just read my trade management style on this thread;
Take for example the GBPAUD setup i gave my stops was 60 pips then price moved up 85pips what i did was to move my stops(on one of my accounts) and lock in 65pips giving the market a 20pips room as you see price retrace down and i was stopped out with 65pips profits(more than my risk). Most times the market will retrace down stopped you out and then fireup in your direction but ‘‘a bird at hand is worth 9 in the bush’’. Most traders find it difficult to take out profits in the market cos they want to milk every pips in a trade(which is not a good trade management cos one cannot perfectly predict the markets) , cos by trying to catch every pips they endup not making profits,at worse they lose money from a good trade.
Sometimes experience traders used their gut-feel and overall market condition to decide whether to exit a trade or not.
[B]To follow my signals effectively[/B]; you will need to always visit this thread [B]5-15 minutes [/B]after the close of the daily and 4hours candle. Once theres signal i will post there ;currency pair,stops,targets and reason for my entry.
[B] MY TRADE MANAGEMENT STYLE [/B];Once price moves in our favour equal to the stops we will move stops to breakeven to reduce losses; for example if our stops was 55pips and price moves in our favour +40-55pips we will then immediately move stops to breakeven to give the trade enough breathing space to perform well. Then if price move 75pips we will lock in 55pips by moving the stops.
Really good signals… But I can’t afford the 50 tick or so stop… Do you also have signals for lets say a 12 tick stop for EURUSD, with a target of about 30 ticks? Thanks
am using alpari uk mt4 to generate signals,they have a time zone of GMT . The close of candles is pretty the same on most brokers. You need to ask your broker or try to figure out with your local time zone when the 4hrs and daily candle closes by looking at the chart.
the close of daily candle on Alpari uk using my local time is 10pm GMT+1 sometimes it changes by 1hr: this also implies that the next 4hrs candle close will be at 2PM GMT+1
seriously am not a scalper,
. You have to reduce your lot size to accommodate the stops. I think you need to read ‘position sizing on the educational section of this site’ to have a better understanding of this concept.
whats your account size like?
Depending on the account size i take 30-40% of the total profits i make on the account.(I HOPE AM NOT VIOLATING THE FORUMS RULE BY POSTING THIS,MODERATOR PLEASE PARDON ME)
A 30 tick profit target is not scalping! Though I received my education with an institution and not on this website. But thanks anyway… And keep up the good work. It seems your doing a lot of good for a lot of people.
that means you will buy immediately i post the signals sometimes it may be few pips below or above the price i post, and you will set 55pips(FIFTY-FIVE PIPS) as the stops, 160pips(one hundred and sixty pips) as target
Hallo Horique … thanks alot for sharing your tips . i am newbie . i have been reading alot of books and watching alot of videos . could you share how you came to this analysis or conclusion? is it possible to share your chart . i would be really greatfull if you could teach us .
Hello guys, we will likely buy the Eurusd at the close of the daily candle.
i have attached a chart showing reason why i will likely buy the Eurusd: theres a powerful rejection at 1.3060. remember Forex trading is a risky business so never you bet the farm on any of my trading signals cos we can win and lose on any given trade .
I just placed an order entry for 2000 units wit FXCM. U have set my buy at 1.3065 and stop loss at 55 and my limit at 150 pips. Let’s see what happens and I will report accordingly.
