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Cool Pip's Trading Extravaganza! (now with scalping too)

 
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coolpips1r

Cool Pip's Trading Extravaganza! (now with scalping too)

Here's the strategy..... Rob Booker's Tomahawk Strategy

Indicators...

Knoxville Divergence on MT4(free)

Timeframe......

H1 and up

Rules......

Long Entry on Bullish Divergence + Reversal Tab

Short Entry on Bearish Divergence + Reversal Tab

2nd entry order placed at recent high/low(to catch double tops and bottoms)

Stoploss......

Daily candle CLOSES above/below recent high/low(where 2nd entry is placed)

Opposite signal prints 

Trade Management....

Move stop to +10 after trade goes +50 in favor

Move stop to +50 after trade goes 100 pips in favor

Continue adjusting stops +50 pips every +50 pips of movement

or......Use recent swings to maintain a close stop with room to run

 

 

 

Tue, 02/19/2019 - 12:43pm
 
ltidwell

Yes, News on the Aussie killed my trade, was up 50 pips and ended up losing 50.

 
coolpips1r

5/17/2019.....

So, today I moved from the initial funding to the first real level of funding I guess. What does that mean? It means I am going to change my current strategy from short term scalping to longer term trading. Back to the Tomahawk!!! Woohoo!! I need to get my charts setup today in preparation for monday, but I am excited to crush it with this strategy. Rules for the Tomahawk strategy are at the top of this page!!!

Did some scalping this morning on the Euro, made very little profit, but made profit, so thats enough for me! It's friday, not the best trading day anyway! Here's today's chart! Stay awesome!

scalp51719.png friday.jpg
 
Rookie

CP1R, good on you and congrats on funded!

 
coolpips1r

Thanks Rookie! I hope all has been going well with you!

 
jim_15

Thanks CP1R for sharing your journey. Just made it to prefund and I'm struggling with the $1000 account. Why can't we trade smaller than a Micro Lot???? I suppose it's better tho to learn to work with what we have. Have a great weekend everyone!

Jim

 
jim_15

BTW, anybody else get killed with Gold's descension this week? Yikes!

 
coolpips1r

Jim,

The 1k account is definitely a struggle! .01 keeps it realistic since you can't trade any smaller, plus it forces you to pick only the best setups. I would say that it helps teach self control, and discipline. I have been avoiding the trading of gold until i find a gold strategy I like. I personally trade triple leveraged silver(USLV) with my own money, waiting for that to pop soon. Good luck with the trading Jim! Stay awesome!

“The person who says it cannot be done should not interrupt the person who is doing it.” – Chinese Proverb

 
jim_15

I like gold because of the volatility, but this week it took a dive on the strength of the dollar that I wasn't quite expecting. Looking forward to it bouncing back next week off of support. The $1000 account has definitely caused me to hone in on my discipline and spotting good trades! I've needed it since that what I'll start with upon funding!

Good luck to you, as well sir! Have a great weekend!

 
coolpips1r

5/19/2019...

I need to start doing some technical analysis to get an overall idea of where the Euro is versus previous levels of S/R. So I might as well just post it up here. My bias is currently to the downside but there are some levels to consider. I will be scalping the 1 minute charts, but this is higher up analysis of H1-H4-D1. All levels are approximate, since they are "zones". Maybe it'll help me scalp only with the overall direction of the pair.

Blue = Daily Levels
Pink = H4 Levels
Yellow = H1 Levels

SUNDAYANALYSIS519.png
 
botzuiun

Congrats on getting funded CP

 
coolpips1r

Thanks Botz!

 
Pips for Profit

Congratulations!! Just remember....on the 1K account? The objective is to NOT make money, but be consistent. You may want to reduce your lot size to .01....and continue to trade the way that got you to gold 3. Happy trading.

 
LKSL

Alveo has to be one of the worst charting packages I have ever used.

 
54ravensbourne

Consistency is the word ..thanks for the reminder PFP

 
54ravensbourne

Consistency is the word ..thanks for the reminder PFP

 
bōˈdāSHəs_Fx

I've Heard Of Rob Booker On Youtube.

 
Brady Bush

Hi Pips,

Congrats on getting funded! I had my first funded week last week as well. Went down 360 pips on the first day. Guess I had to get all the losing out of my system. Climbed back out of the hole the rest of the week.

I'm interested to test out your tomahawk strat, is that primarily what you'll be trading now that you are funded?

 
coolpips1r

5/20/2019..... monday start!

Good morning! Thanks Brady and P4P! Brady, I will be trading the Tomahawk again and doing some light scalping but keeping max scalping loss to a low 0.5%/day to keep it from killing me when it goes wrong.

Tomahawk trades came in overnight, and I missed them of course because I was asleep, price moved and pulled back to signal area, so I took them at .01 lot each, second entry at .02(two at .01 so I can peel profit off and keep a position open). I'll keep that sizing until I bump up into another level of funding..

