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Magnetic Target Zone with Capped Martingale

  • #21
  • Oct 12, 2014 9:53am Oct 12, 2014 9:53am
I came to another conclusion : I should put up screenshots of the trades closed / cancelled that I have mentioned previously in posts 5 , 9 and 11.
This should serve as proof of taking the trades mentioned and following this system. For the above 3 trade set I am attaching a single mt4 image. Henceforth I will update the image with each trade set closure.
Attached Image (click to enlarge)
Click to Enlarge Name: Trade Proofs.jpg Size: 146 KB
Striving to Develop & Implement Innovative Ideas
  • #22
  • Oct 12, 2014 9:44pm Oct 12, 2014 9:44pm
Quoting New-Pragati
As per the market close on Friday, the price of AUDJPY is 93.45. If market opens with this price on Monday or lower I will take this trade : AUDJPY (A1) : buy 0.01 lot at 93.45. TP 93.85 . SL post 3rd Martingale. Next Level buy 0.04 lot at 92.75(A2) if TP not hit on above trade (A1) and goes further down. TP at this level will be 93.15.All AUDJPY trades closed) Last Level buy 0.20 lot at 92.05 (A3) if TP not hit on the above trade (A2) and goes further down. TP at this level will be 93.00. (All AUDJPY trades closed) If the pair continues falling...
Well I did not stay awake till market open on Monday. I opened the above trade at 93.24 . I woke up 4 hours after the market open.
TP is still 93.85.
2nd step and 3rd step remains the same.
Striving to Develop & Implement Innovative Ideas
  • #23
  • Oct 12, 2014 10:26pm Oct 12, 2014 10:26pm
Quoting New-Pragati
I have thought about increasing the Risk/Reward ratio. The best that I could come up with was : The 1st step of the trade set remains the same. There is no improvement in the Risk/Reward ratio. Improvement in Risk/Reward ratio will be implemented in 2nd and 3rd step of the trade set. First I will implement a method whereby I close half the trade position in the current TP zone and remaining half at a little better profit zone. The SL of the 3rd step will also be reduced. Lets see how this works out for me. Wish me Luck and Best Wishes.
Quoting New-Pragati
{quote} Well I did not stay awake till market open on Monday. I opened the above trade at 93.24 . I woke up 4 hours after the market open. TP is still 93.85. 2nd step and 3rd step remains the same.
Based on the above a slight change in TP and SL of the trades.
TP on 1st step remains 93.85
TP on 2nd step - half position closed at 93.15 and remaining part closed at 93.30 including 1st step
TP on 3rd step -Fully closed on 93.00. All trades.
SL of all above trades will be 91.80
Striving to Develop & Implement Innovative Ideas
  • #24
  • Oct 13, 2014 5:11am Oct 13, 2014 5:11am
The trade mentioned in posts 16,22 and 23 has closed in a profit of $5.63 after deducting charges.
Trades in step 2 and step 3 are cancelled as 1st step TP hit.
Attached Image (click to enlarge)
Click to Enlarge Name: Proof 2.jpg Size: 50 KB
Striving to Develop & Implement Innovative Ideas
  • #25
  • Oct 13, 2014 8:06pm Oct 13, 2014 8:06pm
Hi New-Pragati,

I wish you every success in this journey

Also if you are still interested in Atr and percentage indi, very talented hayseed has an ea for that. Have a look at his thread, he gave it out yesterday.

cheers
hannele
  • #26
  • Oct 13, 2014 9:47pm Oct 13, 2014 9:47pm
Quoting hannele
Hi New-Pragati, I wish you every success in this journey Also if you are still interested in Atr and percentage indi, very talented hayseed has an ea for that. Have a look at his thread, he gave it out yesterday. cheers hannele
Thanks a ton. Appreciate your help. Will look at his thread. I wish you success also in your trading.
