A simple system -Dailys

[piphoe]

:clap:

Well, actually all trades won't be strict "dailys". Many will be intraday swings.

 

[piphoe]

USDCAD

Short 1.3831

StopLoss 1.4110

 

[piphoe]

USDCAD

Short 1.3831

StopLoss 1.4110

Exited 1.3785

+46 pips

 

[piphoe]

EUROUSD

Short 1.1148

StopLoss 1.2161

 

[piphoe]

EUROUSD

Short 1.1148

StopLoss 1.2161

Exited 1.1121

+27 pips

I can do this all day long.:innocent:

 

[piphoe]

USDCAD

Bought 1.3788

StopLoss 1.3723

 

[Forexmospherian]

Exited 1.3785

+46 pips

hI piphoe

Sorry to have to say - your RR ratios are all out of sync and 1 loss with those size stops could take out 10 or 15 wins

46 pips win is great off a 5 or 10 or even 20 pips stop - but once you get your ratio wrong and use say 150 -200 pip stops - then start of a recipe for disaster.

Even if you do have a 80% win ratio - just a few losses in a row will ruin you capital balance

Many try this and survive 3 months or even 6 or 9 months - and then have the problem

Yes its possible to manage it etc - but like no stops at all - an eventual account killer - or you end up with just results of 10 -30% annual returns - which is then not very good at all on retail size capital accounts

I wish you luck - but I have seen it happen so many times - so worth giving a head's up etc

All the best

Regards


F

 

[piphoe]

Ya I get what you are saying here. My stops are more like a "catastrophe" stop. Rarely do i get stopped out.

I usually close out a lot sooner, I don't know where price is taking me or what patterns will form down the road.

I don't know how anyone could look at a chart and say with confidence..."yep, right there"

 

[piphoe]

i shorted me some EUROUSD

1.1104

Stop loss 1.1170

 

[piphoe]

USDCAD

Bought 1.3788

StopLoss 1.3723

my target is 1.3805

 

[piphoe]

i bought USDJPY

117.80

Stop Loss 117.04

 

[piphoe]

USDCAD

Bought 1.3788

StopLoss 1.3723

Stopped out -65 pips

 

[piphoe]

i shorted me some EUROUSD

1.1104

Stop loss 1.1170

Stopped out -66 pips

 

[piphoe]

i bought USDJPY

117.80

Stop Loss 117.04

Stopped out -76 pips

Talk about a bloodbath..

 

[piphoe]

I bought some USDCAD

1.3653

Stop 1.3581

 

[piphoe]

Bought EUROUSD

1.1191

Stop 1.1109

 

[piphoe]

I bought some USDCAD

1.3653

Stop 1.3581

exited 1.3707 + 54 pips

I shorted 1.3709

Stop = 1.3761

 

[MajorMagnuM]

exited 1.3707 + 54 pips

I shorted 1.3709

Stop = 1.3761

that was a good trade, gr8 r/r and only too early to fault it. nice one

 

[piphoe]

Bought EUROUSD

1.1191

Stop 1.1109

stopped -82 pips

 

[piphoe]

that was a good trade, gr8 r/r and only too early to fault it. nice one

oh if I just hung on I'd be up a few hundred pips

I'm going to put this behind me and move on to next trade.