Open Trades...
AUDCAD Buy @ 0.9285 pending second entry @ 0.9230
AUDCHF Buy @ 0.6973 pending second entry @ 0.6879

mondaypugthug.jpg
 
coolpips1r

5/20/2019...... Funded Account Trading Strategy....

Blah, I decided I will just keep all of my scalping activities limited to my consistency challenge account. I have no need to generate large profits in my funded account, just stay consistently profitable month to month to get the funding increases until a time in which I can buy my Lambo. Once I can hit 100 pips a day, everyday, then I will take it live. For now I will rely on the consistency of the Tomahawk Strategy to get me through the funding levels, and maybe I'll tryout some S3/R3 pivot trades as well once I learn that system better. Also, I need to learn a system that is good and reliable for gold trading, maybe some pivots, I know Rob Booker has some sort of system for that. Back to scalping practice for me!

 
jdrtradingco

Sounds like a great plan for getting funded Coolpips.

 
coolpips1r

5/22/2019....

So let's go over positions....

EURGBP -167 pips (shouldn't take signal when news just happened)
AUDCAD -80 pips no follow through
AUDCHF still open, 2nd entry triggered, if 2nd entry is negative at end of day positions will be closed

CADJPY Sell 82.138 pending 2nd entry @ 82.563

Scalping on the Euro went OK. Chart attached. Decided that clicking the button as fast as I could was not the way I wanted to trade. I placed my levels, was biased to the downside and placed limit orders at levels above where price was.It gave me a lot better entries and since I could place the orders ahead of time I could plan my risk a little better. I am going to try to stick with this method.

scalp522.png
 
coolpips1r

5/23/2019.....

Tomahawk Trades.....

AIUDCHF -70 pips no follow through with AUD pairs, they've been trash lately
CADJPY moved +70 pips, stop loss moved to +5 pips and switched to a trailing stop
GBPCAD Buy @ 1.7048 pending second entry @ 1.7020
NZDCAD Buy @ 0.8754 pending second entry @ 0.8738

Scalping was going alright this morning until the Euro decided to make a quick move to the upside. My bias is to the downside, but we are above the Ichi cloud so I'll stay out until we are all back in line on the time frames, took a 60 pips loss when it popped. It also triggered a bunch of pending entry orders, so that was a negative. Update later with charts.

 
boss_hogg

I finally started testing your Tomahawk strat in demo. I like it. Caught CAD/JPY just as it signaled yesterday and it's sitting at +88 pips right now. Thanks for sharing!

 
coolpips1r

Boss,

Well, I wish you luck! Rob Booker created the strategy, I'm just a dude who trades it. Remember to take profit at some point and not let it reverse all the way back down to nothing!

So how'd trading go today? Eh, so so. The pop on the Euro killed me, but I continued to scalp to try to get some pips back. Still a loss, but less of a loss. Sideways movement right now so I took a break. Tomahawk trades are going well, collectively up 140 pips at the moment, but I'm going to stick with strategy and keep them running.

CADJPY currently at +90 pips, adjust SL to above a recent swing, keeping it tight but not too tight, no risk on trade!
GBPCAD currently +10 pips, but fighting to keep gains, so might be a dud
NZDCAD currently +30 pips, may adjust SL to B.E. to remove risk, depends on PA

no new signals, but I'll post em up as I get em, see attache chart for this mornings scalping, was careful on the way up since it likes to pull complete reversals and the move was rather quick.

scalp523.png
 
2PlateNate

Hi Coolpips,

Do you ever allow yourself more than 2 entries? I assume you're not doubling down, but just averaging in to the position you want over 2 trades.

 
coolpips1r

2PNate,

Honestly, the second entry is there to catch double tops and double bottoms. That's about it. It also acts as a stop loss area for my first trade since all trades are closed if the 2nd entry is negative at the end of the day. This strategy was taught to me this way, and I try not to stray from a proven formula, it's my religion haha. Cheers!

discipline.jpg
 
coolpips1r

5/24/2019......

Happy Friday! No new Tomahawk trades today....but I did lock in some pips and close out trades.

GBPCAP closed yesterday for +6 pips.....price action was not making this look like we were going to get follow through
CADJPY retraced back into Stop Loss for +50 pips
NZDCAD moved +45 and I closed it because it's Friday and price does funny things on Fridays

There are a few more pairs setting up, but I won't take more Tomahawk trades until Monday even if they come in today. I was planning on doing some quick scalping on the Euro but it's going sideways on the M1 right now and I much prefer to scalp in one direction, so unless that changes I'll be on the sidelines.

firdaymeme.jpg
 
Gary Styles

Do you see your future self as a Shawn type trader? (market structures, price action, scalps) Or a rigid system trader? There seems to be a change as this thread has progressed.

