K.I.S.S. Trading GBP/USD

Good Afternoon all of you profit procuring people.

I must admit I did arose from my slumber quite early after quite a heavy night, and after trying to dry hump my gf into action, after the 10th thrust, I was out of breathe, and quit trying. I reckon I could have brought the crack of dawn to life with my hip thrusts, but one should know when to cut ones losses and so I headed for the next best thing which to me is food. Breakfast was ate followed by a cigarette, and then to my work station.

The first trade I took, as seen below was a break of S&R levels, the trade failed, and I was out for -10.6 pips(-4%).

£ 2.6.15A.png

The second trade i took was failure of a double top, and although price went circa 6 pips in my direction, it then reversed, stopping me out for -5.6%(circa -2%).

£ 2.6.15B.png

The third trade below again was a break of S&R levels, and price capitulated around 30 pips in my direction however I assumed it would capitulate more, but it didn't. Price reversed, and stopped me out for -1.8 pips(-0.7%).

£ 2.6.15C.png

At this point it would be very easy to look at the substantial monetary loss, and go on tilt, however I am steadfast in my edge, and know there are still quite a few profitable trades left in the day to hit my daily target.

The next trade below was taken at the break news with a very tight stop. Price ascended in my direction, and I took profit at 34.7 pips(+13.8%)

£ 2.6.15D.png

The next trade below was adding another 2% position as price was ascending, and my stop from the previous trade was upped at +5 pips, so the worst case scenario was still very palatable. However price ascended further, and i closed this trade out for 25 pips(+10%)

£ 2.6.15E.png

Thus the total for today is +41.7 pips(circa +16%).

I believe the key factors to success are having a good understanding of your edge, having unwavering faith in your edge, and consistency.

Although today was a great, and profitable day, I was put through the emotional wringer in achieving my target, but sometimes tenacity is needed. Yes there was a part of me wanting to call it a day, but the other part over rode this with knowing a winning day is more than possible, and will be achieved.

Have a great day trading Y'all

Best
John.
 
What started off as a day of being put through the emotional wringer, has ended up being an absolutely amazing day, much better than I could have ever hoped for.

I took a few more trades, and the pip count is below.

£ 2.6.15 END OF DAY.png

Total for the day 73 pips(+29%).

I would love to post charts however I should have left the house 30 mins ago, but I ended up taking a few more trades.

Must dash, and if I'm back less inebriated than I should be, then I shall post the charts with the trades.

However, after such an amazing day, I think I've deserved a few more drinks.

Have an amazing day trading all.

Best
John.
 
I popped back home around 18.00 for an hour, and managed to take a quick scalp for an extra few pips. 4.7 pips may not sound like much, but it did add an extra 2% to my daily total.

View attachment 191122

Total for the day 56.4 pips(+22.5%).

Please excuse the lack of charts for the latter trades, but I have had an in, and out day today, alas one shall make more of an effort to get those posted in the future.

Feeling a little tipsy, so time for bed.

Best
John.



Just to clear up some confusion, are you saying a gain of 56.4 pips = a 22.5% gain in your account balance?
 
Total for the day 73 pips(+29%).

.

Again here, Does 73 pips = 29% of your account balance? Meaning that for every pip the market has moved, you either gain or lose roughly 2.51% of your account. Would that not mean that 40 pips against you would = wipeout?

At a 5 point stop that would mean 8 losing trades and you're out?
 
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Again here, Does 73 pips = 29% of your account balance? Meaning that for every pip the market has moved, you either gain or lose roughly 2.51% of your account. Would that not mean that 40 pips against you would = wipeout?

Whole account balance = 250 pips not 40 .
 
29% = 73 pips

1% = 2.5 pips


But your comparing two different factors there. The first is a percent increase on total balance. The second is a percentage of account risked per trade. One can't be used to work out the other.
 
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But your comparing two different factors there. The first is a percent increase on total balance. The second is a percentage of account risked per trade. Once can't be used to work out the other.

If 73 pips = 29% of the account then how 40 pips = 100% . I am not talking about risk per trade , 73 pips is only 29% of the whole account , with simple calculation the whole balance is 250 pips or 1% = 2.5 pips .
 
You said 1 pip = 2.51% , it is the other way round 1% = 2.51 pips .
 
Because if 73 pips is increasing your original account by 29%. Then 1 pip must be 2.5%
equity. (73/29 = 2.5%)

Therefore a movement of 2.5% of account per pip, would lead to a 100% loss in 40 pips (100/2.5 = 40)
 
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Because if 73 pips is increasing your original account by 29%. Then 1 pip must be 2.5%
equity. (73/29 = 2.5%)

Therefore at a moment of 2.5% of account per pip. would lead to a 100% loss in 40 pips (100/2.5 = 40)

:|
 
So 40 pips = 100% loss but

73 pips = 29% gain ?

Doesnt make sense mate , it is 73pips /29 % = 2.51 pips / 1%
 
So 40 pips = 100% loss but

73 pips = 29% gain ?

Yes that's why i'm questioning. For 73 pips to increase your account by 29%, each pip MUST increase your account by 2.5%

Do you see that at least.?
 
Yes that's why i'm questioning. For 73 pips to increase your account by 29%, each pip MUST increase your account by 2.5%

Do you see that at least.?


Think of it the other way - ie if each pip is worth 2 5% - then a 73 pip increase would be a 73 x 2,5% a 182.5% increase in the account

And therefore 1 pip is not 2 5% its 2,5 pips that is 1 % so then 73 pips is correct a 29% increase

Mr Fox is using a 4 -7 pip stop size with a 2% stake so it is approx 2.5 pip per 1 % approx

I don't think hes had more than 7 losses in a row - but if he had 10 consecutive losses then he's prepared to lose up to 20% of his account

If he has say 7 wins in a row ( normal for a good scalper ) and is RR's are over say 1.5 or 2 then he would on a 2% stake on 7 wins make anything from say 10 to 28% increase

The psyche test will be say 5 losses in a row one morning and down say 10% he will need maybe at least 3 wins to break even and more to make money

If he can handle this and know he could take up to 10+ trades in a day or his session - then in theory he should be OK

That's the theory but all depends on size of cash and your level of losing tolerance and having a method that means you have at least 5 -10 hrs available and can make up to 10+ trades in that period

Regards


F
 
Think of it the other way - ie if each pip is worth 2 5% - then a 73 pip increase would be a 73 x 2,5% a 182.5% increase in the account

And therefore 1 pip is not 2 5% its 2,5 pips that is 1 % so then 73 pips is correct a 29% increase




F


I'm not saying each pip is worth 2.5% universally. But in the example given. It is. SO we have to use the data provided (which is limited)
 
Sorry @mrfox I missed the part where you a attribute 2% risk to a 5 point stop, so 29% makes perfect sense now.

You can ignore me
 
However, my other question is this.. You made 73 pips, but that you did over 10 trades. So could it not be expressed that you risked 20% (each trade a 2% risk) of your capital to make 29% ?
 
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