5 PIPS - Only Five | Page 43 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Demo contest only - 20 pips TP and 20 pips stop - Any TF 54 replies

My Fix Plan: SL 20 pips & TP 5 pips 4 replies

Flappy Pips - How to keep your hard earn PIPS 7 replies

I lose 40 pips and win 6 to 10 pips... 17 replies

spread on GBP/JPY @ alpari is 12 pips intead of 7 pips they claimed to be 6 replies

Attachments: 5 PIPS - Only Five
Exit Attachments

5 PIPS - Only Five

  • #841
  • Nov 16, 2014 8:33pm Nov 16, 2014 8:33pm
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 guess hardly.
  • #842
  • Nov 16, 2014 8:35pm Nov 16, 2014 8:35pm
Quoting Aich
{quote} 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)...
"The best lessons are the ones you learn for yourself, not the ones that are given to you."


I agree with this statement......
  • #843
  • Nov 17, 2014 3:09am Nov 17, 2014 3:09am
Finally I've come to the end of this thread. I tested a pair of mine which is gbpusd :-

Inserted Code
 
 
 
 
 
Attached Image (click to enlarge)
 
Click to Enlarge

Name: gbpusd(17-11-14).png
Size: 184 KB 
 
 
 
 
  
 
  
 
 
 
  
 
 
     
  •  #844 
    •  
  •   
                                    Nov 17, 2014 4:45am
 
                Nov 17, 2014 4:45am
                                  
    •  
 
 
  
 
 
 

                                               EU +35. Thirty pips more than I am allowed to get.  
 
 
 
Attached Image (click to enlarge)
 
Click to Enlarge

Name: EU +35 171114.png
Size: 62 KB 
 
 
 
 
 
 
Cut your Losers short and let your Winners run.
 
 
 
  
 
  
 
 
 
  
 
 
     
  •  #845 
    •  
  •   
                                    Nov 17, 2014 5:06am
 
                Nov 17, 2014 5:06am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting dee50
  
EU +35. Thirty pips more than I am allowed to get.  {image}
  
 
 

All very well but really, 3.45 am UK time, who is up then?                                   
        
 
  
 
  
 
 
 
  
 
 
     
  •  #846 
    •  
  •   
                                    Nov 17, 2014 7:27am
 
                Nov 17, 2014 7:27am
                                  
    •  
 
 
  
 
 
 

                                               dee50, if you lived in Asia, USDJPY gave you away 70+ pips in two hours when the color of Heikin Ashi altered into white, which was coincidentally at Support 1 where price bounced off.                                   
        
 
  
 
  
 
 
 
  
 
 
     
  •  #847 
    •  
  •   
                                    Nov 17, 2014 8:07am
 
                Nov 17, 2014 8:07am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting dee50
  
{quote} Glad to be of help. BTW. Divergence is a "Leading Indicator" it is actually signalling what is likely to happen next. The other "Leading Indicator" is Price Action. (this was more for the benefit of others as you already know it) Where as Moving Averages have long been known, and have been proven to be, the most Lagging, Least reliable indicator you can use for taking a trade. But in my experience, what actually matters is how you use them. Thanks again for the FXViper thingy. I have been exploring the information on "my FX Book" and there...
  
 
 
 

Its leading in the fact that its possibly showing trend change, but lagging in the fact that its based on something like a macd or rsi the indi your talking about shows something that you can see with your naked eye much quicker, and i agree with TK its useless below 4hrs for the most part you may be able to get in REALLY early on a 15min before it hits the 4 hr but its dangerous, that being said most the ones you have posted i have agreed with the direction and where you bought. But i was just saying if newbies come in and start taking trades off that indi they could get into trouble. I mean that indi wont post divergence until the price has moved against trend far enough to whatever setting its set to, at that point the price has probably moved quite a bit, this would be lagging my opinion.                                   
        
 
  
 
  
 
 
 
  
 
 
     
  •  #848 
    •  
  •   
                                    Nov 17, 2014 8:17am
 
                Nov 17, 2014 8:17am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting dee50
  
EU +35. Thirty pips more than I am allowed to get.  {image}
  
 
 
 

what broker is that?                                   
        
 
  
 
  
 
 
 
  
 
 
     
  •  #849 
    •  
  •   
                                    Nov 17, 2014 8:46am
 
                Nov 17, 2014 8:46am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting srmiller82
  
{quote} Its leading in the fact that its possibly showing trend change, but lagging in the fact that its based on something like a macd or rsi the indi your talking about shows something that you can see with your naked eye much quicker, and i agree with TK its useless below 4hrs for the most part you may be able to get in REALLY early on a 15min before it hits the 4 hr but its dangerous, that being said most the ones you have posted i have agreed with the direction and where you bought. But i was just saying if newbies come in and start taking...
  
