Yea, on the $30 account, my position sizing was way off and too risky. I was getting impatient and over trading a ton.
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and it will, at some point, according to the mean reversion principle - it always seems to me that the potential catch is that by the time the price returns to the MA (which it really will) the MA itself may have moved so far that your position is still in loss when it does 
indeed - exactly so 
So I had a couple winners today.
AUDUSD short ( on top of my giant losing short). this one, I caught a move down from 6812 to 6786. Had a stop set, but no TP. Worked out this time.
I also caught like 40 pips on a GBPCAD trade. Shorted at 1.7197 and closed at 1.7154. Sweet.
I’m still watching AUDUSD from opportunities on the way down. I also have a GBPNZD long at 2.0794. It’s sitting in an up trending channel. I’ve caught it more than half-way up, which hopefully works out. I usually get in at support or resistance. Did I just jinx myself?
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Are you trading both 5M and 1H at the same time? Or do you focus on just one, depending on the day?
lol, you make that sound almost like a “guilty admission”? 
for me, it would be normal: my trades are all trend-following, so i very rarely set a TP (would never trade without a SL though, obvs!)
Yea mostly watch the daily and 4hr, and then come down to the 1hr for trades. Then do the same on the 1hr and 15m and then trade on the 5m.
I’ve been using @AmericanTrader EMA channel strategy with some limited success. Some weeks feel like the market is always against my trade. It’s taught me to get those SLs in place at least, that’s for sure.
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Kinda of yea. At least on the 5m I miss some pips and the market and trade completely turn against me. Figured a TP would help not having to watch charts so long.
How often are you watching trades and do you hold overnight? Timeframe?
I got a nice entry on NZDUSD a bit earlier at .6196. Entry was at the bottom of a channel I marked up. So far up 20 pips, hoping to reach .6225.
Don’t worry, stop is in!
AUDUSD is also down, which is great for me. Still clawing back on the busted trade from the other week.
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i trade Tuesday, Wednesday and Thursday - am always watching (while doing other things, too) when a trade’s open
i don’t hold overnight
i use volume bars, not timed bars, so i think in “volumeframes” rather than “timeframes”, but as a rough equivalent, on average i think i’m typically using something approximating 3-hour bars to judge the directional bias and something approximating 20-minute bars to judge the entries - those are ball-park figures, anyway
I had to read this a couple time to get the gist.
Why the “different” time frames, like 3 hr and 20m when the normal is more like 2hr/4hr and 15m or 30m?
+134 pips this week! of course, I had about 60 something pips in losers. But that’s a positive week. So far.
Anyway, I currently have a AUDUSD short that’s down. And watching NZDJPY for a long. I’ll keep you posted!
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NZDJPY long was a bust, hit my stop, but I ended up taking 2 short positions and 2 AUD/USD short positions which all closed for wins.
NZD and AUD pairs were going nuts last night. Got lucky watching some key support and resistance levels and then just added to the original positions. Worked out this time.
Yen trades have been working out for me this week, so that’s where I’m focused right now. I currently have a short opened on NZDJPY. Entered at 87.12.
NZDJPY trade from last week was a bust. Started out nicely and then the Yen started doing crazy things and I hit my stop several times. Got emotional and entered a couple revenge trades and lost those too.
In the last week I’ve seen the Yen go on some random giant spikes, and every time, my stop gets hit. I was trading GBP/EUR/NZD Yen pairs and hit a string of losers. I think I might be done with those pairs for a bit.
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I’ve stuck with just trading EURUSD recently. Open a short yesterday that flipped on me overnight, down 30 pips. Price was moving back towards my entry, so I opened two more shorts that bagged 10 pips each.
Price is back to the entry on my original trade. I’m not too confident price will continue down. I think it’s more likely we move toward 1.10. Decisions decisions. There is some EU news coming out tomorrow that could push EURUSD down. I’ll set a stop and wait.
The trade is still there. Glad I waited. Currently +13.5 pips. Last 7 hours has been some consolidating. Not much going on. 10 pip range.
So these are the trades that always get me. Take me the pips and run? Or hold still. Price is at 1.0902. One of those psychological price levels.
DXY is right above the 200 MA on the daily. Not sure how to take the news releases of the past couple days and the fact the stock market was down today. Hard to make decisions.
And of course as I’m watching EURUSD on the 5m, the gains just got cut in half! Better move to a higher time frame.
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Well 3 winners on EURUSD, 2 winners on USDJPY and then another 2 stops hit on USDJPY. Overall up for the week.
Currently down on a EUDUSD short. Not much going on after this morning really.
Been spending some time looking at myfxbook to see if there’s anything interesting there.
Most of my trading is done Tu-Th. Most winning trades happen between noon and 4pm. I think that’s more about when I do most of my trading. So if i’m not really trading at 8am, how would I be winning trades at 8am, right?
Most my wins have come on EURUSD, but my losers are too big, so I’m not actually profitable
Cool stats.
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picked up a nice move from last week on GBPJPY. I know I said I wasn’t trading on those, but the opportunity looked good. And I caught 75 pips when all was said and done. I could have closed out at like 90 pips, and probably should have, but my stop was set. Anyway, it’s a win.
Also got stopped out on EURUSD. There was a giant candle on the 5 min. I was looking for the pullback that came, at just over 10-12 pips. Didn’t pull the trigger and got stopped out. Part of the game.
So now I’m looking at a long EURUSD trade for the week. USD is sitting outside of a channel on the daily I’ve been watching, The euros at the bottom of another channel, so maybe these two will have a chat and put me a good position to make some pips.
And we got some weak US econ data too today, so says TV on my chart. Boom.
From what I’ve seen you post in the last week or so, you’ve been doing pretty well.
I still have my eur/usd buy trade open from a couple of weeks ago. Just need maybe two more green daily candles to make a tidy profit.