Thanks for sharing your ideas everybody.
Its great that you do this as we all have a different perspective on the market.
Take care.
PFP
EUR/USD and GBP/USD are preparing for a nice retrace by the looks of it. I do not expect we will be getting involved in any trend trades today in the London session.
:eek:
Hi Guys,
I have just come across this thread and am already liking it!
Keep up the good work.
I am waiting patiently for both pairs to give us trend entries.
Thanks!! Really appreciate it!
Hello FxPro,
Is it a good time to enter a short Gbpusd at 1.5680 … I missed to enter at 1.5750…
I have taken a small position short on eur/usd at 18gmt at price .3101 with sl 1.3133 and target decent hourly close below .3019
No, it is not 
Hi Mike
Video isn’t working
Says ‘30% winning trades’ surely that can’t be right ?
Ah Mike just checked your site and video is working there but not YouTube so anyone looking for it it’s on Mikes site
30% is very accurate! He hopes for a big move with a very small stop loss (which usually hits pretty fast). If you look at his account performance he started off with a quick massive profit which seems to be nothing but luck. He has been at a loss for the past month and a half. A normal profitable account should have a positive linear or exponential slope. If you look at his comments below on his account all people give him 1/5 stars saying he should improve his (nonexistent) system. So for everybody who is on this thread and especially for everybody who is new to forex DO NOT take his trades on a live account NO MATTER WHAT!!! YOU WILL LOSE YOUR MONEY!!! He does not wish to share his “holy grail” because it is the sh!t. Well, obviously not. The most entertaining part about this thread is the title: “…no losses, free for now”. Good luck making it paid rofl! After following him for some time I realized how illegitimate he is in what he is doing. Perhaps if he shares the reasoning behind his trades I’ll give him some credit. If he shared his system it would let more experience traders to look at it and improve it, since it has many many flaws!
So one more time guys - DO NOT TAKE HIS TRADES ON A LIVE ACCOUNT!
And as always, have a nice day!
I think his style is a bit similar similar to turtle traders.
Turtles are not looking to be right all the time, in fact their win/loss rate is around 20-30%, but still they manage to get substantially large profit.
How could it be? it’s because their risk to reward ratio is huge, more than 1:15, almost similar to Mike.
Their losses are recouped by a few number of huge wins.
When one is following a system which targets huge risk/reward ratio and apply tight stop/loss, he’d better be prepared for low win/loss ratio. Losing streaks are inevitable, even legendary trader Larry Williams had as string of 17 losses before making a string of 31 wins.
Just care about being profitable, not being right all the time.
In fact his record still shows 700+ pips, which mean he’s still profitable.
I don’t have any affiliation with Mike or what soever.
I just want to emphasize, don’t jump from a system to another system when you get string of losses.
Because many times people jump at the worst possible time (i.e. you select another system which you don’t understand, and the system you left started to pick-up).
When you experience a string of losses, trade with small size or stay away for a while.
Happy trading.
You are right tricky - never use a REAL Account - before you are comfortable with a strategy - try first DEMO
a pipsy day to everybody
Summary of entries on GBP/USD & EUR/USD today (all times quotes are GMT)
EU: 1.3273 @ 08:30 / 1.3276 @ 08:45 <early entries, not main trend entries>
GU: 1.5917 @ 08:30 <early> 1.5875 @ 11:05 <trend entry>
So far all in profit and awaiting confirmational shorts to go in with more lots.
PS. New video will be up soon. I can only get these to work normally with sound on my blog as using youtube to upload the video and then linking it into my babypips post seems to create lots of white noise. Anyone have any suggestions?
Hello fx pro sir,
For eu and gu, did u go short ?