Is your performance improving? Stalling? Receding?

 
coolpips1r

Mr. Styles,

Well, it started as an unfunded trading log, and going through the beeline quickly requires you to be nimble and change strategies as needed. So I was trading Tomahawk exclusively, until it didn't progress me fast enough so I moved to scalping.Then, it went to a funded account, but too small to effectively trade the Tomahawk because I need the room for stops to be large without being too high of a percentage draw down on the account when the max number of usual trades is open, so i continued scalping. Now, I am up to 2500. I can safely resume trading the Tomahawk strategy again, and work on my scalping skills in a demo account. I want to be a rigid systems trader as you call it, i prefer calling it a "mechanical systems trader". As I see Shawn crush it scalping, there is always that FOMO in the back of my head, and it makes me want to be a good scalper, but at the same time I see it contradicts my goal of spending as little time in front of the computer trading as possible. My Tomahawk trading hasn't improved or gotten worse(just take the trades as signals appear), I have been trading it on my personal account so I've been staying up on that. My scalping skills.....that's sort of going sideways. Some days up, some days down. As I type this it makes me regret scalping. My goal is just to progress through the funding levels until I get to 250k, and the fastest way isn't being the most profitable, it's being consistent. I read that profitability isn't even the main contributor to an increase of funding level, it's risk management. I really really really need to remind myself of that everyday and just take only Tomahawk trades, ignoring a "quick pip fix" by doing some scalping.

long answer short....going to stick with mechanical trading systems, and practice scalping in a demo. I am an example of someone who attempted to beat beeline as fast as possible, not caring for results other than becoming funded(took about 4 months). Now I can implement my longer term trading strategies and they wont be hindering my progress(since I am funded now).

Thanks Mr Styles for calling me out! It is much appreciated! Feel free to do it anytime, as I have no one keeping me in check at home haha!

18uf81.jpg
 
coolpips1r

5/24/2019............... MINOR/MAJOR UPDATE

No more scalping for me! Blame Mr Styles for pointing out that I have strayed, but also thank him for getting me back to my original plan.

GOAL >>>> 250k Account....there is no intermediate goal!

How will I accomplish this? Tomahawk Strategy and lots of discipline. I'll be posting screen caps of Tomahawk trades from now on, I know I am not the only one trading this strategy here! I will also be perfecting another longer term strategy in demo, full set of rules when I get it implemented.

Here's today's charts for the Tomahawk...I get my signals from MT4 so that's missing until I start using MT4 screenshots.

cadjpy.png GBPCAD.png NZDCAD.png
 
burton

have not heard of the "Tomahawk" method. some good looking trades.

 
coolpips1r

Holiday!

BvES87FhdMN1mBrs3vWcO6kpR8BD9tLO_lg.jpg
 
coolpips1r

5/26/2019....

EURCHF Buy @ 1.1239 pending 2nd entry at 1.1195

More pairs setting up. Not sure how the holiday will play into these.

EURCHFH1.png
 
boss_hogg

Strange. I'm actively trading the Tomahawk on the H1, but I did not get that signal. Do you tweak the settings or anything? I do have the divergence, but no buy tab.

 
coolpips1r

Boss,

I believe somewhere in the settings for KD that one of the numbers gets changed, but I will go back and watch the chart setup videos to figure out which one. If you are using a different broker, or a different charting platform that will make a difference too. I am using Oanda.

 
boss_hogg

Good point. I'm using Forex.com so that's probably it. I watched the setup vids and I'm pretty sure there was no mention of settings changes. Broker makes sense.

 
coolpips1r

5/27/2019....

A few more positions signaled while i was asleep, I took them when I woke up. I take these trades based on the rules, not on what I think about the trade or the market. Keep that in mind! Have an awesome day, I'm off to do some fishing and bbq'n!

USDCHF Buy @ 1.0049 pending second entry @ 1.0009
CADCHF Buy @ 0.7475 pending second entry @ 0.7433
CADJPY Buy @ 81.438 pending second entry @ 80.942

USDCHFH1.png CADCHFH1.png CADJPYH1.png make-monday-funday-challenge-accepted.jpg
 
maria8185

Some cool information, Cool Pips.
I don't quite understand this strategy fully,
but i will definitely go over the info again and try to implement
in my trading.

 
coolpips1r

5/27/2019....another position added :)

Well, USDJPY signaled, and now I'm in that one too. Getting busy haha. Like I stated before, I just take the signals, I do not judge the quality!

USDJPY Buy @ 109.526 pending second entry @ 109.289

USDJPYH1.png usdjpy1.png
 
coolpips1r

5/27/2019....more trades!?

Couple more for the fun.

AUDUSD Sell @ 0.6915 pending second order @ 0.6986
NZDCAD Sell @ 0.8793 pending second order @ 0.8817
NZDUSD Sell @ 0.6545 pending second order @ 0.6558

AUDUSDH1.png NZDCADH1.png NZDUSDH1.png
 
EkezEo

Hi Cool Pips,

Very cool the THS, I think I might give this a try I am not sure yet, but definitely will test it out on a demo I am so curious after reading your thread. I have gotten through everything using pivots and a few other indicators. I try to keep the chart clean less is more for me and I see things better this way.

