I bet you didn’t think this thread would deliver such a consistent approach months ago huh? lol
See why I dragged everyone slowly, some admittedly kicking and screaming… there is a method behind this madness I exercise here lol.
For those that are just coming on board… or struggling… it will happen for you, give yourself the permission to learn it on your timing… no competition, no rush. These tools have worked for more than my experience in the market… so patience is not a hindrance to your success… rather a critical factor. Go slow, focus on consistency and money will deposit into your accounts and keeping the Risk controlled.
This is so much fun for me to see others getting it… I Love It! :59:
Don’t know if you want or need this kind of thing on the thread Michael so delete or I’ll delete if reqiured.
I’m thinking about disclosing my weekly trades in the hope of shameing myself into proper risk management. £10 is 1% of my account. This will also show when I’ve strayed from the kill zones.
It’s been a strange week and I dabbled with commodities, but I can assure you the numbers don’t tell half that story.
I can hardly bare to do this but here goes. BTW somehow my account is only 5% down (after two months) and I would call this quite representative of my trading. (Not my future trading!)
I applaude your intestinal fortitude to post this. This is precisely what I encourage everyone to do… it will force accountability for each of you and aid in your consistency and overtrading habits.
It might hurt the ego or pride… but this is how you slay those two enemies!!! :35:
My limit orders on GU and EU for NY session got filled finally. Let’s see. If it’s loss, I quit for this week. I think I made more than enough already. ;-D
EDIT: I added arrows, just to make it clear which candle was entry candle. I use limit orders in 99% so sometimes it can be confusing… Btw. it reacted almost immediately, but I don’t think we will get somewhere. It is late NY session.
OK. It was loss at the end, but just because I was sleeping and could not move SL to BE. Price went exactly to 0.0 fibo level during Asia and then bounced back. Really unbelievable how it works…
I knew from the beginning, that for sure you know what you are talking about, when one of my friends from other forum sent me a link to your videos. But I could not even imagine, that you take such a consitent approach. It is greatly appreciated.
Just want to ask…shall I keep posting these screens with my trades? I don’t want to mess up this thread only with my pictures…
The Yens are in a roller coaster ride, GJ 1200 pips down and up in 2 days, EJ and UJ all the same boat. I guess this is why you stay away from currencies that are tied to international disasters.
Just caught a short to get me back to BE for the week, 5 trades total for the last 4 weeks. Over 8% gain and this is the only week I havn’t reached my modest goal. Good news is I learned a good lesson from the one loss I took
Entry was @ 1.61706
ICT, do you always take profit at +30, 100%, 127% and 168%? Or do you sometimes leave a portion on if you expect price to go further?
Entered EU long during London Open at 1.4063 which was optimal entry of 79% retracement. 1.4061 is a previous day’s pivot. Fractals are up on 4hr and daily. Stop loss was at 1.4049 and was hit for -15 pips.
I did not trade this setup, but I can see how it could have been profitable (although tricky). I know this is clear in hindsight, but here goes:
My entry would have been at 1.4063 (based on fib drawn from 1.4056 to 1.4080.) Many would not consider this swing big enough to be valid. ICT has suggested we want to be looking for at least a 40 pip swing.
Stop at 1.4033 - back 30 pips from entry (As ICT has mentioned)
Price trades down to 1.4039, so stop is safe.
As I am writing this, price has traded up to a high of 1.4093, so we would have taken 30pips profit at this point, and I personally would move my stop to break-even at this time also.
A note: I’m not sure, but I think you still may not be drawing the fibs correctly. Most charting software requires that you draw the fib from a LOW to a HIGH when looking for a long entry - this does not appear to be what you have done on the chart you attached. My fib was drawn starting from the LOW on your chart, to the high of the bear candle 6 bars to the right. Something to check anyway
Hang in there mate, you’ll get it!
EDIT: Manta makes good points in the post below as well. Indeed, I never would have considered this trade as price was up near R1. Not a good spot for a long.
I would not take this trade because price is in sell zone and Asia low is somewhere around 3980. Too risky in my opinion. Also SL 15 pips is too tight I guess.
I got an idea to post the trades based on your concept at meetpips.com. I think it is better solution than post just images here to forum. First have to find out how the website works…
5-star trade right there. How do you get the fibs to show price like that? also, what are those 2 extension levels?
edit:
I did the math and they look to be the 128 and 162 levels : )
I was thrown off because my charts have a different low on that swing you used to draw your fibs
I went short on GU at 1.6138 which was the 79% retracement optimal trade entry. Price was in the sell zone. I had my stop loss at 1.6168 and it was hit for -30 pips.
