Consistent FX Trading

[elang]

TRADE #003

~GBP/JPY~
19.03.2007

Entry - 228.34
Lots Traded - 2.0

Target 1 / 10 PIPs - 228.44 (HIT)
Target 2 / 20 PIPs - 228.54 (HIT)
Target 3 / 30 PIPs - 228.64 (HIT)
Target 4 / 40 PIPs - 228.76 (HIT)
Target 5 / 50 PIPs - 228.84 (HIT)

Stop Loss / 35 PIPs - 227.99 (Day)
Stop Loss / S - 225.53 (Swing)
Lash - 228.34 (0 Pips)

Actual Probable Profit After Lash: ~X Pips as of /GMT: X:X AM/
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 100 PIPS

[elang]

TRADE #003
Update

Target 1 / 10 PIPs - 228.44 (HIT)
Target 2 / 20 PIPs - 228.54 (HIT)
Target 3 / 30 PIPs - 228.64 (HIT)
Target 4 / 40 PIPs - 228.76 (HIT)
Target 5 / 50 PIPs - 228.84 (HIT)

Time Since Entry: 18 Min.

[elang]

SUMMARY

TRADE #003

~GBP/JPY~
19.03.2007

Entry - 228.34
Lots Traded - 2.0

Target 1 / 10 PIPs - 228.44 (HIT)
Target 2 / 20 PIPs - 228.54 (HIT)
Target 3 / 30 PIPs - 228.64 (HIT)
Target 4 / 40 PIPs - 228.74 (HIT)
Target 5 / 50 PIPs - 228.84 (HIT)

Stop Loss / 35 PIPs - 227.99 (Day)
Stop Loss / S - 225.53 (Swing)
Lash - 228.34 (0 Pips)

Actual Probable Profit After Lash: ~X Pips as of /GMT: X:X AM/
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 286 PIPS (14H:19Min.)
Time Since Entry: 50 Min. (To Hit T5)

[nia_kantana]

Thanx for the advice.., & i'm thinking that you are better philosopher as well as you're trader.., It seems like your trading strategy & your system really work well.., Is it this System specified for the cable pair or it can use for other currency pair? By the way what's the mean of

"Actual Probable Profit After Lash" ?

Maybe it's sounds stupid.., but plz don't laugh at me...

[elang]

TRADE #003
Update

13:19 PM (GMT)

After we hit Target 5 yesterday and moved up higher i trailed the trade with a 100 pips.

I closed this trade 3 minutes ago at: 13:19 PM for 136 pip profit instead of 50.

For the Ellioticians the 230.77 High is wave B in Corrective wave 4 our a 5-ABC cycle. Wave five should have started now, so we should see a retest of 221.10 in the next 2 days.

Lesson: Lock a profit, and the trade run.

Regards,
E. Lang

[elang]

Originally Posted by nia_kantana

Thanx for the advice.., & i'm thinking that you are better philosopher as well as you're trader.., It seems like your trading strategy & your system really work well.., Is it this System specified for the cable pair or it can use for other currency pair? By the way what's the mean of

"Actual Probable Profit After Lash" ?

Maybe it's sounds stupid.., but plz don't laugh at me...

I think philosophy and trading sort of go hand in hand

This system is preferably used with GBP JPY - High Volatility Pairs.

What i mean by Actual Probable Profit After Lash is... for example..

1. I enter long at 9000
2. Price moves to 8999 (1 Pip Lash)
3. Price moves to 9050 (I close my position)
4. Price moves to 9100 (The Actual Probable Profit After the 1 Pip Lash and after i closed my trade is... +50 pips as the price went up to 9100

I guess i gotta think of a simpler term for that.

Regards,
E. Lang

[fourex]

Originally Posted by elang

TRADE #003

~GBP/JPY~
18.03.2007

Entry - 228.34
Lots Traded - 2.0

Target 1 / 10 PIPs - 238.34 (LIVE)
Target 2 / 20 PIPs - 248.30 (LIVE)
Target 3 / 30 PIPs - 258.34 (LIVE)
Target 4 / 40 PIPs - 268.34 (LIVE)
Target 5 / 50 PIPs - 278.34 (LIVE)

Stop Loss / 35 PIPs - 227.99 (Day)
Stop Loss / S - 225.53 (Swing)
Lash - 228.34 (0 Pips)

Actual Probable Profit After Lash: ~X Pips as of /GMT: X:X AM/
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 100 PIPS

Hi Elang.

What was the actual trade ,because these numbers certainly aren't right (are they?).

Is it Entry @228.34 then 228.44 228.54 228.64 228.74 228.84 ?

I just want to understand.

Thanks

[elang]

Opss.. hehe.

You got that right.

Entry is 228.34... add 10 pips etc.

Will correct it later.

Thanks for pointing it out.

Regards,
E. Lang

[fourex]

Hi Elang.

Thank you for that clarification.

I use a spread betting firm , and Gbp /Jpy has a 8 pip spread, how would you set profit levels and s/l for this, would it be 18 pips first.

Thank you .

[elang]

Nah man.

Still 35 Pips SL.

Calculate it with your spread if you want.

I'm too lazy right now at 1 am lol

Same thing tho