Hey there.
I just the whole discussion, very interesting. Can you please update on your account balance as of now?
Update: Here’s how it looked with Friday morning’s chart using PSAR at 0.0009 / 0.3. Excellent profits!
ah okay.
I’m working on this since you mentioned it. Just need to keep track of the rules!
Get on it, samewise.
61 pips today.
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My balance? Oh I only started with $30 from a signup bonus I got months ago from trading.com. I lost nearly half, then gained back 50% of my loss, and then lost some more. I’m not so mad about the losses. More mad about keeping trades open that didn’t hit my targets that eventually got stopped out.
I had some big positive trades, like 50 pips and 75 pips and over 100 pips that I didn’t close because I was stuck on hit TPs instead of maybe spending more time watching the trades during the day.
I got stuck in wanting to keep my R:R positive I guess rather than be flexible.
I’m sitting at a cool $17.87!
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That’s awesome!
This running from your scalping strategy, right? I’m gonna read over this weekend and start it up next week!
UPDATE: Reading it now, @AmericanTrader!
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It was great to see your name pop up on the forum over there. Happy New Year to you
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So I decided to look at my trades since the start of the year.
29 trades. 14 winners. 15 losers
Biggest reasons I’ve come up with that caused most losses:
- not sticking to the trading plan, not following entry rules
- Revenge trading, being impatient ( not sticking to the plan again)
- Setting bad/no stop loss (at least trades earlier in the month, better now)
Must do better!
I think the 5 min timeframe might be too fast for me. I’m going to jump up to the 1hr and see if my performance changes any. I think with the 5 min, my SL needs to really be dialed in, and I’m just starting to get a good handle on how to set that.
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Losers were 38% more than winners, so that’s not good. There were a couple bigger losers compared to the biggest winners.
Just opened a short on USDJPY using the scalping strategy I’ve been trading for a couple of weeks.
Got the signal and I entered at 130.07. SL at 130.14, (I’m learning!), top of the candle before the signal candle. I’m still working that whole topic out, so we’ll see how this goes.
RR of 1 gets me down to 129.97.
I’ll keep you posted!
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Got stopped out. Price reversed and I got in a couple pips above my SL. Signal got repainted to no signal.
But USDJPY started moving, so I got in. A buyatches the higher timeframe trends, higher low and higher high.
So far +15 pips. Moved my SL, locked in 5 pips.
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Closed for +17 pips.
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Trying out the scalping strategy on the AUD and NZD pairs. AUDUSD flashed a buy on the 1hr so I’m in. Previous buy signals have looked good. Let’s see where this goes!
Entry at 0.7053. SL at 1.5 ATR. Crossing fingers!
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Still in my trade. 30+ pips and still moving .
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Couple of big wins last week and then just a few losses. It’s getting better, which is progress! I missed trading the rate decision, but thinking back now, that was probably for the best. Crazy candle action. I got a couple trades in after the big news, so that worked.
Just got in a USDJPY long trade. I have two zones mapped out from last week or the week before that price is bouncing between on the daily. Price hit 132.90, came down and jumped off 130.46, so I’m hoping we move back up towards 132.50-132.90. Entered at 131.14 and have a 75 pip SL.
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So we’re moving in the right direction. Up 25 pips about! Moved my stop up a bit, not yet at BE, but getting there!
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Well, looking at the 1hr, I wonder I should move my SL back to where I had it. Wider is better right?
I wonder if price will come down first between 130.60 and 130.85 before moving up. I mean it could literally do anything between my entry and my TP. So is it worth moving my SL down 25 pips so I don’t get stopped out?
Decisions decisions. I’ll leave it as is. Preserve my capital.
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Crap, was up close to 60 pips and then got stopped out last night.
By the giant 110 pips wide candle at 12:45am! Had I moved my stop back to where I had it 130.70, I would have survived another 7 hours.
And guess what, it did and blew up my stop!
At least my brain is thinking more like the market.
So… what to do next time? Multiple TPs? Scale out some profit? Stick to shorter time frame?
I’ll have a think on that.
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