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    Brijons Pit Bull Trading For Dummies

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    sukru
    The document provides instructions for using Brijon's Pit Bull Method for forex trading. It describes entering initial buy and sell positions as indicator trades, then watching for a bottom line pair to become consistently profitable and entering a larger trade in the same direction. It emphasizes managing drawdown and only taking additional trades when drawdown is acceptable.

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    Brijons Pit Bull Trading For Dummies

    Uploaded by

    sukru
    15 views3 pages
    The document provides instructions for using Brijon's Pit Bull Method for forex trading. It describes entering initial buy and sell positions as indicator trades, then watching for a bottom line pair to become consistently profitable and entering a larger trade in the same direction. It emphasizes managing drawdown and only taking additional trades when drawdown is acceptable.

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    Brijons Pit Bull Trading for Dummies

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    The document provides instructions for using Brijon's Pit Bull Method for forex trading. It describes entering initial buy and sell positions as indicator trades, then watching for a bottom line pair to become consistently profitable and entering a larger trade in the same direction. It emphasizes managing drawdown and only taking additional trades when drawdown is acceptable.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    15 views3 pages

    Brijons Pit Bull Trading For Dummies

    Uploaded by

    sukru
    The document provides instructions for using Brijon's Pit Bull Method for forex trading. It describes entering initial buy and sell positions as indicator trades, then watching for a bottom line pair to become consistently profitable and entering a larger trade in the same direction. It emphasizes managing drawdown and only taking additional trades when drawdown is acceptable.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Brijon’s Pit Bull Method for Dummies:

    Step 1: Enter the following five buys and five sells into your MT4
    platform:

    Buys:

    AUD/USD
    NZD/USD
    EUR/GBP
    EUR/USD
    GBP/USD

    Sells:

    USD/JPY
    NZD/JPY
    EUR/JPY
    GBP/JPY
    AUD/JPY

    The above ten trades are your “indicator dashboard” or your “indicator
    trades.”

    Step 2: Click on the “Profit” column so that the highest loss is on the
    top and the lowest loss (or greatest profit) is on the bottom.

    Step 3: A few hours after you have put the above 5 buys and 5 sells
    on, you should see a profit (or very small loss) on the bottom line.
    This is the first currency pair you are going to trade.

    The way that you trade this bottom line currency pair is to check to make
    sure the bottom line currency pair is stable in profit. In other words, that
    currency pair may alternate between negative and positive for a while, but
    once it remains positive then

    A) close that trade (take the profit) and

    B) enter an order that is a little bigger than your previous "indicator


    trade" on the same pair that you just took profit on.
    C) The bottom line tells you which direction to enter the currency pair on
    the bottom. Simply go in the direction of the bottom line currency pair.
    If it is a buy (such as AUD/USD or any of the other four buys) then
    you enter your first order long. If it is a sell (such as USD/JPY or any
    of the other four sells) then you enter your first order short. This order
    is for .04 lots.

    Here is an example: let's say a few hours after active trading your
    “indicator trades” are showing AUD/USD on the bottom line, and that
    currency pair is showing a small profit, and remaining profitable. You
    would then simply enter your first order as a buy on AUD/USD, and
    use a bigger lot size than your “indicator trades.” If you use .01 lots
    on your ten “indicator trades” then use .04 lots on your first real trade
    (long AUD/USD).

    Step 4: Continue this process over and over; waiting until the bottom
    pair is in consistent profit, then close that trade (take the profit) and
    re-enter. As you take profit on your first size of .01, you re-enter at .04. As
    you take profit on your .04 size lot, you drop back down to .01

    Step 5: Manage drawdown. This is a work in progress, but an excellent


    place to start is this video from Brijon:
    http://www.forexfactory.com/showthread.php?p=5128506#post5128506.

    General notes: You only take trades that are exhibiting profitability, that is,
    position 10 (the bottom position) on the Pit Bull indicator. Once the trade is
    opened, it can immediately climb out of the bottom three positions and
    show a loss. If it then it falls back into the bottom three positions (8, 9 or 10)
    look for stable profitability (say 20 seconds), then take profit.

    If the trade does not go to profit, manage the drawdown. Only take profits if
    drawdown is acceptable, profitable trades will "hedge" drawdown and (3)
    continue to take profits when drawdown returns to an acceptable level.

    As Brijon repeatedly states: "Managing the drawdown is key".


    This method can be improved even more, when placing a trade, we should
    have a maximum DD for each trade and then hedge position and then
    whichever way we are making money, move into that position and once
    daily target has been reached... close all positions and rinse and wash and
    compound this!

    The system will not work correctly if you use two separate accounts (one
    for indicator trades and one for the others you add) because you need to
    also control the DD within the single account and both indicator and add on
    trades cumulatively affect your overall DD or profits.

    If you place your add on trades on their own account and the trend
    changes you will struggle to keep the DD under control. The other indicator
    trades are required to help offset the DD as current trends change.

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