have u given any thought to that market aproach i ve given you? try that out for a week dude, i know t s difficult having payed for that astro course etc, but trading should be cristal clear, easy and not much confusion going on. anyways, good luck
Hi! No I have not backtested it to be honest, I first want to get this system down, and then go for yours. Been putting so much time in making this system work, that I don’t want to let it go yet. I know it’s profitable when applied correctly. However, I definitely didn’t forget the system you proposed. While I’m trading this current system, I sometimes spot setups like you presented, but I have not been backtesting them, I am aware and I am eeping an eye out while trading the markets!
From now on, I will only upload my monthly results. I’ve noticed that I’m too focused on weekly results. I’m here for the long run, not for weekly snapshots. I’m active on babypips everyday, but won’t be posting every week.
It’s good to see someone share their strategies. I am tired of my own charts. Want to see what others are doing.
How about weekly and then monthly wrap up. Best of both worlds!
I get your point, but like I said in my previous post, I became too fixated on my weekly results. That affects me negatively, weekly snapshots don’t mean anything, the shortest timeframe for benchmarking are monthly results in my opinion. So I just stick to that
Great month overall, ended November with break-even results, the first month of not losing money with this system. Improving bit by bit, day by day, let’s aim for a solid profitable month at the end of the year!
You are brave to post these results. The sign of a true trader who will have an excellent chance of success in the future. I could not agree with you more. Any daily or weekly impact on results is transitory. I was tracking our Crypto portfolio daily for 3 months, then weekly up until November. I do look at the top 10 cryptos daily, but I try not to look at the fiat value of the holdings too often. Seeing daily swings of up to 10% in the market overall and up to 50% in individual holdings can put you off - even ruin your day, if you are not careful. Please keep up the reporting. It is very motivating.
Thanks for your kind words, much appreciated! I will stay updating this thread, I enjoy posting on this thread. I’m glad you like it as well!
OMG! Haha I recently made this a rule in my own system: Late entry= no trade.
I’ve jumped in late thinking I would be ok, then bam! Hit my SL.
I’m trying to get into a routine of setting alerts for trades that COULD be coming. Setting alerts and creating a watchlist are useful tools.
Sometimes trading isn’t all about indicators and patterns.
Sometimes, it’s just about being organized and disciplined.
Could not agree more. The first thing I do in the morning is set up my watchlist according to my own criteria, which is a very binary routine. The ruthless process of confronting yourself with your flaws, biases and errors, is the most crucial thing to become profitable, at least in my experience.
Yeah, and confronting yourself really sucks. Telling yourself, “this is a bad habit, and I have to let go of it in order to improve.”
It’s rough because you can set reminders, but the next day you’ll be doing the same exact thing. You gotta catch yourself repeating those bad habits, and make a different decision.
This is my problem.
“You are confined only by the walls you build yourself”. A wise man once said
True! But sometimes I can’t even SEE the walls, man!
I’m blinded by my own emotions. I recently did a market analysis. A small development in my strategy. Kind of a guide for each pair I trade.
I thought I would see everything more clearly.
I sit down at my computer. Two hours later, I haven’t placed a single trade. I tried to set an order, but I doubted myself. I erased it and worked on a different order for the same pair, GBP/USD.
I repeated this for two hours. I realised I was getting anxious and had trouble sitting still. So, I went out to the store for a bit, to clear my head.
Sometimes, you just gotta walk away and take a break, because you’re overthinking things
Due to some downtime I had a chance to read majority of this thread this morning lol, and its an awesome read. Its nice to see the journey of others, helps to ease the feeling of being totally alone as a trader. I also share a lot of similar lessons yourself and @dushimes have learned along the way. My most recent was the same thing about setting alerts, but I found an alert would go off while I was working and so I’d miss out on the entry to trade itself. My solution was to then place pending orders which up until the market this week has been going good.
Thanks for sharing your journey thus far, ill be sure to follow along
Yup. We’re all learning and sharing lessons. The hardest battles lie within.
We’re all trying to control our own emotions for the sake of clear thinking and risk management.
Just recently the AUD/USD started ranging a bit on the D1/H4. I didn’t really feel confident in shorting that range.
I knew I had missed the opportunity because the major trend is bullish, but I placed the sell order anyway.
Sure enough, I hit my SL just a little bit ago. The only good thing about that trade is that I let the trade run its course until the end, and the lesson I learned about going against the trend: don’t do it unless your entry is perfectly early and the TP is modest. Well, at least that will by my rule, going forward.
Trading is a hard game, and it will introduce you to your true self. We just have to endure, learn, repeat.
I appreciate that man. Trading can be very lonely indeed, it’s nice to talk to other traders from time to time. We’ll definitely stay in touch!
Psychology is at least 80% of the trading game. I don’t know if you have already read some books about trading, but I am currently reading ‘trading in the zone’, among some other books I have already finished. These books have really helped my trading psychology.
End of the year! Made a small profit in December, started off with a great trade that made me around 3,40%, but unfortunately gave some profits back. Happy new year everybody!
The people who have read the whole thread, know that I switched to a different strategy in June, at that time I decided to only share the results from the new strategy. From now on, I will share the results of my full 1000 euro account, including the results from my old strategy.