My favorite mantra is

system · September 25, 2013, 2:28pm

first of all I want to thank you for your attention and introduce myself. I am Daniel, in touch with trading and forex since 2008. In touch? Yes, I was follower of different pseudo guru’s and Signal Provider on different social trading sites. (until now they are already closed or crashed :D!)
After a totally fail of some providers my account was crashed to 3,5% equity. The balance curve goes straight down to hell, day by day, trade after trade.

After this experience I decide to learn trading on my own. So I have learned and thought what I have read was the holy grail, by the way this was an eBook from a pseudo realmoney trader. Trading daily highs and lows.
On highs you go long and on lows you go short with the expectation to break these high/lows.
One or two month works great, but then there comes the crash again, market just moves sideways and pending between high and lows, like professional chinese ping pong players

Then I bought another book, there comes a crash and what happen? Yes I am following a workshop guru and so on. I had crashed around 5 accounts to zero, the same way like these Signal Providers. But they are earning money with these crashes, and me? I am loosing much money and need to work from 5am to 5pm 5 days a week, over months to get a new account.

I have tried to trade on news, green is good for the currency and red is bad, right? So NFP is green, sell the EURO, fail after huge movement down, the price retrace much bigger and harder than I could imagine. 15% loss on one trade because the performance of my terminal was low and SL was everytime I try to set broken.
Since this day, the Non Farm Payrolls are No Forex Profits!

So after years of try and buy I have found this site, the School of Pipsology was very helpful, but nothing new. After all that scam products, services and signal provider I found the same information free on babypips.com!

I have long time thought about a way to trade, so I found a solution, my own way to trade. I cannot copy anyone else way to trade, I need to find my own way or follow some professional signal providers, but there is no really good out there.

The way to trade on my own tooks around 2 years to find out. Now I have found it and I can proudly show a profitable trading over 1.5 years.

Last year account balance curve 185%:

And the actual balance curve is this 86%:

My trading based on 99% technical trading in a higher timeframe to get high probability trades. Every trade has an initial SL/TP. Using a Trailingstop of 25-50 pips depending on pair and market conditions.
SL are very tight <50 pips and the initial R:R is 1:1 so TP = SL minimum.

And if you have any question feel absolutely free to ask or contact me.

Thank you

TechPower

PS. my favorite mantra is to protect the profits, so I prefer to scalp the first Lot and adjust the SL to breakeven after 8-10 pips.

system · September 25, 2013, 4:04pm

New entrys for USA and coming Asia zone. Trades are valid for the next 11 hours or London opening.

Long USDJPY 98.05 to 98.20 SL 97.80 TP 99.15

system · September 25, 2013, 4:05pm

Long NZDUSD 0.8175 to 0.8185 SL 0.8145 TP 83

system · September 25, 2013, 4:06pm

Long EURJPY 132.35 to 132.40 SL 131.95 to 132.00 TP 133.25

system · September 25, 2013, 4:08pm

Short USDCHF 0.9170 to 0.9160 SL 0.92 TP 0.9040

system · September 25, 2013, 4:09pm

Long USDCHF 0.9030 to 0.9040 SL 0.90 TP 0.912

MrGone666 · September 25, 2013, 4:32pm

More than a year with 1:1??? You have to be kiddin’ me.

system · September 25, 2013, 4:42pm

Think the irritation is that I write initial, if you look to the valid trades you see that the TP > SL.

MrGone666 · September 25, 2013, 4:45pm

Good luck with that one. When fortune does not smile on you give me a call. I really don’t believe your winning rate is more than 50% when only 30% is enough. I always go for the 1:n>3 You will never know when yous system will not work.

system · September 25, 2013, 4:59pm

I have spent countless hours in front of my screens to continuously learn about this dynamic market over the past 3,5 years.
The trading strategy is quite simple yet highly effective. I always believes that taking a trade only when a clear setup is there on a larger timeframe, when there is no fundamental news scheduled is the best way to approach this market.

And the system works under all market conditions so far. Even During a Central Bank Intervention like BOJ or FED and even during the Syrian crisis.

So my usual risk and reward level is 1:1 at least, however depending on the setups, it increases. With the money management, like I explained above, I am conservative traders and the target is to double the account value in 1 year, which makes it roughly 8% every month.

MrGone666 · September 25, 2013, 5:05pm

What will you do when having a losing streak. 10 loses requires 10 wins. With 1:3 requires just three. Just chill down, you are just talking like me on my starts. And believe me what I say, no system works in all conditions. Markets changes, you are just having luck that is all. What works now, it might not work tomorrow.

system · September 25, 2013, 5:24pm

I respect your thought, but you’re wrong. Don’t know why you insist to the initial TP and think the trade is over when it comes to this zone. Second try. This 1:1 R:R is just the initial this would be adjusted after the breakeven for example.
As you can see on the setups above the R:R is > the SL.

And an additional screen. Perfomance for the past month september. There can you see that the badest trade was a SL (-45 pips) and the best trade is around 5 times bigger than the loosing trade. (222 pips).

Daypip · September 26, 2013, 5:22am

Entry missed by few pips, setup give a very nicely bounce up to 99.10.

Daypip · September 26, 2013, 5:28am

New trade ideas, try to avoid execution during news.

Sell NZDUSD 0.8320 to 0.8315 SL 0.8350 TP1 0.8240 TP2 0.8215

Daypip · September 26, 2013, 5:39am

Valid before USD Unemployment Claims.

Buy GBPUSD 1.6 to 1.6010 SL 1.5965 TP 1.61

system · September 26, 2013, 8:53am

The bounce come 10 pips earlier than expected. Market price is 1.6040. The bounce is over and the probability is now lower!! Even we have another us news ahead I delete this pending order.

system · September 26, 2013, 9:00am

[B]Valid until London closing.[/B]

[B]Buy AUDCAD 0.9630 to 0.9640 SL 0.9605 TP 0.9685[/B]

system · September 26, 2013, 9:04am

[B]Valid until London closing in 3 hrs.[/B]

[B]Sell USDCAD 1.0340 to 1.0335 SL 1.0370 TP 1.0275[/B]

system · September 26, 2013, 1:15pm

The trendline holds and price was rejected by the pip from 1.5998. Market price is 1.6021, if there is any trade executed adjust SL to BE and take partial close.

system · September 26, 2013, 4:05pm

Market price is 1.6038, I think the move is now near the end, i would go out with ~38 pips profit or set the target to 1.6045 or 1.6065, depends how greedy you are

Chart GBPUSD, H1, 2013.09.26 19:58 UTC, Activtrades Plc, MetaTrader 4, Real - MetaTrader Trading Platform Screenshots