I just made gold 1 and making my way through it all.

Happy trading!

Ez

 
coolpips1r

Eze,

Good luck! It does give nice entries, but there's no guarantee for follow through since this is a reversal type strategy. Congrats on your progress! You'll be funded soon for sure!

gold.png
 
coolpips1r

5/28/2019......things are happening!

Some trades are winning, some are losing, but they are all moving. There's another pair setting up, but no reversal tab yet. NZDCAD has pulled back into entry 2 so there are 3 trades open on that pair for a total position size of .06. If trade 2 closes negative, even if by 1 pip, I will have to close that trade out for a loss. Remember, I do have a stop loss running, but the system states to close the trade manually and not rely on a stop loss. The stop loss is just there so I don't blow up the account if something crazy happens in the market. Since there's only 1 pair setting up I can just set an alert on my phone for a reversal tab and spend the rest of the day doing something else! I will have to check back at the end of the trading day to see if any trades need to be closed, but thats it, and I can check that on the Apiary stats page from my cellphone. Have an awesome tuesday!

l-1612-and-then-came-taco-tuesday.jpg
 
coolpips1r

5/28/2019..unfilled trades??

I was checking in on the trades, noticed that USDJPY seems to have clearly went past my second entry but never filled. Not sure why. Anyone have any ideas? Attached is the chart of this trade with one filled order and 2 pending below it....maybe I am crazy? I circled where it broke and never filled. I think I would have a killer position right now.

usdjpyunfilled.png
 
minielye

I would send your screenshot to Apiary support. The other day I had made 40.30 pips on a trade but on my pips made that day it registered 80.60. So Alveo doesn't always work right. I've had lots of trouble with it lately. Has anyone else had that problem?

 
FrankS

I have enjoyed this thread more than most. Read it today from beginning to present. Thanks for sharing the insights.

 
DanaC

Thanks for sharing. The 1k account doesn't leave a lot ofd room for a trade to run on the daily time frame. I might have to start trading lower time frames.

 
coolpips1r

Dana,

even 2500 is stretching it, needs 5-10k to really have to room for margin and even pending positions

 
coolpips1r

5/30/2019....

Doing ok today, took a loss yesterday. I'll post charts later. Went to an awesome art show in Santa Cruz yesterday and also got in a couple rides on the Big Dipper! I love a good wooden rollercoaster. Even had some sliders at Burgerim, which I had never been too, and it was also pretty epic! Today, tempting fate, testing my road bike out riding offroad. I put on some wider tires yesterday, and grabbed some extra tubes, but its still a road bike haha! Nice part about on Tomahawk trading is the free time it affords for fun. Lets just hope the pips come in hot and fresh too. Trade updates and analysis when I get back, cheers!

802.jpg
 
burton

"Santa Cruz" ...as in california, oh how i miss the road trips to santa cruz beach and board walk. so much fun, so many memories.

 
gpdno

Ha, I lived in Sunnyvale in the mid 90's. I spent many weekends in Santa Cruz. Good times ;)

Peace,
Greg

 
burton

sunnyvale, how cool, i grew up in san ramon, long before all of the over development. use to ride my bike into walnut creek.

 
jestes1235

I saw Rex trade news and he made out great. He wanted to buy a pair and set up multiple trades as the movement started. He probably cleared 40 pips on 4 trades within 2 minutes and then the movement was done over the news within 5 - 8 minutes.

 
coolpips1r

6/13/2019....Uh oh!

I guess everyone was smart enough to move out of the Bay Area before it turned into this techie nightmare! I'm here toughing it out for the long haul, maybe one day they'll realize they stripped the soul out of this place! Oh well. So.....I have been busy because of a recent heatwave that has forced me into work! Boo! But I have been actively trading, might have missed a few trades here and there. I'll organize all my screenshots and empty thoughts and post up the last couple of weeks worth of trades tomorrow. I need a cold beer and a comfy chair for the NBA finals tonight! Go Warriors! Until tomorrow....stay awesome!!

warriors.jpg
 
coolpips1r

6/18/2019.....

I was going to update all recent traes, but then i looked at how many trades were taken and all of the work to plot every trade on every pair and take screenshots of all of those.....yikes!! So, how about an update from today, then I'll just try to keep up with all new trades starting tomorrow. To sum up the last few weeks, I would say I pretty much have gone nowhere and have been sitting around the same balance. Losing more than winning, but not tremendously. I have some free time again, so I'll be working on learning more long term strats. I am getting close to having the next system completely figured out.

GBPNZD.png GBPAUD.png
 
EkezEo

Oh coolpips,

Made it to Gold 2 and having a rough time with this small trading account. already losing about 180.00. Any advice on how to get through it?

