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Simple "Make Pips" Strategy

  • #101
  • Jan 21, 2015 9:42am Jan 21, 2015 9:42am
Short EURJPY, two consecutive bearish closes, short at last bearish open, stop above previous bearish open, tp is 2 x pip distance from previous bearish bar's close to its high, in this case 120pips.

http://gyazo.com/80bed7395416fd53f9d1c0147d7b1aeb
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  • #102
  • Jan 21, 2015 9:54am Jan 21, 2015 9:54am
Short GBPJPY, two consecutive bearish closes, short at last bearish open, stop above previous bearish open, tp is 2 x pip distance from previous bearish bar's close to its high, in this case 180pips.

http://gyazo.com/11bfefd6a451927b32002fed45f0eed8​
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  • #103
  • Jan 21, 2015 5:21pm Jan 21, 2015 5:21pm
Shorts closed as long setups developed on both pairs.
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  • #104
  • Jan 22, 2015 6:12am Jan 22, 2015 6:12am
Short GPBJPY...

http://gyazo.com/2683dff9d26ddd6f067052aa59c53104
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  • #105
  • Jan 22, 2015 6:14am Jan 22, 2015 6:14am
Short EURJPY...

http://gyazo.com/6ae95cd86e54428b3a618dbcc07ff03f
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  • #106
  • Jan 22, 2015 8:10am Jan 22, 2015 8:10am
Quoting simoneg
Short EURJPY... http://gyazo.com/6ae95cd86e54428b3a618dbcc07ff03f
closed +124pips
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  • #107
  • Jan 22, 2015 8:16am Jan 22, 2015 8:16am
Quoting simoneg
Short GPBJPY... http://gyazo.com/2683dff9d26ddd6f067052aa59c53104
closed +33pips
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  • #108
  • Jan 22, 2015 8:35am Jan 22, 2015 8:35am
Quoting simoneg
Short EURJPY, two consecutive bearish closes, short at last bearish open, stop above previous bearish open, tp is 2 x pip distance from previous bearish bar's close to its high, in this case 120pips. http://gyazo.com/80bed7395416fd53f9d1c0147d7b1aeb
Hi Simoneg,
Nice to see your thread. Can you please explain this trade with chart example. In first page you mentioned about 1:2 ration does it mean that you take profit 10 pips and stoploss is 5 pips or reverse?
If it is reverse, i mean stoploss is bigger than take-profit then how we can achieve the rule to cut losses short and profits bigger.

Thanks in advance.
  • #109
  • Jan 22, 2015 8:45am Jan 22, 2015 8:45am
Quoting 786 trading
{quote} Hi Simoneg, Nice to see your thread. Can you please explain this trade with chart example. In first page you mentioned about 1:2 ration does it mean that you take profit 10 pips and stoploss is 5 pips or reverse? If it is reverse, i mean stoploss is bigger than take-profit then how we can achieve the rule to cut losses short and profits bigger. Thanks in advance.
Hi 786,

For a scalping situation on 1 hour or lower its 2:1. When I trade it NOW on the H4, I use take profit rules as per yesterday's trade examples, so that it now becomes a minimum 1:2.
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  • #110
  • Jan 23, 2015 8:40am Jan 23, 2015 8:40am
Good Morning~ !

GBPJPY seems to be finding support at this bullish setup and may use this level for good retracement or reversal. Long here.

http://gyazo.com/16ccf4b0b3dae815ae0fadd3c8f7ed6c
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  • #111
  • Jan 23, 2015 8:48am Jan 23, 2015 8:48am
This was a great short setup on the GBPJPY this morning. Achieved its 1:2 risk reward in one bar.

http://gyazo.com/e2d1529569a950390c97590606310e9c
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  • #112
  • Jan 26, 2015 7:05pm Jan 26, 2015 7:05pm
Quoting simoneg
Good Morning~ ! GBPJPY seems to be finding support at this bullish setup and may use this level for good retracement or reversal. Long here. http://gyazo.com/16ccf4b0b3dae815ae0fadd3c8f7ed6c

Trade closed +210pips.
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  • #113
  • Jan 26, 2015 7:19pm Jan 26, 2015 7:19pm
Short NZDJPY...

http://gyazo.com/830b172ef70e93affbc834fc25a4f23e
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  • #114
  • Jan 27, 2015 8:33am Jan 27, 2015 8:33am
Nice short setup on gj h4.
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  • #115
  • Jan 27, 2015 8:45am Jan 27, 2015 8:45am
Quoting simoneg
Nice short setup on gj h4.
Be careful simoneg, JPY is weakening while GBP is getting stronger !
No guts, no glory
  • #116
  • Jan 27, 2015 8:49am Jan 27, 2015 8:49am
Quoting abokwaik
{quote} Be careful simoneg, JPY is weakening while GBP is getting stronger !
Thanks abokwaik! Will pay attention.
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  • #117
  • Jan 27, 2015 8:52am Jan 27, 2015 8:52am
there is no edge with this method
  • #118
  • Jan 27, 2015 9:42am Jan 27, 2015 9:42am
Quoting simoneg
{quote} Thanks abokwaik! Will pay attention.
I hope you didn't take that trade simon, I bought G/J just after I posted my warning on shorting the pair. Closed half position (40 pips), and moved SL to BE on the other half.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 57 KB
No guts, no glory
  • #119
  • Jan 27, 2015 9:48am Jan 27, 2015 9:48am
Quoting abokwaik
{quote} I hope you didn't take that trade simon, I bought G/J just after I posted by warning on shorting the pair. Closed half position (40 pips), and moved SL to BE on the other half. {image}
Hey abokwaik, my short order was filled at 178.60. We have to trade confidently in what we "know". So I took the trade making note of your post. Also short ej at 134. Watching how they play.
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  • #120
  • Jan 27, 2015 10:05am Jan 27, 2015 10:05am
Quoting simoneg
Hi there, I have been trading this simple strategy which I find very effective. I trade it mainly on 1 hour charts. Its effective on higher time frames but of course the risk increases as you go higher. May do some higher time frame examples here. SCALPING GRAB & GO RISK:REWARD for the 1 hour is 2:1 OR 1:1 OR 1:1.5. SHORT when there are TWO CONSECUTIVE BEARISH BARS and the SECOND closes WITH a LOWER CLOSE PRICE LONG when there are TWO CONSECUTIVE BULLISH BARS and the SECOND closes WITH a HIGHER CLOSE PRICE The WIN PROBABILITY is HIGHER when the...
simple and effective, you trained your eyes.. but very few traders do this.
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