Consistent FX Trading

[elang]

Hello guys,

As most of you've noticed I don't have the time to post as often as i did before or at least not include as much information as before.

I've started this thread in order to modestly re-establish myself here and try and maintain the respectful presence i had once before... sniff

Ever day... I will post 1 to 2 trades here in a format easy enough for everyone to understand, either for GBP/USD or GBP/JPY, or both when possible.

It will look something like this:
(This was todays' trade)

~GBP/USD~
16.03.2007

Entry - 1.9371

Target 1 / 10 PIPs - 1.9381 (HIT)
Target 2 / 20 PIPs - 1.9391 (HIT)
Target 3 / 30 PIPs - 1.9401 (HIT)

Stop Loss / 35 - 1.9336
Lash - 1.9356 (15 Pips)

Actual Probable Profit After Lash: 102 Pips as of /GMT: 10:15 AM/

This will take me about 5 to 10 minutes to post each day so it is something i will have the availability to do for the time being.

The previous 7 Days have been profitable with both Targets 1 (10P) and 2 (20P) having been met.

I will post their results when i have a little more time.

I know some of you might have noticed already that the Expense to Income ratio is rather unforgiving, but this trading system produces positive results consistently enough so you don't feel the sting of incuring an expense more than necessary - we will tweak our SL value (lower) as we trade.

As the name of this thread hints, we will be emphasizing on gaining small profits of 10 to 20 pips and even up to 50 if we are lucky enough, but on a daily basis and doing so mechanically...

As for TA, i will try and include something when i can briefly.

In life sometimes breaking the barriers we've already built for ourselves is a natural occurrence on the road to self advancement. It is evidence of our progress, for it is he who finds discontent in his current achievements that truely heeds the call to the unravelling of his true potential!

We all have the potential to be what we choose! Believe in yourself!

Don't be afraid to break your barriers and move forward.

Fear and Greed will ruin you, not just in Forex, but in almost every aspect of life.
Be modest in your actions and the riches you seek will lay themselves at your feet for claimance, time after time, increasing in value with their every occurence.

Best Regards to everyone and feel free to add me to Yahoo: effilang
E. Lang

[elang]

SUMMARY

TRADE #001

~GBP/USD~
16.03.2007

Entry - 1.9371

Target 1 / 10 PIPs - 1.9381 (HIT)
Target 2 / 20 PIPs - 1.9391 (HIT)
Target 3 / 30 PIPs - 1.9401 (HIT)
Target 4 / 40 PIPs - 1.9411 (HIT)
Target 5 / 50 PIPs - 1.9421 (HIT)

Stop Loss / 35 PIPs - 1.9336
Lash - 1.9356 (15 Pips)

Actual Probable Profit After Lash: 102 Pips as of /GMT: 10:15 AM/
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 50 PIPS

[topgun]

Nice post. Glad to see your back Elang. I just started trading the GBP/JPY pair and I love it's volatility. I don't mean to sound stupid but what it Lash?

Topgun

[elang]

For eg:

If you enter Long at 1.9000 and the price developed in the following way:

1. Moved to 1.8999
2. Moved to 1.9050 and hit your Target

THEN... the Lash (Whip / Lash) is considered to be 1 Price Interest Point or "PIP"

In other words, the price action opposite to our entry direction is the Lash value.

Regards,
E. Lang

[topgun]

Ah, ok. I just haven't heard it called that before. I always hear drawdown. Thanks for explanation. I look forward to following your new thread.

Topgun

Originally Posted by elang

For eg:

If you enter Long at 1.9000 and the price developed in the following way:

1. Moved to 1.8999
2. Moved to 1.9050 and hit your Target

THEN... the Lash (Whip / Lash) is considered to be 1 Price Interest Point or "PIP"

In other words, the price action opposite to our entry direction is the Lash value.

Regards,
E. Lang

[elang]

Hello guys,

As promised earlier here are results from a week back.

You'll find a picture attached to this post, its a small extract from my trading diary.

Don't forget to check back on Sunday for Trade #002 guys.

Have a nice weekend.

Regards,
E. Lang

[halo3plz]

elang, is there a system to these trades?
are you just going to post trade history?

and welcome back to to babypips

[elang]

Thanx Halo,

For those of you who haven't decoded the system yet, i will be revealing it in the near future as soon as i stack up more result data.

I will post every trade when i enter it, so you will be able to witness the development through and fro. From covering spread to taking my profit... or swallowing my loss.

Thanx for the WB ^_^

Regards,
E. Lang

[fourex]

Hi Elang.

Dont want to sound negative, but on your past results for 8th entry 224.31, when the price hit that level it never came back to 20 below that till the 13th. Please explain.

cheers.

[elang]

Originally Posted by fourex

Hi Elang.

Dont want to sound negative, but on your past results for 8th entry 224.31, when the price hit that level it never came back to 20 below that till the 13th. Please explain.

cheers.

That sounds a little strange buddy.

It dropped about 150 Pips on my MT4 and Forex.com chart after, which it went bullish for 255 pips on the same day.

There was ZERO (0) lash on that day as well, so from entry the price fell directly by 150 pips.

I'm not sure what time zone your charting server or broker is on, that may be the problem.

Regards,
E. Lang