October has been faaaaaaantastic.
Best trading month of the year for me.
All I have to do now is not screw up the next 2 days!
The hardest part of trading - NOT trading for these last days of the month even when looking at the charts and seeing all the slam-dunk setups.
But I don’t want to just jump in and make a bad decision that ruins all the good trades I made throughout the month. Even a great setup can be ruined by using the wrong lot size or the wrong SL position.
With all trades closed besides a long on Cad/Jpy that I’ll leave open for probably most of November, I can start November with the opportunity to scalp, swing, or both.
Those are always the best!
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Final October stats:
79/17
78.5% win rate.
That’s a little low, but the number of trades was higher than normal.
Biggest drawdown: 4%
Account gain: 9.6%
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That’s really fantastic. Well done!
Do you have an outline of your strategy anywhere?
Hi bitgiggy,
Here’s my chart setups on MT4 platforms.
VHP - MA3 - fx forecaster - VST.tpl (22.8 KB)
Here’s the indicators:
fx-forecaster
#FS30_4.ex4 (3.3 KB)
TicksSeparateVolume.ex4 (14.6 KB)
Versatile Super Trend.ex4 (56.5 KB)
Live Sup Res MT4.ex4 (17.1 KB)
CAP Channel Trading.ex4 (76.5 KB)
MA3 Trend MT4.ex4 (22.1 KB)
vhpchannel_03.ex4 (18.2 KB)
Live Sup Res MT4.ex4 (17.1 KB)
200 EMA
Settings:
Fx-forecaster set to 4,12,8 - MA1 set to 1(EMA), MA2 set to 2(SMMA).
MA3 set to 13 simple, 9 simple ,3 smoothed.
Change 9 and 3 to no color so only the 13 shows (its the green/red line).
Cap Channel is orange band lines with dashed midpoint line.
VHP is blue channel lines with dashed midpoint line and solid white signal line. Set to 250.
Red/Green dots are Supertrend. Set to 30, 0.7
Keys to success:
Signals that appear near the top and bottom of channels are preferred.
Close points are either a subsequent cross of white and green/red. A change in the histogram from green to red. The opposite channel boundaries, or the channel midpoint lines, or the 200 EMA.
Or trade like I do and be satisfied with even a 1 candle of nice profit per trade. I do this a lot along with some trades I let run for days.
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Added 3 little winners while watching TV.
Then added pending orders that may activate in the next 24hrs to start my November trading.
I could lose out by not just entering a live trade again now, but I believe becoming a more consistently profitable trader means not caring about missing one setup when there will be more every day.
I SHOULD put my pending order at the white MA line. But I think this is a high probability trade and I don’t care if it stays negative for a while.
If I know going into a trade that it may require a large SL, then I’m not surprised or annoyed when I have to use a large one.
Trades like this can be a good opportunity for additional entries if it pulls back toward support.
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Thanks for sharing, this looks really great. For some reason the MA3 won’t attach to my chart and it is the only indicator that the template doesn’t show. Is there another version you are using, perhaps?
@bitgiggy
Be sure and check the box to allow DLL imports (this is a third party indicator so allowing imports is always something to be careful with).
Its this version. Same one from my setup post.
MA3 Trend MT4.ex4 (22.1 KB)
This one gets good reviews as well:
MA in Color_wAppliedPrice.ex4 (12.7 KB)
This one also does not have an option to provide alerts.
Nice pullback on USD.
The market is making opportunities for us.
Its raining money!
I closed out all Jpy pair trades except Cad/Jpy and re-entered on U/J and E/J as the weekly trend is still upward.
Awesome month!
Yen pairs, love hate relationship! But they’ve been my go to’s.
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Crazy price action right now on JPY and USD pairs. Anybody watching?
I closed out a 36 pip profit on U/J a while ago.
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tldr; guys etsimated reading time is 386 minutes. I am looking to go about acquiring the most impactful gems out of this highly rated thread. So I guess I need to ask the following: What are the basics of approaching trading according to this discussion on this thread after almost 4k replies?
Hi Constadino.
Can I ask what type of trading interests you most (scalp, swing, counter trend)?
My personal trading style has “evolved” since starting the thread and I use a few styles myself.
