10 PIP Stops


the golden gun

RINSE & REPEAT
I've always been fascinated with the idea of getting large R:R potential from INTRADAY setups. To me... that is how we turn on the afterburners for our wealth building trading machine!

This isn't to negate or draw focus from your typical 20-30 pip stop setups, but I would like to highlite for a few who might think of the 10 pip stop as a "voodoo" practice just how it can be done... using the same old tools and concepts you would be using anyway.

My first example is for a Cable short from today. There is 2 charts, one of the 15m CDR setup with "key resistance" marked in yellow, and the other a 1m chart showing the exact entry with the familiar OTE trigger.

Enjoy, and feel free to contribute 10 pip stop setups you spot yourself :)
 

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AusDoc

Well-Known Member
Yes, multiple time frame analysis, if used well, is very helpful.

Here is a thread with some of ICT's best teaching on this very topic. http://fxgears.com/forum/index.php/topic,55.0.html

Good luck with your precision entries golden gun, you sharp shooter. ;)
 

rod178

Well-Known Member
10 pips is my maximum, most stops are about 7pips

Basically I look for a price reaction pattern that straddles a predetermined horizontal KSR confluence. My favourite is a pattern on the M3 timeframe.
 

AusDoc

Well-Known Member
Piper said:
open eyes,look at 2nd chart top,tell me what you see.. >:D
G'day Piper

I see a Sell... :) ...but what golden gun may mean is that you appear to be long 1.0 and short 0.75 which makes you nett long 0.25 before the drop.
 
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Piper

Guest
yup..0.75 scaled out... want to see the 1.0's ticket exit? ;)
active position management in trading never hurts :) sometimes i can get greedy :count:
 

AusDoc

Well-Known Member
Piper said:
yup..0.75 scaled out... want to see the 1.0's ticket exit? ;)
active position management in trading never hurts :)
LOL... surely you're holding for the moon next week ;)

Yes, I love active position management. :)
 
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Piper

Guest
Depends on what my tarot cards in the crystal ball will tell me ..
 

the golden gun

RINSE & REPEAT
Piper said:
yup..0.75 scaled out... want to see the 1.0's ticket exit? ;)
active position management in trading never hurts :) sometimes i can get greedy :count:
The exit? for a maximum $60 gain? No, I'll just assume you got the best exit. Everybody wins :)
 

the golden gun

RINSE & REPEAT
July 29th Cable Short

Third cable short in a row!

This trade hasn't fully panned out yet, but has offered a 2:1 on a 10 pip stop already, so considering it worthy for the thread as is.

Simple LO (news-fuelled) stop run above CDR high, coinciding with OTE. 4H market flow was pointing down at the time of entry.

edit:
trade just hit 3:1 at the 1.27 extension
 

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Hopiplaka

My thanks go out to ICT - the life changer
Re: July 29th Cable Short

the golden gun said:
Third cable short in a row!

This trade hasn't fully panned out yet, but has offered a 2:1 on a 10 pip stop already, so considering it worthy for the thread as is.

Simple LO (news-fuelled) stop run above CDR high, coinciding with OTE. 4H market flow was pointing down at the time of entry.

edit:
trade just hit 3:1 at the 1.27 extension
Great trade. I was in at 1.6989 but just took profit because we reached the STD3 level, and 1.6952 is a strong 4H support level.
1.6880 (weekly OB) and 1.6820 (daily OB) are still areas that can be reached in this current downtrend.

Happy with what the market gave, but I'm on the sideline for now.
 

the golden gun

RINSE & REPEAT
Re: July 29th Cable Short

Hopiplaka said:
Great trade. I was in at 1.6989 but just took profit because we reached the STD3 level, and 1.6952 is a strong 4H support level.
1.6880 (weekly OB) and 1.6820 (daily OB) are still areas that can be reached in this current downtrend.

Happy with what the market gave, but I'm on the sideline for now.
Yup, I hear ya. If you notice the yellow line in my screenshot, that's the 4H support you're talking about. It's what I was eyeing as well. and Great trade to you too!

To me, this is just the appetizer. The real meat of the week is still to come...
 

Hopiplaka

My thanks go out to ICT - the life changer
Re: July 29th Cable Short

the golden gun said:
Yup, I hear ya. If you notice the yellow line in my screenshot, that's the 4H support you're talking about. It's what I was eyeing as well. and Great trade to you too!

To me, this is just the appetizer. The real meat of the week is still to come...
And if we factor in the 18EMA, you would still be safe with the 10 pip stop >:D

Ok, just kidding :) After watching the discussion on the other thread I decided to monitor it a little bit better, more as a confluence of the SR lines of course.
 

the golden gun

RINSE & REPEAT
Re: July 29th Cable Short

Hopiplaka said:
And if we factor in the 18EMA, you would still be safe with the 10 pip stop >:D

Ok, just kidding :) After watching the discussion on the other thread I decided to monitor it a little bit better, more as a confluence of the SR lines of course.
yeah, it's definitely worth monitoring on the Daily and Weekly charts. Generally, the EMA band isn't precise enough for me to draw a Key level off of, but like I tried to convey originally was that the convergence of the band into a narrow 10 pip window resulted in "abnormal" precision.

Basically I see the band as an Equilibrium of sorts. In times of extreme sentiment, Equilibrium aka Fair Value acts as strong support or resistance. So the whole premise was based on the price action I was seeing... 5 days of selling with consecutive lower highs. This led me to believe that if price retraced back into Fair Value (The EMA band) that it would meet strong resistance.

That's my full thoughts on the subject.
 

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the golden gun

RINSE & REPEAT
the golden gun said:
Third cable short in a row!

This trade hasn't fully panned out yet, but has offered a 2:1 on a 10 pip stop already, so considering it worthy for the thread as is.

Simple LO (news-fuelled) stop run above CDR high, coinciding with OTE. 4H market flow was pointing down at the time of entry.

edit:
trade just hit 3:1 at the 1.27 extension
And just for good measure, the setup hits 4:1 potential

2.5% Risk
4:1 Setup
10% Intraday...

Visualization of your trading account:
 

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