Not quite 
If thatās all I had been playing all morning I would have had 60pips easily by now but Iāve been holding out for a longer term trade and keep getting stopped out at breakeven.
I could have traded 2 15min bounce trades as well for about 80 pips but noā¦
SanMiguel
On a Monday, yes. I have seen one turnaround to many. 
So I stay outā¦the first hour or so.
You know what, I am still lost on this, mainly because I have always been trading according to risk, ie I work out a 2% risk of my account and then see where my stop should go, so I figure that I can lose 2% of my account on this trade and I adjust my lot size accordingly dependent on how far my stop is.
You are talking about a trade size of 1% of the account. 1% of $1000 is $10 not $1 - what am I missing?
Iām taking a 5min bounce down at 1.6190 maybe for a 10pip scalp or so from the candle tweezer top.
EDIT: Closed for +14
Price might go further but playing the scalping game here since price is going nowhere in a trend so far today.
SanMiguel
CAS said 10K (10,000) would be 10 pips in a standard lot.
But your way of choosing a lot size is the way I understand it.
Only I will be going be my current balance not the original amount of my account. that is what got me in trouble last time. :o
John
Whatās a PA angle ?
We seam to b stuck here.
canāt get past the 1.6200 those darn 00ās.
The lows are getting higher I know that should mean something.
I have a 50% chance of guessing right and about a 90% chance
of guessing wrong.
I think Iāll take the dog for a walk:D Canāt grt in trouble that way.
John
TalonD
Price Action It is going down steeply
Iām out of here have to walk the dog
John
The stop loss is very rarely 10pipsā¦more like 30ish on the trend trades.
1% trade size of 10k = $100 trade size
Do you guys mean 0.001 instead of 0.01 ? ie 0.001 * 10000
Perhaps itās because Iām a spread better and not a spot forex person.
The way I understand it. also am doing it.
1,000 x 1% = $10 10 pip S/L 1 mini lot.
John
In your example it would be .3 mini lots
John
But weāre assuming 10 pips here. I didnāt think the stop loss mattered in the original example and we were talking purely trade size as percentage of account, in which case 1% of 1k = 0.01* 1000 = $10 per pip? or ļæ½ in my case, which is pretty high. Iām thinking it should be a trade size of 0.1% ie 0.001 * 1k = trade size of $1 per pip.
That is what cost me 75% od my account.
$10 = 10% of your account that means you can only lose 1 pip on a trade.
John
JOHN
Thatās it.
And letās say your account is down to 900 x 1% = $9 9 pip S/L 1 mini lot.
If you trade like this you need [B]a lot[/B] of loosing trades to get into trouble.
I went long at 1.6209 what do you think? good idea?
should have gotten in earlierā¦ late as usual
How often do you make a trade with a 9pip stop loss?!
As a spread better we can only work on $x per pip, so 1000 * 0.001 = $1 per pip. I guess for spread betters the trade size should be 0.1%
Yeah, around 6180 looked ideal I think if price continues to look like the 14LWMA is supporting it, then the uptrend will continue. However, the 15min bollingers - price has wicked outside of those so might get a little retrace.
R Carter and CAS
Today is Monday and my brain is semi functional.
Is what you are saying .5% would allow you a 20 pip S/L instead of 10
and .25% allow a 40 pip S/L to stay at 1% risk?
John
TalonD
The MAās on 15min all line up and pointing. On the 1h theyāre starting to do that.
The 20 BB is pointing up on 15min.
Retracemnets might go lower than 1.6209. Donāt know.
WoW It took me an hour to get back in after trying to refresh the page
checked other sites no problems.
I guess thatās why no one is posting I guess Iāll call it a day. may try again to night
have a good one John