Some of my forecasts
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Re: Eur/usd
Sir, thank you very much for your reply! Sir thank you if you feel that I having making great progress,Sir recently I am trying to develop a different trading plan be consistent with a target of 1-2% of equity daily with strong ichi crossovers (I know it is not possible to get 20 pips everyday) I am just trying to get 30% every month from this trading setup I have a take profit set of 20 pips with a stop loss set of 20 pips ! In such cases I have 50/50 chances for both side ! What happens here is that I end up at the break even point! At times my trade is 18 pips positive and then the market reverses and hits my stop loss! With these stop losses I cannot closed my computer take a break and next time I come I feel good about it ! I would have to keep an eye all the time !some times time the market first hits the stop losses and then reverses and goes to my side! at these moments I know that the market would still be on my side but my stop loss gets triggered and I hate it that is why I don' like to use stop losses! What do you think sir about this where should be the stop loss for this?
the main thing is Sir that I "don't know where to keep my stop loss" for such cases!
Sir As I also keep long term trades But sir I need help with the stop losses here as wel lLike for the usd/chf as Raj said the bottom of the Weekly cloud stands at 0.9127 I know that we are going to see a reversal from there so I didn't set a stop loss because I didn't find any relevant place to use it I got upset on my trade because I thought the daily tenken sen should be hit before we see a move to the bottom of the weekly cloud and then the reversal that will take us to the weekly kinjun ! Sir I don't know where to keep stop losses for such long trades ! I find it irrelevant to keep stops losses for such long term trades ! Like sir eur/usd I did go long but as it had a huge move south sir I had to close the trade even If I knew that we are still due to for a correction I cloud have holded the trade but I had a doubt sir that
""what if the trend line of the down at 1.3452 gets corrected at first then we have a move north for the correction at 1.3952? If I hold the trade now that it has broken major h4 supports and 200 day sma It would be a drawdown of floating -400 pips !! If it goes to the 1.3452 then I would have been in -400 floating pips for holding a long position"!and then I though it would be better to close the trade on -93(I closed) then holding it on floating -400 pips if it reaches there"" sir, I do not have a stomach to take that kind of a draw down so I closed it! and ! Sir If I shorted the usd/chf at 0.8960 at this point what should I use the stop loss in ichimoku ? I just cannot find at what place a stop loss should be triggered like The S and R system I use in which a simple math is applied ! Sir please help me on this one !
Sir, thank you very much for your reply! Sir thank you if you feel that I having making great progress,Sir recently I am trying to develop a different trading plan be consistent with a target of 1-2% of equity daily with strong ichi crossovers (I know it is not possible to get 20 pips everyday) I am just trying to get 30% every month from this trading setup I have a take profit set of 20 pips with a stop loss set of 20 pips ! In such cases I have 50/50 chances for both side ! What happens here is that I end up at the break even point! At times my trade is 18 pips positive and then the market reverses and hits my stop loss! With these stop losses I cannot closed my computer take a break and next time I come I feel good about it ! I would have to keep an eye all the time !some times time the market first hits the stop losses and then reverses and goes to my side! at these moments I know that the market would still be on my side but my stop loss gets triggered and I hate it that is why I don' like to use stop losses! What do you think sir about this where should be the stop loss for this?
the main thing is Sir that I "don't know where to keep my stop loss" for such cases!
Sir As I also keep long term trades But sir I need help with the stop losses here as wel lLike for the usd/chf as Raj said the bottom of the Weekly cloud stands at 0.9127 I know that we are going to see a reversal from there so I didn't set a stop loss because I didn't find any relevant place to use it I got upset on my trade because I thought the daily tenken sen should be hit before we see a move to the bottom of the weekly cloud and then the reversal that will take us to the weekly kinjun ! Sir I don't know where to keep stop losses for such long trades ! I find it irrelevant to keep stops losses for such long term trades ! Like sir eur/usd I did go long but as it had a huge move south sir I had to close the trade even If I knew that we are still due to for a correction I cloud have holded the trade but I had a doubt sir that
""what if the trend line of the down at 1.3452 gets corrected at first then we have a move north for the correction at 1.3952? If I hold the trade now that it has broken major h4 supports and 200 day sma It would be a drawdown of floating -400 pips !! If it goes to the 1.3452 then I would have been in -400 floating pips for holding a long position"!and then I though it would be better to close the trade on -93(I closed) then holding it on floating -400 pips if it reaches there"" sir, I do not have a stomach to take that kind of a draw down so I closed it! and ! Sir If I shorted the usd/chf at 0.8960 at this point what should I use the stop loss in ichimoku ? I just cannot find at what place a stop loss should be triggered like The S and R system I use in which a simple math is applied ! Sir please help me on this one !
