Trade Rules:

  1. Trade lots in multiples of 2.
  2. Recommendations will include entry point, initial stop-loss level, first profit target (PT1) and second profit (PT2).
  3. When PT1 is reached, close half of the open position. From here you can do one of two things – move the stop for the other half to breakeven point (this will lock in profit from first half for the day) or leave the stop on the second half as it is and this will create a risk free trade for the day (if you get stopped out on the second half, the profits from the first half will offset the loss on the second half).
  4. Close any open trades or orders at 5 pm EST, or at your discretion.

My picks and analysis are intended for demo use only to help further your trading education. Good luck and good trading!

  • bleung448

    Hi,
    I’m new in Forex. Can you give me some example on trade lots in multiples of 2?

    Thanks

  • bleung448

    Hi,
    I’m new in Forex. Can you give me some example on trade lots in multiples of 2?

    Thanks

  • bleung448

    Hi,
    I’m new in Forex. Can you give me some example on trade lots in multiples of 2?

    Thanks

  • palmoil

    Hi Pipcrawler, your trading rules are ingenious. Wonder for situation where market position did not hit PT1 and PT2 and went directly to SL. Shall we close the position by 2 same SLs or we shall have another SL? Thanks in advance.

  • palmoil

    Hi Pipcrawler, your trading rules are ingenious. Wonder for situation where market position did not hit PT1 and PT2 and went directly to SL. Shall we close the position by 2 same SLs or we shall have another SL? Thanks in advance.

  • TheMazter

    Sounds,Sound Advice! Can you please confirm what you mean by “Trade lots in multiples of 2″?

  • TheMazter

    Sounds,Sound Advice! Can you please confirm what you mean by “Trade lots in multiples of 2″?

  • JeffDow

    New to your BLog.

    Really dumb question. I took a tip today and did the USD/CAD play off the Canada interest rate cut. Unfortunately, I believe I took the wrong position. I clicked on the right side USD for 10,000. In my practice account I then lost around $50. Should I have sold USD instead of bought, and clicked the left side?

  • JeffDow

    New to your BLog.

    Really dumb question. I took a tip today and did the USD/CAD play off the Canada interest rate cut. Unfortunately, I believe I took the wrong position. I clicked on the right side USD for 10,000. In my practice account I then lost around $50. Should I have sold USD instead of bought, and clicked the left side?

  • pipasita

    can we get these an alerts on our cell phones when they come up?

  • pipasita

    can we get these an alerts on our cell phones when they come up?

  • delbertino

    I have nearly bled down 80% of a practice account and have realized that I must be doing everything wrong, way too much. I have not kept track of accounts and made way too many trades. Help! I find that there are many bad guys out there as I spend downtime watching “You tube”videos. Thanx. (first time noobie)

  • delbertino

    Unbelievable! Thanx. I will do it.Tell me what your think of bots?

  • delbertino

    I have nearly bled down 80% of a practice account and have realized that I must be doing everything wrong, way too much. I have not kept track of accounts and made way too many trades. Help! I find that there are many bad guys out there as I spend downtime watching “You tube”videos. Thanx. (first time noobie)

  • delbertino

    Unbelievable! Thanx. I will do it.Tell me what your think of bots?

  • delbertino

    I am tangled up in stops and so forth and can’t figure how to use “fibonacci” tool on dealbook360.

  • delbertino

    I use the fxcm and loved it but can’t remember what happened.

  • delbertino

    I am tangled up in stops and so forth and can’t figure how to use “fibonacci” tool on dealbook360.

  • delbertino

    I use the fxcm and loved it but can’t remember what happened.

