Hi, here is my today’s prediction on GBP/USD:
BUY
If the price breaks resistance 1.61743 bullish will continue. The aim is the 1.62354, with the following move up to 1.62964.
SELL
If the price breaks support 1.61133 bearish will start. The target is 1.60522 with the following down to 1.59912.
Summary of Wed - Thu Trading this week on GBP/USD:
GBP: +84, +99, +100, +100 —> THUR ENTRIES
+100, +101, +102, +105, +109 ----> WED ENTRIES
This was based on the minimum exit of 1.6064 yesterday evening. If you held on until this morning you could have exited at 1.6039 so +25 ON EACH TRADE.
TOTAL: +900 PIPS (1ST EXIT)
+1125 PIPS (2ND EXIT)
Great Work bro followed your guides and had a wonderful couple of days, good luck with your trading 
;);)
Good call on GPB/USD candle7779. I took it and made 61 pips. In at 1.6113, out at 1.6052.
But I’m confused how Mike has claimed to have made 900 pips on a move of about 130 pips.
Can you please explain Mike.
Thanks
Probably had a whole bunch of positions open. Seems like he had 9 GBP/USD positions, and made 80-110 pips on each, closing them at different points.
This is correct.
Summary of Premium Members Area:
GBP/USD SELL 1.6037, 1.6037, 1.6034, 1.6037, SL 1.6065.TP 1.5963+ (LIKELY TO CONTINUE FURTHER DOWN)
EUR/USD SELL 1.3060, 1.3057, 1.3057, 1.3057 SL 1.3085 BUT!! 1.3075 AGGRESSIVE STOP SHOULD HOLD. TP 1.2984+ (LIKELY TO CONTINUE FURTHER DOWN)
I think this is very decieving or creative accounting at best!
I opened a £10 position and made 61 pips = £610.
If instead I had opened 10 x £1 positions on the same move, could I claim to have made 610 pips???
I don’t think so!
Not at all - it simply implies a lack of your understanding of what trading is about.
Trading is fundamentally about making pips. If there is a move of 200 pips and my system gives me 5 separate signals and I take them all with strict money management - then I count the number of pips I bank at the conclusion of the trend.
If you are experiencing difficulties understanding this I suggest rereading the Babypips School of Pipsology - they updated the course not that long ago and you may find useful information there that will update your knowledge databanks.
You may also find information on Money Management / Risk Management useful - there is plenty available freely online so just google it.
Best wishes,
M KN
PS. Remember - MAXIMUM pips will ALWAYS be better than minimum pips
:57:Main signals summary for Monday 22nd Oct 2012 :57:
GBP/USD SELL 1.6037, 1.6037, 1.6034, 1.6037 *SL 1.6065 TP 1.5963+
EUR/USD SELL 1.3057, 1.3060, 1.3057 1.3075, 1.3071 SL 1.3088 TP 1.2984+
I INCLUDE A SAFETY NET OF +3 PIPS FOR SPREADS ON SELL TRADES. If for whatever reason you have fixed spreads which are lower, and variable spreads which are higher - please adjust to suit your personal circumstances
Hey, do you factor in headline risk for your trades? Lately I’ve been afraid to open positions simply because of all the headline risk and can’t focus on anything else. I’m trying one of your signals, small amount just to see how it is
Hello OriginalUsername,
First of all, thank you for taking part in my thread. What is your real name, by the way?
Secondly, those who have been trading me for almost a year know that I do not look at news. I am a technical trader. Why? … because through arduous efforts, sweat, tears, sleepless nights and massive feedback the market has PROVEN to me that it is a technical creature. That is to say, it determines its trends based on unque technical features… and news is nice as it often adds speed to the development of trends, but it seems not to determine them.
In summary, you could say: Technicals = mould the trend and Fundamentals (news) cause the market to put its foot on the accelerator pedal.
Thirdly, the BEST way to learn trading is to ACTUALLY TAKE TRADES! IF you must, simply use a demo account or if you prefer to trade live use ‘tiny’ trade sizes so you can get a real ‘feel’ of what professional trading is like.
It really is a great feeling once you get to nail trend after trend after trend - very few experiences match or exceed it!
I wish you all the best in your trading efforts,
M KN
Thanks for replying! My name’s Fardeen. I just wanted to ask, what time do you usually update in GMT? Do you update them for the European session or the American one? Also, do your trades last a day or more or just a few hours?
Yes I’ve had a demo account for a while now. I’ve been doing really well on it in fact, and have gotten most of my trades right. It’s just when it comes to the real thing I can’t make a trade without that fear that maybe I’m making the wrong one. Maybe it’s because I’m still new to this but hopefully I’ll start finding some consistency in my live trading. Also, awesome job you’re doing here along with everyone else. Keep it up!
Hello to all the wisdom of the Babypips world… I have spent some time away from forex due to… nevermind, long story short, I’m back and stumbled upon this thread which has given me such an inspiration and motivation to jump back in. I thank you for this MR. ProsperityFXPro I look forward to learning as much as I can from you as you have no doubt put some hard years into this ever changing finance world of ours. I will be reading with great enthusiasm and intent, sir. Take care
Thanks Mike, that’s a reasonable explanation. I see now where you’re coming from.
I have a question for anyone using the stoch oscillator. What is the best chart to use it for and what values would be the most accurate? So if I’m looking at an hourly chart, what parameter values would be most accurate or useful? Should I also go with simple or exponential? Thanks. Sorry if I posted in the wrong thread.
what an amazing week with Euro-USD and GBP-USD, through your signals Mike ! I feel like I hit a jackpot since I found you here in babaypips ! keep it coming !
I just found this thread and wanted to see how things have been with everyone. Looking at the last comment, seems like at least 1 person is a happy camper lol. So I guess I will try this for a few and see how things go
ProsperityFXPro
What is your gain to loss ratio since you have started this? As in how many pips and what not, do you keep any stats on your progress?
Thanks for another great trade !! You make this too easy…