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Monthly Profit - Daily Trading using SMA

  • #3,181
  • Sep 19, 2016 10:36am Sep 19, 2016 10:36am
Quoting Bk8
{quote} I do not think screenshot is from E/A
BK8, please pretty please, write your trades today, with the entry prices, I cannot find your original post!
  • #3,182
  • Sep 19, 2016 10:36am Sep 19, 2016 10:36am
Quoting chiche
Hey guys sorry, I know is a stu... question but I can not find the answer... what period is the BB? 14? 5? Thanks
Default setting : 20,0,2. Cheers
Human beings are members of a whole, In creation of one essence and sol.
  • #3,183
  • Sep 19, 2016 10:38am Sep 19, 2016 10:38am
Quoting jmmn
My issue here is that my stop loss is very far from my entry... Any suggestions? https://www.mql5.com/en/charts/58087...ncial-services
On daly chart the sl are big my friend and I know what you feel...
Calcutate you position size and dont risk more than 5%.
  • #3,184
  • Sep 19, 2016 10:40am Sep 19, 2016 10:40am
Quoting chiche
{quote} Thanks mate, my default is 14... anyway I use 20. Hope this work.
Read 1st post , if you don't understand something , then , ask a question
  • #3,185
  • Sep 19, 2016 10:45am Sep 19, 2016 10:45am
Quoting MrRijk
{quote} Default setting : 20,0,2. Cheers
Thanks.
  • #3,186
  • Sep 19, 2016 10:45am Sep 19, 2016 10:45am
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
Quoting chiche
{quote} On daly chart the sl are big my friend and I know what you feel... Calcutate you position size and dont risk more than 5%.
Thanks, chiche... Yes, a lot of fear... What happens is that I am trying this system first time and with gbpjpy and the previous candle is so big...

All the best!
  • #3,187
  • Sep 19, 2016 10:50am Sep 19, 2016 10:50am
Quoting jmmn
My issue here is that my stop loss is very far from my entry... Any suggestions? https://www.mql5.com/en/charts/58087...ncial-services
Hi Jmmn,

I'm a newbie so I dare not comment too much. But I would like to share with you my experience and psychological and emotions portion. Always ask yourself can you stomach the risk?

I started off as a newbie listening to people and those signals, and nice, I lose more than $6K in my capital. But after that, I spend a lot of time reading up and asking myself. Why people are telling you to risk 1% to 2% of your capital in each trade? And what is your position size?

Reason is simple, you cannot be always on the winning side. At the same time, you can't be so unlucky (like me) keep losing as well.

Assuming you have a capital of $10K, this means each trade your Stop Loss should be either $100 or $200 (1% or 2%). Ask if today you walk on the road and lost $100.. what would you do? Well, eat bread for the next 2 to 3 days to save up. Nothing matters at all to you. Lol.. then your risk is good to go at 1%.

With risk management in place, always go for 1:2 or 2:1 (whatever you name it the way) ratio the min. Meaning you risk $100, your TP must be a place where it can reach $200. Or somewhere closes to it like 190pips, 192pips, 198pips, or 201pips, etc. assuming 1 pip is $1. <-- If you cannot measure a potential TP area, DONT RISK IT until you are professional enough to know how to open multiple positions (or 3 positions closing 2 and leaving 1 to run).

If you maintain this management, you need to only win 4 times out of 10 times (40% winning ratio) and still be profitable. <-- this was taught to me by one of my trading friend.

I hope my reply helps and lastly, I'm still learning friend.. LOL.

