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Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 7:27am On Feb 01, 2023

Geovanni412:
About High and Low of Day

On wide stops:

Wide stop which is protective for scalping would be anywhere from 1-2 ATR on the daily chart.

To be very safe, go for 1.5- 2 Daily ATR

My brother, using a wider stop usually is not the better solution.

For instance, GBPUSD averages about 135 pips daily. If we go by your proposition, I will be needing about 200 pips stop loss.

Since GU gives us a maximum obtainable of about 135 pips each day, we will be putting ourselves in a bad place trading with a 200-pip stop loss.

The risk is now greater than our reward. This on its own is not bad but you will be needing a very WIN RATE to keep the system profitable.

The more correct approach is to have your risk being about half (or even lesser) of the expected reward. Let's imagine a simple entry at the 50% Fibonacci retrace with TP at the 200% expansion level. Here you are risking say 50 pips and expect to capture 150 pips profit.

I win will wipe away 3 losses. So a win rate of just 25% keeps you at break even. Anything higher than 25% tilts you into greenland (profit).

The issue of taking "many" paper cut (small) losses will be handled by your TTI (trade to implosion) which is simply the number of losses one will take before the account gets to zero. If your TTI is set to the industry standard of 50, you will need to be wrong CONSECUTIVELY for 50 times before your account implodes.

So with a $1000 account and a risk to reward ratio of 1:3
You can risk $20 per trade expecting to make $60
You will have 50 tries before the market flattens you out.

I hope this helps? The challenge is in finding that entry that can deliver at least 2 - 3 times what is risked.
I can teach you one method that gives at least 2 times the risk but you will have to pay for it or go the route of finding it for yourself.

1 Like

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 10:52am On Jan 31, 2023

Elliotwaveforec:
UJ: High risk!

Sell from that level ought to be better.

Target 129.83 then 129.65

1 Like 1 Share

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 8:57am On Jan 30, 2023

karkinase:
Gold update.. I will look for bullish signal on 15m TF
GU Trade signal.. we need a retracement down

Lovely trajectory for GU.

In line with what I am looking at.

Good job!

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 9:33am On Jan 29, 2023

Jameselias:
My brother the competition is already filled

Oh! I wasn't aware.

Thanks for the information.

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 7:34am On Jan 29, 2023

Hello everyone,

kindly take advantage of this competition which will begin in February.

Look to the right where they have the grand prix flags, the steps for registration are there.

Good luck!

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 1:32am On Jan 29, 2023

Why are traders like crabs with a PHD (Pull Him Down) syndrome? Keep 20 crabs in a basket and watch what happens if anyone tries to climb out of the basket - it will be pulled back down!
We have a community of people with extremely sharp minds yet they have made it impossible for themselves to work together, create something and beat the market.
It is a big shame on us all.
#stop the infighting

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 3:20am On Jan 27, 2023

Everytime I see a trader staying awake just to be able to watch the charts, analyze the market, read an FX related book or so as not to miss a trade, I really feel like sending them a message and offer to train them.

These ones are putting in the work that is required but I also am cautious because I do not want to cut short the trader's refinement process. It is very necessary that a trader goes through all the pain, shame, sorrow, tears and sometimes blood before he finally is handed what will forever make him profit from the market. It is all part of the process.

Let me encourage everyone who is still struggling with the market, stay true to the cause. Put in the work required and refuse to give up! I repeat, refuse to give up!!! Your time will come if only you are patient.

The whole process of refinement infuses patience and humility into you. Endure everything and anything the market causes you. Only stay true to the cause and do the work required.

You will get there!!!

9 Likes 1 Share

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 3:10am On Jan 27, 2023

Elliotwaveforec:
Could buy

Very correct!

Target 132.43

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 2:34am On Jan 27, 2023

GBPUSD

Sell at current price 1.2406

Target 1.2427

SL 30 pips

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 7:20am On Jan 26, 2023

JAkpayen:
I think you are being emotional to the market, instead of showing sentiment. With the current market sentiment towards US$ we might hit 1.2650 for gbpusd

This your blue font make me remember gabsonfx.

2 Likes

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 4:05am On Jan 26, 2023

klinksd:
I exited after the dip and rebound again to 1.2378.

