Scalping: 3LZZ DSR

[Jhx]

This is an exercise / trying out something to keep winners run and committing to a longer term idea, to see if I can withstand a few stabs and then let it run.

I'm trading this. I can only enter within those two lines in a smaller timeframe. I take the first break and the other entries are done like every other of my entries (I'm doing that with candles closing above, below, and entering at the retest to keep them as small as I can). 4 fails (-4R), the last one is currently at +11R. It either gets there or I give it all back .

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[Jhx]

At the same time, I remember that someone said that stacking is worth much more than holding. I think it was MO, but I never truly 'got it' (I did understand how that worked when putting the profits as risk for the next trade by some folks who helped me here, but that required a higher winrate so I don't think it applies here).

Giving myself more entry opportunities (by splitting the R into different entries for the same idea) definitely does help the mind, and by zooming out I feel like I have more room for everything (entries and letting price run). Not that it has to be done this way necessarily. But maybe instead of holding for 30R there is a better way to avoid giving 13R back .

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And the EU trade. 1R away from hitting a 21R target. I know I said either it hit or give it back, but just closed it for 10R anyway.

There is definitely something to this.

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[Don_xyZ]

At the same time, I remember that someone said that stacking is worth much more than holding. I think it was MO, but I never truly 'got it' (I did understand how that worked when putting the profits as risk for the next trade by some folks who helped me here, but that required a higher winrate so I don't think it applies here).

Giving myself more entry opportunities (by splitting the R into different entries for the same idea) definitely does help the mind, and by zooming out I feel like I have more room for everything (entries and letting price run). Not that it has to be done this way necessarily. But maybe instead of holding for 30R there is a better way to avoid giving 13R back .

Hm.png

And the EU trade. 1R away from hitting a 21R target. I know I said either it hit or give it back, but just closed it for 10R anyway.

There is definitely something to this.

Almost.png

The corner stone of my trading routine is wiping everything (almost) off the session. If you've rad my entire thread you should've known this. The purpose of anchor trade is to take every pips offered during the session while the scalp is to take those short term trades. This is done so no pip is wasted. 20R to 100's of R is not foreign to me. Knowing when to switch mode from scalp to anchor is the game changer. I've seen days where a 20R trade turn to BE and then turn into 50R. I've also seen days when 20R turn into BE and then into loss on the next anchor trade attempt. The market is dynamic, that's why. Bias is crucial, market reading is the pillars. There are times when I go no SL because I'm feeling super confident or like they say "I'm in the zone" and this spooked a lot of trader here which is very much understandable due to our difference in risk tolerance. When I'm sure, I double down. This is how crucial bias is, more so for me. You see the drop in EU yesterday? I was in it since 9 o clock MT4 time all the way down, no SL. Why? Easy, see how the up move slowed down since Tokyo open on H1? That's a very strong pattern considering the market condition leading up to it. How many R? Can't count, no SL But it's a lot of profit % wise.

Gather stats, everything. Hit rate, SL, R potential, patterns, possible entries etc. Up your confidence and desensitize your fear. Trade like a robot. Logic and stats only. You can trade aggressively with tiny risk or you can go guns blazing. Or take the knowledge and be the leveled up you.

[Jhx]

Back to the FTMO thing. Only one trade for 0.77%. Missed the other one because I had to pick up the phone , so could've been more but oh well. Third day in a row that I say that I need to let small pullbacks run for longer; if I did that maybe the first trade would've been a loss but on the 2nd one I could've grabbed at least 2R (and all the others from yesterday and Monday).

Not to go to a specific R:R amount but for sure I need to grab at least a portion of the first leg. Instead of targetting the length of the stop, I should target a portion of the first leg, or something close to it.

Also this is how I've been following price, since the news but there were no trades for me. A couple of bounces anticipating the continuation would've worked really nice but that's not my trade so nothing there.

When price goes from a breakout into a range, I'll mark the range and wait for a candle to break with momentum closing over the range and then trade the continuation if it happens.

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Outside my session but still wasn't going anywhere.

