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Discussion in 'Introductions' started by ponchofx, Feb 8, 2016.

  1. ponchofx

    ponchofx New Trader

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    Hi! My name is Pavlin and i've just signed up last night. I've been following Darren's post on FF for a while and decided to become part of this community. I'm trading the HI-LO on the daily right now as I have neither the time nor the desire to be glued to the screen all day. Looking forward to master the method and become a better trader.
     
    ponchofx, Feb 8, 2016
    #1
    themaxx likes this.
  2. Darren

    Darren Administrator Staff Member *VIP*

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    welcome Pavlin, I will be trading so daily TF in March and April... any questions then feel free to ask
     
    Darren, Feb 8, 2016
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  3. Darren

    Darren Administrator Staff Member *VIP*

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    make sure you look into the facebook group Pavlin, lot's of great live examples and discussion in there!
     
    Darren, Feb 8, 2016
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  4. ponchofx

    ponchofx New Trader

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    OK, thanks! I'm going through the videos now and then I'll share some points and observations.
     
    ponchofx, Feb 8, 2016
    #4
  5. Darren Steer

    Darren Steer New Trader

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    Hey Pavlin..welcome aboard friend...looking forward to your daily posts......
     
    Darren Steer, Feb 10, 2016
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  6. Harry

    Harry New Trader

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    Hi Darren
    Don't really know where to ask this question but going to try here.
    Was there any valid short set up on the 4 hour ?
     

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    Harry, Feb 11, 2016
    #6
  7. JosephG

    JosephG New Trader

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    Yes @Harry you're correct. Both the long and the short were valid set-ups.
     
    JosephG, Feb 11, 2016
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  8. Harry

    Harry New Trader

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    Many thanks JosephG, I also have another question.
    I have started back testing from 2010....is it normal to be down +-500 pips in 4 weeks ?
     
    Harry, Feb 11, 2016
    #8
  9. Darren

    Darren Administrator Staff Member *VIP*

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    Joseph is correct Harry...

    you really should join in on the facebook group - you will get instant answers there, not just from me but also from other members....
     
    Darren, Feb 11, 2016
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  10. Harry

    Harry New Trader

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    Hi Darren
    I have but see most post their trades there so didn't want to disturb the whole vibe
     
    Harry, Feb 11, 2016
    #10
  11. Darren

    Darren Administrator Staff Member *VIP*

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    Normal would depend on the market movement you tested and exactly how you are entering and managing those trades. I would say it is expected to have losses - and 500 pips on H4 is not an exceptionally large loss....

    Really we need more information - are you just taking hi/low? are you holding and stacking trades for larger wins? are you exiting every high trade at every low trade? etc etc
     
    Darren, Feb 11, 2016
    #11
  12. Darren

    Darren Administrator Staff Member *VIP*

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    Ok, but it is open for questions/answers too - and you get the benefit of not just my opinion but other members too - and everyone has their own way of managing (which is right and the correct way to trade)
     
    Darren, Feb 11, 2016
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  13. Harry

    Harry New Trader

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    I am taking every hi low trade except for late friday night which does not make a difference and only exit if i have 2 active trades in the same direction, when back testing further i find that it averages 25 to 50 pips a week and with up to 40% draw down.
     
    Harry, Feb 11, 2016
    #13
  14. Darren

    Darren Administrator Staff Member *VIP*

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    ok, clearer now. Yes the longer holds will suffer more when price is not moving in a trend - but will secure bigger wins too. Also if the initial trade runs for a large win there is no reason you can not exit a single position and start the sequence again... Manage risk and Profits based on what the market did. I should add, with H4 you're ideally looking at consistent months - and they will contain lots of losing weeks...
     
    Darren, Feb 11, 2016
    #14
  15. Harry

    Harry New Trader

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    Please check and see if I have done something wrong
    Many thanks
     

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    Harry, Feb 11, 2016
    #15
  16. Darren

    Darren Administrator Staff Member *VIP*

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    no, look's fine.

    what I would say though - it appears you're taking the exit rule as set in stone - if youre holding 2 shorts and a long set's up - you dont have 1 option - to close both shorts... you have 3 options, close 1, close both, manage risk... Also if you're trading just hi/low a month on H4 is like a week on H1... not enough data. Have you considered reverse trades also?
     
    Darren, Feb 11, 2016
    #16

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