ForexMorningTrade System

[Jashfx]

BE it is

 

[Adamus]

Wow GBP shot up against the yen. Fortunately the USD has got some strength this morning. And it hammered the EUR/GBP.

Guess that was the PPI effect.

Interesting stuff. So we'll have to wait a bit longer to see which is strongest of them all - hopefully USD.

 

[Icepop]

I am with Alpari Uk and went short with a 30 TP and a 40 SL. The entry price was the correct EA price. As I am at work now .... Does anybody know what the result of my trade was likely to be ? Thank you x

 

[wiseambitions]

I am with Alpari Uk and went short with a 30 TP and a 40 SL. The entry price was the correct EA price. As I am at work now .... Does anybody know what the result of my trade was likely to be ? Thank you x

Price keeps edging about 1.5860, so you are near the stop but it has held at his level 15 minutes and could run out of steam and fall back again?

Those who set to BE got knocked out about 10 am when it dipped to 1.5610 momentarily and then retraced to above entry

good luck!

 

[Jashfx]

I am with Alpari Uk and went short with a 30 TP and a 40 SL. The entry price was the correct EA price. As I am at work now .... Does anybody know what the result of my trade was likely to be ? Thank you x

Likely to have been B/E. If you dont have the B/E set up then you will still be in trade and market is about 10-15 pips from stop loss.

 

[Icepop]

Thank you .... Glad I am not watching it now !!

 

[wiseambitions]

Likely to have been B/E. If you dont have the B/E set up then you will still be in trade and market is about 10-15 pips from stop loss.

If it makes you feel any better the price just dropped 15
you might be able to get current data from another site - example forexpros.com not as up to date as real time but good enough

 

[Antomi]

I am with Alpari Uk and went short with a 30 TP and a 40 SL. The entry price was the correct EA price. As I am at work now .... Does anybody know what the result of my trade was likely to be ? Thank you x

Hi Icepop,

For you and others who can not follow the trades directly there is an easy way to follow it anyhow.
Go to www.mt4i.com, go to MTI Live and set up a free account and follow the instructions. If you need help you can contact me also.
You can log in from any computer to your account (password protected), see your live trades and make a lot of analysis.
Hope that helps.

Cheers

Antomi

 

[Jashfx]

Price keeps edging about 1.5860, so you are near the stop but it has held at his level 15 minutes and could run out of steam and fall back again?

Those who set to BE got knocked out about 10 am when it dipped to 1.5610 momentarily and then retraced to above entry

good luck!

Following on from our last conversation RE: your 11 trades that hit TP and not BE on the dates given to me, I have decided to forward test a scenario that could (based on your findings) prove good.

As we know i suggested to try out a dff money management option but this defiantely was not a good idea when looking back. Of those 11 trades, 7 were winners and 4 losers giving you an edge in pips gained which creates the debate about resetting to B/E and whether or not its more prfitable to do so.

Now of those 7 winners, 4 definately (could of been 5 as one was litterally on the cusp but lets leave it at 4) retraced 20 pips, the other 3 did not.

So using a combination of the BE rule and letting the trade run its course without resetting:
1)reset it to B/E after 20 pips.
2)If and only if we are in a B/E situation, we set a pending order 20 pips above B/E (assuming we in a sell). and keep same TP and same stop. Now we are risking 20 pips and going after 55.

From above examples, 4 would of lost (-80 pips)
and 4 would of won (220 pips).

that is +140 pips for this example. What it means also is that even if it works 33% or the time you are still ahead 15 pips.

PS- I am currently back in the trade (entered at 1.58541) with same original TP 1.5799.

Its a numbers game -- if the numbers add up then why not.

 

[tonygraham]

Hi can anyone tell me if i should be using a spread betting account or cfd and what the diff is between the two....i am currently with smart live markets thanks..

 

[GumRai]

Hi can anyone tell me if i should be using a spread betting account or cfd and what the diff is between the two....i am currently with smart live markets thanks..

It doesn't make any difference which you use, the market prices are more or less the same. It's just a lot easier to work out the risk per pip with a SB account. I Trade this with Smart Live Markets SB account.
Mind you, I didn't trade today as the signal was too borderline.

 

[tonygraham]

It doesn't make any difference which you use, the market prices are more or less the same. It's just a lot easier to work out the risk per pip with a SB account. I Trade this with Smart Live Markets SB account.
Mind you, I didn't trade today as the signal was too borderline.

Thanks for that...that helps a lot as i am using a cfd account and do find it confusing to work out pips and point amounts....think i will give them a call and change to sb.

 

[wiseambitions]

If you're in the UK, (I'm not an international financial adviser), there are tax concessions for Spread Betting. CFDs could render you liable to Capital Gains Tax if you exceed your annual threshold (by being a member of FMT!), or even to Income Tax if it is purported to be your main earnings. Spread Betting is what it says (betting!) and UK tax man daren't tax it, else he'd probably be asked to offset everyone's losses on the horses against their employment earnings. That's how I see it in a nutshell.
I tend to use CFDs because I don't bet (or do I?)

 

[GumRai]

If you're in the UK, (I'm not an international financial adviser), there are tax concessions for Spread Betting. CFDs could render you liable to Capital Gains Tax if you exceed your annual threshold (by being a member of FMT!), or even to Income Tax if it is purported to be your main earnings. Spread Betting is what it says (betting!) and UK tax man daren't tax it, else he'd probably be asked to offset everyone's losses on the horses against their employment earnings. That's how I see it in a nutshell.
I tend to use CFDs because I don't bet (or do I?)

Good post and I like your Humour :cheesy:

 

[tonygraham]

Yes indeed, thanks!! ok i have now got a sb account opened with slm but still dont see an easy way to work out how much per pip i am going to bet for example £1 per pip or £.50p per pip.....what is the easiest way to input this when placing a trade??

 

[hammy66]

FMT for me today:

6:00 start, BE+5 pips
6:15 start, BE+5 pips
6:30 start, BE+5 pips
6:45 start, BE+5 pips

for today +20 pips
for the week +86 pips

cheers !

 

[tkbieber]

I hate waking up in the morning and I still have running trades. Enough of the drama !! Maybe the news at 8:30 eastern will kick it up or down. I hope down!!

 

[GumRai]

Yes indeed, thanks!! ok i have now got a sb account opened with slm but still dont see an easy way to work out how much per pip i am going to bet for example £1 per pip or £.50p per pip.....what is the easiest way to input this when placing a trade??

For 1 Pound per pip, it's 1 lot so 50 pence per pip is 0.5 lot.
Practice a few trades with a demo account

 

[wiseambitions]

Seems like the satan of forex arranged a horrible little spike to knock out everybody who had entered at 06.30 with 40SL who hadn't reset to B/E (me and TKB???), and I have little doubt it will now go back down, especially to annoy me.

 

[tonygraham]

For 1 Pound per pip, it's 1 lot so 50 pence per pip is 0.5 lot.
Practice a few trades with a demo account

Thanks..just had a couple of trades and now got it working right....