And I would appreciate some good guidance
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Disliked{quote} Wow! Really great result. Congratulation I racked 190pips only. But that is already considered alot for myself. Last but not least thanks Bk8Ignored
Edit: and I use EMA not SMA
Disliked{quote} I don't follow these two rules (in white) Avoid Lower timeframe charts, even H4 is not reliable. Risk - Do not take positions more than 5% of account value and do not take multiple positions on same pair, even setup is 100% correct Sideways pattern Edit: and I use EMA not SMAIgnored
Disliked{quote} Wow! Really great result. Congratulation I racked 190pips only. But that is already considered alot for myself. Last but not least thanks Bk8Ignored
Dislikedhi bk8 my open trad pls tell me eruaud and audsgd now confim signal ? {image}Ignored
DislikedHi Bk8, I came across your post this morning and I really like that simple way of trading, also a big fan of trading the D1. I'll be giving it ago this week for sure. Cheers & Thanks ! BobIgnored
DislikedGuys, remember you will have losers, best traders in the world have losers, it's all about money management and risk. You may have took a trade and lost from yesterday, but look at GBPAUD, it's flying, and has potential to be a steam train runaway and not only cover your losses but close in profit too, covering the losses and adding on top. This is why in the long run if you stick to the rules, take the losers as part of trading, and allow the winners to run, you will always end out on top in the long run.Ignored
Disliked{quote} +1. Also I want to add in, think in terms of percentage or R:R ratio. 1 tiny pips can outcome 100 pips in dollar amount. It's the lot size talking. Somebody can gain 1000 pips but only get 4 % on account gain, while others can gain only 30 pips but get 30% on account gain. My main point is, pip count does nothing in money management. It's the lot size & stoploss size related to account size that determine you're doing a good money management or not. Happy weekend everybody.Ignored
Disliked{quote} +1. Also I want to add in, think in terms of percentage or R:R ratio. 1 tiny pips can outcome 100 pips in dollar amount. It's the lot size talking. Somebody can gain 1000 pips but only get 4 % on account gain, while others can gain only 30 pips but get 30% on account gain. My main point is, pip count does nothing in money management. It's the lot size & stoploss size related to account size that determine you're doing a good money management or not. Happy weekend everybody.Ignored
Disliked{quote} Question : Why you don't enter on 1 candle before? The candle already cross MA 5.Ignored
Disliked{quote} I think you are missing the point... think about traders like me who want to develop a sustainable strategy for others who is desperate to earn 20 pips per day, I want to provide a platform where they can get 100+ pips..Ignored
DislikedMy Top Contributors So far @Fx-Flux (My Tech Expert Trader) @Yonnnie (my lucky charm and best friend) @Ghibli (My intelligent tech Trader) @Saraga (Cute but very Smart) @Jakepuia(Cute but smart) @Chake (Low profile but a great helper) @hammadshahir(Honest and Smart) @BuffaloPat( (honest and Smart) @MrRijk...
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Disliked{quote} Hi Dean - I love your posts, to the point and crystal clear. Trust me, SMA (5,3) is still working for meyesterday someone asked about the importance of shift and when I compared, earlier I tried to defend 5,3 but I finally gave up since I did not find any solid reason why 5,0 is not better than 5,3. I think you would agree that changing the shift from 3 to 0 is just settings, Strategy is still same?
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Disliked{quote} I keep checking setups all day beacuse I want to keep this thread active, help others and seek feedback from senior members like Dean, Mike, Yonnie and others Ideally we need to spend 15 daily when new candle starts.. you should not be checking setups all the time, in worst scenario your SL will be triggered so what.. please read Dean's posts on how traders execute same startegy differently and they complain later why some are profitable and some are losers.Ignored
Disliked{quote} As @yonnie mentioned that previous candle had long wick that makes setup unstable. Also, we should take position when first candle opens right after candle setup on Day 1 since first candle has better probability i.e. 80% chances that put you in steam train (@Dean's beautiful explanationso that if next candle goes against you, nothing to lose and we will end up with breakeven.
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Disliked{quote} MrRijk- just to clarify, we can easily figure out sideways without adding anything... but since dean is associated to this thread from day 1. to respect his thoughts I am also going to test again for next few days.Ignored