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1,436 pips in one day

 
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Bluehound

1,436 pips in one day

Hello All,

I'm in Silver 3 now and one of the tasks requires that I submit a trading strategy to the hive.

Well, let me tell you about the pullback strategy that I used on Thursday, the day that I made 1,436 pips in one day (I still can't believe it).

GBP pairs were in trouble and falling quickly. I waited for a pull back, and as price was rising, I added sell stop orders every 15 pips or so, being careful not to get too close to the current price because I didn't want to get into any trades on a false breakdown, and I definitely did not want to be in any sell trades if this was a reversal instead of a pullback. Fortunately, it was a 50 pip pullback to the 38.2% fib before price started to drop again at around midnight (Eastern time). I was able to get in a total of 6 or 7 profitable sell stop orders and price finally hit it's lowpoint at around 4:30 in the morning.  When it was finished, I was able to close out all of the trades for a healthy profit. Then later that day, I repeated the process and made another 400 pips.

All of this was done using price action only. While I do have some moving averages and Apiary Pivots on my charts, I did not use them for this strategy.

Here are some screenshots to show you the pullback and the end of the trade, along with some stats. I hope this is helpfu for someone.

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Fri, 03/22/2019 - 5:21pm
 
truckerdan

Hey...Perfect! You go, Girl! You nailed it!!!

 
shorrey.s

Excellent!! Keep it up!

 
triguylm1

Great jog. Simple enough and effective. Using the chaotic nature of the market as price pulled back about 50 pips.

In a way you are not entering the market to early, and price action is filling in the ladder of pending orders, very well done!!

 
lifetradingfx

It makes sense, entering with the trend as it pulls back...Shawn was explaining that in the last two trading rooms...
Keep up the good work Bluehound!

 
specs.analysis

Noticed you gained an expectancy of $1.97. I hear tell that Shawn's is $2.00. Job Well done. I'm in Silver 2 and had a similar experience this morning. Not as profitable as you had but good enough to knock out a couple of the tasks. Looking at the charts later, I could've picked up many more but I've learned not to mess with a done deal when it comes to getting tasks completed. Markets were going sky-diving this morning at about 4:30 am est. I just set up sell stops and let them and profit targets get hit. Some happened so fast I couldn't even see it happen on the chart. Sweet feeling indeed.

 
KAbarova

I need your support in Silver 1 on placing trades:
3 under 3
5-5-5
15-5-60
25-5-24
Your kindness will highly be appreciated

 
Bluehound

Thank you all for your kind words and encouragement. Much appreciated!

KAbarova, this thread should help you. There are a lot of good suggestions in it.

https://apiaryfund.com/forum/3-under-3-silver-1

Happy trading and may all your pips be green :)

 
Bluehound

specs.analysis,

Most of those trades were one micro lot each. When I get brave and more confident in my edge, I'll start trading mini lots like Shawn. Still have a long way to go before I get to that point.

Congratulations on your success!