Hi F,
I may be getting more pips than you some days but I think it is down to my exceptionally long days at the screens and I note that you have been absent quite a bit lately during many hours.
I also have many trades now and catching up in practice and that helps a lot. The TW time rules and all other aspects are second nature now, whereas in the past I would need to check off each part to see where it ranks as a candidate.
lastly I have been looking at trades where I can, with reasonable certainty, load on on lot size a bit more. In the attached chart is a good example and there are very many each day like this. This is where the medium and longer lr's are nearly flat and any move to either side has the ability to bring the longer ones with it and providing a good bit of support to keep the move going. These trades can have a larger number of pips and generally you are looking at 25+ and can be 50+ easily. The risk reward on these is worth the extra lot size and when I exit at the first pullback I still have a lot of pips to play with for the partials and can get some nice money. I care less about pips than the cash and these set ups add quickly to the bottom line.
The above scenario is a good example of what you and NVP said recently about counter trend trades. If you are not 100% proficient then wait for these types of entries and there are many in a day. For the people who cannot get so many hours in then no trade is an option too sometimes as the market will be there tomorrow. Having some patience and catching some good trades is really a good and ironically fast way to grow your account size. Even if 18 pips represents 1% of your account size and you have a few days of 200+ pips then you can see that 100% months are possible and I am sure we would all accept 50% at the start of the month.
I am now officially over 50% on FX and will likely never go under 50% again. More trades, more pairs and longer intraday moves.
Thanks again F.
I may be getting more pips than you some days but I think it is down to my exceptionally long days at the screens and I note that you have been absent quite a bit lately during many hours.
I also have many trades now and catching up in practice and that helps a lot. The TW time rules and all other aspects are second nature now, whereas in the past I would need to check off each part to see where it ranks as a candidate.
lastly I have been looking at trades where I can, with reasonable certainty, load on on lot size a bit more. In the attached chart is a good example and there are very many each day like this. This is where the medium and longer lr's are nearly flat and any move to either side has the ability to bring the longer ones with it and providing a good bit of support to keep the move going. These trades can have a larger number of pips and generally you are looking at 25+ and can be 50+ easily. The risk reward on these is worth the extra lot size and when I exit at the first pullback I still have a lot of pips to play with for the partials and can get some nice money. I care less about pips than the cash and these set ups add quickly to the bottom line.
The above scenario is a good example of what you and NVP said recently about counter trend trades. If you are not 100% proficient then wait for these types of entries and there are many in a day. For the people who cannot get so many hours in then no trade is an option too sometimes as the market will be there tomorrow. Having some patience and catching some good trades is really a good and ironically fast way to grow your account size. Even if 18 pips represents 1% of your account size and you have a few days of 200+ pips then you can see that 100% months are possible and I am sure we would all accept 50% at the start of the month.
I am now officially over 50% on FX and will likely never go under 50% again. More trades, more pairs and longer intraday moves.
Thanks again F.
