Aliassmith Beats a "Dead Horse"

[aliassmith]

So...today I didn't really trade. I wanted to but when EU started falling after London open I did not know how to profit from that move. Because it was NFP day I'm always a bit extra careful.
After price cratered and bounced of the daily low ADR I wanted to short it but price was too far from the sma for my liking so I decided to switch to the m1 and found my trade over there. I took a sneaky 2R. I felt a bit like a thief in the night, ha ha

220708 - EURUSDiM1.png

After that I took one more trade and went out to enjoy the sun.
This wasn't the best setup but I took 1.5R

220708 - EURUSDiM5.jpg

Next week I am going to continue doing what I have been doing and see where I end up.
Goal will be to see if I can hold trades a bit longer (TP is a suggestion, ha, ha) because with my second trade I had a feeling the down move was going to be zeroed out.

This week wasn't bad at all mainly because I learned a lot.
So thanks for looking at my trades. I appreciate it a lot.

My plan is to try and see if I can take at least 1R out of the market every day on average. So 5R for the week.
I know for you guys it can be a single trade but for me it'll be a huge achievement.
If I am able to do that I can learn more and different ways to trade, but I can't learn to run before I can walk in a straight line.

Today I found the threads of Don_xyZ and IgazI. I thought I had read all the threads on Kreslik...Guess not.
Nice...stuff to read.

- Btw; Don't know why my m1 chart prints so big. It's huge

Looks good
20R a month is a decent target, but don't let that get in the way of your trading. Having goals was actually a limiting factor for me when I trade. The trick is to set yourself up for success and let it play out.

TP was a suggestion because I wanted you to see you was short changing your profits. TP makes more sense from market conditions instead of an arbitrary number.

No disrespect to the other guys on here, but I would suggest you stay away from their content for awhile. If anything read Lem's thread where he posts deadhorse. You don't master a chainsaw by studying 2 man pull saws. Stay focused on 1 method, 1 pair and make it happen.

A big failure problem in this business is "the grass is always greener......" syndrome. There is also the "chase the new shiny thing" disease.

[aliassmith]

I guess I'm done messing with The Prop Trading account

Their cost (spread+comm) on
EURUSD is .8
AUDJPY is 1.5
GBPUSD is 1.5
SPX500 IS .75

I averaged over 6% a day.

[aliassmith]

GBPUSD M5
4th trade was a loss of 1/2R or about 7 pips.

approx. 20 +20 +10 -7 +20 +20

[aliassmith]

EURUSD M5
London early

easily a 12 +10 + 12 + 13

[Jhx]

GBPUSD M5
4th trade was a loss of 1/2R or about 7 pips.

approx. 20 +20 +10 -7 +20 +20

In an attempt to learn:

#1 is a zline trade entering when price came back, right? Any reason why you placed your stop there and not at the top of the previous candle?

#2 I don't know if that entry has a name but I guess it's a breakout of the low after that large pinbar.

#3 Rat entry. And reason why you took that one and not the one that happened 2 bars before?

#4 Another rat entry. But important question here: how did you decide to close that one with a 1/2 R? At the close over the SMA?

#5 zline long (formed by the blue momo bar after the swing low) when price retraced?

Seeing the chart with the entries helps.

[IgazI]

What's that?

woops.png (61.87 KiB) Viewed 1516 times

[aliassmith]

What's that?

woops.png

NFP?

I don't usually trade around that news.

[Yirbu]

Looks good
20R a month is a decent target, but don't let that get in the way of your trading. Having goals was actually a limiting factor for me when I trade. The trick is to set yourself up for success and let it play out.

TP was a suggestion because I wanted you to see you was short changing your profits. TP makes more sense from market conditions instead of an arbitrary number.

No disrespect to the other guys on here, but I would suggest you stay away from their content for awhile. If anything read Lem's thread where he posts deadhorse. You don't master a chainsaw by studying 2 man pull saws. Stay focused on 1 method, 1 pair and make it happen.

A big failure problem in this business is "the grass is always greener......" syndrome. There is also the "chase the new shiny thing" disease.

Indeed I can play with the ADR to get a better feel for a more flexible target because the sooner I can get larger R's the easier it will become.
And I guess you are right about reading and playing different methods. Reading that part of Lem's thread again can't hurt.

I like your examples of GU and EU. They do help!

[aliassmith]

GBPUSD M5
4th trade was a loss of 1/2R or about 7 pips.

approx. 20 +20 +10 -7 +20 +20

In an attempt to learn:

#1 is a zline trade entering when price came back, right? Any reason why you placed your stop there and not at the top of the previous candle?

#2 I don't know if that entry has a name but I guess it's a breakout of the low after that large pinbar.

#3 Rat entry. And reason why you took that one and not the one that happened 2 bars before?

#4 Another rat entry. But important question here: how did you decide to close that one with a 1/2 R? At the close over the SMA?

#5 zline long (formed by the blue momo bar after the swing low) when price retraced?

Seeing the chart with the entries helps.

1 zline (judgment through observation )
2 pinbar
3 not a rat
4 not a rat (not moving much, opposite momentum crossing sma)
5 zine
6 zline

[Jhx]

GBPUSD M5
4th trade was a loss of 1/2R or about 7 pips.

approx. 20 +20 +10 -7 +20 +20

In an attempt to learn:

#1 is a zline trade entering when price came back, right? Any reason why you placed your stop there and not at the top of the previous candle?

#2 I don't know if that entry has a name but I guess it's a breakout of the low after that large pinbar.

#3 Rat entry. And reason why you took that one and not the one that happened 2 bars before?

#4 Another rat entry. But important question here: how did you decide to close that one with a 1/2 R? At the close over the SMA?

#5 zline long (formed by the blue momo bar after the swing low) when price retraced?

Seeing the chart with the entries helps.

1 zline (judgment through observation )
2 pinbar
3 not a rat
4 not a rat (not moving much, opposite momentum crossing sma)
5 zine
6 zline

For the zline entries, do you enter with limit orders at that level? Could be market orders as well, just wondering if there's anything else you look for when price is reaching that level or if you just take it regardless.