50pips Daily Trading Signals

[50pips]

I don't really want to be taking any more trades until I can get a direction.

Again today its been mixed during London, up 1 minute down the next, prob the fact we have not had any high impact news release last 2 days for the GBP.

Anyway you can see my high/low 12pm/2pm range for cable. Its also stuck between CP & DR1 so I refuse to touch this or anything until USA direction has been established.

 

[50pips]

That's very kind of you 50pips and I look forward to that.

Question for your 12 - 2 breakout system. Is there a cut off time after which you wont enter the market if the price hasen't broken out of your range ? I'm thinking around 5.00 p.m. ish depending on market conditions ?

Thanks once again,


klw ............

Yeah I tend to have my cut off time around 4pm UK as you often get reversles towards London close. So if it doesn;t break by 4ish then I don't take any notice of it.

 

[50pips]

GBP/USD LONG @ 645

STOP LOSS @ 620

TARGET: Judgement call.

 

[maq]

I will post up some of the methods I use at the weekend. Once I have time to type up some detailed charts with the entry rules and so on. So you can see some of the stuff that I use.

I have 4-5 methods I use. Not all at once I need more monitors for that lol.

I currently have 4 monitors and I'm looking to get another 4.

I will try to post up 2 or 3 of the methods on Saturday.

i only have one monitor

 

[50pips]

I kind of made an impulsive entry on cable.

Rather than wait for a 15 minute candle to close above the high of the te 12/2 range.

Its, something I will have to decide how to approach now that I'am in this trade .


One should never break there own rules!

 

[50pips]

Stopped on on this trade for a truley stupid mistake on my part.

I clearly never waited for the close above the range and decided to enter purley on impluse.

I got taught a lesson on this, and one I deserved.

 

[50pips]

It been rathar hard the last 2 days in the market. I think everyone agrees that the market has been rather flat and rangy Monday and Tuesday so far.

Its clearly not the start would have hoped for on my journal. But I have no problems with publishing my daily results to the world.

As it stands I'am down about £1200 over the last 2 days which is a small fraction of my account. I have been in worse positions before. So that really doesn't affect me.

I'am starting to get a lot of hassle from members here for no reason. All I'm doing is publishing my trades as they happen and posting the reasons why I took them.

Are people finding this boring or usless. If so then I will leave in good will.

If not I will carry on. I have no problem with that unless I'm not wanted around here doing this.

But I do feel I need a little time.

 

[50pips]

My mistake.....

 

[50pips]

My mistake.....

A little more about this.............

Intra-trade management is my weak part of trading as I often let trades run in order to let them mature and breath to find the target I have set.

My entrys seem to be my strong side as like my large post yesterday stated I get 8-9/10 entrys correct. (not this afternoons cable trade )

What this means is that 80/90% of my trades do enter profit, it is my intra-trade management to decide when to exit that can be weak at times. This is something than I do and continue to work on with different trade management ideas.

Overall I'm still a profitable trader. But I could do even better if I can fully master my management of the trades when underway.

I will update on my progress.

 

[50pips]

This is how crazy it has been .....

Today stuck in another range and then out of the blue we get a 50 pip 15 minute candle.

 

[50pips]

Going for GOLD..........

GBP/USD LONG @ 650

STOP LOSS @ 625

TARGET : Judgment call...........

 

[50pips]

700 does look good.

 

[50pips]

Closed 70% at 685

 

[50pips]

Closed 70% at 685

Stop now @ 670 on remaining 30%

 

[50pips]

Closed final 30% @ 710

 

[50pips]

Really did not see that coming. Totally out of the blue there.

Anyone got any idea where that momentum came from ?

That was a good finish to a slow day. Total profit for the day 60 pips.

 

[50pips]

Cable Trade Chart..........

 

[50pips]

Just looking at cable. It pushed another 50 pips after my exit....

You can see how powerful this USA/GBP/USD breakout method is..

 

[CPU]

Really did not see that coming. Totally out of the blue there.

Anyone got any idea where that momentum came from ?

That was a good finish to a slow day. Total profit for the day 60 pips.

Fantastic - well done 50pips. Keep up the good work, I am really getting into this tread now. Thanks for all your hard work!! :clap:

 

[zupcon]

What this means is that 80/90% of my trades do enter profit, it is my intra-trade management to decide when to exit that can be weak at times.
.

And as I pointed out yesterday, greater than 83% of entries will exhibit a profit at some point, even with a completely random entry with a risk: reward ratio of 1:1. Give em room to breath and achieving 90% is a walk in the park

As you corectly say, its how you manage them that makes the difference

If your going to post charts, it probably helps if you dont use exactly the same examples you've used previously