ForexEdge Trades... GBP/USD - page 2

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New Trade:

Entry: 1:33 at 1.6385

T/P: looking at 1.6460 Or system confirmation for close

Same setup as previously

-Rudy

 
4xEdge:
New Trade:

Entry: 1:33 at 1.6385

T/P: looking at 1.6460 Or system confirmation for close

Same setup as previously

-Rudy

Unfortunately i didn't close at that resistance level, so i closed on balance..

Not too bad of a day... about 100 pips

-Rudy

 

Hi,

I have over 200 pips from 1 long trade that I entered yesterday at 1.6166.

I have a different problem about position sizing.

I allocate 3% Risk to all my trades. If that is $300, and my stop is 30 pip wide, my position size is calculated as 1 lot.

The problem is that since all stops are not same, the position sizes can differ, lets say 0.2 and 1 lots. I have 200 pips on 0.2 lots, and a 30 pip stop loss on the 1 lot trade. So 200 pips made $400, and just 30 pips lost $300!

My 200 pip win is almost a waste now.

Does anyone else has this problem? How do you handle this?

Thanks,

JForex.

 

Hello to everyone...

Today levels I will enter on:

Support (going long)

-1.6305

-1.6205

-1.6105

Resistance (going short)

-1.6495

-1.6595

-1.6660

All levels +/- 5 pips depending on how the market is moving...

I already entered on short at Resistance 1.6420

And all trades on these levels: take profit is approximately 20-40 pips

I will also post any other trades as my system confirms...

-Rudy

 

Can you please discuss your entry/ stop/ takeprofit strategy?

Thanks.

 
JForex78:
Can you please discuss your entry/ stop/ takeprofit strategy? Thanks.

Hey, Aside from these levels i have a system there i have more detailed strategy on exit and take profits...

but these levels i post are very good points to enter on because they are strong support and resistance levels.. based on historical data.

and take profits are generally 20-40pips like wise a stop should be place 10 pips above the level.. but all this is depending on how the market is going.

For instance the level i posted today : 1.6495 I shorted there and made some 50pips (a stop was not necessary because most of these levels they don't break right away), that's aside from my system trades that earned another 170pips. (8/10positive trades)

If anyone would like i could post those trades.

-Rudy

 

About level

Intraday bias in GBP/USD remains neutral for the moment as sideway trading from 1.6166 continues. Another rise cannot be ruled out but still, upside is expected to be limited well below 1.6515 resistance and bring fall resumption. Below 1.6166 will indicate that whole fall from 1.6875 has resumed and should target a retest of 1.5706 support next.[actionforex]

"P&F GBPUSD1440 Box Size 250X3 or(4.33%) HI/LO

Data 2.1161 - 1.3502 ~ 92 Month ~ 2795 Day

Database 2000 records 1.63294 (Last Close)

2002-04-22 00~00

2009-12-16 00~00 (GMT+01:00) Paris

BJF Trading Group chart"

2.1250|~25O||____________________________________|-0.42%|57.38%

2.1000|~5OO||_________________X__________________|0.76%|55.53%

2.0750|~75O||_________________Xo_________________|1.94%|53.68%

2.0500|~1OOO|_______________X_Xo_________________|3.12%|51.83%

2.0250|~125O|_______________XoXoX________________|4.31%|49.98%

2.0000|~15OO|_______________XoXoXo_______________|5.49%|48.13%

1.9750|~175O|_______________Xo_oXo_______________|6.67%|46.27%

1.9500|~2OOO|_________X_____X__o_o_______________|7.85%|44.42%

1.9250|~225O|_________Xo____X____o_______________|9.03%|42.57%

1.9000|~25OO|_____X___Xo__X_X____o_______________|10.21%|40.72%

1.8750|~275O|_____XoX_Xo__XoX____o_______________|11.39%|38.87%

1.8500|~3OOO|_____XoXoXo__XoX____oX______________|12.58%|37.02%

1.8250|~325O|_____XoXoXoX_Xo_____oXo_____________|13.76%|35.17%

1.8000|~35OO|_____XoXoXoXoX______oXo_____________|14.94%|33.31%

1.7750|~375O|_____XoXo_oXoX______oXo_____________|16.12%|31.46%

1.7500|~4OOO|_____Xo___o_oX______o_o_____________|17.3%|29.61%

1.7250|~425O|_____X______o_________o_____________|18.48%|27.76%

1.7000|~45OO|_____X________________o__________X__|19.66%|25.91%

1.6750|~475O|===X=X================o==========XoX|20.84%|24.06%

1.6500|~5OOO|_X_XoX________________oX_________XoX|22.03%|22.2%

1.6250|~525O|_XoXoX________________oXo________XoX|23.21%|20.35%

1.6000|~55OO|=XoX#X================oXo========XoX|24.39%|18.5%

1.5750|~575O|_XoXo_________________oXo________Xo_|25.57%|16.65%

1.5500|~6OOO|_Xo___________________o_oX_X_____X__|26.75%|14.8%

1.5250|~625O|_X______________________oXoXoX___X__|27.93%|12.95%

1.5000|~65OO|_X______________________oXoXoXo__X__|29.11%|11.09%

1.4750|~675O|_X______________________o_oXoXoX_X__|30.3%|9.24%

1.4500|~7OOO|oX________________________o_o_oXoX__|31.48%|7.39%

1.4250|~725O|______________________________oXoX__|32.66%|5.54%

1.4000|~75OO|______________________________oXoX__|33.84%|3.69%

1.3750|~775O|______________________________o_o___|35.02%|1.84%

1.3500|~8OOO|____________________________________|36.2%|-0.01%

Column|~825O|194541654783473935631414734443644154|

Count|~85OO||_____3______________1_2__________3__|

BJF-Trading-Group-GBPUSD_4h30min_091216.xls

 

The pound reversed below the new support level at $1.53, warning of a bull trap.