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[Jhx]

Well today was tough for me. By the time I started trading there was a huge drop (news related I think), and 1 short that I might've taken. The shorts would've worked well.

But then it got into a smaller range, broke out, crossed the SMA, but I waited for the setup until the SMA actually turned, which was later.

Trade #1: The momentum up was good, enter on a small pullback, went up and down again, hit SL for 1R. Saw price spike back up off the previous high, and said "ok maybe now", went up, closed with not that much strength, went down for a larger pullback and decided to exit at BE if I had the chance because it wasn't behaving as I'd expect (the trade usually works in 1 or 2 candles, and more than that and it means it got into a range).

Trade #3: Price went back down to the SMA but jumped back up with good momentum, took the break, then saw that it went down almost to the SL, up to the entry, down again, and same as before, I decided to exit because by then it wasn't doing what I expected.

Trade #4: Again, bounced off the SMA with momentum, waited for a small pullback and entered at the break but it just turned.

Trade #5: Price had closed over with momentum outside of that pattern and all those wicks. Took the break after a small pullback, but went up and down again.

Then I took one non-sense trade that's not even worth posting that got me below the daily loss limit (this is also because I'm using 1% with the free trial, this can be easily fixed by doing 0.25% or something like that, I had started with 1% and wanted to keep it consistent).

If I look at the bright side of that, at least I reduced the loss size of 2 of those 6 trades (one BE and one -0.2).

It was then clear that I was drowning in the smaller price action, ranging a lot. But even when I took the longs, on trades 3 and 4 there was still room to go up, it wasn't like I was going long at the top of a range (which wasn't the case with #5).

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By then I was getting lost in the smaller price action and decided to look at the larger swings that were happening and another view came clearer. Don't know crap about patterns so I have no clue what that is but the swings were going smaller and smaller and if it's a pattern it has to break at some point. My bias was still long so I saw a pattern to go long at the end of that larger pattern and jumped in at a bounce (not my trade but allowed me to go with a small stop and grabbed 3R), saw price breaking and got 2R more at the break, and at the large momentum candle that broke the pattern I also allowed it to get to 2R.

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There was still 30 minutes til the end of my session but at that point I was toast, felt like I fought tooth and nail today. But I think I learned some things. And somehow ended up +2%.
There still was another bounce and another break that would've worked just after that.

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This is the short move 1 hour before the start.

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[Yirbu]

Well today was tough for me. By the time I started trading there was a huge drop (news related I think), and 1 short that I might've taken. The shorts would've worked well.

But then it got into a smaller range, broke out, crossed the SMA, but I waited for the setup until the SMA actually turned, which was later.

Trade #1: The momentum up was good, enter on a small pullback, went up and down again, hit SL for 1R. Saw price spike back up off the previous high, and said "ok maybe now", went up, closed with not that much strength, went down for a larger pullback and decided to exit at BE if I had the chance because it wasn't behaving as I'd expect (the trade usually works in 1 or 2 candles, and more than that and it means it got into a range).

Trade #3: Price went back down to the SMA but jumped back up with good momentum, took the break, then saw that it went down almost to the SL, up to the entry, down again, and same as before, I decided to exit because by then it wasn't doing what I expected.

Trade #4: Again, bounced off the SMA with momentum, waited for a small pullback and entered at the break but it just turned.

Trade #5: Price had closed over with momentum outside of that pattern and all those wicks. Took the break after a small pullback, but went up and down again.

Then I took one non-sense trade that's not even worth posting that got me below the daily loss limit (this is also because I'm using 1% with the free trial, this can be easily fixed by doing 0.25% or something like that, I had started with 1% and wanted to keep it consistent).

If I look at the bright side of that, at least I reduced the loss size of 2 of those 6 trades (one BE and one -0.2).

It was then clear that I was drowning in the smaller price action, ranging a lot. But even when I took the longs, on trades 3 and 4 there was still room to go up, it wasn't like I was going long at the top of a range (which wasn't the case with #5).

