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- MillerHighLife replied Feb 27, 2007
This week, I think, is a good example of how the daily and the weekly can work well together. I took 100 pips of profit last night on the Daily, only to wake up and find my Weekly trade was up 300+! It would be nice had I used a larger TP on my ...
- MillerHighLife replied Feb 27, 2007
As always, I'll be eager to hear what you have to say, tk. I'm up 455 on the GBPJPY for the week so far!
- MillerHighLife replied Feb 23, 2007
I think I'm the only trader out there than managed to not make any profit on the GBPJPY this week. Seemed every stop I placed got hit, and I made the mistake of moving my trailing stop up too high early in the week. Had I moved it to just BE ...
- MillerHighLife replied Feb 14, 2007
From a money management standpoint, here's an example of how $250 would be traded if you assume a risk of 2% on every trade: $250 starting balance * 0.02 = $5 If you use a 50 pip SAR, you would need to trade in lots that make 1 PIP = $0.10. On the ...
- MillerHighLife replied Feb 14, 2007
Ah...multiple pairs. Are you having any difficulty managing all those different currencies?
- MillerHighLife replied Feb 14, 2007
400!?! Where'd you squeeze 400 pips out in one night?
- MillerHighLife replied Feb 14, 2007
I try to enter them as close to 2400 GMT as possible, which I believe is 7:00pm EST. I think that particular trade, I entered around 8:30-9:00. I wish there was a way to avoid slippage, but I guess "slip" happens. The only way to avoid it is to be ...
- MillerHighLife replied Feb 13, 2007
I ran into some major pip slippage last night on Oanda on the GBP/JPY at around 4:15am EST. What about y'all? I had a SL blown right through...should've stopped me out at 50, but instead ended up being close to 100! Anybody else run into this issue?
- MillerHighLife replied Feb 8, 2007
I'm trading one lot on the Daily system, and one on the weekly. I'm not trading multiple lots at multiple TP levels like other posters.
- MillerHighLife replied Feb 8, 2007
I've been using a 100-TP on my Daily method trades on the GBP/JPY and have been having a great week so far. I'm up 393 through this afternoon. The Weekly on the same currency was up as much as 200+ last night, and then fell like crazy, and at the ...
- MillerHighLife replied Feb 6, 2007
I've been using a 100-pip TP on my daily trades this week and things have gone quite well. I've already had two 100+ pip trades closed out, with only one stopout so far (this morning). I'm up about 180pips for the week, and it's only Tuesday!
- MillerHighLife replied Feb 6, 2007
Honda, I tried that last week. The thing I discovered is that it's great for minimizing losses, but you really have to stay on top of your account, otherwise you'll miss your re-entry points pretty easily. I went back and looked and determined that ...
- MillerHighLife replied Feb 5, 2007
UT: Sounds like the Daily scalping method is right up your alley.
- MillerHighLife replied Feb 5, 2007
Honda: How often do you update your signline totals? I think that's awesome, and congratulations on your success so far. Question, though: What are your money management rules like? How much are you risking per trade?
- MillerHighLife replied Feb 5, 2007
I went ahead and closed my Daily trade for a cool 130 pip profit on the GBP/JPY this morning. I wasnt able to enter my Weekly trade until this morning (was away from the comp for the Super Bowl), but it is running at +31 for the moment. I have a ...
- MillerHighLife replied Feb 2, 2007
I hate to hear that Oanda was giving some traders fits like that. It's the only platform I can run here at work on my Mac, which would allow me to keep tabs and update my trades throughout the week. I bailed on the weekly trading Wednesday evening ...
- MillerHighLife replied Feb 1, 2007
As Lloyd Bridges might say, I picked a bad week to try trading the GBP/JPY. This week has been a real test of trading discipline, and I've still got a lot to learn.
- MillerHighLife replied Jan 30, 2007
TP = Take Profit. SL = Stop Loss. TP closes out a trade when you reach a specified level of profit, and a SL closes a trade when a certain level of loss is reached to prevent any further losses.
- MillerHighLife replied Jan 30, 2007
I use a TP on the daily system of 60 pips for the GBP/JPY on my initial entry. I was able to capture 60 pips last night doing so. If that's stopped out, I tack the 40 pips I lost onto that for an even 100 TP on the next trade. The odds of that being ...
- MillerHighLife replied Jan 30, 2007
So if I understand you correctly, you do re-enter all three lots heading the other direction when it reaches that point. For example: Let's suppose you've been in a long trade at 1.9325. It's now trading at 1.9450, so you've hit your 50 TP, you've ...