Even though I walk through the darkest valley, I will fear no evil
Psych Levels, Pivots, and Trendlines - Resurrected
- #11,942
- Feb 6, 2017 11:44pm Feb 6, 2017 11:44pm
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Didn't post for a while. Focus nice trading !!! Keep it up !!!
I had this 2 trades AU. I wanna talk about MM.
I risk 1% per trade, so lets say you have $1000 on your account, so you risk $10 per trade.
1st Trade : my risk was 7 pips, my target 21 pip, it is 1 to 3, I risk 1% ($10) to make 3%($30), price reached my target I made 3%. It is simple
2nd trade : pennant around pivot, who says M1 to fast, you had 4 mins to enter that trade. my Sl was 4 pips, my target 8 pips, so it is 1 to 2, risk $10 to make 20, but I still have target from first trade, and price reached it, so on the second trade I made 16 pip instead of 8, and it gave me 4% profit ($40). I did expect my first target to reach, so when priced reached 8 pips target of the second trade, I simply moved to BE and just relaxed.
In total 2 trades, 21 pips and 16 pips, and 7% in to account.
MM helps to increase your profit. If you remember turtle system, very famous back of the days, and still making money, those guys made billions, but win rate of that system was only 20%, 80% loosing trades and they made money. How did they make it ? Applying own money management
I had this 2 trades AU. I wanna talk about MM.
I risk 1% per trade, so lets say you have $1000 on your account, so you risk $10 per trade.
1st Trade : my risk was 7 pips, my target 21 pip, it is 1 to 3, I risk 1% ($10) to make 3%($30), price reached my target I made 3%. It is simple
2nd trade : pennant around pivot, who says M1 to fast, you had 4 mins to enter that trade. my Sl was 4 pips, my target 8 pips, so it is 1 to 2, risk $10 to make 20, but I still have target from first trade, and price reached it, so on the second trade I made 16 pip instead of 8, and it gave me 4% profit ($40). I did expect my first target to reach, so when priced reached 8 pips target of the second trade, I simply moved to BE and just relaxed.
In total 2 trades, 21 pips and 16 pips, and 7% in to account.
MM helps to increase your profit. If you remember turtle system, very famous back of the days, and still making money, those guys made billions, but win rate of that system was only 20%, 80% loosing trades and they made money. How did they make it ? Applying own money management
Even though I walk through the darkest valley, I will fear no evil
Didn't post for a while. Focus nice trading !!! Keep it up !!!
- #11,950
- Mar 1, 2017 2:16am Mar 1, 2017 2:16am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #11,951
- Mar 1, 2017 3:20am Mar 1, 2017 3:20am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #11,952
- Mar 1, 2017 4:16am Mar 1, 2017 4:16am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #11,954
- Mar 2, 2017 5:19am Mar 2, 2017 5:19am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #11,957
- Mar 3, 2017 3:23am Mar 3, 2017 3:23am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #11,958
- Mar 3, 2017 3:28am Mar 3, 2017 3:28am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #11,959
- Mar 3, 2017 3:29am Mar 3, 2017 3:29am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
{quote} hello !! Each pear has own set up, it is really rear when two pairs have set up at the same time. Make a set of rules for your best set up, do back testing and see which of your traders have the best win rate, for example trend+break of level+flag+divergence, by combining all together you have win rate 80%, so you start trading only this set up. It is better to have 2-3 set ups, with win rate 60-70%, and spread you risk according to win rate, higher win rate gets max risk per trade, for me it is 2%. Sl can be above the pattern + spread,...
Took one trade on UJ, I believe it fits perfectly on your methodology
thinking outside the box