Hello friends I am hoping to take only 2 or 3 trades per week in any currency pair if there is a setup. I think this is helping me to stop reducing my account by over trading. Usually My minimum time frame is 1 hour and as soon as I see a trade opportunity on MA crossovers i enter a trade and take about 20-30 pips profit and exit or if the trend is looks like strong I hold the position fore more few pips. that means I can earn 40-60 pips per week only take less trades as I enter a trade if there is a strong setups that agree to my strategy. Is it good way to take less trades like 2 or 3 per week and earn about 40 pips per week. What are your ideas my friends… I have decided this as scalping reduced my account 25% in a month. Tell me is this a good idea and will it be achievable to me. my strategy is slower and faster MAs and stochastic oscillater.
Maybe I misunderstood your question.
Are you saying that this method reduced your account by 25% in a month?
NEO (sandausp), Trading is like…being in love
No one can tell you about your way of trading
YOU JUST KNOW IT… THROUGH AND THROUGH
I mean… WHAT DO YOU WANT TO HEAR ??? hehe
something like this
-
yes that’s very smart that you’re only taking 2 or 3 trades per week
-
yes your MA strategy is a good strategy
-
yes you have a nice tight Take profit
blah blah blah bs bs bs
Mate, I’M GOING TO BE HONEST… ok
you don’t need us to tell you this
YOU ARE JUST SEEKING APPROVAL AND CONFIRMATION (and i mean that in a respectful way)
but more importantly… UNDERSTAND THIS…
YOU ALREADY KNOW THAT IT’S GOOD… DON’T YOU ??.. Cmon, be real
YOU KNOW IT
otherwise you would not have posted it here
so… JUST DO IT, go and test it
here’s another point of view ok (From 7 years of trading)
let’s say your method works and it will make you a billionaire
now… YOU CAME HERE ON BABYPIPS (where half the people have no clue as to what they are doing) and YOU WANT THEM TO CHANGE YOUR MIND hehe
No Mate… Just do it
we can spin you little fairy stories to give you an ego boost and make you think you’re on your way.
IT MEANS NOTHING
Do it… Test it… if it works for you… ROLL WITH IT
ok
be cool
I had some of the same problems - over-trading - and found a similar solution - only trading 2-3 times a week on the H1. I limit myself to four currency pairs, as I only need those pairs to produce a few signals each week. This means I know those pairs fairly well, which helps me make trade management decisions.
This approach can be profitable, or at least, it has been for me, but of course that also depends very much on your trading plan. Your approach is different from mine, so I cannot comment on the specifics of your plan.
Drekieyja… yep… i also lossed my account 25% because of overtrading. What is your strategy now to take 2 or 3 trades per week. Can we share it
Tommor… i mean i have lossed 25% from my account from scalping.
@Sandausp
re this…
you have said the word “Lossed” twice
I’m guessing english is not your first langauge
allow me to correct you
the word is LOST
“I ALSO LOST 25% OF MY ACCOUNT”
You can say
“I suffered a LOSS” (as a singularity)
or
"I LOST"
but you can’t say "I LOSSED"
nor can you say “i suffered a LOS”
does that make sense ?
be cool
Martin_K… thanks for correction. Yes english is not my mother language and still i am developing it. Basically i can manage it well but sometime like this i miss the rules.
mate
English does not really have RIGID RULES, that’s why it’s hard for you to learn it
all good
Sorry to tell you that it isn’t a good idea, and steady, reliable profits won’t be available to you that way.
Moving averages crossovers can have some value, for example to establish whether a trend currently exists within a given time-frame in a given direction, but don’t try to use them as a signal to enter trades: that’s “online rubbish” and you won’t profit from it, in the long run.
It would really, really help you to read a textbook or two and stop trying to learn from forum and website “information”, which is far more likely to confuse you than to help you.
You also need to learn how to test your “strategy”. If you backtest it over 1,000 trades you’ll quickly see that it isn’t profitable, but you need to learn how to do this yourself, and STOP trying to rely on second-hand “information” from anonymous strangers who mean well but don’t actually know much more than you do.
Man went to the doctor and said, “Doctor, it hurts when I do THIS” and the doctor said “Don’t do it then”.
Stop scalping. Stop day-trading. Trade longer-term. Follow trends.
More detail on the trading plan will be helpful but one thing stands out right away. The market determines how many trades you make per week. Some weeks there will be many. Some weeks almost none. If you set an arbitrary amount of trades you will leave money on the table on good weeks and force trades that are not there in bad weeks.