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5 PIPS - Only Five

  • #21
  • Oct 27, 2014 4:36pm Oct 27, 2014 4:36pm
Quoting GoldenEA
{quote} If you so sure why not use 5 lot, 50 lot instead 0.5 lot? you can make $250, $2500 in an hour.
you can be sure but you cant be 1000% sure cause u aint a God.

it's a psychological thing...it's also about risk aversion. you cant risk everything...if you have deposited 50.000 usd then go ahead open 50 lot positions
always draw trendlines
  • #22
  • Oct 27, 2014 4:45pm Oct 27, 2014 4:45pm
Soon i will create thread with 20 - 50 pips only daily !! and its easy every day*

like your thread keep it up .. But i dont like overleverage part.
Neural Network Algorithm and Econophysics
  • #23
  • Oct 27, 2014 4:45pm Oct 27, 2014 4:45pm
Quoting tk5
{quote} listen Fred...simply open a M15 chart...look at it... Apply 5 EMA with 2 shift. candle crosses 5ema..next opens inside... you can easily take 5 pips and get hell out. There will surely be 5 even more there..FOR SURE! please do it now....see how many such short movements you can do. Did you see?? It's so simple.
hi, just a couple questions:
what timeframe does this method work on?
how do you enter the market?
what does this mean: 'candle crosses 5ema..next opens inside...'?

THX for your time!
  • #24
  • Oct 27, 2014 5:16pm Oct 27, 2014 5:16pm
it works best with m15...only because its then easier to control situation, and more signals.

Remember one thing - when price enters 5ema that means it enter new stage.like a turnaround..no matter short or long term. so you can do your thing while price within that zone.
always draw trendlines
  • #25
  • Oct 27, 2014 5:20pm Oct 27, 2014 5:20pm
Quoting Vigovski
Soon i will create thread with 20 - 50 pips only daily !! and its easy every day* like your thread keep it up .. But i dont like overleverage part.
well it makes 20 a day ....)))
overleveraging is not risky overlotting is
always draw trendlines
  • #26
  • Oct 27, 2014 6:26pm Oct 27, 2014 6:26pm
As much as you want to think this is a way to trade, its really a bad way to go about it. I wont even go into the risk portion here but in order to make it long term in trading you need a more specfic plan for every possible scenario that could possibly occur. Im guessing you havent been trading that long but I went down this exact same thing, used to do 5 pips London and US session and then 3 pips for asia or late us. It works until it doesnt. All im saying is be careful and prepare yourself.
All posts are my personal opinion
  • #27
  • Oct 27, 2014 6:57pm Oct 27, 2014 6:57pm
Let me save some new traders here some time, trading is simple, but is more complicated than simply a candle is closing above an ema. OP says "$25 an hour", but real traders do not look at trading as if its going to be a no loss system.
  • #28
  • Oct 27, 2014 7:01pm Oct 27, 2014 7:01pm
Quoting tk5
(I suggest you use 1:500 leverage and ECN only!. Dont be afraid. High leverage is an opportunity not a risk)
When you will get experience in trading, you will know that highest the leverage, highest the risk.

High leverage is only a promotional tool for brokers to attract newbies.
MT4/MT5 EAs/Indicators/Alerts coder
  • #29
  • Oct 27, 2014 7:29pm Oct 27, 2014 7:29pm
Quoting Vigovski
Soon i will create thread with 20 - 50 pips only daily !! and its easy every day* like your thread keep it up .. But i dont like overleverage part.
When/if you start this thread, will you announce it here (with the link etc.)? Thanks
  • #30
  • Oct 27, 2014 11:04pm Oct 27, 2014 11:04pm
Your'e enthusiasm is good but you need a clear strategy.

It's nearly impossible to get good risk/reward with a target that small.
If you did use 2.5p - You would get stopped out almost every trade.

What do you do when you loose 10 pips in an hour?
It will take you 2 hours to make it back - This is exhausting and will lead to stress and poor judgement.
When do you stop for the day? - You won't always average $25/hour...no matter how much you trade through. You will have loosing hours..and loosing days.

That being said, i wish you all the best for your trading...
Good luck
  • #31
  • Oct 27, 2014 11:13pm Oct 27, 2014 11:13pm
you guys are being too pessimistic...note that i have been trading quite long time and on real account. this way.

If you are too naive to locate 5 pips movememt during an hour (!) then you have no moral right to be a trader.

What I offer is rather a mindset, a tactic...and a plan which creates discipline.
always draw trendlines
  • #32
  • Oct 27, 2014 11:16pm Oct 27, 2014 11:16pm
Quoting FerruFx
{quote} When you will get experience in trading, you will know that highest the leverage, highest the risk. High leverage is only a promotional tool for brokers to attract newbies.
Have been in 1:500 since thr beggining. I am still alive:-) :-)

thats a myth Ferru beleive me. High leverage is a golden opportunity to use small amount to do biger things.

