1-2 pip Stop Loss

I am a terrible trader.

Since I took my first trade on the Australian stock market on the 18th of September, 2013.

I did Tim Sykes, Trade Empowered, Baby pips, and numerous other programs.
I've also attempted to go for the Prop shops, but, as I said, (in other words) I didn't have the skill for that.

Simply because I all too often have changed my strategy according to the next big thing on FF or what my mates were trading. Ichy systems or Spreading it didn't matter, I've taken a shot at it.

After all that searching I came up with 4 certainties.

1) Stochastics are my favorite indicator - simple, no color changes, use on any chart type.
2) I had to find a strategy that had a 1 or 2 pip stop loss and a major upside.
3) Trading is way more difficult when you're not looking at Renko charts.
4) I was made for the minute charts, not the hourly or the daily charts.

Recently I came across the Trading Made Simple thread which is very interesting and a good read, but it was still too dangerous for me with the fact that it was for swing trading and didn't quite fit to what I was trying to achieve.


What I was trying to achieve was a strategy that had a 1 or 2 pip stop loss and worked on the lowest time frame, or Renko bar size.

Here's what I've got.... so far.

I have to go now, so I'll write the rest later...

its very difficult trade with small stope loss like 1 2 pips..mostly SL will hit

We will see, I'm trading on the 1 minute charts which make it even more difficult. There's just so much room for them to turn in an instant and then you're the 1 pip out of the trade.

The stoploss is currently and 2.5 on the trade manager so it's not hitting it too often, and I'm only mini lots at the moment.

Here's another thing you're not going to like. I only trade live so if I do make mistakes, they hurt more. Once the system is purely mechanical, I will write more on it..
Until then, this is just a journal

may be I missed something but are you trading renko charts(non time dependant but pip movement from my understanding) or one minute charts? or a combination of the two for cross reference?
either way GL.

Yeah a combination of the two, 4 hour for long term trend, then 1 minute/1 renko bar charts for the actual entry (I alternate a little bit, but renko takes 70% of my attention).

Stoch with renko has it's own Higher lows and Lower High patterns and therefore with the 1 renko bar can be pretty exact and less of a nail biter.

Another thing for you to remember is that I trade during the Jap and the Euro session crossover, so it's also a lot slower than the US session, A LOT SLOWER!!

System hopping won't do anybody any good; only deliberate practice brings out excellency.

Compared with other instruments, Forex, Precious Metal in lower timeframe are much harder to trade due to their highly volatile nature.

Keep it up mate.

I understand that it is difficult Tardigrade, I certainly understand the risks. But I was sick of waiting for the next setup and the next and the next. This is all about a high volume trading, taking between 20-50 positions a day.

Every battle is won before its ever fought. ― Sun Tzu

Before the real battle begin, choosing the proper daytrading instrument is top priority.

Try stay away from the majors.