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Pip Accumulator


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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

 

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! :)

Edited by fx4_ever
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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

Edited by psaini1973
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In appreciation of psaini & soundfx's efforts in this thread, I have updated soundfx's Psaini_Trading document (v2). It helps answer fellow traders' questions about psaini's trading with this method.

 

http://www.multiupload.com/U9TOY7OLU8

 

The original document can be found here:

http://indo-investasi.com/showthread.php/14520-Pip-Accumulator?p=179723&viewfull=1#post179723

 

Thanks psaini & soundfx.

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I am also surprised with the result on EU! When the price approaches Pivot Point the best stay out because it winds around the PP in range trend most of the time. The S1 on EJ is easier to understand because of the strong indication for sale.

Sometimes we get lucky with the experiments and sometimes caught off. For that we have a SL.

Hermes

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@ 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.

Edited by psaini1973
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Thanks psaini

 

As an exception to your trade posting style, Is it possible to post what the screen looked like when you entered the trade (along with prob display) and another screen shot of when you exited the trade.

This is just for education purpose of traders like me who would like to learn more.

 

Keep up the good work.

 

Regards

Vinpiper

Edited by vinpiper
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hi canforex. very good trade indeed. can u change the background color of ur mt4, its hard to c the entry and exit arrows. thanks

 

Thanks, I will change color. Also, could you please tell how to bring the entry & exit arrows in front of the bars - like in your charts. When I use drag-n-drop, the arrows hide behind the candlesticks.

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Wow, this thread is monumental! Thank you Soundfx, Psaini, Vikram and everyone else for making this system so much better. I tried it in August but did some "System Jumping", but you guys have inspired me with your success to try again. 3 Winners in the London Session, if it wasn't demo I probably would have exited because the probability crossed zero in the other direction, but my gut (and since it was demo) I stayed in. Do you guys exit immediately when probability goes the other way, or just go with your gut?

 

http://imageshack.us/f/137/pipsac.gif/

Edited by Infomattik
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Infomattik heres ur first thank, i notice nobody thanked u b4. Now back to the trade, very very good trade, i love to c that u r using the power of correlation in ur trading.

 

your r a brave man so u r sharing ur trade results, but pls also share loss trade also, theres nothing to be ashamed off when u loss money, my best wishes.

 

Exit has always been a headache at least for me. there are many ways to exit, the pivot or the next support or the resistance or the one i use frequently is the amount of money i made in a trade. lets say i took three trade and the profit is above $ 1000 then i will be seriously thinking to close it.

Edited by psaini1973
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Thanks Psaini, I only have a couple posts, mostly been just watching from the sidelines in the forum, but thanks for the thanks! And that was basically my first real trades with Pip Accumulator. I "borrowed" your correlation technique, definitely a smart trio of pairs to trade! I also noticed that you usually take profit at the next support/resistance point, as you could see those were my TP's. I've learned a lot from you, keep up the great work man.
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