If you missed the H4 Ex/Op on GBPJPY >> we just had a H1 2550 Short Signal.
If you want wait for the H4 Short Signal.
Regards
E. Lang
Looks like short on 4h has been triggered for GBP / JPY :o
RSI doesn’t seem to be below 50 Polish, its not valid, but its good on H1. The only problem is Stochs. have crossed so its going to correct now.
Regards.
Effi Lang
[B]effilang, how do I calculate the ATR*2. I use a ATR system for equities for position sizing and risk. I have not been able to figure this out looking at my forex charts.[/B]
[B] Example USD/JPY 4hr ATR 100= 0.5094… This has me all messed up. If you could explain I’d be grateful[/B]
Depends on the time frame.
If you have an ATR of 1.5630; you can’t take the first two numbers on a D1 Chart. 15 Pips wouldn’t be much of a stop, nor 30.
You need to correlate it to the time frame you are using by basic logic.
Just work it and you’ll get it right.
Currently on USD/JPY:
M1: 0.0300 (3 Pips)
M5: 0.0636 (6 Pips)
M5: 0.1030 (10 Pips)
M30: 0.1735 (17 Pips)
H1: 0.2488 (24 Pips)
H4: 0.4783 (47 Pips)
D1: 0.9116 (91 Pips)
W1: 2.2094 (220 Pips)
M1: 5.3782 (537 Pips)
Just apply the same principle to the other pairs.
Regards,
E. Lang
ENTRY 2.0198
SL = 2 x ATR
Regards,
E. Lang
So if atr is at 54 the stop would be 108 pips?
Yup. Thats correct.
1.5 to 2.0 x’s the ATR
damnnn im getting killed on this gp jpy trade.
what you think eff
I’m thinking you should have never taken the H4 signal in the first place as RSI was over 50.
H1 would have been fine for bout 70 Pips enough to hit at least one profit target. ATR was at about 56 at that point so around that profit would have been a good exit unless you trailed it, but then it would have reversed at stopped your remaining lots out.
The Price will be coming back down in the next couple of hours, if you have the stomach to hold it off you can minimize the loss greatly.
Regards,
E. Lang
[B]If you missed the H4 Ex/Op on GBPJPY >> we just had a H1 2550 Short Signal.
If you want wait for the H4 Short Signal.
Regards
E. Lang[/B]
Your entry would have been 2.0250 and you would be up 100 Pips now, yet another good 2550 trade.
What more can i say.
Regards,
E. Lang
We’ve broken lows so we are going to manualy trail our SL to the recent High at ~0.2230
I’m going out, so im just gonna set my SL at 2230 and let it trail with 100 Automated S/L
Thanx guys.
Have a good day and weekend.
Regards,
E. Lang
[B]If you missed the H4 Ex/Op on GBPUSD >> we just had a H1 2550 Short Signal.
If you want wait for the H4 Short Signal.
Regards
E. Lang[/B]
Your entry would have been 2.0250 and you would be up 73 Pips now (maximum range has been +96 Pips so far) - yet another good 2550 trade.
What more can i say.
Regards,
E. Lang
I am closing this trade out at apprx. 2.0068 for 182 Pips.
This weeks total is (Sunday to Friday):
+342, -146, +260, +182 = [B]638 PIPs Gain[/B] so far.
We will see what next week has to offer us.
The results are still ok for a week.
Regards,
E. Lang
I teach the Daily System separately.
Now as for your dilemma:
A lot of people have been asking about the profit i and my students make with the systems i trade and teach, so i’ve uploaded a pdf file that includes a Trading Report for the last month detailing account growth during that period.
You will note that it is 15% +, BUT what you won’t realize is that the lot sizes for these trades are 10 cents (1,000K) per pip, i think based on that the smarter of you will be able to make an estimated calculation of PIP returns per month. Once you’ve done the math, just think… 1 dollar per pip… or MORE…!! THINK!! … 2 dollars per pip!!
Small is big and this proves it or like one of my good friends, trading colleagues and student said today;
“Small **** adds up too”.
You just need to be consistent.
Anyways, just to give a modest hint. We do our best to maintain a 5 thousand pip per month worst case scenario minimum 
.
As i’ve mentioned before, i do coach on other systems. This one in particular i don’t but at least you can see what trading results are like for those of you who’ve been wondering if the systems i’m teaching work at all.
Regards,
E. Lang
Hi Elang,
Very impressive, although can’t say as I’m surprised as I recognise a good trader when I see one! Can you give a bit more detail on the systems you teach please i.e. cost, how you do teaching etc?
howdy y’aall
mi mama here. she be a better righter than me.
Hi elang,
This system is based on 10 cents a pip on a 10,000 account. You cant tell people imagine if it was 1 dollar or 2. you can let 10 cents go and multiple lots for each currency pair for example hundreds, thousands of pips and for a long time before getting profit. You cant say the same for 1 dollar or 2 lots when have multiple trades going adding up. If this a 1 dollar or 2 then you show 1 dollar or 2. Plus this is based on the psychological loss of losing just 10 cents a pip.
To gomerpip:
I appreciate your attention to details. Thanx
[B]USD CAD - SHORT[/B]
PENDING ENTRY: 1.0235
SL: 1.0384
[B]EUR USD - SHORT[/B]
PENDNG ENTRY: 1.3779
SL: 1.3926
Regards.
E. Lang
There aren’t any H4 Signals for 2550 today guys, pretty much everything was triggered at the end of last week.
I will let you know if there is anything i enter.
Regards,
E. Lang
polish, did you hold out short on that trade like i recommended, i believe you should be in somewhat of a profit now, perhaps around the 80 pips area ?
I hope you held it out!
Regards,
E. Lang