Striving to Develop & Implement Innovative Ideas
  • #27
  • Oct 13, 2014 9:54pm Oct 13, 2014 9:54pm
Last night at about 10:45 pm IST i opened the following orders :
GBPJPY (A1) : buy 0.01 lot at 172.12. TP 172.60 . SL post 3rd Martingale.
Next Level buy 0.04 lot at 171.32 (A2) if TP not hit on above trade (A1) and goes further down. TP at this level will be 171.90.(All GBPJPY trades closed)
Last Level buy 0.20 lot at 170.52 (A3) if TP not hit on the above trade (A2) and goes further down. TP at this level will be 171.20. (All GBPJPY trades closed)
If the pair continues falling then SL of all above trades (A1 , A2 , A3) will be 170.27
The 1st step of the trade got activated before I got up at 7am IST.
Striving to Develop & Implement Innovative Ideas
  • #28
  • Oct 13, 2014 10:07pm Oct 13, 2014 10:07pm
Quoting New-Pragati
Last night at about 10:45 pm IST i opened the following orders : GBPJPY (A1) : buy 0.01 lot at 172.12. TP 172.60 . SL post 3rd Martingale. Next Level buy 0.04 lot at 171.32 (A2) if TP not hit on above trade (A1) and goes further down. TP at this level will be 171.90.(All GBPJPY trades closed) Last Level buy 0.20 lot at 170.52 (A3) if TP not hit on the above trade (A2) and goes further down. TP at this level will be 171.20. (All GBPJPY trades closed) If the pair continues falling then SL of all above trades (A1 , A2 , A3) will be 170.27 The 1st step...
The above trade was closed as conditions have changed overnight. Even though there is a small profit it will not be considered as part of the trade set and strategy.
Will not add this profit in the First Post.



Hence forth I will not leave pending orders open overnight as conditions change drastically.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 3.jpg Size: 47 KB
Striving to Develop & Implement Innovative Ideas
  • #29
  • Oct 14, 2014 4:19am Oct 14, 2014 4:19am
Today's First Trade :
GBPJPY (A1) : buy 0.01 lot at 170.78. TP 171.50 . SL post 3rd Martingale.
Next Level buy 0.04 lot at 170.08 (A2) if TP not hit on above trade (A1) and goes further down. TP at this level will be 170.90.(All GBPJPY trades closed)
Last Level buy 0.20 lot at 169.48 (A3) if TP not hit on the above trade (A2) and goes further down. TP at this level will be 170.50. (All GBPJPY trades closed)
If the pair continues falling then SL of all above trades (A1 , A2 , A3) will be 169.23.
Striving to Develop & Implement Innovative Ideas
  • #30
  • Oct 14, 2014 5:41am Oct 14, 2014 5:41am
Today's Second Trade :
GBPUSD (B1) : buy 0.01 lot at 1.5948. TP 1.59980 . SL post 3rd Martingale.
Next Level buy 0.04 lot at 1.5878 (B2) if TP not hit on above trade (B1) and goes further down. TP at this level will be 1.5930.(All GBPUSD trades closed)
Last Level buy 0.20 lot at 1.5808 (B3) if TP not hit on the above trade (B2) and goes further down. TP at this level will be 1.5860. (All GBPUSD trades closed)
If the pair continues falling then SL of all above trades (B1 , B2 , B3) will be 1.5783.
Striving to Develop & Implement Innovative Ideas
  • #31
  • Oct 14, 2014 6:37am Oct 14, 2014 6:37am
Quoting New-Pragati
Today's First Trade : GBPJPY (A1) : buy 0.01 lot at 170.78. TP 171.50 . SL post 3rd Martingale. Next Level buy 0.04 lot at 170.08 (A2) if TP not hit on above trade (A1) and goes further down. TP at this level will be 170.90.(All GBPJPY trades closed) Last Level buy 0.20 lot at 169.48 (A3) if TP not hit on the above trade (A2) and goes further down. TP at this level will be 170.50. (All GBPJPY trades closed) If the pair continues falling then SL of all above trades (A1 , A2 , A3) will be 169.23.
