Hi all.....so many of you were thinking that i was joking......but let me reveal the fact now..ok
Previously i had posted not to use STOP LOSS any more...right.So l am explaining my strategy now..ok
Suppose anyone of you opened a BUY deal of 10000 lot size of EURUSD @ 1.4400...ok & then as you must be expecting the market to go up but instead the market moves against you .Suppose the market goes down some 100pips to 1.4300...here as adviced by your STOP LOSS ideas....& if some of you have put a STOP LOSS at 1.4300...then your deal will be closed at 1.4300 & you will defenitely suffer a loss of 100pips...right.
But what i recommend is that instead of putting a STOP LOSS at 1.4300 ....you can alternatively put a SELL order of same lot size,i.e, 10000 @ 1.4300. The outcome here will be as same as the STOP LOSS at 1.4300 & my strategy might give you a loss of FEW more (1-3) pips depending on your brokers charges.
Suppose you had 1000$ in your account & as i mentioned above you opened a BUY deal of 10000 at 1.4400 & later on the market moved to 1.4300... & if you have used a STOP LOSS at 1.4300 ...so you will have a loss of 100$...& your deal would be closed......
1000$ -100$ = 900$.
But my strategy......instead of using STOP LOSS ..we will place a SELL order of the same lot size 10000 at 1.4300...so here also our loss will be the same.....but our deal wont be closed....no matter if the market even goes to 1.1000...then also our acount balance will remain the same ...Still asking urself..HOW....?? wait i will give you a small calculator to prove my point...ok
This is the 1st part......2nd part i will post later.....
2ND PART.......starts here......
So in my 1st post i had posted something like...i have 1000$ with me....n then i open a BUY deal of 10000 lot at 1.4400 & then the market goes against me & instead of using STOP LOSS at 1.4300....i place a SELL ORDER of the same ....
So here in this case if i would have used the STOP LOSS I would have made a loss of 100 pips....but rather i used a SELL order of the same lot size at 1.4300.....so my deals are not closed yet & there are chance for the market to cross 1.4300 & go up again....ok
The next thing i need to do is cut my LOSSES into different parts.....CUT my losses!!!
Then i need to place two limit orders at 1.4350...i.e, a BUY LIMIT order of 10000 lot & a SELL LIMIT order of 10000 lot too.....
So here we have 4 open orders in total.....2 BUY open positions & 2 SELL open positions.....ok
1st DEAL 2nd DEAL
BUY 1.4400 1.4350
SELL 1.4300 1.4350
(Please make sure that you have sufficient funds in your account & as i have learnt from my Gurus here...its always safe to take 1% risk in trading....)
In the next step we need to do a sort of pairing....like 1 BUY deal is to be paired with 1 SELL deal...so it will be like:
BUY @ 1.4400........SELL @1.4350
SELL @1.4300......BUY @ 1.4350
In the above we can see that in the 1st 2 deals our loss was 100 pips ....but here also the loss is 100 pips but that is being distributes in 50 pips & 50 pips.....
Its time for your comments now.......& why i did those pairing....i will xplain in my next post.....
Hi Sangram Das,
Heres the bottom line, if it works for you then great and if others can interpret what you do and it works for them, then great too.
The quack and his followers are misguided and lost, in mine and others opinions too. My interpretation of this is, if he made a physical suggestion to them about flushing their heads down a toilet then they would do, however he does not do any head flushing at all himself....I know this because of my advanced and deep understanding of analysing the markets for any pair in any time frame....which tends to be true.....Now when I compare this to the quacks expectations then we are worlds apart...To go on, if those followers have been mislead for a number of years, then there is only one outcome, which will be apparent in this following phrase...." A man convinced against his will is of the same opinion still."
Besides that, how on earth are we going to profit without these false prophets?.......heh......this gets deep now "profit" or "prophet" ?
Lets celebrate the fact that we have Gurus like these for the sheeple to follow.
Anyhow all power to you for "thinking for yourself" out of the box and looking on life with a smile in your heart (= have humor).......Sir Gissa.... Wishing you all the best .........Out !!!!!!!!!!!!!
Hi Sangram Das,
Please don't behave like a charlatan.
If you have something useful to contribute then please share it in one piece instead of beating about the bush.
Hi sangram das jee
iam from mumbai.
I am learning fx trading but get losses due to stop loss and trade going against me.
Your theroy of turning loss into profit by limit orders is excellent.
I have read till part 2 , can you kindly send part 3 ( email email@example.com)
I would be grateful to you as this strategy will keep me in fx market and boost my morale.
waiting for ur reply