Price Action Reversal System - Live trades with myfxbook verification - Page 2
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  1. #11
    Join Date
    Mar 2016
    Posts
    1
    Interesting thread. Would like to see how you take these trades

  2. #12
    Join Date
    Feb 2017
    Location
    Canada
    Posts
    17
    Quote Originally Posted by usmaan516 View Post
    Interesting thread. Would like to see how you take these trades
    Thank you for your interest.

    My plan is to show another profitable month (or two) with consistent Risk Management, and then delve into trade setups.

    MM

  3. #13
    Join Date
    Aug 2015
    Location
    Singapore
    Posts
    100
    Nice system

  4. #14
    Join Date
    Feb 2017
    Location
    Canada
    Posts
    17
    Quote Originally Posted by Alanlim3 View Post
    Nice system
    Thanks Alan! Stay tuned!

  5. #15
    Join Date
    Feb 2017
    Location
    Canada
    Posts
    17
    EURNZD short
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  6. #16
    Join Date
    Apr 2014
    Location
    Panama/Costa rica
    Posts
    142
    Quote Originally Posted by MysticFXFX View Post
    EURNZD short
    Name:  EURNZD.jpg
Views: 14
Size:  37.0 KB
    My question to you is "How do you figure that the 78.6% is resistance? Especially considering the fact that you have more 100% retracements (Cup and handle formations) then you have 78.6 touch and bounce off of!

  7. #17
    Join Date
    Feb 2017
    Location
    Canada
    Posts
    17
    Hi MasterKiwa,

    Thanks for your interest.

    Clearly at this point, that particular trade was wrong.

    However to answer your question, it is a matter of picking the appropriate Time Frames & Price Ranges, followed by Price Action into the area.

    I will elaborate in the future with details, difficult to answer in a few lines.

    Thanks for your interest!

  8. #18
    Join Date
    Feb 2017
    Location
    Canada
    Posts
    17
    Hello everyone,

    I accidentally placed a 50x position size trade in this MT4 account instead of my main MT4 account. Both MT4 accounts were open on my desktop and I mistook one for the other. This is resulting in huge volatility for a demonstration account, obviously.

    If the trade hits Profit, it will result in account more than doubling in value, and Stop Loss will result in over 50% loss. Either way it is not representative of how I trade, and I apologise for this error.

    The intention of this account was to demonstrate a clear equity curve rise with minimal drawdowns, not a roller coaster ride - whether positive or negative. I'll most likely manage this trade as if it was in my main account, and have to restart another Live demonstration account. (I do not link my main trading account).

    Stay tuned, and I apologise again for this error.

  9. #19
    Join Date
    Apr 2014
    Location
    Panama/Costa rica
    Posts
    142
    Quote Originally Posted by MysticFXFX View Post
    Hello everyone,

    I accidentally placed a 50x position size trade in this MT4 account instead of my main MT4 account. Both MT4 accounts were open on my desktop and I mistook one for the other. This is resulting in huge volatility for a demonstration account, obviously.

    If the trade hits Profit, it will result in account more than doubling in value, and Stop Loss will result in over 50% loss. Either way it is not representative of how I trade, and I apologise for this error.

    The intention of this account was to demonstrate a clear equity curve rise with minimal drawdowns, not a roller coaster ride - whether positive or negative. I'll most likely manage this trade as if it was in my main account, and have to restart another Live demonstration account. (I do not link my main trading account).

    Stay tuned, and I apologise again for this error.
    It happens my friend. Hopefully it hits TP, but if it doesn't I can assure you that everyone will look at your system like POS ignoring the mistake which you have committed. When ever one enters a trade by mistake, it is best to just close instead of trying to hit BE.

  10. #20
    Join Date
    Feb 2017
    Location
    Canada
    Posts
    17
    Quote Originally Posted by MasterKiwa View Post
    It happens my friend. Hopefully it hits TP, but if it doesn't I can assure you that everyone will look at your system like POS ignoring the mistake which you have committed. When ever one enters a trade by mistake, it is best to just close instead of trying to hit BE.
    Thanks for the response MasterKiwa. I closed the trade in 0.25 Risk of loss just before FOMC today, so THIS account is still saved LoL. Regardless I will likely move funds to a new account and start anew. My issue is not the Drawdown; its the VaR which would be irreparable. You simply cannot risk the full account on one trade, it results in unsustainable volatility.

    In regards to people thinking the system is a POS over this error: I think with time, they'll come around. And if not, its no big deal. I'm doing this for free.

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