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my system of 20 pips

  • #761
  • Oct 9, 2014 4:49am Oct 9, 2014 4:49am
Quoting vlady1974
FXAction, can I ask how far you usually place your SL is from your entries? Many thanks
Depends on the tf on which i did my analysis. These entries were late but usually swing low of whatever tf i use 4 analysis.
  • #762
  • Oct 9, 2014 4:53am Oct 9, 2014 4:53am
Quoting FXAction
{quote} Depends on the tf on which i did my analysis. These entries were late but usually swing low of whatever tf i use 4 analysis.
Do you add the drawdown as part of your risk calculation?

One of the biggest trading issues I battle with on a personal level is overtrading and trade size management.
About 4 years ago, I must have blown 5x (ie. refunded) on an account. The funny thing is that I would score 300-400+ pips... and then withing days, gone.
Now, I whilst I don't blow accounts.... i find that I can score 500+ pips but for some reason, I still have about 100 pips that I would classify as dangerous on trade size.

Do you have any tips or advice on this?
A pip is only worth it if you know how much you risked to earn it
  • #763
  • Oct 9, 2014 4:54am Oct 9, 2014 4:54am
Quoting vlady1974
{quote} I think firstly, if you get the idea or principle - then you are able to adapt it to your personal biases. Often, we mimicry is the best way to learn for mechanical things where repetition eventually gives understanding. So as children growing to adults, we learn how to tie shoelaces, we do arithmetic, we learn to drive cars, we learn how to work iPhones. But when we ask more esoteric questions, "How Does One Become Successful" the answer from successful people is harder to implement. This is because instructions do not reveal all the biases...
That is such a good answer thanks so much!. I believe I can take what I have learned here and in other threads and be profitable in the end. I just thought I was missing something here but realise actually i have to find my own trigger or entry method and make it work thanks
  • #764
  • Oct 9, 2014 5:03am Oct 9, 2014 5:03am
Quoting haircut
{quote} That is such a good answer thanks so much!. I believe I can take what I have learned here and in other threads and be profitable in the end. I just thought I was missing something here but realise actually i have to find my own trigger or entry method and make it work thanks
Good. But take care with that last statement of intent.
You have to find your own trigger based on this thread's principles!

In the early pages, it is clear that entries are based on essentially a breakout.

Long
A = a level seen on previous bars, filtered or validated.
Price moves lower and does what it has to.
A is triggered as price moved up from below.

If you ignore the WHY, the principle underlying the entry price is that it's a price provided by previous bars.
Hence, there are no indicators for this. You can read this on a naked chart.

The WHY is where additional skills are needed. Why does the unknown B turning point happen?
One hint (which has already been revealed) was something I took quite a few hours to figure out. It was to do with WHEN she did these trades.
That is also provides the WHY.... you can't just do this at 2:45am Asian time or London or New York time.
The other hint is price action - I hate this term, but there's enough in the first few pages to get you going.
A pip is only worth it if you know how much you risked to earn it
  • #765
  • Oct 9, 2014 5:12am Oct 9, 2014 5:12am
The channel impeding movement in all the pairs i entered, I just saw it now. I will hold my positions, but if there is anybody that entered the trade with me. Please cautiously manage your positions. What I traded has never failed before and I hope it will not fail now. More GreenPips To Your Elbow
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  • #766
  • Oct 9, 2014 5:29am Oct 9, 2014 5:29am
Quoting vlady1974
{quote} Do you add the drawdown as part of your risk calculation? One of the biggest trading issues I battle with on a personal level is overtrading and trade size management. About 4 years ago, I must have blown 5x (ie. refunded) on an account. The funny thing is that I would score 300-400+ pips... and then withing days, gone. Now, I whilst I don't blow accounts.... i find that I can score 500+ pips but for some reason, I still have about 100 pips that I would classify as dangerous on trade size. Do you have any tips or advice on this?
If you have noticed, My normal entries have little or no draw down. But In case i do have drawdown i will always know the reason, possibly a retest of s/r, so i dont give a damn. But in the case of present positions, they are late entries and if I have seen the channel, I would have taken profit on it and that would have been a totally risk-free trading.

