Immediatly de 20 pips so I closed to some 10 pip stop loss
Well unfortunatly stopped out for a small loss of 10 pips. The 5 m 21 EMA was controlling direction up with the sole time below it being on the bar I shifted my SL into a smaller risk. Oh well, no egy is flawless and this is the first loss in a long time.
Weekly total = 95
thread total = 254
Superior trades, maybe better should concentrate on 1 pair so that you may be an expert in it.
Absolutly I concur with you there on this one. My choice has narrowed down to 4 pairs. USD/JPY, EUR/USD, GBP/USD and AUD/USD. At the moment I am simply attempting to get a sense of the machine over a broader spectrum, to see whether there's results there. I am trying to limit my real trades into 1 or two pairs being the USD/JPY and EUR/USD like I only have a 2 pip spread for these in the worst of times.Originally Posted by ;
Running tight SL's the very last thing you need is a massive spread. I am trialling this on a demo account and my objectives are apparent to me. 100 pips each week on a consistant foundation with SL pips. At the moment I am attempting to improve on the sometimes 1:1 risk/reward but these can come with time and patience.
Thank you once again for you input, it's most welcome. Feel free to drop by anytime and may continued success be with you
Max
Get micro account, you can train your plogical in addition to your system live, demo doesn't have the problem you would encounter with live account.
Believe me even 1 cent / pip is going to take a toll in mind.
Yep I couldnt agree more, however I was in this situation 1 year ago when I first started trading. I exchanged a demo account, without any real rules or regards because my mindset was'its a demo, I could refresh it if I blow it' rather than'okay I know this is a presentation, yet if I blow this then my mindset isnt ready for a live account'Originally Posted by ;
I moved to live trading 1 month later. I new all of the fundamentals, what to look for etc, nevertheless after making 80 pips on my very first trade @ 8 lots ($1 per pip) I thought I was invincible. My second trade I dropped, the one after that and so forth and so Forth. I was winning 1 in every 5 and thought what I learned had got me no where. I then came here about 4 months ago, read a few threads and trialled some live. I blew my account about a month or so ago. I began with way to much now I look back on it. I exchanged very risky, not fully understanding a few of the threads I trialled.
I guess my point is I have faith in this method, and now my mindset is to double this demo account and proceed back to live. I have a little bit of funds left. IF I can find this method to have success, then I am planning to carry it through.
Right now since I have started my account has grown by just over 10 percent and I am pleased to see that, if it keeps growing then great, BUT I have to stick to this.
Be careful
Generally it end up, where it start, the demo still demo, 1 cent is still money.
Easy to make money on demo. It can simply be easy to trade live once you have master yourself, the system is changable. You're important hehehe.
Thank you for you words of knowledge, they are much appreciated. I hope you keep on your path to trading success, just as I am beginning mine.Originally Posted by ;
Cheers
Hey Cruze good to see you creating your own egy and having some success with it.Originally Posted by ;
Bear in mind however that the last month so the market was at a fairly solid trend accross the board and it seems all moving average methods must be working good.
Just curious... How will your method go once the market enters the inevitable that range period?
Is it possible that your MA's will no longer serve as an advantage but a hinderence (spell check!) ?
Coming from NB's thread I'm sure you will not have any problems there but just some food for thought
Well completed will last to check out the upgrades
Cheers
Completly understood. In reference to the consolidation variable I can't be sure. It's true that the markets are trending for a while now, even on the reversals and such we're getting some decent trends over time. My indiors are derived from the 30 min chart for your touch and I am trying to operate the 5 min chart for better entrance.Originally Posted by ;
Bear in mind my beginning to the week is always chart basics. Ie support/resistance plotted on the daily charts and 4 hourly, a fib research if needed. I use those as areas where we may not trade until a dip or break.
I'm just looking to get 30 pips per trade. To some it doesnt seem like much to other it might be alot. I am trying to work risk of 20 pips but 30 greatest and I move to breakeven when 15 to 20 pips is up. My weekly aim is 100 pips however will require 90 (3 successful trades verus no losses) and that I'm as happy as punch.
Who knows where this journey may lead. Hopefully to a complete time trading place, hell part time will be nice rather than working two jobs to make ends meet.
Take care, thanks a heap for droppin by. Dont be a stranger m8
Max
Well done will continue to check out the updates
Cheers