 
Rookie

.25risk and .01 lot no more than two trades at a time

 
EkezEo

Oh my, I am going to be here for a while I see; ha ha. Thanks Rookie

 
boss_hogg

Gold II took me 3 months. Expectancy kept biting me and it takes 30 days to beat it. Watch your stats!

 
burton

ezequielortiz78...

- go small 0.01 lot size
- only take proven, high probability setups
- slow down
- bigger winners, smaller losers
- like boss_hogg says, the expectancy is calculated on a 30 day cycle.

so, if you can slow down, reduce your losses, and take bigger wins, you will begin to change your expectancy.

 
coolpips1r

6/19/2019....

Ezeq...like everyone said, small trade sizes are key. I am in my funded account but just digging myself out of the hole I am in, which isn't that big, but small trade sizes keep it a slow grind! Breaking discipline and increasing trade size would just most likely lead to even larger losses, for both of us(since we are in the same boat, sort of). It's work, but all good things are worth the work. Pain and pleasure!

 
coolpips1r

6/19/2019.......UPDATE!!

Below are open trades, in chart form! I really hate having to type out the entries here, so just check the chart! I want to make this journal as easy for me to keep as possible. 2nd entries at high/low are pending orders and the stop loss!

ucad1.png achf1.png gj1.png Hilarious-Wednesday-Work-Meme-1.jpg
 
coolpips1r

6/19/2019.....end of day update!

AUDCHF was closed for -42 pips, opposite signal generated
USDCAD moved +100, 2nd order removed, SL move to +50ish and adjusted to above nearest swing
GBPJPY hasn't done too much

GJ2.png ucad2.png
 
burton

nice

 
coolpips1r

6/20/2019.....

GBPJPY still hasn't done much, see chart for details!

USDCAD moved +121 yesterday evening, and hit the recent low, I took profit at the recent low and set a pending sell stop below. Since I was not signaled to get out of the trade, I took profit because of price location, and no other reason. I got back into it just in case in broke the recent low, which it did and is now running +50pips with SL adjusted to no risk. See chart! In hindsight, I need to make myself a rule about peeling off some profit at major levels. I probably should have reentered with 1/2 the trade size since it wasn't as high of a probability trade as a pure fresh Tomahawk.

gj3.png thrusdaymeme.jpg ucad4.png
 
danielemazzolini

I just found this topic, it looks really interesting, thank you for sharing!

 
coolpips1r

6/20/2019.......

random comments are usually the result of BeeLine requirements.... gets old!

GBPJPY Closed!! It broke my trend line and headed the wrong direction, then I received an opposite signal. -44 pips
USDCAD Closed!! Watching price action I closed the trade for +45 pips essentially negating my loss on GJ...

The rules for this system are very clear for entry and SL, but when it comes to taking profit, that's purely up to me to decide, or wait for the opposite signal to form... Mechanical on the open and management, discretionary on the close!!!

davepip.jpg
 
burton

"random comments are usually the result of BeeLine requirements.... gets old!" ...a bit laughable, especially when it's the exact same comment in three or more threads.

 
burton

"when it comes to taking profit, that's purely up to me to decide, or wait for the opposite signal" ...coolpips1r, is your expectancy staying green?

 
coolpips1r

error

 
coolpips1r

6/21/2019....

Burton,

Honestly, my expectancy is not good right now but that has nothing to do with this system. It has to do with a lack of discipline early on while scalping and now I am just digging my way out using the Tomahawk. I am not going to change the system rules, that is the mistake that happens the most in these forums. Someone comes in, doesn't trade the system, and then suggests you change it or that maybe you could be doing it better, or maybe that it doesn't even work! Luckily, I have been trading this system for a while now, I know the rules, I tracked my results on myFXbook, and I have confidence in my decisions.

End of the week pip count..... +322 pips

It's friday, no trading today!

bucket.jpg
 
burton

"now I am just digging my way out using the Tomahawk" ...coolpips1r, awesomeness...good on you!

 
burton

great to see you're making progress. =)

 
FrankS

Looking ahead, do y'all trade only select ultra-low spread pairs to get through that $1,000 Gold funding test?

 
Rookie

Depending on your trading style there is a lot less risk trading low spread pairs.

 
FXGold54

Franks;

the Gold 1 pre0fund is designed to test your risk management skills. Might I suggest simply adjust your position size for your stop loss so that your risk per trade is no greater than 2% ( personally I would try and keep it lower than that. Mind you there is no benefit in trading a big position size, since you don't get a cut of the demo profits. You should not change the way or pairs that you normally trade.

Allen

 
coolpips1r

6/26/2019.....

I made no trades on Monday, I was summoned into work! I took some trades yesterday, did some gardening and chillaxed. Here's what's currently open....

