Lets go PIP'IN

[Black Swan]

Checked it working fine!!

Thanks Kerry

Good God (or insert other chosen deity), is there no end to the legions of wanabees out there??? Can I just take you to task on a point you made up thread, this "if i make 150 pips on day one I'm out of the market for the rest of the week diatribe..." is bollox. Any strategy should be robust enough to hit the forex market anytime if the right set up is there.

You don't make 100 pips on Monday, then go and hide/do some knitting in a rocking chair and count your blessings, you continue to look for your set up throughout the week/month/year.

 

[forexkerry]

Good God (or insert other chosen deity), is there no end to the legions of wanabees out there??? Can I just take you to task on a point you made up thread, this "if i make 150 pips on day one I'm out of the market for the rest of the week diatribe..." is bollox. Any strategy should be robust enough to hit the forex market anytime if the right set up is there.

You don't make 100 pips on Monday, then go and hide/do some knitting in a rocking chair and count your blessings, you continue to look for your set up throughout the week/month/year.

Wow A Super trader... Have a great day and trade how ever you wish, sit your life away in front of your computer because you have absolutley nothing else to do with your life.

And you are correct "Any strategy should be robust enough to hit the forex market anytime if the right set up is there."
And I do anytime I want!!


Thanks for your Post
Kerry
Let's Go PIP'IN

 

[Black Swan]

Wow A Super trader... Have a great day and trade how ever you wish, sit your life away in front of your computer because you have absolutley nothing else to do with your life.

And you are correct "Any strategy should be robust enough to hit the forex market anytime if the right set up is there."
And I do anytime I want!!


Thanks for your Post
Kerry
Let's Go PIP'IN

So come on then Kerry, let's go Pimpin...what happens next, do you write another rivetting page on your blog?

 

[whitney Griggs Ralei]

What a delight to find this thread.

Thanks ! I have been trading forex for just over 2 years and still struggling... made a bunch lost a bunch... still learning, organizing, looking at my need to over-trade too often. SO following a thread like this is a neat gift. Looking forward to it.
Pipster in Ca. :clap:

 

[forexkerry]

So come on then Kerry, let's go Pimpin...what happens next, do you write another rivetting page on your blog?

Thanks for coming back Swan, Just think you keep reading you may learn something...
Have a great day and look forward to your next post that absolutely contributes nothing to Life, Lliberty or the Pursuit of happiness.

I know you will repond so thanks again...

Kerry

 

[forexkerry]

What a delight to find this thread.

Thanks ! I have been trading forex for just over 2 years and still struggling... made a bunch lost a bunch... still learning, organizing, looking at my need to over-trade too often. SO following a thread like this is a neat gift. Looking forward to it.
Pipster in Ca. :clap:

Pipsta,

Thanks for posting. Overtrading is the biggest mistake the majority of traders make. Pick your trades, look for the best opportunities, dont over analyze. Continue to watch and learn, stay positive and dont let the negative force you to do things you wouldn't do otherwise. As we continue to post I hope there is something you can learn to launch you to success..

Thanks again,
Kerry
Let's Go PIP'IN

 

[Black Swan]

Thanks for coming back Swan, Just think you keep reading you may learn something...
Have a great day and look forward to your next post that absolutely contributes nothing to Life, Lliberty or the Pursuit of happiness.

I know you will repond so thanks again...

Kerry

wtf only in the US of A....

 

[poborsky]

Let me take a minute to introduce myself. My name is Kerry and I trade full time, I am married and have two boys who both have very successful careers.

I have been trading off and on for approx 10 years and enjoy every minute of it. What I would like to share with this forum is the ups and downs where I have been and what I have found works for me. If I can help one person become successful that is my goal.

Please take this info and digest it; use it if it fits and toss it out if you don’t like it.

I will try and post daily a few things at a time which I hope will bring great success in your trading. I will keep it simple as I have found simple works best for me. I will try and answer your questions in the best way I can, just remember my trading style is simple my methods are simple so with that lets keep it simple.

Why do I trade Forex.
1. It gives me the opportunity to trade when ever I want. A 24 hour market with an opportunity to make some great money.
2. Trading Forex is not a get rich quick scheme. It takes great forethought, planning, and money management just like any business.
3. It allows anyone to use a simple methodology to make additional income, full time income or just a little extra weekend money.

I look forward to posting and sharing my strategies and hopefully great dialogue with other traders like myself.

Have a great Day and lets go PIP’IN

Kerry

Hi and welcome. Its nice to meet someone with a philanthropic attitude, willing to share their experience. I look forward with interest. Alan.

 

[megamuel]

So when does the trading talk start? Or did you make 100 pips on Monday this week so no trading for the rest of the week? Can we have the first gem of a strategy you wanted to share with us, or do we have to pay for that?

Sam.

 

[Black Swan]

So when does the trading talk start? Or did you make 100 pips on Monday this week so no trading for the rest of the week? Can we have the first gem of a strategy you wanted to share with us, or do we have to pay for that?

Sam.

Shame on you, don't listen to the heretic, cast out the disbeliever Kerry, step out of the trailer and let's go pimpin...

 

[megamuel]

Yeah come on Kerry lets go pimpin!!!!

 

[alan5616]

Typical S/L 50 PIPS

This is an average amount, there has been weeks where I only took one trade for 200 pips, all depends on the S/R Lines.

My weekly target is 100 - 150 pips per week, thats what allows me to make a living. If I make 150 pips on monday I will not trade the rest of the week. I belive in taking my profits to the bank.

