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MightyOne
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Postby MightyOne » Thu Mar 19, 2009 7:18 pm

Shadik wrote:Ok guys, here is my 2 trading. I know meaby its not perfect but I still try SEE. I have a big problem with TP :)

Both profitable +33 pips.
50 pips/day its all what I need to be happy - I think that:P I know its not much - but i think thats enough.

Ok, where was my mistake?

Image
[img]http://i43.tinypic.com/2wdosnb.gif[img]

Thanks for help me and for this best topic ever:)

Edit: I dont know how show you my img here so there are 2 links;/ Sorry for that.
Edit2: thx ES its works:)


Your mistake is setting a static goal that is based on emotion.

If you are risking 1% per trade over 33 pips then a 33 pip gain is 1 to 1.
If you are risking 1% per trade over 1 pip then a 33 pip gain is 33 to 1!

Only speed of growth matters in the business of trading.

On the EURJPY with an ATR of 24 I would risk 16 pips as 4% with a profit target of 10.7 pips.
I would have then taken another trade in the same direction with the increase in momentum under me for a gain of anything I could get my hands on.

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Shadik
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Postby Shadik » Thu Mar 19, 2009 7:19 pm

Es/pip thanks you for that. I have long on E/u right now and there is +25 pips.

My limit for one day is 50pips. So now I very happy beacuse I can say now: I see it. Guys - thanks you, thanks you x 100 :) I have to still work on that method - but i think - this is my little step for better future. I dont use indicators. I dont believe. Im still in shock:) I will post my next chart after close.

Shadik
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Postby Shadik » Thu Mar 19, 2009 7:24 pm

Es/pip look at this:

Image

is this good entry and exit? Or I have a luck?
Yellow lables are my entry/exit


Again I have to say : THANK YOU!!

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es/pip
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Postby es/pip » Thu Mar 19, 2009 7:26 pm

MightyOne wrote:
Shadik wrote:Ok guys, here is my 2 trading. I know meaby its not perfect but I still try SEE. I have a big problem with TP :)

Both profitable +33 pips.
50 pips/day its all what I need to be happy - I think that:P I know its not much - but i think thats enough.

Ok, where was my mistake?

Image
[img]http://i43.tinypic.com/2wdosnb.gif[img]

Thanks for help me and for this best topic ever:)

Edit: I dont know how show you my img here so there are 2 links;/ Sorry for that.
Edit2: thx ES its works:)


Your mistake is setting a static goal that is based on emotion.

If you are risking 1% per trade over 33 pips then a 33 pip gain is 1 to 1.
If you are risking 1% per trade over 1 pip then a 33 pip gain is 33 to 1!

Only speed of growth matters in the business of trading.

On the EURJPY with an ATR of 24 I would risk 16 pips as 4% with a profit target of 10.7 pips.
I would have then taken another trade in the same direction with the increase in momentum under me for a gain of anything I could get my hands on.



very interesting


thanks for that again

makes perfect sense

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es/pip
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Postby es/pip » Thu Mar 19, 2009 7:34 pm

Shadik wrote:Es/pip look at this:

Image

is this good entry and exit? Or I have a luck?
Yellow lables are my entry/exit


Again I have to say : THANK YOU!!



this is just my opinion on that one----MO would be the one to ask for a solid reply

the bar u are marking your zline off of did not have a body 2x the prev bar and then you had an up bar and then a down bar with more momentum than the small up bar so----------i do not agree with that one----but i am glad that it worked.

had the bar that you marked indeed had a body 2x the prev bar's body and then you get a small up bar and then a down bar larger coming into the z area---- you have to be cautious and trade away from support(as MO says) and not treat it the same as the other setup


the increase in body size is saying that the momentum is increasing from the last period in time


hope that made sense----and i hope it was a correct explanation
Last edited by es/pip on Thu Mar 19, 2009 7:37 pm, edited 1 time in total.

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Shadik
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Postby Shadik » Thu Mar 19, 2009 7:36 pm

Thanks Mighty - I must sleep with that. Your advices are very important for me.

thanks

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MightyOne
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Postby MightyOne » Thu Mar 19, 2009 7:44 pm

Here is an ETERNAL from the other day placed risking the scalp change of 0.44 units:

Image

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es/pip
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Postby es/pip » Thu Mar 19, 2009 7:49 pm

MightyOne wrote:Here is an ETERNAL from the other day placed risking the scalp change of 0.44 units:

Image



lol


jeez


nice

:shock:

Shadik
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Postby Shadik » Thu Mar 19, 2009 7:51 pm

es/pip wrote:
Shadik wrote:Es/pip look at this:

Image

is this good entry and exit? Or I have a luck?
Yellow lables are my entry/exit


Again I have to say : THANK YOU!!



this is just my opinion on that one----MO would be the one to ask for a solid reply

the bar u are marking your zline off of did not have a body 2x the prev bar and then you had an up bar and then a down bar with more momentum than the small up bar so----------i do not agree with that one----but i am glad that it worked.

had the bar that you marked indeed had a body 2x the prev bar's body and then you get a small up bar and then a down bar larger coming into the z area---- you have to be cautious and trade away from support(as MO says) and not treat it the same as the other setup


the increase in body size is saying that the momentum is increasing from the last period in time


hope that made sense----and i hope it was a correct explanation



You have right es/pip. Probably it was bad entry - emotions or meaby a shock (because I see more than 2 days ago :) )on demo acc:)

After forming a new high there is a candle down with a bigger body marked with red number one.(be carefull it is not twice as big as previous) get ready there is a possibility. It is a body in direction of profit.


This is why I entry. Im still a novice but I think now I can more train than before - because now I know what I have to looking for:)

Es, I like yours EXPLANATION - day by day they teach me sth new:)
Thanks for yours effort and understanding:)

Shadik
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Postby Shadik » Thu Mar 19, 2009 7:54 pm

MightyOne wrote:Here is an ETERNAL from the other day placed risking the scalp change of 0.44 units:

Image



Omg it was fantastic. You are very good in this

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