AUDCHF.png CADCHF.png CHFJPY.png EURGBP.png EURUSD.png USDCHF.png
 
coolpips1r

6/26/2019.... quick trade update

all is going well, nothing too crazy, sitting at an unrealized +1.32 % gain..but that's unrealized....so here's a few trades that I have removed the 2nd entry from and moved the SL to a gain, so no more risk. Charts!

audchf2.png CADCHF2.png USDCHF2.png chart.jpg
 
robunited

Very nice ... I wonder, you don't want to adjust your S/L levels more to protect some of the +1.32% gains?

Then again, you have a plan and know where you TP is. And move your S/L as you feel right for you where to place them.

What TF are these screenshots?

Thanks for sharing live trades!

 
coolpips1r

Rob,
I am trading the H1 time frame. I honestly deep down inside want to just click it out an take profit, but I also want to trade this system to perfection. Once trades move 100+ pips then I will start to look for better stop placement or watch PA to make a decision as to when to just pull the plug. This system really isn't making money from the small 50 pip moves, that just negates losses, its the larger moves that make this system profitable, and allowing the trades room to work themselves out really seems to be the best bet. I have pulled out early lots of times early on in trading this system and found that I missed larger moves frequently and it swayed my results to the negative. I tell myself everyday, trust the system! Cheers!

trust-the-system-they-said.jpg
 
robunited

Sounds like a plan ;-)

Please post the ongoing management of these trades, interested to see how this develops.

 
chevbel

I really like the idea of setting up your trades to accomplish what is necessary to move forward in whatever level you are at

 
coolpips1r

6/27/2019...

quick chart post before I head to work!

EURUSD1.png
 
coolpips1r

6/27/2019.....

so, at one point collectively all my trades were up over 2%, but I am following the rules and didn't close them all out. It has since retraced on alot of trades and I am sitting at +0.5%. I am going to hold strong and let these play out. Here's another chart, EURGBP, 2nd entry triggered.

eurgbp12.png
 
coolpips1r

6/27/2019...end of the day!

Here's the last couple of open trades, I'll post the closed trades tomorrow in a weekly recap.

CADCHD1.png CHFJPY.png
 
coolpips1r

6/28/2019......friday fun!

Here's CHF/JPY for you to eye! It's sitting around the SL, so if it closes above position 2 at the end of the day, then I will close the trade. I will have to make the decision right before the market closes today or else it'll be open all weekend and may get catch a bad gap or something sunday.

CHFjpy.png its-been-a-long-week-thank-god-its-friday.jpg
 
doc12

I put on a sell two days ago and took myself out but I should of let it play out that was a good day to sell and will be watching for another opportunity. Maybe if it hits the 200 MA

 
doc12

Sorry in the CHF/JPY

 
doc12

Today we had a nice bounce in the GBP/NZD. I also got greedy with the USD/JPY and was up down up and lost never took profit but it was not just about profit but to try and complete a task. So I let it ride

 
coolpips1r

more random comments........ouch....

7/1/2019.......Monday Funday!

So, I had a pleasant weekend, a friend came in from Texas and reminded me constantly how much better the weather is here in California. Now that it's Monday, I have meetings and work to do, boo! Here's what's open trade wise.... As far as last week's pip count.... +100 pips for the week....not horrible!

AC1.png CJ1.png GA1.png GC1.png NC1.png NU1.png UC1.png weekend-gone-funny-monday-meme.jpg
 
coolpips1r

7/1/2019.....another position added...

Currently sitting at a collective +150 pips on all open trades, here's one that just got added!

EA1.png 04d469fdd960f16d01ac880f1870bb37--funny-gym-hilarious-memes.jpg
 
michaelmonica

TY. Like the trade setup

 
coolpips1r

7/1/2019.....

More trades!! I am hitting my limit for maximum positions.....so going to have to lower sizing to .01/.02 for entry 1/2....

gn1.png nj1.png pips-are-coming.jpg
 
Rookie

CP1R, I really enjoy your posts and tunes, this Yoda one is a fav of mine!

 
coolpips1r

Rookie,

Thanks dude! I'll try to keep the meme's fresh and the trade quality questionable!

 
coolpips1r

7/2/2019.....Tuesday...Bluesday?

Yesterday, trades went all over the place. Up over 200 pips at one point(collectively) and then down over a hundred pips later. Today I woke up and I was looking at +40 pips, not great but positive is positive. Now I am looking at almost -300 pips because the GBP took a dive across a few pairs. So, what to do? Nothing right now, just watching price action, and I'll wait for the daily candle close to make SL decisions. I may take profit on some trades if PA goes against me just to lock in some wins to offset the GBP trades. CHF/JPY has moved position 2 more than +100 pips, so the SL for both positions have been moved to positive to remove any risk. Do I add to this trade if it continues to trend or get a good swing entry? Chart attached.....

