138 GBP/USD PIP Short Profit — No problem. I really enjoy this forum because of what I have learned and hopefully what I can contribute. Market has again broken further to the downside. Hope it keeps on descending. This system has demonstrated ...

Part Time Wealth Building Trading System

One way to avoid the choppiness during flat markets is to only execute a Long trade when the RSI is above 50 and the closing price is above the 50 SMA High. The opposite would be to only execute a Short trade when the RSI is below 50 and the closing ...

Part Time Wealth Building Trading System

Read my recent post carefully. I have posted losers as well as winners since I previewed this system at this forum. What I will not post is my complete history of trading because it will establish false expectations for other traders due to varying ...

Part Time Wealth Building Trading System

Trading Through Drawdowns — All systems eventually create an account value drawdown. Drawdowns are sustained periods of predominately losing trades. With each and every closely occuring lossing trade, a trader can begin to lose confidence in ...

Part Time Wealth Building Trading System

GBP/USD Narrow Trading Range — The GBP/USD has been trading in a very narrow range since 1 Dec 06 (1600 GMT). Narrow trading ranges invite drawdowns for this trading system. The best cure is to trade through the drawdown back to profit ...

Part Time Wealth Building Trading System

Reducing Stop Loss To 30 PIPs On This Trade — With the current gain of 45 pips on this trade, I am reducing my stop loss exposure to 30 PIPS or 1.9799...

Part Time Wealth Building Trading System

Short GBP/USD 1.9769 - 264 PIP Profit Taken - 50 PIP Whipsaw Enty Loss — Yes on GBP/USD. Short at 1.9769. 264 PIP profit taken from previous trade. Also took a 50 PIP loss on the whipsaw when entering this trade this morning. This is ...

Part Time Wealth Building Trading System

While backtesting is a good starting point, it is impossible to back test the real time emotions of executing a trade with this system or any system. Mechanical back tesing produces mechanical results which are devoid of emotions and psychological ...

Part Time Wealth Building Trading System

This system can be adjusted to profit from just about any pair. You would need to backtest (did I say that???) to find adaptable parameters and then paper trade for at least 2 -3 months. The only parameter that I would adjust is the RSI. Typically ...

Part Time Wealth Building Trading System

This seems like a good time to add more to your position, but my personal style does not permit adding anything to a position once it has caught a trend. For my style of trading, I would not enter any more positions. I only execute trades when the ...

Part Time Wealth Building Trading System

You got it. See how the market looked like it was going to decline and in fact continue climbing? This is the beauty of this system... Happy Trading, Tkimble

Part Time Wealth Building Trading System

Providing it was the first time that the RSI broke 50...

Part Time Wealth Building Trading System

Long Since 30 Nov 06 — No. I have been long since 30 Nov 06 at 0730 GMT (1.9505) GPB/USD. Still waiting for short signal. Currently enjoying 254 PIP gain as of this typing... I do not add to my position once established. Happy Trading, Tkimble

Part Time Wealth Building Trading System

GBP/USD Nearing Short Trade - 240 PIP Profit For Now — As of this writing (1530 GMT), the GBP/USD has slipped below the LOW moving average but the RSI is still slightly above 50. GPB/USD is hinting at short trade but no trade signal yet. Happy ...

Part Time Wealth Building Trading System

Nice read. But as you can see, it did not happen just yet. The psychological and emotional feeling a trader exhibits when preparing for a trade were all suggested in your posting. But, the system would have prevented you from making this trade, ...

Part Time Wealth Building Trading System

Great question. Sorry for the confusion. My goal is 200 PIPS. The purpose of the trade data is to simply report acutal results and illustrate the amount of potential profit is available. Hope this helps, Tkimble

Part Time Wealth Building Trading System

1. The ATR is primarily a money management tool that is used to determine how many lots or percentage of lots should be traded based upon a risk quotient that is compatible with your particular comfort zone. 2. Simple Moving Average 3. The "Close" ...

Part Time Wealth Building Trading System

No. I did well with the SP500. "Cutting my Teeth" simply means where I learned a style of trading that is compatible with my emotional and psychological constitution... Happy Trading, Tkimble

Part Time Wealth Building Trading System

No. I adhere strictly to the system. I have been in trades where 30%, 40% even 100% of my profit has evaporated becuase that is the nature of the system. But it is this type of blind faith in the system that you must have to enjoy the long trends ...

Part Time Wealth Building Trading System

Cannot backtest emotions and the psychology of trading. I have two examples on private messages with people who have successfully taken the signals from this system and prematurely abandoned a great trade. This is why I am not a big fan of back ...

Part Time Wealth Building Trading System