 
 

I can not be bothered. I Bow to your superior knowledge 
 
 
 
Cut your Losers short and let your Winners run.
 
 
 
  
 
  
 
 
 
  
 
 
     
  •  #850 
    •  
  •   
                                    Nov 17, 2014 9:32am
 
                Nov 17, 2014 9:32am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting tk5
  
Forex is about making five pips in an hour... We have been abusing ourselves with reading, seeking and doing all that crap to make money from FX. We are all fools. Do you indeed need indicators, algos, malgos, zalgos I don't know codings modings to make 5 damn pips??? You need very basic forex skills...yes, basic skill to earn 5 pips and move out immediately! 5 pips is just simple and shortest movement of a God damned candle my friends. Yes it's. And can't we really locate that movement during an hour?! We all can and we will!. And if you think...
  
 
 

 how do you determined where to put stoploss ?                                   
        
 
  
 
  
 
 
 
  
 
 
     
  •  #851 
    •  
  •   
                                    Nov 17, 2014 9:48am
 
                Nov 17, 2014 9:48am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting forextarget
  
{quote} how do you determined where to put stoploss ?
  
 
 

To get only 5 pips, you don`t need a SL or TP...                                   
        
 
 
 
There`s no life before COFFEE!
 
 
 
  
 
  
 
 
 
  
 
 
     
  •  #852 
    •  
  •   
                                    Nov 17, 2014 11:01am
 
                Nov 17, 2014 11:01am
                                  
    •  
 
 
  
 
 
 

                                               Dear tk5 and friends that often build on this thread, thank you. Finally I made more winning trades than lossing (7/3). Still is not a good deal because when I get a trade wrong I loss many pips (15 to 20) but that is my foult since I am still learning the system. The fact is that it works and I thank you for that.
 

Below I will write my settings and I would appreciate tk5 or any othe member to please tell me if I am doing it right. As you can see I am learning and need to fine tune it for me to work great:
 
 1) Settings:

a. Set Moving Average Period 5, Shift 2, Simple, Tipical Price

b. Set Moving Average Period 200, Shift 0, Simple, Tipical Price

c. Set Heikin-Ashi Candles (the indicator I use is called Synergy_APB which is the HA Candle)
 2) What needs to happen to trigger the trade (Example of a Long trade / Short would be the opposite)

a. No news period

b. Second HA Candle with a solid bottom crosses the Moving Average (5).

c. Wait a moment for that second candle to consolidate.

d. Moving Average Period 200 also points up as is the trade that just trigger. (does it matter if the line is above or below the Moving Average 5 as long as it points up as the intended trade?)

e. Set the take profit in 5 pips as soon as you make the trade or you might have torouble to set it for 5 pips and might have to set it for 6, 7 or 8. Some times prices goes up fast.

f. Set the SL 15 to 20 pips below trading price (this part is really bad for me… I dont seem to get it right and will have to try something else)

g. Do not enter fourth of fith candle. Look for another set. I lost a lot of trades a few days ago when entering 4th or 5th candles until I read the thread again and realized the rule was to enter on the second candle that crossed the Moving Average (5)

h. Once you master the system and try it out in demo start with small lots and then go to big big lots.

i. Dont trade with Gold or Silver since you never know what will happend, at least I have no idea. There are many other pars to trade that are more predictable regarding price action (this kind of method)

j. Dont be a happy trigger. In demo account you can be a happy trigger as long as you take the time to try to understand why the trade that closed went well or wrong.
 

Finally, I read that “H1 dont lie” tk5. What do you mean? Do you mean that if it points long as the example I wrote about I should go with it and if it point the oppostite direction as the example I should not go with it?
 

Thank you, best regards and good luck,

Manuel                                   
        
 
  
 
  
 
 
 
  
 
 
     
  •  #853 
    •  
  •   
                                    Nov 17, 2014 11:01am
 
                Nov 17, 2014 11:01am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting forextarget
  
{quote} how do you determined where to put stoploss ?
  
 
 

Ask your broker and do the opposite.                                   
        
 
  
 
  
 
 
 
  
 
 
     
  •  #854 
    •  
  •   
                                    Nov 17, 2014 11:29am
 
                Nov 17, 2014 11:29am
                                  
    •  
 
 
  
 
 
 

                                               NO STOPLOSS. Your account big enough for what can happen. This is a Real Account.                                   
        
 
 
 
Attached Image (click to enlarge)
 
Click to Enlarge

Name: Current open Trades 14 nov.png
Size: 21 KB 
 
 
 
 
 
 
Cut your Losers short and let your Winners run.
 
