dancingphil wrote:

Haggadah wrote:
I trade at 400:1 leverage
My Criminal busts my trades if I lose 90% equity
My lot size is 1 Lot per $1,000 equity, giving me 1% equity growth per 1 pip

DO REMEMBER THIS IF YOU TEST MY STYLE

I think this is gambling. Tried 1 lot for my $4000 demo account, at 20 pips dd for a single trade, my margin level went down to 200% and have no room to maneuever. Newbees, don't do this unless you have a lot of reserve to play. Please visit babypips on position sizing. http://www.babypips.com/school/position-sizing.html.

Haggadah

Each to their own Haggadah. Each to their own. But in reading my signature in your post I note a grammatical error I will fix now; thanks.

At 400:1 a I lot trade uses just over $300 for the margin deposit. The 20 pip drawdown that you mentioned leaves me with nearly $500 free margin to play with. Either price moves back in my favor or not. If not, my hedge kicks in to close me out at BE.

I am a large lot trader; not a high risk taker.

Phil

ross wrote:Phil - here is the Chin Alert indicator with sound files (put these in the sounds folder). Drag the horizontal lines to where you want the alert to sound.

FlyHighDrifter wrote:Seems to be a nice counter trade in progress from Eur/USD from the R2 level.... hope it makes it all the way back to DO!

dancingphil wrote:

FlyHighDrifter wrote:Seems to be a nice counter trade in progress from Eur/USD from the R2 level.... hope it makes it all the way back to DO!

Yes you are in the money on it; but you have adopted Option 3 per my post here.http://www.stevehopwoodforex.com/phpBB3 ... 636#p31636

For CT trades from deep within the SDC channel indy provided in that post, I'd recommend a DS3/DR3; though option one is the safer strategy to adopt.for a trade entry IF you must trade it.

With experience, I do think we can trade between the DS/DR levels for several CT scalps a day. Trading from outside the SDC channels should get your experience curve starting off on the right footing.

Good luck with it, and please do add a screenshot so that in 3 months from now we can still see what happened with the trade today.

Phil

nanningbob wrote:

theforexedge wrote:Bob

I'm experimenting trading on Weekly Charts with a hybrid of 10.2 & 10.3 and was wondering whom I should

ask if its possible to change the 10.3 MA BUY DP.DO / 10.3 MA SELL DP.DO EA's for a cross of the Monthly Pivot?

Thanks, JP

The EA would only need to be changed from using Daily Pivot to Monthly pivot. I sure someone can do that easily enough.

dancingphil wrote:

FlyHighDrifter wrote:

dancingphil wrote:

FlyHighDrifter wrote:Seems to be a nice counter trade in progress from Eur/USD from the R2 level.... hope it makes it all the way back to DO!

Yes you are in the money on it; but you have adopted Option 3 per my post here.http://www.stevehopwoodforex.com/phpBB3 ... 636#p31636

For CT trades from deep within the SDC channel indy provided in that post, I'd recommend a DS3/DR3; though option one is the safer strategy to adopt.for a trade entry IF you must trade it.

With experience, I do think we can trade between the DS/DR levels for several CT scalps a day. Trading from outside the SDC channels should get your experience curve starting off on the right footing.

Good luck with it, and please do add a screenshot so that in 3 months from now we can still see what happened with the trade today.

Phil

Thanks for the comments Phil - I had made the trade before catching up on the last few pages of this thread (it moves on so quickly!), so I had not had the chance to read your last piece of wisdom: Excellent stuff mate - just trying to get my head around it now.

Anyway here is the screenshot to go with the trade mentioned earlier in case it helps anyone (still using MS paint! ). I'm still using an older template of yours at the moment. Pleased to say it just hit my TP in the last few minutes!

Well done mate, and congrats on a tasty trade. Thanks also for the screenshot; your trade is now immortalized for other traders in months to come to follow in your footsteps as they climb the learning curve.

Phil