Price Action Reversal System - Live trades with myfxbook verification

Nice trade. Seems you have a similar style to me.

AUDJPY setup I’m stalking. We’ll see if the market co-operates :slight_smile:


Price Action Reversal System - end of week update:

DD higher than I like, adjustments have been made.


EURCAD short. Beware of BOC news tmrw, risk will be adjusted accordingly.


Live trade concluded

before

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after


Another Loonie short, expressed in USDCAD.


A new loonie short


Interesting thread. Would like to see how you take these trades

Thank you for your interest. :slight_smile:

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

MM

Nice system

Thanks Alan! Stay tuned!

EURNZD short


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!

Hi MasterKiwa,

Thanks for your interest.

Clearly at this point, that [I]particular[/I] 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!

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.

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.

NZDUSD short


When price reaches 0.7050, a management decision is to be made.

  1. Take partials, hold for full profit on remaining position do NOT adjust SL.

  2. Set SL to Breakeven and hold for full profit; risk on position is now zero, but you are vulnerable to a whipsaw.

MM

NZDUSD now - Partial profits taken, holding partial for rest with SL set to BE.


Stalking GBPAUD: Like a predator stalking prey; we don’t jump at every opportunity, only the ones with a High Probability of payoff.

Lets see if this one turns into a High Probability Setup.