JESGPY wrote:TRO.
I am trading the with SWEET SPOT GOLD trigger lines, along with 3 level zz semafor to have an idea of the price behavior/direction.
On each trade I take I look forward to take 5 or 6 pips.
I have not hace a losing trade.... BUT!!!
I am not trading with any stop loss, not even mental. Some times the trade goes totally in the oposite side I took, but because the 3 level zz semafor shows me that the price will eventually reasume the direction I took, I leave the position opened. I am trading still with a demo account.
What I would like to know is a sugestion of how many pips should I place at risk. I know that depends on my risk tolerance. But i would like to know aproximate numeber, so I can calculate the value of my pips, because I am willing to risk 5% on each trade.
Sorry for making it to long.
THANKS
JUAN
Never Lose Again
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- razorboy
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Try letting a trade run against you with money in the game.....................
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- prochargedmopar
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What happened to the "two percent club"? chat room?
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
razorboy wrote:Try letting a trade run against you with money in the game.....................JESGPY wrote:TRO.
I am trading the with SWEET SPOT GOLD trigger lines, along with 3 level zz semafor to have an idea of the price behavior/direction.
On each trade I take I look forward to take 5 or 6 pips.
I have not hace a losing trade.... BUT!!!
I am not trading with any stop loss, not even mental. Some times the trade goes totally in the oposite side I took, but because the 3 level zz semafor shows me that the price will eventually reasume the direction I took, I leave the position opened. I am trading still with a demo account.
What I would like to know is a sugestion of how many pips should I place at risk. I know that depends on my risk tolerance. But i would like to know aproximate numeber, so I can calculate the value of my pips, because I am willing to risk 5% on each trade.
Sorry for making it to long.
THANKS
JUAN
This is where a good poker book comes in...
Think of your future gain as the pot and your risk as the amount you bet to win the pot.
Now ask your self if you are willing to go all in for 5 pips...
It just doesn't make sense!
Here, read this book:
http://www.amazon.com/Professional-No-L ... 188068540X
Poker books will always put you in the right mind set for trading
Hi everyone it has been a while since i posted in this forum. Everybody who was reading the babypips forum know i was trading really wel.
I gained a lot of money and then suddenly i was doing a lot of things wrong. I lost about 2000 euro. That was the point where i decided to go demo again.
At the same time MO was posting a lot about the zeroline.
If you use the zeroline in combination with some of TRO's techniques it is very powerful!!!
So thank you MO for your explenation, you brought me back on track. It is almost trading with laserprecision entry's. Keep posting MO i've almost learned as much from you as from TRO.
Greetings
I gained a lot of money and then suddenly i was doing a lot of things wrong. I lost about 2000 euro. That was the point where i decided to go demo again.
At the same time MO was posting a lot about the zeroline.
If you use the zeroline in combination with some of TRO's techniques it is very powerful!!!
So thank you MO for your explenation, you brought me back on track. It is almost trading with laserprecision entry's. Keep posting MO i've almost learned as much from you as from TRO.
Greetings
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dragon33 wrote:Hi everyone it has been a while since i posted in this forum. Everybody who was reading the babypips forum know i was trading really wel.
I gained a lot of money and then suddenly i was doing a lot of things wrong. I lost about 2000 euro. That was the point where i decided to go demo again.
At the same time MO was posting a lot about the zeroline.
If you use the zeroline in combination with some of TRO's techniques it is very powerful!!!
So thank you MO for your explenation, you brought me back on track. It is almost trading with laserprecision entry's. Keep posting MO i've almost learned as much from you as from TRO.
Greetings
I am sorry to hear about your troubles Dragon, but I am elated to hear that you are back on track.
I was really only going to show the basic idea of the ZL through breakouts of the extreme as my contribution to the community here and then continue on my merry way of reading TRO's posts.
It is amazing to see how many people are trading without a basic understanding of how and why price moves.
- prochargedmopar
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MightyOne,
So where did you buy in, 2825 or did you get in near the 2832 area?
I take it you sat through the -15 pip wick of the 3rd 15m candle in the hr.
Did you exit at 2800 or is this just an example of price action and how it works?
What did you think of the 1st M15 ?"doji"? that was basically the entire length of the 1 hr candle when the wicks were included.
I had a really bad day today.
Try -135 on real account. Worst ever.
Account has gone from 840 to 1046 to 350ish.
I should get good now that I'm below $400 being I'll be in conservation mode. LOL
NOT
Really,
thanks for all the info. Please keep posting. I'm reading this stuff non-stop and have printed out over 400 pages to carry around with me. I print the new stuff daily.
