Pips in wheelbarrow - Trading FX profitably
- Thread starter Galts Gulch
- Start date
Little Fundamental to help Technical on Gold and Euro ....
There is no much demand for Physical yellow metal. USD is stabilizing ... These two things out together, Gold does not have much support to head North. Better option is to keep Shorting Gold whenever there is a pull back.
Same is true with Euro. Euro as an Economy is weakening. Employments are shrinking. GDP is not that encouraging. With all this put together, if EURO goes ahead with its proposed more Sanctions and Russia's threatening reaction of banning imports from EURO zone, will hurt Euro, a lot. All Euro pairs are falling South ...
"The truth is not for all men, but only for those who seek it"
There is no much demand for Physical yellow metal. USD is stabilizing ... These two things out together, Gold does not have much support to head North. Better option is to keep Shorting Gold whenever there is a pull back.
Same is true with Euro. Euro as an Economy is weakening. Employments are shrinking. GDP is not that encouraging. With all this put together, if EURO goes ahead with its proposed more Sanctions and Russia's threatening reaction of banning imports from EURO zone, will hurt Euro, a lot. All Euro pairs are falling South ...
"The truth is not for all men, but only for those who seek it"
Training Chart .... Maximizing Profit .... Scaling in / Add Positions Strategy ....
This Short Swing moved 110 pips and this move generated profits like this ...
1. First entry .... 1 lot .... 90 pips .... total 90 pips
2. Second entry ... 2 lots ... 60 pips .. total 120 pips
3. Third entry .... 4 lots .... 30 pips ... total 120 pips
Total 330 pips and I trade standard lots @ 10$ / pip ... That is 3300$ profit ... On a 15,000$ account ... That is little more than 20% profit in 1 swing ... in 1 session ...
Some one might ask ... total 8 lot means 8000$ margin on 15,000$ account, which is more than 50% exposed in the market .. what happened to the "Do not expose more than 20% of the equity with all open positions put together" RMS? ...
Here is how I took these trade ...
1. When I took the first one lot sized trade, I did not have any other trade, coincidentally. 1 lot on a 15,000$ account is 6% risk.
2. I opened 2 lots trade, after the first trade was running with 30 pips profit. While opening the second trade, I moved the SL of the first trade to 20 pips and had hard SL of 15 pips for the second trade. This way, I was reducing my risk on the trade and in spirit, I had only one open trade (again at 6% risk) as my first trade was already running in profit, above the SL of the second trade ...
3. I opened 4 lots trade, when my 1st trade was running at 60 pips profit and 2nd trade was running at 30 pips profit. Now I moved the SL of my first trade to 45 Pips, SL of 2nd trade to 20 pips and third (4 lots trade) had a 15 pip SL. Now, again, as my previous 2 trades (worth 3 lots) were already running in profit, my risk on the trade trade again stood at 1 lot (again 6%) ...
4. As soon as TDI started hooking, bending (where I have mentioned CLOSE), I closed all the trades.
If some one were to ask, how I was sure the trend will run this big. I was not sure. But 4H signal was strong and look at the D TF candle as well ....
This is Pips in Wheelbarrow ....
And we keep getting this king of Highly profitable set ups, every 10 - 12 days. That is the reason, if I doubt even a bit about a set up, I give them a miss and if at all I enter and the market reverses on me, I kill the trade immediately for a small loss rather than waiting, praying and hoping that it comes to profit. I add positions to a winning trade ONLY and therefore no Martingale trading strategy for me ...
"The question isn't who is going to let me; it's who is going to stop me"
This Short Swing moved 110 pips and this move generated profits like this ...
1. First entry .... 1 lot .... 90 pips .... total 90 pips
2. Second entry ... 2 lots ... 60 pips .. total 120 pips
3. Third entry .... 4 lots .... 30 pips ... total 120 pips
Total 330 pips and I trade standard lots @ 10$ / pip ... That is 3300$ profit ... On a 15,000$ account ... That is little more than 20% profit in 1 swing ... in 1 session ...
Some one might ask ... total 8 lot means 8000$ margin on 15,000$ account, which is more than 50% exposed in the market .. what happened to the "Do not expose more than 20% of the equity with all open positions put together" RMS? ...
Here is how I took these trade ...
1. When I took the first one lot sized trade, I did not have any other trade, coincidentally. 1 lot on a 15,000$ account is 6% risk.
2. I opened 2 lots trade, after the first trade was running with 30 pips profit. While opening the second trade, I moved the SL of the first trade to 20 pips and had hard SL of 15 pips for the second trade. This way, I was reducing my risk on the trade and in spirit, I had only one open trade (again at 6% risk) as my first trade was already running in profit, above the SL of the second trade ...
3. I opened 4 lots trade, when my 1st trade was running at 60 pips profit and 2nd trade was running at 30 pips profit. Now I moved the SL of my first trade to 45 Pips, SL of 2nd trade to 20 pips and third (4 lots trade) had a 15 pip SL. Now, again, as my previous 2 trades (worth 3 lots) were already running in profit, my risk on the trade trade again stood at 1 lot (again 6%) ...
4. As soon as TDI started hooking, bending (where I have mentioned CLOSE), I closed all the trades.
If some one were to ask, how I was sure the trend will run this big. I was not sure. But 4H signal was strong and look at the D TF candle as well ....
This is Pips in Wheelbarrow ....
And we keep getting this king of Highly profitable set ups, every 10 - 12 days. That is the reason, if I doubt even a bit about a set up, I give them a miss and if at all I enter and the market reverses on me, I kill the trade immediately for a small loss rather than waiting, praying and hoping that it comes to profit. I add positions to a winning trade ONLY and therefore no Martingale trading strategy for me ...
"The question isn't who is going to let me; it's who is going to stop me"
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Good trades GG. Well done. And thanks for posting the charts of the failed setups (I had requested it)
Since you are open to questions, I see that you go for high probability trades, and add on to winning positions. I would like to know :
1. Statistically how many failed trades you have compared to winning trades.?
2. What would be your Win/Loss ratio? i.e Points earned Vs. points lost?
Thanks.
Since you are open to questions, I see that you go for high probability trades, and add on to winning positions. I would like to know :
1. Statistically how many failed trades you have compared to winning trades.?
2. What would be your Win/Loss ratio? i.e Points earned Vs. points lost?
Thanks.
@DSM
Most indicators are trend trading systems. So, first (1) look if the trend exists and second (2) take only with-trend signals.
Your chart clearly shows downtrend (I don't know where are supports and resistances or trendline), now mark only with-trend entries and see how many times it failed.
I have backtested it on EURUSD and NIFTY. It is a successful strategy when traded with-trend.
Only GG will tell us if he expects to take trades against trend. If answer is yes, forget about this strategy.
Most indicators are trend trading systems. So, first (1) look if the trend exists and second (2) take only with-trend signals.
Your chart clearly shows downtrend (I don't know where are supports and resistances or trendline), now mark only with-trend entries and see how many times it failed.
I have backtested it on EURUSD and NIFTY. It is a successful strategy when traded with-trend.
Only GG will tell us if he expects to take trades against trend. If answer is yes, forget about this strategy.
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