CadCHF hit SL
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SMART PIPS - Daily Trade Signals
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I am still in DD on the following signals and have been trying to get out at BE but impossible when the trend is against me. The problem is holding the trade it goes further and further against me. On the EC I had opened the new signal levels but it put me into more draw down. I seem to be getting into trouble from opening at the Buy 1 & Sell 1 level I think. If I open Buy 2 and Sell 2 I might have been okay on them or able to get out at BE on the two being open. I think I must be doing something wrong. Any advice appreciated.
sell AUD/JPY 95.35 from 5 June trying to get out BE
sell Gold 1257 10 June trying to get out BE
sell EUR/CAD 0.8980 10 June still valid but trying to get out BE
sell EU 1.3570 10 June been trying to get out BE
sell CAD/CHF 0.8240 10 June still valid but trying to get out BE
Buy EUR/CAD 1.4770 10 June been trying to get out BE
Buy EUR/CAD 1.4735 11 June been trying to get out BE
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TRADE PLAN / MONEY MANAGEMENT / TRADING STYLE
Above all, first thing we need is " PATIENCE " and a best proven profitable trading strategy to be successful in FOREX markets.
1. 24 Pairs concentrated :
a. Eur / Usd Eur / Jpy
b. Gbp / Usd Gbp / Jpy,
c. Aud / Usd Aud / Jpy,
d. Nzd / Usd Nzd / Jpy,
e. Usd / Jpy Usd / Chf
f. Cad / Jpy Chf / Jpy
g. Eur / cad Cad / Chf
h. Eur / Nzd Eur / Aud
i. Aud / Chf Aud / Cad
j. Aud / Nzd Eur / Chf
k. Gbp / Aud Gbp / Chf
l. Gold Silver
2. Max open positions :
On each pair, only 2 or max 4 ( by dividing the investment ), not more than that.
3. Trades per Day :
Its NOT compulsory that we should trade everyday, As per our research, we can get the best entry levels as per the trend is upto 2 or max 3 signals per week on each pair. Even if we get only 1 signal per currency pair in a week, is also sufficient. TREND is your FRIEND, Trading as per the trend is always safe. Trading on RETRACEMENT is always risky.
4. Money management and the Returns on Investment :
This is the most important factor where many traders fail to organize themselves and blow out all their profits and investments. Please STRICTLY follow the rules of money management.
Example :
If an investor invests $10000 in his account, then
whenever we get the best entry level in any pair, then just use 0.1 lot size and take a trade on all the entry levels.
Risk : Max $90, Reward :Min $30, Max $90.
So considering all 24 currency pairs, if we get atleast 1 signal per pair, per week, and min of $30 (TP1) on each signal, You will be making $720 of profits per week. Above that is all your bonus.
If 3 signals hits the SL also, thn it will be around $450 per week.
Note : If the trade signal is open on the next day also, plz chk for the changes in the levels of that particular currency pair.
TRADING STYLE :
Well, Trading styles varies from each individual, Every trader, trades in his own style
TP levels are always measured from the first entry level
Generally all my signals will give 60 pips ( TP2 lvl ) On each pair , as per the trend, 2 entry points will be given along with the Stop loss. ( +/- 5 pips around the entry points is safe to trade )
1. TP 1 = 30 pips, TP 2 = 60 pips, TP3=90 pips ( From first entry level )
2. Take a trade on the 1st & 2nd entry points and set the SL and TP.
3. If Trend reversal occurs, ( 15 pips above/below the 2nd entry level is always a trend reversal ) then please EXIT from both the trades, when the average of both the trades are in minimum profits or at Break even or at min losses is also accepted.
When the price reaches TP1 level, its to the trader to decide on
a. Close all the position with profits
b. Move the SL to break even and allow the trade to hit TP2 or TP3
c. Book profits on half the volume and allow another half trade to hit TP2
Why retail Investor lose his money in Forex market ?
(1) He is among the last few people to enter into the Bull Run.
(2) He keeps on chasing a single currency pair
(3) Who never puts the Stop Loss in the System.
(4) Always in hurry to exit from the trade which are in Trend, with minimum profit.
(5) Don't have a Habit of trading by Robotics mechanism
(6) By doing the emotional Trading, Holding the positions in Loss and cutting down the positions early in profit
(7) Lack of home work before entering in a trade.
(8) Lack of resources about the movements and news which affects the Forex market.
(9) Too much greed from a single currency pair and lack of profit booking technique.
(10)Day dreaming in Forex market also makes him suffer huge losses.
(11 ) Never traded with the trend of the market.
(12) Was not able to stay away from the market when it is abnormal.
Thanks
Harsha K Guptha
harshakguptha@gmail.com
9844369071
Comment
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Originally posted by harsha View PostTRADE PLAN / MONEY MANAGEMENT / TRADING STYLE
Above all, first thing we need is " PATIENCE " and a best proven profitable trading strategy to be successful in FOREX markets.
1. 24 Pairs concentrated :
a. Eur / Usd Eur / Jpy
b. Gbp / Usd Gbp / Jpy,
c. Aud / Usd Aud / Jpy,
d. Nzd / Usd Nzd / Jpy,
e. Usd / Jpy Usd / Chf
f. Cad / Jpy Chf / Jpy
g. Eur / cad Cad / Chf
h. Eur / Nzd Eur / Aud
i. Aud / Chf Aud / Cad
j. Aud / Nzd Eur / Chf
k. Gbp / Aud Gbp / Chf
l. Gold Silver
2. Max open positions :
On each pair, only 2 or max 4 ( by dividing the investment ), not more than that.
