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Monthly Profit - Daily Trading using SMA

  • #4,361
  • Sep 25, 2016 1:33pm Sep 25, 2016 1:33pm
Quoting Holy pips
... BK8 recommends that you don't risk more that 5% per trade, so i thought it would be handy to show what the lot size would be based on the stop loss being +/- 15 pips either side of the High/Low of the previous candle. Isn't 5% per trade too high a risk, especially when you have over three good signals. Does your script work with Gold and Silver trades also?
For the simple question if the candle crossed the MA on Gold or Silver - Yes
For calculating the lot size of Gold/Silver based on Stop Loss - No

The only reason I wanted to make this is because unless you are using a special calculator for trading symbols that do not contain your account currency, it can be a little time consuming to work our if you are trading the correct lot size for your account balance/free margin.
So many in the Commercial section want to make me rich! :o
  • #4,362
  • Sep 25, 2016 1:39pm Sep 25, 2016 1:39pm
Trader Dante table ... read guys this carefully and make your own conclusions concerning risk per trade...

Attached Image (click to enlarge)
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  • #4,363
  • Sep 25, 2016 1:41pm Sep 25, 2016 1:41pm
hey guys what.s setup monday?
  • #4,364
  • Sep 25, 2016 1:56pm Sep 25, 2016 1:56pm
My Setups for Monday
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  • #4,365
  • Sep 25, 2016 2:05pm Sep 25, 2016 2:05pm
My setup just Aud/Chf. Good luck!
  • #4,366
  • Sep 25, 2016 2:06pm Sep 25, 2016 2:06pm
[quote=pipolo;9159850]My Setups for Monday {image} {image} {image} {image} {image} {image}[/
eur/jpy i see one of the best setups....
  • #4,367
  • Sep 25, 2016 2:09pm Sep 25, 2016 2:09pm
Quoting pipolo
My Setups for Monday {image} {image} {image} {image} {image} {image}
AUDCHF & EURJPY seems good.
I Win, I Lose, It's my Job... And I Love it!
  • #4,368
  • Sep 25, 2016 2:23pm Sep 25, 2016 2:23pm
Will NOT take and why :

AUD/CHF - for me , the candle it's to small ,specially the body..
USD/CAD - looks good , but to close to the upper BB to take at least 1:1 RR
EUR/JPY - also looking good, but the candle is small..body 46 pips and upper wick 28
EUR/CAD - looks tasty , but just like in the USD/CAD case..

No trades for me Today, still have some from Friday..
Read 1st post , if you don't understand something , then , ask a question
  • #4,369
  • Sep 25, 2016 2:34pm Sep 25, 2016 2:34pm
Thanks Ghibli.
  • #4,370
  • Sep 25, 2016 2:49pm Sep 25, 2016 2:49pm
Quoting BlackNapkins
Trader Dante table ... read guys this carefully and make your own conclusions concerning risk per trade... {image}
Hi,

thank you for the chart. Could you please explain, what this means? I try, but I dont understand... Thank you
  • #4,371
  • Sep 25, 2016 2:50pm Sep 25, 2016 2:50pm
Quoting Csenge
Thanks Ghibli.
Read 1st post , if you don't understand something , then , ask a question
  • #4,372
  • Sep 25, 2016 2:54pm Sep 25, 2016 2:54pm
Quoting kleybenny
{quote} Hi, thank you for the chart. Could you please explain, what this means? I try, but I dont understand... Thank you
example - If you have 85% success out of 50 trades, you have 15% chance of hitting 3 losers in a row. figure it out from the chart.
  • #4,373
  • Sep 25, 2016 2:55pm Sep 25, 2016 2:55pm
Hello all,

Has anyone tried anticipating a retrace for the days move before entering?

If the days retrace is small enough to fit your risk tolerance then enter at the daily open when price returns. If the retrace is too large, pass and wait for a tighter entry...

Essentially your halving your potential loss as the current days low is tested sup/res
Attached Image
  • #4,374
  • Sep 25, 2016 2:57pm Sep 25, 2016 2:57pm
Quoting bluejack
{quote} example - If you have 85% success out of 50 trades, you have 15% chance of hitting 3 losers in a row. figure it out from the chart.
ahh ok, thank you Thats logical.

Thank you mate
  • #4,375
  • Sep 25, 2016 3:41pm Sep 25, 2016 3:41pm
Quoting Bk8
{quote} Performance Summary Setups from previous week G/A +600 Pips!!!!!! (Second Position) G/CHF + 360 Pips!!| (Second Position) A/U + 101 Pips! (Second Positon) EUR/CHF +10 Pips (Second Position Closed) Setups from Sunday A/CHF +42 Pips (Second Position Closed) E/CAD + 38 Pips (Second Position Closed) E/AUD +160 Pips! (Second Position) Setup from Wednesday USD/CAD ( 1st Position +60 Pips, 2nd Position Breakeven -15 pips Closed) Setups from Thursday GBP/NZD + 5 Pips (Reversed after 60 pips profit) NZD/CAD - 5 Pips (Revered after 78 pips profit...
Today's Setups (chances 70%)

Long EUR/JPY
Short A/CHF

Good Luck!
  • #4,376
  • Sep 25, 2016 3:56pm Sep 25, 2016 3:56pm
Quoting Bk8
{quote} Today's Setups (chances 70%) Long EUR/JPY Short A/CHF Good Luck!
Hi man,

can you elaborate a bit on why you chose the pairs?
In spite of the upcoming high impact news?

Thanks,
Hrvoje
#noFomo
  • #4,377
  • Sep 25, 2016 3:57pm Sep 25, 2016 3:57pm
Quoting hrvoje
{quote} Hi man, can you elaborate a bit on why you chose the pairs? In spite of the upcoming high impact news? Thanks, Hrvoje
Please read #1 and let us know if you still have any question.
  • #4,378
  • Edited 4:10pm Sep 25, 2016 3:59pm | Edited 4:10pm
Quoting Bk8
{quote} Today's Setups (chances 70%) Long EUR/JPY Short A/CHF Good Luck!
you`re not scared of the large wick and small candle of A/CH compared to N/CH for instance?
  • #4,379
  • Sep 25, 2016 3:59pm Sep 25, 2016 3:59pm
Quoting Bk8
{quote} Please read #1 and let us know if you still have any question.
I read the whole thread, I would still like to know how you got to 70% chance.
#noFomo
  • #4,380
  • Sep 25, 2016 3:59pm Sep 25, 2016 3:59pm
Hi,

How do you guys manage the high spread at the times where the new candle forms?

Thanks!
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