psaini1973

Loss of $ 316, trade went wrong way. closed it with minimal loss. approx 10 pips per pair

Check out: http://img717.imageshack.us/img717/5494/eurq.gif

http://img717.imageshack.us/img717/5494/eurq.gif

@ canforex: thank u so much 4 all the kind help, highly appreciated

@raiden: theres no new ver. of this system

@hermes: hermes first of all it was not a experiment, i am not experimenting 4 the last few months and nor i was lucky in this particular trade, simple logic was the power of correlation between these 3 pairs. this particular trade was based on the downward movement of EU/JP and the upward movement of UC, the amount of money earned in each pair answers 4 itself, Yesterday i took this trade only as i had to leave 4 some imp. work, as my assessment was right EU and EU/JP went south and i would have made some more money trading again.

Moreover forex trading is based on the probability, one can use any kind of best of the best indicator but that would also go wrong at some point of time, the main thing 4 me is to enter a trade when i feel probability is highly in favour ( but its not a guarantee)

Losses are a part and parcel of this work and i am not afraid of it, until and unless i lose money i will not be able to earn from forex. its a hard and a cruel fact

@ ikke: hi ikke ur ans is the first paragraph of hermes ans.

@ vinpiper: yes frnd u r right in the timing of ur trade, make it 03:45 pm to 06:00 pm max, try not to enter any trade 45 min b4 the open of usa mkt.

Good Morning in London and i just made $740. ;)

Check out: http://img17.imageshack.us/img17/3189/eurb.gif

http://img17.imageshack.us/img17/3189/eurb.gif

Hi:

Thanks for sharing your trade examples and I am trying to learn this system by looking at your trade.

I do have some questions if you don't mind.

 

1) What are your 'mental' stoploss?

2) And when and how do you decide when to pulled the plug?

3) What are your normal DD trading this sytem? I thought I read somewhere in this thread that you risk approx 40 pips. Do you always stick to your rules when it comes to Stop Loss (no 2nd guess)?

4) from what I see , you closed everything as 'basket'. Is this how do you usually trade?

5) Do you trade more than once per day?

 

Thanks! :)

Hi fx4_ever. i have already ansrd your query in the previous post.

http://indo-investasi.com/showthread.php/14520-Pip-Accumulator/page83

Post no. 829 and 830

"Psaini,

I noticed you do not use hard SL and TP. What are your rule of thumb for these 'mental' stops and tP? In other words, when do you pull the plug and exit your trade?"

"I have TP and SL in My mind according to the situation, let say the next Resistance or support. My minimum TP when i open a trade in EU is 30 pips but i can close it anywhere b4 30 pips if i feel trade is not moving fast enough or their is resistance or support.

 

My SL is 30-40 pips, i rarely stretch it beyond this limit but i have stretched it on a few occasions again depending on the circumstances. if a trade is taking too much time to complete then also i close it with wat ever profit or loss i am in .

 

When i open a trade i am always on my toes to close it whenever i feel uncomfortable ( todays trade was an exception, there was no reason or logic to close it, its not a mistake but its a blunder at my end) . if u look at yesterdays both trades the 30 pip TP in EU was not achieved and i closed it as i was not feeling comfortable."

And yes i do trade any no. of times if their is a opportunity.

i just wait 4 the right opportunity to trade, if their is none then i dont trade. few weeks back i didnt trade for continuous 4 days as i didnt felt comfortable

I am using the power of correlation in my trading in EU, EU/JP and UC. so 95% of times entry and exit is at the same time. ( Pls remember EU is the major pair 4 me)

Thanks

Pathetic range bound mkt, usa closed. i was just sleeping the whole day. I-)

just managed some bread and butter

Made $ 352.

Check out: http://img685.imageshack.us/img685/7466/eurn.gif

http://img685.imageshack.us/img685/7466/eurn.gif

Hi psaini1973,

 

welcome back. Nice to see your good results.

 

Please be so kind to tell me what is your pivot indi on your chart?

Hi thanks. my pivots are the normal pivots, i have earlier also said their is nothing special about them. i have posted them here also. u can download.

Hi psaini, good to have you back. I wasn't trading today due to US bank holiday, but you spotted nice trade. Just a quick question - where do you get news like bank interventions as mentioned a few pages back about CHF intervention.

Also you mention "Took this trade after all the EU News was over". I do not see any Euro news on forex factory today.

I check only FF for the news.. here are the EU news 4 today at FF. And moreover i dont c any USA Bank Holiday today at FF.

12:00pm EUR

French CPI m/m

[Open Detail]

0.2%

0.1%

-0.1%

[Open Chart]

12:30pm EUR

German Final CPI m/m

[Open Detail]

0.0%

0.0%

0.0%

12:30pm EUR

German WPI m/m

[Open Detail]

-1.0%

0.2%

0.3%

1:15pm EUR

French Industrial Production m/m

[Open Detail]

-1.7%

-0.6%

0.5%

2:30pm EUR

ECB Monthly Bulletin

[Open Detail]

2:30pm EUR

Italian Industrial Production m/m

[Open Detail]

-4.8%

-2.6%

3.9%

I am Back with a Bang.

Hello friends from today i m back to my forex trading, marriage in the family is over so i am ready to rock n roll,

It seems the thread has gone silent :(

Anyways Just made $ 1063 8-).

