Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#427,701
Apr 8, 2016 8:02am Apr 8, 2016 8:02am

SteFX85
Joined May 2015 | Status: Trader | 1,148 Posts

Quoting ghinnz

Disliked

#12 Trade Plan If price opens in the yellow zone below the support pennant line = sell setup for 2% risk. If price hits the yellow zone above the support pennant line = sell setup for 2% risk ..... How about just put in the bank in CD and get 2% annually with no risk.... Hei...Just kidddiiiing Bro......

Ignored

1 trade a year?

What's that smell? ---- I smell money!

#427,702
Apr 8, 2016 8:09am Apr 8, 2016 8:09am

ghinnz
| Joined Feb 2013 | Status: Trader | 7 Posts

1 trade a year?

Well.., I don't know..., how many times open position you trade with that 2% risk in a year...?

#427,703
Apr 8, 2016 8:11am Apr 8, 2016 8:11am

SteFX85
Joined May 2015 | Status: Trader | 1,148 Posts

Quoting ghinnz

Disliked

1 trade a year? Well.., I don't know..., how many times open position you trade with that 2% risk in a year...?

Ignored

Don't know yet, still testing a strategy. Trade 12 in 2 months.
The way I see it, if it retraces farther than the 61.8 fib line the greater the chance of a reversal. So I lower my risk.

Am at +10% so I'll see in a year if it works

Btw I risk 2%... if I win I gain a lot more

grtz

What's that smell? ---- I smell money!

#427,704
Apr 8, 2016 8:13am Apr 8, 2016 8:13am

asgcorp
Joined Feb 2014 | Status: trading bank levels | 8,143 Posts

Quoting SteFX85

Disliked

{quote} Don't know yet, still testing a strategy. Trade 12 in 2 months. The way I see it, if it retraces farther than the 61.8 fib line the greater the chance of a reversal. So I lower my risk. Am at +10% so I'll see in a year if it works Btw I risk 2%... if I win I gain a lot more grtz

Ignored

you are doing a great job!

#427,705
Apr 8, 2016 8:14am Apr 8, 2016 8:14am

asgcorp
Joined Feb 2014 | Status: trading bank levels | 8,143 Posts

dollar is getting slammed atm

#427,706
Apr 8, 2016 8:14am Apr 8, 2016 8:14am

asgcorp
Joined Feb 2014 | Status: trading bank levels | 8,143 Posts

therefore GU getting some push here

#427,707
Apr 8, 2016 8:16am Apr 8, 2016 8:16am

ghinnz
| Joined Feb 2013 | Status: Trader | 7 Posts

Hei ..I was just kidding ..ok...

We all know this trading business always have risks...

Peace Bro...

#427,708
Apr 8, 2016 8:16am Apr 8, 2016 8:16am

SteFX85
Joined May 2015 | Status: Trader | 1,148 Posts

Quoting asgcorp

Disliked

{quote} you are doing a great job!

Ignored

Thank you

What's that smell? ---- I smell money!

#427,709
Apr 8, 2016 8:17am Apr 8, 2016 8:17am

SteFX85
Joined May 2015 | Status: Trader | 1,148 Posts

Quoting ghinnz

Disliked

Hei ..I was just kidding ..ok... We all know this trading business always have risks... Peace Bro...

Ignored

No problem friend,

Feedback is welcome!

Have a good one

What's that smell? ---- I smell money!

#427,710
Apr 8, 2016 8:19am Apr 8, 2016 8:19am

Don96
Joined Dec 2015 | Status: Trader | 7,803 Posts

Quoting SteFX85

Disliked

#12 Trade Plan If price opens the green zone = sell setup for 3% risk. If price opens in the yellow zone below the support pennant line = sell setup for 2% risk. If price hits the yellow zone above the support pennant line = sell setup for 2% risk. If price hits the orange zone = sell setup for 1% risk. If price opens in the orange zone = no setup. If price hits the red zone below the resistance pennant line = no setup. If price opens above the restistance pennant line = Change of Bias? Notification set @ 1.41750. Going for the double touch ...