You will find (of course no trader will admit it) the more someone trades the more they potentially lose. I take the highest probability trades that I can.. I may ony make 20 pips but my target is 50..

You cant predict the market just take a well educated guess!!

Thanks
Les's Go PIPIN

Kerry, I don't wish to denigrate your methodology but, surely, using a 50 pt S/L and a profit target of the same amount, or smaller, is failing to maximise profit potential.
Especially as you're making 3-5 trades a week, trading off a 4hr chart.

To me, trading is about maximising profitability. That is why I switched from the 4hr/1hr tfs to trade intra day off the 15 & 5 min charts. The same principles which you're adopting on a 4 hr chart, also, apply to the shorter tfs.

 

[Black Swan]

Kerry, I don't wish to denigrate your methodology but, surely, using a 50 pt S/L and a profit target of the same amount, or smaller, is failing to maximise profit potential.
Especially as you're making 3-5 trades a week, trading off a 4hr chart.

To me, trading is about maximising profitability. That is why I switched from the 4hr/1hr tfs to trade intra day off the 15 & 5 min charts. The same principles which you're adopting on a 4 hr chart, also, apply to the shorter tfs.

This bit kills it for me;

"You will find (of course no trader will admit it) the more someone trades the more they potentially lose.":cheesy:

Strange thing is the more I trade the more I potentially win.

 

[poborsky]

Sorry it took so long for a reply.
I trade the 4H to eliminate as much market noise as possible. It allows me to trade at a slower pace to evaluate the exact trade I want to take.

I will make my entries off of the 15 min and 5 min charts but allow my setups to generate on the 4H

Hope this answered your question!

Thanks
Kerry
Let's Go PIP'IN

This sounds like a great strategy Kerry. I cant wait to get started. Lets think positive and......
Keep on PIPÍN

 

[alan5616]

This sounds like a great strategy Kerry. I cant wait to get started. Lets think positive and......
Keep on PIPÍN

Any strategy that is prepared to risk 50 pts to make 50 or less pts is facing an uphill struggle. Most successful traders work on, at least, a 2:1 ratio of reward to risk and, frequently, 3+:1. If you think this is a sound strategy, may I, respectfully, suggest that you read books or articles that cover the mathematics of trading.

 

[poborsky]

Thanks Daniel,

1. Let me say my method allows no lagging indicators only support and resistance lines and trend lines.

2. I only trade 1 pair the Eur/USD.

3. I only trade the 4h TF.

4. I only take 2 or 3 trades a week. With a profit targe of 50 pips per trade.

5. I do not spend hours wating for trades I set my board up set a few alerts and wait..

Over the nexxt several days I will elaborate on each point,,

Thanks again

We are still eagerly awaiting your words of wisdom pipmaster.

 

[forexkerry]

So when does the trading talk start? Or did you make 100 pips on Monday this week so no trading for the rest of the week? Can we have the first gem of a strategy you wanted to share with us, or do we have to pay for that?

Sam.

Sorry Sam, Fortunately took time out for a vacation, I will be back in the states on the 22nd to continue my post... Have to get out with the family. I think one of the most important things we do is spend time with the ones we love..

Thanks again and look forward to posting..
Kerry

LET'S GO PIPP"IN

 

[forexkerry]

Any strategy that is prepared to risk 50 pts to make 50 or less pts is facing an uphill struggle. Most successful traders work on, at least, a 2:1 ratio of reward to risk and, frequently, 3+:1. If you think this is a sound strategy, may I, respectfully, suggest that you read books or articles that cover the mathematics of trading.

Thanks for your Post, I surly understand what you are saying, Let me give a quick example of a trade.. For one I don’t follow every book that is written, and I believe if you set yourself up on most trades at 2 :1 or 3:1 and let it go you will be stopped out more than not.. Let’s say you are in a trade for 20 pips, and the market is very volatile you’re only going to set a 10 pip S/L. No you probably won't set one but you will let the market breath so you can get your move..

Just last evening I opened a trade with a 50 pip S/L set up for 50 pips closed at 200 pips 5 positions for a 4:1 gain, you do have to manage your trades but you can’t squeeze to tight.

To close I thoroughly understand the mathematics of trading..

Thanks again!! Time to get back to the beach on vacation until the 22nd and wife is asking why I am blogging.. Have a blessed day.


Kerry
LET'S GO PIP'IN

 

[forexkerry]

We are still eagerly awaiting your words of wisdom pipmaster.

Poborsky,

Taking a little family time on the beach. Will be back in the states on the 22nd and get back to posting.. Until then!!

Thanks Kerry
LET'S GO PIP'IN

 

[alan5616]

Thanks for your Post , I surly undertsand what you are saying, Let me give a quick example of a trade.. For one I dont follow everybook that is written, and I belive if you set yourself up on most trades at 2 :1 or 3:1 and let it go you will be stoped out more than not.. Lets say you are in a trade for 20 pips, and the market is very volatile your only going to set a 10 pip S/L. No you probably won't set one but you will let the market breath so you can get your move..

Just last evening I opend a trade with a 50 pip S/L set up for 50 pips closed at 200 pips 5 positions for a 4:1 gain, You do have to manage your trades but you cant squeeze to tight.

To close I thoroughly understand the mathmatics of trading..

Thanks again!! time to get back to the beach on vacation until the 22nd and wife is asking why I am blogging.. Have a blessed day.

Kerry
LET'S GO PIP'IN

I hope you're better at trading than you are at spelling