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  • #5,541
  • Jun 25, 2014 8:50am Jun 25, 2014 8:50am
Quoting jmflukeiii
{quote} I apologize, I didn't mean to be offensive. I'm simply trying to clarify how it works. It doesn't matter if your spread is floating; your profit target will be filled only when the bid or ask reaches the target (depending on if you are long or short). So your profit target will always be 5 pips regardless of spread, regardless of whether it is floating or not, regardless of anything. And, yes, as I wrote, commission is an expense that is not factored into the 5 pips profit target, so if you want to cover it, you must add it to your profit...
it's all cool brother no need for apology..

read my last post please and tell me if I am wrong.. so i can learn something today..

when spread is floating and gets widen it reflects the ask and bid..
Passion, Persist, Patience, Protect
  • #5,542
  • Jun 25, 2014 8:52am Jun 25, 2014 8:52am
Quoting FXEmpire
{quote} if you doing fix spread.. if it's floating you can't be sure about it.. you may get trigger at .5 spread.. but by target time out at .9.. you come short .4.. as eg.
Give someone else a chance to speak,your taking over again
  • #5,543
  • Jun 25, 2014 8:54am Jun 25, 2014 8:54am
Quoting FXEmpire
{quote} it's all cool brother no need for apology.. read my last post please and tell me if I am wrong.. so i can learn something today..
I see what you are saying - yes, the limit order [used as the profit target] could be triggered as the bid or ask hits it, and during transmission time from your broker's mt4 server to whomever is filling the order on the other side, that same bid or ask could change. However, I think we would refer to this as slippage. So perhaps we were just discussing different things - if slippage is a concern and you want to try to ensure that you will have 5 pips + whatever slippage may occur, you would want to add some.

However, slippage works both ways - I was filled 1 pip better on my GA short this morning (so ended up with 6 pips) due the speed of the market as it hit my buy limit (profit target). So I generally don't concern myself with slippage; perhaps others have different opinions.
Small disciplines repeated with consistency lead to great achievements.
  • #5,544
  • Jun 25, 2014 8:56am Jun 25, 2014 8:56am
Quoting HannesJoub
{quote} That is the risk of the system I think. Also, I think that the peeps are far to concerned with getting 1% / trade 2% / day exactly...I was / am happy to set TP to 5 pips and pay the commission, and take what the market gives me. I know that the cost of commission will become considerable over time, but how considerable will BE trades become if I miss TP by the added .5 pip of my commission should I try and get that out of the market? H
Quite considerable, in the last couple of weeks at least. I have been doing exactly that and have been taken out of a lot trades at "break even", which actually means -$5.50 per lot. It really adds up, and I am struggling to break even.
  • #5,545
  • Edited 9:19am Jun 25, 2014 9:01am | Edited 9:19am
Quoting jmflukeiii
{quote} I see what you are saying - yes, the limit order [used as the profit target] could be triggered as the bid or ask hits it, and during transmission time from your broker's mt4 server to whomever is filling the order on the other side, that same bid or ask could change. However, I think we would refer to this as slippage. So perhaps we were just discussing different things - if slippage is a concern and you want to try to ensure that you will have 5 pips + whatever slippage may occur, you would want to add some. However, slippage works both...

ok good, so anyhow it's safe to say it is more of a cost than benefit when dealing with blood sucking brokers, lol..
now jimi IMHO, the small floating range (0.50 up down) of spread is pretty normal and it does it all the time on the ecn ndd, that small movement is not slippage.. but anything higher like what we see in news time goes to 3-5 or even 20 i have seen.
Passion, Persist, Patience, Protect
  • #5,546
  • Jun 25, 2014 9:05am Jun 25, 2014 9:05am
Quoting FOURX
{quote} Give someone else a chance to speak,your taking over again

Udine and this threads sake I just avoid this a=hole..
Passion, Persist, Patience, Protect
  • #5,547
  • Jun 25, 2014 9:07am Jun 25, 2014 9:07am
Quoting FXEmpire
{quote} Udine and this threads sake I just avoid this a=hole..
you're a suckholer
  • #5,548
  • Jun 25, 2014 9:13am Jun 25, 2014 9:13am
Regarding this talk about spread,commissions and cost:

We cannot avoid those things,and even if we had spread like 0.1 pip will have to pay commission anyway which is average 7$ per lot.

So we have 2 conclusion there:
1. To leave everything as it is (+5 pips, -10 pips) and than profit is 0.85% per trade by risking 2.15% per trade
2. To change Tp and SL lvls to have 1% on winning (more tp pips) trade and 2% on losing trade (less SL pips).In that case we can have more BE trades but much better RRR

I am testing this method around 3 weeks now and my opinion is that this could be be profitable in longer runs but in that case you MUST take bonus trades like Udine.

Why?
Because when market are trendy and have good conditions we can close day with +4%,+6%,+8% to create freedom when bad day (like today) comes.At least 1 day in a week will be hard and choppy to make +10 easily.

Example:
If you stick to rules like me and close day when you have 2 winners after few days when choppy day comes in you will leave all or almost all profit at table but if you choose wisely bonus trades at good days you can still be in plus +2% each day historically!

