I got about 150 pips overnight. I’ve g0t 13. lowest one is @ 206.69
all the others I bought lower I sold now. I grabbed some profits overnight of 11 pips 21 pips and 31 pips and scalped a few others for 6-10 pips and reentered orders going down. Margin is up to 4.58%
RT trades at 110 for almost a 1300 pip profit. Down unrealized now 1236 pips, so I am above even for the month and building equity pretty fast,
and today expect some bigger moves up. I expect 205.67 to hold
(FIB 38.2%).
ANd looking at the 4 hour, despite the move down slightly overnight things are still looking up and on the 4H it looks like Stoch has already crossed heading up, slowly and steadily so far after bottoming out.
Jeesh…I did nothing last night. My lowest buy limit was at 206.50. I didn’t get any of the movement after that. Woke up a half hour ago and saw the carnage. I am in on a bunch higher up but have some movement to go before getting there.
So what did I do wrong? Should I have had my buy limits go all the way down to where?
You can see this is 732 banked pips for the day. Unrealized pips down is 1225
this is a huge day. 732 x 5 is almost 3700 pips/wk. I bought all the way down. One I carried for 70 pips or something. This is ALL while I was away today.
Regardless of your spacing, you need orders in and pending.
I have orders pending down into 203 at least for a week now maybe?
If you increase your spacing, fine, you still need to buy all the way down.
If margin is going to be tight then you need 4 per figure not 10.
or 3 per 100 pips. or 2 or 1 even. And if you arent watching you wont be able to buy any manually at the bottom. If you were watching in the 10am range you should be able to see its a bottom there even if you were watching as it developed.
No I didnt get as many pips as I could have. But 736 in 24 hours of trading is pretty good for me. I try not to kill them and want to limit my risk.
So my sytem is effectively a hedgeing system, by investing in drawdown,
you are assured of a reward and appreciation. And the key is buying long as low or as cheap as you can. But you need to be patient and not get too many too high (TMTH). I DID on 3/16, there were so many bottoms
and I got too many too high and got sold out because of poor margin management and my inability to get $ into my account fast.
See if you had those orders in low you would have banked mad pips.
And offset your drawndown substantially. Days like this are ideal for trading.
Its funny , straight after I asked that question she started rising and bagging pips all the way up. This system is absolutely amazing, once again thanks for sharing Elijah. Haven’t counted yet but made alot of pips !!!
I’ve been trying to understand this system and this is what I think I understand…correct me if I’m way off base :o
So you only want to place Buy orders because only Buy orders earn interest even if the trade is in a loss at the time interest is calculated …Sell orders, get charged negative swap whether the trade at the time is profitabe or not…is that correct? In MT4 it says swap…is that the same as interest?
The Buy orders are placed or staggered as the price goes down…in anticipation that the price will bounce back up sooner or later?..which is why you don’t want to use a stoploss? So like you said you’re investing in the drawdown and the drawdown earns interest?
Then there is no real need of any indicators except maybe an oscillator to tell you when it’s the start of a down cycle?
So if I’ve got that right, then I’ll just have to try it
The 4H sure looks like we have resumed the move back up.
RSI is testing 50 everything has crossed up or is coming up from its down peak.
I’ve still got 12 orders left starting at 206.89 and going up. See open trades above.
I am looking to get long every 10 pips as it goes down. I expect to test as low as 205.50 overnight, then I expect to blow thru 207 overnight or in the mroning. We may not see that run down, but they are sure going to try to run it down overnight as usual. But as you can imagine they won’t be able to hold her down.
See some brokers call it swap and dont pay you premiums (interest as cash)
they lower your basis on the trade the exact amount needed to equal what is due you. forex.com does this (effectively the same as paying interest)
so if you got long at 206.00 and the day rolls over at 5PM forex.com will lower the price at which you got youir long top like 205.96 or something
which effectively gives you 4 pips.
You pretty much got it. Keep your margin %age useage low and dont buy too many too high… Instead of every 10 pips down do 20 or 25 or 35 or 40 or 50 or 60 or something this beast has a huge range.
You dont use a SL because you only close orders at preset TP points that yield a profit.
I think the thumbs up or down icons above the join date of each post are where you can give others a “plug” towards their reputation. If that affects the blue boxes I don’t know. There isn’t much info, or it’s not easily found.