CJ.png
 
burton

coolpips1r, while it's great you have a system, and that you follow it as you do...i couldn't do you...as much as i enjoy the 100+ pip moves, the ones that draw down would make me crazy...more power to you.

 
coolpips1r

Burton,

Draw down can be your friend! All good trades take time to develop and blossom like a butterfly at which point they can fly off into pip town. It is a mental game though, and I could see how a lot of people would hate open draw down. Thats why....like a plethora of people say..... back test and forward test and gain confidence in your system. Without some confidence in my system I would pulling out early and missing out on big moves, also taking unnecessary losses because of bad SL levels. I am a VERY impatient person, but when it comes to trading I have learned to have patience(nowhere else in my life though). I thank Rob Booker and his Finch robot, because it loves to run open draw down but at the same time bank tons of pips on other pairs that aren't trending. It taught me that the market is chaos and chaos is good, but dealing with chaos requires patience. I try to treat my system like religion and follow it blindly(blindly but back tested and forward tested). I have the faith! Your system should be your religion, I have said it before ad I say it again.Trade like a robot. Consistency becomes profitability. Everything can be learned, even if your personality runs opposite. Discipline like a Dan Brown villain. Drink a beer, chill out and let it ride haha(smoke a joint if you're in a state that it's legal).

patience-21.jpg
 
burton

coolpips1r, don't get me wrong, i do enjoy following you...i just know that i could not do what you do.

 
burton

"Your system should be your religion" ...truth =)

 
coolpips1r

7/8/2019.......

So last week ended up a HUGE bust. I did OK early on, trades were moving my way. Then Wednesday, I was CRUSHED! A lot of trades turned around, opened up 2nd positions and kept going. My loss was sitting around - 4.75% on Wednesday, which didn't lock me out i guess, because it forced closed a bunch of trades, including winning ones, but then allowed open pending orders to still get filled later and lose more. I was not around at the time, so I was unable to just close out the trades when they reverse. I need to go back and review this strategy history, as my losing streak is getting rather long and my hole is just getting deeper(not insanely just a little). I may need to completely change the way I trade, and work out a new system(which I am doing). Even though the gentleman who taught me this strategy says it's really hands off except for a couple times a day, I found that to be overly optimistic when trying to keep this strategy green. I typically need to watch price action more than advertised, which would be fine if I was making a nice profit but I am not. Truly, I do not want to switch up strategies but I can't continue to bleed money slowly. Maybe I should go back to scalping for the time being while I perfect a longer system. The ideal strategy for me would be the one that requires a minimal amount of time invested, but a maximum return(everyone's dream). Maybe I need to be more realistic with my expectations. Shawn and Todd crush it using short term strategies and I should be able too also. So, for now, I'll be cracking off on a new thread where I will step by step develop my own short term strategy, or maybe stealing someone else's and making it my own. That's tomorrow.... I will maintain this thread on my long term strategy, as I develop it also! Thanks for following along so far!

New-strategy.jpg
 
burton

coolpips1r, don't you use alerts?

 
coolpips1r

Burton,

Yes, but while at work I have no access to any way to trade. Not because of technology(I have a VPS accessible from my phone), but because of the nature of the business(no phones/NDA). It still doesn't change the fact that I have been slowly bleeding money out of the account. I am very good at following the rules, closing/opening trades as quickly as I get a signal, and I would say I executed the system very well. I have gone back over my trades and don't see any obvious mistakes based on system rules. I can't continue to trade this system, until I feel confidence in it again, which had been waning in the most recent weeks. Maybe the strategy is on a losing streak, and XL losing streak, but honestly, it's more of the fact that I need consistent income monthly, not maybe 10-15% by the end of the year. I sent in my letter of resignation this morning so I'll have more free time to trade. How's that for action! Wooooooo! Freedom!

just-quit-my-job-with-nothing-new-lined-up-23292870.png
 
burton

okay then, back to the wall...do you have anyone that can provide an objective perspective of your system? ...or how to trade it?

 
coolpips1r

.Burton,

I can watch tons of videos on how to trade it. I paid to learn it, plus the other systems that the dude teaches. Exit rules would be thing that kills this system(mechanical entry/discretionary exit, unless SL). I am not completely giving up on it, but I definitely need to at least trade that strategy in conjunction with some scalping to keep consistent pips coming in, even when the longer term trading is going through a losing streak. One thing I could do to reduce the losses, but also the wins....not take so many trades on one currency? Maybe only 1` or 2 per currency? Problem is that would sway results because that's not how it is supposed to be traded. How about reduce trade size on long term strategy to .01, that gets some equity free for scalping. I don't want to fall into the cycle of doom and keep switching up strategies, but i also don't want to trade this account into oblivion because I refused to let go of a failing system. Ya know? Both, is that the answer? Doing both and keeping records of it, that will prove which works for me better.

Attached is today's scalping results, not the best, but only getting in on one position per level, at least until I feel more comfortable. All trades opened with pending orders.

