My GBP Trading recommendations & Journal - page 11
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sell 3 lots G/J @ 247 and your stop @ 248.50 for now..your first target is 246.50 as usual and we'll move the SL then..have a nice one
Ok closed 1/3 of the position on 246.50 and moveed the SL to BE congratulations on your first 5o pips of the week
we clsed lot #2 @ 246.00 and now we're left with the last one which we will hold as much as we can untill we have an opposite signal or the SL which is on the BE get hit, congratulations on 150 pips till now
Our SL got hit for the rest of the position @ BE..so all we made is 150 pips;)
Our SL got hit for the rest of the position @ BE..so all we made is 150 pips;)
Hi Cementman,
nice nick!
Please, I read first post - rules and I have question. I understand your style. but do not know, what is your entry signal?
Your picture: GBPUSD
TF H1
200SMA
RSI14
MTF Stoch 10,3,3 at W1
Stoch 90,75,3
Why GBPJPY at 247 yesterday? How plan trade?
Sorry for my poor english and studid question, but better be five min. idiot that all life thickhead.
frantacech.. the picture that i've attached earlier is to prove one point that it was faced by the 200 SMA and it needs to be broken before any thing and as you saw Simba for instance was long before that.. what does that mean that every one has his own technique and both of them might be ok cuz Simba made money and i got long from another point and i made money, the other thing is it was only for showing the case with 200 SMA but the other indicators is for some stuff which i'm testing, see the trader is like a doctor you have to keep observing and working on your strategy to stay fit like the doctors keep reading researches and papers about new medicines and there is a big difference between refining your entry and testing new technique and switching from strategy to another which i never do, i stick to my method for years some time and again the least important IMHO is the strategy.. let me tell you something i keep teaching my friends and relatives about forex and don't get me wrong i don't take money for doing that cuz i'm not selling any thing but its just that they are here so they come and set with me for a couple of time(so if you're in Egypt come and visit me
) and i give them a simple break out system or simple moving average system like the ones i mentioned at the beginning of this thread and they come back to me telling me that they doubled the money in less than a month working religiously following the system and not putting more than 5-10 % in each trade and on 2 pairs only and i'll attach you one of the statement that i have its a demo so nothing to worry about and he opened an account later and made a little under this figure about 70% of it..any way some times ignorance is a bless cuz if you don't know and you're convinced that you don't know you start asking for mentoring and when you do you start following each and every thing your mentor tells you, he is like a God to you, the problem starts when you starts knowing and your ego starts telling you hey this guy is not better than me and the people who invented systems have brains and i have a better one and you start switching and tweaking here and there to prove that to your self, look on each and every thread here in the forum that discuss a trading system look at the first post and the last one.. the guy starts with a trading system that he has been trading for a year successfully and after the first post comes a guy with a new indicator just to filter it and then comes another one with another indicator just to measure momentum and then another one and ...etc, at the end of the thread even the guy who invented the system becomes infected with there ideas, we have an old saying here "whispering in the ears is more effective than magic" that's when some people start saying words or ideas even if its not true at the end you'll believe it your self.. now i'm not against discussions or trading ideas but every thing has its time and its a learning cycle you have to go through it all and at the end why fix some thing if its not broken.. trying to get the holy grail which you'll never do or trying to fine tune the system so instead of making 80% win ratio you're trying to make 99% also will never happen, or trying to squeeze it to make 100% each month also would never happen ..you know there is these forex contest that the winner turn 10000$ to 280000$ in a month and i've seen those numbers but where are they now if they are making 2800% in one month shouldn't we be hearing about them being the richest people in the world after 6 months but we don't you know why cuz this is up normal so as they go in one day like a rocket the second day they fail like a rock.. Well i'd rather be here every day making a suitable % for living rather than be here today but not tomorrow.. at last "not every thing you know you should say, not every thing you say now is the time for it and not every thing its time had came the people who should hear it attended" i hope you get the idea from my words and i wish you all the best.
Thanks for reply.
Nice your statement. My friend, hard man, luck gambler ... see statement. Its demo, he live statement... identical.
Very nice, nice PF, but I do not follow this. Martingale and huge volume, but he still live... 6month , big money. Start with 3000eur before 3month. Huh.
He do not sleep.
I need style with relative peaceful. I will be learning from you and sleeping.
Cheers.
the highest price on the GBP/JPY 246.96 and because of the spread my trailing stop got hit and the pair went all the way down to 243.90
..thank god i 'm still in a GBP/USD trade that i cllected 100 pips tell now, sorry i didn't call that here but i was too sleepy to do it 
frantacech..thanks but i don't get it..you mean to tell me that he started 6 months ago with 3000 and now he has over 1 million or what, cuz if thats true good for him that means that we'll see his name and picture over forbes magazine after 6 more months maximum thats not too long to wait