If you choose to increase lot size after winning trade bear in mind that when you are in 2 trades (both with same lot size) your account will drop 2% first trade but more on second one because balance is smaller than right?.... in that case if you have commissions and bad spread adds are strongly against you,so at the end you need to have high win rate to be in plus and back those losing trades (3 winners or even 4 winners to cover 1 loser) and you still need to think about 2 winning trades to hit daily target because tomorow could be hard day or day full of news which affect on mindset of trader.

So my final conclusion is that:
1.Bonus trades need to be taken
2. Small adjust to TP and SL just to cover commission and this strategy can be good in long runs but in counter you will be at BE or at small loss/profit if you have around 70% succes (need more to have good %)

Anyway i will stop use this method for now because i lost all profit last 8 day just in one day but will continue to follow this thread!

Wish you many green pips,

Highest regards!
  • #5,549
  • Jun 25, 2014 9:14am Jun 25, 2014 9:14am
Quoting FOURX
{quote} you're a suckholer
"suckholer" ?
  • #5,550
  • Jun 25, 2014 9:17am Jun 25, 2014 9:17am
Quoting FOURX
{quote} you're a suckholer

grow up... your first post here already made a wrong impression.. so what are you trying to prove here???

You want to be the second person on IGNORE ???

Udine
Sleep less, live fast, as it aint gonna last
  • #5,551
  • Jun 25, 2014 9:17am Jun 25, 2014 9:17am
Quoting Zokynho
Regarding this talk about spread,commissions and cost: We cannot avoid those things,and even if we had spread like 0.1 pip will have to pay commission anyway which is average 7$ per lot. So we have 2 conclusion there: 1. To leave everything as it is (+5 pips, -10 pips) and than profit is 0.85% per trade by risking 2.15% per trade 2. To change Tp and SL lvls to have 1% on winning (more tp pips) trade and 2% on losing trade (less SL pips).In that case we can have more BE trades but much better RRR I am testing this method around 3 weeks now and my...
So, do I understand you correctly?

When you trade and it is raining pips (last week), take everything that you can.

When you encounter a tough day, like today, get out & stay out

Add commissions to your TP

That about cover it?

H
  • #5,552
  • Jun 25, 2014 9:20am Jun 25, 2014 9:20am
Hi Udine ....my MP Clock still invisible......double delete did not work...any other suggestions?...thank you in advance..:-)
  • #5,553
  • Jun 25, 2014 9:24am Jun 25, 2014 9:24am
Quoting Udine
{quote} grow up... your first post here already made a wrong impression.. so what are you trying to prove here??? You want to be the second person on IGNORE ??? Udine
i don't know what his beef is with me, don't know him from Adam other than have avoided is numerous dumb hostile comments about me..
it sure shows one thing... frustrated trade for years..

ohh and two.. obviously some serious sexual frustration, lol
Passion, Persist, Patience, Protect
  • #5,554
  • Jun 25, 2014 9:25am Jun 25, 2014 9:25am
EJ : short @ 138.700 + pending long @ 138.800
GJ : BE SL @ 192.891- was short @ 172.900
  • #5,555
  • Jun 25, 2014 9:25am Jun 25, 2014 9:25am
GJ sell @ 172.900 -> trail stop
  • #5,556
  • Jun 25, 2014 9:27am Jun 25, 2014 9:27am
Quoting HannesJoub
{quote} So, do I understand you correctly? When you trade and it is raining pips (last week), take everything that you can. When you encounter a tough day, like today, get out & stay out Add commissions to your TP That about cover it? H
I think that in that case bonus trades are required to create mental and financial freedom for bad days!
Every day i close day with success in just 1,5-2 hours trading London on average and close platform for that day,but today when it is shitty market i lost everything and now need again all this pips to recover account to be in profit again!

If I took 2 bonus trades on average in NY (opening of sessions are the best for this method) now i would have double amount of profit and after today would cut half but still in good profit!

We don't know when those days come but if we prepare to that it will be much easier for trading both (mental and financial)!

If Udine stick to rules today (and i am sure that he is) he is in negative today but he create good % this week with bonus trades and now he is ok with losses!

Just my thought and my view of this method!

Regards!
  • #5,557
  • Jun 25, 2014 9:27am Jun 25, 2014 9:27am
Udine, did you have a profitable day? I see others claiming they had difficult days and therefore quitting the system.
Small disciplines repeated with consistency lead to great achievements.
  • #5,558
  • Jun 25, 2014 9:28am Jun 25, 2014 9:28am
hi guys i install the EA but is not opening any trades this is how i have the settings. can somebody help?
http://my.jetscreenshot.com/demo/20140625-bb82-33kb
  • #5,559
  • Jun 25, 2014 9:29am Jun 25, 2014 9:29am
Quoting FXEmpire
{quote} i don't know what his beef is with me, don't know him from Adam other than have avoided is numerous dumb hostile comments about me.. it sure shows one thing... frustrated trade for years.. ohh and two.. obviously some serious sexual frustration, lol

relax, its not worth to get your blood pressure up for some posts...there are simply some people who focus more on forums than on forex trading..

I am during the weekend soccer referee, so I will act as referee here as well..

Udine
Sleep less, live fast, as it aint gonna last
  • #5,560
  • Jun 25, 2014 9:30am Jun 25, 2014 9:30am
Quoting jmflukeiii
Udine, did you have a profitable day? I see others claiming they had difficult days and therefore quitting the system.

When I was back to +2 % I simply stopped trading...

will do the same for the rest of the week

Udine
Sleep less, live fast, as it aint gonna last
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