Disliked{quote} Ha Mark - 15 out of 15 is a remarkable piece of 'luck', I think its like a famous golfer once said..... "its amazing how the more I practice - the luckier I get". Thanks for posting your results and following details of trade times - inspirational and insightful...cheers...Paul.Ignored
Trading is as simple as ABCD
- #9,404
- Nov 19, 2015 6:24am Nov 19, 2015 6:24am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
Only trading pairs with super tight spreads. I stay away from this wild horses like GBPAUD, GBPNZD and family.
However I cannot let gbpaud's reputation be attacked
in this manner without comment. Spread typically 2.5 with some comm added on 3.2 ish. Runs like this are quite regular and pretty good for people like me that cannot sit for ages scalping in and out.So again like all things trading its horses for courses.
Jokes aside Mark your results are staggering.
- #9,405
- Nov 19, 2015 6:51am Nov 19, 2015 6:51am
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
{quote} There is a lot to be said for trading pairs with super tight spreads as you can it seems get incredible results from small stops and higher lot sizes. Thats fine if you can sit in front of the computer and scalp for however long it takes. I might even give it a whirl myself. However I cannot let gbpaud's reputation be attacked
Today's zone = Tomorrow's opportunity!
- #9,407
- Nov 19, 2015 7:28am Nov 19, 2015 7:28am
{quote} There is a lot to be said for trading pairs with super tight spreads as you can it seems get incredible results from small stops and higher lot sizes. Thats fine if you can sit in front of the computer and scalp for however long it takes. I might even give it a whirl myself. However I cannot let gbpaud's reputation be attacked
I totally agree with you. The GBPAUD is a pip monster (in good meaning), BUT it requires another way of thinking in terms of stop loss size, profit taking
and so on. I was trading GBPAUD myself for a long time, it definately gives good trades but it also can chop you like mad. And chop means in GBPAUD
immediately several losses with -20 at least. Just my experience.
I have found that watching the profit in $$$ instead of pips fits my personality more. With GBPAUD I need a -20 pip stop, means I need to reduce my
lot size. Then I need bigger targets than +5 pips, lets say at least +20. Now, we move in the forex world in a sea of probabilities. I personally see the probability
higher for the EURUSD, AUDUSD or whatever, to give me 5 pips than the GBPAUD giving me 20 pips, IF I am trading very fast and aggressive.
But I agree with you, if you dont have the time then the GBPAUD might be ok for you.
Main thing is anyway that we make money.
Wish you success!
- #9,411
- Nov 19, 2015 10:42am Nov 19, 2015 10:42am
- Joined Jan 2015 | Status: Trader | 5,146 Posts
{quote} Well done Dave!
- #9,418
- Nov 20, 2015 5:46am Nov 20, 2015 5:46am
- | Joined May 2009 | Status: Trader | 1,152 Posts
Clive method but with 5 brick Renko...
My Results for today with SL=10 and minimum trailing stop but the trailing stop made me miss a lot. {image}
The thing about TS is that you can ge unlucky for a good amount of trades but then again, one big movement can get you back this. I experienced this on my own. The most important thing is that you stay consistent.