So say we all!
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Wow the markets are moving today! Caught a nice move on GBPJPY. 20 pips! Wish I was around earlier trading.
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How long have you had this trade open?
Since about 8 am eastern.
Looks like it will go into tomorrow at least. But I am prepared if it takes a few more days.
To me, that’s the beauty of small entry sizes. I can manage open trades for as long as it takes to make them winners and there is little pain while they are in the red.
I plan to close at 270- 300 pips profit (fingers crossed, as always).
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What strategy are you using there AT? Is this KOF or are you using the first strategy on here?
Hi Rock.
I used KoF on the Eur/Usd.
I have embraced the fact that every now and then they can take days to get back in profit.
*The screenshot was from my phone, which is set up for the Channel strategy.
I had to leave the house early this morning for a while so no active Trading today. I feel dirty.
My Cad/Nok should net me 2000 or more Pips but it’s been running for all of July and may go deep into August before closes. Any new entries now add about 400 Pips each.
Nice!
How’s the stress level as you wait for it to come back?
Holy crap man!
Hi Samewise.
Its relatively stress free because they are small entry sizes.
I added positions as we are dancing just over the 500ema. One of the new positions is currently at a profit of $3.84 and the other one is at -$0.17.
Overall profit max deficit was -$230. Its now at -$131.
I am working with non-major pairs so they rarely make huge moves.
Like I’ve been saying for a while now, it barely matters if I guess wrong on direction at the start because I know I’ll be adding positions until its a win.
These daily chart trades are for me to learn the long game and to add a few hundred dollars to my account when they are ready to be closed. Obviously, I intend to turn those into thousands when am confident its time to do so.
It’s the most stress free that I’ve been since I started trading.
I was able to reach my daily earnings goal using kof this morning. Nice thing is it only took me 10 minutes of trading.
I hope the rest of our baby pips members are also having a great trading day
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Got my first week off this year, and been trading a scalping strategy that started off as your kof, but I’ve changed it quite a bit but used the cost averaging the way he does. I have to thank you for pointing me in that direction, it’s made my method much more consistent. The wins are nowhere near as big, but the losses are tiny and they’re mostly when I need to get away so close everything.
In 2 days, I’ve done 12% whilst only trading a couple of hours each day. If I was at home, I think I’d double the account in a week.
The only thing I don’t like is that the wins are bigger when my entry is worse. Seems counter intuitive, but scalping I’m usually OK at exits, so my tp has been in the right place.
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Way to go!
That’s what makes me the happiest in trading, seeing other people having success and enjoying trading.
Glad to hear you finally got some time off too.
Thanks.
I’ve had much more successful trades than this, but I’ve usually had big wins massively reduced by big losses. I didn’t mind as long as I was profitable. But running the maths on even a small account with these gains add up so quickly that scalping + consistent wins is a game changer.
Hopefully I get some quiet time at the end of the year to see if I can really cut it. It’d be amazing to have the freedom and time to see the kids more
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That’s the way I look at it too. Erasing the losses makes up for the smaller wins and at the same time keeps the confidence and the happiness at a high level.
I’m +72 pips so far for the week. +134 pips on the wins, -62 pips on the losses. I think maybe I’ll give myfxbook a look to get some more stats on my trading. It would be interesting to see the monthly comparison for the year.
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Modest earnings for me today.
I only had time for 2 trades.
Got a green candle on my Cad/Nok. Every one this size = over $100 cumulative on my 9 micro-lot entries.
Looks like I should expect a red candle soon. A good opportunity to add another entry. Maybe 2.
You trade this a bunch! Why this pair?
I have a bunch of open entries on it based on the daily chart. I started it at the end of June. It may go for either another week or two, or another month or two.
Since the setups take months, I wanted to get in when one comes around.
I still scalp most days too.
Trading day recap. 0.16% account increase, which meets my minimum daily goal.
6 KOF style trades. Average trade duration 6 minutes.