You never know what could have happened. I am a trader and I do this for a living. I protect capital when I am in the profit. My first intuition is usually right however this particular trade could have easily have reversed and then what would you have been saying then. As you can see it was choppy on a downward move and noone can predict where price will head to. Only can base it on my best intuition. I am not perfect, nor do I always make the right decision, but my trading plan is to always protect capital and to never look back. Believe me when I thought the breakout was gonna occur for 40 pips at that moment. If I was on demo I would have held onto the trade without any emotion but I have my own money at risk in all my live accounts. Theres always another setup and it may not be tonight but I want you to know some key points of my trading plan.
Stop will not be more 20-40 pips above the high. The euro yen is usually more then the other pairs i follow because of volatility.
Stop will be moved to be +1 when theres a profit of 15-20 pips. Sometimes I will take profit early depending on price action.
If you dont like my exit strategy I am sure theres a way to override any of my trades exits once an entry is made.
Zulu said they will forward it to the IT department. :). I highly doubt anything will be done since I am probably the first signal provider to ever make a dumb request. LOL
And btw theres a good possibility I would have gotten stopped out for 30 pips on a retracement. I couldānt set the stop at the high because it would had been around 55 pips. When this is the case, I try to limit my risk exposure almost immediately
You go friend!! Dont feel so bad you might not know how things are! it doesnt sound so irrational, your statement, as i told you followers can become really bratty that are hard to get to handle.
I apologize also. I have another full time job along with my full time job trading forex. If I could trade longer hours I would catch more opportunities. There was another short trade signal on the same pair last night and this was a monster while I was sleeping . Wish the first trade behaved as such. If I could supplement enough income from zulu, I would do this full time (60 hours a week). and be in more trades . Since my sales job is slow I depend on my forex income more so.
dont worry about it! you trade as much as you can after all followers care for GOOD results exclusively, so donāt fall into the loop for producing more results that you are asked for and then actually start performing poorly!
Update: Only found one signal tonight. So far its been a rough trade so far. Its almost 5am here and I need to sleep. Set a stop of 20 pips and a tp of 20 pips (1 to 1 risk reward) and I am letting the trade go on its own. Sorry guys
I got Slippage on my stop. Donāt mind this trade because it was within the trading plan. Harmonic trades donāt always work If anyone asks why fight the daily trend. Confirmation was long. Oh well
Took a news trade on tiger and didnāt work out for -10 pips. (bad entry). Horrible news came out for the GBP. I need to get better at this and wont risk too much on my real account until i am ready. I am fine tuning my strategy to try keeping my stops under 15pips and and going for profits of 25 or more. I will be practicing more on Ohana tonight. There will be alot more trades a night and more pips for all of us. Theres nothing wrong with the old strategy but lately my risk reward ratios been negative. It was initially positive on Ohana and I am unsure if its because of the followers joining and the need to worry about others money, not just my own. I want to trade how I preach to all of you. I been following a 15 minute and noticing its late to the party so am changing my signals to a lower time frame. 2 of my trades on Ohana stopped out because of bad entries. The successful ones went for 50 pips and grabbed 18 and 24. 10-15 pip stop achieving 25-50 pips is the short term goal. I apologize for the recent small losses but please bear with me for the time being. I am holding myself accountable to improve my own trading and to keep my followers for the long term.
Only Ohana will be traded temporarily for now.
Also for those located in the US you should access zulu thru UK. There are some restrictions regarding posts.
I lost some signal providers recently because of a -50 pip total loss recently. I wish them luck finding a profitable provider whose keeping his risk under 20 pips. Have faith guys and because I will start another live account in the future and it will be invite only. I dont think I want more then 100-200 followers so I am saving all my emails and deleting the ones who left.
Maybe 20 pips is just too tight , as for my setting 50 to 100 pip loss is okay as long as there is discipline with the SL and opeming not too many trades at the same time. Well this is just my opinion.
Good strategy! donāt beat yourself too much for the trading, you know how it gets somedays you win, somedays you loose as far as you are averaging and the gains are bigger than the losses then things are fine
yeah i agree with you Yeoplas. I developed a plan for tomorrow. 20-25 stop I should be ok. Discovered theres no way I can keep it under 15 pips. Took 16 hours of screen time to figure out my own trading emotions. Although profitable there will times I will need to always check myself. When my risk reward gets so out of whack its best I stop trading and to analyze my own decisions and not put my own account at risk. If you ever get the chance read the Book āTrading in the zoneā by mark Douglas. Actually every trader should read this book to help with the emotional aspect of trading.
Ended the week down 25 pips on my live tiger account. Practice trades on Ohana to accept smaller stops with the same strategy didnt work out well for me. Made me realize I still can go for larger profit targets with larger stops. Decided to go back to the same strategy I been using for years and low and behold tonight I am back to profitability. Increased my lot size tonight and will be increasing weekly to equate my risk to 2% per trade in this particular account. I appreciate the followers who still have faith in me. I dont expect to grow any account quickly by entering multiple trades nor do I randomly take trades which will only be taken on the ohana demo account. If I do end the week negative i dont expect it should be much. For any of you out there should I keep journaling my thought process? I was thinking about just posting profit loss and if there were any questions I will answer them in a timely manner. Maybe all this gibberish scared away many of you but the sole reason of this journal was to improve upon my own trading. Not sure if it did. I do wish everyone a great weekend and see you all next week.
