A simple system -Dailys

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Old Feb 3, 2016, 7:02pm   #1
 
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A simple system -Dailys



Well, actually all trades won't be strict "dailys". Many will be intraday swings.

Last edited by piphoe; Feb 3, 2016 at 7:13pm.
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Old Feb 3, 2016, 7:06pm   #2
 
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piphoe started this thread USDCAD

Short 1.3831

StopLoss 1.4110
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Old Feb 3, 2016, 8:09pm   #3
 
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USDCAD

Short 1.3831

StopLoss 1.4110

Exited 1.3785

+46 pips
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Old Feb 3, 2016, 8:10pm   #4
 
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piphoe started this thread EUROUSD

Short 1.1148

StopLoss 1.2161
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Old Feb 3, 2016, 8:23pm   #5
 
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EUROUSD

Short 1.1148

StopLoss 1.2161
Exited 1.1121

+27 pips

I can do this all day long.
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Old Feb 3, 2016, 8:26pm   #6
 
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piphoe started this thread USDCAD

Bought 1.3788

StopLoss 1.3723
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Old Feb 3, 2016, 9:01pm   #7
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Exited 1.3785

+46 pips
hI piphoe

Sorry to have to say - your RR ratios are all out of sync and 1 loss with those size stops could take out 10 or 15 wins

46 pips win is great off a 5 or 10 or even 20 pips stop - but once you get your ratio wrong and use say 150 -200 pip stops - then start of a recipe for disaster.

Even if you do have a 80% win ratio - just a few losses in a row will ruin you capital balance

Many try this and survive 3 months or even 6 or 9 months - and then have the problem

Yes its possible to manage it etc - but like no stops at all - an eventual account killer - or you end up with just results of 10 -30% annual returns - which is then not very good at all on retail size capital accounts

I wish you luck - but I have seen it happen so many times - so worth giving a head's up etc

All the best

Regards


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Old Feb 3, 2016, 9:18pm   #8
 
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piphoe started this thread Ya I get what you are saying here. My stops are more like a "catastrophe" stop. Rarely do i get stopped out.

I usually close out a lot sooner, I don't know where price is taking me or what patterns will form down the road.

I don't know how anyone could look at a chart and say with confidence..."yep, right there"
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Old Feb 3, 2016, 9:28pm   #9
 
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piphoe started this thread i shorted me some EUROUSD

1.1104

Stop loss 1.1170
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Old Feb 3, 2016, 9:50pm   #10
 
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USDCAD

Bought 1.3788

StopLoss 1.3723

my target is 1.3805
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Old Feb 3, 2016, 10:21pm   #11
 
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piphoe started this thread i bought USDJPY

117.80

Stop Loss 117.04
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Old Feb 4, 2016, 3:46pm   #12
 
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USDCAD

Bought 1.3788

StopLoss 1.3723

Stopped out -65 pips
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Old Feb 4, 2016, 3:47pm   #13
 
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i shorted me some EUROUSD

1.1104

Stop loss 1.1170

Stopped out -66 pips
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Old Feb 4, 2016, 3:51pm   #14
 
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i bought USDJPY

117.80

Stop Loss 117.04

Stopped out -76 pips

Talk about a bloodbath..
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Old Feb 4, 2016, 3:55pm   #15
 
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piphoe started this thread I bought some USDCAD

1.3653

Stop 1.3581
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