My Gbp/Jpy semi-scalp trade

[Casal]

My first thread n Likely be my only thread, just to keep myself on the line n Watch my performance in the end of the week...
Concerning my system, its a derivation in the trend follower system (the Prom thread), its got All the system except macd and cross indior, and its about the 1m Interval ( very much similar to rainbow system of linuxtroll's ), I Commerce only gbp/jpy, the reason is my comfortability with it Likely from watching the s thread...
my entries:
after a trend is established, I determine the pullback from laguerre and price action, and Then enter when laguerre crosses one of its line (0.15 for buy, 0.75 for sell)
stop loss:
Such as the trend follower, I Maintain the stoploss in the Bottom point from Previous 5-10 mins
Make profit: nearest resistance (pivot points hourly n daily) whichever is earlier, or any sign of reversal, depending on price action n laguerre

thats about it, I take 2-3 trades Every Day, I Commerce on a full time basis and rarely trade during us market (rather play ps2 in nite ), planning to Perform this Evaluation till december end, oh yeah I Commerce 1 mini lot until then

[Casal]

My analysis at the second shows an upward trend is because (again), im going to wait for the current short-term downtrend to shift upward (breaking of rainbow) and go long in the earliest retracement...

[Casal]

thanks barak
now was my very first trade, not very fantastic trade, I put a 15pips trailin rather than a tp, couldnt find a close support to set my tp,n I had to move out for few mins...
I connected a chart with this trade...
S 227.47, C 227.16 31
u may see in my chart a downtrend is beginning to form, n a pullback was happening, indied with laguerre... the price went to as low as 226.70 but my trailing got hit in a minor pullback

[Casal]

k now another commerce worth 100 pips longer went for 5 pips cos of this trailin stop... I need to modify the tracking egy... possibly alter it to quarter of the profit worth, will try that on second commerce... or take another commerce once the stop is hit...

[Casal]

Some points which need to be mentioned
- I believe every tfs act under same characteristic, the behaviour on 1m tf may be found on 4h tf, u can even use fibs on 1m and gets precise results
- only thing u need to correct ur tp along with sl when u shift timeframes, larger tf needs larger tp n sl
- thats why when u might risk only 2% of ur account to comply a solid MM, u shift ur tfs till its acceptable with ur risk
- to me personally, 1m timeframe enables me to keep very low sl, something like 5 - 12 pips without spread
- its very important to keep a stoploss which u can manage mentally (ie. When u lose a trade, u wont change to vodka immediately )
- I supported my analysis with spuds concept of stochastic

[Oclimomli]

Hey Maheswala

Well done on your first two or three trades and decent luck on the rest of your test.

Just a thought on your risk comment. If you want to exchange a lager tf then why not just make your position size bigger.

eg. Say you need to risk $100 per commerce

If You'd like a stop reduction of 10 pips, then position yourself with 100,000 units ($10/pip x 10pips = $100)

If you want a stop reduction of 100 pips, then just position yourself with 10,000 units ($1/pip x 100pips = $100)

[Casal]

Hey Maheswala

Well done on your first two or three transactions and great luck on the remainder of your test.

Just a thought on your risk remark. If you would like to trade a lager tf then why don't just make your place size smaller.

eg. Say you want to risk $100 per commerce

If you want a stop reduction of 10 pips, then place yourself using 100,000 units ($10/pip x 10pips = $100)

If you want a stop reduction of 100 pips, then just position yourself using 10,000 components ($1/pip x 100pips = $100)

hello agro, accurate on this, but since its on testing stage, im working with a live mini account, and thus the smallest lot I could take is 0.1 lot, position sizing is definitely within my mind if I could shoot more lots, thanks a lot for the suggestion

[Oclimomli]

hey agro, accurate on this, but since its on analyzing stage, im working with a live mini account, and thus the smallest lot I can take is 0.1 lot, position sizing is definitely in my head if I can shoot more lots, thanks a lot for the proposal

Hey maheswara,

I do not know which broker you use, but with Oanda you can trade any size you wish, even 1 device. This comes in handy when testing new egies or when starting out with a little account.

In addition, the spreads are far better than any of the market makers out there - 0.9 for E/U, 1.6 for U/J, 2.5-3 for G/U etc.. Only downside is that spreads widen to approximately 10 pips for E/U and U/J and roughly 20 pips for G/U when big news hits the market, but that generally only lasts a few seconds.

[Casal]

Hey,

I don't know which broker you use, but with Oanda you can exchange any size you desire, even 1 unit. This comes in handy when testing new egies or when starting out with a small account.

In addition, the spreads are far better than any of the market makers out there - 0.9 for E/U, 1.6 for U/J, 2.5-3 for G/U etc.. Only downside is that spreads widen to approximately 10 pips for E/U and U/J and about 20 pips for G/U when big news hits the market, but this generally only lasts a few seconds.

Ah yeah, ecn brokers can perform that (commerce at any size), I utilize royal trader (mt4 based broker), they've 0.1 lot as tiniest size, until now, everything about them is good including fast implementation, and I very comfortable using mt4 that also provides the advantage for programming, would be glad when my broker gives mini lots option, I tried mtb (yet another ecn) platforms, they are confusing following utilizing mt4...

[bogipo34]

Hey maheswara
Would you post, your tpl rainbow and Laguerre settings.
Due