How to be a MOnster

[Mira]

HORRIBLE DAY.
Red red red.

I’m going to post the charts in the evening, not proud of me today

[paweldobkowski]

HORRIBLE DAY.
Red red red.

I’m going to post the charts in the evening, not proud of me today

keep your head up man!
this is the part of the process

[aliassmith]

HORRIBLE DAY.
Red red red.

I’m going to post the charts in the evening, not proud of me today

I'm not sure how you are trading but trading the small timeframes on forex can be a challenge because the ranges have got tight.
you might get away with a 5 pip stop loss with good entries and 3 to 9 TP.
It can be done and I would use as small of a size as you can to learn.
Blowing up your account because you are over leveraged based on your skill is not a good path.

[Mira]

Thanks guys!

No electric power yesterday, sorry.
However I analysed the charts and I saw my faults: I holded more than the target and price closed against me blowing my profits.
Then I traded the reversal but reversals are tricky sometimes..

However, nothing irreparable!

Thank you for the support

[Mira]

Based on what I’ve seen in the latest weeks my first target is always around a 1:0.5 RR and the second one is 1:1 (I mean from the hard stop loss - thus not my IF/THEN line)

When the entry timing is correct price almost always reaches the first target and at the moment I’m scaling out 50% of the position to hold the remaining part until the second target (that sometimes it never reaches).

However if stats says that I have more probabilities of reaching target one why should I hold more than that?

[aliassmith]

Based on what I’ve seen in the latest weeks my first target is always around a 1:0.5 RR and the second one is 1:1 (I mean from the hard stop loss - thus not my IF/THEN line)

When the entry timing is correct price almost always reaches the first target and at the moment I’m scaling out 50% of the position to hold the remaining part until the second target (that sometimes it never reaches).

However if stats says that I have more probabilities of reaching target one why should I hold more than that?

Stats are fluid based on market conditions so consider them when you consider your stop/targets. Also if waiting for a second target is not probable for you then don't do it. You will definitely need to find a balance between accuracy and profitability. It takes some trial and error but you can figure out when you make money and replicate your trades only during those conditions.

You have to ask yourself...When have I been successful?
Once you find the answer to that you just practice that like a robot.

[Mira]

Ahhhhh i'm back to trading and i'm starting the week with a few losses

Wrong entries..

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[Mira]

I made one month or a bit more floating around break even, i'm shy of posting today's charts.. totally nonsense. RED.

I don't know what to say, very frustrating. I love trading but trading doesn't love me.

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[Mira]

This is not a day of a trader close to be profitable i guess.

[aliassmith]

I made one month or a bit more floating around break even, i'm shy of posting today's charts.. totally nonsense. RED.

I don't know what to say, very frustrating. I love trading but trading doesn't love me.


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You have SEMA on your chart. Trade AWAY from the #3
Not an Hour after the #3 but look for PA soon after for confluence soon after
you can probably get 30+ pips per trade and lose less than 10 on average

Scalping the 5m charts is tough, swinging them might be easier.