update of results from last week, I only took one trade and if I had taken half off and moved to break even at 25 pips then at least I would have had 1/2% profit instead of a loss. I was aiming for 30pips for first profit and it bit me on the bum
Week 1= -1% Loss
Week 2= -2% Loss, (1 Trade Loss) Total -3%
Week 3= 0%. (2 Trades, 1 Win 1 Loss) Total -3%
Week 4= +1% (2 trades, 2 wins) Total -2%
Week 5= 0% (0Trades) Total -2%
Week 6= 0% (0 Trades) Total -2%
Week 7= 0% (3 trades, 2 wins, 1 Loss) Total -2%
Week 8= -1% (1 trade, 1 Loss) Total -3%
This is a little embarrassing! 8 weeks in and the best i could do is -3%, sorry guys i do feel like iāve let you down a bit. I may be making some adjustments soon. iāll keep trying and hopefully result will improve. iām sure they will !
IMO you shouldnāt think about other people. I think in the end, trying to show/prove a point to others will make you start chasing wrong trades.
Its a nice feeling being appreciated, but you are here only for the money. Not for fame and glory. They are secondary outcome (if you pursue for that). At least thatās my view.
New set up in NYO for a Fiber Short, We have the standard criteria which is A/D divergence and over sold on 1hr Williams % R.
We also have a confluence of a few other concepts. The 1 hour Grail, SMT on the USDX, OTE on a daily chart and also on smaller OTE from last weeks high and iām entering on an even smaller OTE, plus its an institutional level 1.2550. Anyone else want to bet the house on this trade? lol just kidding folks. iāve set my order and iām only a few pips from getting filled so let see what happens. 1% risk by the way.
Hey bro. I agree with your first point, but chasing money is not going to work, itās just the way things work. I think the real objective is consistency and absolute control of your emotions. Profits will inevitably follow. I know you (Tycoon) trade very seldomly, but maybe you should try stepping it up just a bit. Thereās nothing wrong with taking 5 trades a week in my opinion. But then again, we all have opinionsā¦
Another tactic that works is not taking profits early. It means that when you hit it big, you REALLY hit it big. Sure it has itās downsides, but when market flow is one-sided, then it is a no brainer for me. If it looks dodgy, then close some out.
Donāt ever feel as though you need to please people bro, cos itās added pressure that you can do without I have lost count of how many times youāve picked out a beauty of a trade and I take your cue and crack it out of the park So keep it going bro, youāve got this!
Yes, i couldnāt agree with you more about consistency and absolute control of your emotions. I just didnāt pointed that out. The thing is that if youāre not consistent or donāt have a grip on your emotions you will never earn money Or you will earn only for a short period of time.
And i do agree about trading. You can take 5 trades a week. But like PM said, you gotta either stuck with it, or take small scalps (10/15 pips). At least thatās what am trying to achieve.
Concerning big swings or trying to hold as much as possible. I added a pic below, maybe this will help you to hold longer. Most of the big moves end up making lots of 15m candles. At least 3 or 4 to let you exit at pretty much high or at least a half way. Yes, you might end up give some profits back, but more than often you will gain more. Or at least it seems Just my thoughts. Take them with high caution. Just some random pics.
I agree with the whole keeping control and emotions etc etcā¦
But i cant say i completely agree with the # of trades per weekā¦ If your trading a set strategy, you trade when get the green light. The green light should only happen when you have a good amount of confluences in place and it meets your given entry criteria of your system. Now of course depending on your system, this could give you 1 trade a month, 1 trade a week, or 3 trades a day! Personally i dont see anything wrong being done here, hes trading a set system (accumulation and distribution), and putting trades on when he gets his green light.
I think the question then comes in into how effective is the system. Is there an overall profit?, more wins than losses?, large R:R ratio per trade?. If trades are only being taken when the strategy says go then the only thing stopping it from being a winner is the managing of the trade once its on, or the actual effectiveness of the strategyā¦
Imo, i think run with it for at least another month. We were already pre-warned August could be a sloppy month, and that could be the reason for the results were not what you were expecting. Id wait to see at least what September has to bring
Donāt get me wrong, I agree fully with being against trading for the sake of trading, but I just feel that tycoon will gain a lot more experience if he tries out the strategy a bit more often
I have often taken the exact same trade as him and made a killing, which is testament to the fact that accumulation distribution does work. What may be missing perhaps is putting more emphasis on market flow (H4 specifically) and trader sentiment But as always, take my advice with a grain of salt - I am still stuck with the same issues as well Just giving my brother some tips in case he wants to take a few more risks
uJust to confirm the trade I took was a loss, price didnāt travel much further and has since been going down.
There was a set up today on the Cable for a sell at the high of the day, A/D divergence and oversold on 1hr Williams %R. I didnāt take the trade as I wasnāt in front of the charts but it would have been a winner.
Firstly a big thanks for the feedback guys, youāre right i am in this for the money and I honestly donāt feel pressured to please anyone (except myself and ICT) on this thread, Iāve done it selfishly for myself to track my results and also in the hope I can make a successful trading plan which I hope will also give a little something back to my mentor so he can see one of his pupils succeed. If it just puts a smile on his face then I feel like iāve achieved something.
Donāt get me wrong about the selfish thing, in the end i know Iāll make a lot of money from trading and yes i will buy a few material things (i think its natural) but ultimately i will be drawn back to doing some good with the money and hope I can help a lot of people from the wealth I will amass, I certainly plan too.
Iām quiet chuffed that a few of you care enough to even post! lol, and I do appreciate the advice.
Going forward Iām going to adjust the trading plan to add a new criteria, basically I will also be taking into consideration the fractal highs and lows, so in other words if we have just formed a daily fractal low I will only be taking buy signal and ignoring the sell ones. vice versa if we have a fractal high, I will then also be trading only in the daily direction. I hope this will keep me out of trouble
I have lost count of how many times youāve picked out a beauty of a trade and I take your cue and crack it out of the park 
Or you will earn only for a short period of time.