As I said earlier on, the best time to take these positions would have been at the close of the daily candle. Targeting a minimum of 1:1 RR. More GreenPips To Your Elbows
  • #767
  • Oct 9, 2014 5:43am Oct 9, 2014 5:43am
4 those of you who re buying ej seems i am noticing a bearish three tap pattern
  • #768
  • Oct 9, 2014 5:56am Oct 9, 2014 5:56am
yes FXAction ur EJ call is right, don't know why but its just going down so fast..it may come to the original breakout according to our mentor.


Regards
  • #769
  • Oct 9, 2014 6:29am Oct 9, 2014 6:29am
Quoting dennis4u15
yes FXAction ur EJ call is right, don't know why but its just going down so fast..it may come to the original breakout according to our mentor. Regards
I am not on ej bc of the 4h channel. It has caused a 3 tap formation for the down side. But to be clear, I never gave an ej call today.
  • #770
  • Oct 9, 2014 6:55am Oct 9, 2014 6:55am
I am glad you did not listen to that idiot who asked you to stop posting your trades.
Although I am not copying each of your trades, I follow all the trades which it makes it a great way to learn.
Keep it going and thanks.
  • #771
  • Oct 9, 2014 7:05am Oct 9, 2014 7:05am
The mkt is very dull, so i checked and discovered news release in 30 min. In my setups news is my friend , not the enermy
  • #772
  • Oct 9, 2014 7:14am Oct 9, 2014 7:14am
Quoting safhammer
I am glad you did not listen to that idiot who asked you to stop posting your trades. Although I am not copying each of your trades, I follow all the trades which it makes it a great way to learn. Keep it going and thanks.
Hi Westham where have u been? i liked the way Alldyce dispatched Knrenapp. congrats.
  • #773
  • Oct 9, 2014 7:28am Oct 9, 2014 7:28am
Quoting FXAction
{quote} Hi Westham where have u been? i liked the way Alldyce dispatched Knrenapp. congrats.
I have been watching and learning quietly. Still a long way to go for me but I haven't given up.
The Hammers are doing great despite our manager.
Aah yes, nice to get one over old 'Arry.
Keep your posts going. I keep a keen eye on yours.
Regards
COYI
  • #774
  • Oct 9, 2014 8:15am Oct 9, 2014 8:15am
Wath is happening shows that we must be very wry of the channel, especially of the higher time frame
  • #775
  • Oct 9, 2014 8:31am Oct 9, 2014 8:31am
hi guys,

Nzd/Jpy has a good hook and looking good for short for awhile.

Regards
  • #776
  • Oct 9, 2014 9:08am Oct 9, 2014 9:08am
FXAction, thank you so much for sharing! I have question but I know your box is full so Im hestitate at the moment Nice to see Vlady is posting here too and learned so much from her posts. Thanks to catextract too for this great thread.
  • #777
  • Oct 9, 2014 9:30am Oct 9, 2014 9:30am
Quoting vlady1974
I have a Long EU triggered at 2761 I have an Long order for AU at 8883 I have open Longs for EU and EJ at 2780 (this was a mistake but I kept it open) and 137.70 These are underwater, but I am expecting more upside at 3X the drawdown risk.
Took profit on the triggered.
The mistakes I let the BE (-20 combined) take them out as I want to set this strategy as mechanical as possible - warts and all.
A pip is only worth it if you know how much you risked to earn it
  • #778
  • Oct 9, 2014 9:53am Oct 9, 2014 9:53am
Quoting mario777
FXAction, thank you so much for sharing! I have question but I know your box is full so Im hestitate at the moment Nice to see Vlady is posting here too and learned so much from her posts. Thanks to catextract too for this great thread.
You are welcome,

Yes actually, my FF mailbox is filled to the brim and my allotment for replies has exhausted. So I urge anybody who wants to send me a PM should attach the Email so I could send the reply through that avenue.
  • #779
  • Oct 9, 2014 10:15am Oct 9, 2014 10:15am
EU +20 +20 +20 +20 +5 + 1 ongoing. Very Very Nice method. Thank you for showing it to us. I,ve adapted it slightly to my style, hope you do not mind. Just wanted to show what was possible using a discretionary approach. last trade ongoing, I was distracted and missed the 2720 entry by a few pips hence the TP below the BRN 2700. Once again thank you for the method.
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Cut your Losers short and let your Winners run.
  • #780
  • Oct 9, 2014 10:19am Oct 9, 2014 10:19am
last trade TP got hit. So EU +105 pips for the day, no losses.
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Cut your Losers short and let your Winners run.
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