[B]TALOND[/B]
Ah Mike glad to see you’ve come in. MA’s are about to cross the center boll on the 1h. So from the lower cross on Moday… what do ya think you would have made roundabout figure using your system? Well I’ll tell you [B]200 pips[/B]!
Lets start paying more attention to this man. 
200pips - nice. That would have been 10 days worth of your average 20 a day on your way to becoming a millionaire
Speaking of which, do you reckon you average more than 100pips a week?
If all we were looking for was 20 pips a day then we could close most trades or most days out at around 50 couldn’t we allowing for the necessary losses to average out around 20pips.
[B]SanMiguel[/B]
Honestly? I average out at around 80 positive pips a day. Some bad days its 20 pips. Some really good days, yesterday for example it was 180 pips (1 trade at 50 pips, 1 trade at 130 pips) That was one 24 hour day though. Today it was one trade of 38 pips (TP1 50 pips on the first down trade. TP2 closed out - 12 pips before news release). Trade two after the drop at 1.6395 now up around 48 pips. So todays total around 85’ish so far.
Yep 20 pips a day is all you need at 1% of bal trades. No lets not go there… 1% of bal actual trade size. 
Interesting.
I’m at +32 today and +30 on an open trade.
If in a year or 2 I get to that million mark, I’ll be sure to buy you a tie’s worth of beer
BTW, your TP1 and TP2, do you just close out half or do you have 2 trades running? So far, I found it easier just to close out an entire trade or leave it running as the extra pips on half a trade are actually halved anyway.
50% at 50 pips and 50% at 100 pips averages out to 75 pips total
Perhaps it’s the safer way to do it but I find other times it knocks profit off you, eg
50% at 50pips and then other half closed out at breakeven: 25 pips av
close all at 50, 50 pips.
Sort of see what I mean?
[B]SanMiguel[/B]
One of my sons trades FX and he’s utterly maticulous about this. He gets his 20’ish pips, usually London open until New York open and is [B]OUT[/B] for the day. He’s been doing this for three years.
[B]SanMiguel[/B]
If its a short 5m trade i.e. a 5m boll bounce then I’ll go in at the whole 1% but keep the stop tight. No more than 20 pips. If its a longer trade with a bigger stop, say 40 pips. I’ll enter one trade at 0.5% then when up by at least 20 pips enter a socond trade of 0.5%. That way I feel I can control the trade more effectively especially using a manually adjusted stop/s and TP1 & TP2.
I only have 1 problem with you method I rarely get more then 20 pips on a trade, but I learning and trying.
Posting got a little slow and so did the PA so I browsed some other threads I seen you post to that only had 2 pages so I took a peek.
Not Likely Ha? good one.
John
[B]JCGIBSON[/B]
Theres two ways to look at this. If you can and do get 20 pips you could argue with conviction ‘why try and get more’. 20 positive pips even averaged out over weeks is enough to compound up your account big time. As stated earlier, my son sticks to this componding method like glue!
You can shoot for bigger pips but this involves staying in the market longer and thus increases your risk! If I’m up 50 pips I’m foolish enough to think. Ok I’ve got +50 pips to risk until BE and luckily it pays off most times. But this is in no small measure proportionate to my experience. Far better to take the 20 or 50 pips and bug out!
I know this doesn’t double your risk because the entire amount is 1% but you run the risk of the 1st trade coming back to break even and then the 2nd trade being -20 don’t you?
[B]SanMiguel[/B]
In theory yes.
But I treat both trades individually. So trade 1 will close out at 50 pips if it hits TP. But I will actively manage the SL movement. Trade two is only initiated when trade 1 is in profit and again is actively managed. They are in effect two entirely seperate trades. Each with their own SL & TP.
The only corrolation is by having two 0.5% trades I limit my risk to 1% over an already in profit trade one. By opening trade two when trade one is in profit helps maintain a combined SL of less than opening a 1% trade at the start.
Hope that makes sense. 
R Carter
Right now i am trying for 20 pips profit per day or 100 pips per week.
When that is consistently achieved I plan to do something like you. But I don’t want to get ahead of myself.
I got 20 yesterday and I have 15pips for today hopefully I can get 5pips more profit tonight I only paper traded Sunday and Monday.
That is the last time I paper trade, It is to easy to let a paper trade go to see if you can get more out of it, no pressure.
Don’t worry I am trading .01 Mini lots the rest of this month maybe longer I’l see at the end of the month.
But I don’t like losing even a penny, You know what they say about a penny a day.
