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High Reward to Risk Trading

  • #281
  • May 23, 2016 4:44am May 23, 2016 4:44am
Quoting abokwaik
Playing with DAX this morning for the 1st time . Not bad
Looks like you scalped yourself some nice profits... good job!
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #282
  • May 23, 2016 4:44am May 23, 2016 4:44am
Quoting skyway
Demo trade this week to learn, TE created.
3rd attempt starting tokyo open today. Fine tune this week.
  • #283
  • May 23, 2016 5:32am May 23, 2016 5:32am
Quoting GPips
{quote} Looks like you scalped yourself some nice profits... good job!
Indeed.

I will need spend some time on it, preferably on demo, as today live trades were "beginners luck".
No guts, no glory
  • #284
  • May 23, 2016 5:35am May 23, 2016 5:35am
Quoting skyway
{quote} 3rd attempt starting tokyo open today. Fine tune this week.
Which TE skyway, I saw your TEs and all named ExpertAdvisor ?
No guts, no glory
  • #285
  • May 23, 2016 6:35am May 23, 2016 6:35am
I made a big mistake on gold using wrong position size which costed me all today's profit.
I really must stop trading using smart phone.
No guts, no glory
  • #286
  • May 23, 2016 7:10am May 23, 2016 7:10am
Quoting abokwaik
I made a big mistake on gold using wrong position size which costed me all today's profit. I really must stop trading using smart phone.
I know it can be a pain in the ass trading the MT4 app. I use to hate it. So I connected my phone to a VPS & this way I have access to my regular MT4 platform from my phone 24/7 including all custom indis, that you can not have in the app. I love the freedom & trade from it daily.

Here is a screen shot of what I see now from my Android phone ... I can change templates, profiles, indicators etc etc on the fly right from my phone.
Attached Image (click to enlarge)
Click to Enlarge Name: VPS Droid.png Size: 93 KB
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #287
  • May 23, 2016 12:05pm May 23, 2016 12:05pm
Quoting abokwaik
I made a big mistake on gold using wrong position size which costed me all today's profit. I really must stop trading using smart phone.
That mistake cost me 13% of account.However I managed to recover the loss from DAX which gained 18% on the first day. DAX was ideal today for top/bottom picking. Anyhow I finished the day in the green although it would have been much much more, including a DAX trade closed at BE after reaching 9%.
No guts, no glory
  • #288
  • May 24, 2016 5:20pm May 24, 2016 5:20pm
Attached Image (click to enlarge)
Click to Enlarge Name: Paid.png Size: 1.6 MB
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #289
  • May 25, 2016 8:43am May 25, 2016 8:43am
Hi there,

I've been beaten hard on DAX in the last 2 days.
Even this last assumed runner was stopped at BE.

Attached Image (click to enlarge)
Click to Enlarge Name: GER30M1.png Size: 50 KB


I've been so patient on profits, and most of them stopped at BE.
It would have been much better if I took profits at 2:1 RR.

Anyway, it was a good experiment for me.
Looking at the trades taken, most of them were impatient bad entries, so I need to work on that.
Once I reach something I will post it under trading systems.

Have a nice day,

Khalil
No guts, no glory
  • #290
  • May 25, 2016 8:54am May 25, 2016 8:54am
Quoting abokwaik
Hi there, I've been beaten hard on DAX in the last 2 days. Even this last assumed runner was stopped at BE. {image} I've been so patient on profits, and most of them stopped at BE. It would have been much better if I took profits at 2:1 RR. Anyway, it was a good experiment for me. Looking at the trades taken, most of them were impatient bad entries, so I need to work on that. Once I reach something I will post it under trading systems. Have a nice day, Khalil
Sir, I would suggest to remove the BE from equation. Loose it or win it.
Forex; the game of movements not the game of candles.
  • #291
  • May 25, 2016 9:07am May 25, 2016 9:07am
Quoting Sajid
{quote} Sir, I would suggest to remove the BE from equation. Loose it or win it.
It wouldn't make a difference as I was using small stop loss. So maybe I need to make SL a bit further.
Main problem in my opinion was the Entry Timing caused by wrong market reading.

