Let's get real, Wizzle's log

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Don_xyZ
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Re: Let's get real, Wizzle's log

Postby Don_xyZ » Thu May 12, 2022 8:59 am

aliassmith wrote:
Wizzlebizzle wrote:Oke, im taking a break. Took a couple of -10 losses in a row on GU. All of them in my plan apart from one.


Figure out how to not use 10 pips SL. Get them down to 8 if you can. Your screen is cropped so much I dont know what timeframe you are on.


Exactly what I said. It takes more effort to crop than to post the chart as is. Most charts posted had no timestamp, price grid and pair info.
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Re: Let's get real, Wizzle's log

Postby Wizzlebizzle » Thu May 12, 2022 9:02 am

aliassmith wrote:
Wizzlebizzle wrote:+6 on EA
Had a bigger target in mind, but I saw I had missed a level on the left (See chart, orange line is entry)

I still chicken out of trades too often. Any advice on this one?


Breath and lower your size. When you are comfortable move the size up a bit.


Interesting, it actually crossed my mind to scale up my position size because I am playing for peanuts atm. I noticed this when I was playing poker years ago, I did a lot better when I had more money on the table because I wouldn't place silly bets "because it didn't matter if I would loose".

Contradictory I know.

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Re: Let's get real, Wizzle's log

Postby Wizzlebizzle » Thu May 12, 2022 9:06 am

aliassmith wrote:
Wizzlebizzle wrote:Oke, im taking a break. Took a couple of -10 losses in a row on GU. All of them in my plan apart from one.


Figure out how to not use 10 pips SL. Get them down to 8 if you can. Your screen is cropped so much I dont know what timeframe you are on.


I shall have a look at that. Would one idea, for example, be to simply forgo trades that require a larger stop?

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Re: Let's get real, Wizzle's log

Postby Wizzlebizzle » Thu May 12, 2022 9:06 am

Don_xyZ wrote:
aliassmith wrote:
Wizzlebizzle wrote:Oke, im taking a break. Took a couple of -10 losses in a row on GU. All of them in my plan apart from one.


Figure out how to not use 10 pips SL. Get them down to 8 if you can. Your screen is cropped so much I dont know what timeframe you are on.


Exactly what I said. It takes more effort to crop than to post the chart as is. Most charts posted had no timestamp, price grid and pair info.


Thanks, ill have another go at posting the charts differently

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Re: Let's get real, Wizzle's log

Postby aliassmith » Thu May 12, 2022 9:11 am

Wizzlebizzle wrote:
aliassmith wrote:
Wizzlebizzle wrote:Oke, im taking a break. Took a couple of -10 losses in a row on GU. All of them in my plan apart from one.


Figure out how to not use 10 pips SL. Get them down to 8 if you can. Your screen is cropped so much I dont know what timeframe you are on.


I shall have a look at that. Would one idea, for example, be to simply forgo trades that require a larger stop?


If it needs 10 pips then thats what you use. I noticed in my trading that 10 was to arbitrary and I could get down to 2 pips and 6 pips etc.
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Re: Let's get real, Wizzle's log

Postby Wizzlebizzle » Thu May 12, 2022 9:15 am

aliassmith wrote:
Wizzlebizzle wrote:
aliassmith wrote:
Figure out how to not use 10 pips SL. Get them down to 8 if you can. Your screen is cropped so much I dont know what timeframe you are on.


I shall have a look at that. Would one idea, for example, be to simply forgo trades that require a larger stop?


If it needs 10 pips then thats what you use. I noticed in my trading that 10 was to arbitrary and I could get down to 2 pips and 6 pips etc.


Alright, they were roughly 10 pips by coincidence in this case. I have seen how you do it with the Deadhorse where you seem to use a multiple of R for your target. Haven't quite seen how to get it down to 2-6 pips on GU though, interesting!

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Re: Let's get real, Wizzle's log

Postby Don_xyZ » Thu May 12, 2022 9:29 am

Wizzlebizzle wrote:
aliassmith wrote:
Wizzlebizzle wrote:Oke, im taking a break. Took a couple of -10 losses in a row on GU. All of them in my plan apart from one.


Figure out how to not use 10 pips SL. Get them down to 8 if you can. Your screen is cropped so much I dont know what timeframe you are on.


I shall have a look at that. Would one idea, for example, be to simply forgo trades that require a larger stop?


1. Go to a lower tf, you will get a smaller stop.
2. Ignore the trade.
3. Wait for a pullback into that big candle on the very next candle. If it's a structure then wait for a pullback into that structure for a discounted stop.
4. Divide the size into 2 for example. 1 for putting smaller stop the other for the full 10 pips. You can play with the risk size for each position based on the stats of same occurrences that you already observed.
5 Take the full 10 pips stop and then move your stop to decrease the stop size after the market is positively moving into your profit.
6. Divide your size into whatever stop size you desire and then enter accordingly. Example, you prefer 5 pips stop then open 1st position with 5 pips stop and put a pending order at the stop and use 5 pips stop. If successful, your 2nd trade won't be triggered. If not then 1st trade might die and 2nd might survive. Worse scenario is you lose both.

There are more options if you contemplate on it much longer.

And of course, each solution comes with their own pros and cons.
Last edited by Don_xyZ on Thu May 12, 2022 9:35 am, edited 1 time in total.
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Re: Let's get real, Wizzle's log

Postby Wizzlebizzle » Thu May 12, 2022 9:31 am

+12 on GU

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Re: Let's get real, Wizzle's log

Postby aliassmith » Thu May 12, 2022 1:03 pm

Wizzlebizzle wrote:
aliassmith wrote:
Wizzlebizzle wrote:
I shall have a look at that. Would one idea, for example, be to simply forgo trades that require a larger stop?


If it needs 10 pips then thats what you use. I noticed in my trading that 10 was to arbitrary and I could get down to 2 pips and 6 pips etc.


Alright, they were roughly 10 pips by coincidence in this case. I have seen how you do it with the Deadhorse where you seem to use a multiple of R for your target. Haven't quite seen how to get it down to 2-6 pips on GU though, interesting!


My bad you were asking about GU. Anyways I have an EU pic with a smallish SL
I looked at the M1 chart for some clues
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Re: Let's get real, Wizzle's log

Postby Wizzlebizzle » Thu May 12, 2022 1:14 pm

aliassmith wrote:
Wizzlebizzle wrote:
aliassmith wrote:
If it needs 10 pips then thats what you use. I noticed in my trading that 10 was to arbitrary and I could get down to 2 pips and 6 pips etc.


Alright, they were roughly 10 pips by coincidence in this case. I have seen how you do it with the Deadhorse where you seem to use a multiple of R for your target. Haven't quite seen how to get it down to 2-6 pips on GU though, interesting!


My bad you were asking about GU. Anyways I have an EU pic with a smallish SL
I looked at the M1 chart for some clues


Short at the pinbar?

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