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.
found a nice little supply zone just above the 1.17 level, got sux into a long trade but was able to exit and reverse for a 3n return.
Friday, I came down with a migraine. Unfortunately I suffer really bad from them. Tried to get some trades away but quickly released I had no idea what I was doing so exited to do a minimum amount of damage to the account.
BAsically I am a longer term contrarian and never made any pips at all intraday - I tried paper trading it a number of times always losing pips every day. However, I am retired now and only do freelance work, so I tried again last week or so - on 3 separate days, and day1 I lost 36 pips, day 2 I made 70 pips by being lucky, although I was 4 pips up for the rest of the day apart from the luckand stopped trading that day after I got out of the retracement on the lucky spike and day 3 I had 5 winners 3 losers for +35 pips.
Going to take the dog walkies now, but when I get back, I shall read this thread from the beginning.
Is the book you reference at the beginning, really the best you have found on this stuff ?
How’d ya go bro. Interesting read from where I started to where it is I am now. [quote=“Falstaff, post:235, topic:67048”]
Is the book you reference at the beginning, really the best you have found on this stuff ?
[/quote]
Bob Volman, Nicolas Darvas and Sam Seiden are my three wise men.
So, you should have figuring out I like to get a trade off Monday morning during the Asian session. Today no difference. Lets see if we can start the week on a winner. Maybe I’ll add to the losses from the end of last week.
