Aliassmith Beats a "Dead Horse"

[aliassmith]

GBPUSD M5
Same day different play!

Based on $100,000.
Trade #1 5 lots
Trade #2 5 lots then the SL goes between the two orders
Trade #3 10 lots then the SL goes at zero risk of the combined position (somewhere where I marked it, it wasn't percise)

Exit can be whatever you chose but I liked the low seen on the H1 chart.

ends up being about 80 pips at full size or $16,000

One of those every month and you're not starving

Good thing it happens way more than once per month if you like to trade like that.

That one would be about $6000, 6% isn't bad.

[aliassmith]

GBPUSD M5
Same day different play!

Based on $100,000.
Trade #1 5 lots
Trade #2 5 lots then the SL goes between the two orders
Trade #3 10 lots then the SL goes at zero risk of the combined position (somewhere where I marked it, it wasn't percise)

Exit can be whatever you chose but I liked the low seen on the H1 chart.

ends up being about 80 pips at full size or $16,000

One of those every month and you're not starving

Good thing it happens way more than once per month if you like to trade like that.

SP500 M5
Same $100,000 FTMO example!

Max position size is about $1400/point.
At the max average and a 30 point move we get about $42,000
Not bad for a day's work 42% gain.
Ya they happen

[IgazI]

SP500 M5
Same $100,000 FTMO example!

Max position size is about $1400/point.
At the max average and a 30 point move we get about $42,000
Not bad for a day's work 42% gain.
Ya they happen

And the risk is:
4 losses = 1
2 losses = 1
and you shouldn't lose anything at 4 lots so the risk should be half the reward at a minimum, no? maybe not per trade, but on average. . .

correct me if I am not thinking clearly.

[aliassmith]

SP500 M5
Same $100,000 FTMO example!

Max position size is about $1400/point.
At the max average and a 30 point move we get about $42,000
Not bad for a day's work 42% gain.
Ya they happen

And the risk is:
4 losses = 1
2 losses = 1
and you shouldn't lose anything at 4 lots so the risk should be half the reward at a minimum, no? maybe not per trade, but on average. . .

correct me if I am not thinking clearly.

The risk is whatever you risk on your first entry. At the second entry you will have zero or very small risk. The third entry will be zero risk.

[Yirbu]

GBPUSD M5
Same day different play!

Based on $100,000.
Trade #1 5 lots
Trade #2 5 lots then the SL goes between the two orders
Trade #3 10 lots then the SL goes at zero risk of the combined position (somewhere where I marked it, it wasn't percise)

Exit can be whatever you chose but I liked the low seen on the H1 chart.

ends up being about 80 pips at full size or $16,000

Nice examples, thx!
I should have been able to trade the first one. Don't think I would have seen the second and I did see the third one but decided not to trade it. (can't remember why)

[Yirbu]

Today I had a bit of a mixed day trading the dead horse....
It's a bit of a long post...
On EU I took 3 trades; The first trade price went down after a doji and when price came creeping back up I closed it for +10.
In the second trade I tried to hold my trade a bit longer but price came back up and I got out at -1 (tried BE)
The 3th trade went to +10 but came back to my entry faster as expected so I got out at +4. (I tried to hold it longer again and wanted to see price go to the red line which is the daily ADR line)

220706 - EURUSDiM5.png (131.81 KiB) Viewed 1390 times

If I sticked with trading EU only I would have been happy....however I also traded GU, UC and EH.
All of these trades were losses so in the end I was at a tiny loss

In retrospective I shouldn't have traded the UC at all...price was not moving and I was trading into 2 big fat red candles.

220706 - USDCADiM5-Loss.png (187.96 KiB) Viewed 1390 times

EC...I chickened out...shouldn't have done that or I should re-enter and get my pips back.
I entered on the third small candle after the big momo candle. I tried to get wicked in but price kept going up.

220706 - EURCHFiM5-Loss.png (145.33 KiB) Viewed 1390 times

GU...I guess the move lost it's steam when I decided to finally trade this pair.

220706 - GBPUSDiM5-Loss.png (131.14 KiB) Viewed 1390 times

I'm going to stop trading (most) other pairs. Only trading EU should help. I always thought trading more pairs would give me more screentime and thus gain experience faster but it looks like it's counterproductive. Looking at my past trades I would be fine just trading EU.

