No Name Trading System - page 4

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Pip:
Thanks Let me know if i may be of further assistance.

m8! why you step out if your indi shows long term -up?

 
avi1:
m8! why you step out if your indi shows long term -up?

Hi Avi1,

I am not sure what you are referring to, could you elaborate a little more?

Cheers

 
Pip:
Hi Avi1,

I am not sure what you are referring to, could you elaborate a little more?

Cheers

on 1-h ,4-h your indi shows stay long

 
Pip:
Hi Avi1,

I am not sure what you are referring to, could you elaborate a little more?

Cheers

on 1-h ,4-h your indi shows stay long

 
avi1:
on 1-h ,4-h your indi shows stay long

Assuming you are referring to my latest trade...

Negative, when I entered the last trade all indicators on the 4H frame were in bearish trend and I entered on a divergence at that time frame along with supporting entry on 1H

Cheers,

 
Pip:
Assuming you are referring to my latest trade...

Negative, when I entered the last trade all indicators on the 4H frame were in bearish trend and I entered on a divergence at that time frame along with supporting entry on 1H

Cheers,

m8! thx will you post a chart

 

Here you go

avi1:
m8! thx will you post a chart

By the way, i have noticed that i used the wrong date in the title for my last trade, it should have read 7-6-2010 instead of 6-6-2010, sorry for the confusion.

Files:
7-6-2010_entry.jpg  179 kb
 
Pip:
By the way, i have noticed that i used the wrong date in the title for my last trade, it should have read 7-6-2010 instead of 6-6-2010, sorry for the confusion.

m8!thx are you waitting for short ??

 
avi1:
m8!thx are you waitting for short ??

Not necessarily, I am waiting for a viable setup. I try as much as I can not to predict but rather to react to the market with some reasonable forecasting capabilities such as support & resistance.

 
Money Management: Personally, I only trade at 1:5 leverage. This allows me to risk up to 2% of my trading capital without significant loss to my account. Furthermore, I average cost my entry to allow greater room for entry errors. For example, with a $10,000 account, I will only trade 0.5 lots total at any given trade. I enter the market with 0.25 lots and place a limit order 20 pips away from previous order. The stop-loss for both orders would be the same and set at 2% of account balance (which would be $200 in this case). My take profit is usually based on previous highs/lows or support/resistance levels. Furthermore, when entering a trade, I look for at least 1:2 risk to reward ratio.

Hi Pip,

What you explain in your first posting does not make any sence.

You say that when you would trade a 10,000$ account you would never take in a position that is bigger then 0.5 lots.

Check out your trades that you took the 21st of Oct 2009:

You took in trades with a 160 lotsize. On that moment you had a balance of 85,000$.

Which would represent 16 lots with 8,500$. Which is completaly over-leveraged.

On top of that you say that you use a leverage of ONLY 5:1.

if you use a leverage of 5:1 that means this when you have 85,000$ in your account that this represents 85,000$ x 5 = 425,000$.

When you have 5:1 leverage with 85,000$ you can only trade 4 lots and never 160 lots.

On top of that when you calculate all the contracts that you took in a time span between 16:29h and 16:42h you had a total of 420!! contracts open.

I suggest that you do your home work again and adjust your 1st posting.

Friendly regards...iGoR

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