50 pips with GBP/USD, without any indicators - page 2
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hi
Any feedback would be appreciated, thanks.
thanks for your good system explanation, how long have u been using this system ?
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Forex Indicators Collection
Live
Been on demo with this for about a year, all the while been trying to find a reasonable money management plan. Now have just started live with it, so this is my way of making sure I'm 100% disciplined because I shouldn't blow another account again. The first one has taught me very valuable lessons.
50 pips
I have already made my 50 pips for this week. First try was on Monday, but it hit my stop loss at breakeven. So last night it was short and 50 pips was made.
La,
Could you post your progression schedule. I am wondering how you handle your progression if you lose 2 in a row, three in a row, etc. Thanks in advance.
site
I have a table of that put up on my journal website, in the money management section. Thanks.
La, Could you post your progression schedule. I am wondering how you handle your progression if you lose 2 in a row, three in a row, etc. Thanks in advance.
Re.: 50 pips with GBP/USD, without any indicators
hey la_maya_k:
Just curious.
is there any special reason that you put TP 50? why not 60 or 120? thanks.
Risk
This is an intriguing strategy. It's like making 10 pips a day, but in one day. And you're then good for the week. Definitely less stress.
You said you were risking 1%, but I noticed in your document (the 30k to 82k) - that you're actually using 2%, correct?
That's still within my tolerance range, but I just want to be clear. Also, what timeframe do you use for this?
Hello, la maya k!
How is your trading with your system?
Hi all, the system have been doing alright. Most weeks were good, there was some bad runs where I didn't lose, but just took a little more patience.
Ever since I start back on my 2nd live account on 25 July 2008, my starting balance was $3780. Today, 19 September 2008, it's $4067. I've made $287 so far, that's about 7.6% in 8 weeks.
Might not be alot compared to other systems, but from the heartache of watching the first account dwindle, I'm glad to finally be on the steady way up, no matter how slow.
This is an intriguing strategy. It's like making 10 pips a day, but in one day. And you're then good for the week. Definitely less stress.
You said you were risking 1%, but I noticed in your document (the 30k to 82k) - that you're actually using 2%, correct?
That's still within my tolerance range, but I just want to be clear. Also, what timeframe do you use for this?I would ideally risk 1%, but considering my account isn't big enough to allow that much room, my broker only goes as far as mini account, not micro, so I'm trading at 2% for now.
As for timeframe, I look at M15, but doesn't really matter actually, since I'm not applying any indicators to the chart.