Do you see a pile of Sell Side Liquidity between 1.2410 - 1.2428, hopefully for tomorrow or next tomorrow?

I have a very strong feeling that cable needs to revisit 1.19 or lower

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 5:31pm On Jan 25, 2023

I mentioned earlier that sellers will be at 1.2380

I took a sell trade and just closed for about 50 pips profit.

I don tire jare! Make I go spend time with wifey and kids.

1 Like

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 5:25pm On Jan 25, 2023

Maroka5:
Thanks.

I can't find that of us30 there though, can you share just us30?

YM is same as US30

SPX is S&P500
While
NQ is the NASDAQ

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 4:46pm On Jan 25, 2023

meshpips:
GBPUSD

Sellers will be at 1.2338

Buyers at 1.2286

Enjoy your day everyone!

Buy side done!

I exited a bit earlier than the 1.2380 level because price got to the upper extreme of a H1 equidistant channel.

Enjoy your evening everyone!

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 2:34pm On Jan 25, 2023

Maroka5:
Please I need recommendation on a broker that has really tight spreads for us30. If anyone can recommend.
Thanks.

Click the link in my signature bro!

Best spreads ever.

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 1:01pm On Jan 25, 2023

klinksd:
...my bus stop is at 1.2410...I hope I did not enter 'one-chance'...

I try to exit early.

I have 1.2401

but the 1.2380 level is the safe place for me to offload the buy trades.

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 11:38am On Jan 25, 2023

meshpips:
GBPUSD

Sellers will be at 1.2338

Buyers at 1.2286

Enjoy your day everyone!

I joined the buyers.

See you at 1.2380

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 11:11am On Jan 25, 2023

meshpips:
GBPUSD

Sellers will be at 1.2338

Buyers at 1.2286

Enjoy your day everyone!

I just noticed that the supply at 1.2338 level has been used up.

Sellers will be waiting a bit higher up at 1.2380

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 10:40am On Jan 25, 2023

GBPUSD

Sellers will be at 1.2338

Buyers at 1.2286

Enjoy your day everyone!

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 11:25am On Jan 24, 2023

meshpips:
Price dropped quite a bit on Monday even though it first did about 48 pips to the buy side.

Now we have a bearish bodied daily candle.

I will place my SELL LIMIT at 1.2413

TP open

Note: I got just a bit of the move done yesterday.

Exit shorts at 1.2305

See attached screen shot.

3 Likes

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 7:32am On Jan 24, 2023

OfficialP:
Good morning bosses

Pls kindly help me clarify this.

In MFF, I saw two things, Max Balance Stop Out for the day and max equity stop out of the day. Both have different figures, is it that the account will be gone if the account drops to either max balance stop out or max equity stop out of the day, both have different figures.

I hope my question is clear enough.

Thanks

Use the HIGHER value of the two.

If you have trades running in profit, the max equity stop out will be higher.

But if you have trades that were red as at the start of the new trading day, you max balance stop out level will be higher.

Just use the higher value.

Hope this helps.

1 Like

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 7:24am On Jan 24, 2023

meshpips:
This pair seems to have trapped buyers.

They market makers have been very subtle in their dealings.

Notice that the candle on Wednesday ENGULFS both Thursday and Friday candles (so Thurs and Fri were INSIDE BARS as compared to that of Wednesday). The candle of CONTROL is still the one for Wednesday.

Now go to the daily time frame and see the BEARISH imbalance from December 14, 2022. My VAP analysis shows that demand was consumed at 1.2423 on this day.

Follow carefully . . . the Wednesday candle high has come back to retest this (1.2423) level and created a new consumed VAP demand at 1.24018

I am taking the risk of going SHORT at 1.24018 risking the December 14 high around 1.2448 (maybe 1.2558 for headroom allowance)

I won't be surprised if we get a very unexpected gap down by market open on Sunday night.

One last thing, two candles on daily have failed to exceed Wednesday's high meaning that we already have a DEGREE 2 SWING HIGH in place on the daily time frame.

I just feel many buyers have been trapped!!!!

Price dropped quite a bit on Monday even though it first did about 48 pips to the buy side.

Now we have a bearish bodied daily candle.

I will place my SELL LIMIT at 1.2413

TP open

Note: I got just a bit of the move done yesterday.

