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Making 100% profit Weekly

  • #21
  • Oct 12, 2016 7:05am Oct 12, 2016 7:05am
What a trader... Good job dude... I have a same trading pattern as you are, max lot when big trend are clear.... but I can't believe you did this better than me XD

and too sad coz I still use demo lol.
  • #22
  • Oct 12, 2016 7:43am Oct 12, 2016 7:43am
Quoting ZenNy
{quote} I am looking forward for you in making your 100% a week. Do you trade always the 5m chart? And how much you risk per trade?
i count the wave with Renko boxes as it is easier to see it that way. When the wave is very clear i risk higher. like this morning the 3 wave on GA was very clear. Just that it did not get to my expected point before reversing to my trailed stop.
i have tried to start trades with a trend, now i prefer to follow the trend
  • #23
  • Oct 12, 2016 7:49am Oct 12, 2016 7:49am
Quoting Aromos
{quote} Hi, how do you use wave 3? DO you scalp?, how much risk are you using and what is RR?
For how i use was 3, i have trained myself to know it. Arrange indicators to help you identify same pattern of wave 3. i scalp most times like 90% of the time. i risk a MAX of 25pips stop loss while hoping to get at least 25pips most times. i have seen that if i wait for the best wave 3. i can be correct say 8/9 times out of 10. so i tend to use same lot size each week. like this week my max lot is 1lot. when i hit 100% this week i will increase my lot next week.
i have tried to start trades with a trend, now i prefer to follow the trend
  • #24
  • Oct 12, 2016 7:55am Oct 12, 2016 7:55am
Quoting IPMan
What a trader... Good job dude... I have a same trading pattern as you are, max lot when big trend are clear.... but I can't believe you did this better than me XD and too sad coz I still use demo lol.
it might not be that i really do it better. Its just that right now, i prefer to be a sniper than a soldier using machine gun spraying His bullets randomly. Every bullet is important to me and should have high probability to hit target. What else am i looking for when i can carefully target 100% each week without much stress. So am not looking at making 5,000pips in one week. i simply target to make 100% this week. Next week will take care of itself.
i have tried to start trades with a trend, now i prefer to follow the trend
  • #25
  • Oct 12, 2016 8:17am Oct 12, 2016 8:17am
Quoting jereajali
{quote} i count the wave with Renko boxes as it is easier to see it that way. When the wave is very clear i risk higher. like this morning the 3 wave on GA was very clear. Just that it did not get to my expected point before reversing to my trailed stop.
On the trade you made 307%, what percentage of you capital you risked?
trading is simple but is simple is not easy.
  • #26
  • Oct 12, 2016 8:31am Oct 12, 2016 8:31am
Quoting jereajali
I trade wave 3. Through the years i have been studying Wave 3. Now, i see it. Some wave 3's are so clear/certain to me that i risk much. others are not too clear so i risk little. The problem in counting the waves is that everyone sees/counts differently. In other to avoid this you need arrange various indicators to help you see same pattern over and over again................ {image}
I have just seen your trading strategy with Wave Patterns. I too face the difficulty in identifying the waves precisely due to constant change in the price action. Perhaps you can use the 3_level semafor indicator(download from the net), which works based on the Elliot theory to identify the waves 1, 2 and possible wave 3.

Fx
  • #27
  • Oct 12, 2016 8:31am Oct 12, 2016 8:31am
Quoting ZenNy
{quote} On the trade you made 307%, what percentage of you capital you risked?
about 30%. i did this cos i was like 98% sure of wave 3 on this trade. like i said before, my risk level depends on how clearly i see wave 3.
i have tried to start trades with a trend, now i prefer to follow the trend
  • #28
  • Oct 12, 2016 10:54am Oct 12, 2016 10:54am
I usually double my account in a week too,and I'm a scalper,but the real problem is it's not consistent.
  • #29
  • Oct 12, 2016 11:58am Oct 12, 2016 11:58am
Quoting jereajali
{quote} i count the wave with Renko boxes as it is easier to see it that way. When the wave is very clear i risk higher. like this morning the 3 wave on GA was very clear. Just that it did not get to my expected point before reversing to my trailed stop.
Can you pl let me know the best renko box size in which the wave pattern is near perfect?

