about to throw the towel into the ring - page 3
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YES, Check it out guys!!!
THE TRO HIMSELF!!!
LETS DRAIN THE BANKS!!
the basics have been covered I think MM is a huge part of your Failiur but just keep trying and be patient! it will eventually work out for you!
thanks
Folks I have to show this crazy entry....
Keep in mind that when I started the trade at the 50% fib the GBPJPY was at a spread of -20.
Nothing but fibs plotted on the H1 time frame, entries on the 5 min timeframe and a peak at H1 BIAS.
I am still in the trade. It "may" reach the 38.2% fib. At this point my trailing stop loss is at 200pips. No significant risk now. I can afford a 200 pip loss and still be ahead.
Hmm, what is the difference between patience and greed???
I was just targeting 30 pips :P and look what happened!
If anyone needs info let me know... I will gladly help.
thnx for the replys guys. Xmess7 i have to say you opened my eyes were we all looking for fancy trading systems while we overlook the basics of trading.
thnx for the replys guys. Xmess7 i have to say you opened my eyes were we all looking for fancy trading systems while we overlook the basics of trading.
Bro:
I really recommend you check out TRO's indicators. You can goolge "TRO indicators MT4". You will find many of his free indicators. You can donate to get other indicators from him. I have not used the "donational" indicators, I only use the free ones. They work as well.
I also recommend the TRO's BUZZARD and RULESOFTHUMB methods. Those are by far the easiest to grab pips.
If you need any more info PM me
Jess
This thread made me really do some homework. I have been trading on some demoaccounts with succes for the last couple of weeks although there is still much to do. One of the things i really need to work on is to set a stoploss.
I have been nailed a few times by u-turns etc see statement.
But overall my trading skills are improving. I would like to thank all of you who supported me with comment in this thread.
It would be unwise to have a stop loss of less than 30 pips for euro usd,therefore your profit target must be a minimum of 95 pips. Most of stops on euro usd tend to be around 50 to 80 pips .Other pairs are 100 pips plus for gbp/jpy Allow for 15 consecutive losing trades.Listen to the experiened.period.
I have been trading on the 1 min chart. The previous system wasn 't ment to be so i did some research and came to a nice scalping system. The reason for the stoploss is to protect my equity for a max drawdown of 2%. In most cases it never came towards the stoploss area since i don 't let a winning trade turn into a losing trade. This last rule saved me a lot of (virtual)money in the demoaccounts. But from time to time these u or n-turns come up and
with no stoploss there goes your max 2% drawdown. But you must admit those values listed above aren 't effective on a scalping system.
DEC has been a good month although i had some luck from time to time i also learned from some mistakes. I mentioned it was a scalping system but i have to correct that since technically scalping is trading < 1 min.
probability and statistics ,how often you've got your profit that's trading
Hi Guys, About to close my account but i am giving it on last change with hopely some help from you guys. I will explain what went wrong: I started with 5400 € but atm 3400 € are left, the main reason why is amount taken a dive is i let my losses run and my profits were tight. After a while i realised i need to start using stoplosses but my timing is very bad it looks like. Most of the times my stoploss has hit. After playing the 1 min charts i started playing with the 10 min chart in combination with the 1 hour chart. I am using the kolachi method as trading system and use an 10 pip stoploss. My broker has an levarge of 1:50 and a margin requirement of 2,5%. Perhaps someone can advise me! I think the entry method needs to change and perhaps my trading method aswel. Thnx in advance