Took this trade after all the EU News was over

Check it out : http://img220.imageshack.us/img220/6276/eurj.gif

http://img220.imageshack.us/img220/6276/eurj.gif

It seems that the thread has gone quiet :-/

Anyways got some time out of my busy schedule and took a trade.

Profit of $ 954. 8-)

Check out: http://img69.imageshack.us/img69/1937/eurr.gif

http://img69.imageshack.us/img69/1937/eurr.gif

Hello Frnds i am back for a while...

Just made $ 1532 8-)

I am absconding for the whole last week, As we are having a marriage in our family so i am very busy and occupied in the preparations, i will be busy till 10 Nov. So till then when ever i get time i will try to trade and be in touch with u people. sorry if i didn't ans any of the queries.

So in the meantime Happy trading and green pips to all of u ...

Check Out : http://img27.imageshack.us/img27/5473/eurw.gif

http://img27.imageshack.us/img27/5473/eurw.gif

Yes soundfx, i also believe that this EA should be used with some patience and discipline, normally people treat EA like slaves who are working 24 hrs and 365 days a year to make them some good money,

If this EA is used around london and usa open and not trading around the news then it would give fantastic profits, one or two trade per pair like EU UC GU would give very good profit, i would recommend shutting down the EA when conditions are not favorable.

Pls note i am manually trading this system,

just my two cents

Hi Psaini

Thanks Forexfactory rated the news as medium risk Do you also avoid trading when the risk rating is medium

Hi Vikram... i try to avoid any type of news, few months back i have paid a heavy price even of the low risk news..

psaini

Where did you get the news Forexfactory did not mention it

I got hit

Hi Vikram. i also use FF for the news, as i trade after the news, yesterday EU monthly bulletin was to be announced. exactly as it was announced EU started to come down heavily so my initial thot was that its bcos of the monthly bulletin report...

psaini1973

 

Since you closed this trade early like you say, do you ever re-enter when the trade pulls back of the Hi or Lows?

Well i closed this trade not early but very early. to be precise i closed this trade in 6 Minutes 4 no solid reason wat so ever.

95% of the times i dont enter. Like in this trade the upward movement was sudden and i think it was more than 30 pips after i closed the trade, so i wont enter.

Psaini,

I noticed you do not use hard SL and TP. What are your rule of thumb for these 'mental' stops and tP? In other words, when do you pull the plug and exit your trade?

I have TP and SL in My mind according to the situation, let say the next Resistance or support. My minimum TP when i open a trade in EU is 30 pips but i can close it anywhere b4 30 pips if i feel trade is not moving fast enough or their is resistance or support.

My SL is 30-40 pips, i rarely stretch it beyond this limit but i have stretched it on a few occasions again depending on the circumstances. if a trade is taking too much time to complete then also i close it with wat ever profit or loss i am in .

When i open a trade i am always on my toes to close it whenever i feel uncomfortable ( todays trade was an exception, there was no reason or logic to close it, its not a mistake but its a blunder at my end) . if u look at yesterdays both trades the 30 pip TP in EU was not achieved and i closed it as i was not feeling comfortable.

Hi Psaini, Are you closing your trades manually, I noticed you are closing them all at the same time. Did you get influenced by the pullback on the EURJPY ?

Shabz i close all my trades manually and mostly at the same time. i dont remember about EU/JP pull back, as soon as i closed my trade with 6 min. of time things changed. i have no idea why i couldn't wait longer than 6 Min. May b loss of concentration or wat ever i don't know.

But i am very angry with myself. fast trades like this rarely comes and that too with a very good profit

Just lost an opportunity to make at least $ 1000. took the trade , assessment was right , but just couldn't keep my patience even for few minutes... This trade lasted only 6 Min. :hammer:

I dont know wat happens to me sometimes... Patience and Disciple hard to come still trying to attain both of them.

Loss of $ 156.

My Tragic impatient trade. http://img403.imageshack.us/img403/6276/eurj.gif

Edit Post: I have re uploaded the image, as the buy sell arrows are hard to see , i have oval marked them

http://img403.imageshack.us/img403/6276/eurj.gif

@ jmaran: Thanks 4 all the nice words... as i am trading only after London open so iam loking 4 the break of daily high n low and recent high n low . 4 that i watch 5 min Tf along with 15 min Tf. i have little bit of knowledge about breakouts of the highs n lows. u can also develop that after a month practice or so ... best of luck

@ metal: Yes using non lag ma along with this system is a good idea, i would prefer using it in 15 min tf and not in 5 min tf as i have earlier in my trading days used this , metal u pls try this out in 15 min tf and pls post ur results so that it can be helpfull to others

@ hermes: hermes i have still not made that much amount of money as u have made, will try to beat ur record.. :)

@soundfx: hi soundfx, where u been ? we all are loking 4 u

One more Trade in the Pocket.

This time made $ 615 ( Trying hard not to be Greedy)

As i again n again say, "No News is Good News". Took this trade after all the News was over.

Today's Total Profit is $ 1242 8-)

Check it out: http://img194.imageshack.us/img194/939/eurh.gif

http://img194.imageshack.us/img194/939/eurh.gif

A profit of $ 626. first of all i took this trade very late , i was not at my pc, EU target not hit but UC going strong. Waited 4 EU to go down, but its just hanging around..Finally closed all trades for a profit of $ 626 :)

Check out: http://img213.imageshack.us/img213/9766/eurlz.gif

http://img213.imageshack.us/img213/9766/eurlz.gif