Is there a way or system or trading method which traders usually use to get just 10 Pips without having loss at all?
anyone can give me an idea how to do this........
anyone can give me an idea how to do this........
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DislikedIs there a way or system or trading method which traders usually use to get just 10 Pips without having loss at all?
anyone can give me an idea how to do this........Ignored
DislikedI used to do this on demo accounts when i first started. Works you just have to be patient I wouldn't do it live though unless you had steel balls.
Set a 10pip TP and 75pip SL. Risky but pepper a few of those in the direction of the trend and just leave them and hope for the best.
A bit like Russian roulette hence the I stopped doing it even on a demo to spare my nervesIgnored
DislikedI was trying to find the same? I didnīt.
Right now trying to trade 5min Intraday system by Phllip Neil.
http://www.forexfactory.com/showthread.php?t=11854
Good luck to all.Ignored
DislikedTargetting 10 pips will force your money management to indicate larger sized positions.
But if you are looking for a 2:1 ratio than your SL NEEDS to be a 5pips, or rather a 1:1 ratio, SL will be 10 pips, and small SLs like those will probably not allow enough space for you to negate from market nuances.
One way i can suggest for you to strategise a 10 pip play. Trade the trend retracements on 5 minutes using the 1hr for volatilty catch and try to avoid asian session as much as possible. For such small TPs, you are likely required to take small SLs or else system risk return will not be very attractive over the long run. The best vehicle for this type of scalping i would suggest is the EURUSD, while Sterling pairs might be very attractive to scalp, it might just whip you out senseless.Ignored
DislikedI hope you don't mind my adding to your post. Here is a method that I use live and have papered it since Feb using the gbp/usd, started going live 6-3-07. At 17:50 to 18:30 est I watch the 3 minute chart to hit a low then enter long with a tto of 12 pip profit and a 50 pip stop loss. (I know bad!! one loss takes five wins) but for june I had one trade carry over an extra day but no losses. Four days this month i chickened out of going live (tonight was one) but the other three still got the 12 pips if I would have went live. I go with 12 pip as it takes 2 pips to cover my broker and I wanted 10 simple pip a day. I paper 92 trades since 2-1-07 with 9 of them losses. It not much but something simple that I don't have to spend a lot of time on. When I was first trying different ways in jan. I would short sometimes and didn't do as well. If i have doubt i do not go live. Don't know it will work over a long trend down but its worked so far for me.Ignored
DislikedI was trying to find the same? I didnīt.
Right now trying to trade 5min Intraday system by Phllip Neil.
http://www.forexfactory.com/showthread.php?t=11854
Good luck to all.Ignored