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Trading Made Simple

  • #19,161
  • May 14, 2013 3:23am May 14, 2013 3:23am
how many pips are you guys typically aiming for ? how many pips should TP be activated at ?
  • #19,162
  • May 14, 2013 3:24am May 14, 2013 3:24am
I opend my short on EU H4 at 1.29989 and placed my SL on 1.30250, right below the 38.2% Fib and the Daily SR at 1.30350, because i didn't want to risk more points. And for that i was punished and taken out from that nasty pull back at 1.30275. Now he is loughing at me and going down. I have a stronf temptation to short it again but I hesitate. What do you think I should do. Emotions or Logig?
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  • #19,163
  • May 14, 2013 3:27am May 14, 2013 3:27am
Quoting rxJano
how many pips are you guys typically aiming for ? how many pips should TP be activated at ?
I am still on early stages of traiding, so I am trying simplify everything, including MM, in my plan is to aim R/R=1. To calculate SL=TP I am using double value of ATR7 for trading pair.
JacekPreserve Precious Capital
  • #19,164
  • May 14, 2013 3:35am May 14, 2013 3:35am
Quoting cristiansan
Just saw an POP-GUN, EU H4. Good position: just below W pivot and M pivot and below 50%Fib of previous week. Entry with half position, 50 pips SL. Waiting for retracements to trigger the second half position. {image}
We're on board... let see
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  • #19,165
  • May 14, 2013 3:37am May 14, 2013 3:37am
Don't play with Euro today...
my only trade today
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JacekPreserve Precious Capital
  • #19,166
  • May 14, 2013 3:52am May 14, 2013 3:52am
Quoting Fame of me
{quote} Thats my entry which i took
Moooorning..

in the night my trade reach my tp , niceeee morning
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  • #19,167
  • May 14, 2013 4:01am May 14, 2013 4:01am
Make my entry on chfj, first time after a while that i trade this pair. i will see. its not a big sl
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  • #19,168
  • May 14, 2013 4:10am May 14, 2013 4:10am
Quoting gegeorge
I opend my short on EU H4 at 1.29989 and placed my SL on 1.30250, right below the 38.2% Fib and the Daily SR at 1.30350, because i didn't want to risk more points. And for that i was punished and taken out from that nasty pull back at 1.30275. Now he is loughing at me and going down. I have a stronf temptation to short it again but I hesitate. What do you think I should do. Emotions or Logig? {image}
Your SL should have been placed above the W and M pivots, or better IMO, above the consolidation area.
Better reduce the risk using MM, than setting a very tight SL (in your case below the historical S/R).
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  • #19,169
  • May 14, 2013 4:10am May 14, 2013 4:10am
Quoting gegeorge
I opend my short on EU H4 at 1.29989 and placed my SL on 1.30250, right below the 38.2% Fib and the Daily SR at 1.30350, because i didn't want to risk more points. And for that i was punished and taken out from that nasty pull back at 1.30275. Now he is loughing at me and going down. I have a stronf temptation to short it again but I hesitate. What do you think I should do. Emotions or Logig? {image}
According to the rules your entry was to soon. There's no TDI cross yet. I would wait until next candle, if there is a TDI cross I would short again. I'm also in this one but opened my short on the break of the mother bar of 2 IB on the H4.
  • #19,170
  • May 14, 2013 4:23am May 14, 2013 4:23am
Quoting cristiansan
{quote} Your SL should have been placed above the W and M pivots, or better IMO, above the consolidation area. Better reduce the risk using MM, than setting a very tight SL (in your case below the historical S/R). {image}
I found out the HARD WAY. Could please explain IMO and MM?
  • #19,171
  • May 14, 2013 4:32am May 14, 2013 4:32am
Quoting gegeorge
{quote} I found out the HARD WAY. Could please explain IMO and MM?
Attached File(s)
File Type: docx Acronyms.docx   20 KB | 514 downloads


hope it might help you!
JacekPreserve Precious Capital
  • #19,172
  • May 14, 2013 4:37am May 14, 2013 4:37am
Quoting Jackub
{quote} {file} hope it might help you!

Thanks Jackub, that really helped reading your post again and make sense
  • #19,173
  • May 14, 2013 4:38am May 14, 2013 4:38am
Quoting gegeorge
{quote} I found out the HARD WAY. Could please explain IMO and MM?
IMO - in my opinion
MM - money management

PS: Thanks Jackub!
  • #19,174
  • May 14, 2013 8:01am May 14, 2013 8:01am
I just closed my trade for a loss. And it was a textbook entry.

Sorry, but this system does not have a good probability of success. If you've won so far, good for you, but its only due to luck.

This system already has VERY limited and rare entries, and even when you find one, there is still a good chance it will go against you.

I trusted the method, and the only thing my trust has brough me is a small number of wins, and many more losses.
  • #19,175
  • May 14, 2013 8:07am May 14, 2013 8:07am
Quoting Tok
I just closed my trade for a loss. And it was a textbook entry. Sorry, but this system does not have a good probability of success. If you've won so far, good for you, but its only due to luck. This system already has VERY limited and rare entries, and even when you find one, there is still a good chance it will go against you. I trusted the method, and the only thing my trust has brough me is a small number of wins, and many more losses.
You will do as you like, but can you tell me how many trades you have taken?
JacekPreserve Precious Capital
  • #19,176
  • May 14, 2013 8:11am May 14, 2013 8:11am
Quoting Jackub
{quote} You will do as you like, but can you tell me how many trades you have taken?
I've honestly lost count, but it is a decent amount. I have taken advantage of any good entry I have come across, going WITH the trend. It just doesn't work.

Maybe on a 1H chart people will have more success. Or not. Who knows.
  • #19,177
  • May 14, 2013 8:13am May 14, 2013 8:13am
Quoting Tok
I just closed my trade for a loss. And it was a textbook entry. Sorry, but this system does not have a good probability of success. If you've won so far, good for you, but its only due to luck. This system already has VERY limited and rare entries, and even when you find one, there is still a good chance it will go against you. I trusted the method, and the only thing my trust has brough me is a small number of wins, and many more losses.
Just check my journal, for april and may, so far 66 trades taken, 46 was profitable, it makes 69% winnig rate. In 20 lost trades 16 was definitely my fault.
And I am not champion here, not even close to champion.
JacekPreserve Precious Capital
  • #19,178
  • May 14, 2013 8:19am May 14, 2013 8:19am
Quoting Jackub
{quote} Just check my journal, for april and may, so far 66 trades taken, 46 was profitable, it makes 69% winnig rate. In 20 lost trades 16 was definitely my fault. And I am not champion here, not even close to champion.
You may have been deviating from the rules of the system or morphing to suit yourself better. Or simply, just plain luck.

Either way, following the rules of a system, the same people should at least profit nearly as much as each other. This system has had too many discrepancies. It plain and simple, is not an accurate system.
  • #19,179
  • May 14, 2013 8:27am May 14, 2013 8:27am
Quoting Tok
{quote} Either way, following the rules of a system, the same people should at least profit nearly as much as each other..
I can not agree with this, this is absolutely not true, if what you say is true, everyone in the world should be a winner.
Bets Regards
JacekPreserve Precious Capital
  • #19,180
  • May 14, 2013 8:58am May 14, 2013 8:58am
Most of us get into complicated systems and get ourselves into the confusion status. Thus, even i believe in the fact that the trading should be kept as much simple as possible so that the traders can make some good decisions regarding the market and trade well for profits.
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