Cheers!
Newbie Noob Trading
  • #3,188
  • Sep 19, 2016 10:58am Sep 19, 2016 10:58am
Quoting jmmn
{quote} Thanks, chiche... Yes, a lot of fear... What happens is that I am trying this system first time and with gbpjpy and the previous candle is so big... All the best!
When you start, try baby steps (small position) so you can get used to the fear of being in the red and learn to trust. I felt the same way not so long ago, it will feel better, cheers M
  • #3,189
  • Sep 19, 2016 11:02am Sep 19, 2016 11:02am
Quoting Bk8
{quote} I did not mean to I will be happy to explain how I filtered these setups.
How did you filter them out?
  • #3,190
  • Sep 19, 2016 11:14am Sep 19, 2016 11:14am
Hi Bk8, I have some questions on how to handle the SL:
1. If 2 positions of 1 pair are in profit but the 1st one still doesnt hit the TP (=SL), do you move SL for both in next day?
2. If 1st position hit TP the will you move SL of 2nd one to break even or to the highest/lowest of previous candle +/- 15 pips?
Thanks!
  • #3,191
  • Sep 19, 2016 11:41am Sep 19, 2016 11:41am
Quoting Bk8
Dear Guests, Please read post#1 and and wait till 5:00 PM to get started, it wont help anyone if we keep posting unnecesary questions. Please see below, how others are struggling due to so many posts "I write the Moderator is reviewing my message. With the speed of your thread no one will be abe to see it Thanks in advance for your help." "
Or send them in chat room and a lot of people are available to help them out. They are feeling tired of making money anyway.
  • #3,192
  • Sep 19, 2016 11:46am Sep 19, 2016 11:46am
Dear people, I did not take any trades today. Any ideas as to how to handle any possible pullbacks to enter, or new set ups? Since I am 2 hours in front of London time, it is not a convenient time to wait for spreads to go back to normal - that would be at least 1 a.m. for me. Any ideas and suggestions welcome!
  • #3,193
  • Sep 19, 2016 11:48am Sep 19, 2016 11:48am
Quoting shimmering
Dear people, I did not take any trades today. Any ideas as to how to handle any possible pullbacks to enter, or new set ups? Since I am 2 hours in front of London time, it is not a convenient time to wait for spreads to go back to normal - that would be at least 1 a.m. for me. Any ideas and suggestions welcome!
Sunday is usually the same issue for me, I still entered the trades this morning though when i woke up. During the week should be ok though? spreads aren't that bad in the evenings.
So many in the Commercial section want to make me rich! :o
  • #3,194
  • Sep 19, 2016 11:50am Sep 19, 2016 11:50am
Guys i don't have any indicator to share exept 5Moving average and Bollinger Bands with deep respect for you all mizi123. These is the best my result ever reached via these thred rules as you see my entry. My charts look's like these most of them!!
Attached Image (click to enlarge)
Click to Enlarge Name: mob.png Size: 37 KB
  • #3,195
  • Sep 19, 2016 11:54am Sep 19, 2016 11:54am
Quoting shimmering
Dear people, I did not take any trades today. Any ideas as to how to handle any possible pullbacks to enter, or new set ups? Since I am 2 hours in front of London time, it is not a convenient time to wait for spreads to go back to normal - that would be at least 1 a.m. for me. Any ideas and suggestions welcome!
If you want to be a little risky,you can take a position on Friday , just before the close..but on the other hand ,you don't know ,where it will open..it could be a big gap..and the swap
Read 1st post , if you don't understand something , then , ask a question
  • #3,196
  • Sep 19, 2016 11:59am Sep 19, 2016 11:59am
Quoting FX-Flux
{quote} Sunday is usually the same issue for me, I still entered the trades this morning though when i woke up. During the week should be ok though? spreads aren't that bad in the evenings.
Well, you acted smarter than me. I have the problem that I hate entering once the move has started, but I forget that it will continue, especially when it is a strong one! Any ideas as to what to do now about the A/C, E/A - I was thinking of doing limit orders - for A/C at 0.7364, and for E/A at 1.4863. And A/N at 1.0304.
  • #3,197
  • Sep 19, 2016 12:19pm Sep 19, 2016 12:19pm
Quoting shimmering
{quote} Well, you acted smarter than me. I have the problem that I hate entering once the move has started, but I forget that it will continue, especially when it is a strong one! Any ideas as to what to do now about the A/C, E/A - I was thinking of doing limit orders - for A/C at 0.7364, and for E/A at 1.4863. And A/N at 1.0304.
Well take a look at mine. I maybe should have just taken this on the open, but as you can see it is still going in our favour.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-09-19 at 18.16.54.png Size: 57 KB
So many in the Commercial section want to make me rich! :o
  • #3,198
  • Sep 19, 2016 12:28pm Sep 19, 2016 12:28pm
Quoting mizi123
Guys i don't have any indicator to share exept 5Moving average and Bollinger Bands with deep respect for you all mizi123. These is the best my result ever reached via these thred rules as you see my entry. My charts look's like these most of them!! {image}
Appreciate it, Thanks very much mizi123, I hope you understand our point. We do not want traders to give up forex and we will also help so many jobless to make money, isn't amazing?
  • #3,199
  • Sep 19, 2016 12:34pm Sep 19, 2016 12:34pm
Quoting jmmn
{quote} Thanks, chiche... Yes, a lot of fear... What happens is that I am trying this system first time and with gbpjpy and the previous candle is so big... All the best!
Can you tell me where?
Attached Image (click to enlarge)
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  • #3,200
  • Sep 19, 2016 12:37pm Sep 19, 2016 12:37pm
my TP's so far. second trades are still running
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 20 KB
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