Hi all, trades form 18 May have all closed now.
2 winners and two losing ones.
The gbp/usd was a great trade, more of those!!
Hey Obaasima,
I’ve been following your recommendations for a few weeks now and must say
I’m quite impressed with the overall results.
It’s just too bad that your system needs such tremendeously wide stops which every now and then take away a big bite of your profits.
My personal system (based mainly on trendlines, fibs and MACD) brings me to quite the same signals but a lot less frequent since I trade highly leveraged (50:1 or sometimes even 100:1) to build the foundation of my account and can’t engage on trades with stops “that” wide.
Are your stops part of your strategy inspired by indicator(s), e.g. p-sar indicated stops or Fib levels or other types of resistances , or do you have a special rule for them e.g. calculating them as a percentage of your equity you’re willing to lose per trade - depending on the trade-related risk you estimate at trade setup?
Thanx for your feedback, just trying to improve the risk/reward ratio at higher leverages.
Keep the pips coming!
Yanus.
Hi Cpt Yanus,
I enjoyed reading you post, thanks.
With stops, I find that whether you keep them tight or wide depends on your profit target as well.
First off, more often than not, my stops are based on major swing points, and though I get taken out sometimes, hopefully, not frequently.
To be able to collect large number of pips in a single trade, the stop has got to suit the trade, otherwise, retracements and spikes can easily take you out, when indeed, the trade is going your way, or should be going your way.
To survive the wide stops I give, you need to give much thought to lot size and size of account, whether you should place a standard lot or mini lot.
Think of it this way: If you have a small account and because of that you have tight stops, likelihood that you get hit more frequently increases.
Maybe you know already, but some brokers allow the same account to be used to place standard lots as well as mini lots, so you could tailor your lot size, depending on when you get in the trade and what your stop width is.
Personally, I use 1-5% of my bank per trade and it works well.
At the end of the day, it’s your overall pip profit (or pip loss for that matter) over a period of time that matters, and not trade by trade, get what I mean?
Talking about risk:reward ratios, what ratio do you think is good?
In my opinion, a ratio of 1: 1.5 or 1:2 is good.
Keep pipping.
Hi Obaasima,
Good reading your post, confirms once again I’m not the only one who’s dead-serious about this.
First to answer your last question: a 1:2 R/R per trade or better is what I aim for since there’s the undeniable every-one-in-so-many-trades that goes against you, taking more out of your profits. I guess that’s another reason why I get less signals than you do, or possibly just act upon less signals as I keep this higher ratio in mind in my decision-making process.
As to equity risk per trade I try to remain in the a 2-3% area, calculated on the equity balance when hitting the button.
Broker-wise, for many reasons I have gotten stuck on OANDA for my actual trades. My analysis is done in MT4 as this gives me so much better charting tools and I got hands on a custom news-indicator (very very handy to avoid those wide-spread entries at news times I just happened to have missed) - sorry Oanda, people have been calling out for improvements on the charting but I have not been impressed so far.
One of the many reasons for oanda trading is their total automation in trades. I hit buy/sell and the systems enters my pre-prog’d SL and TP points at the equity percentages and pip values I want them to be, besides giving me the option to determine my own lot size - so I guess I’ve saved myself from the lot and mini matter, yet putting myself in the other trouble of experimenting in finding the best custom-lot-size giving mt the most reward with the highest pip-number before getting kicked out.
Keep’em coming.
Yanus.
22 May am:
eur/usd buy @ 1.3923, s/l 1.3724, t/p 1.4030 - RESULT +107 pips (trade closed 22 May 09)
gbp/usd buy @ 1.5854, s/l 1.5510, t/p 1.6090 - RESULTS +236 pips
Initial t/p was 1.6120, but t/p was amended to 1.6090.
(trade closed 29 May 09)
Good day y’all.
Obaasima, do you trade on a demo account or are you already confident enough to trade real money?
Hi Lakontis,
I trade both live (real money) and demo (a demonstration account). Those number of pips cannot go to waste, can they?
Keep well.
Hi all,
The gbp/usd buy trade above is ongoing, t/p could get hit today (hooray)
Move t/p to 1.6090.
Happy trading 
Yea, the gbp/usd and eur/usd trades that were set up on 22 May have closed with a total of +343 pips profit.
See below for attachment.
29 MAY PM:
GBP/USD SELL TRADE @ 1.6150, S/L 1.6185, T/P @ 1.5840
RESULT -35 pips
Happy trading.
Hi, a sell trade is up for grabs on gbp/usd;
gbp/usd sell, s/l 1.6435, t/p 1.5850. (gbp/usd sold @ 1.6113)
RESULT +263 pips
All the best.
I was able to get short on gbp/usd at 1.6363 and right now already at 236 pip profit. It seems like it is reversing but on the other hand if you take a fib of May 21 low to the recent high, you can see that right now the price is just above the 50% retracement level so I am afraid that this is not a reversal but just a pullback and that it might continue going back up very soon. My decision was to put stop loss just above the 38.2% retracement so that I would still have about 120 pips in case the pair turns bullish again
You are now over 300 pips in profit then, well done mate!
Good day to you and all.
gbp/usd sell trade is ONGOING
Hi, just to let you know the gbp/usd sell trade closed with a +263 pip profit.
More of such!
A trade I wasn’t able to post here today did brilliantly!
gbp/usd buy @ 1.6054, s/l 1.5780, t/p 1.6350 RESULT +295 pips.
Email or pm me for more info on receiving signals.
Keep pipping.
Obaasima, I would be very interested to in trying to recieve your signals more promptly I don’t have your email or PM so I figured I would contact you through your thread.
Great results by the way keep up the great work!!!
Hi Maschneid, if you click on the forum name on the top of the individual’s post, you get an option to email or pm.
All the best.
Good morning all; two trades for the day.
gbp/usd buy, s/l 1.6073, t/p 1.6645
[B]Update [/B]- gbp/usd s/l moved from 1.6073 to 1.6236
[B]2nd update - s/l was further moved to 1.6335 - RESULT +28 pips[/B]
eur/usd buy, 1.3849, t/p 1.4290
[B]Update[/B] - eur/usd s/l moved from1.3849 to 1.3912
[B]2nd update - s/l was further moved to 1.3940 - RESULT -128 pips[/B]
Happy trading.
I read thru most of ur threads and found out that u r risking more than wat u wan to gain. Ur target points are also somehow wierd. But im glad that u are still doing good