Between 40-100 pips per Day

[daudi81]

I started this system a few days ago.

Seems like a good system, but I've lost pretty much every trade.

I'm doing everything right...waiting for the IB, stochastics direction and level before entering a trade.

However, the trade always goes the opposite direction, it could just be horrible luck.

I think my problem may be the time I'm trading. I live mountain time in the US, so I start trading just as the london / new york overlap is ending, and the brunt of my trading is during the Tokyo open. So I may be missing out on all the good opportunities.

What currencies would you suggest trading for those who live in the US and cannot necessarily get in on the good GBP-USD trades. The USD/CHF seems like the biggest mover of the day, but I'm losing alot on that pair.

This isn't necessarily a question for james, just to anyone in the same predicament as me. Any ideas?

[cvamichael]

Originally Posted by daudi81

I started this system a few days ago.

Seems like a good system, but I've lost pretty much every trade.

I'm doing everything right...waiting for the IB, stochastics direction and level before entering a trade.

However, the trade always goes the opposite direction, it could just be horrible luck.

daudi81,

Can you give entries and exits? That way we can look at it and give you some ideas.

I am on the west coast and will be attempting this as a daily system. My first trade was the EUR/NOK the other day. Made 300+ PIPS. In at 81642 and out at 81337. Daily will have fewer set ups but I am hoping for greater PIPS.

[mike1349]

Originally Posted by babyfx

Hi everybody,

I have posted several tread on this forum and I have use this sytem live. I my self is newbie. As new fx trader I would like to give some advice to new fresh and eager trader to PLEASE read this wonderful system on Page 6.

Then print it out, read it as many time possible, jot down the important IB criteria, entry & exit point, stop losses and what chart to use and the right time to trade.

Before going live, please test the system on demo for say a week or a month. Just as James have repeatedly said in this forum, before you began trading LOOK at:

1. The 1 hour chart and study the trend, either going UP or DOWN. Or is the trend moving sideway

THEN:

2. Go and focus on the 15 minute chart to identify for IB, entry, stop losses and exit.

One of the most important thing not to FORGET is to read the upcoming news as it will influence the market trend. I tend to overlook this, and sometime the consequences can be 'fatal' to the equity.

My trading strategy with this system for exit is by pips count. Normally the minimum set count of pip I try to profit/gain will be not less than 20 with maximum being 50. This is my strategy and not a recommendation for everyone.

Happy trading.

Hi Babyfx,
I was wondering how this system's worked for you?
Thanks

[sameer666]

Originally Posted by daudi81

I started this system a few days ago.

Seems like a good system, but I've lost pretty much every trade.

I'm doing everything right...waiting for the IB, stochastics direction and level before entering a trade.

However, the trade always goes the opposite direction, it could just be horrible luck.

I think my problem may be the time I'm trading. I live mountain time in the US, so I start trading just as the london / new york overlap is ending, and the brunt of my trading is during the Tokyo open. So I may be missing out on all the good opportunities.

What currencies would you suggest trading for those who live in the US and cannot necessarily get in on the good GBP-USD trades. The USD/CHF seems like the biggest mover of the day, but I'm losing alot on that pair.

This isn't necessarily a question for james, just to anyone in the same predicament as me. Any ideas?

i m just the partial system i say as i m not taking IB/OB into consideration just the hooks with 80/20, and i always make money with stoch, though i m a newbie too and using a demo account. at the moment i trade in GBP/USD only.

P.S

if it is not too much trouble for some one can please point out IB/OB, i cann't seem to understand it. this is wat i get from IB . if stoch >=80 and right candle is shorter then the left, go long, else if stoch <=20 and right candle is longer go short, am i any where close ?

thanks

[daudi81]

It took me a bit to understand also.

An IB will have a shorter high (including shadow), AND a higher low (including shadow) than the bar to the left of it. If you don't understand shadow's then you should read a tutorial on how to read candlestick charts.

The highs and lows can also be equal.

Visualize sticking the bar on the right INSIDE the bar to the left. If it fits without it's high's and low's sticking out then it's an inside bar.

Just look at the pictures in the thread, most of them have IB / OB setups circled in their charts. Pretty easy to spot once you get it.

[BEOWULF]

I am a new member to baby pips, I have been trading for almost 4 years now as a full time job, I am trying to find where James wrote out his strategy for "40-100 pips per day" could someone please direct me to where it is.

[craigfx]

Look up a few post to #502 The zip has everything you need.

And special thank-you to sameer666 for reposting that great post!!!!

[craigfx]

Two questions:
--When the IB goes 1-2 pips for buy or sell are we placing Market orders?
--Is their detailed setting for Slow stoch other then 8.3.3 Metatrader has various setting like simple,exponential, smooth,Linear weighted, high/low or close/close? or does it matter? Thanks

[james]

Originally Posted by daudi81

I started this system a few days ago.

Seems like a good system, but I've lost pretty much every trade.

I'm doing everything right...waiting for the IB, stochastics direction and level before entering a trade.

However, the trade always goes the opposite direction, it could just be horrible luck.

I think my problem may be the time I'm trading. I live mountain time in the US, so I start trading just as the london / new york overlap is ending, and the brunt of my trading is during the Tokyo open. So I may be missing out on all the good opportunities.

What currencies would you suggest trading for those who live in the US and cannot necessarily get in on the good GBP-USD trades. The USD/CHF seems like the biggest mover of the day, but I'm losing alot on that pair.

This isn't necessarily a question for james, just to anyone in the same predicament as me. Any ideas?

Hi There

Post your trade charts so i can see where you placed the trade's to see if it was done write.

James

[james]

Originally Posted by craigfx

Two questions:
--When the IB goes 1-2 pips for buy or sell are we placing Market orders?
--Is their detailed setting for Slow stoch other then 8.3.3 Metatrader has various setting like simple,exponential, smooth,Linear weighted, high/low or close/close? or does it matter? Thanks

Hi there

Just use default settings.& market orders


James