Managing trades that go wrong - I have decided to be a little more proactive here - up to now I took a profit or took a loss - i think that may not have been the correct course of action - well we shall see!
Trading does not always go to plan - so here is what I intend to do in future trades where price is is not playing ball - this s**t is even more important than when things are perfect - maybe -
What i am doing is - i expect price to do something immediately - when it doesn't - something is wrong - so the trade is sort of invalid - I am on alert to get out
p.s. This is just for me and my personal trading ideas.
Map o' Buried Treasure
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- Captain Pugwash
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Re: Map o' Buried Treasure
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
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- Captain Pugwash
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Re: Map o' Buried Treasure
First legitimate trade this year! Should have added really - but its a good start
I decided to ignore the trade I took whilst in hospital (idiot!)
I decided to ignore the trade I took whilst in hospital (idiot!)
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
- Libertarian
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Re: Map o' Buried Treasure
I was right there with you Capn (although not quite as good, I thought I would be accumulate like another trader on this site and catch it just a tad higher), really felt like a kick in the balls after seeing what happened. So glad to see you back at it.
Orange lines are exit and entry.
Orange lines are exit and entry.
- Captain Pugwash
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Re: Map o' Buried Treasure
Long time no post!
So here goes - Not a good year for me (up and down and illness - no excuse I know)
I don't know if its possible that what I have been trying to learn can hit you within a day but after a little back testing the idea I just jumped right in this week - first chart got tagged out by a tad.
2nd trade 11 pips
3rd trade 11 pips
4th trade - 12 pips scale and the other at about 40 pips
5th and last trade 12 pip scale and about 65 pips for the other half
so this was the result - just under 35 percent without any money management (I need to collate some figures to see what MM I need to use - as there are a few I am thinking of)
So, if this idea works as planned, I will use my "stop at a loser MM"...........lets see!
I blanked out the profit as its tiny - embarrassingly so As I am not up there with aliassmith and dchappy quite yet (I always look forward to either of your posts)
So here goes - Not a good year for me (up and down and illness - no excuse I know)
I don't know if its possible that what I have been trying to learn can hit you within a day but after a little back testing the idea I just jumped right in this week - first chart got tagged out by a tad.
2nd trade 11 pips
3rd trade 11 pips
4th trade - 12 pips scale and the other at about 40 pips
5th and last trade 12 pip scale and about 65 pips for the other half
so this was the result - just under 35 percent without any money management (I need to collate some figures to see what MM I need to use - as there are a few I am thinking of)
So, if this idea works as planned, I will use my "stop at a loser MM"...........lets see!
I blanked out the profit as its tiny - embarrassingly so As I am not up there with aliassmith and dchappy quite yet (I always look forward to either of your posts)
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
- Captain Pugwash
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Re: Map o' Buried Treasure
Finished this week nicely - one chance to add in to the last trade
a second add was planned but did not materialize.
(EDIT) The stop was moved to keep the risk the same, AFTER the add
a second add was planned but did not materialize.
(EDIT) The stop was moved to keep the risk the same, AFTER the add
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
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- Libertarian
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Re: Map o' Buried Treasure
Captain Pugwash wrote:Finished this week nicely - one chance to add in to the last trade
a second add was planned but did not materialize.
(EDIT) The stop was moved to keep the risk the same, AFTER the add
2017-10-13_1912.png
Looking good Capn, are those boxes your S&D or rockboxes?
- Captain Pugwash
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Re: Map o' Buried Treasure
They are only placed on "hidden gap" areas - nice to hear from you shipmate - all other areas are ignored (btw i like Gaps - not all folks do!)
Look at page one of this thread to look for what I mean by that - the secret is, they hold the supply demand areas if you mark up some charts- tho i do not use them as the creator of the website intended.
As doji said " sometimes you need to stop learning - and start thinking" something like that anyway.
So a GAPTASTICK week
funny thing is, I used not to trade the EU
Look at page one of this thread to look for what I mean by that - the secret is, they hold the supply demand areas if you mark up some charts- tho i do not use them as the creator of the website intended.
As doji said " sometimes you need to stop learning - and start thinking" something like that anyway.
So a GAPTASTICK week
funny thing is, I used not to trade the EU
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
- Captain Pugwash
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Re: Map o' Buried Treasure
HI Libertarian.
I thought of what I wrote yesterday in reply to your post
I should not have said "all other areas are ignored"
Rather that i only take action within those areas
I try to ignore nothing
I thought of what I wrote yesterday in reply to your post
I should not have said "all other areas are ignored"
Rather that i only take action within those areas
I try to ignore nothing
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
- Captain Pugwash
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Re: Map o' Buried Treasure
pretty shitty week - so much so I felt i had forgotton how to trade
But, the last one was nice - btw each time I added, I moved the stop, eventually until I was in profit - whatever happened.
The exit was pure luck - I just wanted to get out - as time was getting short
But, the last one was nice - btw each time I added, I moved the stop, eventually until I was in profit - whatever happened.
The exit was pure luck - I just wanted to get out - as time was getting short
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"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
- Captain Pugwash
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Re: Map o' Buried Treasure
I reentered Fridays trade as unfinished business! - and at a slightly better price to boot!
I used all the lots that I took off on Friday night - so a nice result
now i reset my lots to start at 0.8% initial trade amount for my accounts and go again when ready
I used all the lots that I took off on Friday night - so a nice result
now i reset my lots to start at 0.8% initial trade amount for my accounts and go again when ready
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
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