See attached screen shot.

2 Likes

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 9:41am On Jan 21, 2023

saintfaculty:
Gbpusd was slow for Mee this week... Took an L and 2Ws this week trading only GU. Missed a good catch on NASDAQ.

This pair seems to have trapped buyers.

They market makers have been very subtle in their dealings.

Notice that the candle on Wednesday ENGULFS both Thursday and Friday candles (so Thurs and Fri were INSIDE BARS as compared to that of Wednesday). The candle of CONTROL is still the one for Wednesday.

Now go to the daily time frame and see the BEARISH imbalance from December 14, 2022. My VAP analysis shows that demand was consumed at 1.2423 on this day.

Follow carefully . . . the Wednesday candle high has come back to retest this (1.2423) level and created a new consumed VAP demand at 1.24018

I am taking the risk of going SHORT at 1.24018 risking the December 14 high around 1.2448 (maybe 1.2558 for headroom allowance)

I won't be surprised if we get a very unexpected gap down by market open on Sunday night.

One last thing, two candles on daily have failed to exceed Wednesday's high meaning that we already have a DEGREE 2 SWING HIGH in place on the daily time frame.

I just feel many buyers have been trapped!!!!

3 Likes

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 11:40am On Jan 18, 2023

pipfisher:
Abeg Abeg.... Which good broker has a fast local Nigerian bank withdrawal? I am tired of Forexchief! Money that I withdrew yesterday morning is yet to hit my account! Its funny how deposits takes less than 5minutes but withdrawal becomes 2 to 7 business days. It wasn't so at the beginning! This has been my experience for my last 4 withdrawals. It messes up my psychology!

If you like the spread in the image below, use the link in my signature to sign up with a broker that will never stress you.
Note: even if you withdraw at 4:30 pm you will still get paid that same day before close of business.

2 Likes

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 12:05am On Jan 18, 2023

ATTENTION

Please anyone whose MT4 historic data shows the M15 USDJPY data for May 26, 2022 should please help me upload it.

My broker doesn't show the data. I believe strongly that USDJPY will find demand somewhere within the missing data period.

Please help me upload if you have it.

Thanks!

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 12:48am On Jan 17, 2023

Animashaun2:
Carelessness did me in. Didn't close my MT5 chart and ma little niece (u know children and phone) started pressing things on d phone and orders were popping out from those presses. As if the devil held her hands and getting it right. I no just fit cry.

So sorry about that. Send me a DM let's work together and see how you can scale your evaluation at any of the proprietary firms.

Be strong!

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 8:10pm On Jan 14, 2023

Brooktrader:
GBPUSD, Daily

It appears the BULLS maybe setting in but no strong confirmations yet.

In the coming week, we'd maybe focus on BUYS until 1.245XX region as marked by block A and trendline X

GBPUSD

Did far less than the average weekly range. Something "explosive" usually happens immediately after we see a period close with a range (spread) that is far below the period's average - THE NEXT PERIOD WILL FAR EXCEED EITHER THE R3 OR THE S3 (I strongly favour the sell side).

Levels to watch for supply are:

1.2258 and then 1.23114

Look out for sell trades around these levels.

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 4:09pm On Jan 14, 2023

Sell BTCUSD at current price 20,8XX

Target 19'015

3 Likes

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 4:02pm On Jan 14, 2023

infofirst:
Nobody can dispute that you do not have up to 16 years of trading experience with your msgs. The future is green bro if you keep this up. I am on standby waiting for you so we can pick up where we stop last yr

@infofirst, make I come?

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 5:09am On Jan 14, 2023

Maroka5:
Can you pls share spread for us30? And do you have an idea of their commission?

Kindly remind me to post the screenshot next week. If I post it now, what you will see is the end of week spread which is usually higher than normal.

One or two hour(s) after market opens for the new week, you will be able to see the correct spread.

Kindly remind me.

Thank you!

2 Likes

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 7:20pm On Jan 12, 2023

Geovanni412:
Not even close.

Okay

Business › Re: Forex Trade Alerts: Season 23 by meshpips(m): 5:12pm On Jan 12, 2023

Geovanni412:
Na true you talk.

@Geovanni412, is your surname Duro***ye?

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