50 pips with GBP/USD, without any indicators - Page 3

la_maya_k · #21 (**permalink**) 09-19-2008, 04:37 AM

Quote:

Originally Posted by burn0050

This is an intriguing strategy. It's like making 10 pips a day, but in one day. And you're then good for the week. Definitely less stress.

You said you were risking 1%, but I noticed in your document (the 30k to 82k) - that you're actually using 2%, correct?

That's still within my tolerance range, but I just want to be clear. Also, what timeframe do you use for this?

I would ideally risk 1%, but considering my account isn't big enough to allow that much room, my broker only goes as far as mini account, not micro, so I'm trading at 2% for now.

As for timeframe, I look at M15, but doesn't really matter actually, since I'm not applying any indicators to the chart.

la_maya_k · #22 (**permalink**) 09-19-2008, 04:39 AM

Quote:

Originally Posted by bhuang3426

hey la_maya_k:
Just curious.
is there any special reason that you put TP 50? why not 60 or 120? thanks.

Well, I feel 50 pips is reasonable to ask from the cable market, if you look at how much GBPUSD would move in a day. Surely you can ask for 120 pips, but that happens less often than a 50 pip move.