forexjpn's trade journal

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BambinoFlex
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Re: forexjpn's trade journal

Postby BambinoFlex » Sun Aug 23, 2020 4:21 am

forexjpn wrote:
aliassmith wrote:The H4 chart is good for longer term analysis. You caught some nice moves.


Thanks for the comment Alias.
Yeah, not able to trade intraday quite yet.... but hopefully soon, then I can maybe drop to M15
But aside from the monster SL’s, H4 works really well for me.


How large are your stop losses?
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aliassmith
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Re: forexjpn's trade journal

Postby aliassmith » Sun Aug 23, 2020 4:23 am

forexjpn wrote:
aliassmith wrote:The H4 chart is good for longer term analysis. You caught some nice moves.


Thanks for the comment Alias.
Yeah, not able to trade intraday quite yet.... but hopefully soon, then I can maybe drop to M15
But aside from the monster SL’s, H4 works really well for me.


Monster Stop Losses are just a state of mind. Its all relative for risk management unless you overleverage.

20 pips equal 1% on smaller TFs
50 pips equal 1% on H4
Its mostly ratios
Trade Your Way as Long as It Makes Money!

forexjpn
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Re: forexjpn's trade journal

Postby forexjpn » Sun Aug 23, 2020 6:18 am

BambinoFlex wrote:How large are your stop losses?


I put my stop two pivot points out (you can see this on the charts I just posted).
On EJ usually approx. 50~100pips, but as Alias pointed out I do adjust lot size to my risk %.
I guess I’m comparing my SL to Dragon’s .... he always used to say his SL’s were rarely more than 20pips and recommended tuning entry on M15.

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BambinoFlex
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Re: forexjpn's trade journal

Postby BambinoFlex » Sun Aug 23, 2020 2:58 pm

forexjpn wrote:
BambinoFlex wrote:How large are your stop losses?


I put my stop two pivot points out (you can see this on the charts I just posted).
On EJ usually approx. 50~100pips, but as Alias pointed out I do adjust lot size to my risk %.
I guess I’m comparing my SL to Dragon’s .... he always used to say his SL’s were rarely more than 20pips and recommended tuning entry on M15.


Yeah, it’s all relative. So two pivot points from the 4hr bars? Just curious
Trading the TRO way

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TheRumpledOne
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Re: forexjpn's trade journal

Postby TheRumpledOne » Sun Aug 23, 2020 3:06 pm

"
Monster Stop Losses are just a state of mind. Its all relative for risk management unless you overleverage.

20 pips equal 1% on smaller TFs
50 pips equal 1% on H4
Its mostly ratios"

For that to be true, the lot size has to change.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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TheRumpledOne
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Re: forexjpn's trade journal

Postby TheRumpledOne » Sun Aug 23, 2020 3:09 pm

forexjpn wrote:
TheRumpledOne wrote:You are not trading D1 or H4. YOU ARE TRADING PRICE!!


I’m going to take the ZEN route on my reply and just say, we all trade differently.


Yes, we all trade differently.

On Kreslik, we strive to eliminate the BS and myths from trading. Trading H4 is one of the myths.

And your approach was not Zen like. Lol!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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aliassmith
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Re: forexjpn's trade journal

Postby aliassmith » Sun Aug 23, 2020 3:57 pm

TheRumpledOne wrote:"
Monster Stop Losses are just a state of mind. Its all relative for risk management unless you overleverage.

20 pips equal 1% on smaller TFs
50 pips equal 1% on H4
Its mostly ratios"

For that to be true, the lot size has to change.


That is correct an I figured obvious to everyone.

If 1% of you account is $1000 then:
Use 5 lots for a 20 pip stop
Usd 2 lots for a 50 pip stop
Based on a $10 per pip currency x/usd.

Use 5.31 lots for 20 pip stop
Use 2.11 lots for a 50 pip stop
Based on a $9.45 per pip currency x/jpy

X/cad pairs are $7.59 per pip currently.

Formula:
($1000/20 )/ $10 = 5 lots
($risk/Pipsrisked) / Valuepip = lotsize
Trade Your Way as Long as It Makes Money!

forexjpn
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Re: forexjpn's trade journal

Postby forexjpn » Sun Aug 23, 2020 9:35 pm

BambinoFlex wrote:Yeah, it’s all relative. So two pivot points from the 4hr bars? Just curious


On the 4hr chart, yes. Two ‘pointy places’/extremes away.
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Re: forexjpn's trade journal

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WAS A YALE STUDENT. Now? Let's see!

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TheRumpledOne
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Re: forexjpn's trade journal

Postby TheRumpledOne » Mon Aug 24, 2020 3:26 am

aliassmith wrote:
That is correct an I figured obvious to everyone.


What is obvious is often unseen.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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