Dang - haven’t heard the word ‘blimey’ in some time. how does one not smile when hearing that 
Am glad you are liking the thread and material. Am hoping to bring a straight forward approach to trading and reading price action.
Kind Regards,
Chris Capre
Hello B4A,
Good question - as to calculating R:R on one position split in half, you’d take the R:R on the first one, add it to the second, then divide by two.
Another way to do this is if you take a 10 lot position, with 50 pips risk on the 10 lots, then you close out 5 lots at 60 pips, and 5 lots at 90 pips, the total pips would be 60+90/2, because they have to be averaged out. So 150/2 = 75 pips profit on 50 pips risk, or 1.5:1 reward to risk ratio.
Hopefully this helps give some clarity on it.
Kind Regards,
Chris Capre
Got it Chris,
Thanks for the elaboration.
Cheers.
Well looks like Ive been doing it wrong! Haha! I close half my position at 0.5 RR and depending on the strategy and market conditions I either trail or target a specific risk multiple.
Thanks for the clarification though.
Top man.
Apex.
Hello Chris!
Could you give me the link to access the article “How to Negotiate trends?”, I gave a sought after on your site, but found nothing about it.
I was at the part where has all your items and there was nothing about it.
Thank you in advance for the answer!
Hello BF,
Go to the main page, click on the second button ‘Forex Trading Strategies’. You’ll see a drop down menu. Select 'Forex Strategies. On this page, its the third link down so you should see it there.
Hope this helps.
Kind Regards,
Chris Capre
Hello Chris!
Again here I am again, now answering your questions I can detect which direction the trend using the 20 EMA, she tells me to up or down or one range.
Now [B]what kind of trend is[/B]? That I can not say I did not think that your article on their website that talks about “How to deal with trends” and so I’m out of this concept yet, but would love to learn, because I know I’m missing something and I can improve my trades with this! For me it would be great to learn. If you have any link to access the article on your site would make it much easier for me.
Regarding question [B]4)[/B] would have some standard training game? I think I could draw a triangle that image of the GBP / JPY, and yet one could say that the price is breaking the pattern of this triangle, ie, over the line of resistance.
And as a [B]last question[/B], for me the next setting trade more favorable than the last two have already flagged the chart, I see that the next signal will be more favorable when the price touching again on 20 EMA dynamic support that will serve as, when the price to achieve some level of fibo retracements when the stochastic crosses the blue line above the red line again, and preferably this blue line touch the 20 level and the stochastic is also clear that the price will continue to rise and the 20 EMA continues pointing upward in the graph as already attached. Such a configuration would trade more favorable to me.
Another thing is that I’m still newbie and not business full-time, ie, I have a job during the day and why I use daily charts that allow me to see a better direction in which prices are moving and so the eye Letters only once or twice a day, take approximately 10 to 15 minutes to do so. Most of the free time spent here even reading the forum and learn from members and reading lessons learning.
I want to become a professional trader, but I am fully aware that I have a long way to go and many new things to learn. Just wanted to get the most important issue that I found so far within the forex is the PRICE ACTION and so I am here in this forum to learn more about it and learn from you that also proved to be a very wise and experienced trader. It’s important when we are beginning to reflect on someone who demonstrates confidence in what you do, even when it comes to trade with real money.
I see forex as a real business and it should be taken seriously, and not just a game where having luck or bad luck. So every decision should always be well grounded and that is what I learned so far with training your articles on your website that are helping me become a better trader every day!
Hello Traders,
So coming back to the crude oil setup from Monday, this one went right to the level we talked about (just .06 above), hit it twice, then bounced higher, now up +170 pts so hopefully you profited on this one as it offered a great reward to risk play (chart below).
Now the commodity has bears up ahead at 97.63, and 98.21, so bears on corrective moves up can look to sell, while bulls will need the stops tripped from the aforementioned bears before finding new bulls to join.
Kind Regards,
Chris Capre
had a short term sell on oil there bagging 155 pips yesterday from this commodity.
looks like we may have to take advantage of the 200 pips consolidation currently in place.
Grix
No problem Chris - I just call it how I see it!
In still in my GBP/CHF, and also entered long AUD/USD yesterday, was 40 pips or so up when I checked in this morning. I saw the Daily PA sitting at the bottom of the Daily range, saw a higher high on the Hourly, so took an aggressive long off the break of the high on the Hourly - gets me into the trade earlier than taking it as a conventional EOD setup, so improves my R:R. Apologies for the lack of chart - posting on my 'phone, Mrs Templar has taken me out kitchen shipping!
ST
Nice pip bagging there mate… Congrats.
