I use alpari but you can use any really they all have similar spreads and on the major pairs and they all increase the spreads during news.
I use ecn alpari account on mt4
trades at 1 or 2 pips cover the spread it’s non comission account so when the trade is open you in loss right away you have to cover the spread and then take the pips.
Tip :
If you open the other charts like gbpjpy GBPCAD gbpaud and gbpchf you will see if they are all trending in the same direction. It will give you more confidence in the trade. You will also see various bounce back zones as each currency will have its own.
Looked like a nice sell after London open but the UK News was due so I waited I got 10 pips on the bounce
The trend is your friend indicator was mostly pink and if you see the other Pairs like GBPAUD, GBPJPY, GBPCAD at this time they where also mostly pink so I did the sell trade on GBPUSD draw down was 5.5 pips including spread
Nice trade shame it ended the trend there, the trend now its sideways going into USA Session
Did a trade today after London open setup was perfect for GBPUSD for a sell I had a TP set to 15 pips it hit and continued down almost 80 pips but my Trade was over I think 15 pips is a great scalp.
Again using TheBear Multi trend and Trend is your Friend it showed the other GBP Pair all had the same setup
All Pink squares and Moving Averages in correct order and colour.
Perfect trade I made 15 pips as a scalper that is great, it moved 87 pips but did not give a bounce to renter
Juts two trades today on the GBPUSD very sideways during the London session I missed one trade but I made my pips for the day on target.
Good week using the system today I traded the news and made some pips
So Christmas eve I had a loss trade and my profit trades closed today at open.
Will not trade now until Monday.
Yesterday I did a trade but closed at 0 pips the drawdown was 5 pips it was a slow day it did eventually go up 13 pips .
The setup was correct and TheBear Trend indicator and the squares where all correct I closed due to being in the trade for 30 mins, and it did not break in that time. The system was correct it moved 13 pips soon after my close.
Absolutely brilliant! 137% profit per month!!
Single trade today very sideways I got 5.44 % on that trade Draw down was 5 pips
Does anyone have the link to Snipe’s FXbook account? It
would be good to see how he is getting on. I’m not sure
why he withdrew his last post.
Its TheBear MultiTrend
but its not showing on FxBook, perhaps Snipe has hit a bad patch.
certainly 149% pm is a high standard to live up to, when 1% pm
eludes most
Hi I took a break started again on a new account this week
This is the public account on My FX Book
https://www.myfxbook.com/members/TheBear/thebear-multitrend/4326733
UOk so week was ok until today, the system gave two false buy signals around London open and then I did not take my profit on the following trades properly. There was a 7 pip and 5 pip but I had a loss of 16 pips total, I wanted to see if they gave me more which they did not.
In the end I recovered some of the days losses but not all. The week is still up by 8% but could have been 20% if I took the profits the trades gave me.
Very choppy day today and these kind of days happen so you just need to close and wait for another entry. The secret is to close and wait which I did but still the days range was lower today and very choppy
8% for the week is not bad hopefully next week will be better now that brexit is almost legally completed
OK so today was a clear example of what happens when you don’t follow the system huge losses and bad trades.
It’s a issue of fear of missing out. FOMO as it is called. I was up 7% and then started taking chances hoping the price would break and I could catch that run. Then I just got silly to be honest.
FOMO has to be controlled I will tame that in the coming days.
So Recap.
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the system with bear multi trend works has always worked. That’s good news.
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Mange FOMO
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Don’t jump in, don’t just reverse a trade without a signal. Closing at a loss is fine but wait for next signal.
Somehow even with the loss of today I feel I’m getting better I just need to control number 2 number 3 does not occur much and when it does the next signal does recovery.
Thebear multi trend is working I’m the issue.
Will need to keep a handle on this.
Interesting man; so what updates or upgrades have you done with this methodology also do you have a video or a detailed description of your trading methodology - where you enter and why; your stop loss and why etc., You stated that your goal is 10 pips but do you trail after the trade is placed etc, where you look for trades and why for instance; the pairs you trade; the sessions etc, everything - do you have it written down etc - just asking please, thanks.
System is the same using the two indicators. No changes to the system I take profit when the price starts to retrace its based on price action.
Good day bud; did you record any statistical data on this 10 pip 10 percent per day methodology, win rate and all etc. and also chart an equity curve to see what effect it had on your account for instance; it’s good for studying and analysing purposes; sorry for ll the questions man; am a scalper too and you post caught my attention also being a scalper; well I do everything scalp, day and swing etc. lol Anyway just asking; ohh is your stop like 1:1 too or 10 pips too…?
