Hi TC HOLLAND it took me about three years before it all started to change, by this time i had tried everything, systems and so call tricks i can think of. Everyone is different because of the time you have to dedicate to the work . Waiting period is one of the hardest thing for any trader . When you have a plan for the trade , you have to remind yourself constantly of it, that is how i deal with the waiting. Many trades uses NY time and a 5 day charting . I most say , i don’t trade pairs with such high spreads, it is to hard to make money that way on a consistent manner for me. I feel you are just about to break out and make good money. Remember is not about hitting a home run in every trade.
Hi TC Holland,
Nikata’s PA is perfect enough to make profit,
I write Nikata’s PA strategy into my EA , it work well.
Focus on pin bar at h4 ,enter at half of pin bar.
Eurgbp two pin to show chance to long.
Gbpusd pin bar at 1.44973, short at half pin bar by my EA.
Now pin bar at bottom arrow, show long chance, but need check day/week bias,
by Nikita’s strategy.
Everything is ok, if we can follow Nikita’s strategy:
1, pick most clearest pair
2, check day and week bias
3, wait pin bar formed at h4
4, wait price retest half pin bar, and enter at half pin bar
Thanks Tonyro44 I have the feeling that I am on the right track but it is a process of continuously improving myself and finding my weak spots.
BTW I didn’t know the expression “Rooting for” You are even helping me with improving my English Thanks for that too
Hi TC,
I think 50-60 pips SL is more than enough to good risk:reward.
Just for an example, hope it will work according to the plan.
EUR/CHF
Looking to short between the two horizontal line. Red horizontal line is SL around 50-60 pips and green horizontal line is TP around 100-110 pips.
Let’s watch the market now.
Hi Sheldon
I did a lot of testing with EA but I am convinced the human brain is a better computer but it need time to sleep eat or do other things. Yes trading is about emotions to and computer don’t have this problem. But do you look at your EA when it is trading? Do you interfere? Because that is how emotions come back in the trade again.
Does your EA take care of Risk, Money Management and position sizing to?
Does it look at S&R
How long are you testing it and what are the results? Do you share it?
I saw somewhere your results of your trades and I can imagine that you have emotional problems. I will try to trade bigger position very slowly I have to get use to that and I am imaging how my trades are when I trade 10 times or 100 times bigger positions It looks nice for the profits but when not…UHHH
That is why I am looking to be more consistent, if you can trust your system you can handle the emotions to I think.
I looked at the same pair this morning BUT for long I marked the same area as you did but put TP there I didnt take the trade because it was against WK bias and RR was not very good. just watching
Hi TC Holland,
I donot look at EA frequency when it is trading, not interfere.
do you remember i comment eurgbp ea short +80 pips and BE,
I observe two pin bars formed at h4, market turn strong long,
but i don’t close ea’s order to get 80 pips profit, finally EA BE out.
I trust ea.
EA take care of risk, when it take profit from trend , it will defence
when oscillate. and when it take profit from oscillate, it will defence
when trend. Two strategy exchange when market change.
i don’ t let ea manage money and lots. when ea meet takeprofit, i add 0.01
lot to ea, when stoploss, minus 0.01. when consistent loss, exchange strategy.
the below is ea backtest during 2015 year.
Hello everybody, how are you guys, hope you are doing great on your trading.
Hi Sharebazar,
I have a small loss and trying to find out what is wrong in my trading I am loosing to many trades I think more then 60% or 70% of my trades
How are you doing?
Hi TC,
I am doing good so far. Good week for me just 1 loss out of 4 trades.
Are you opening trade early or late.
Is your stop loss too tight.
Are you adding to your loosing trade.
Are you closing your trade too early or too late.
Do you know what is your main problem?
You should have 60-70% winning trades not loosing trades.