+0.25% for the day

Cheers!

SCCALP.png
 
Rookie

Fats said, Said all you need is a broomstick and a potato.

Mosconi & Fats, The Great Pool Shoot-Out
https://www.sportshistoryweekly.com/stories/pool-billiards-minnesota-fat...

As Todd has said a few times, let us assign you a strategy and make it successful then you have earned the right to choose and change.

 
Skeeva

Cool Pips, I ran into a problem like that. It ended up being solved by managing the size of my trades. If you find your draw down percentage shooting up too fast and you getting locked out, then I would recommend going with smaller size trades. This allows you to weather some big drops and allows you to scale in again when the drop is complete so you can catch the reversal. If you are going to "test" systems, test them with .01 lot sizes. That way a 200 pip move against you doesn't really hurt you and gives you the opportunity to close out at a modest $$ loss or scale back in. Obviously, letting a trade run against you 200 pips is not advisable, but if you don't have access to your computer at work then it could happen if you don't have stop losses.

Wait til you have a proven system before you start upping the ante with any type of real money. Preferably trade in one of the test levels until you consistently make pips. If you cannot make pips there, then you should not be trading real money with that system. I learned this the hard way, but I've found a lot of times in my case, that's the only way for me to learn. :)

Just my two cents, but that helped me.

 
coolpips1r

Skeeva,

maybe you should read the entire thread? Just saying.......you clearly don't know any rules of this system and didn't bother to see why a trade would run 200 pips against me.... Don't be lazy, read before you write.....

 
coolpips1r

7/9/2019........Trades!

So, I am going to trade both the Tomahawk and my standard P.A.scalping. Here we go.... open Tomahawk trades... any questions, feel free to see 1st post with rules!

CC.png CJ.png GC.png
 
Skeeva

Sorry Coolpips, I did read the entire thread. You said the GBP ran against you so you were down 200 pips. But in reality the reason why anyone is down 200 pips is because of their trading system, each pair has the ability to run against you or for you 200+ pips, although some pairs may take a lot longer than others to do that.

As I said, it's just my two cents and something that helped me. If there was a perfect system, everyone would use it, but there are systems that can be modified based on your trading style. Also, using smaller lot sizes IF you prefer to stick to this system would help you not get locked out at the 5%. The inability to be agile and look for different ways to make changes to make things better and get away with our "assumptions" and look for possible changes, can cause a trader to fail. Like the assumption I didn't read the entire post.. ;)

As I said, I was just offering suggestions as I've never found the perfect system and always look for ways to make it better. Remember when people are offering "their" system it is for a reason. It's not the "holy grail" of trading otherwise they wouldn't be offering it. It is usually for marketing purposes - either to drive customers to their website or to get views on their videos.

I apologize if I came off as not having read the post. But to be fair, think about this - Why would you let a trade ever run 200 pips against you? That is such a big move and realistically the time it takes for that the trade to come back to break even is not going to be any time soon (unless maybe you are trading gold). So, based on the system, you are entering on a recent reversal tab based on the indicators divergence reading. There should be some directional action (Otherwise, why would we enter the trade, unless we are fading, but that can be very dangerous, unless you manage your stops well).

Why not immediately move your stops to BE after you enter the trade or even leave them 10 - 20 pips out and then set up another buy at the next level down. That way, you won't have the big losses. I'm just thinking of ways to help. If we cannot exchange Ideas, then why have discussions! We can agree or disagree in a friendly manner. :) Hope you have a green day today my friend!

 
Skeeva

Hey Coolpips, just saw your screenshots and entries. Maybe just try my suggestion and get your stops to breakeven quickly. If they get hit, then look for the opportunity to get back in when PA reverses again. Again, my two cents :)

Looks like you have some good entries though.

 
coolpips1r

Skeeva,

Sorry dude, I can be a dick! Most comments I receive are beeline requirements or rando comments completely unrelated. I agree that I could add some sort of directional entry signal, maybe a trendline break or something? The problem is, I would have to be around when that happened, and if I'm not then the PA signal will be missed. Currently, I take all signals, even if missed by hours, so long as it hasn't move too far in the expected direction. As far as moving my stop to BE as soon as possible....I can try, but this system is designed to catch retracements into recent highs/lows if they end up as double tops and bottoms. If I moved my 1st entry to BE, then it would be closed out by the time it retraced into entry #2, and then i would have 1, not 2 positions open and that would also change my backtested outcome by reducing the size of wins on retracements that end up actually giving follow through. Maybe....make it a little more complex.......move stop to BE on #1 as soon as it moves say....20 pips.... let it retrace and stop out if it does, if entry 2 gets smacked, place an order above/below back at position #1 and let it reopen as it moves higher/lower as originally intended?

4ymp3.jpg
 
coolpips1r

7/10/2019.....hump day!

So, I opened some trades, here they are!!!

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