Hey MG, ready to talk exit strategy yet???
Let’s say I’m long on something like a /jpy trade that’s been going up forever. It will come down one day. Do you:
I went long on this pair and currently up +50, but now I’m concerned because 1, of hitting the 38% fib, and 2) a possible “Three Line Strike” candlestick pattern…although I’m sketchy on whether this is a bearish or bullish… and I drew in the last red bar because that’s what a possible outcome could be tomorrow if it is…although I am getting a little ahead of myself…the last green bar is today which hasn’t finished developing…:8:
Just like just about everything else I do there is no set criteria.
I will move the stop generally over and under developing or developed patterns of support or resistance.
When I have time, I’ll post another example of a stop.
Following are DEMO Trading results thus far, beginning Feb 10 – using my own interpretation/understanding of the [B]MasterGunner99 Methodology®[/B] (MG99M) – with an initial Account balance = $20,000:
CLOSED Equity = $19,800; Total -0100 pips
OPEN Equity = $ 2,300; Total +1288 pips
_Total Equity = $22,100 (111% of account)
[U]Existing GTC StopLoss orders outstanding:[/U]
None
[U]STOP DAY orders placed in Feb 20 session:[/U]
EURCAD (_Long 22,100 @ 1.3569) [NewEntry]
NZDJPY (_Long 22,100 @ 079.54) [NewEntry]
Hey Sweet Pip,
Take heart.
(1) A “Three Line Strike” – Three White Soldiers followed by a Black (Down) day that opens above the 3rd day and closes below the 1st day’s open – is considered a Bullish Continuation candlestick pattern. [I don’t really know much beyond basic candlesticks; just searched the web for info and learned something new. Thanks!]
(2) Plus, if you’re still worried, you can always pretend you’re using my chart below. I’ve circled the “same” (last) 5 bars as you, but obviously they’re different. My broker (TradeStation) doesn’t allow trading on weekends (between Friday close and Sunday open), so I suspect this is the primary difference between our charts and data.
And traders wonder why there are different results when using the same system!!! lol. All three charts are quite different in candlesticks formations…but still kinda the same where price has ledges of suport & resistance…interesting. I’m using Oanda. :33:
That looks like it would be hard to sit through and wait as you watch all that profit from the last 3 days dissappear before [U]possibly[/U] resuming again…yikes.
Hi Machinegunner,
nice method there, I’m doing something similar with my account, but I have % acct balance based SL and TP ratios instead, and I based my entries mostly off the 4H chart.
Looking forward to more from this thread.
Focus on the equity. Not the individual trades. Volatility will always be there.
Hi Gang,
I’ve been busy setting my stall out and have now started the process, here’s my portfolio for review. I am only using these pairs as my account does not have some of the NZD pairs and I don’t like the EUR/CHF long term profile.
I’m using my real account as I need to control my psychology surrounding real money. I will be placing trades initially with the minimum lot size allowed which is less than 1% per 100 pips risk until I am confident with the methodology.
Hi Sweet pip, I think the difference in candlesticks is due to different broker’s server times which will paint them differently.
It is that and also the fact that some broker’s merge the sunday bar with the monday. You will get varying results so before you trash a system, try it on a different feed.
Looks great, Ltrader.
We’re in agreement on your 5 current orders – hopefully that bodes well for us … good luck!
I try to…but when those patterns happen…like now with my AUDUSD trade…it affects the equity too! :o
Considering I’m short AUDUSD you won’t hear me complaining. 
I do understand what you mean. However the stress is less when viewed as a whole.
[Wow – what was that, [B][I]International Long Candle[/I][/B] day? Apparently a day late … [I]that[/I] motivated me to finally put in some GTC Stop Loss orders to minimize losses and lock in some profits. Hopefully, I’ll be able to trail these, as well as any subsequent ones added, for eventual lesser losses and larger gains as the days progress.]
Following are DEMO Trading results thus far, beginning Feb 10 – using my own iinterpretation/understanding of the [B]MasterGunner99 Methodology®[/B] (MG99M) – with an initial Account balance = $20,000:
CLOSED Equity = $19,800; Total -0100 pips
OPEN Equity = $ 2,100; Total +1132 pips
_Total Equity = $21,900 (110% of account)
[U]Existing GTC StopLoss orders outstanding:[/U]
GBPUSD (__Buy 20,000 @ 1.5286) [StopLoss] {00 days}
AUDUSD (_Sell 20,000 @ 1.0227) [StopLoss] {00 days}
NZDUSD (_Sell 20,000 @ 0.8317) [StopLoss] {00 days}
EURGBP (_Sell 20,000 @ 0.8662) [StopLoss] {00 days}
EURNZD (__Buy 20,000 @ 1.6033) [StopLoss] {00 days}
GBPAUD (__Buy 20,000 @ 1.4946) [StopLoss] {00 days}
GBPNZD (__Buy 20,000 @ 1.8412) [StopLoss] {00 days}
AUDNZD (__Buy 20,000 @ 1.2358) [StopLoss] {00 days}
NZDCHF (_Sell 22,460 @ 0.7690) [StopLoss] {00 days}
NZDCAD (_Sell 20,000 @ 0.8462) [StopLoss] {00 days}
[U]STOP DAY orders placed in Feb 21 session:[/U]
USDCAD (_Long 21,900 @ 1.0186) [NewEntry]
What a wild day. In terms of equity, I remained about the same however.
I obviously don’t have enough trades open yet to balance these kinds of days 
You weren’t bearish the dollar were you?
Also I’m gonna start posting here so make room guys.
It’ll be long term combined with COT and market structure. On at least 5 pairs. I’m scared to have 28 going lol maybe ill build to that.
That’s mostly cause in not sure how to use the COT on crosses.
That;s one of those questions that can have 2 meanings depending on where the emphasize is put lol…either suggesting I should have been , or tsk tsk that I was…but yes…I am long on AUDUSD which is bearish USD.
