Hey, glad to hear its working for you.
Hope you have much success.
I’ve been stuck in a USD/JPY trade since Sunday night. I can’t really trade live until that trade closes, so I fired up my demo account so I can keep practicing and learning.
I’m trying to get better at trend trading with cost averaging (I’ve been mostly going counter-trend.) It does seem that the potential returns are higher. If I predict the trend direction incorrectly, my plan is to go counter-trend and average my way out of it (which is basically how most of my trades have been going lately.) But if I predict the trend direction correctly, then I can scale into the trade and ride the trend.
I caught a small trend last night and the returns were good. So I’ll keep working at it.
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@SurprisedMoose
Excellent! I bet we are all doing some fairly similar things. Once we know we can manage a trade, fear of doing something wrong fades away. Honestly, I don’t feel that I have to worry too much if I guess incorrectly. Because, like you said, it’s just a matter of time until I win.
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I think the idea behind only having open trades on 1 currency pair is vital for succeeding wth this. Taking trades as it moves against you but being careful not to open to many to close together. I have added an EA that tracks the current profit of all open trades and closes at a predefined set profit which seems to be working well.
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For example, the EA closed all 5 trades when the total profit all together was +£1
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Was your indicator this one? Close at Profit from here:-
The download is here for anyone:-
10597.zip (2.0 KB)
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So far, in this short testing, which concludes at the end of this month, I estimate I will increase my average monthly earning by $400 to $500 when I start using my full base trade size orders.
Hopefully, by the end of the year I can increase the size of those orders.
Apologies @rocktrucker it wouldn’t allow me to post a link or upload a file for some reason. Just zipped the file for MT4
CloseAtProfit.zip (30.8 KB)
USD/JPY finally closed in profit after I was stuck in it for 40 hours. It was my biggest test yet, but it grew my account 3.6%! Thanks @AmericanTrader for your contributions to the forum and introducing me to KoF’s style of trading. I owe you big time.
Here’s how it ended, I traded on the 1 min, but I took a screenshot of the 5 min so I could zoom out far enough:
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Amen to that. And really the big thing for me was actually trading MORE. You learn when you actually do. At least for me! And putting money on the line. And SLs more than no SLs. Still working on that one.
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Yay! Now you can trade again.
I am so happy for you and all of us that decided to take the leap and get to where we can be professional trade managers.
Edit: it was that big jump over the 50 EMA on the 1 hour chart for that pair yesterday that made me shy away from it. Now that it made the pullback it’s back in play
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You are one of the first people I conversed with on baby Pips, so you kind of have a special place in my heart. Your kindness came through in your posts. I’m guessing I’m not the only one who noticed that.
Always wishing you the best.
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Thanks for this. IDK how long you have been on here? But in the first month of being on here, I was restricted in a similar way too to adding URLs and uploads?
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Yes, you lose your fear of losing money with this system. I know I have as I am remember the lottery theory of the King.
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So, let me get this right. “-70000 @ 136.3944” means you entered sell short 70K units or 0.7 standard lot @ 136.3944? And after 40 hours, you covered 470K units or 4.7 standard lots @136.397 and made about $1,300?
Alright guys so the wait for me is finally over. The trade that started on Friday has concluded today with a total of 100 pips profit.
@SurprisedMoose I’m so glad, you were able to close your position in profit yesterday too and yes I agree with you. So so glad to have run into @AmericanTrader thread here and giving KoF strategy a proper chance this time.
I feel like now we are graduating towards being fund managers than fund gamblers 
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Nice!
Patience means $
Yeah not been here long! I think it was the file extension causing the issue though
Looks like today will be my worst day in a long time. Only made 20 pips on 4 tiny wins and running out of time before need to shut it down for the day. Avg # of entries 3. Avg time in trades 5 minutes.
Yes. My worst day means no losses. I suppose I can live with that.
Have a great day everyone. We knew Eur would get most of the big news yesterday because of the Monday holiday. So today takes the hit a bit and news not moving price as much. But we all know there will still be many opportunities today.
Wish I could spend a few more hours making money while watching tv.
95-0