Great technique for beginners...

[blanca]

For euro today the ks was almost vertical, so no trade there, please someone confirm the trades i did today as still dont get the whole idea of it.

[blanca]

If i had not put the stoploss to breakeven once +10 then i would have gotten a big move in the case of today`s cable. But if i dont do it then the risk of getting stopped out is open, any ideas.?

[Akash]

Originally Posted by vishalshan

Hi Akash,

You are doing a great work. Just wanted to share some info. If you are trying a new system, the best way I think is to do it manually first and lock down all the variables in that. Automating any system is too much expectations being set on that.

It would be great if some one of you who are doing that post the results with charts on daily basis and discuss about the winners and losers. If you do this for a month or so, this would help a lot in refining the system and motivate others to follow them also. There is a thread which I started for bunnygirl system followers and we used to post all the trades entered thru the system on daily basis with charts. This helped a lot who followed the system.

Good luck with your system,
Shan

Hi Shan,
Thanks for the encouraging words. You are absolutely right, that if someone (guess thats me ) started posting charts here on a daily basis, then it would help develop the system very quickly. I am going to try my level best to post on a daily basis, but won't be posting whenever I go out of town, so will announce that here, but would love it if someone else would post for that while. Infact, I would love it if someone else too could post their charts on here regularly along with me.
Rockin' Tradin'
Akash

[Akash]

Hey Guys,
Here's the GBP/USD chart from yesterday, nice trade, gave a quick run up for 50 pips and then further ahead, but I just took 50 . But, I kinda didn't follow my system right, and I didn't set the stop loss to break even once I had 10 pips. Blanca did that and she got stopped out at break even. So, Blanca and me are trying to modify the break even stop pips. We did come up with two ideas:

1. Buy two lots, close one of them at ten pips, and move the stop loss to -10 for the second lot, so that way you have 20 pip room and if you close then you go out break even. But, the problem with this method is that if the trade doesn't go your way at all, then you lose out 60 pips . So the risk to reward ratio wasn't at all good on this one.
2. The second method seems much better, but then again it has to be tested to be proven. It is that move stops to break even at +20 pips and keep target at around 30 pips. This technique would be good, if price moves about 30 pips 80% of the time when it touches KS line. If anybody can backtest this, the contribution would be highly appreciated.

Also, similar crosses were present on USD/CHF and EUR/USD, but the EUR/USD cross seemed kinda dangerous, because the market looked like it was ranging and the KS line was almost vertical.

Rockin' Tradin'
-Akash

PS If anybody can come up with better exit techniques, then plllllleeeeaaassseeee share them

[Akash]

Also, in the above chart, there were other signs too that said that this is going up. Like, there was a 1-2-3 bottom, then a symmetrical triangle break, MACD divergence on 30m and hourly as well. All-in-all, a very secure trade.
Rockin' Tradin'
-Akash

[vette74]

I am a little confused on the last trade. The KS line was not flat when you took your trade did you take the trade anyway for the reasons you described above or is it ok to trade when the KS line is going the opposite way you are going for example if the KS line is going down is it ok to trade long?

[bagovino]

Is Akash still around or did he jump ship???? You out there Akash????

[bagovino]

What do you all think about this technique???