How many strategy you are trading now.
hi sharebazar,
this month is good, i’m calm down, it’s comfortable to use position size with 0.01-0.3 lots and consistent profit,
but when i want to use 1 lot , it make me the max drawdown this month.
it’s my weak to use 1-5 lots, i want to ask you how to reach this success using 1-5 lots.
i catch any profit chance whatever it is scralping, swing, position, trend following.
Hi Sheldon,
Good question, I have faced the similar situation.
What I am doing now is, I divide my lots in half. When I get an entry signal I open half position and scale in other half when price move according to my predicted direction when price pullback on smaller TF.
Suppose you open 1 standard lot which 1% of my total capital, but open 0.5 lots first then add other half later. This way if my entry is wrong and stop out then I will only loose 0.5% not 1%.
You can open with small lots then scale in slowly that way you avoid big drawdown.
Another things don’t try to catch every move because you will get mixed results.
Do you records your trades, do you know which strategy is giving you more winning trades then loosing trades, and how big is your winnings and losing trades on particular strategy.
hi sharebazar,
good advice, thank you, i will try scale in position size in position strategy.
I do some statistic: (except big position 1 lot loss)
- swing strategy has bigger loss, stoploss is 30-50pips,
once meet ts, loss is big - scalping is secondly loss, 5-10 pips, making profit is fast
- position strategy is not loss, but making profit is slow,
even 500 more pips profit for usoid - trend following is also good.
Money management is key to having a successful life and more importantly having a few strategy in money management as well. Sharebazar is doing 1/2 now and half later if the trade is going his way is an excellent way to maximize your trade. QUOTE=Sheldon zhang;755597]hi sharebazar,
good advice, thank you, i will try scale in position size in position strategy.
I do some statistic: (except big position 1 lot loss)
- swing strategy has bigger loss, stoploss is 30-50pips,
once meet ts, loss is big - scalping is secondly loss, 5-10 pips, making profit is fast
- position strategy is not loss, but making profit is slow,
even 500 more pips profit for usoid - trend following is also good.[/QUOTE]
Hi Sheldon,
For improve risk management, when you have high winrate in any strategy like less losing trades and less frequent drawdowns, you can use a larger position size.
When you have low winrate like larger drawdowns and more losing trades, you can reduce your position size.
Hope you understand.
Thanks Tonyro44.
We cannot control the outcome of a trade, even the best setup can fail but we can control how much we want to loose in single trade.
Hi Sharebazar,
Good questions and to be honest I don’t know all the answers.
Are you opening trade early or late. To early not always waiting for signal or conformation How do you do this?
Is your stop loss too tight. I think not but maybe moving it to BE to soon Try not to.
Are you adding to your loosing trade. No never
Are you closing your trade too early or too late. I have trades that miss TP on a few pips and then hit SL
I am not sure what is my main problem It looks like I am to many times in a trade at the wrong direction. Reading bias wrong?
I stick to Nikitas strategy but with daily or weekly bias Do you use different strategy’s?
I checked my stats for the last 3 months: 43.6% winning trades (56.4 % L)
Thanks for your help Sharebazar.
Hi Sheldon zhang,
Good to see that you are doing well I am also impressed by the results of your EA.
Like Tonyro44 said Money management is key to success. How you know what position size you go to use for a trade? Is it a fixed lot size or a percentage of your balance? From your answers I think you use the fixed lot size for your EA
The percentage method will give a better result according Mr Tharp. It will also reduce your max draw-down
hi TC Holland,
there are still two weaks for my ea:
1, exit with most reasonable profit
2, money management
before i think out perfect solution to fix it,
i will interfere the exit point, and when one pair fit for ea,
let ea consitent to meet takeprofit, i will add 0.01 lot to this pair’s ea.
For manual trading, sharebazar’s money management is good to execute. but one important thin is that scale in position size should only be applied to more than 100 pips profit, best at position strategy.
if winning rate is less, bias judgement should be impro
only trade the most clearest pair.
Nikitafx, have you ever thought of doing a tutorial video?
thx