Chris's live performance results

chrisandrews12 · #1 06-11-2009, 10:29 PM

Took the following trade at midnight on the daily chart:

Buy nzd/usd @ 0.64428

set sl at 101 pips no take profit and ts of 101 pips

Bit of a risk with this one as high impact news is in 15 minutes!!

update - hit SL this morning (Monday 15 June at 0826hrs for - 60 pips. Not too concerned as I shouldn't have taken the trade anyway. Onwards and upwards!!

alan · #2 06-12-2009, 04:34 AM

the LMT indicator recommended a SL of 50 pips?! I find that hard to believe. A 50 pip stop loss is way to tight for that pair in my humble opinion.

chrisandrews12 · #3 06-12-2009, 06:14 AM

sorry Alan I meant to say 101 pips! tp is 50

original post amended as well

alan · #4 06-12-2009, 06:47 AM

Quote:

Originally Posted by chrisandrews12

sorry Alan I meant to say 101 pips! tp is 50

Ah, OK. That makes a bit more sense. Now you got those TP and SL values from the onscreen LMT indicator? I'm still a bit suprised that TP would be only 50 when for example my LMT indicator is telling me to set a TP of 277 pips on eur/usd.

chrisandrews12 · #5 06-12-2009, 07:04 AM

I have the following for eu 4h:

sl 558
tp279

for nzdusd daily:

sl 1011
tp 505

Because Alpari UK is 5 digit I believe that the last digit is rounded up/down, i.e.

nzd usd daily

sl 101
tp 51

I hope I am right!!

alan · #6 06-12-2009, 08:03 AM

Ah dang, silly me, I forgot about that. Talk about a blond moment for me

...

vasude_341 · #7 06-12-2009, 09:21 AM

hi chris,
i am vasudevan from india.i got daily from the same pair,but its floating in -55$,
so whether u closed ur position,i dont know now whether it reach initial profit.

Simmo · #8 06-12-2009, 04:01 PM

Hi Chris

I saw that trade, but it broke rule No.1 If the signal bar is more than 1.5 times the recommended stoploss, then don't take the trade.

Signal bar was 180 pips. 1.5 * 100 = 150.

chrisandrews12 · #9 06-13-2009, 08:41 AM

I missed that! Whoops, anyway the trade is still open at -10 pips, it rallied quite well yesterday afternoon, so let's hope Monday's open is up!

vasude_341 · #10 06-13-2009, 03:12 PM

please explain this step correctly

Make sure the candle which gave the signal is not a huge bullish/ bearish candle.
As a guide, if the candle is more than 1.5 times the size of the current stop value
avoid the trade. These large candles will often retrace a long way before going in
the predicted direction and there
is a high chance that your stop
loss may be hit before the trade
goes into profit. This step is
essential, if you see these huge
bars on the entry signal don’t
take the trade.