All is aked from you is to use ecn account and open lots reasonably, as per the size of your balance..
always draw trendlines
  • #33
  • Oct 27, 2014 11:40pm Oct 27, 2014 11:40pm
Quoting tk5
{quote} Have been in 1:500 since thr beggining. I am still alive:-) :-) thats a myth Ferru beleive me. High leverage is a golden opportunity to use small amount to do biger things.
If you have a profitable method, there's no need for high leverage.

Leverage is provided to get higher profits quicker with a smaller balance ... But the "higher" is in both ways ... the losses will also be bigger and will ruin an account quicker.

Anyway wish you the best in your trading.
MT4/MT5 EAs/Indicators/Alerts coder
  • #34
  • Oct 27, 2014 11:43pm Oct 27, 2014 11:43pm
Avoid MT4 unless you enjoy really tight spreads. Practice with eurusd on demo..Get yourself used to it.

Use Market Orders only ( that sweet one click instant ordering).

Use Heiken Ashi
always draw trendlines
  • #35
  • Oct 27, 2014 11:48pm Oct 27, 2014 11:48pm
Quoting FerruFx
{quote} If you have a profitable method, there's no need for high leverage. Leverage is provided to get higher profits quicker with a smaller balance ... But the "higher" is in both ways ... the losses will also be bigger and will ruin an account quicker. Anyway wish you the best in your trading.
Well if you have good deposit-balance then use 1:100 even lower. No provlem.

I suggest 1:500 just for coping with lower balsnce. More comcretely, use it for balances of 500 - 1000$ for instance.

it requires mere 100$ margin to open 0.5 lot with it so you dont throw 500$ margin to market (on 1:100)
always draw trendlines
  • #36
  • Oct 27, 2014 11:54pm Oct 27, 2014 11:54pm
Quoting tk5
..... $25 an hour. enough......
If $25 per hour makes you happy, go drive a taxi and have a life.
Forex is for people with big plans.
Forex is a high risk venture and there is only 1 reason to undertake a high risk venture - to make HIGH gains.
All the best with this.
Cheers, H
  • #37
  • Oct 27, 2014 11:59pm Oct 27, 2014 11:59pm
Quoting tk5
{quote} Well if you have good deposit-balance then use 1:100 even lower. No provlem. I suggest 1:500 just for coping with lower balsnce. More comcretely, use it for balances of 500 - 1000$ for instance. it requires mere 100$ margin to open 0.5 lot with it so you dont throw 500$ margin to market (on 1:100)
Yes I agree. That's the purpose of higher leverage ... However your higher lot size mean that less pips are needed to "eat" your account.
MT4/MT5 EAs/Indicators/Alerts coder
  • #38
  • Oct 28, 2014 12:11am Oct 28, 2014 12:11am
Quoting Aich
{quote} If $25 per hour makes you happy, go drive a taxi and have a life. Forex is for people with big plans. Forex is a high risk venture and there is only 1 reason to undertake a high risk venture - to make HIGH gains. All the best with this. Cheers, H
which of many systems offered on FF made you a millioner so far?? just be honest.

make 100$ a day, means 2000$ a month....or choose drive taxi all day long...which one you choose?

idea is to grow your balance..make 2000$ first month then make it 4000$ next month..then open higher lots using less time. OR open the same lot with less levrrage.

its that simple.
always draw trendlines
  • #39
  • Oct 28, 2014 12:25am Oct 28, 2014 12:25am
Quoting tk5
{quote} which of many systems offered on FF made you a millioner so far?? just be honest. make 100$ a day, means 2000$ a month....or choose drive taxi all day long...which one you choose? idea is to grow your balance..make 2000$ first month then make it 4000$ next month..then open higher lots using less time. OR open the same lot with less levrrage. its that simple.
I do not look at or use any of the systems on FF.
Trading is a lot more than having a good system. It is about having a good/great strategy. This includes
1) identifying events - vertical and horizontal
2) trading at the correct time of day, time of week, time of month
3) choosing the pairs with better reward/risk ratio
4) trading with a reward/risk ratio of at least 4:1.
5) trusting your system and getting "out of the way".
6) identifying how and when to compound your trades.
7) having a plan when your trades are all going "belly up".
8) having a plan when your trades are all going positive
9) having a plan to withdraw funds and invest them in some other venture
10) knowing when to walk away from forex once your other investments are working for you
11) etc
About the only useful thing you have said so far is covered in 6 and 8.
People who push system, system, system are not yet aware of how a trader thinks.
Keep working on it. You may get there. It sounds like you have a way to go yet.
Cheers, H
ps. Anyone asking how I trade, will not get a response. The best lessons are the ones you learn for yourself, not the ones that are given to you.
pps. I suggest anyone reading these threads stay away from the ones that have the word "simple" in the title.
  • #40
  • Oct 28, 2014 12:45am Oct 28, 2014 12:45am
Aich..mine is not even a system. It's a Mindset a Tactic.

Your 11 points are cool but you nevrr must follow all of them at once. One may get crazy this way. :-)

Durimg this thread I will suggest simple actions for safer confirmation of locating God damned 5 pips.
always draw trendlines
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