The 2nd step of this trade (A2) is executed a few minutes back.
Striving to Develop & Implement Innovative Ideas
  • #32
  • Oct 15, 2014 1:24am Oct 15, 2014 1:24am
Quoting New-Pragati
Today's First Trade : GBPJPY (A1) : buy 0.01 lot at 170.78. TP 171.50 . SL post 3rd Martingale. Next Level buy 0.04 lot at 170.08 (A2) if TP not hit on above trade (A1) and goes further down. TP at this level will be 170.90.(All GBPJPY trades closed) Last Level buy 0.20 lot at 169.48 (A3) if TP not hit on the above trade (A2) and goes further down. TP at this level will be 170.50. (All GBPJPY trades closed) If the pair continues falling then SL of all above trades (A1 , A2 , A3) will be 169.23.
The above trade was closed manually before the targeted profit zone as in 2 hours GBP high impact news is coming up.Made a net profit of $25.25.The other GBPUSD trade is still open in the first step.
Attached Image (click to enlarge)
Click to Enlarge Name: proof4.jpg Size: 52 KB
Striving to Develop & Implement Innovative Ideas
  • #33
  • Oct 15, 2014 8:32am Oct 15, 2014 8:32am
Quoting New-Pragati
Today's Second Trade : GBPUSD (B1) : buy 0.01 lot at 1.5948. TP 1.59980 . SL post 3rd Martingale. Next Level buy 0.04 lot at 1.5878 (B2) if TP not hit on above trade (B1) and goes further down. TP at this level will be 1.5930.(All GBPUSD trades closed) Last Level buy 0.20 lot at 1.5808 (B3) if TP not hit on the above trade (B2) and goes further down. TP at this level will be 1.5860. (All GBPUSD trades closed) If the pair continues falling then SL of all above trades (B1 , B2 , B3) will be 1.5783.
The above mentioned trade has been closed with a profit of $4.95 ( after deductions) in the 1st step.
The 2nd step of the trade missed being executed by less than a pip. Hence 2nd step and 3rd step cancelled.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 5.jpg Size: 47 KB
Striving to Develop & Implement Innovative Ideas
  • #34
  • Edited 9:36am Oct 15, 2014 9:05am | Edited 9:36am
Practically the whole day today I was not on my system. I was on my system only after 6:30 pm IST.
Today's First Trade :
GBPJPY (A1) : buy 0.01 lot at 169.79. TP 170.20 . SL post 3rd Martingale.
Next Level buy 0.04 lot at 169.09 (A2) if TP not hit on above trade (A1) and goes further down. TP at this level will be 169.65.(All GBPJPY trades closed)
Last Level buy 0.20 lot at 168.39 (A3) if TP not hit on the above trade (A2) and goes further down. TP at this level will be 168.95. (All GBPJPY trades closed)
If the pair continues falling then SL of all above trades (A1 , A2 , A3) will be 168.14.
The trade got activated. 1st step and 2 step and immediately the 2nd step closed in profit of $20.98(after deductions)
1st level trade manually closed at a loss of $0.72. So net profit is $20.26.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 6.jpg Size: 52 KB
Striving to Develop & Implement Innovative Ideas
  • #35
  • Oct 15, 2014 9:32am Oct 15, 2014 9:32am
Today's Second Trade :
CADJPY (B1) : buy 0.01 lot at 93.76. TP 94.20. SL post 3rd Martingale.
Next Level buy 0.04 lot at 93.06 (B2) if TP not hit on above trade (B1) and goes further down. TP at this level will be 93.60.(All CADJPY trades closed)
Last Level buy 0.20 lot at 92.36 (B3) if TP not hit on the above trade (B2) and goes further down. TP at this level will be 92.90. (All CADJPY trades closed)
If the pair continues falling then SL of all above trades (B1 , B2 , B3) will be 92.65
the trade got closed in the first step withing 1 hour with a net profit of $4.04
B2 and B3 cancelled.