Expect another test of $1.48.

Recovery above $1.53, however, would signal a rally to $1.60, confirmed if the declining trendline is broken.

"P&F GBPUSD1440 Box Size 250X3 or(4.33%) HI/LO

Data 2.1161 - 1.3502 ~ 91 Month ~ 2797 Day

Database 2000 records 1.52649 (Last Close)

2002-09-02 00~00

2010-04-30 00~00 (GMT+01:00) Paris

BJF Trading Group chart"

 
MDunleavy:

"P&F GBPUSD1440 Box Size 250X3 or(4.33%) HI/LO

Data 2.1161 - 1.3502 ~ 91 Month ~ 2797 Day

Database 2000 records 1.52649 (Last Close)

chart"

Hi there,

For GBPUSD you are using box settings 250X3 for 1440, 60X3 for 240.

What are the box settings for 1Hr???

is it 15X3??

All the best

Xard777

 
xard777:
Hi there,

For GBPUSD you are using box settings 250X3 for 1440, 60X3 for 240.

What are the box settings for 1Hr???

To demonstrate any size.

For trade 60x3 or 30x3 any timeframe.

Trade Idea: GBP/USD - Sell at 1.4580 Target: 1.4160 ; Stop: 1.4700 .

============================================

Pound/Dollar traded hesitantly on Wednesday, in converse with negative Interbank sentiment at

nearly -59%. The Cable was moving within the narrow 1.4337 - 1.4448 range, closing the day at

1.4386. Today Sterling is making recovery efforts, reaching the high levels from the beginning

of the week. First resistance is today's top at 1.4535. Break above it should extend the

bullish movement further towards 1.4627. The nearest support is yesterday's bottom at 1.4337.

Going bellow it should extend British Pound's reduction further down towards next downward

objective 1.4250.

"P&F GBPUSD15 Box Size 30X3 or(0.62%) HI/LO

Data 1.4958 - 1.423 ~ 0,5 Month ~ 15.01 Day

Database 1050 records 1.4559 (Last Close)

2010-05-12 12~15

2010-05-27 12~30 (GMT+01:00) Paris

BJF Trading Group MDunleavy chart"

1.4970|~3O|||_____________________________________ ___________|-0.08%|5.2%

1.4940|~6O|||__+__________________________________ ___________|0.12%|4.99%

1.4910|~9O|||o_x_+________________________________ ___________|0.32%|4.78%

1.4880|~12O||o_x_o_+______________________________ ___________|0.52%|4.57%

1.4850|~15O||o_x_o___+____________________________ ___________|0.72%|4.36%

1.4820|~18O||o___o_____+__________________________ ___________|0.92%|4.15%

1.4790|~21O||____o_______+________________________ ___________|1.12%|3.94%

1.4760|~24O||____o_________+______________________ ___________|1.32%|3.72%

1.4730|~27O||____o___________+____________________ ___________|1.52%|3.51%

1.4700|~3OO||____o_____________+__________________ ___________|1.72%|3.3%

1.4670|~33O||____o_______________+________________ ___________|1.93%|3.09%

1.4640|~36O||____o_________________+______________ ___________|2.13%|2.88%

1.4610|~39O||____o_x_________________+____________ _________+_|2.33%|2.67%

1.4580|~42O||====o=x=o=================+========== =========x=|2.53%|2.46%

1.4550|~45O||____o_x_o___________________+_____+__ _________x_|2.73%|2.25%

1.4520|~48O||____o___o_____________________+___x_+ _________x_|2.93%|2.04%

1.4490|~51O||________o_x___x_________________+_x_o _+_______x_|3.13%|1.83%

1.4460|~54O||________o_x_o_x_o_____x_______x___x_o _x_+_____x_|3.33%|1.62%

1.4430|~57O||________o_x_o_x_o_____x_o_x___x_o_x_o _x_o_x___x_|3.53%|1.41%

1.4400|~6OO||________o_x_o_x_o_____x_o_x_o_x_o_x_o _x_o_x_o_x_|3.73%|1.19%

1.4370|~63O||________o_x_o___o_x___x_o_x_o_x_o_x_o ___o_x_o_x_|3.93%|0.98%

1.4340|~66O||________o_x_____o_x_o_x_o_x_o___o____ ___o_x_o_+_|4.13%|0.77%

1.4310|~69O||________o_x_____o_x_o_x_o_x__________ ___o_x_+___|4.33%|0.56%

1.4280|~72O||________o_______o_x_o_x_o_x__________ ___o_+_____|4.53%|0.35%

1.4250|~75O||________________o___o___o____________ ___+_______|4.73%|0.14%

1.4220|~78O||_____________________________________ ___________|4.93%|-0.07%

Column|~9OO||4_3_1_3_1_7_4_4_8_4_4_7_7_6_3_4_4_6_5 _3_6_5_3_8_|

Count||~93O||____3___1____________________________ ___________|

BJF-Trading-Group_Excel_Chart

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