School of Pimpology - page 181
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dancing in the rain
Due to recent budget cuts and the cost of electricity, gas and oil, as well as current market conditions and the continued decline of the U.S. economy, The Light at the End of the Tunnel has been turned off.
My simple response to this is:
Rock n Roll,
StratGreat remark strat ,
don't worry light's are still on over here in la douce france.
Here my first results of my have a look one's a day tradeslovely relaxed trading, i starting having fun with this..
I still shaping my trading rules keeping 'm very very simple.
regards, and be careful you know what happened when the light's went out in Georgia!
hans..
The charts in the first few posts look like what the FX500 club uses? I dont see any templates in the first few posts, might they be somewhere in this 180 pages?
The charts in the first few posts look like what the FX500 club uses? I dont see any templates in the first few posts, might they be somewhere in this 180 pages?
You have to email Zak for these.
See post #1643 on page 165 for Zak's email address
Daily updates
AUDUSD
Sell order at .6380 with TP at 0.6300
CHFJPY
Sell order at 80.50 with TP at 77.00
EURGBP
Sell order at .8730 with TP at .8550
EURJPY
Sell order at 119.60 with TP at 117.00
EURUSD
Sell order at 1.2686 with TP at 1.2590
GBPCHF
Sell order at 1.6610 with TP at 1.6500
GBPJPY
Sell order at 134.50 with TP at 130.50
GBPUSD
Sell order at 1.4450 with TP at 1.4150
USDCAD
Buy order at 1.2565 with TP at 1.2670
USDCHF
Buy order at 1.1700 with TP at 1.2130
USDJPY
Buy order at 95.00 with TP at 96.30
TP on 50% of position, go to BE and trail
Rock n Roll,
Strat
Hello Robert!
I like your euro shorts and CAD long and I just put my orders in!
The others I am going to watch and see what happens.
Thanks so much for your analysis
Nicola
AUDUSD
Sell order at .6380 with TP at 0.6300
CHFJPY
Sell order at 80.50 with TP at 77.00
EURGBP
Sell order at .8730 with TP at .8550
EURJPY
Sell order at 119.60 with TP at 117.00
EURUSD
Sell order at 1.2686 with TP at 1.2590
GBPCHF
Sell order at 1.6610 with TP at 1.6500
GBPJPY
Sell order at 134.50 with TP at 130.50
GBPUSD
Sell order at 1.4450 with TP at 1.4150
USDCAD
Buy order at 1.2565 with TP at 1.2670
USDCHF
Buy order at 1.1700 with TP at 1.2130
USDJPY
Buy order at 95.00 with TP at 96.30
TP on 50% of position, go to BE and trail
Rock n Roll,
StratThere'll be a few burnt fingers after yesterdays trade, thats for sure Bill.
So glad I closed 3/4 of my usdjpy long for +200. I actually chanced a short on it then got nervous and cut it to see it fall a few 100 minutes later. But overall it was a good result.
I lost all my UJ pips. Just not quick enough
I learned a hard lesson.
To all those struggling in the room ... It happens to me too. I have a crisis of confidence at least once a week and then I trade really stupidly afterwards. I'm also finding the 15min chart trading really stressful and I'm trying hard to move up timeframes.
It is really helping me to do my own chart analysis, mark my own trendlines and levels and try and apply strategy to higher time frames. Then before the live room starts I decide that if that works that is what I want to trade regardless of what they call or recommend. That way I don't jump into anything called out in the live room that looks fabulous on a 15min chart and get burnt because I am not sure of the targets or the bigger picture. If the setups I like don't happen then I'm going to try not to trade.
Unless the potential reward is double my risk I'm just not interested in the stress
. Lately I have found at the end of the day, whether it has been good or bad, I feel like I have just been through the spin cycle in the washing mashine and I'm exhausted.
My goal eventually much less trades a week but all really good setups and ideally ones that look good on the daily or 4hr chart too. I know I have been overtrading ...
Hang in and find what works for you too ...
Nicola
First time using these, I put a 25 pip trail on them I set the EJ, EU, GU shortly after these were posted. All 3 stopped out. What are the chances of all 3? 4% of acct for each trade.
Story of my life.
AUDUSD
Sell order at .6380 with TP at 0.6300
CHFJPY
Sell order at 80.50 with TP at 77.00
EURGBP
Sell order at .8730 with TP at .8550
EURJPY
Sell order at 119.60 with TP at 117.00
EURUSD
Sell order at 1.2686 with TP at 1.2590
GBPCHF
Sell order at 1.6610 with TP at 1.6500
GBPJPY
Sell order at 134.50 with TP at 130.50
GBPUSD
Sell order at 1.4450 with TP at 1.4150
USDCAD
Buy order at 1.2565 with TP at 1.2670
USDCHF
Buy order at 1.1700 with TP at 1.2130
USDJPY
Buy order at 95.00 with TP at 96.30
TP on 50% of position, go to BE and trail
Rock n Roll,
Strat25 pip stop loss on volatile Daily pairs - WOW!
First time using these, I put a 25 pip trail on them I set the EJ, EU, GU shortly after these were posted. All 3 stopped out. What are the chances of all 3? 4% of acct for each trade. Story of my life.
25 pip stop loss on a daily time frame? This shows how very inexperienced you are!
The average daily range over the last 2 trading days are:
EURJPY 174 pips
EURUSD 246 pips
GBPUSD 259 pips
25 pips on these will stop you out on a hiccup!
Also, this was not a recommendation to trade.
4% on EACH? That's a total of 12%! Good MM is that your TOTAL trades do not exceed 2% to 3% of your account. Absolute madness!! On that basis, you only have 8 more losing trades to go before you blow your account!
May I suggest you learn the basics of trading before going any further
Good points and I'll learn from that. BTW it was a 25 pip trail, not intial stop loss that was much bigger and thanks again for the advice.
On money management, i generally aim to risk 1% per trade. Recently i've moved to .3% as I am suffering a crisis of confidence. Once i'm back on track i'll move back.
For me, anymore than 1% is just too risky.
On average 2 trades per day, so 10% of account at risk per week.
Anymore than that and I get a twitchy sphincter!!!