I finally found an EA that will close partial profits and simultaneously remove risk of loss! I tested it out, and it appears to work quite well. It has lots of community backing, so I trust it has been coded well.
It’s called “THV Cavemanager v1.41” (from forexfactory, google it!) in case you too are looking for something like this.
This equates to more and better quality sleep for me!
I just want to take a minute to commend all the people that have been diligently keeping up their trading journals and/or posting their trades and trade setups. ESPECIALLY those trading live accounts. I know first-hand the emotional strength that is required to fail publicly, and you guys have my utmost respect in that regard.
Please keep it up, I am truly inspired by your commitment!
Feel like I have been in a holding pattern lately. I was able to stop the bleeding from my over trading a few months back on my live account. However, currently wins and losses are just canceling each other out or just marginal gains. I guess that it could be a good thing considering I have been able to slow my pace down enough to figure out some of the puzzle pieces that I am missing. I think my next goal will be to improve on swing projections. As of late I find some old nemesis resurfacing where I am right about reversal points and directional bias but total wrong on swing projections. Sometimes I miss TP by 3 or 10 pips to find out later up to 50% less profits when I return to my terminal. This the better of the situations, the worst situations are when I am very close to a TP but price reverses and ends up taking out my SL for a loss. It can be a bit of grinder.
So close I can taste it… I have seen Micheal measure swing projections from points in TT Monthly Matrix, Asian Range Highs and Lows, Weekly and Monthly Highs and Lows, and Pivots. Next week I have a short break from classes and will probably be a good idea to go and review some ICT videos so I can improve my swing projections.
Cheers…
Added:
Sorry guys. I have not had the time to keep up my trade journal. The focus has been on finishing my degree which I hope will be completed by early next year. I have still been able to pick-up a few things up form ICT on way and do a little live trading as well. I think my New Years Resolution for 2013 will be to spend more time developing my trading skills which is kind of funny because it is six months from now, but there it is…
Java if I can say a few things here. I must give you mad mad respect. You might not realize it but your on the right track. Being able to slow down the over trading is surely helping as you stated and now your breaking even. Man thats the first step. However you are one step above the rest because you have a plan on how to improve. Your not just breaking even saying ok now what. ICT what do I do now? Instead you are using the concepts and figuring it out. What works for you only you will know. I will add that your plan might not work so dont forget the foundations on which you stand right now. As even though your are not breaking for huge gains. Just breaking even gives you something to fall back on and maintain. I can say most on here not making profit already know why. The underlying issue which is tuff to break is we get so focused on learning everything we forget what works. Not only that by focusing so much on new stuff you tend to build habits. Habits are worse than emotions if they are taking you in the wrong direction. Both are very hard to conquer but neither are impossible. Actually I take that back emotions are impossible to overcome. As we are human. I dont care if you use bots to trade. If you program the bot you program you emotions into the bot. On the subject of a journal you already know it is very important IMO. However if you cant keep up with it due to schooling then you are making the right choice. Education comes first always. Try to keep up as much as possible. As I know for me it has been a great help coming into this trading year. I know for me it was the deciding decision to only short the Aussie this year based off last years trades. Also this year I am learning these concepts which I am sure have aided my way. My win% currently sits at 84%. I only really take a few trades a month. But 84% of the time they go for a 100 or better pips. On average its roughly about 50-60 a week. Not great but being part time it good enough. But like I said school first and foremost. In case all this does not work you have something to fall back on. For me I dont need to pay bills with forex money ( Ihave a job for that)I just try to get consistent at it. I also just started collage last month for a AS degree in business management. I have been working all my life but I have only held 2 jobs. I have never been fired first company went under. I have to weigh the odds. How many people have only had 2 jobs in there career? SO I am going through school and this as things I can fall back on. Unlike most I love my job. I would work there for free as its what I love to do (hope they are not reading this lol). I am not a guy to take advise from. I have messed up plenty in my life. But the basics are the same for everyone. Build a foundation to stand on or you empire will fall. From what I read in your post you are on the right track. Keep it up. You went from losing to breaking even with plans on how to progress. It fairly obvious of your next step. All you have to do is find it. Again lots of respect to you for doing the right thing for you. I had a decent account but took most out to pay a down payment on a house I didnt wind up getting. But the money is safe and set where it needs to be for what I intend to do with it. In the end it buts me back in the same boat as you. Small account, starting school, got a plan and sticking to it. All I can say is stay focused and keep your eye on the prize. All you have to do is maintain and your skills will sharpen. The rest is made for the history books.
Thanks for the kind words Bobmaninc… that’s the idea… make good solid business decisions. I definitely have my eye on the prize.
Ho-ya!
Let’s go get it.
I gave up on that idiotic 4shared site. Even if u want to create an account, it doesn’t send u the confirmation email…If any of you could post it on another sharing site would be nice.
Can someone help me out please? What is the ICT Holy Grail? In my notes I simply have it being an OTE with Type II divergence. Is that correct?
I reviewed the How Pros use Indicators video where Michael talks about ICT Stinger and that one I get but I can’t remember where the Holy Grail is covered.
lol, that’s the tongue-in-cheek version of the holy grail. Great odds play, but the real ICT holy grail is cutting risk when you’re losing as to prevent runaway losing streaks!
ICT does mention this in the Short Term Trading module re: moving averages acting as support plus OTE etc. That method is similar to the Raschke ‘Holy Grail’ trade that she describes in ‘Street Smarts’, where an MA is used as support.
That’s an awesome Preflight Checklist - thanks ICT!
@ Vladul: You don’t need the confirmation, you should be able to download it right after registration (the email doesn’t even have to be correct). If it doesn’t work try clearing all your history, cookies & cache in your internet browser.
That should fix it, but in case it doesn’t, you can send me a private message with your e-mail and I’ll send it over to you.
