 320'000.-$ 31.12.2017
320'000.-$ > 640'000.-$ 31.12.2018
640'000.- > 1'280'000.-$ 31.12.2019
1'280'000.-$ > 2'560'000.-$ 31.12.2020
2'560'000.-$ > 5'120'000.-$ 31.12.2021
See also #930

Profit Plan
Approximation of Interest Rates:
10 month x 10% (0.5% a Day x 20 Trading Days x 10 Months).
The Risk-Level will be adjusted at the actual market situation.

Surplusses (LOM) will be take out of the account and will be serve to cover losses.

Kindest regards
FXcube

2022
I will go on pension and would like to trade with smaller accounts 2 x 500'000.-$ here and there!

Hey FXcube,

I wish you good luck with your profit plan. I think especially for forex starters it's very important to create such a plan. (And follow it!!!) Then you can controle your trading and develop a good feeling, because "you are on the right way"...

Maybe something else:
In general my trading style is countertrend/retracement/swing trading. And your seems to be quiet similar. I still want to improve my trading and this weekend I wanted to focus on trading strong trends or breakouts against your open positions. For example we are long in EURUSD at the moment and it would break through 1,29 downwards. When is the best time to hedge or can we even profit of such a move??? That's only some thoughts.

If you and some others are interested I would write a post here with my current strategy etc and maybe you could also do. I think it helps many traders in this thread to avoid getting burned in a really strong trend...

Best regards
MasterYoda

http://www.forexfactory.com/showthre...83#post5547083
1st target hit 1.30880 then the TS took out the rest at 1.30729

Adjusted EA TS

#927

Get ahead, MasterYoda!
Come along!
I'm looking forward of utmost interest!
You're wellcome!
FXcube

#925
To avoid any misunderstanding:
2 x 2.250.-$ = 4.500.-$
I make 5'000.-$ and will put the rest of 500.-$ into the account if I shouldn't be able to make 500.-$/1'000.-$ more profit this year.

Ok I will try it...
At first a little introduction:
Attached is a picture of the current H4 move on EURUSD. I want to take this as a first example. (I know that the move was based on some news, but it doesn't really matter).
Typical points (in my strategy) to enter are the horizontal lines. Why? Initial move is made. Furthermore you can see some support/resisstances some time ago.
Another setting would be that a trader tried a scalp, but didn't exit at the short retrace.

So the trader has some open positions long. Now you can see the move will continue in H4. (and it's possible that it go even further -> Weekly breakout downwards...)

I am looking for a good strategy (beginner friendly) to avoid a DD, which the trader can't manage anymore.

My first thoughts are:

1.) Simple 123 trading: Sellstop at the last significant low.
+simple rules
+no interpretation
-not the best entry point
-in a ranging market many false signals

2.) improved level trading: Like FXcube Sellstop with notice of important levels in the past and mtf
+very good entry
-the trader has to be very good and experienced

3.) HeikenAshi/SynergyBars: place Sellstop at the low of the last ha candle
+ha candles filter some noise
+quiet good entry
+clear rules
-a lot of false signals

4.) a rsi strategy, which I tried this week (see picture EURUSD H1/2nd attachment): indicator at the bottom is rsi 6,8,10,14,20 with level 50. I tried to go one or two tf lower and the signal was at the vertical line, when all rsi are below 50 (in the direction of H4).
+clear rules with only some room for interpretation
+good entry
-some false signals or entry too late
-very new idea and so far not really tested

All in all that are my first ideas, which I'll test and compare tomorrow. Feel free to post your ideas or discuss the ones listed above.
To be continued...

I wish you all a relaxing weekend
MasterYoda

PS: Some information. This post or ideas are focused on new traders traders, who try this strategy. For all the experienced ones, who are allready succesfull it's not really important. I only want to help beginners trading this fantastic strategy without burning some accounts. I'm still learning, allthough I traded this strategy one year in demo and now live.

Hey all,

in post #931 I listed some basic methods to hedge or close open orders. That was more the theoretical part of forex. The trader is looking for the perfect strategy (holy grail...). But the strategy doesn't have to be perfect in order to be successful. When a system has proven (for you) to be profitable in the long term, the key is to follow it strictly and don't get nervous in bad times.

From my point of view the mental part (fear, confidence, ...) is just as important as the basic strategy. I trade forex a long time and tried hundreds of systems, but what I really got was experience (how a market moves) and self confidence. The indicators, which I use today are only to support my view and to give me some visual aid. So enough has been said. What does it mean concrete?

A few ways to exit a trade:
1.) Stoploss
I think it's the most horrible word for every trader. Because when you close an order with negative profit (= lose ), you have to accept that you made a wrong decision. For a lot of traders (including me) it's very difficult. Instead they start hoping and dreaming...

