50pips Daily Trading Signals

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I don't really want to be taking any more trades until I can get a direction.

Again today its been mixed during London, up 1 minute down the next, prob the fact we have not had any high impact news release last 2 days for the GBP.

Anyway you can see my high/low 12pm/2pm range for cable. Its also stuck between CP & DR1 so I refuse to touch this or anything until USA direction has been established.
 

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That's very kind of you 50pips and I look forward to that.

Question for your 12 - 2 breakout system. Is there a cut off time after which you wont enter the market if the price hasen't broken out of your range ? I'm thinking around 5.00 p.m. ish depending on market conditions ?

Thanks once again,


klw ............


Yeah I tend to have my cut off time around 4pm UK as you often get reversles towards London close. So if it doesn;t break by 4ish then I don't take any notice of it.
 
GBP/USD LONG @ 645

STOP LOSS @ 620

TARGET: Judgement call.
 

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I will post up some of the methods I use at the weekend. Once I have time to type up some detailed charts with the entry rules and so on. So you can see some of the stuff that I use.

I have 4-5 methods I use. Not all at once I need more monitors for that lol.

I currently have 4 monitors and I'm looking to get another 4.

I will try to post up 2 or 3 of the methods on Saturday.

i only have one monitor:(
 
I kind of made an impulsive entry on cable.

Rather than wait for a 15 minute candle to close above the high of the te 12/2 range.

Its, something I will have to decide how to approach now that I'am in this trade .


One should never break there own rules!
 
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Stopped on on this trade for a truley stupid mistake on my part.

I clearly never waited for the close above the range and decided to enter purley on impluse.

I got taught a lesson on this, and one I deserved.
 
It been rathar hard the last 2 days in the market. I think everyone agrees that the market has been rather flat and rangy Monday and Tuesday so far.

Its clearly not the start would have hoped for on my journal. But I have no problems with publishing my daily results to the world.

As it stands I'am down about £1200 over the last 2 days which is a small fraction of my account. I have been in worse positions before. So that really doesn't affect me.

I'am starting to get a lot of hassle from members here for no reason. All I'm doing is publishing my trades as they happen and posting the reasons why I took them.

Are people finding this boring or usless. If so then I will leave in good will.

If not I will carry on. I have no problem with that unless I'm not wanted around here doing this.

But I do feel I need a little time.
 
My mistake.....


A little more about this.............

Intra-trade management is my weak part of trading as I often let trades run in order to let them mature and breath to find the target I have set.

My entrys seem to be my strong side as like my large post yesterday stated I get 8-9/10 entrys correct. (not this afternoons cable trade ;) )

What this means is that 80/90% of my trades do enter profit, it is my intra-trade management to decide when to exit that can be weak at times. This is something than I do and continue to work on with different trade management ideas.

Overall I'm still a profitable trader. But I could do even better if I can fully master my management of the trades when underway.

I will update on my progress.
 
This is how crazy it has been .....

Today stuck in another range and then out of the blue we get a 50 pip 15 minute candle.

:rolleyes:
 

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Going for GOLD..........

GBP/USD LONG @ 650

STOP LOSS @ 625

TARGET : Judgment call........
...
 
Really did not see that coming. Totally out of the blue there.

Anyone got any idea where that momentum came from ?

That was a good finish to a slow day. Total profit for the day 60 pips.
 
Just looking at cable. It pushed another 50 pips after my exit....:(

You can see how powerful this USA/GBP/USD breakout method is..
 
Really did not see that coming. Totally out of the blue there.

Anyone got any idea where that momentum came from ?

That was a good finish to a slow day. Total profit for the day 60 pips.

Fantastic - well done 50pips. Keep up the good work, I am really getting into this tread now. Thanks for all your hard work!! :clap:
 
What this means is that 80/90% of my trades do enter profit, it is my intra-trade management to decide when to exit that can be weak at times.
.

And as I pointed out yesterday, greater than 83% of entries will exhibit a profit at some point, even with a completely random entry with a risk: reward ratio of 1:1. Give em room to breath and achieving 90% is a walk in the park

As you corectly say, its how you manage them that makes the difference :)

If your going to post charts, it probably helps if you dont use exactly the same examples you've used previously :LOL:
 
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