So we all have busy lives. I’m no exception so missed posting my trades yesterday. Sometimes I think I should rename the thread “Profitting from noise - journey of a dumb speculator”
So, 4 trades taken yesterday. Had to zoom right out to capture them all so looks a bit messy
First two where losses. Trade one I tried to predict the market and we all know how well that works. Second trade got sux in at the end of the short trend lasting for the past 4 1/2 days. Proving the trend is your friend until it ends. Then got into two good long trades away. One closed out when it hit TP one manually closed. But Bob’s learnt to chase higher Risk:Reward ratios so one trade covered the loses, One trade profit. 3.59% in fact. Not bad for one day.
Dark clouds cover the sky today. Beware of charlatans.
bro i as a newbie want give my idea and asking
i see some line in chart as support resistance and ,123 pattern rh and, boxes ,liquidity meter
its very nice that 4% a day
is all this require and helping you to execute the trade and which one is your one to rely on most
if the price is matter , does different sma like 100 200 give you and help you to find that same edge and accuracy
the orders are so purely executed and screening that i really want to see where it goes and what happen every time
i look forward bob
These are what help me. Will they help others, maybe may be not.
Boxes bro, always the boxes. Boxes are based on fractals i.e. price - highest high, lowest low. The liquidity is based on time and only time, which is why it won’t work on a fixed time frame. Personally don’t believe in run of the mill indicators. But there are others (well at least one good fellow) whom are very experience with them.
The ross hook indicator is a very good trend indicator. Its also based on higher highs and lower lows
See the date of the first post. Thats over 3 years. Apart from a digression to Donchian Channel trading thread (very similar as both are based on break outs of highs or lows) this is all I do. Thats what gives me the edge.
Actually have just finished going back over this thread. It was the main reason for starting it. It truly documents a what stage of my journey I was at in this period. Its incredible to think how much it has evolved in this time. It is why people fail. They system bounce. Find what works for your then wash rinse repeat. It is truly on of the most boring occupations one can do.
Hasn’t always been the way. When I apply my one trade once a day 10 pip sl, tp rules, my best quarter was 8%. Thats the costs involved in that strategy. I needed to win 3/5 trades each week, 2/3 weeks to achieve that. A 1:1 risk reward ratio never returns that after costs. Learning how to widen my stop and obtain a better risk reward ratio is what brought consistence and a increased return.
The green and red lines you sometimes see aren’t support or resistance lines (the boxes indicate them) they are my trade sl and tp levels. Not the stops are not place at a level however a few pips above or below the level.
And as I type I enter my first for the day. Got 1% on, going for a 1:2 risk reward. Maybe I’ll get a second entry latter
The end of the week and how are things. Well, Thursdays trade never got going and got taken out. Had opportunities to get out for some profit but let the trade run it’s course.
Last night again only the one trade. A winner. So I put this one on looking for a 1:3 risk return. But then it got late. Trade had made good profit and it was time for me to hit the sack so I manually closed it. Then woke up today only to discover that if I had left it running thing it would of hit its target 20 minutes later. Love this game
With all that said, I’m done here. With the exception of a few good folks, this forum is polluted with filth and I simply can’t be bothered with it any more. So good bye to the all the good friends I have made over the past 5 years, I wish you good health. To the rest, in all honesty, your filth needs to be purged.
The first one that has to go needs a big Harami Cross stamped right in her forehead.
Why do we need more good female traders. Because the ones that frequent here are rubbish.
So if you are departing never to return here is there somewhere else to contact if there are questions about your uploaded package? I haven’t really delved into it yet, been busy with other reading … thanks by the way sharing. All the best
Ok Starting the week still with a bearish bias Tried to get a trade off early but it reversed closed and covered breaking even for the two trades. Have entered a third time with a second short only this time with a better entry. If it goes I should get 1:4 maybe higher as a return. We’ll see how it pans out
Approaching the 1.17500 level. Providing some support. Also 3 finishing liquidity spikes have formed. Not really strong signals in their own right but if volatility is low for today then it’s a good clue left behind.
Since then this has been the price action. Adjusted stops to match the low. The question is do I get out and cut my losses to a minimum. Or have faith in my analysis.
Think I’ll keep the faith. Would be less of a decision if there was more liquidity and volatility in the market today. If I’m wrong just sux it up and call it a day. There will be more opportunities tomorrow.
It’s all “in your head”, my statistics show me that 50% of the times that I close before my stop, had I left it alone it would have been a profitable trade, so that means I could of had 25% more overall profitable trades, which means more Alpha. I hate it when I do this, even when the stats show I shouldn’t. Yup, all in my head.
So funny you say this. I’ve spent 100’s of hours back testing these boxes and patterns and have come to the same conclusion. But after chasing 10 pips for a couple of years, opening up and widening the stops and going for a higher profit factor is new to me. I like the buzz…
Which covers the loss I had trying to re-enter the market on Monday after not having faith and getting spooked. Mind you, if I saw this pattern again I would still take the trade.
So that leaves the greedy trade. What to do with that? Moved TP for a 1n return.If I can get out in the next hour I will but then again I made the decision to take the trade, best I man up and own it.
Finally out of the greedy trade. Back testing has demonstrated that my analysis is valid for about 2 hours, after that it’s 50:50. And exposure to the market equals increased risk. So after 24 hours I’m happy to take a 0.6n return.
Hey Dude, that is how a lot of these folks around here got hammered, they took positions based on 1hr entries and tried to hold for days, not even realizing or better said, admitting, that after a couple of days the premise and maybe even the context of the trade changed, thus invalidating the trade, so instead of taking a discretionary stop, to live to fight another day, they allowed a couple of trades to blow them up. Taking a multiday trade on a 1 hour entry is a really bad idea. Oh and No Position, is a good position on days like today. Just hit a high water mark yesterday, and well, I don’t want to give it back, so, no trades for me. Now if I could just find someone to bother, I know, let me slither over to kreslik and harass TRO, yeah that’s the ticket.
