Patterns Observation.

[aliassmith]

Hi and good day everyone!

I took this trade 2 trading days ago and this was actually a mistake that nobody should do. This single trade yielded 63.7% profit although this is but a grain of sand in the presence of MO, dragon33, and the rest of the gang. I believe someone recorded a massive 400%+ profit back then though the username failed me this time.

#CLDaily.png
#CLH4.png
#CLH1.png


So what happened was... I was still sick but then I saw this massive setup building up from H1, H4 all the way up to the daily time frame. Plus all the drama about the situation in Europe. All led me to believe a further drop is encroaching. The daily range for oil has been up drastically so I figured getting hundreds of pips in one go wouldn't be a problem at all as long as the cake is still hot. What I decided was, I entered short, and because I was so sure that I was going to bank I removed the limiter (i.e. the SL). A tight 20 - 30 pips SL on WTI would do pretty well under normal circumstances but these ain't calm times! I calculated my whole risk and went on with it. Along the way, the position went up against me by around 590 pips at its peak but the H4 time frame's big bearish candle's 50% is too mighty for the bulls to overcome and then the daily tf closes with another weakness following the massive drop day from before. Eventually, there is really no more steam to the bulls train and the price is where it is now. I know I set a Take Profit level down there but hey, things can go wrong and my spidey sense is screaming to get the hell out!

I only wish I stacked my positions as it went down coz this was how someone flipped a mere $200 to $190k last year only he did it in a matter of hours (sheesh) (this lucky world record is a well-documented achievement though and you can find it on youtube ). If it is allowed to post this video and there are people who are curious enough to fact-check me just let me know by replying (otherwise how would I know, right?) and I will be glad to put up the vid. It's not like I'm gonna get anything beneficial out of this vid anyway, just want to show the freak side of the trading world (coz it's fun lolz)

Trading without a Stop Loss is a disaster and it goes against all conventional wisdom in trading but the flip side is awesome should you get it right. I was lucky this time and it sure feels great when you are really lucky but... it sucks when it piss on your face.

For this trade, my R is what...? Zero? Error? Let's just say it's "R" rated! LOLZ

Mistake #1: no stoploss is a losing gambler idea
A better option is a small entry then add as it goes in your favor.
Mistake #2: comparing your outcomes to other traders especially the degenerates on YT.

You seem like someone that wants to stay in the game for years to come. You must manage your capital like a professional
It takes a 100% return to cover a 50% loss. I'll say no thanks to that.

[Don_xyZ]

Yes, not using stop loss is bad. 1,000% agree on that, aliassmith.

Comparing trade results is a healthy way to improve provided we take it seriously. What’s important though is the lesson(s) that I can take from those traders. After all, isn’t taking what’s good and leaving what’s bad a way to improve ourselves? But I did say “lucky” trader so it’s not like the trader is able to replicate this kind of performance day in and day out. The goal of me saying that was to see the possibility outside our own capability under the right conditions. I am fond of such performance mainly because I want to know and pin down the exact elements that are required to generate such results. I’m not aiming to make a trillion percent a year lolz but the mastery of the craft is what excites me.

So here’s another trade I took after that oil trade.

XAUUSDDaily.png (37.13 KiB) Viewed 5512 times

XAUUSDH4.png (40.37 KiB) Viewed 5512 times

XAUUSDH1.png (42.14 KiB) Viewed 5512 times

XAUUSDM5.png (53.81 KiB) Viewed 5512 times

Similar thing with the oil and the timing and placement of that bearish engulfing candle couldn’t be better. After this, the 50% of H4 bear stood firm and a bullish candle with a big upper shadow was printed. The following candles could not shake that big shadow and we have another red coming in to engulf the green. The market structure then formed due to the bearish candle closing below the zone and all subsequent candles closed lower than the last bullish stand before the week is over. Monday saw the hesitation during most of the Asian session before the bears finally stepped in and then boom!

I did not put a stop loss on this trade also however, the black line was the level where I would exit the trade/ cut my loss. As it turned out, it’s a clean zone.

[Don_xyZ]

Weekend is trip day.
I hope to recover my mental state.
Not gonna post long coz I hate using Ipad.
One of the biggest challenge I face is finding, holding and maintaining an Anchor position.
This position is geared toward massive R to cover for losing scalp trades and also bring some additional profit as the trend is pumped to the max by the big dogs.

Entries are all using momentum. My style.

