Forex trading strategy #5 (5x5 Simple system)

quel sont les règles de sortie merci

What are the exit rules thank you

there are some thoughts on page 4 and 8.

Hi Edward great system.

Forgive me for not understanding this as I am new to trading.

What do you mean by 10 pips? Isn't 10 pips only like 1.33000 to 1.33010?

On the daily chart each candle moves hundreds if not thousands of pips. I saw a candle go from 1.3300 to 1.4770 in one day.

So what do you mean by 10 pips.

Please clarify!

Thanks a lot.

Guys can somone please help.

How much is 10 pips?

Cuz on the daily chart if im not mistaken, candles move hundreds if not thousands of pips!

In your example 1.33000 to 1.33010 equals only 1 pip, because your trading platform gives you 5 digit quotes, where the last decimal digit is 1/10 of a pip and called "pippet".

1.33000 to 1.33010 = 1 pip (5 decimal quotes)
1.3300 to 1.3301 = 1 pip (4 decimal quotes)

To get 10 pips, the price has to go from 1.33000 to 1.33100 (simply disregard the last digit for an easier reading when you deal with 5 decimal quotes.)

Kind regards,
Edward

Dear Edward,

But on a pair like CHFJPY, which has a value like 86.581, how we define a pip ?

Thank you, Corneliu

Hi Corneliu,

with CHFJPY 86.581, you have next:
the last digit "1" is a pippet, e.g. 1/10 of the pip (or 0.1 pip). You can ignore it when trading.

Work with the rest of the digits:
86.58 + 1 pip = 86.59
86.58 + 2 pips = 86.60

Best regards,
Edward

Hi Edward,

I am new in trading. Would like to check, if the signal candle is valid, then when next day comes, other conditions are not fulfilled (e.g. no +10 pips or RSI not in accordance), however, after a few more days, all other conditions are also fulfilled, so then can we consider this a valid trade for entry?

In other words, there are a few candles between the signal candle and valid entry point.

Thx/rgds,
Scofield