2.) Hedge
This strategy is mainly used by FXcube, too and it's better than a sl from the mental point of view. When you hedge, you can say that "you wait for a better setting". That's make it easier for a trader to execute the order, allthough theoretical it's quiet equal to a stoploss.

3.) partial Hedge
I think FXcube has greatly present us, how splitting the lot size can improve your trading. That's based on the fact that a human is never 100% right and for me that's maybe the most important part of my strategy nowadays. Now I try it to convert the partial entrys (and exits) into a partial hedge. So you can divide your lot size of the open positions by 4 and use every strategy posted above. Sure that will never be the "best/ultimate strategy", but it's mentally easier to play with parts and you can even reduce the overall DD.

4.) extended partial Hedge
Still not the holy grail, but a hedge/exit strategy, which is my aim in forex trading. It's quiet equal to point 3. The only difference is that the lotsize between the open orders and their hedges is different. A small example: 5/10 long on pair x. Now if you have clear short signals (like a news), you could hedge with 7/10. That's quiet difficult and at the moment I am still not able to trade this live.

All in all that's a basic overview, expecially for beginners, what is possible in forex and should be some food for thoughts to improve your system.
What I recommend to test everybody is a little "trick" (not really ), which I use quiet successful since some time:
Plan your hedge with hedgeparts=openparts-1/10 (or 2/10) parts. Concrete: 5/10-1/10=4/10 hedge. So it's like point 4, only that the hedgelotsize is less than the openorders. Mathematically that's bull***, because there are only two ways: market long -> hedge nothing, market short -> hedge all. But mentally it's quiet good. If the market goes in your direction, "you are right, because you still have a part open and make profit". If it goes against you, it doesn't really matter, because it's only a 1/10 position (and with scalping 5/10 or 10/10 lots you can easily controle the DD).

:nerd:Wow, I have never written such a long post before. I hope you can understand most of it and maybe it could help you improving your strategy. If I bother you all, pls tell me and I won't post something anymore. If you are interested, feel free to discuss the things above or share your own experience with us.

Beset regards
MasterYoda

Master Yoda
Thanks for your 'take' on trading.

I too hate SL's too . . you loss that's it . . nothing more said.... you can't get it back.

I do as you and FX3 do . . do a calculated hedge.

For example, if a 0.10 sell goes against me and I see a buy opportunity I will either buy at 0.10 and close all at BE or buy at 0.10+ what ever maybe 0.11- 0.15 if I feel more confidant about the buy move and close all at BE+??


At any one time I have multiple positions open like right now I have 7 sells open for a total of 0.21 and 4 buys for 0.18 ( i trade mostly .03 and .06 because of the ea I use) It is out of balance but there was NO PA this Fri for obvious reasons

I have been adding buys all along but as the PA moves up they were hitting TP's set in the EA and closing.(this is a bad thing?? lol)

The shorts I have I know some day the PA will return and close them out. My current lowest sell is 1.30479. It was a PO anticipating the PA to go to 1.3000 area. Don't you love how the pa just touches you PO and then take off in the other direction?

Anyways, I know that the PA will return back to this area in about 2 weeks just look at the EU chart

I have also been sitting on a buy from 03-27-2012 at 1.338. That one might be a little harder to hit but all in all it is the growth of equity in your account that counts!

I started following FX3 in Jan 2012 and had a blown acct with only $276 in it and thought hey how much worse can it get.

As of today the balance is at $996 but I am $398 in DD the net or equity is $597

If I closed all right now a 116% profit in less than 3 months

I am still learning the LOM. and some times I get a little cocky with my trades but maybe that is good. I trade live for the most part and I am comfortable doing it

Demo and live trading is night and day

Currently I am learning LTT never did it before. I envision riding one of those place a sell at 1.33 and cashing out at 1.31 kind of trades
you know like 300 + pips . The problem is being up 50 60 pips and seeing pa retrace and letting those pips go in the hope that it will return back and go lower

Well Happy Easter to all

http://en.wikipedia.org/wiki/Tobin_tax

http://fxtrade.oanda.com/analysis/interest-calculator

Interest Calculator Short AUDCHF
http://fxtrade.oanda.com/analysis/interest-calculator

Interest Calculator Short AUDCAD
http://fxtrade.oanda.com/analysis/interest-calculator

If trading LTT you could added the carry trades, e.g. #936, #937, #938.

Interest Rate Calculation
http://fxtrade.oanda.com/help/polici...te-calculation

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Label:
LTT = Long/er Term Trading

Interest Calculator Long JPYHUF
http://fxtrade.oanda.com/analysis/interest-calculator

If trading LTT learn also the topic about Currency Basket
e.g.
https://fxunity.oanda.com/currency-baskets
See also #941, #942.
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Label:
LTT = Long/er Term Trading