As you can see, I tend leave a lot of pips on the table (EU)......at this stage I need to get out at the sig lines, as I hate to give pips back and I am not sure yet when price is going to go all the way to an 'origin' Z-line.
I have tried looking at HTF, but nothing has quite clicked yet for me....until it does, I will continue to lock in profits even if it means missing out on the rest of a run.
forexjpn's trade journal
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- TygerKrane
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forexjpn wrote:TygerKrane wrote:For your pending orders, what kind of leverage entry are they?
Is your SL always the same size, or is it based on something chartwise?
What is your average SL size?
Hi Tyger, this is my short answer, I had a longer one, but it got far too complicated........ Hope it answers your questions.
I use the same leverage for pending and market orders.
My SL is usually beyond the extreme of the candle before the MOMO or beyond the extreme of the nearest pivot point.
My SL can be quite large at times, but in those cases it's more of a 'catastrophic' SL.
If I'm using my bastardized version of 'space', my SL can be around 100 pips, but on my standard trades, my SL's seem to average about 20.
Thanks for the reply.
And what is the amount of leverage you end up using?
**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!
I am very conservative....... I would say I range from 0.5 to 2:1 at this time, my max so far being 6:1 (not including my early days, when I didn't quite understand what risk was)
I will be implementing my understanding of E=L+R, in the near future....... My leverage should increase significantly then.
I will be implementing my understanding of E=L+R, in the near future....... My leverage should increase significantly then.
Re: EU
forexjpn wrote:Currently long EU from 1.33592
On iPhone now, will post chart later.
Wow, doesn't look nearly as good on MT4.........
I trade off Trade Interceptor on my iPhone and the last MOMO had close over the last pivot and a sig line, whereas on MT4 the pivot point is uneven and the last MOMO didn't even reach it.........
Will monitor closely, currently up 6 or 7 pips.
Open: 1.33592
SL: initially set far away at 1.3314 cuz was on the train, but now taken off as I am watching the trade
TP: 1.3385
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