John
reds did ok on 1h, yep, but you remember what you said would be needed to trade them? steel ones… lol
trying to make a few pips tonight, may try to get up early for London open and try my luck there.
feelinbadforexblues - Mp3 Download, Lyrics & Chords at Muziboo
don’t be too critical…
20 pips per day? 80 pips or 100 a trade? You guys make me want to slit my wrists. I can’t do anything except lose money, it seems.
don’t feel bad Merchant, I’ve been like that since the beginning despite getting a lot of good advice from the pros. Just lately I’ve started making fewer dumb beginner mistakes and started making some pips. Plus got a new 1h strategy to test out.
The fatigue and despair is setting in a bit. Despite asking how things work in strats like this one, I don’t seem to be able to get a clear understanding.
All my high school, SAT and military aptitude tests claimed I was a genius (har!) and I’ve always considered myself a literate, well-read person. Why can’t I grasp the intricacies of this method or the Candlestick one over on Tymen’s thread? It’s like these guys are speaking Greek (literally).
Then again, it took me weeks to grasp the relationship of lot sizes, leverage and pip values - so clearly I’m not the sharpest knife in the drawer. :o
EDIT: And, of course, I’d like to hear about your 1H strategy. In fact, I’m wondering if my suckiness at daytrading is so bad that I shouldn’t look for some good intraday strategies.
SanMiguel,
I’m glad to see you changed your post as we don’t want to give newbies the wrong idea do we now.
I want to thank you for your patience I do try to tone my posts down a bit but it is hard to make traders see their mistakes. Most just swear at me a lot and tell me to leave them alone in so many words. LOL. I’m not trying to be arrogant but sometimes people view my post as such so I must work on that.
Understand it not easy to get people’s attention and this is especially true of the Brits. I know this first hand because I married one. LOL. A lot of what I know I owe to a Brit and believe me he hit me with a sledge hammer many a time. The method I was trading at the time was almost identical to this one which is why this thread caught my attention. The only difference was I didn’t understand the importance of the trend of each time frame. I traded like a gun slinger of the old west with a hair trigger and I did a lot of losing countertrend trades. Believe me I learned the hard way.
If newbies are viewing your thread then I believe in pointing out the mistakes because most newbies will follow your lead. Whether you or your followers agree in what I’m saying is not what’s important to me. I do hope you and everybody else will post with valid questions but I want the newbies to see a different point of view. It is obvious that there are no professional traders here but it does seem to be of a much higher standard then most.
I believe you and some of your followers do fairly well but some of the posts are confusing to a newbie and very little of the why I made the trade and analyzing the trade after the fact has taken place. I realize that trading is the main thing here and teaching takes a lot of time so I’m not condemning you or anybody else.
I will ask the followers like Mr. Carter to quit miss-quoting me as it just shows arrogance and inability to read or understand. I’m not posting to be confrontational and will just ignore those types of posts. It is just fine that I see posts like �I made 130 pips today but to me it sounds like boasting and really is only self serving. If you post, here is my thought process through the whole trade from beginning to end and it turned out 130 pips then the ones who are unclear about how to use this method might see the light.
I know you can’t do this every time but once would be enough. I know most newbies jump onto this thread and some haven’t figured out what a pip is yet but remember all of you traders were newbies at some point in time and may be still.
I personally haven�t learned a thing from those who have always agreed with me and welcome discussion. I have found the confrontational people who view other ideas as attacks aren�t the main contributors anyway. I have managed to turn a few around in my past but it is usually an effort in futility, so my posting replies to the comments by these individuals will be very few.
Trade well and prosper,
Johnny
[B]Merchantprince[/B]
…
What’s going on with GU…?
[B]JohnnyBSmart[/B]
I don’t remember misquoting you? I have twice posted hoping you would reply to my question asking… so you drill down from day to 4h and then 1h (as you stated I think) and trade the 1m with guidance from the 1h. Or do you also trade the 1h, QESTION MARK.
That was a genuine question no?
As to boasting… I could well be guilty of that. But SanMiguel asked me do I make over the 100 pips a week. I replied with some examples of actual trades and my average daily pip count.
As to obviously no pro traders here… I think you might be suprised!
I fully take on board that perhaps we have not explaind why we made a trade, good and bad. And will make every effort to address this.
But we are trading a turn on the ma and at the outer edge of the bollinger usually coinciding with significant S/R. So why we have entered the trade should be fairly obvious if time is taken to read the whole thread.
Yes your confrontational style of posting needs work!
Post some charts of your trades and get some advice.