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    Thread: 66467533-Team 8(B)- Anything Suits Me.

    1. #1 Collapse Post
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      Default 66467533-Team 8(B)- Anything Suits Me.

      Account Information:

      Account No. : 66467533
      Investor password: cthvib95
      Server: InstaForex-Contest.com

      Trading Styles: Scalping and Swing.
      Time Frames: Any preferably M5, M15, M30, H1, H4 and D1.
      Currency Pairs: Any symbol/instrument that suits my plan and strategy.

      Description:

      I'll use trending candles and pin bar indicator and important financial news to open a trade.

      Pin bar Candle:

      Information about pin bar indicator can be found clicking this link given below. I have indicated it with an red arrow on the candle chart.
      https://forum.mt5.com/showthread.php...ghlight=candle

      Name:  pinbar candles.jpg
Views: 154
Size:  317.8 KB

      Trending Candles:

      Here I consider a trend if I find three consecutive and almost even(almost same length) candles moving in the same direction on candle chart of M5, M15, M30 or H1 of any currency pair. I have indicated 1st candle with 1 and 4th candles with 4 and also shown entry point on the chart.

      Name:  trending candles.jpg
Views: 150
Size:  367.6 KB

      Forex News:

      I'll use the link given below for financial news.

      https://www.instaforex.com/forex_calendar.php


      Entry and Exit of a trade:

      I have specific strategy for each type of indicators:

      For Pin bar Candle:

      I will open a position in the opposite direction immediately or in the following candles after seeing a pin bar candle. Generally I'll use risk and reward ratio of 1:1 for this trade. I may use 2:1 ratio too. It is possible that I'll close trade manually in slow movement or for booking profit.

      Trending Candles:

      I will wait for 4th or/and 5th candle to complete. If I find 4th/5th candle is in the same direction or less than 40% retrace is seen based on those 3 candles length I'll put order in the same direction of previous 3/4 candles. Generally I'll use 2:1 risk and reward ratio but it can be contracted to 1:1 sometime. It is possible that I'll close trade manually in slow movement or for booking profit.

      News trading:

      I'll put some stop orders in both direction. Sell stop or buy stop orders with profit target of 10-30 pips with risk and reward of 1:1 depending on the news quality and impact. I may close the trade manually for booking profit.

      Money management:

      I will expose maximum of 10%-20% of my invest in a single trade with a target of 5% or more profit. In order to give more room for trades I might double the length of SL as if I have opened a new position at earlier SL. Similar things can happen to TP if strong trend is seen.




      Final trading statement for our members' learning purpose:

      Name:  FireShot Screen Capture #029 - 'Statement_ 66467533 - nkhan2810' - _D__MT5 Sections - mod job_Ne.png
Views: 159
Size:  200.2 KB

      to view bigger picture:
      1. open the above picture in new tab,
      2. click to zoom the picture
      Last edited by PhantomTrader79; 07-16-2014 at 11:04 AM. Reason: Uploading the complete trading statement


    2. The following 7 users say Thank You to nkhan2810 for this useful post.

      مناڈکیت (06-21-2014), bidyut (06-23-2014), cheema (06-21-2014), Kanta (06-21-2014), NomanKhalid (06-21-2014), ragib (06-21-2014), systematicfx (06-21-2014)

    3. #2 Collapse Post
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      look who is now ready with all his ammunition and war plan now ? The one who encouraged everyone in the previous round.
      We have same strategies as mine, you have got candles and news. I hope you can stick to your money management because that's the only way you can succeed otherwise we have examples of Nasim, Smartest Fool and Munna Daket (previous contest). Wish you good luck and Green Pips.


    4. The following 2 users say Thank You to مناڈکیت for this useful post.

      nkhan2810 (06-21-2014), systematicfx (06-21-2014)

    5. #3 Collapse Post
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      You are one of the dudes who made trader "C" contest lively..

      Encouraging not just your team member but everyone....

      Good luck dear... I will frequent your thread from time to time
      IF YOU WANT TO LAST LONG IN THE MARKET THEN APPLY THIS SIMPLE METHOD

      https://forum.mt5.com/showthread.php?86700-The-Splitting-lot-size-Method-of-Trading


    6. The Following User Says Thank You to systematicfx For This Useful Post:

      nkhan2810 (06-21-2014)

    7. #4 Collapse Post
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      look who is now ready with all his ammunition and war plan now ? The one who encouraged everyone in the previous round.
      We have same strategies as mine, you have got candles and news. I hope you can stick to your money management because that's the only way you can succeed otherwise we have examples of Nasim, Smartest Fool and Munna Daket (previous contest). Wish you good luck and Green Pips.
      You are one of the dudes who made trader "C" contest lively..

      Encouraging not just your team member but everyone....

      Good luck dear... I will frequent your thread from time to time
      Well bro thanks for your comments on my thread. I am ready for it no doubt. I just want to see how much I can implement my theory in practical case. I have used all these technique in demo account. The winning percentage is about 60%. That's why I decided why not try it here too. Whatever waiting for your comments and suggestions in the contest.


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      a nice thread, full and clear explanation of your strategy. it really nice to read and understand your thread,most of all i like your money management strategy. you are very active on the contest. good luck for the contest and happy trading, bro.


    9. The Following User Says Thank You to ragib For This Useful Post:

      nkhan2810 (06-21-2014)

    10. #6 Collapse Post
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      Quote Originally Posted by ragib     
      a nice thread, full and clear explanation of your strategy. it really nice to read and understand your thread,most of all i like your money management strategy. you are very active on the contest. good luck for the contest and happy trading, bro.
      Thanks bro for your reply. Its fells really good to get good comments and criticize for a thread. I have wrote every thing I want to do in this contest. I welcome all the comments and suggestion related to this contest.


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      Brother, I am sorry that I could not do well in the contest as I lost patience in the last 2 days but I am so much hopeful for your success. My best wishes and prayers are with you.
      You have opened a very nice thread, I liked it so much and I appreciate your efforts. I wish you good luck in the contest.
      This week I would try to observe the activities of all the traders in the contest so that I can learn more about forex.


    12. The Following User Says Thank You to NomanKhalid For This Useful Post:

      nkhan2810 (06-21-2014)

    13. #8 Collapse Post
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      Brother you choose candle stick pattern for trading, it is best trading pattern from all other charts, if you have good experience of candle pattern you can find better market future direction. Best of luck.
      ***** is One


    14. The Following User Says Thank You to cheema For This Useful Post:

      nkhan2810 (06-21-2014)

    15. #9 Collapse Post
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      Quote Originally Posted by NomanKhalid     
      Brother, I am sorry that I could not do well in the contest as I lost patience in the last 2 days but I am so much hopeful for your success. My best wishes and prayers are with you.
      You have opened a very nice thread, I liked it so much and I appreciate your efforts. I wish you good luck in the contest.
      This week I would try to observe the activities of all the traders in the contest so that I can learn more about forex.
      It's OK. It happened to many traders you know. Only few traders end up with positive equity. I hope you will suggest me regarding my trading in the contest. I am looking forward to your comments too in the contest.

      Quote Originally Posted by cheema     
      Brother you choose candle stick pattern for trading, it is best trading pattern from all other charts, if you have good experience of candle pattern you can find better market future direction. Best of luck.
      I am looking forward to implement my plan to reality. I don't how market will behave. And thank you for wishing me.


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      NomanKhalid (06-21-2014)

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      Nice and fruitful trading strategy you have choose bro.

      Keep it up then success will come to your hand.

      i like this great thread.


    18. The Following User Says Thank You to Kanta For This Useful Post:

      nkhan2810 (06-22-2014)

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