Immy's Corner [The Setup The Hunt - T20's and more]

[immy]

Everyone should know how to calculate their lot size per pair using a simple formula.
What you need is to know your tick value. In our Forex Widget (download from Snorms website http://www.for-exe.com" onclick="window.open(this.href);return false;) you can display the tick value. But you need this value only when you're calculating the lot size. Their are minor changes in it as the prices change. if your account is in dollars eur/usd tick value will be 1 dollar per tick, the last digit, the tenth of a pip. So for one lot your pip value =10 dollars. but if your account is a different currency than you need to conver the the 10 dollar per one pip per 1 lot x values of your currency against dollar. so if my account is in pounds and tick value of eur/usd = 0.635 (current at the time of writing) and tick value of EUR/JPY = .7012 meaning each lot cost me 6.35 and 7.01 pounds per pip per 1 lot. using this you will be able to find correct lot size yourself.
moreover you can use a software I have attached which can calulate your risk per pip as a certain percentage of your account .

or use this here http://www.goforex.net/money-management-calculator.htm" onclick="window.open(this.href);return false;


Learn more here precisely how to calucate lot size here http://www.babypips.com/school/calculat ... sizes.html" onclick="window.open(this.href);return false;

and also

you can use this page to calculate your lot size.
Very good one
http://www.babypips.com/tools/forex-cal ... onsize.php" onclick="window.open(this.href);return false;


Cheers!

[immy]

There is a great message in this! in general as well as for trading!

[immy]

Hit a classic setup on EJ for 23pips which could have been +35 or more but i thought it was over! :d
Yes! I'm using the classic setup! And thats what I'm going to use. Period! (hug) \:D/ now off to bed!

[immy]

You see drinking coffee near your bedtime is not a good thing! it keeps you awake! but trading EJ is always fun even before Tokyo Open.
another one. and this time, I'm definitely going to bed!

[immy]

Here is something that could have been taken. It was a nice 5th wave.

[immy]

I've simplified things back to basics! as per the 2010 webinar (Beginning of time) You don't necessarily have to follow my footsteps but if you do its ok. I like clear charts and I like to keep it simple (however its an ongoing job, keep reminding myself on a daily/hourly basis keep it simple stupid/sir)

[Dave]

Nice one Immy. Can you please post a link to that webinar if its still available? Thanks

[immy]

Nice one Immy. Can you please post a link to that webinar if its still available? Thanks

Here you go! http://www.itradeaims.net/forum/viewtopic.php?f=39&t=92" onclick="window.open(this.href);return false; Video Zone > Webinars right at the top!

Here is another classic long on EJ!

[immy]

Wow you still manage to caught little piece which is good.

Thanks Sam! and its another one like that this morning! Missed the action long, though I was sitting and watching like a ...sddkslajfd;ljfdkad
but then! I took a walk and cleared my mind. Told myself to relax and enjoy yoruself there will be more. I took this, thinking if there is a 5th it will be good otherwise I'll get Principle B'ed. by that I mean usually around this area we see a B up which usually is a rent.

nice 20 pips had no chance to move default TP 20.

[immy]

A Trade on EU M5. Since I'm trading EJ M1, I don't get to trrade EU m1 but I had a look at M15 charts and found something worth trading on EU given the fact Euro based stuff was going up. I survived the short though it closed on red line, at that time i put SL 2 pips below the candle that closed on red line, was hoping for a clear breakout to touch TZ1 and beyond but perhaps the FOMC and perhaps the market ran out of steam due the fact that market traded quite enough previously.
Note: This Trade was inspired from a Look at M15. I looked at M15 Trend was confirmed so I dropped to M5 to find an Entry and Found a good one