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Re: Eur/usd
Saif, you are making good progress on your methodology, but bankruptcy is around the corner if you don't get to step 2--money management.
Plus, how do you know for a fact that an exception to the rule does not happen and the USD/CHF breaks through the cloud.
I've also said it won't, but I am not right 100% of the time.
You need to protect yourself if you are wrong.
1-2% target? You are risking 100% with no stops.
You cited you hate your stop losses getting triggered. Would you not hate it more when there ends up being a sharp move against you and you bankrupt everything?
I could say more, but I'm trying to be nice. There is no excuse for not using proper money management in your trades. I can appreciate you being honest, and that is the only way to make progress, but no one has traded successfully without money management. You can't justify it.
Saif, you are making good progress on your methodology, but bankruptcy is around the corner if you don't get to step 2--money management.
Plus, how do you know for a fact that an exception to the rule does not happen and the USD/CHF breaks through the cloud.
I've also said it won't, but I am not right 100% of the time.
You need to protect yourself if you are wrong.
1-2% target? You are risking 100% with no stops.
You cited you hate your stop losses getting triggered. Would you not hate it more when there ends up being a sharp move against you and you bankrupt everything?
I could say more, but I'm trying to be nice. There is no excuse for not using proper money management in your trades. I can appreciate you being honest, and that is the only way to make progress, but no one has traded successfully without money management. You can't justify it.
Re: Usd/chf & eur/usd
Dev, I am doing good. How are you doing my friend. This thread has been very good and I am learning from Paul each day as it comes.
The best thing about him is that his style of thinking suits mine and he follows probabilities and think in the same way how a typical mathematician would do.
He has been a great help and it will be a long way for me.
Regards
Raj
Dev, I am doing good. How are you doing my friend. This thread has been very good and I am learning from Paul each day as it comes.
The best thing about him is that his style of thinking suits mine and he follows probabilities and think in the same way how a typical mathematician would do.
He has been a great help and it will be a long way for me.
Regards
Raj
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Re: Eur/usd
Saif, your analytical skills are really very good but there are few things that are missing.
1) I always add What If Scenario to my trades and have an alternate plan.
2) Imp thing, you and Forexworld always say that when there is trendline break it must come back to trendline anyhow (some stmts like this). As a normal trade, it shud come back but it is not must. We need to readjust our trade if it doesnt come back and continue with that. There is never a must in trading, its only high probability.
3) You just want to get 20 pips profit or loss. So ur stops are pre-defined and lot is fixed. It should be other way round by position sizing. Sometimes profits need to be running when u know that the move is big.
4) You should be able to see when a trade go reverse against u and still be normal as if nothing has happened. The more u get irriated then more u r prone to make mistakes.
Try to be as conservative as possible. I am sure that you will come back with a double bang.
Paul,
Is it a good tactic that I concentrate only 5 pairs instead of all as I feel that I need to take it slow and understand more.
Regards
Raj
Regards
Raj
Saif, your analytical skills are really very good but there are few things that are missing.
1) I always add What If Scenario to my trades and have an alternate plan.
2) Imp thing, you and Forexworld always say that when there is trendline break it must come back to trendline anyhow (some stmts like this). As a normal trade, it shud come back but it is not must. We need to readjust our trade if it doesnt come back and continue with that. There is never a must in trading, its only high probability.
3) You just want to get 20 pips profit or loss. So ur stops are pre-defined and lot is fixed. It should be other way round by position sizing. Sometimes profits need to be running when u know that the move is big.
4) You should be able to see when a trade go reverse against u and still be normal as if nothing has happened. The more u get irriated then more u r prone to make mistakes.
Try to be as conservative as possible. I am sure that you will come back with a double bang.
Paul,
Is it a good tactic that I concentrate only 5 pairs instead of all as I feel that I need to take it slow and understand more.
Regards
Raj
Regards
Raj
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