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| Show me the money! [Daytrading] Need some trade ideas for today? Want to share your own intraday trade ideas? If you're the next Jerry Maguire and can show us the money then this thread is for you. Also, check out the School of Pipsology if you want to learn which timeframe you should trade in. |
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03-04-2009, 01:16 AM
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No password necessary
You shouldn't need to enter the password.
On mine, it asks for one, but I just click "Read Only" and it opens for viewing. If you got it from a third-party site, then maybe they protected it with some lame password and then I can't help you.  Good luck! By the way, if you do a simple google search, you can find this e-book. Cheers! -ForexPhantom- 
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03-04-2009, 01:38 AM
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Hi, thanks for advice. Problem solved.
Quote:
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03-04-2009, 12:08 PM
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Maybe it's the markets or maybe just me, but I've had a lousy couple of days with this system. I thought I had the gist of it, but I seem to be missing something. I believe in your system though, so I'm going to keep at it.
What I've been finding lately is that by the time the EMAs cross and a new candle opens, the movement is already finished and starts heading back down. Once I'm down 20 pips or so, I just get out rather than waiting for it to hit my stop.
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03-04-2009, 12:25 PM
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Thanks Maurizo and the rest of the guys in this thread. I've taken time for the past 3 days to go through this thread.
I'm a newbie using fxpro metatrader demo but I find that it has some limitations as far as this system is concerned and am about making a switch to try out oanda and see how it goes. Can anyone advise the advantage oanda platform has over mt4? Secondly, am in GMT+1 timezone. what is the best trading time for me as regards this system? I appreciate your help and shares. Thanks
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03-04-2009, 08:15 PM
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Hey Maurizio,
First of all, sorry about all the questions. According to the eBook I'm to close one lot once I hit the first profit target (middle Bollinger), but I'm not sure how to do that with Oanda. The only option I see is to close the entire position. I'm using 10K lots.. my current position is 20K and I want to sell off 10K... if that helps. Thanks for your time. 
Last edited by Pipdreams; 03-04-2009 at 08:37 PM.
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03-04-2009, 10:15 PM
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If anyone knows the answer to this, please advise because I'm very curious! Thx. -ForexPhantom-
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03-05-2009, 12:44 AM
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To do this we need to do a simple equation; Capital / 50 = 2%
$5,000 / 50 = $100 This $100 must now be divided up into your stop-loss. So if your stop-loss is 50 then $100 / 50 = 2 So you would enter your trade with $2 per pip. (Presuming you are entering with one full lot) (Were you going to enter into three lots it would be 66c per lot) Using this method, you will never lose more than 2% of your Capital in any one trade….remember the 1st rule…… DEFEND YOUR CAPITAL! Hi Maurizio77 I was wondering if you, or anyone else who would like to jump in, could clarify my understanding of the money management set-up above. If you were to enter the trade at a full lot [100,000], the per pip value would be closer to $15.65. So I am assuming that the lot is an adjusted one to reflect $2.00 per pip. This would make the new lot around the $14,000 mark. Now, I arrived at that figure by manually fiddling with the lot size in Oanda's transaction ticket until I arrived at the right number. Not very practical if one's in a hurry to place a trade. So if you, or some other kind soul could help out a mathematically dyslexic figure out the formula to do this, I would be grateful. I want to set up a spreadsheet that'll do the trick by entering the s/l and entry $ figures. Cheers woofx
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