thread: Strategy to take safe pips every day

92791

Hello TheThing,

I'm not sure whether your entrances and prevent losses are actually correct re the machine rules (however toto4444 please correct me if I'm wrong).

I think you've just used the latest candle for your entry and prevent loss, whereas you shouldn't enter before a break of the prior low just before the upward candle, or the low of this upward candle itself (whichever is the lower). The stop should then be above the highest high also of these two candles just mentioned, rather than the most recent that is immedaitely candle.

Cheers, John.

So that makes Doug's latest article an erroneously set up commerce?

92791

So that makes Doug's most recent article an incorrectly set up trade?

As for me personally the entrance level is OK but SL should be a little higher in the high of previous candle.

92791

So making Doug's latest article an erroneously set up trade?

Its pretty difficult to be incorrect when I am following my own principles - lol
I place my stop 1 pip above the top of the retracement which is exactly what I did in my previous article. I thought that is exactly what toto was performing. Anyway competitive moves are being targeted by us and many transactions go into profit. I believe a tight stop is tighter the stop, the less risk you take, the more cash you can wager and the greater return you reach. Thats the way you make the big dollars - risk management

92791toto - could you please clarify this one?

At a short trade by way of example such as MAC-D's latest one... do you place your stop at/above the'resistance' candle, or at/above the greater high of either the resistance candle or the most previous trend direction candle such as the one preivous in this case?

Thanks, John.

92791 This is an example of a failure, just for the record:



The trade was shot on the very first pull back following the ema crossover. It did go into profit, as you can see. It had been possible to take this profit before the alteration.

So I feel the take profit has to be discretionary, as toto has stated. I think this system has excellent possibilities.

92791

This is an example of a failure, just for the record:



The transaction was shot on the first pull back following the ema crossover. It did move into profit, as you can see. It had been possible to take this profit prior to the alteration.

So I think that the take profit must be discretionary, as toto has said. I believe this system has great chances.

I had been watching this one too. However, as you can see 2.0600 is a significant degree, many times it played as support and resistance previously, so called price pivot. Besides around numbers are plogical barriers for your people so I wait for a break that is definite and would skip this transaction.
But anyway this system has a lot of possible

92791

toto - could you please clarify this one?

In a short trade by way of example like MAC-D's most recent one... do you place your stop at/above that the'resistance' candle, or at/above the greater high of either the resistance candle or the most previous trend direction candle like the one preivous in such an example?

Thank you, John.

Stop sucking up johnny - lol
you know where to place a stop.

Sometimes the retracement entails a string of candles developing a clear swing stage after price returns to the tendency. Sometimes that swing stage is above/below the first set. Thats makes a clear stop level. There was only 1 candle at the retracement so that it didnt produce a swing stage that is clear but still gave a high point to set your stop with. Obviously a greater stop would have worked but you'd have risk more and had to target more, therefore lowered your chance of succeeding. We are scalping.The faster you are able to get out in profit the greater. By what I have seen there's not any need to place your stop any farther away than just 1 pip beyond the retracement high/low. You're likely to lose a trade now and again but who cares

p.s Johnnyforex is a near trading friend of mineI dont speak to people like this generally. He's got a wealth of knowlege and expertise and is brilliant with coding so Im tipping we will see some interesting back testing and optimisation to really hone this particular technique, on top of what Toto is doing

edit: my very first loser. Im glad my cease wasnt any bigger looked what happened to this gold trade - lol

92791

quit sucking johnny - lol
you know where to put a stop.

Sometimes the retracement entails a string of candles creating a clear swing stage after price returns to the tendency. That swing stage is above/below the set. Thats makes an stop level. There was only 1 candle in the retracement therefore it didnt create a swing stage but nevertheless gave a point to set your stop with. Obviously a higher stop would have worked but you would have risk longer and needed to target more, therefore reduced your chance of success. We are scalping.The quicker you can get out in profit the better. From what I have noticed there's not any need to put your stop any farther away than 1 pip beyond the. You will lose a trade now and again but who cares

p.s Johnnyforex is a close trading buddy of mineI dont talk to people like this generally. He's a wealth of knowlege and experience and is brilliant with coding so Im tipping we Will see some interesting back testing and optimisation to really hone this technique, on top of what Toto is performing

Your P.S. explains a lot:

92791

Your P.S. Describes a lot:

check my edit out for a good laugh

92791

test my edit out for a good laugh

Yup, a nice one:

In my past examples I entered right at the rest of a signal candle not in the rest of previous to the signal candle. I know it smth contrary to the principles of this system as JohnyForex already explained but this is the way. . Your second bearish candle did not touch 10 ema in this way it may be a winner and in order for me it is ok to enter the rest of it. I am not wanting to make a winner out of the loser, it is just how I understood the principles from the beginning in a different manner