Attached Image (click to enlarge)
Click to Enlarge Name: proof 7.jpg Size: 55 KB
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  • #36
  • Oct 15, 2014 9:54am Oct 15, 2014 9:54am
Today's Third Trade :
AUDCAD (C1) : sell 0.01 lot at 0.9946. TP 0.9900. SL post 3rd Martingale.
Next Level sell 0.04 lot at 1.0016 (C2) if TP not hit on above trade (C1) and goes further down. TP at this level will be 0.9960.(All AUDCAD trades closed)
Last Level sell 0.20 lot at 1.0086 (C3) if TP not hit on the above trade (C2) and goes further down. TP at this level will be 1.0030. (All AUDCAD trades closed)
If the pair continues rising then SL of all above trades (C1 , C2 , C3) will be 1.0111.
Striving to Develop & Implement Innovative Ideas
  • #37
  • Oct 15, 2014 10:34am Oct 15, 2014 10:34am
Today's fourth Trade :
GBPJPY (D1) : buy 0.01 lot at 169.39. TP 169.90. SL post 3rd Martingale.
Next Level buy 0.04 lot at 168.69 (D2) if TP not hit on above trade (D1) and goes further down. TP at this level will be 169.25.(All GBPJPY trades closed)
Last Level buy 0.20 lot at 167.99 (D3) if TP not hit on the above trade (D2) and goes further down. TP at this level will be 168.55. (All GBPJPY trades closed)
If the pair continues falling then SL of all above trades (D1 , D2 , D3) will be 167.74.
Striving to Develop & Implement Innovative Ideas
  • #38
  • Oct 15, 2014 10:44am Oct 15, 2014 10:44am
Today's fifth Trade :
GBPCHF (E1) : buy 0.01 lot at 1.5076 .TP 1.5125. SL post 3rd Martingale.
Next Level buy 0.04 lot at 1.5006 (E2) if TP not hit on above trade (E1) and goes further down. TP at this level will be 1.5060.(All GBPCHF trades closed)
Last Level buy 0.20 lot at 1.4936 (E3) if TP not hit on the above trade (E2) and goes further down. TP at this level will be 1.4990. (All GBPCHF trades closed)
If the pair continues falling then SL of all above trades (E1 , E2 , E3) will be 1.4911.
Striving to Develop & Implement Innovative Ideas
  • #39
  • Oct 15, 2014 11:46am Oct 15, 2014 11:46am
Today's Sixth Trade :
CADJPY (F1) : buy 0.01 lot at 93.71. TP 94.15. SL post 3rd Martingale.
Next Level buy 0.04 lot at 93.01 (F2) if TP not hit on above trade (F1) and goes further down. TP at this level will be 93.55.(All CADJPY trades closed)
Last Level buy 0.20 lot at 92.31 (F3) if TP not hit on the above trade (F2) and goes further down. TP at this level will be 92.85. (All CADJPY trades closed)
If the pair continues falling then SL of all above trades (F1 , F2 , F3) will be 92.06
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  • #40
  • Oct 15, 2014 11:57am Oct 15, 2014 11:57am
Today's Seventh Trade :
EURGBP (G1) : sell 0.01 lot at 0.8021. TP 0.7998. SL post 3rd Martingale.
Next Level sell 0.04 lot at 0.8061 (G2) if TP not hit on above trade (G1) and goes further down. TP at this level will be 0.8031.(All EURGBP trades closed)
Last Level sell 0.20 lot at 0.8101 (G3) if TP not hit on the above trade (G2) and goes further down. TP at this level will be 0.8071. (All EURGBP trades closed)
If the pair continues falling then SL of all above trades (G1 , G2 , G3) will be 0.8131
Striving to Develop & Implement Innovative Ideas
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