So I am still a believer of High RR concept, but I need to find the best system that goes with that.
What I am thinking now, is the system should work on high time frame, perhaps Daily using low leverage, and try to catch daily swings.
No guts, no glory
  • #292
  • May 25, 2016 2:09pm May 25, 2016 2:09pm
Took a long position on NU Daily to attempt to close the Daily long LVC Target. I have since moved my stop to B/E + 3. Worse case scenario I get stopped out +3 & the Low LVC Target gets closed 1st or my Long LVC Target closes & I gain roughly 125 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: LVC Daily.png Size: 74 KB
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #293
  • May 25, 2016 3:11pm May 25, 2016 3:11pm
Quoting abokwaik
{quote} It wouldn't make a difference as I was using small stop loss. So maybe I need to make SL a bit further. Main problem in my opinion was the Entry Timing caused by wrong market reading. So I am still a believer of High RR concept, but I need to find the best system that goes with that. What I am thinking now, is the system should work on high time frame, perhaps Daily using low leverage, and try to catch daily swings.
Sir, Any suggestion from my side to you will be like showing candles to sun.

But there is no point in just assuming a High RR. Lets suppose someone trade with 1:100 . Would it make some sense? I think not. If setting a 20 times bigger TP sending me into lands where price will hardly go then i think is not right choice. As compare to this if i am getting a trade with 1:3 RR and my TP not laying in area of hard possibilities to be hit, then i will prefer it as compare to a 1:20 RR where my TP laying in areas where price will hardly go.

From a very experience trader, i learnt a general rule regarding SL and TP.
SL: Set SL in areas where market will need to make new highs or lows in order to hit your SL.
TP: Don't Set TP in area where you hope that market will make new lows or highs to hit your TP.
Forex; the game of movements not the game of candles.
  • #294
  • May 25, 2016 4:43pm May 25, 2016 4:43pm
Hi Khalil

Attached is a Velocity Meter Speed of Market indicator for MetaTrader 4
Maybe it will complement your Bull Bear indi?? Just a thought.

Info on it can be found here... http://www.icefx.eu/velocitymeter/
Attached File(s)
File Type: zip IceFX.VelocityMeter-v1.40.zip   41 KB | 604 downloads
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #295
  • May 27, 2016 8:41am May 27, 2016 8:41am
Going long NU here
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-05-27_093034 NU Long.png Size: 38 KB
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #296
  • May 27, 2016 2:01pm May 27, 2016 2:01pm
Quoting timos
Watch Usd/Jpy for shorts.It may give us lot of pips guys if confirmation for shorts appears {image}
Riding the longs till short signs appear.

Attached Image (click to enlarge)
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Short zone still remains the same.

Have a nice weekend bros
  • #297
  • May 27, 2016 4:08pm May 27, 2016 4:08pm
Quoting timos
{quote} Riding the longs till short signs appear. {image} Short zone still remains the same. Have a nice weekend bros
Nice finish to your week! You have a nice weekend to timos!
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #298
  • May 27, 2016 11:14pm May 27, 2016 11:14pm
Quoting abokwaik
{quote} Here. A modified version with No Future Candles. {file}
Hey ... does this indicator repaint? ''''once a candle closes with a UP arrow, if the previous candle closes going against it will the arrow disappear?

I know its a noob question but have read the entire forum and didnt find much info on it. TKS MATE IN ADVANCE!
  • #299
  • May 28, 2016 2:17am May 28, 2016 2:17am
Quoting allanpizzoni
{quote} Hey ... does this indicator repaint? ''''once a candle closes with a UP arrow, if the previous candle closes going against it will the arrow disappear? I know its a noob question but have read the entire forum and didnt find much info on it. TKS MATE IN ADVANCE!
No mate, it doesn't repaint.
No guts, no glory
  • #300
  • May 29, 2016 12:56am May 29, 2016 12:56am
Quoting abokwaik
{quote} No mate, it doesn't repaint.
Awesome....will test it out once market opens but it seems to be a great indicator for entry on the mean renko mate.....have u ever gave that a look?

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