3. Trades per Day :
Its NOT compulsory that we should trade everyday, As per our research, we can get the best entry levels as per the trend is upto 2 or max 3 signals per week on each pair. Even if we get only 1 signal per currency pair in a week, is also sufficient. TREND is your FRIEND, Trading as per the trend is always safe. Trading on RETRACEMENT is always risky.
4. Money management and the Returns on Investment :
This is the most important factor where many traders fail to organize themselves and blow out all their profits and investments. Please STRICTLY follow the rules of money management.
Example :
If an investor invests $10000 in his account, then
whenever we get the best entry level in any pair, then just use 0.1 lot size and take a trade on all the entry levels.
Risk : Max $90, Reward :Min $30, Max $90.
So considering all 24 currency pairs, if we get atleast 1 signal per pair, per week, and min of $30 (TP1) on each signal, You will be making $720 of profits per week. Above that is all your bonus.
If 3 signals hits the SL also, thn it will be around $450 per week.
Note : If the trade signal is open on the next day also, plz chk for the changes in the levels of that particular currency pair.
TRADING STYLE :
Well, Trading styles varies from each individual, Every trader, trades in his own style
TP levels are always measured from the first entry level
Generally all my signals will give 60 pips ( TP2 lvl ) On each pair , as per the trend, 2 entry points will be given along with the Stop loss. ( +/- 5 pips around the entry points is safe to trade )
1. TP 1 = 30 pips, TP 2 = 60 pips, TP3=90 pips ( From first entry level )
2. Take a trade on the 1st & 2nd entry points and set the SL and TP.
3. If Trend reversal occurs, ( 15 pips above/below the 2nd entry level is always a trend reversal ) then please EXIT from both the trades, when the average of both the trades are in minimum profits or at Break even or at min losses is also accepted.
When the price reaches TP1 level, its to the trader to decide on
a. Close all the position with profits
b. Move the SL to break even and allow the trade to hit TP2 or TP3
c. Book profits on half the volume and allow another half trade to hit TP2
Why retail Investor lose his money in Forex market ?
(1) He is among the last few people to enter into the Bull Run.
(2) He keeps on chasing a single currency pair
(3) Who never puts the Stop Loss in the System.
(4) Always in hurry to exit from the trade which are in Trend, with minimum profit.
(5) Don't have a Habit of trading by Robotics mechanism
(6) By doing the emotional Trading, Holding the positions in Loss and cutting down the positions early in profit
(7) Lack of home work before entering in a trade.
(8) Lack of resources about the movements and news which affects the Forex market.
(9) Too much greed from a single currency pair and lack of profit booking technique.
(10)Day dreaming in Forex market also makes him suffer huge losses.
(11 ) Never traded with the trend of the market.
(12) Was not able to stay away from the market when it is abnormal.
Thanks
Harsha K Guptha
harshakguptha@gmail.com
9844369071
Comment
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Originally posted by Khybee View PostJust got SL out of Gold - minus $302
but actually there was NO signal for gold today.
Signal for GOLD was on yesterday and
it has hit TP1 yesterday itself.
Why didnt u book profits in it ?
And the basic rule to follow is, whenever the price is nearing to TP1 level
PLEASE, PLEASE, PLEASE move the SL to break even
and it will be a very safe trading.
Harsha
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Khybee, you've mentioned being down $900 earlier and now a loss of $300. I obviously don't know what your equity is, but are you trading at 1 to 3 % of your equity? Those losses are quite large, but obviously not large at all if you are keeping your trades to a 1% or 3% potential loss. If you are losing like 10% or more in your basket of trades you're going to end up with grey hairs or losing your hair all together.
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Yes I am getting grey hairs since following these signals at the beginning of the week and just want to get out with something left in my account. I have $10,000 in the account and my lots were at 0.20 which I understand now is too big and should be half that - my bad as a newbie!
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Originally posted by harsha View PostConclusion for 11th June
Totally 16 signals
Gold - TP1 ($5)
Silver - trade open - Hold
Usd Chf - Trade open - Hold
Gbp Usd - missed the entry levels
Eur Jpy - Trade open - Hold
Aud Usd - TP1 (30 pips)
Aud Jpy - TP2 (60 pips)
Nzd Usd - TP1+ (30+ pips)
Nzd Jpy - TP2 ( 60 pips)
Cad Jpy - missed the entry levels
Chf Jpy - Trade open - Hold
Eur Cad - TP1 (30 pips)
Cad Chf - Trade open - Close at break even
Eur Nzd - TP1+ (30+ pips)
Aud Chf - TP1+ (30+ pips)
Aud Cad - TP2 (60 pips)
NZD USD How did it hit TP 1 - 30 pips? I was in the trade and it did not take 30 pips - if you look at charts you can see from entry at no time could it take 30 pips. I haven't checked the others yet but I'm starting to smell a rat. It looks like all the signals are against the trend.Last edited by Khybee; 06-12-2014, 04:19 PM.
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Khybee, NZD/USD did get 30 pips yesterday. It went down before it shot up. I closed mine at 20 pips profit as I was concerned with the RBNZ rate decision coming up. You need to manage the trades as you see fit and be aware of fundamentals that could change the trend direction in the short to medium term as happened with Kiwi yesterday. How long after Harsha posts the signals are you placing them? That could have an effect as well.
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Conclusion for 12th June
Totally 12 signals
Silver - Trade open - Hold
Usd Jpy - Trade open - Hold
Usd Chf - TP1 (30 pips)
Aud Usd - Trade open - Close at Break even
Nzd Usd - Trade open - Hold
Cad Jpy - missed the entry levels
Cad Chf - Trade open - Hold
Aud Chf - Trade open - Close at break even
Chf Jpy - Trade open - Hold
Gbp Usd - Break even
Aud Jpy - Trade open - Hold
Aud Cad - Trade open - Hold
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