Best Thread GBP/USD Breakout

[ez0770]

Your idea of a decent account size and my idea might be totally different !! But yes you could start with a small amount but have to be very careful. I don't know your trading experience.

Always have to be careful but your risk, assuming no slippage, is pre-defined by your S/L level on every trade isn't it?

Let's say you start off with 10k and risk 3% per trade with 80% success, over 1y = 250 days your trading account will grow to ~ 3.5 mio...that's pretty decent wouldn't you say?

 

[Shikamaroo]

Always have to be careful but your risk, assuming no slippage, is pre-defined by your S/L level on every trade isn't it?

Let's say you start off with 10k and risk 3% per trade with 80% success, over 1y = 250 days your trading account will grow to ~ 3.5 mio...that's pretty decent wouldn't you say?

3.5 mio???
u might get on the banks bad side and they'll send someone to "take u out"
not ice cream and cookies you understand:whistling

 

[Claudia123]

3.5 mio???
u might get on the banks bad side and they'll send someone to "take u out"
not ice cream and cookies you understand:whistling

lol u certainly be on 'refer to dealer' very quick. Slippage might kick when you SB 10k a point - might be some slow fills.

 

[Claudia123]

Always have to be careful but your risk, assuming no slippage, is pre-defined by your S/L level on every trade isn't it?

Let's say you start off with 10k and risk 3% per trade with 80% success, over 1y = 250 days your trading account will grow to ~ 3.5 mio...that's pretty decent wouldn't you say?

Started December with a touch more than 10k and 100% so far. What does that give me by Xmas??

 

[HawkTrader]

Started December with a touch more than 10k and 100% so far. What does that give me by Xmas??

Wait what?! 100% equity gain since December?!

 

[ez0770]

Started December with a touch more than 10k and 100% so far. What does that give me by Xmas??

So you doubled up your starting capital in a year (you should have done much better but I'm assuming you spent some of your profits?) . Assume 10 trading days til Xmas and that you risk 3% on 20k as of tomorrow, you should come up with 5k + change....7k if you are willing to put 5% of your capital on the line per trade

 

[FormulaOneFan]

Hello Claudia, What do you usually do when the 6am candle is this long? Ignore it or consider it?

 

[Claudia123]

Ignore it. I shorted at 86 but not too confident!

 

[wil68]

Personally, I don't try and second guess the market anymore. I have my strategy and my levels, if the level gets broken I take the trade. If you have trading rules, I feel it's important to stick with them. Using this simple breakouit strategy seems to work; if you start to filter out some trades, you're sure to leave in the loser and take out the winner.

 

[HawkTrader]

I'm with you there Claudia. :|

Well, it's not going up, is it? I'm just afriad it might go into chop mode.

 

[FormulaOneFan]

Got my 20 pips. yipee!!!

 

[HawkTrader]

Got my 20 pips! I bet it drops another 200 now!

 

[wil68]

Going in at 86 will have got you your 20+ already, another nice morning for you.........

 

[Claudia123]

U sure? I just closed + 26. Wil is absolutely right you cant filter you have to trade the signals.

 

[FormulaOneFan]

Got my 20 pips! I bet it drops another 200 now!

lol. It might but I doubled my pounds per pip today so not going to care. got my target 20 pips...that's all we need

 

[wil68]

Can I ask what made you get in at 86, my level was lower than that?

 

[Claudia123]

88.8 was mid price close on IG 6 am bar

 

[HawkTrader]

U sure? I just closed + 26. Wil is absolutely right you cant filter you have to trade the signals.

My goodness. You got out at 360? Pip for pip at the bottom of that down thrust!! How did you know?

 

[romzilla]

What levels did you have? 6am candle broke down from the others.

 

[Claudia123]

My goodness. You got out at 360? Pip for pip at the bottom of that down thrust!! How did you know?

361.7 by luck lol netted 24.7. (Figures wrong above). Thanks IG