I can see some things. I can scalp 1m candles for 1-5 pips and get a lot of wins in a row. That's what I started doing on a demo the last few hrs being things slowed down. Seems easy to read direction when all that is in front of me is candles and I'm focused on movement/direction only.
On the scalping trades I was 26 out of 38 trades in profit.
This is the only way I can seem to get in a grove or make any headway.
WHAT GIVES.
Any Ideas?
Procharged
So where did you buy in, 2825 or did you get in near the 2832 area?
I take it you sat through the -15 pip wick of the 3rd 15m candle in the hr.
Did you exit at 2800 or is this just an example of price action and how it works?
What did you think of the 1st M15 ?"doji"? that was basically the entire length of the 1 hr candle when the wicks were included.
I had a really bad day today.
Try -135 on real account. Worst ever.
Account has gone from 840 to 1046 to 350ish.
I should get good now that I'm below $400 being I'll be in conservation mode. LOL
NOT
Really,
thanks for all the info. Please keep posting. I'm reading this stuff non-stop and have printed out over 400 pages to carry around with me. I print the new stuff daily.
I can see some things. I can scalp 1m candles for 1-5 pips and get a lot of wins in a row. That's what I started doing on a demo the last few hrs being things slowed down. Seems easy to read direction when all that is in front of me is candles and I'm focused on movement/direction only.
On the scalping trades I was 26 out of 38 trades in profit.
This is the only way I can seem to get in a grove or make any headway.
WHAT GIVES.
Any Ideas?
Procharged
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
prochargedmopar wrote:MightyOne,
So where did you buy in, 2825 or did you get in near the 2832 area?
I take it you sat through the -15 pip wick of the 3rd 15m candle in the hr.
Did you exit at 2800 or is this just an example of price action and how it works?
What did you think of the 1st M15 ?"doji"? that was basically the entire length of the 1 hr candle when the wicks were included.
I had a really bad day today.
Try -135 on real account. Worst ever.
Account has gone from 840 to 1046 to 350ish.
I should get good now that I'm below $400 being I'll be in conservation mode. LOL
NOT
Really,
thanks for all the info. Please keep posting. I'm reading this stuff non-stop and have printed out over 400 pages to carry around with me. I print the new stuff daily.
I can see some things. I can scalp 1m candles for 1-5 pips and get a lot of wins in a row. That's what I started doing on a demo the last few hrs being things slowed down. Seems easy to read direction when all that is in front of me is candles and I'm focused on movement/direction only.
On the scalping trades I was 26 out of 38 trades in profit.
This is the only way I can seem to get in a grove or make any headway.
WHAT GIVES.
Any Ideas?
Procharged
I didn't sit through any draw down what so ever...
Your biggest problem is that you are going for 1-5 pips.
Unless you have over $250,000, STP, discounted commissions, and are a professional level trader it is not likely that you will be a profitable trading for less than 5 pips.
You need to size your stops so that you don't get wicked on some random spike while at the same time doing every thing in your power to
exit at an even smaller loss.
When sitting with a profit you need to be thinking about exiting on extremes and immediately throwing out limit orders at a better price on the current candles.
While the getting is good keep getting...
I always told my trading buddies the following:
Price moves from entries to exits and back to entries;
exit on extremes, enter on stops, exit on extremes.
They repeated it back to me, but I don't think that it ever sank in
MightyOne wrote:dragon33 wrote:Hi everyone it has been a while since i posted in this forum. Everybody who was reading the babypips forum know i was trading really wel.
I gained a lot of money and then suddenly i was doing a lot of things wrong. I lost about 2000 euro. That was the point where i decided to go demo again.
At the same time MO was posting a lot about the zeroline.
If you use the zeroline in combination with some of TRO's techniques it is very powerful!!!
So thank you MO for your explenation, you brought me back on track. It is almost trading with laserprecision entry's. Keep posting MO i've almost learned as much from you as from TRO.
Greetings
I am sorry to hear about your troubles Dragon, but I am elated to hear that you are back on track.
I was really only going to show the basic idea of the ZL through breakouts of the extreme as my contribution to the community here and then continue on my merry way of reading TRO's posts.
It is amazing to see how many people are trading without a basic understanding of how and why price moves.
Hey Mighty, you brought me a clear view how price is moving i didn't know before. It sounds idiot but since i know i can trade again like i was doing before. The only difference now is that i understand why price is going back and forward.
It makes it so easy to wait for a good trade.
The last two weeks i was trading a lot with my new knowledge. I took 39 trades on a 5 min tmf 36 winners. The other are almost breakeven simple because you can wait to get a better price to take your loss.
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