SMART PIPS - Daily Trade Signals

[Revpanther]

thanks harsha/revP, fyi, i believe nick will prefer to see a larger amount than 2500 GBP on the line. i have suggested another trader to him in the past and though the guy was a good trader, Nick said that he did not trade a large enough account to consider using him on the site. just something to consider going forward.
ALSO, is RevP using a % risk per trade and an overall account risk. if so what are these two %'s? would they be adjustable by subscribers?
thanks, rfx

[Revpanther]

Revpanther,

May i know what lot size you will be using for your account size and what maximum number of trades to be openned in same time for overall , i know harsha has a limit of two trades per pair
i missed checking the pending orders on myfxbook

Hi Okda, based upon the current 2500 gbp account and a 1 to 2% risk per trade the lot size is between 0.07 to 0.14. I would say up to 15 trades could be opened and running together. I do tend to tighten stop losses as the trades gain pips.

[Okda]

May I know what will be the factor affecting the different lot size? I was expecting it to be a fixed lot for all trades

[Revpanther]

May I know what will be the factor affecting the different lot size? I was expecting it to be a fixed lot for all trades

The factor would be based upon the strength of the trend and dependant upon how many other positions are open or are looking likely to open.

However as this is a test account for everyone's benefit then I am open to whatever preferences each of you may have. As long as it is going to be profitable!

[Revpanther]

If anyone has Harsha's gbpjpy trade that opened earlier can either take 25 pips profit now or move SL to BE and let it ride. I traded it earlier on my main account and I'm letting it run but have moved my stop to BE.

[Okda]

I am very thankful for your answers, I am very interested in the signal that will be based on Harsha trades indeed that is why I am asking so much
Regarding the lot size, I would prefer it to be a fixed lot size for all trades, maybe the second trade can use a smaller lot or bigger
I am not forcing something, I am just suggesting, I guess you better decide before the next Monday so the history on myfxbook will be as clean as possible ( regarding pip to profit ratio)

[robertfx]

thanks, this all sounds good to me and i think it will take care of any objection nick might have to account size traded/skin in the game so to speak. from what i've seen so far, we may take the occasional full SL but that will be more than made up for by 1;1 & 2:1 RR winners and that is the name of the game. you can have a 50% win ratio and still make plenty of money with a 2:1 RR. as for risk per trade, i would like to be able to have the option to adjust that in my settings if that will be possible. that way i can limit potential total account risk to 10% total or whatever feels comfortable to me.
i wish you the best RP - can't wait to start watching results. rfx

[Revpanther]

I am very thankful for your answers, I am very interested in the signal that will be based on Harsha trades indeed that is why I am asking so much
Regarding the lot size, I would prefer it to be a fixed lot size for all trades, maybe the second trade can use a smaller lot or bigger
I am not forcing something, I am just suggesting, I guess you better decide before the next Monday so the history on myfxbook will be as clean as possible ( regarding pip to profit ratio)

Hi Okda, I wouldn't feel comfortable using a fixed lot size for all trades as it wouldn't be a true and accurate reflection of the risk reward. By using 2% risk on all the trades then I know exactly where I stand. For example if I had 5 losing trades on the trot I have lost less than 10% as follows based upon an account size of 10,000 USD:

Trade 1 loses 200 so balance is now 9,800. Initial lot size was 0.33 and took a 60 pip SL.

Trade 2. At 2% risk I am now risking 196 USD on this trade so lot size reduces accordingly and so on.

Conversely with profitable trades then lot size would increase accordingly. Leaving the profits in then unleashes the power of compounding onto our trading account.

[harsha]

Conclusion for 11th July
Totally - 7 signals
Usd Jpy - Missed the entry levels
Usd Chf - Missed the entry levels
Eur Usd - Missed the entry levels
Gbp Jpy - TP1 (30 pips)
Eur Jpy - Missed the entry levels
Aud Nzd - Close in profits & Re-Enter
Eur Chf - Close in profits & Re-Enter

[harsha]

Signals for 14th July

Usd Chf (a14)
Buy1 - 0.8905
Buy2 - 0.8880
SL - 0.8850

Gbp Usd (a14)
Buy1 - 1.7090
Buy2 - 1.7070
SL - 1.7040

Gbp Jpy (a2)
Buy1 - 173.25
Buy2 - 173.05
SL - 172.75

Gbp Chf (a124)
Buy1 - 1.5250
Buy2 - 1.5215
SL - 1.5190

Gbp Aud (a3)
Buy1 - 1.8175
Buy2 - 1.8130
SL - 1.8100

Cad Jpy (a235)
Buy1 - 94.30
Buy2 - 94.00
SL - 93.70

Eur Cad (a145)
Sell1 - 1.4630
Sell2 - 1.4660
SL - 1.4690

Cad Chf (a1245)
Buy1 - 0.8300
Buy2 - 0.8270
SL - 0.8240

Aud Cad (a145)
Sell1 - 1.0095
Sell2 - 1.0120
SL - 1.0150

Aud Nzd (a2)
Buy1 - 1.0635
Buy2 - 1.0615
SL - 1.0595

Eur Chf (a23)
Buy1 - 1.2135
Buy2 - 1.2100
SL - 1.2080

[harsha]

Eur Usd (a124)
Sell1 - 1.3645
Sell2 - 1.3675
SL - 1.3705

[armandrmorel]

Eur Usd (a124)
Sell1 - 1.3645
Sell2 - 1.3675
SL - 1.3705

Thanks for those and from what I can tell I only missed the eurocad this morning, right?

[Revpanther]

Thanks for those and from what I can tell I only missed the eurocad this morning, right?

Do you mean that you didn't enter euro cad?

[armandrmorel]

Do you mean that you didn't enter euro cad?

I think I missed that one yes, so did not enter. It hit tp too, right??

[Revpanther]

I think I missed that one yes, so did not enter. It hit tp too, right??

No it's still open from this morning