NEVER LOSE AGAIN!! TheRumpledOne
- Thread starter TheRumpledOne
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For the sake of arguments I'll call another short at 1.2599, I didn't actually take it because I was typing above...if we get 1.2599 again I will be adding to the already open half still running from 1.2624
Bunny
I'm bringing the stop down on the 1.2624 to 1.2628 for a max poss loss on that half of -4 because that would be the signal to go long and also the stop loss on a 1.2599 entry
Bunny
I'm bringing the stop down on the 1.2624 to 1.2628 for a max poss loss on that half of -4 because that would be the signal to go long and also the stop loss on a 1.2599 entry
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JTrader
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UKtradergirl
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If we get to the 1.2572 target, I will be closing the half running from 1.2624, and also closing half from 1.2599...the stop on that 2nd half will go to b/e at that point....I just thought I'd type this in advance whilst I had the chance.
Bunny
Bunny
I'm wondering whether I should leave this thread and start a trading journal, at least then I won't clutter up this thread with my ramblings, and if anyone thinks what I am doing is pointless or meaningless then you don't have to read my posts anymore. Thoughts anyone??
Bunny
Bunny
rags2riches
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Yes please start a journal, then you can explain in detail how you are trading if you wish.
UKtradergirl
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Although it is great to see someone's results here- you are not strictly following the rules to the letter. Which is also OK too- but for the purposes of this thread doesn't really show us if the strategy works or not.
Good luck anyway- you have obviously found a way to incorporate TRO's strategy into your own which is great.
ok, once these trades are closed I won't post any more here. I'll start a journal later today sometime...Wednesdays are swim with mum day so I'll be out for most of the afternoon
Bunny
UKtradergirl
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20 point stoploss- are you using this?
Trendlines- you mention trendlines previously but these are not part of the system
Moving stop to breakeven at 5 point profit- then trailing- are you doing this?
I think you also responded to some of the points i raised earlier as 'use your common sense'- when i was just suggesting following the rules- so-- i don't know what else you are or are not doing.
It would be great to get a proper backtest of this strategy done- over at least 500 or so trades to get a real idea of potential profits or losses.
The above parameters you mention were for you alone. I am using the original rules. below is the quote from TRO (page 45)
THESE ARE FOR UKTRADERGIRL ONLY!!
What other indicators? I stated that you do NOT need indicators.
One trade per hour? OK, only enter one trade per hour. Isn't that enough?
Profit? Stop Loss? Do this, SL=20. Once you're up 5 pips, move stop to break even. Once you're up 10 pips, uses a 5 pip trailing stop.
Markets are dynamic. You have to adapt. Every see THE MATRIX?
Price can either move UP or DOWN and PRICE WILL MOVE UP OR DOWN. By having FIXED entries and exits, we are taking advantage of the fact that PRICE MOVES.
Either you SEE this on the chart or you don't.
Look at the chart above. What is the SHORT ENTRY PRICE? What is the LONG ENTRY PRICE? You know EXACTLY what to do and when to do it AHEAD OF TIME. You will NOT win every battle, but you will win the war!
Bunny
p.s the only comment of yours that I responded to with "I'm using my coomon sense" was when you asked about an entry that was too far away (you quoted the 2nd line away from the open) which was already over the ATR.
p.p.s I'm not "doing anything else" how can I be? I'm simply taking the entries as they cross the line and putting in the inital stop, and then moving it when it cross the next line to lock in some profit. Also, I havn't avoided taking any trades for any made up reason, nor have I entered anywhere I wasn't supposed to....in other words I have not used any discretion in taking these trades. I may have used discretion in the exits..but that's another matter.
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The new hour opened at 1.2606, I am not adding any new trades until I start the journal. In the meantime I'm waiting for the open trades still running to either hit the stop or I take profit...either way I'll post it live here.
My apologies to TRO for leaving you to it, so far (and yes I know it's only day 3 for me) I like this method very much, but so much negativity wears me out and is not good for trading. What I like most is the fact that it controls over trading and knowing that once I'm out of a trade I don't have to come back to the computer until the next hour begins....if I was s scalper that would mean some hours only sitting here for a couple of minutes per hour! Maybe there is something in this scalping game after all Anyways, keep your chin up & don't let them grind you down...I'm a firm believer taking people as I find them, and for what I've learnt through what you've posted on this thread I've made a fair amount of pips, so thank you very much.
Bunny
My apologies to TRO for leaving you to it, so far (and yes I know it's only day 3 for me) I like this method very much, but so much negativity wears me out and is not good for trading. What I like most is the fact that it controls over trading and knowing that once I'm out of a trade I don't have to come back to the computer until the next hour begins....if I was s scalper that would mean some hours only sitting here for a couple of minutes per hour! Maybe there is something in this scalping game after all
Anyways, keep your chin up & don't let them grind you down...I'm a firm believer taking people as I find them, and for what I've learnt through what you've posted on this thread I've made a fair amount of pips, so thank you very much.Bunny
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The 1.2624 half that was left closed at 1.2628 for -4 (+5.5 net)....max possible profit before stop hit was 35 pips.
The 1.2599 short closed at 1.2628 for -29 max possible profit before stop was hit was 6 pips
running total for today...-23.9 pips
All positions closed
I hope this has been of benefit to some. Entries were as per the system, exits could have been handled differently. To be continued in the journal.....
Bunny
The 1.2599 short closed at 1.2628 for -29 max possible profit before stop was hit was 6 pips
running total for today...-23.9 pips
All positions closed
I hope this has been of benefit to some. Entries were as per the system, exits could have been handled differently. To be continued in the journal.....
Bunny
UKtradergirl
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That will be the problem then- you have different rules to me
Good luck
Good luck
That will be the problem then- you have different rules to me
Good luck
Actually it wouldn't have been a problem, because if you look back at the last few pages, I posted the drawdown before profit was taken, and the profit before any loss was taken, and in all trades you could have made a minimum of 6 pips before your stoploss of -20pips was hit.
Bunny
rols
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To be fair Bunny you are an experienced trader and you must be good by the very fact you are still in the game after 5 years. An inept or inexperienced trader could be given the moon on a stick and still lose.
I suspect you could turn a profit from a coin toss......
