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Trading Made Simple

  • #34,061
  • Mar 26, 2014 6:43pm Mar 26, 2014 6:43pm
Quoting pundit78
{quote} I wish It doesn't hit BE.
I had to evolve for the crazy market the last few days. So i have cave-manager close half at 25 pips and the rest moves to break-even +1 and trails.
MAY THE PIPS BE WITH YOU!
  • #34,062
  • Mar 26, 2014 7:04pm Mar 26, 2014 7:04pm
aud pairs made a move. Continue trend?
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Everything you can imagine, is real - Pablo Picasso
  • #34,063
  • Mar 26, 2014 7:05pm Mar 26, 2014 7:05pm
i am short on gbp/jpy. hope it hits my TP of 50 pips
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Come tomorrow, I'll wake up new
  • #34,064
  • Mar 26, 2014 7:11pm Mar 26, 2014 7:11pm
Quoting Zoopots
{quote} MartC, Let me echo Emmanuel's comments at 33,902. I got in FOREX trading in 2006 with a $3000 purchase hyped up at a local Red Lion presentation. Several systems, meetings, webinars and conferences later I realized the problem was me...not the market. It clicked when my wife said "Why do you keep switching systems"...and I had no answer that in reality was an excuse for my short comings as a trader. I eventually decided 1. How I wanted to trade, 2. When I wanted to trade and 3. Why I wanted to trade. Then I forced myself (and it was painful,...
just got home from a long day of work.... saw this and thought "perfect." ... newbies ----- etch this post into your brain.

Zoo... "A tip of the Hat"

Seereye
Pip what you see; See what you pip!
  • #34,065
  • Mar 26, 2014 7:15pm Mar 26, 2014 7:15pm
No entries for me. I'll be checking again in 8hrs.

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  • #34,066
  • Mar 26, 2014 7:36pm Mar 26, 2014 7:36pm
Quoting gsbharaj
i am short on gbp/jpy. hope it hits my TP of 50 pips {image}
gsbharaj,

I hope you don't mind a couple of observations on your trade. I assume this is an H4 chart and I tried to read the actual values of your trade parameters and it appears as though you went short around 168.88; S/L about 169.68 and TP near 168.38.

That means you're hoping to make 50 pips but risking 80! It jumps out at you when you see your S/L line further from your entry line than the TP line is. These kinds of R/R will allow most accounts to bleed slowly to death and discourage the trader. I've been there and done that. Guard your account with good set-ups.

Hope this makes sense.
  • #34,067
  • Edited 8:08pm Mar 26, 2014 7:50pm | Edited 8:08pm
Quoting GilR
Money managment! On average how many pips do you need to accumulate to add 2% to your account?
Tell me your size of position and account value and I'll be able to answer that.

for a $5000 account, 2% would be $100. Using the EURUSD as an example, you'd need to profit 10 standard lot pips, 100 mini lot pips or 1000 micro lot pips to increase your account by 2%. Also, not all pairs have the same dollar value per pip.

See: www.investing.com/forex-tools/pip-calculator

Make sense?
  • #34,068
  • Mar 26, 2014 7:52pm Mar 26, 2014 7:52pm
Dear Emmanuel,Bizzle & other H4 trade friends,

I have away from this thread & Forex business last couple of week & i have to travel my wife's house because of my new born baby.There was no internet facility.Now I have come back but i can not trade h1 time frame now because of my new job.So I want to shift H4 time frame & i want to back test some pairs.
Pls give me your help by answering below questions.

1) What are the most suitable currency pairs to trade on H4 by using TMS method.(according to the current market situation)
2) When you enter trade & it not go to your side & change APB color Opposite direction & closed.Do you exit from the trade or wait till it hit SL?
3)Do you enter H4 trade any time it show a new trade or Do you trade as BIG e did (10 pm to 6 am pacific)
4)When we use H4 what is the most suitable pip amount to set Cave manager to Amend SL to BE.
5)When we use H4 what is the most Suitable method to save my Profit.Because I trade 0.02 lot & i can not use Multiple exit method.

And also pls advise me to good method to back test which you did as a beginner of h4 trade.

