So my A/U trade did the same thing as my E/U trade did a few days ago:mad:
I really am trying to trade off longer time frames but the SL and what happens when I sleep is killing me. This happens every time I try this this its why I keep going back to scalping 5 to 10 pips with a big stop and wacky MM, and trading opening gaps. I should really stick to what works for me and focus on making money.
I feel like I am trying to make a system work. I am obviously doing it wrong as I am getting the direction right, right after my stop is hit:rolleyes:.
Can you stick up a chart or give the entry price, time, and timeframe, will have a look.
Still got 1 trade running AU short, doesn;t look like I’m gonna get more than 2 or 3 trades in this week for the weekly strat.
Don;t get me wrong, I’m not saying that it doesn’t work (worked very well last week and doing ok this week), just that if there’s one thing in common with posters on this site, it’s the “trying too many systems at once” syndrome and trying it with live money. I have the same weakness hence the demo testing. I only trade live with my day trading method and swing trades, which is for the large part price action with an indicator or 2 thrown in to confirm the trade/give an extra reason.
Stop was to tight. It was going my way when I went to bed. I know I am picking entries and direction OK I just need to move the stops out and trade smaller.
No worries.
I do best when I watch trades and and close them manually. I try not to be a system trader. I can never get it right SL and trade size. I am just trying longer time frames and aiming for some bigger targets. That seems to be the advise I keep reading. I am guilty of trying new things with money and not demo. The last few days have have been bad but nothing I can’t make back in a few days;)
I am going back to my scalping I know that works for me.
What… step out for eight hours and ‘war and piece’ gets written. Just closed my G/J for 208.
Merchant I’m not confident theres a strong corrolation between your MT4 platform and Marketscope. I saw your charts posts had HA up candles where mine were still down.
I’m posting a screenshot now… might help if you compare?
Merchant I’m not confident theres a strong corrolation between your MT4 platform and Marketscope. I saw your charts posts had HA up candles where mine were still down.
I agree with this. The charts MerchantPrince is posting do not look much like the ones I use. Might be worth investigating further. I use Oanda and an MT4 demo from FXpro I also have Marketscope. The 3 different brokers I look at all are pretty close except Oanda on the longer time frames 4hr and up(for long term Oanda only has 3hr and daily charts). They use a different day break, but the minute to minute price is pretty close.
Nice, EJ was a good one as well - finally moved down.
It’s difficult to compare sometimes as one strat gets posted and it suddenly morphs into intraday, 4hr, Daily, etc. etc. - just look at how far this thread has gone since 5min intraday scalping
good, I hope it goes anywhere but sideways, I make no money when its ranging (unless I scalp lol) I got longs set at 132.85 and 133.85, well see what happens, this is still in testing
What have you been using it on?
Can’t be absolutely sure but I suspect it would work better on the majors rather than a cross as on the crosses you have 2 round number areas to consider.
thats fine i have shorts set at the next 3 lower whole numbers as well lol, just need price to move:D
the reason im using this on GBPJPY is because it noticed on the majors (GBPUSD and EURUSD) price can go right near the whole number and then reverse… not what i want lol thats a loss. GBPJPY seems to be more efficient and reliable, though i could be wrong san. if uve got advice ill be more than glad to try it:D
I forgot you were going for 15pips before and then 15 pips after as well.
Out of interest, it would be nice to see what the GU and UJ are at when GJ goes through your 00 areas - you have to rule out coincidence at some point - still…if it works it works.
Well that AUD/CAD trade I took (below) meandered around for quite awhile (21 hours) and got as far as +48 pips before falling back (TP was +66). I just closed it out at +10 just so I could say that at least it wasn’t a loss!
GBPJPY is just about to enter a short (if it drops another like 1-2 pips lol) so lets check GU and UJ now
GU near a whole number, 1h low is actually exactly the whole number. USDJPY is at about xx.45 when I checked
lol) I got longs set at 132.85 and 133.85, well see what happens, this is still in testing