  • truncheon

    WOT no replies

  • truncheon

    WOT no replies

  • usalchemist

    “Trade lots in multiples of 2″ is a popular practice by many trading teachers. Simply put, it’s just a way of saying if the price goes in favor of your direction, yet not fully reaching your expected Target Price (TP), you may consider close half of the position for a small win, leaving the other half of the original entry keep floating until it reaches your original TP, which was referred to by Pipcrawler as TP2. It is based on the assumption that your initial exit, TP1, has a high rate of beating the S/L. In other words, say the TP1 is exactly equals the S/L, then you better have a very high rate of reaching TP1, or else, even a 50% chances of reaching TP1 would make your overall trades more likely to be resulting in losing cuz’ every time the S/L was hit when the price fails to hit the TP1, you may lose more than win, unless, of course, TP2’s profit ratio is so high that it is capable of offsetting the losing.

  • usalchemist

    “Trade lots in multiples of 2″ is a popular practice by many trading teachers. Simply put, it’s just a way of saying if the price goes in favor of your direction, yet not fully reaching your expected Target Price (TP), you may consider close half of the position for a small win, leaving the other half of the original entry keep floating until it reaches your original TP, which was referred to by Pipcrawler as TP2. It is based on the assumption that your initial exit, TP1, has a high rate of beating the S/L. In other words, say the TP1 is exactly equals the S/L, then you better have a very high rate of reaching TP1, or else, even a 50% chances of reaching TP1 would make your overall trades more likely to be resulting in losing cuz’ every time the S/L was hit when the price fails to hit the TP1, you may lose more than win, unless, of course, TP2’s profit ratio is so high that it is capable of offsetting the losing.

  • zonedin

    Great advice; As a beginner I have used this technique a couple of times and has worked out well. I am solely into my gauges except when the standard deviation picks up. I am learning how to read the line without them but they come in handy on short term or day trades. I am drawing trend lines only from what I see on the chart and have no formula for future predictions yet. I have not mastered future charting predictions yet as newbie. I follow the hourly system and rely on other websites for my charting. Any advice of how draw future predictions on charts would be great. I am clueless in this arena. Other than that having a micro account I have gone long on EUR/NZD $2.17 at last price hope to see 2.24 or 2.28 from its history. If it takes a dive I will exit the position quickly! I also like CHF/JPN and have gone long for a position of $94.00. It’s last price position was $90.386 so; I have long wait I guess. From my research history it may hit $100.00 however reports of slow exporting may change this. If anyone has owned this currency before and familiar with it’s swings I’ll take any advice as newbie on it. So far trading is fun but can be stressful when things don’t go as planned. I try to read all the posts to learn new things and it has been interesting so far. Until financial disaster strikes I will be regular poster. ZONEDIN

  • zonedin

    Great advice; As a beginner I have used this technique a couple of times and has worked out well. I am solely into my gauges except when the standard deviation picks up. I am learning how to read the line without them but they come in handy on short term or day trades. I am drawing trend lines only from what I see on the chart and have no formula for future predictions yet. I have not mastered future charting predictions yet as newbie. I follow the hourly system and rely on other websites for my charting. Any advice of how draw future predictions on charts would be great. I am clueless in this arena. Other than that having a micro account I have gone long on EUR/NZD $2.17 at last price hope to see 2.24 or 2.28 from its history. If it takes a dive I will exit the position quickly! I also like CHF/JPN and have gone long for a position of $94.00. It’s last price position was $90.386 so; I have long wait I guess. From my research history it may hit $100.00 however reports of slow exporting may change this. If anyone has owned this currency before and familiar with it’s swings I’ll take any advice as newbie on it. So far trading is fun but can be stressful when things don’t go as planned. I try to read all the posts to learn new things and it has been interesting so far. Until financial disaster strikes I will be regular poster. ZONEDIN

  • born2rich

    hi please show me how to draw ema trend line on my chart, please how the accurate to draw on 15 minute and 1hour chart.
    and tell code to draw MACD on my chart to give me correct signal during my trading. born2rich. love you all;

  • born2rich

    hi please show me how to draw ema trend line on my chart, please how the accurate to draw on 15 minute and 1hour chart.
    and tell code to draw MACD on my chart to give me correct signal during my trading. born2rich. love you all;