Ok so I follow the above screen shot my question is what do we do when we are in the range that's a ton of whip saws???
regards nasap
The little nut in your head is called brain. Use it!
- #1,481
- Jun 14, 2013 11:29pm Jun 14, 2013 11:29pm
regards nasap
- #1,483
- Jun 15, 2013 12:16am Jun 15, 2013 12:16am
Just some details about this week. 25 Trades with a total gain of 655 Pip!!!
And here we go with the results of this amazing system since the beginning of May 22.
And a bit more in detail
regards nasap
And here we go with the results of this amazing system since the beginning of May 22.
And a bit more in detail
regards nasap
The little nut in your head is called brain. Use it!
- #1,487
- Jun 17, 2013 1:57am Jun 17, 2013 1:57am
The rules given to us for the system by Mihailo is to make trading as simple as possible! It's definitely clear what to do. I follow this till rule no. 5. If I follow rule no. 6, I guess there are no trades at all because almost every some pips there is another line. I will give more notice if S/R line is in accordance with round numbers, pivot or fibo levels on daily base.
I wanna show you 2 charts. For me personally the most secure trades because I have the lines in the back!
And now I'll show you another good example I completly ignored the daily pivot line and the question is: who told you the price will stop moving on that line???
For rule no. 7 counts to stay away if news are rated medium or high on the economic calendar I am using for my trading.
Finally I can say it's like driving a car. It's a routine and you have to follow the traffic rules. But there are always some unexpected situations. You must solve it well not to get in trouble!
regards nasap
I wanna show you 2 charts. For me personally the most secure trades because I have the lines in the back!
And now I'll show you another good example I completly ignored the daily pivot line and the question is: who told you the price will stop moving on that line???
For rule no. 7 counts to stay away if news are rated medium or high on the economic calendar I am using for my trading.
Finally I can say it's like driving a car. It's a routine and you have to follow the traffic rules. But there are always some unexpected situations. You must solve it well not to get in trouble!
regards nasap
The little nut in your head is called brain. Use it!
- #1,490
- Jun 17, 2013 3:20am Jun 17, 2013 3:20am
Thank you for providing the additional clarification. One last question if you don't mind.. Mihailo's manual recommends 15-20 pips for TP and 50 for SL, but I see your TPs vary from 25-35? Is this just from experience or is there some formula use? Thanks again.
Depending on their volatility and my own experiences I have the following TPs:
EURUSD = 20
USDJPY = 20
EURJPY = 25
AUDJPY = 35
NZDJPY = 35
Until now it works pretty good with this settings. So I am not focused to fetch all possible Pips of a move. Just some crumbs of the big cake is enough for me!
regards nasap
The little nut in your head is called brain. Use it!
- #1,492
- Jun 17, 2013 9:38am Jun 17, 2013 9:38am
hello nasap iam seeing your good works, keep it up. pls how do you set your sl cause iam trading this system but my problem is where to place stop loss and i have been struggling with this.
Let me explain by the chart. You sell on A with TP of 25 Pip on the blue line. The initial S/L is 50 Pip, the thick red line. Not later than at B you have a very clear buy signal. You will close your trade at this point with a S/L of 7 Pip plus spread.
regards nasap
The little nut in your head is called brain. Use it!