GU_08042022_1.png

By then I was getting lost in the smaller price action and decided to look at the larger swings that were happening and another view came clearer. Don't know crap about patterns so I have no clue what that is but the swings were going smaller and smaller and if it's a pattern it has to break at some point. My bias was still long so I saw a pattern to go long at the end of that larger pattern and jumped in at a bounce (not my trade but allowed me to go with a small stop and grabbed 3R), saw price breaking and got 2R more at the break, and at the large momentum candle that broke the pattern I also allowed it to get to 2R.

GU_08042022_2.png

There was still 30 minutes til the end of my session but at that point I was toast, felt like I fought tooth and nail today. But I think I learned some things. And somehow ended up +2%.
There still was another bounce and another break that would've worked just after that.

GU_08042022_3.png

This is the short move 1 hour before the start.
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I hate trading after a huge drop like that.
Price can stay in a tight range for the rest of the day or it can bounce back.
Either way for me chances are I get chopped.

Good to hear you got out with 2%!

[Jhx]

And it kept going.

The length of the up swings were very similar too.

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[Don_xyZ]

Well today was tough for me. By the time I started trading there was a huge drop (news related I think), and 1 short that I might've taken. The shorts would've worked well.

But then it got into a smaller range, broke out, crossed the SMA, but I waited for the setup until the SMA actually turned, which was later.

Trade #1: The momentum up was good, enter on a small pullback, went up and down again, hit SL for 1R. Saw price spike back up off the previous high, and said "ok maybe now", went up, closed with not that much strength, went down for a larger pullback and decided to exit at BE if I had the chance because it wasn't behaving as I'd expect (the trade usually works in 1 or 2 candles, and more than that and it means it got into a range).

Trade #3: Price went back down to the SMA but jumped back up with good momentum, took the break, then saw that it went down almost to the SL, up to the entry, down again, and same as before, I decided to exit because by then it wasn't doing what I expected.

Trade #4: Again, bounced off the SMA with momentum, waited for a small pullback and entered at the break but it just turned.

Trade #5: Price had closed over with momentum outside of that pattern and all those wicks. Took the break after a small pullback, but went up and down again.

Then I took one non-sense trade that's not even worth posting that got me below the daily loss limit (this is also because I'm using 1% with the free trial, this can be easily fixed by doing 0.25% or something like that, I had started with 1% and wanted to keep it consistent).

If I look at the bright side of that, at least I reduced the loss size of 2 of those 6 trades (one BE and one -0.2).

It was then clear that I was drowning in the smaller price action, ranging a lot. But even when I took the longs, on trades 3 and 4 there was still room to go up, it wasn't like I was going long at the top of a range (which wasn't the case with #5).

GU_08042022_1.png

By then I was getting lost in the smaller price action and decided to look at the larger swings that were happening and another view came clearer. Don't know crap about patterns so I have no clue what that is but the swings were going smaller and smaller and if it's a pattern it has to break at some point. My bias was still long so I saw a pattern to go long at the end of that larger pattern and jumped in at a bounce (not my trade but allowed me to go with a small stop and grabbed 3R), saw price breaking and got 2R more at the break, and at the large momentum candle that broke the pattern I also allowed it to get to 2R.

GU_08042022_2.png

There was still 30 minutes til the end of my session but at that point I was toast, felt like I fought tooth and nail today. But I think I learned some things. And somehow ended up +2%.
There still was another bounce and another break that would've worked just after that.

GU_08042022_3.png

This is the short move 1 hour before the start.
GU_08042022_0.png

If you get out with a minimum loss or even a profit when other traders suffer losses then you know you're already on the right track. Stick to 1 pair, 1 method, and 1 session until you're fantastic at doing it. Results usually come faster and better.

[Don_xyZ]

And it kept going.

The length of the up swings were very similar too.

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It is a simple Symmetrical Triangle pattern. If you want a safer play then go with the breakout but if you're up to take some risk then you go with the opposite trend line that form the pattern. If you want to sell you go with the upper TL vice versa.

[Jhx]

--- Edit double post