OK, for my 3rd trade of the day... CADJPY long. After what looked like a break out, I finally got my pullback. 
Entry Price - 95.990
Stop @ 95.490
Target @ 96.500
Entry Price - 95.990
Stop @ 95.490
Target @ 96.500
OK so that was a great day.
Took 3 trades today -
1st was a GBPAUD short for +100.2 pips.
2nd was a EURAUD short for +43.5 pips.
3rd was a CADJPY long for -1.8 pips.
End of day result on my account comes out to +10.3%.
Not too shabby.
Cheers and Cya tomorrow morning bright and early all!
~fighterdude
Here are the screens baby!
Took 3 trades today -
1st was a GBPAUD short for +100.2 pips.
2nd was a EURAUD short for +43.5 pips.
3rd was a CADJPY long for -1.8 pips.
End of day result on my account comes out to +10.3%.
Not too shabby.
Cheers and Cya tomorrow morning bright and early all!
~fighterdude
Here are the screens baby!
- #25
- Jul 9, 2013 6:04pm Jul 9, 2013 6:04pm
- Joined Apr 2010 | Status: happy as a pig in shit. | 1,486 Posts
nice refreshing thread fighterdude. A little bit explanation of why you enter each trade would be good. I like the early exits if trade is going against you. without going to much into you strategy can you shed some light on your exits. good luck and good pips
To be perfectly honest, I use a stochastic oscillator set to standard 5,3,3 settings for my exits. But it is the context in which I make my decisions which allows for the low pip losses. Always make sure you are trading with the trend and then it wont be that difficult to spot the appropriate exits and entries. I know that probably sounds a little redundant and overly simplistic since that is what everyone says but the key is knowing how to tell when a trend is pausing or OVER.
I use a couple momentum indicators set to different settings, one for short term momentum and one for long term momentum, that way I dont enter into a trend which is beginning to slow or reverse because I can see when the short term momentum is pulling back against the long term.
Ultimately, as far as pip win to loss is concerned, your results can only be as good as your system of filters which keep you from entering the market when the current has turned against you.
Hope this gives you some ideas.
Cheers and happy trades to you.
~fighterdude
Good morning all!
Today is setting up to be an interesting situation. I will be actively looking for trades on the following pairs (this little exercise is key to filtering out *most* of your failing setups) -
SHORT -
EURUSD
EURJPY (being cautious)
GBPJPY (being cautious)
GBPAUD
EURAUD
EURCAD
GBPCAD
GBPNZD
EURNZD
CHFJPY
LONG -
GOLD
USDCHF
NZDUSD
GBPCHF
AUDCAD
CADJPY
NZDCHF
CADCHF
AUDCHF
This list may change part of the way through the day because there are a few pairs which are just about to start moving the other way and this would either disqualify or qualify them for being on my little list, so as that happens I will post updates.
OK, lets see what we can catch...
Cheers... happy trades... and filter, filter, filter...
~fighterdude
Today is setting up to be an interesting situation. I will be actively looking for trades on the following pairs (this little exercise is key to filtering out *most* of your failing setups) -
SHORT -
EURUSD
EURJPY (being cautious)
GBPJPY (being cautious)
GBPAUD
EURAUD
EURCAD
GBPCAD
GBPNZD
EURNZD
CHFJPY
LONG -
GOLD
USDCHF
NZDUSD
GBPCHF
AUDCAD
CADJPY
NZDCHF
CADCHF
AUDCHF
This list may change part of the way through the day because there are a few pairs which are just about to start moving the other way and this would either disqualify or qualify them for being on my little list, so as that happens I will post updates.
OK, lets see what we can catch...
Cheers... happy trades... and filter, filter, filter...
~fighterdude
{quote} I used to make these kind of lists when I first started! Doubled my account in a week.:-) Not sure why I stopped doing it but I will definitely now start doing it again! I just created a trend list myself right now and when comparing it to yours, 9/10 where the same as yours!:-)(I have nzd/usd as short) I used the 4hr chart, what did you use?
I use a combination of 4hr/1hr but on my 4hr chart I have some Multi time frame tools which give me a look at daily moving averages and daily stochastics.
Glad that you are getting some ideas from this thread!
Cheers!
~fighterdude