Thanks Bull,
That was a good one but got my finger burnt by oil once…:16: can be volatile at times
Hello All,
2nd position on AU ended up at BE.
2nd position on AUDCAD is still on the positive.
Buyers rushing in on the Ozzie pairs producing a very bullish engulfing candles on both pairs.
On the AUDCAD, a small pinbar was formed after price pulled back to a role reversal level (is it correct to call it a mini KRRL or intraday key role reversal level?).
I’m holding on to my 2nd position and see how price action develops in the succeeding hours.
The next important level for me to watch out for is at 1.0306 w/ is a potential key role reversal level and depending on how strong buyers are in the next hours, I’d expect this level to hold.
Admittedly, buyers are increasing but overall trend is still down.
This is a trade management aspect and I very much welcome any and all opinions regarding how I handle the 2nd position.
Cheers.
Pending sell limits at 0.8458 on EURO POUND just got filled.
Buy stop @ 25 pips above.
1st tp placed @ 0.8365.
Cheers.
well ask yourself when do you think a trend is over at least short term?
but also ask yourself has any significant counter-trend signal formed?
however the management of a trade should always be thought about before the trade is taken, not during or after. have your conditions for an exit already in play, and if they get triggered, then you exit, and if not - you let it ride.
Hope this helps.
Kind Regards,
Chris Capre
ha - kitchen shopping interfering with trading…good times
will wait for a chart so can see more of what you were thinking, but good luck with the shopping as its a sport to most women
kind regards
chris capre
Hey guys, I have a question Im hoping you can give me some thoughts on…
I would like to know how much risk reward per month is considered good. Im not talking about 2:1 or 3:1 or anything like that, Im talking about total risk reward at the end of the month for any 1 pair.
Its just that I want to know if Im performing, and therefore I need a benchmark from which I can assess my performance.
Muchas gracias.
Apex.
Hello Apex,
Two things;
there is no way for anyone to answer this in reality because your system is not theirs, and each system will have a baseline R:R that is would suggest performance, or lack thereof. So you are asking for outer verification when in reality, nobody can give this to you, unless they have traded your system inside and out, and really understand it.
along those lines, its far better to not look outside for verification about your performance, but really take the data from your own performance, track it over time, see when it was trading optimally, when it was not, then gauge it from there.
the answer could be 1:1, 2:1, 3:1, 4:1, 5:1, or anything, but the best person to figure this out would be you, over time, with a solid data set. And it may vary per pair for the same system. But having someone else provide the benchmark for you, would not be my first or second suggestion.
Does this make sense?
Kind Regards,
Chris Capre
Hi Chris, thanks for the reply, yeah I understand… With hindsight, maybe it was a stupid question, your absolutely right, nobody can tell me about a good performance ratio unless they have spent time with it themselves.
Looks like I’ll have to be persistent and hack through the data. One. Bar. At. A. Time. Haha!!
Thanks again mate.
Happy trading.
Apex.
I like this comment as it is spot on. However though I do agree with you already have your exit strategy in play BEFORE you enter. But as we all know things dont always go according to plan (I have this smack me in the face this week). So it is my opinion to always be able to react when something pops up in the market that you didnt expect (like a reversal level maybe that didnt appear to be very stong ends up being stronger than you thought). How do you handle those? Do you stick to your plan? Or do you collect some profits and leave a little on?
Anyhow sorry I didnt post a chart this week as I said I did. Markets just dodnt give me what I wanted to show here being relevant to this thread. I had to play defense due to a missed stop and been fighting my way back. Will say though I have ended the week in profit but it was not easy.
Now that brings me back to my point what do you do when things happen that we didnt see coming but are now in front of our face. Anyone thats been trading for a while knows it happens. Things you didnt see, things you didnt expect and you are now looking at this and thinking oh crap that was not supposed to happen.
Reason I ask is I remember looking at my chart and seeing my stop got cancelled on me and my trade down a lot further than I wanted. Talked to the broker and was told to fill out some trade audit form. I remember seeing on this form it saying to manage the trade the way you normally would. Well My first thought was you SOB’s I would not be in the trade if my stop was honored. So Sticking to my plan I closed the trade.
This has had me thinking what do you do when you see your trade is not going according to plan? Do you close out the trade and lock in your profits (or in my case losses) or do you sit there with your fingers crossed?
Sorry I know this is not part of your thread (here I am derailing it again) but this seems to be one of the last active good threads with good people on it. And I feel its that emotional/physiological aspect that shows up (and it will show up). How do you go about handling it it a major part of the overall strategy. Its easy to say where to go long or short. But what do you do at that moment when you and think WTF is this? This was not part of the plan man.
