I guess so. I’m up on a roof working. But ready for 430.
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my man always on the grind 
Finally made some money on USDCAD brother lol
Hey hey. Feels good. Lol
haha, it does. overall, the past 2 weeks im still down money from this pair. hopefully next week i can make it all back and more… opened that trade up yesterday, so i was patient w it lol
Here is the weekly round up. Will also later have a breakdown of my trading so far what adjustments are needed. I did miss some good trades this week due to my busy schedule later in the week, but still a good week.
AUDCAD
AUDNZD
EURCAD
EURHUF
EURPLN
EURUSD
NZDCAD
NZDCHF
NZDUSD
USDMXN
Journal
Majors/ Minors
Exotics
Indices
And some graphs…who doesn’t like graphs.
Majors/ Minors Pips
Exotics
Balance
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Nice job mate!!! Next week I make sure to stay up to date with the thread and see what the market has installed for us
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Did some reviewing of my trading and how I take profit and just an overall analysis of my trading strategy so far. So here are some stats I came up with. Mostly about where and when to take profit. I want to do this once a quarter. But to finish out the year I’ll do one now and then one more at the end of the year, then after that once a quarter.
These only include my Forex trades along with Oil, Gold, and Silver. No indices or stocks in these stats.
Duration: 9/26/21-11/12/21
Total Trades: 111
Wins: 81
Loses 30
Win %: 72% (Which I don’t base a strategy off how much it wins just if it is profitable or not)
These next three should add up to 100%, these are from the wins not total trades.
-
How Many Trades Reach Full TP: 10 which is only 12% of the wins.
Reminder that my Full TP is set at the other zone. - How Many Trades Reach TP2 then Retrace Back to TP1: 11 which is only 13% of the wins.
- How Many Trades Reach TP1 then Retrace back to BE: 60 which is 75% of the wins.
Then I wanted to know out of all the wins how many retraced down at least 50% of my stop before turning positive and reaching TP1 at least.
- How Many Trades Retrace 50% of the Stop Loss before Becoming Positive: 31 which is 38% of the wins.
Might be able to do some hedging as well.
- How Many Losing Trades Retraced 50% of SL then Came Back to Entry Price Before Going Back Down to the Stop Loss: 15 which is 50% of Loses.
So based off how many reach Full TP compared to TP1 or TP2, it seems I will come out better taking more profit early and then just letting the trade run it’s course. Right now I only take a third off my position size at TP1, I will bump that up to 2/3’s.
The reason I wanted to know about the retracing down to 50% of my SL before reaching at least TP1. I have toyed with placing a order at that 50% retrace mark in the direction of my trade. But instead of placing a full size order I would place a 50%(so for a major pair it would be a 1.0 lot). Also realize it increases my risk, but just an idea. I’ll sit down and work out the math.
The last bit with the how many trades retrace down to 50% then to entry then back down to SL. Was looking at a way to hedge some of my trades as well. But don’t want to run the risk of the hedge working against me which seems it would most of the time since my win% is ok and you don’t ever know which ones will be your winners and losers.
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Great stuff!
Hedging is very tricky as I’m sure you know. The only reason I could see you hedging is if price frequently hit your SL just to come back to your entry.
If price continued to go against your trade then you’ll eventually have to close it and take a second hit on swap fees.
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Yea, I’ve tried sitting down and thinking of ways to hedge. But never really had a need for it once I ran all the numbers and then the risk I’m adding to my trades trying to hedge. Seems it would work against me mostly.
But that is another stat to track for me lol, how many times does a trade hit my SL and then turn my original direction. I would like to know that one as well.
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You’re in the US too, so you can’t hedge. At least not using the same account.
Correct, but since FTMO isn’t US based and the broker they use has accounts with them and not the traders name(a traders account with FTMO is just copied to the broker from FTMO), I can lol. If I choose to. Also how I’m able to trade Indices and Stocks using CFD’s.
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OK, here is an example of why analyzing your strategy from time to time is good for you. Based on my above post of taking more profit at the first TP (My Price Action Trading Strategy).
If I would have been doing that since the beginning of October, I could have made $5,284.13 more than what I have made in that same time.
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i def wouldnt mind an extra 5K in my pocket
Who you kidding lol, me too. So I’ll now start using a different ratio when I take profit.
I was mad last week when I was up $250 on USDCAD and didn’t take profits, lol. I ended up with $30 lol
That was earlier in the week
A couple I have opened this evening.
AUDUSD
USDJPY
This one hasn’t activated yet. My wording on the chart is a little confusing so just clarifying.
Nice call on AUDUSD. TP1 hit?
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Hi,
Does server time have an appreciable impact on your 4HR bar analysis?
I don’t use 4HRs, because depending on your brokers server time, the bars can have different characteristics.
Do you think you may arrive at different entries if you traded a different server time?
Or, would you be able to see the same essential market condition?
Thanks to your thread, I am starting to spend more time looking at bars, instead of using indicators!
(problem is, indicators can be automated; bars are based on real-time analysis.)