Legend:
Rectangales are entries
Ellipse is anchor entry
Yellow trend lines are targets
Anchor position must be aligned with the “potential” market bias on bigger time frame of your choice, in this particular case is the H1. Target for anchor is using H1. Stop for anchor follows momentum in small tf.
For scalp trades, target and SL all is based on small tf (of course, right?)







I tried uploading directly to kreslik but it said files too large so I used pix host site. When an entry present itself, pull the trigger. Unless you’re not sure what you’re doing and in such case, increase your screen time a lot more to build your confidence.

[Don_xyZ]

Now that I’m thinking about it…. the small(er) time frame is actually very slow and the big(ger) time frame is actually a lot faster. Switching tf is like pressing that slo-mo button on and off. This is weird…

[aliassmith]

Now that I’m thinking about it…. the small(er) time frame is actually very slow and the big(ger) time frame is actually a lot faster. Switching tf is like pressing that slo-mo button on and off. This is weird…

"the small(er) time frame is actually very slow and the big(ger) time frame is actually a lot faster."

Can you elaborate?
I believe it to be the opposite.

[Don_xyZ]

Now that I’m thinking about it…. the small(er) time frame is actually very slow and the big(ger) time frame is actually a lot faster. Switching tf is like pressing that slo-mo button on and off. This is weird…

"the small(er) time frame is actually very slow and the big(ger) time frame is actually a lot faster."

Can you elaborate?
I believe it to be the opposite.

Yes, if you think about the speed of time passing. However, there are several reasons why I think it's the opposite when it comes to trading:

1. When the candle on Monthly time frame is finished a trader will already be late because by that time, the price might already move hundreds if not thousands of pips. Those are the potential pips that we could pocket if we use one or two tfs below the monthly tf.

2. When you use the daily or h4 instead of monthly, you have a lot more time to trade before the price get to the target in the monthly candle because there might be several fractals with different combinations along the way.

3. And since a 3R trade is the same across tfs then with the daily or H4 tf we will be collecting more R before the trend ends in the monthly chart.

4. We trade because there is a potential to make money faster while enjoying the process but most importantly the money enables us to have more time at hand. If we are using the weekly tf we are spending time faster and because 3R can be generated from every tf then the cost of that R is what's important. The cost in terms of time. How much time did you spend to get that R?

5. It only takes 1 monthly candle to lose a month in life.

6. Money lost in trading can be recovered but the time lost while getting that R is lost forever. Imagine what can be done with additional time. One can master a new language or acquire new skills or build/repair relationship. Travel the world or try new things, maybe? Time and money to spend is a great combination.

[Don_xyZ]

Yesterday's are gone.
Some trades are not worth taking.
Some other trades are losers.
Minimize loss, optimize profit.

According to the immediate bias in H1 the Anchor trade is maxed out already but then... comes the D1. Anchor trade is already at 32R+ but there is a potential to make 190R+

Question #1 What will you do in this situation? Will you bail? Will you hold?
Question #2 Will you bail if this is a $1 per pip? Will you hold?
Question #3 Will you bail if it's a $100 per pip? Will you hold?
Question #4 What if it's a $5k per pip? Will your body shake in fear of losing the unrealized profit that you already have or will your body start shaking because of the potential profit that might come fast?

Those same questions came from someone else, not me. I paraphrase.... "the difference between them and me is that they will shake when it's $5k per pip and their mental state will falter"

Start slow and then step on that gas like death is chasing you.

Now the charts...

EURUSD 5 minute chart

EURUSDM5.png (61.64 KiB) Viewed 5204 times

EURUSD 1 hour chart

EURUSDH1.png (49.69 KiB) Viewed 5204 times

EURUSD Daily chart

EURUSDDaily.png (38.05 KiB) Viewed 5204 times

I figured 08:00 or 09:00 up to 16:00 is the best time span for me to scalp or find potential anchor trade. What about you? Please share. Thanks!

Y'all have a great day!

[aliassmith]

Yesterday's are gone.
Some trades are not worth taking.
Some other trades are losers.
Minimize loss, optimize profit.

According to the immediate bias in H1 the Anchor trade is maxed out already but then... comes the D1. Anchor trade is already at 32R+ but there is a potential to make 190R+

Question #1 What will you do in this situation? Will you bail? Will you hold?
Question #2 Will you bail if this is a $1 per pip? Will you hold?
Question #3 Will you bail if it's a $100 per pip? Will you hold?
Question #4 What if it's a $5k per pip? Will your body shake in fear of losing the unrealized profit that you already have or will your body start shaking because of the potential profit that might come fast?