Fx
  • #30
  • Oct 12, 2016 3:10pm Oct 12, 2016 3:10pm
Quoting Forexv
I usually double my account in a week too,and I'm a scalper,but the real problem is it's not consistent.
Welcome to trading...
trading is simple but is simple is not easy.
  • #31
  • Oct 12, 2016 3:45pm Oct 12, 2016 3:45pm
Quoting jereajali
{quote} about 30%. i did this cos i was like 98% sure of wave 3 on this trade. like i said before, my risk level depends on how clearly i see wave 3.
I see...So what do you risk in percentage normally?

Personally I am risking 8% on one account trading the 5m time frame only GU and EU.
trading is simple but is simple is not easy.
  • #32
  • Oct 12, 2016 4:03pm Oct 12, 2016 4:03pm
Quoting Fx-optimus
{quote} Can you pl let me know the best renko box size in which the wave pattern is near perfect? Fx
Any box size will work but i use 10pips boxes .
i have tried to start trades with a trend, now i prefer to follow the trend
  • #33
  • Oct 12, 2016 4:07pm Oct 12, 2016 4:07pm
Quoting Forexv
I usually double my account in a week too,and I'm a scalper,but the real problem is it's not consistent.
i too was not consistent at a time, but i kept working on me. its better now. so keep working. let every mistake make you better from what you learn from it.
i have tried to start trades with a trend, now i prefer to follow the trend
  • #34
  • Oct 12, 2016 4:10pm Oct 12, 2016 4:10pm
Quoting ZenNy
{quote} I see...So what do you risk in percentage normally? Personally I am risking 8% on one account trading the 5m time frame only GU and EU.
mostly around 20%. i am always thinking of breaking even after i enter a trade.
i have tried to start trades with a trend, now i prefer to follow the trend
  • #35
  • Oct 12, 2016 4:41pm Oct 12, 2016 4:41pm
Quoting jereajali
{quote} mostly around 20%. i am always thinking of breaking even after i enter a trade.
Yes..good point...

If I my entry bar is strong I trail my SL from above the signal bar to above the entry bar (short), if is not so strong I wait for a new swing LL to trail my stop.
trading is simple but is simple is not easy.
  • #36
  • Oct 12, 2016 9:30pm Oct 12, 2016 9:30pm
Brother jereajali, great tips of the renko boxes

Anyway, did you catch some pips with GJ just now?

Have a nice day!
  • #37
  • Oct 12, 2016 11:41pm Oct 12, 2016 11:41pm
Quoting liaw1990
Brother jereajali, great tips of the renko boxes Anyway, did you catch some pips with GJ just now? Have a nice day!
lol, yes. Renko makes it easy. i was asleep for the GJ trade. Just woke up and will wait for opportunities.
i have tried to start trades with a trend, now i prefer to follow the trend
  • #38
  • Oct 13, 2016 1:52am Oct 13, 2016 1:52am
Won't last.. will end badly
The only system that will work is one designed by and for yourself.
  • #39
  • Oct 13, 2016 4:14am Oct 13, 2016 4:14am
Some Persons have been sending me PMs asking how i trade. i will summarize it here. if you like my style, you can make a similar system.
1. i trade with Renko boxes. (10 pips)
2. i have indicators that tell me trend. Assume you have 6 different indicators showing trend direction. If all 6 are saying sell and i see a wave 3 in sell direction, i risk much. if say 5/6 indicators saying sell my risk is reduced. etc.
3. i scalp most times with good stop loss. in fact i have an EA that sets my SL after i enter a trade. Cigarman gave it to me. You can have it too.

The rest you have to figure out yourself.
Attached File(s)
File Type: ex4 WUKAR_WB_Trail_v1_3_2e.ex4   28 KB | 549 downloads
i have tried to start trades with a trend, now i prefer to follow the trend
  • #40
  • Oct 13, 2016 7:01am Oct 13, 2016 7:01am
Quoting jereajali
Some Persons have been sending me PMs asking how i trade. i will summarize it here. if you like my style, you can make a similar system. 1. i trade with Renko boxes. (10 pips) 2. i have indicators that tell me trend. Assume you have 6 different indicators showing trend direction. If all 6 are saying sell and i see a wave 3 in sell direction, i risk much. if say 5/6 indicators saying sell my risk is reduced. etc. 3. i scalp most times with good stop loss. in fact i have an EA that sets my SL after i enter a trade. Cigarman gave it to me. You can...
how do you define wave 3 ? after definition of wave 3,where is the exact point of entry?
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