Conquering final fx frontier – the global challenge

Discussion in 'Forex' started by howardroark, Dec 30, 2016.

  1. howardroark

    howardroark Well-Known Member

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    Here I go ...
    FIRST TRADE ...
    EU LONG @ 1.0506 ... Limit 50 pips ... SL 25 Pips ... 1:2 R2R ...
     
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  2. howardroark

    howardroark Well-Known Member

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    Story now ...

    [​IMG]

    [​IMG]

    Target Hit ... 5$ profit ... on a 1,000$ account, tht's .5% for the day ...
    No over trading for me ... Done for The Day ...
     
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  3. howardroark

    howardroark Well-Known Member

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    Just before shutting down the comp ... Saw an Opportunity ...
    Who AM I to say no if the Market wants to bless me with 5 more $ ...
    10$ for the day ... On a 1,000$ that 1% for THE DAY ...

    [​IMG]
     
  4. howardroark

    howardroark Well-Known Member

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    1 Trade Hit da Target ... 2 trades hit TSL ...
    2 trades in Play ...
    Waiting for them to play out to Update ...
     
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  5. howardroark

    howardroark Well-Known Member

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    Yesterday's Trades ... 3 Trades ... 1 Hit the target ... Other 2 hit TSL ...
    At the end of 5 trades, per my strategy & Planning, I shud hv made 27$ ... But realized 19$ ... Have to make 8$ more in the next week trades ...

    [​IMG]
     
    Last edited: Jan 7, 2017
  6. Relish

    Relish Well-Known Member

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    How many pips are TSL Sir?
     

  7. howardroark

    howardroark Well-Known Member

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    It depends on session, week of the day, strength of the trend etc ...
    Normally, for EURO pairs 20-25 pips, for GBP pairs 30-35 pips ... If the Trend strength is good, I trial by previous candle H/L
    Hope it helps ... Shoot if you have any doubt ...
     
  8. Relish

    Relish Well-Known Member

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    Can we use auto trailing SL when our trade is good in profit like 50Pips in eurusd?

    And previous low of candle is giving only 16 pips profit then put 15Pips SL Then make it auto trailing Sl by 30pips. Is it good way to use TSL ? Thank's
     
  9. howardroark

    howardroark Well-Known Member

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    TSL is about maximizing the profit by keeping minimum risk and pocketing pips along the trading journey ...
    I do use auto TSL in the middle of a trend ....
    But if I'm entering a newly started Trend, I follow by previous candle H/L as this gives larger profit as smaller TSL gets hit more often than not ...
    1 more way I use TSL is ATR(14) ... This gives more clarity about the momentum ...
     
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  10. howardroark

    howardroark Well-Known Member

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    4 trading days are over ....
    Result/s till now ...
    37$ profit ... thts 3.7% on 1,000$

    [​IMG]

    As I was aiming higher profits from KPL's, all the trades hit TSL ...
    Have to rethink the Targets
     
    Last edited: Jan 11, 2017
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