Those same questions came from someone else, not me. I paraphrase.... "the difference between them and me is that they will shake when it's $5k per pip and their mental state will falter"

Start slow and then step on that gas like death is chasing you.

Now the charts...

EURUSD 5 minute chart
EURUSDM5.png

EURUSD 1 hour chart
EURUSDH1.png

EURUSD Daily chart
EURUSDDaily.png

I figured 08:00 or 09:00 up to 16:00 is the best time span for me to scalp or find potential anchor trade. What about you? Please share. Thanks!

Y'all have a great day!

I think you conflated R values and pip values.
I have only made 30R+ once so Im not a good judge.
Give me 5 pips at $5k a pip and im done for the day.
I"ve only ever done a max 100 lot trades So I cant judge 500 lot trades.

Scalping can be done whenever. I prefer when London is open 2am to noon EST.

[Mr. Hyde]

Yesterday's are gone.
Some trades are not worth taking.
Some other trades are losers.
Minimize loss, optimize profit.

According to the immediate bias in H1 the Anchor trade is maxed out already but then... comes the D1. Anchor trade is already at 32R+ but there is a potential to make 190R+

Question #1 What will you do in this situation? Will you bail? Will you hold?
Question #2 Will you bail if this is a $1 per pip? Will you hold?
Question #3 Will you bail if it's a $100 per pip? Will you hold?
Question #4 What if it's a $5k per pip? Will your body shake in fear of losing the unrealized profit that you already have or will your body start shaking because of the potential profit that might come fast?

Those same questions came from someone else, not me. I paraphrase.... "the difference between them and me is that they will shake when it's $5k per pip and their mental state will falter"

Start slow and then step on that gas like death is chasing you.

Now the charts...

EURUSD 5 minute chart
EURUSDM5.png

EURUSD 1 hour chart
EURUSDH1.png

EURUSD Daily chart
EURUSDDaily.png

I figured 08:00 or 09:00 up to 16:00 is the best time span for me to scalp or find potential anchor trade. What about you? Please share. Thanks!

Y'all have a great day!

I think you conflated R values and pip values.
I have only made 30R+ once so Im not a good judge.
Give me 5 pips at $5k a pip and im done for the day.
I"ve only ever done a max 100 lot trades So I cant judge 500 lot trades.

Scalping can be done whenever. I prefer when London is open 2am to noon EST.

190R!!! I defer to the new master of swinging for the fences. If your really up 32R i would normally say close, compound and wait for a retrace and reenter. But these markets have been insane lately. So that 1hr chart might not be maxed out in these strange times.

Alais was that when you made like 150% on FOMC day?

[aliassmith]

Yesterday's are gone.
Some trades are not worth taking.
Some other trades are losers.
Minimize loss, optimize profit.

According to the immediate bias in H1 the Anchor trade is maxed out already but then... comes the D1. Anchor trade is already at 32R+ but there is a potential to make 190R+

Question #1 What will you do in this situation? Will you bail? Will you hold?
Question #2 Will you bail if this is a $1 per pip? Will you hold?
Question #3 Will you bail if it's a $100 per pip? Will you hold?
Question #4 What if it's a $5k per pip? Will your body shake in fear of losing the unrealized profit that you already have or will your body start shaking because of the potential profit that might come fast?

Those same questions came from someone else, not me. I paraphrase.... "the difference between them and me is that they will shake when it's $5k per pip and their mental state will falter"

Start slow and then step on that gas like death is chasing you.

Now the charts...

EURUSD 5 minute chart
EURUSDM5.png

EURUSD 1 hour chart
EURUSDH1.png

EURUSD Daily chart
EURUSDDaily.png

I figured 08:00 or 09:00 up to 16:00 is the best time span for me to scalp or find potential anchor trade. What about you? Please share. Thanks!

Y'all have a great day!

I think you conflated R values and pip values.
I have only made 30R+ once so Im not a good judge.
Give me 5 pips at $5k a pip and im done for the day.
I"ve only ever done a max 100 lot trades So I cant judge 500 lot trades.

Scalping can be done whenever. I prefer when London is open 2am to noon EST.

190R!!! I defer to the new master of swinging for the fences. If your really up 32R i would normally say close, compound and wait for a retrace and reenter. But these markets have been insane lately. So that 1hr chart might not be maxed out in these strange times.

Alais was that when you made like 150% on FOMC day?

It was when they first was doing something with Brexit