Thanks
Helanka
Helanka
  • #34,069
  • Mar 26, 2014 8:39pm Mar 26, 2014 8:39pm
GBPUSD TDI starting to hook over on 4H. Might give signal on 4/8am candle. 100/200 SMA's above.
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  • #34,070
  • Mar 26, 2014 8:42pm Mar 26, 2014 8:42pm
Thanks for the heads up hostway. Interesting how ours look very different. It's a nice level with EMA and 1.6600 confluence. Ideally I'd love it to go test 1.6600 and bounce.

Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #34,071
  • Edited 9:00pm Mar 26, 2014 8:46pm | Edited 9:00pm
Quoting Direwolf
Thanks for the heads up hostway. Interesting how ours look very different. It's a nice level with EMA and 1.6600 confluence. Ideally I'd love it to go test 1.6600 and bounce. {image}
wow, yes it does. GMT server candles. My FXDD MT4 chart looks more like yours. Yes it could bounce and continue up but it was looking a little over bought on the TDI. UK retail sales at 9.30 this morning.
  • #34,072
  • Mar 26, 2014 9:09pm Mar 26, 2014 9:09pm
update: taken out of UJ at BE...... sigh i knew i should have taken the 20pips..
Daniel
  • #34,073
  • Mar 26, 2014 9:26pm Mar 26, 2014 9:26pm
Whats EJ up to.....cleaning the SL?
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Sad i'm not trying to understand PA
  • #34,074
  • Mar 26, 2014 9:30pm Mar 26, 2014 9:30pm
NU is a pair I'm keeping an eye on - coming up on pretty solid resistant area (green line) ; top of fib (0.0) and coming up on 3rd time to give it a try. TDI is above 68, Stoch over bought. Might be a nice little counter or "to the moon Alice." Still working on my PA (candle) readings, but too early to tell for me, at this time..

http://charts.mql5.com/4/277/nzdusd-h4-ibfx-inc.png
Pip what you see; See what you pip!
  • #34,075
  • Mar 26, 2014 10:07pm Mar 26, 2014 10:07pm
Quoting SeerEye
NU is a pair I'm keeping an eye on - coming up on pretty solid resistant area (green line) ; top of fib (0.0) and coming up on 3rd time to give it a try. TDI is above 68, Stoch over bought. Might be a nice little counter or "to the moon Alice." Still working on my PA (candle) readings, but too early to tell for me, at this time.. {image}

This week we see very strong moving pairs AUD NZD and CAD ... all three are commodity currencies and are in sync.

Kiwi going for April High, than we shall see how the market reacts then maybe Feb swing level and high.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,076
  • Mar 26, 2014 10:13pm Mar 26, 2014 10:13pm
Quoting GilR
Money managment! On average how many pips do you need to accumulate to add 2% to your account?

one R will add 2% each time ... when I risk 2% per currency pair traded.

it is position sizing strategy I use.

different currency pair has different $value per pip.
50pips loss EURUSD can hurt.
50pips loss EURGBP can hurt much more.
when we do not use position sizing.

Inserted Video
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,077
  • Mar 26, 2014 10:17pm Mar 26, 2014 10:17pm
Quoting bdnfx86
{quote} I think it would have more to do w/ position size than amounts of pips.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,078
  • Mar 26, 2014 10:19pm Mar 26, 2014 10:19pm
Quoting Zoopots
{quote} Tell me your size of position and account value and I'll be able to answer that. for a $5000 account, 2% would be $100. Using the EURUSD as an example, you'd need to profit 10 standard lot pips, 100 mini lot pips or 1000 micro lot pips to increase your account by 2%. Also, not all pairs have the same dollar value per pip. See: www.investing.com/forex-tools/pip-calculator Make sense?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,079
  • Mar 26, 2014 10:35pm Mar 26, 2014 10:35pm
[quote=emmanuel7788;7366538]{quote} This week we see very strong moving pairs AUD NZD and CAD ... all three are commodity currencies and are in sync. Kiwi going for April High, than we shall see how the market reacts then maybe Feb swing level and high.

Nice
Pip what you see; See what you pip!
  • #34,080
  • Mar 26, 2014 10:46pm Mar 26, 2014 10:46pm
Quoting emmanuel7788
{quote} one R will add 2% each time ... when I risk 2% per currency pair traded. it is position sizing strategy I use. different currency pair has different $value per pip. 50pips loss EURUSD can hurt. 50pips loss EURGBP can hurt much more. when we do not use position sizing. https://www.youtube.com/watch?v=JFuF6M7z1jg

Thank you for video
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