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.
Now I’ve figured it out. Yes that represents total trades taken for this three week period.
Because I’m using such a high %risk, I’ll only every have 1 or 2 trades on at any one time , 4 possibly 5 trades max a day. With that said, the strategy is designed for a risk factor of 0.4% to keep draw down at 10% and allow multiple trades. I’m currently using 2% because of the low account value. I’m happy to take on a bit of draw down trying to build capital quickly (and by quickly I mean a couple of years).
Hi Bob, have you traded the EURHKD with your strategy, moves almost candle for candle with the EURUSD and does not appear to range (1min - 5min TF) as much.
Both Pepperstone and IC offer a larger pip range with reasonable spread.
The Asian session makes it hard to find pairs that aren’t chopped out or flat during our day. (Margaret River…)
I have coded a Breakout Indicator (cTrader) which uses a Box to ascertain if price is Ranging, Trending and alerting when a Breakout occurs. See Charts Below.
Making notes as I go @_bob I’m up to post 109 where you’ve just brought in the 4 tickscales and about 800 indicators - lol. Yes it’s an interesting journey so far and I’m particularly impressed you’re posting trades in real time - unlike so many we see.
It does stand to reason that when trading this method that an exit signal in one direction becomes an entry signal in the opposite. It also stands to logic I am wrong 50% of the time. Especially when I forget to check upcoming news
I’ve got a big mouth and talk the talk. Now I make things from milk and warehouse shitze. I have no financial background. Never worked in a pit. Managed funds bla bla bla. So I’ve got to back it up somehow, what better way than with a live trade. Not always easy to do but.
I wonder how many have evidence of how they traded from 2 to 3 years ago?
Maybe it’s just my newbieness, but I am predicting price turning around and heading back up towards 1.1700 before falling to 1.1400… that would be way too long of a time frame for your system but I am seeing that 1.1610 has been holding as a short-term support level over the last couple trading days.
Slightly off topic, but, in your opinion, is your method good for a part-time trader? I know that you have a full-time job so I am probably answering my own question. I only have three hours after work during the Asian session to trade (assuming I skip the gym which I don’t like to do) and am looking for an approach that can work with just a few hours a day. I am not looking for huge profits at only three hours a day but my thought was to setup swing trades Sunday afternoon on higher time frames and then hitting the tick charts Mon-Thu for short-term trades.
My method is good cause it works for me. But this has been my primary approach for the past 3 years. And I think that has to be the primary message that has to be taken away from this thread. Be true to yourself and just keep doing whatever it is that works for you. I reckon if you keep doing what your’re doing over in your journal for the next three years then the “teachers” might just become the students.
Just chillin doing my thing. Sitting back eating popcorn watching the “big boys” prove they have little dicks.
Actually, in hindsight should of continued posting my trades. We changed from a trending to ranging market and I had a few losses
Had to adapt from trading breaks from pullbacks to support and resistance zones. Will this week break and start/continue a trend or will we stay in a range? For the moment ranging so looking to short off resistance.
Funny how people seem more concerned over “starting competitions”, “dealing with emotions” and “dealing with dilemmas” than the actual act of trading (which is as boring as …). Sounds to me like they want to go swimming but are afraid the water will get them wet.
We are not worthy:grin: