forexjpn's trade journal

[BambinoFlex]

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?

[aliassmith]

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

[forexjpn]

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.

[BambinoFlex]

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

[TheRumpledOne]

"
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.

[TheRumpledOne]

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!!

[aliassmith]

"
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

[forexjpn]

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.

[pablo101]

pointybits.png (99.44 KiB) Viewed 4275 times

[TheRumpledOne]

That is correct an I figured obvious to everyone.

What is obvious is often unseen.