number16
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Thread: number16

  1. #1
    The number 16 was one of my lucky numbers growing up.
    The way I arrived about it, I am unsure.

    I attended art class in my preliminary school, the teachers title was Ms. Davis. Each week or so she'd give away stickers to whoever could select the number she had believed up in her head. Luckily for me the sole amounts she'd ever choose, were 16 and 6 ( my other lucky number ). Yet somehow, nobody would every grab on to it and I'd win each time.

    Yetthe same simplicity of insight and winning that struck me so well in my childhood has been a polar opposite in the world of currency trading.

    Number 16 isn't simply a lucky number of minebut my 16th account.

    Some I lost a few thousand on, a few I lost a few hundred, and a few I lost just a few dollars. Needless to say, I've lost quite a little cash trading because I started in October 2010.

    Alright, debut completed.

    The aim of this thread is to subject my trades by exposing them to the light of the public. I've begun many get rich fast threads onforexforum.co.zato no avail. I hope that with the help of the others, and much insight from myselfI can create a few simple rules to better my trading methodology and supply a potential of profitable trading ventures inside the Forex world.

    Faults that I need to operate on:

    Stop Loss; I typically never set a stop loss, I then watch the 10 trades I made that day all fall apart because the transaction moves 100 pips from me and that I bust another account.

    Take Profit; I get greedy, and plan to get a monster 250 pip gain and retirement from the end of the week!

    Trade entry; I go against my entry rules, and enter wherever the f* I need because it feels great. I then proceed to eliminate all my money in great favor to the brokers who deserve it so.

    In light of the above I've decisively conjured a few simple rules to handle my trading by. I am a firm believer in ease, and a minimalistic and clear oriented approach to almost everything in life with reap you with what you yearn.

    Quote Originally Posted by ;
    Rules of Engagement:

    Enter trades on a Fibonacci or Plogical level; ie: 1.6000. Round even quantity.

    Set prevent losses behind or above a Fibonacci or Plogical level, using a clear distance pertaining to either volatility or the pair at hand. Ie: GBP/JPY would be more volatile about exposing resistance and support lines, therefore I'd give more leeway to a Stop Loss behind or above a R/S level with this particular pair than I'd EUR/USD per say which would honor those lines with much less volatility. Following 10 pips, I shall always move my S/L to 1. Whatever the situation.

    Do not exchange during news.

    Do not over trade.

    Trade dimensions; I am not one to exchange 1%, 2%, 5% or what have you. I will start using.5 Lot increments and increase exponentially from that point.

    And that I Might Need to reiterate this again, ALWAYS SET A STOP LOSS.
    My remaining funding is 1691.27.

    My trades will be logged via myfxbook.com. I'll post some set-ups here when I could, and a few will not be posted in any way.

    Some notes concerning my trading style, I don't use indiors, I rely only on Service and Resistance. Price Action and a few basic Fundamentals can do the rest of the talking.

    I look forward to the development of this thread, or perhaps my lack of dediion to it, and my to strike an equity of 0.

    http://www.myfxbook.com/members/henriquezpaul//104064

  2. #2
    And just as I got from my commerce, it takes off in my direction

    Oh well, Profit is far better than reduction.

  3. #3
    GBP/JPY short. Take Profit at next Support intersection @ 135.17.

    SL moved to 1.

    We've no defined Fibonacci here, however as you can see there's an imaginary line of support and resistance, while it is a pivot I am not certain, as I do not use these. However, I took the brief predied off the GBP/USD plus it had just broken support at the precise place of this fanciful service break on GBP/JPY; and EUR/JPY took a turn too.


  4. #4
    Quote Originally Posted by ;
    GBP/JPY Brief. Take Profit at next Support intersection @ 135.17.


    Goal place struck. Out for a couple hours.

  5. #5
    Short order on EUR/USD.

    H4 Bearish Reversal Pattern.




  6. #6
    End of week. Overslept this morning, missed out on a few trades I'd have been curious about.

    Started on Thursday, and pretty much only traded that afternoon as I was only able to get 1 trade at early Friday afternoon'around 2amish.

    19.59% profit week .

  7. #7
    Decent set-up. Ideally would shoot TP in 1.07317 (Fibonacci) unless I get a brief sign on H1 and H4; then I would hold on to it.


  8. #8
    As the price drops, I am getting traces of a continuation in drop on Daily, H4 and H1 stochs. Hold on for now. Stops above Fibonacci.






  9. #9
    Was hoping to get some good trades into begin the week. But nothin', major markets are on vaion.

    Hopefully I can get a few transactions in tomorrow morning for NY open, but it looks like I might be going to bed for the time being.

    On other notes; I have loed an addition to my comparatively straightforward entry and exit egy, which is MTF stochastics.

    I had the S/R levels to a T; however today I've the leadership. Let's see if this ends up being a very lucrative week.

  10. #10

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