2.5 or 5 pips of risk - quotsnipingquot account
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Thread: 2.5 or 5 pips of risk - quotsnipingquot account

  1. #1
    a) multiple snipes per day account (open but explorer won't link,forexforum.co.zastaff is working on it. Will use myfxbook if it doesn't operate )

    As of today I am starting with a smaller account. The only difference is a half dimensions place is 10:1 (0.3% risk) and full is 20:1 (0.6% risk). If as powerful as I think it will be, I will devote more capital to it and go down to 5:1 half and 10:1 full.

    B)one snipe per day account (acc not available yet)

    A 2nd account trading the identical egy, but with no more than one transaction a day, and 100:1 leverage (3 percent risk). In addition, the trailing stop is LOCKED in 7 once price hits 10. Goal 10-20 pips. Close on reversal zone/candles. Maximum daily drawdown is 3 percent not 1.5%.

    C) one snipe a week account (acc not available yet)

    A 3rd account trading the identical egy, just looking for the best trade of the week. 1 minute candles at least 3 pips in size on average a prerequisite for entry. Leverage = 200:1 (6 percent risk)

    Title should be changed to Long Range Sniper. Would be great if mods/admin could make that change. Thanks.

    Most recently I found that I am most profitable when I snipe entrances on reversal points or breakout moves.

    The reason behind this is that I could use tighter stops (means better risk reward) but also because when I could time the market correctly (sniping entries), I almost never get stopped out anyhow (higher percent of winning trades). If I time that the market correctly it will leave my stop loss in the dust. You might even use a 1 pip stop if you didn't have to be worried about the spread.

    Will put a commerce explorer shortly once I set up my 5 or 3 pip s/l ONLY sniping account (independent from my primary account trading the bigger daily swings)


    -Good amount of my capital devoted for the account

    -Reversals

    -Breakout transfers

    -Requires an observable price gap/slip which allows for a broad target (difficult to explain ill usage chart)

    - I use an auto stop loss EA to instantly set stops. You realistically cannot trade with tight stops if you have to manually enter your stop each time.

    -If sniping EURUSD will use a 2.4 pip s/l
    (3 pips total risk with spread/commission, half position = 0.15percent risk, full position = 0.30% risk)

    -If sniping EJ will use 4.4 pip s/l
    (5 pips total risk, full position = 0.25percent risk, full position = 0.50% risk)

    - Minimum of a 10 pip target
    (0.50percent, 1.00% total )

    - 20 pips is perfect
    (1.00% half, 2.00% total ).

    -But in exactly the exact same time, if the gap to be filled is 40 pips, LET IT FILL THE 40 PIPS. Do not chicken out early just because you've got a nice profit proportional to your risk. That's 100% amateur status.

    - No complete sized trades allowed for the day, UNTIL a minimal 0.50% gain into account equity.

    - If account goes over 2.0% profit for the day, then a loss causes a dip below that2.0% gain mark, you have to STOP trading for this day.

    - Maximum daily risk = 1.5%

    -Some of the most difficult features of trading would be LETTING WINNERS RUN TO THEIR RESPECTIVE TARGETS. This type of plogical challenge as any counter trend tick sets off anxiety a complete reversal of your profits might be coming.

    -THIS IS JUST FEAR NOTHING MORE (when the target hasn't been attained yet, if it's, then its a good time to get out)!

    -If I truly like my odds of a powerful move, I will close half the transaction in the nearest resistance and give it a proper stop loss. Especially if I already have a nice gain for the day and I'm searching to get 50-100 pips more out of this free trade. No reason not to make the most of longer duration moves just because this account snipes entrances. If the stop isn't going to get struck, more power for you to let the transaction RUN!

    Half position = 5:1
    full position = 10:1

    -Max amount of loss per day = 1.5percent

    EJ disperse = ~1.7
    EU disperse = ~1.0



    I am quite confident this will be a really profitable account. We will see within a month or so.

    -R2R





  2. #2

  3. #3
    See what I mean though?

    I could have even used a 2.5 pip quit here and it wouldn't have touched it. Price instantly moved up once I entered.

    By far the largest breakthrough in my own trading.


    Can you guess what caused me to enter there?

  4. #4
    Quote Originally Posted by ;
    See what I mean though?

    I could have used a 2.5 pip quit here and it wouldn't have touched it. Price instantly moved up after I entered.

    By far the largest breakthrough in my own trading.


    Could you guess what made me enter there?
    No.... What?

  5. #5
    Quote Originally Posted by ;
    No.... What?
    Lower TFs revealed divergence on a pierce of their lows. Additionally M15 was at 5 on the RSI. And there was a Wonderful gap slide down to the new lows, which had to be filled at least (Though the goal was to fill a much larger one)

  6. #6
    Where's the divergence on that lower time frame m1 chart at the low you're talking about.

    I am buggered if I could see it. Can you mark it in please.

  7. #7
    This divergence on the 5m chart in real time may only be verified after the 5 minute pub closed.
    Way after you had entered.

  8. #8
    Quote Originally Posted by ;
    This divergence about the 5m chart in real time may only be verified following the 5 minute bar shut.
    Way after you had entered.
    But someone must put bets on a fresh low (with divergence potential revealing ) or the price will never move up in order to affirm that divergence.

    You also don't need to get the exact low. You merely need to input when the price takes off and doesn't look back to carry out your tight prevent.

    You can enter in the midst of a movement if you know its going to spike 10 pips from your stop loss right after you input. Breakout trading, etc..

    Anyway.

  9. #9
    Quote Originally Posted by ;
    Where is the divergence on that lower time period m1 chart in the low you are talking about.

    I am buggered if I could see it. Can you mark it in please.
    Sometimes instead of divergence it will just max out the RSI and price will proceed while RSI begins sloping higher. Feeling as good or nearly as good as a divergence actually, IMO.

    Markets always rebalance and fill the inefficiencies (which would be the breakout moves that occurred just prior to bottoming out). The candles and wicks involved in a price movement, the poorer it's and more likely it's to get filled completely on a retracement.

    Anyway just my thoughts take em or leave em!

  10. #10
    Nice scalping and fading

    But still can not get how to see the gaps u mention in your post though after looking at the charts published.

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