 
 
  
 
  
 
 
 
  
 
 
     
  •  #855 
    •  
  •   
                                    Nov 17, 2014 11:33am
 
                Nov 17, 2014 11:33am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting Anusragger
  
{quote} Ask your broker and do the opposite.
  
 
 

   anus = no sense 😉                                   
        
 
  
 
  
 
 
 
  
 
 
     
  •  #856 
    •  
  •   
                                    Nov 17, 2014 11:36am
 
                Nov 17, 2014 11:36am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting jalkok
  
{quote} To get only 5 pips, you don`t need a SL or TP...
  
 
 

   no stoploss =  margincall😆                                   
        
 
  
 
  
 
 
 
  
 
 
     
  •  #857 
    •  
  •   
                                    Nov 17, 2014 11:38am
 
                Nov 17, 2014 11:38am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting Manu27
  
Dear tk5 and friends that often build on this thread, thank you. Finally I made more winning trades than lossing (7/3). Still is not a good deal because when I get a trade wrong I loss many pips (15 to 20) but that is my foult since I am still learning the system. The fact is that it works and I thank you for that. Below I will write my settings and I would appreciate tk5 or any othe member to please tell me if I am doing it right. As you can see I am learning and need to fine tune it for me to work great: 1) Settings: a. Set Moving Average Period...
  
 
 

hi Manu thx for comments.

For your patience of studying the thread from start I will comment..
 

1.

a. Not simple but Exponential MA

b. Exponential MA
 

2.

d. ema 200 is for trend determination - prices over it is uptrend conditions, below is downtrend.

e. If you use ECN (paying commissions) TP is around 5.8-6 pips...to make it NET 5 pips. (we talk about net pips)

f. SL up to you - manually, as per your balance and lot sizes.
 

H1 is for checking trend direction (see up d) )                                   
        
 
 
 
always draw trendlines
 
 
 
  
 
  
 
 
 
  
 
 
     
  •  #858 
    •  
  •   
                                    Nov 17, 2014 11:40am
 
                Nov 17, 2014 11:40am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting dee50
  
NO STOPLOSS. Your account big enough for what can happen. This is a Real Account. {image}
  
 
 

BTW, Viper managing over 600.000 USD of account uses 1:500 leverage..

so, people get a life                                   
        
 
 
 
always draw trendlines
 
 
 
  
 
  
 
 
 
  
 
 
     
  •  #859 
    •  
  •   
                                    Nov 17, 2014 11:45am
 
                Nov 17, 2014 11:45am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting Manu27
  
Still is not a good deal because when I get a trade wrong I loss many pips (15 to 20) but that is my foult since I am still learning the system. The fact is that it works and I thank you for that.
  
 
 

You've discovered the basic flaw of "the system" and of this whole thread.

It's easy to make 5 pips if you're ready to lose 15 pips. Even with completely random entry points you'll have a 75% success rate, but in the end you don't win anything - you just pay the spread to your broker who will be extremely happy with your large amount of small trades.
 

To make a profit you need an edge, i.e. your trades need to be more successful than a random trade.

What is discussed in this thread doesn't provide an edge, the basic system as it was presented with Heikin Ashi, EMA-5, EMA-200 etc. does not provide any real edge in a backtracing test over the past 10 years (it doesn't perform any better than random trades in the direction of the long-term average).
 

If you really do have an edge (with some combination of indicators or whatever), there's no reason to use a strategy that has such a bad revenue to cost ratio - 5 pips gain compared to 1.5 pips spread is awful.                                   
        
 
  
 
  
 
 
 
  
 
 
     
  •  #860 
    •  
  •   
                                    Nov 17, 2014 11:54am
 
                Nov 17, 2014 11:54am
                                  
    •  
 
 
  
 
 
 
 
 
 
 
Quoting RHoudini
  
{quote} You've discovered the basic flaw of "the system" and of this whole thread. It's easy to make 5 pips if you're ready to lose 15 pips. Even with completely random entry points you'll have a 75% success rate, but in the end you don't win anything - you just pay the spread to your broker who will be extremely happy with your large amount of small trades. To make a profit you need an edge, i.e. your trades need to be more successful than a random trade. What is discussed in this thread doesn't provide an edge, the basic system as it was presented...
  
 
 

listen Houdini..if you consider yourself 'smart' professional trader and regard this thread too basic for yourself would you tell us which system/method on FF made you a millionaire? How much money did you earn in your lifetime from 'better sophisticated' strategies?
 

stop showing silly attitude here..annoying.
 

(if you had objective eyes you could see we are talking about 5 net pips..learn reading first.)                                   
        
 
 
 
always draw trendlines
 
 
 
  
 
  
 
 
 
 
 
  
 
 
 
 
                                    4 traders viewing now