Pluto Signals will be aiming to provide 10 - 50 pips a day. Doesn't sound like much does it? But as simple as it seems, a LOT of people are unable to achieve that goal.
We will be looking for a maximum of 4 calls a day, so if our target range is hit, even in just one trade, then there will be no further signals for that day (by principle). This is for several reasons. No one likes being tied to their PC for hours on end (sometimes it feels that way with Jupiter Signals in the current markets @.@).
Goal setting is EXTREMELY important in any endeavour, and especially so in trading. Overtrading leads to bad decisions and burn out real fast. By setting a target goal of pips AND maximum trade number, we are limiting the risk of overtrading.
Risk? Oh yeah that! Basically, it will be straight 1:1 Risk/Reward. This is to help me maintain a timely signally service, and also keep the email message content to a minimum. For example, if the signal comes in :
Pluto Signal is there just to highlight that this is indeed the Pluto signal (as I am sending from jupiter.signals@...). Hopefully this won't confuse anyone. :)
The pair being highlighted, in this case, the EURUSD appears next in line.
BUY/SELL should be fairly self-explanatory.
10pips refers to the target pips for this specific trade.
(1.4880) Is simply meant to be a reference price. Showing the indication price that I am using at sending the email. This does not mean that if you can't get this price, the trade is void. Trading signals are meant to be an aid or supplement to your own trading portfolio. Use your own analysis to determine if by the time you finish checking the charts, that you can still achieve your target. In most cases, however, there will be more than enough movement to cover the initial target pippage and more!
During the Jupiter Trading System, while waiting for Divergence entries to form, other trading chances often appear. Support/Resistance bounces, triangle breakouts, Divergence, any number of opportunities. But as they are not part of the Jupiter Signal Trading System, cannot be sent on behalf of them.
As the final format has not been decided, the [PLUTO SIGNAL] may simply be replaced with the pair in question.
OK, so wew have the signal, onto how to handle it. Everyone has their own acceptable levels of Risk/Reward based upon their own account size and analysis. However, the following is a guide as to how Pluto Signals can be managed.
As you can see in the table below, the idea of this is to mitigate Risk as soon as possible. Once a certain number of pips have been achieved, the trade will either be closed entirely, break even locked in, or in cases where 30+ pips are targetted, Break Even + Profit will be locked in.
Note : Target Pips of 30pips should be Close at +30, not as shown above.
Here is a quick look at the progress so far in the last couple of weeks.
I have been blessed so far with only one loss. But you can see so far how even short targets can add up to decent rewards. Obviously, this is but a couple of weeks worth of data, what is important with any trading plan or strategy is long term results. Even good systems have bad days/weeks/months!