[aliassmith]

Today I had a bit of a mixed day trading the dead horse....
It's a bit of a long post...
On EU I took 3 trades; The first trade price went down after a doji and when price came creeping back up I closed it for +10.
In the second trade I tried to hold my trade a bit longer but price came back up and I got out at -1 (tried BE)
The 3th trade went to +10 but came back to my entry faster as expected so I got out at +4. (I tried to hold it longer again and wanted to see price go to the red line which is the daily ADR line)

220706 - EURUSDiM5.png

If I sticked with trading EU only I would have been happy....however I also traded GU, UC and EH.
All of these trades were losses so in the end I was at a tiny loss

In retrospective I shouldn't have traded the UC at all...price was not moving and I was trading into 2 big fat red candles.

220706 - USDCADiM5-Loss.png

EC...I chickened out...shouldn't have done that or I should re-enter and get my pips back.
I entered on the third small candle after the big momo candle. I tried to get wicked in but price kept going up.
220706 - EURCHFiM5-Loss.png

GU...I guess the move lost it's steam when I decided to finally trade this pair.
220706 - GBPUSDiM5-Loss.png

I'm going to stop trading (most) other pairs. Only trading EU should help. I always thought trading more pairs would give me more screentime and thus gain experience faster but it looks like it's counterproductive. Looking at my past trades I would be fine just trading EU.

Yes I would suggest you trade 1 pair and 1 timeframe. If you like EU then use that. GU also does well.

Trading more pairs on high timeframe trading can be useful to get more setups. You don't need that on M5 chart.

Master 1 pair then maybe later add another.

1 pair
1 timeframe
1 method

[aliassmith]

Today I had a bit of a mixed day trading the dead horse....
It's a bit of a long post...
On EU I took 3 trades; The first trade price went down after a doji and when price came creeping back up I closed it for +10.
In the second trade I tried to hold my trade a bit longer but price came back up and I got out at -1 (tried BE)
The 3th trade went to +10 but came back to my entry faster as expected so I got out at +4. (I tried to hold it longer again and wanted to see price go to the red line which is the daily ADR line)

220706 - EURUSDiM5.png

If I sticked with trading EU only I would have been happy....however I also traded GU, UC and EH.
All of these trades were losses so in the end I was at a tiny loss

In retrospective I shouldn't have traded the UC at all...price was not moving and I was trading into 2 big fat red candles.

220706 - USDCADiM5-Loss.png

EC...I chickened out...shouldn't have done that or I should re-enter and get my pips back.
I entered on the third small candle after the big momo candle. I tried to get wicked in but price kept going up.
220706 - EURCHFiM5-Loss.png

GU...I guess the move lost it's steam when I decided to finally trade this pair.
220706 - GBPUSDiM5-Loss.png

I'm going to stop trading (most) other pairs. Only trading EU should help. I always thought trading more pairs would give me more screentime and thus gain experience faster but it looks like it's counterproductive. Looking at my past trades I would be fine just trading EU.

Yes I would suggest you trade 1 pair and 1 timeframe. If you like EU then use that. GU also does well.

Trading more pairs on high timeframe trading can be useful to get more setups. You don't need that on M5 chart.

Master 1 pair then maybe later add another.

1 pair
1 timeframe
1 method

How would you have done if you took 1.5x on every EU trade?

[aliassmith]

Hey IgazI stop sending me secret messages.

[Yirbu]

Today I had a bit of a mixed day trading the dead horse....

How would you have done if you took 1.5x on every EU trade?

Very interesting actually;
Only looking at my EU trades for the last 1,5 week and trading with no interference...just open and let it run...

78% was profitable
Of ALL EU trades 81% reached X1 and 65% reached X1.5.
This means that based on these trades it's more profitable if I don't interfere with my trades and just let it run to 1,5 or take a loss.

I will investigate the X1 vs the X1.5 a bit deeper because there will be slightly less trades to X1.5.
This is because in my analysis the trades run to X1 and are closed after that so a new trade can be opened.
If trades run longer, less trades are being opened because I would still be in a previous trade.

So I have learned a lot today...now see if I can make it work, ha, ha.

So...I'll let my trades run from tomorrow on.
I will investigate if I will go for X1 or X1.5. At least I know that I shouldn't close a trade for less than X1

Good question! thx