@rround
Thank you.
I’ll give it a try.
Hey @SurprisedMoose, would you mind sharing where you got the average position indicator. I downloaded one but its not working for me. I’d rather find one that works without searching through a bunch.
@AmericanTrader you also have a green horizontal line. It looks like some kind of support / resistance thing, would you mind sharing that one too?
Thank you both.
I have to do it manually. Thinkorswim will show my average price, but I have to draw the line on the chart and update it everytime I fire off another order.
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I’m looking forward to see how that works. So far, I’ve only traded against the trend while cost averaging. I haven’t done it with the trend. It reminds me of how position traders will scale in and out. I’m going to watch more KoF videos on it this weekend.
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Lots of ways I could have improved my entries.
Started on 1M chart. Moving to 5M showed better entries.
The 18 pip win should have been at least 30 pips more by placing a second entry at the 165.500 level.
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So far, so good.
Applying the PSAR should have told me to stay in the trade. All entries would have been in profit.
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Done trading for the day. Two ‘trades’ on kof. Still no losses.
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Woah, USD was just going bonkers.
Trading has been a lot of fun this week. It’s been very nice not having any losses so I didn’t have to make up for them on additional trades.
Even a small win is so much better than any loss, especially a big one. Once I have practiced more and get better at my entry points, days like today with only two trades will get me the 60 or 80 pips.
So next week, the journey continues. Planning on still Trading kof. But now after my initial entry, beginning with my second entry, I will increase the lot size a little bit.
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Hi, late to the party but scanned the start and end of this thread, sounds like you’ve found a winner.
What is this king strategy? I can’t tell from your charts. It’s probably in the thread, but this forum is unreadable in the middle of threads, it jumps all over the place as I scroll and I have no idea where I’m looking.
@chesterjohn
Hey john, welcome to the thread. Glad you stopped in.
Yes, a few of us are using the basic king of forex strategy. It’s a counter-trend typically on one minute charts for major pairs. His YouTube channel is simply king of forex. There are many recordings of live trading sessions there and the strategy is explained in nearly all of them. This isn’t the strategy I started the forum for. That strategy remains good and very profitable. In the recent month or so I also altered it to simply a moving average crossover with the PSA r for stop loss level.
But I and at least one other for a member are doing king of forex predominantly as of just this week. I had demoed it heavily a couple of years ago and really liked it then but somehow got sidetracked with some other strategies and now I’m remembering how great it was.
this forum is unreadable in the middle of threads, it jumps all over the place as I scroll and I have no idea where I’m looking.
hmm. i am not the only one who noticed this.
If you disable javascript for your browser, it’ll be easier to scroll back through older threads.
Were you trading this one with the trend and opening more trades as it moved in your favor?
@SurprisedMoose
Was that question for me, moose?
I was going counter-trend all the way and buying during the downtrend. Then I closed when it got back to the 20 EMA but the PSAR told me I should have stayed in till the 50 and made a good 60 70 pips on it
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