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25/5/24 Assistance

 
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bluejet1477

25/5/24 Assistance

I am currently in Silver One.  Have about 90% of it completed.  Actually, I have been stuck in Silver One for several weeks now.  My main problem is completing the 25 Pips profit for 5 trades and holding on them for 24 hours minimum.  I could use any helpful suggestions from you Bees who have made it through Silver 1.  Any assistance in this area is greatly appreciated. 

Fri, 02/12/2016 - 1:17am
 
bowl851

I have made several trades with +25 pips and longer than 24hrs. My avg trade length is 21 to 22 hrs. It requires using the 1hr time frame in reference to the 4hr time frame. It also requires using a small lot size like .03 to .05. I use a 34 high ema and a 34 low ema to create a price zone. I check the 4hr trend and then catch a pullback into the 34 ema zone off of the 1hr time frame. Which should be around .38-.61 retracement of the last leg of the trend. stop is placed at the ema band on the 4hr chart. And take profit is set at 70% of the last leg with the trend. A lot of time the risk to reward ratio is close to 1 to 1. But the trend is what gives you the advantage. Hope this helps

 
bohenon

This one was the biggest challenge for me so far. You can read all about it here:

https://apiaryfund.com/forum/holding-trade-24-hrs-driving-me-bonkers

The easiest way is to hedge the transaction (suggested by justinz in the above thread). When you are in the profit just enter an opposite trade. This way you will lock your profit and hopefully after 24 hours at least one of your transactions will have +25 pips. To be absolutely sure you should enter a hedge only when you have a profit of at least 50 pips plus 2 spreads plus some allowance for slippage. But you can hedge any profit (or even a loss), the only difference is that your probability of success will be less than 100%. When you enter a hedge remove SL and TP on both transactions. The downside is that after 24h you can have a huge loss on one of your transactions (and a huge profit on the other – the difference will always be your locked profit) so keep lot size to a minimum.

 
dhopp011

You might want to also try some different currency pairs. I exclusively trade the EURUSD but for that task I looked at currencies that that have greater pip values and different price cycles.

Good luck

 
wdennisb1

The GBP/USD is my favorite pair to trade during the London Session, and the currency worked well for completing this task. I used 5, .001 Lots and hedged the position for 24 hours.

 
avandenakker

Have a look on babypips.com/school. Especially the strategy with MACD, EMA(20), EMA(10). In anyway I passed Silver and I arrived in Silver II. I put the SL on the maximum lost I would accept and sometimes waited for days.
All the best
Rodger