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Pip Farming

  • #261
  • Jan 27, 2015 4:22am Jan 27, 2015 4:22am
Quoting scouse12345
{image} That's my Gbjpy now, very close too a long.. scouse.
Based on your chart (eur.jpy not GBPJPY) long was triggered in the last candle no ?
  • #262
  • Jan 27, 2015 4:23am Jan 27, 2015 4:23am
Quoting fwloop
{quote} Yes my broker is GMT +1 {image}
That explains the difference in the candles since ST broker TZ is +2 (NY close time)
  • #263
  • Jan 27, 2015 4:31am Jan 27, 2015 4:31am
Quoting EternalNewB
{quote} Based on your chart (eur.jpy not GBPJPY) long was triggered in the last candle no ?

It was yes, mixing my Jpy pairs up at the moment... your correct long eujpy
All My Opinions, Are Just That, My Opinion!!!
  • #264
  • Jan 27, 2015 4:57am Jan 27, 2015 4:57am
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 78 KB



Potential Short...
All My Opinions, Are Just That, My Opinion!!!
  • #265
  • Jan 27, 2015 5:18am Jan 27, 2015 5:18am
ST do you have any selection process or do you take all signals that appears ?

You've already said you don't really care about the overall trend, but what if you have 5 signals ? you take them all ?

thanks again
  • #266
  • Jan 27, 2015 6:04am Jan 27, 2015 6:04am
GBPJPY long order set if this candle finishes below fractal top
  • #267
  • Jan 27, 2015 6:10am Jan 27, 2015 6:10am
Quoting Topgun
GBPJPY long order set if this candle finishes below fractal top

Do you have a chart too show that top.....>?


scouse.
All My Opinions, Are Just That, My Opinion!!!
  • #268
  • Jan 27, 2015 6:18am Jan 27, 2015 6:18am
i see it
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  • #269
  • Jan 27, 2015 6:21am Jan 27, 2015 6:21am
Got it, thanks Invest.
All My Opinions, Are Just That, My Opinion!!!
  • #270
  • Jan 27, 2015 8:18am Jan 27, 2015 8:18am
Quoting EternalNewB
ST do you have any selection process or do you take all signals that appears ? You've already said you don't really care about the overall trend, but what if you have 5 signals ? you take them all ? thanks again
Eternal, In short, YES, I take all signals. With that being said, I only trade about 6-8 pairs on a regular basis. I have been trading some pairs since the start of this thread just to help[ illustrate how it works and what to expect when trading this style. As we get everyone going along, I will be back to my usual suspects for most of my trades.
Plan, Prepare, Execute, Repeat
  • #271
  • Jan 27, 2015 8:37am Jan 27, 2015 8:37am
Short on USDCAD.

Sorry for posting them but trying to make sure I am getting the idea right


EDIT: it is hard to kill old habits (e.g. seeing a round number and shorting right on it )
Attached Image
  • #272
  • Jan 27, 2015 8:42am Jan 27, 2015 8:42am
Lesson learned in the last couple of days.

So FXCM has a great tool that let's you set limits and stops on up to three portions of your position. I am normally an anal retentive when it comes to making sure I understand exactly how something works, but it's limits and stops right...how hard could it be.

Turns out it is from the current floating price! How stupid of me to not know that...Oh well, it cost me a couple of good positions, but I now know
Plan, Prepare, Execute, Repeat
  • #273
  • Jan 27, 2015 8:49am Jan 27, 2015 8:49am
Quoting EternalNewB
Short on USDCAD. Sorry for posting them but trying to make sure I am getting the idea right EDIT: it is hard to kill old habits (e.g. seeing a round number and shorting right on it ) {image}
Eternal, YES, you seem to be catching on quite well! Keep at it and start developing your feel for the pairs you want to trade.....I dont even have a chart of USD/CAD...it moves way to slow for me most times

Good luck

Many pips!
Plan, Prepare, Execute, Repeat
  • #274
  • Jan 27, 2015 9:16am Jan 27, 2015 9:16am
Thanks ST...

A couple of more questions if I may :$

1. when do you decide to switch your SL to BE ? I'm usually pretty anal about this & move to BE as soon as I am 20 pips in profit or so, but I see you have no problem going 50 pips in profit then close the trade @ loss.

2. when do you decide that a trade no longer works for you ? is it usually when it hits SL or you have other criteria ?
  • #275
  • Jan 27, 2015 9:36am Jan 27, 2015 9:36am
@swing - hey how you doing?? Threads going really well got some good contributors here. Keep it going!!
  • #276
  • Jan 27, 2015 9:38am Jan 27, 2015 9:38am
Quoting EternalNewB
Thanks ST... A couple of more questions if I may :$ 1. when do you decide to switch your SL to BE ? I'm usually pretty anal about this & move to BE as soon as I am 20 pips in profit or so, but I see you have no problem going 50 pips in profit then close the trade @ loss. 2. when do you decide that a trade no longer works for you ? is it usually when it hits SL or you have other criteria ?
Eternal

1) As I have talked about here on the thread a little bit.....When my profit pips equals my risk, I will take 1/3 or 1/2 and move my stop to 1/2 of it's original value.
for example if I have a 60 pip stop and I am trading a mini lot, when the profit pips reach 60, I will take .05 off and move my stop to -30.....when my profit pips are 100+ I will generally take 1/2 of what is left....maybe .02 and move my stop to B/E...I will then let the remainder trade until stopped out or a reversal signal
2) The trades that work the very best, move in my direction almost immediately. If I have one that is just wiggle and jiggle and not doing much, I will start to tighten my stop after each completed bar. so usually after 4-8 hours I will have cut the stop in half if not more. The reason I do this is simply opportunity cost. If I have money tied up in margin for a trade that is not working, it either needs to move, or get me out so I can move on to something else that has the potential to pay me.
Plan, Prepare, Execute, Repeat
  • #277
  • Jan 27, 2015 9:40am Jan 27, 2015 9:40am
Quoting claudia1
@swing - hey how you doing?? Threads going really well got some good contributors here. Keep it going!!
Hey Claudia!....glad to see you around....you should come join us
We are farming pips!! LOL....we had one of those truly exceptional weeks last week....Farmed around 1900 pips
Plan, Prepare, Execute, Repeat
  • #278
  • Jan 27, 2015 9:43am Jan 27, 2015 9:43am
Quoting swingtrade65
{quote} Hey Claudia!....glad to see you around....you should come join us We are farming pips!! LOL....we had one of those truly exceptional weeks last week....Farmed around 1900 pips
Great stuff. lol I prefer 20 a day but you got something good there no doubt.
  • #279
  • Jan 27, 2015 9:44am Jan 27, 2015 9:44am
Quoting claudia1
{quote} Great stuff. lol I prefer 20 a day but you got something good there no doubt.
Stop in anytime!!! You are always welcome here
Plan, Prepare, Execute, Repeat
  • #280
  • Jan 27, 2015 9:46am Jan 27, 2015 9:46am
Quoting swingtrade65
{quote} Stop in anytime!!! You are always welcome here
Thanks I do follow it just in lurk mode - right back to scalping!!!
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