The £10K Gamble - [The Journey]

They all shorts @The_Baller?

USDCAD is long. Rest are all short yes.

Cheers. I know you are a serial shorter, so just wanted to check :rofl:

I have got the same issue my friend. Currently holding short position on USDJPY for 5 weeks and still not beyond my entry point :smiley:

looks like @The_Baller produced more shorters out there short trades

Someone in NoNonsense forex posted on Friday that his algo showed a long on USDJPY so I exited immedeately after I checked confirmed TradingCentral’s targets within ctrader to be long for up to the 4H timeframe

when do you scale in ?

No worries, I am not really looking at 4H charts, maybe sometimes to find an entry point - this USDJPY I am currently in will be closed once in profit.

@The_Baller as someone who is taking alot of influence from you, do you mind me asking a few stat related questions? I know you don’t really fuss over that stuff, but I am asking because I am trying to determine if and how similarly I am following things the way you do.

Would I be right in thinking you have a risk/reward ratio below 1, and a win ratio in the 90’s? I would guess you would, because you seem to just take profit wherever you see fit, and not adhere to any strict risk reward style profit targets.

I am finding in my own trading that I’m using stops in the 300-700 pip range, and taking profits in the 100-200 pip range, which shows up in the stats like that which is why I’m asking. I’m wondering how much to fret about that really.

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So my first post on this forum and specifically on this thread. I’ve been browsing the forum and taking the course to understand the basics. I’ve read the thread a couple of times trying to glean as much info as I can.

I’m brand spanking new to trading and bouncing around looking for the “holy grail” as I like rules and structure but not having much success whilst trying to scalp or day trade. I don’t have time in my life to stare at the screen watching M15 candles as I run my own business.

This thread has been really great in simplifying my approach and I really like the top down approach highlighted.

I’m also trying not to over analyse and have a multitude of S/R lines and the higher TF have made me far more aware of the overall trend.

Still working on refining lot sizes to risk & SL levels particularly for non USD pairs (demo account in USD).

Biggest mental challenges: 1) Not to want to overtrade for the rush 2) SL far away from the noise 3) Patience 4) Consistency

I’ve have found the examples of charts posted by various members and the critique of these charts by @The_Baller and other members very very helpful!

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Cheers, @Constadino. I joined their Discord. Do you know when the trending pairs chart you posted before is on that? Thanks Dev

You’re right there, I don’t fuss about things like that.

You could say that yes.

Its in the 98% and above range for sure.

It’s funny because YouTube recommended Million Dollar Traders to me a few days ago - so I watched it.

Although its a few years old and they’re trading stocks and lot of the underlying psychology was the same.

Complete newbies trying to trade, and when the position moved against them in the slightest they’d close it and go the other way and keep doing that.

Even though everyone bashes Anton Kreil - he said, what the f**k are you doing, you have to give it a few weeks to play out.

Its the same here.

At the end of the day there are no rules. You can take as much as you want, when you want. Take what makes you comfortable.

If you’re consistently making money then its nothing to fret above for even a second.

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You’ve probably guessed, there is no holy grail but you can get close enough.

You’ve probably seen this, but again Day Trading for a Living? - day trading isn’t a good idea.

So do I - that’s why I needed such a laid back approach to trading.

Wishing you the best of luck.

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Fantastic response mate thank you.

Thank you.

You’ve probably seen this, but again Day Trading for a Living?2 - day trading isn’t a good idea.

I haven’t, thank you.

Wishing you the best of luck.

Thank you.

So some charts I’m looking at and would some comments if you have a spare 2 seconds?

USDCAD - You are short this - Trying to understand why

  1. It ranging on WK TF
  2. Seems to be making higher lows

I can’t really decide what it is doing

GBPJPY - I know you are not looking at GBP pairs, but it seems to be prime for a short or stay away as just to volatile leading into end of this month

I am seeing the same on usd/cad but can see resistance

@DaavG read his comment again, he’s long on USDCAD.

@DaavG read his comment again, he’s long on USDCAD.

Thanks I missed that!

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what do you mean?