Currency trading on D1 time frame

Trader_D

Very nice system. Congratulations. Can you please share how you set your SLs? I thought it mght be Fibs but after looking at your charts I can seethat's not it.

Thanks!
Sandy

Hi Sandy,

Stops are usually 10 pips above/below High/Low of previous day candle.

Cheers

Thanks Trader_d. Nice and simple

Sandy

Sorry I meant to add, 0.9% reward for 380+ pips profit, you happy with that?

I remember that trade had 0.5% risk, i.e. around 1.8:1 reward:risk ratio. One could take 2% risk and gain 3.6% reward.
I exactly understand your point. I'm not very concerned about that. I'm still testing the method. My trades are real trades (not demo account), however sometimes I feel I'm too cautious to take trades with 0.5% risk. Hopefully when I'm more confident with the method I'll be a bit more aggressive. BTW I'll be happy to gain 4% monthly with this method.

Thanks for your remark.

Hi,
(T11302) sell limit not activated and deleted.

s/l moved to 1.3160 for following trades

(T11291) sell eurusd at 1.3212
(T11301) sell eurusd at 1.3118

Two new orders placed:

(T12011) sell eurusd at 1.2985, s/l: 1.3160 (0.5% risk)
(T12012) sell limit eurusd at 1.3048, s/l: 1.3160 (0.5% risk)

Got ya, so (on average) you're using approx. a 200 pip stop although like me looking for HH or LL of the session or previous session..
Hope you get up to 1% risk, like your style ..

actually stop depends on length of previous day candle.