7/30/2010

Another example of my improvements

As I said this is more discretional so I advice everybody does what they think is best, but this is what I did yesterday... GU might be turning down for a bit. There is some resistance at 1.5680ish level if you look at weekly charts. So there are 3 losses in last few days (I cannot avoid losses:)) and 1 trade is still open (I closed it with small profit though because I see the price has problems with the resistance).














This is UJ from yesterday... Awesome trade. There is no strong resistance in sight so I moved my TP several pips down (15 pips). Because the channel was narrow, every single pip makes a difference! It made + another 5% difference in my case:) This doesn't work every time of course and also it demands more time in front of the charts, but if you have it, it can make a difference. CUT YOUR LOSSES SHORT AND LET YOUR WINNERS RUN!















I might do a video some day because it is easier to explain but you guys have to promise not to laugh my accent:)
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6 comments:

  1. AnonymousJuly 30, 2010 at 4:02 PM

    In sightful indeed thanks for that.

    This was my first week trading the system and had 8 losses having had 3 type D days. not a great way to start. But i shall persist. Hopefully the pain ends soon.

    ReplyDelete
  2. AnonymousJuly 30, 2010 at 6:37 PM

    Hello,

    Does anyone use trailing stop losses at all? If so how many pips do you set it? What has been the results like?

    Cheers,

    Lee

    ReplyDelete
  3. AnonymousJuly 31, 2010 at 5:05 PM

    Tomas, thanks for your blog and story. I am starting 1MD this week. Your use of S and R should help results over time, although your performance is astonishing! Well done.

    Also interesting idea moving your SL a few pips closer to b/e or make a little on the type B trades.

    Mostly, thanks for the encouragement of your work.

    David

    ReplyDelete
  4. SlurpeeAugust 1, 2010 at 9:18 PM

    Hi Anonymous,

    welcome here! Yes, this week was awfull for regular trading of 1 minute. Don't worry though, it really works, you have to hold on!

    Keep my fingers crossed for you and all of us trading 1 minute daily next week...

    ReplyDelete
  5. SlurpeeAugust 1, 2010 at 9:22 PM

    Hi Lee,

    I use TS very rarely. The reason for that is that you don't know what the width of the channel will be... GU's width goes from 50-140 normally, in UJ it is usually 25-60. It is better to move the SL by hand every time the price moves like 90% to the TP. Also if you decrease your losses, it will help in the long run...

    ReplyDelete
  6. SlurpeeAugust 1, 2010 at 9:25 PM

    Hi David,

    thanks for coming here and thanks a lot for your nice words!

    We all have to learn over time and get better. In the long run we will be successful...

    ReplyDelete

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