Hi- Can anyone kindly tell me where they set the Take Profit and Stop loss? I know Mehdi said he waits until the position moves 20-25pips in his favour then he will break even to 5 pips below the opened position? How about take profit?
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Dear friend, there is different methods based on your money management strategy. you can consider big round numbers, or 200 EMA for your TP if you do not want to follow the TDI signals for exit. It is totally up to you and your strategy and target of your week.
{quote} Hi mehdi, I am actually following your rules but it's not that simple. I think a detail is missing because there is a lot of losses to expect 500 pips a week. Lately nzd/usd and nzd/chf are losers. Right now usd/jpy is a loser. Waiting for aud/nzd..... I had great weeks with your method. But all the profit vanished in a week also. That's why I think we need to add something. Please share your thoughts. Quincy
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That is why you need a good money management. To All, This system gives you a very good entry and exit points. But if you want to make good and constant profit, you have to take into account the basic of forex trading rules.!!!! Because of that I said read " Trading made simple" to find the concept of TDI. when you see you have many green pips, here is the point to keep them. Again, money management, money management, money management. Trading forex is not only a good system, you need to learn basic rules and find the best money strategy for yourself.
I tried to upload all my weekly trades with details, but during uploading the last graph, all attached file were missed. I will do later again if I have time.
GBPJPY: -30 method 2 reason for close: TDI flat ( not a good entry as the currency was in a range !!!) That was the only negative pips I had in thelast week . USDNOK: +285 method 2 reason for exit: TDI flat {image} {image}
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Hi Mehdi- thanks for posting your charts.
The USDJPY and USDNOK charts show the entry but the STOCH isnt over 80 where your arrows indicate entry? I am confused here slightly because you mentioned at the beginning of your thread that for Method 1 the stoch must be over 80 to enter...???
{quote} Hi Mehdi- thanks for posting your charts. The USDJPY and USDNOK charts show the entry but the STOCH isnt over 80 where your arrows indicate entry? I am confused here slightly because you mentioned at the beginning of your thread that for Method 1 the stoch must be over 80 to enter...???
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We have two methods. If you read the first page, method 2 is what i used for them
{quote} When your eyes are familiar with stoch, you can easily use for any charts.
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Ok i wasnt sure- sp now i know you can use both methods for daily too and vice versa.
How do you guys manage stop loss? do you let the trade ride until take profit or use mehdis method where he puts stop loss 5 pips behind open position once trade is 20-25 pips in his favour?
Lower risk, stress free TDI system
