aiming for 1.24878 to cap another awesome week trading commando
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Mate - you're a great inspiration. I also have an account with gkfx. If you don't mind me asking, what size are you using for every say £1000 you have?
Thought I'd post this trade from last week as its been my best RR to date, at just under 6R (with 50% off at 1:1). It was an engulfing bar entry from the 4hr chart. However, at one point the trade did go to 9R, so I'm experimenting with different ways of exiting trades. I let it run, as from looking at the weekly chart I thought it could have gone a lot further. I only moved the stop (to 79.80) after price had moved above 80.00, where I was later stopped out.
I've been reading the 'No Free Lunch but all the Free Coffee you can drink' and DIBS threads...
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nice, seems like you're using the ideas to build your own system...
I had a look at ma's for exit but prefering s/r for now...
Mate - you're a great inspiration. I also have an account with gkfx. If you don't mind me asking, what size are you using for every say £1000 you have?
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I'm using a maximum of 1% risk per trade... so 10 pip SL, £10,000 account... £10/pip..
Somewhere in the thread is LDHT's indi which works it out for you on each trade...
are you as happy with them as me? I think they're great, good mix of inst. ,tax free and fixed spreads are awesome...?
I have devoured much of this thread and do appreciate everyone's effort, and a special thanks to 60m for his patience.
This method of selecting trades looks to be quite promising in the limited backtesting I've done. Perhaps I can add a little something to this. It is not my intention to throw a curve here, but just to suggest something in addition to this trade set up which may prove to add more profit.
I've been trading another 1hr method in which the EU is the lead pair. And once the EU gives a valid signal, simultaneous entries would go in on GU, EJ, AU, NU, UCad & UChf. I don't always trade all 7 but usually trade at least 5.
If you look at other 7 pairs and the set ups are mostly not close to what you're seeing on eu, then you might abort all, or at least, some of the trades. i.e.; Quite often EU & GU are at odds during London.
Profit is taken (on all) when the first pair hits it's target. This way, by spreading around your risk, it could result in less loss and more profit.
Should this post offend 60m, by all means just say so and I will remove without question.
Thanks,
Darryl
I'm using a maximum of 1% risk per trade... so 10 pip SL, £10,000 account... £10/pip..
Somewhere in the thread is LDHT's indi which works it out for you on each trade...
are you as happy with them as me? I think they're great, good mix of inst. ,tax free and fixed spreads are awesome...?
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Ok that's awesome. I thought £1 per pip for every £1000 was quite high so I thought 10p per point would be safer - atleast to test the water. Might give the £3 per pip on my £3000 account a shot. How many pairs do you usually trade, on average, per day?
I quite like gkfx. I used to be with alpari but I wanted a metatrader sb dealer ( it was gonna happen sooner or later). Can't complain. They allow us to deal with commodities and indices etc. So with your method, even more opportunity to make money!!
Ok that's awesome. I thought £1 per pip for every £1000 was quite high so I thought 10p per point would be safer - atleast to test the water. Might give the £3 per pip on my £3000 account a shot. How many pairs do you usually trade, on average, per day?
I quite like gkfx. I used to be with alpari but I wanted a metatrader sb dealer ( it was gonna happen sooner or later). Can't complain. They allow us to deal with commodities and indices etc. So with your method, even more opportunity to make money!!
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number of pairs depends on the TF and market conditions..
Right now 'm trading mainly commando entry on m15, so i have 2 dollar crosses, 1 yen, 1 commodity... thats plenty on m15...
But with anything, find what feels right for you...
