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Fxtraveller
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Postby Fxtraveller » Mon Jun 08, 2009 10:02 am

Gbp/Usd- no trade. opened with gap, past MS1.

Eur/Jpy- buy at Pivot: -23 x2 - 23= -69 pips (20 SL but had "slippage)

Sell at Ms1: 44+42= 86 pips ( let my profits run for a bit, money management, ahaaa =)

Today: +17 pips

Question: is Trailing Stop supposed to work while your PC is shut? As far as I know, yes...
Attachments
eurjpy.gif
Sell at 137.02, TP1 at 136.80, TP2 at 136.60.
eurjpy.gif (15.06 KiB) Viewed 269 times

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MightyOne
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Postby MightyOne » Mon Jun 08, 2009 4:23 pm

I believe that your MT4 platform has to be running, but don't quote me ;)

Fxtraveller wrote:Gbp/Usd- no trade. opened with gap, past MS1.

Eur/Jpy- buy at Pivot: -23 x2 - 23= -69 pips (20 SL but had "slippage)

Sell at Ms1: 44+42= 86 pips ( let my profits run for a bit, money management, ahaaa =)

Today: +17 pips

Question: is Trailing Stop supposed to work while your PC is shut? As far as I know, yes...

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razorboy
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Postby razorboy » Mon Jun 08, 2009 7:20 pm

if you are using FXCM - should work with computer off
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

http://thejoshkerbelproject.com/

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razorboy
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Postby razorboy » Mon Jun 08, 2009 7:30 pm

I see you took a fully loaded stop out..................had a few today as well

They are like hemorrhoids.....a total pain in the ass, but probably will not kill you.........

I have been using multiple units as well, except that my TP's have been much tighter than yours for my initial 2 units - about 10 pips and (I am looking for 100pips on the third unit) then i gradually advance the SL on the remaining unit to zero and then beyond - I am not sure if this hurts me or helps me in the long run.
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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razorboy
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Postby razorboy » Mon Jun 08, 2009 7:49 pm

Just shy of 100 pips today including 3 fully loaded stop outs @ 60 total pips each (ouch!)

I have yet to get that big pop off the last unit
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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Fxtraveller
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Postby Fxtraveller » Mon Jun 08, 2009 10:14 pm

razorboy wrote:I see you took a fully loaded stop out..................had a few today as well

They are like hemorrhoids.....a total pain in the ass, but probably will not kill you.........

I have been using multiple units as well, except that my TP's have been much tighter than yours for my initial 2 units - about 10 pips and (I am looking for 100pips on the third unit) then i gradually advance the SL on the remaining unit to zero and then beyond - I am not sure if this hurts me or helps me in the long run.


1)That is why it is important to keep a log of trades and then analyze them over time. Say, my winning % is 60. 6 good trades out of 10. if in at least 3-4 of them your TP2 and TP3 are hit, then it pays off. if not, then you just lose potential profit in the long run. A very rough description....

2) I thought about locking pips earlier, but decided to find a method that would be winning with just 1:1 ratio. Money management and multiple lots just add to profits. Im actually starting to notice that if it goers my way, it goes properly, more than 20 pips (my TP1), so im starting to put TP1= 22-24 pips, opposed to my SL=20.
I hope this system turns out profitable in the long run, then I can tweak it a bit to maximise profits without changing the basics.

If I could be there when trades happen, I'd put SL as Low/High of triggering candle, and I would use scaling in method, where one puts 30% of initial lot, and adds a bit more if trade goes x pips against him and more if another x pips against, having the same initial SL for all. Got the idea from TRO's link to Volume Spread Analysis.

Just my 2 pips...

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razorboy
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Postby razorboy » Mon Jun 08, 2009 11:09 pm

I'm always torn about using larger stop losses. From what I have found, what ever profit I have lost by not giving price enough room to turn around, I am typically better off for cutting my losses off at about 20 pips

Just easier for me to earn my way out of 20 pip losses

Fxtraveller wrote:
razorboy wrote:I see you took a fully loaded stop out..................had a few today as well

They are like hemorrhoids.....a total pain in the ass, but probably will not kill you.........

I have been using multiple units as well, except that my TP's have been much tighter than yours for my initial 2 units - about 10 pips and (I am looking for 100pips on the third unit) then i gradually advance the SL on the remaining unit to zero and then beyond - I am not sure if this hurts me or helps me in the long run.


1)That is why it is important to keep a log of trades and then analyze them over time. Say, my winning % is 60. 6 good trades out of 10. if in at least 3-4 of them your TP2 and TP3 are hit, then it pays off. if not, then you just lose potential profit in the long run. A very rough description....

2) I thought about locking pips earlier, but decided to find a method that would be winning with just 1:1 ratio. Money management and multiple lots just add to profits. Im actually starting to notice that if it goers my way, it goes properly, more than 20 pips (my TP1), so im starting to put TP1= 22-24 pips, opposed to my SL=20.
I hope this system turns out profitable in the long run, then I can tweak it a bit to maximise profits without changing the basics.

If I could be there when trades happen, I'd put SL as Low/High of triggering candle, and I would use scaling in method, where one puts 30% of initial lot, and adds a bit more if trade goes x pips against him and more if another x pips against, having the same initial SL for all. Got the idea from TRO's link to Volume Spread Analysis.

Just my 2 pips...
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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razorboy
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Postby razorboy » Mon Jun 08, 2009 11:20 pm

remember - risk/reward is technically an unknown equation - you never know the reward before hand - only the risk
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

Fxtraveller
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Postby Fxtraveller » Tue Jun 09, 2009 10:15 am

I guess thats my dillema as well, the larger SL.... I need to find a good balance between small and large SL.....
what is more appropriate for MY method? few larger SLs, or Lots of small SL's that might bleed my account to death?
that is yet to be found out.
thinking about making SL=25-30 (but NO more than that) and thus my TP1=25-30

Below is the todays trade as an example:
Eur/Jpy: -23 x 2 - 23 = -69 pips.
The trade was an absolute winner, but inside the H1 candle there was a 22 pips spike, just enought to take me out. So.... -69 OR +80 at least.... thats a 149 pips difference in the a/c... how many larger stop losses do I need to lose this difference, provided that my method has a good winning ratio?
Attachments
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Within that closed H1 lies a treaturous spike
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razorboy
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Postby razorboy » Tue Jun 09, 2009 11:55 am

I know that dilema very well - just had one unit (of three)get knocked out of a EUR/US trade by 1 pip, before correcting and running the other way

The other thing you need to examine is that off the bat, your rr ratio is not 1:1

A total loss for you is 60 pips, a partial win is 40 pips (stop out on third unit) - so you need a 60% win ratio just to break even ( i think you posted this earlier - none of this is news to you obviously

I havent figured it out, but what percentage of the time do you need a double win to make this approach worth your time


Fxtraveller wrote:I guess thats my dillema as well, the larger SL.... I need to find a good balance between small and large SL.....
what is more appropriate for MY method? few larger SLs, or Lots of small SL's that might bleed my account to death?
that is yet to be found out.
thinking about making SL=25-30 (but NO more than that) and thus my TP1=25-30

Below is the todays trade as an example:
Eur/Jpy: -23 x 2 - 23 = -69 pips.
The trade was an absolute winner, but inside the H1 candle there was a 22 pips spike, just enought to take me out. So.... -69 OR +80 at least.... thats a 149 pips difference in the a/c... how many larger stop losses do I need to lose this difference, provided that my method has a good winning ratio?
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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