Ignored

if you go back through your trades this year, and see which ones you took in the orange zone and risked 1% how many pips did you make from them? then compare it to how many you made from risking 3% in yellow zone... if your stop for all trades is x then perhaps switching it round so that the 3% risk trades are closer to the stops, they may lose often, but one or two winners will make up for more than a few losers... i don't know your strategy so i don't know if this is valid

#427,711
Apr 8, 2016 8:28am Apr 8, 2016 8:28am

ghinnz
| Joined Feb 2013 | Status: Trader | 7 Posts

No problem friend,
Feedback is welcome!
Have a good one

Thank you
You too ..

#427,712
Apr 8, 2016 11:45am Apr 8, 2016 11:45am

SteFX85
Joined May 2015 | Status: Trader | 1,148 Posts

Quoting Don96

Disliked

{quote} if you go back through your trades this year, and see which ones you took in the orange zone and risked 1% how many pips did you make from them? then compare it to how many you made from risking 3% in yellow zone... if your stop for all trades is x then perhaps switching it round so that the 3% risk trades are closer to the stops, they may lose often, but one or two winners will make up for more than a few losers... i don't know your strategy so i don't know if this is valid

Ignored

Hi Don96,

Thank you for your feedback. As for now I am still testing this strategy, I am only at trade 12.
I'm reviewing every trade I make and still making adjustments when necessarry.

I use fibonacci to predict the chance of a retracement or reversal. It actually looks logical to me that, the further a trend retraces, the greater the chance it will reverse.
I use the crossover of EMA 5 with SMA 8 as an entry signal. I place stop losses 5 pips above the last high or low and calculate my lotsize depending on the stop loss and the risk zone.

For now I have little data on wich trade I took in what zone because I didn't make that much trades yet.
What you are suggesting is actually a great idea.

I will review the strategy every few months and take into account in which zone I opened the trade and how many wins/losses + the pips I made.

If this strategy proves to be profitable I will use it with a live account.

What's that smell? ---- I smell money!

#427,713
Apr 8, 2016 12:16pm Apr 8, 2016 12:16pm

domba
Joined Dec 2015 | Status: AMAZING!!! | 574 Posts

Pending Setup

Attached Image

If you like my post

throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp

#427,714
Apr 8, 2016 12:37pm Apr 8, 2016 12:37pm

Don96
Joined Dec 2015 | Status: Trader | 7,803 Posts

Quoting SteFX85

Disliked

{quote} Hi Don96, Thank you for your feedback. As for now I am still testing this strategy, I am only at trade 12. I'm reviewing every trade I make and still making adjustments when necessarry. I use fibonacci to predict the chance of a retracement or reversal. It actually looks logical to me that, the further a trend retraces, the greater the chance it will reverse. I use the crossover of EMA 5 with SMA 8 as an entry signal. I place stop losses 5 pips above the last high or low and calculate my lotsize depending on the stop loss and the risk zone....

Ignored

it is a good strategy, just refine your entries/exits and filter out bad ones, but yeah i just have the idea of adjusting your risk, for example on that GU trade, maybe trades in the red could have higher risk? smaller stop, maybe aim for a small amount on every trade? for example 10/20 or so and close some of it out to cover the stop... then if you get stopped oh well 0% gain or loss, or you could get a runner and get the whole swing in, that one trade would make up for your losses on those small ones

#427,715
Apr 8, 2016 1:14pm Apr 8, 2016 1:14pm

asgcorp
Joined Feb 2014 | Status: trading bank levels | 8,143 Posts

ok guys have a great weekend, time to relax and kick back now. ))) see ya all next week.

Inserted Video

#427,716
Apr 8, 2016 3:07pm Apr 8, 2016 3:07pm

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

Quoting asgcorp

Disliked

ok guys have a great weekend, time to relax and kick back now. ))) see ya all next week. https://www.youtube.com/watch?featur...&v=QhdtnOAMWtg

Ignored

global macro ?