Captain Jack wrote:A couple from earlier today....
CJ
Hi CJ,
Any chance you could annotate these charts with where you see the 3 pushes.
I'm trying to work my way through the thread and get up to speed so apologies if my question appears naive.
I am compiling a bunch of other questions which I'll put to you in due course if thats ok.
Chris
There are no 3 pushes here on these charts, I've just taken a few trades of the "W" patterns and pins...I'll grab these all day long if I'm watching and they appear. 10-20 pip trades that add up.
When you are looking for 3 push moves off the lows or high, you are looking for ADR in pips...No sense looking for something that's not there at the time, but nothing wrong with taking what is given...
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
Hi CJ your willingness to help so many is truly exemplary and hopefully for many of us life changing. I do have a question for you when you get the chance to answer, regarding lot size and money management. I'm used to trading percentages rather than pips but I am rethinking my approach. For instance if I set a soft stop loss (I use an EA that closes position if candle close crosses a named horizontal stoploss line) of 15 pips I'll assign a risk percentage to that say 1%, so if I'm closed out I loose the risk percentage but if I gain 45 pips I gain 3%. The alternative is just assigning a set lot amount say 0.1 lots regardless. So my question is how do you determine your lot size, do you trade percentages or are you looking for pips?
Any thoughts on this setup? My novice eyes think it looks good.
Thanks
Looks like it's had 3 steps lower and if you notice, the tick volume is dropping with each step....lot's of pins to the downside are trapping shorts there...
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
Kruspe wrote:What a "hairbrush" pattern .. btw I was rather out of the market today, I think there was enough room for foxy to make false moves, manipulations etc.
You could have grabbed some pips off that had you jumped it...
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
pips400 wrote:Hi CJ your willingness to help so many is truly exemplary and hopefully for many of us life changing. I do have a question for you when you get the chance to answer, regarding lot size and money management. I'm used to trading percentages rather than pips but I am rethinking my approach. For instance if I set a soft stop loss (I use an EA that closes position if candle close crosses a named horizontal stoploss line) of 15 pips I'll assign a risk percentage to that say 1%, so if I'm closed out I loose the risk percentage but if I gain 45 pips I gain 3%. The alternative is just assigning a set lot amount say 0.1 lots regardless. So my question is how do you determine your lot size, do you trade percentages or are you looking for pips?
Thanks
Pips400/Mike
My lot size is determined by my SL...which is usually 10-25 pips.... My trades will be in the 3-10% range...
If you have trouble figuring out the lot size, here's a decent calculator that will help you set you SL and figure your position size.
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
.. btw I was rather out of the market today, I think there was enough room for foxy to make false moves, manipulations etc.