The story of Yirbu

[Don_xyZ]

Today I did a really nice trade but I did feel like I wasn't in sync with the market.
The result was good but I had no patience and constantly wanted to close my position.

Below is my thought process; it started when price peeped just above the asian sessions high.
In the end I was able to take 81 pips (And before I took some additional deadhorse pips)
Nice, because I was able to take more pips as the daily range at that time.

I am increasingly able to understand what is going on and catch runs like this.
Goal is to be able to do this all the time and not giving it back on another day.

Went for a long walk on probably one of the last sunny days of the year.

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Everyone has itchy fingers problem at some point but the good thing is, you numb the feeling over the course of time.

Good catch!

[Yirbu]

Missed the boat today.

As price broke the high of the Asian session it made an effort to build a double top.
I got in anticipating the pattern to be completed but unfortunately it didn't and I got killed.
Switched to the long side and exited at the second black arrow because I thought price was reacting to a supply zone (it really is there) and I figured to take the 9-ish pips so it could cover my previous loss and get some on top.

Obviously it was an Aaarghhhh moment in hindsight but that's ok.
I did see an entry (it wasn't the greatest entry but hey), it failed and I recovered.

Just got out too early.

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[Yirbu]

This morning was fun but price was moving sooooo slow I even did some groceries in the mean time.
Funny was that I did a deadhorse trade and a Don inspired trade and the entry points were just about 1 pip difference.

For the deadhorse price went up during Frankfurt and came back after London opened.
When price tapped and left the blue zone I went long.
I held the trade for quite a long time because I was also holding my second position longer.
As it worked out today I realize it's not something I need to get used to as a good exit for the deadhorse would have been at the high of the swing.

My other trade was preceded by three loosing trades of which (in hindsight) I should have only taken the third. Certainly not the funny second trade and the 1st trade had no good base. There was no good supply area. Turned out ok with the 4th trade but I already lost +/- 11 pips before making 33. Eventually price was just not moving so I took my profit.

Happy

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[aliassmith]

This morning was fun but price was moving sooooo slow I even did some groceries in the mean time.
Funny was that I did a deadhorse trade and a Don inspired trade and the entry points were just about 1 pip difference.

For the deadhorse price went up during Frankfurt and came back after London opened.
When price tapped and left the blue zone I went long.
I held the trade for quite a long time because I was also holding my second position longer.
As it worked out today I realize it's not something I need to get used to as a good exit for the deadhorse would have been at the high of the swing.

My other trade was preceded by three loosing trades of which (in hindsight) I should have only taken the third. Certainly not the funny second trade and the 1st trade had no good base. There was no good supply area. Turned out ok with the 4th trade but I already lost +/- 11 pips before making 33. Eventually price was just not moving so I took my profit.

Happy


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Yes a good exit is between the x8 and x10. Nice job.

[Yirbu]

Today it started slow and I nearly gave up for the morning.
Eventually price choose a direction.

2nd trade just came too fast back up so I got killed. 4th trade...hmmmm, 5th trade was a bit risky but I got out at be.
6th trade I knew I was a bit late trading that H&S, so I added when price went my way.

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[Yirbu]

Today is Friday, last trading day of the week.
This week I think was the first time ever that I felt I was in control each and every day.
I knew what I was doing and felt confident with it. Also confident the outcome would be ok.
It happened to be positive (not that I need wheel barrows to transport my profits) so that's good.

Friday morning 10:30AM and I have banked +30 pips according to plan.
(About +7 deadhorse and +29 from the method without a name)

Missed the bus going back up....(would have been a nice anchor trade). Funny I didn't recognize the setup in the long version because I think I have only traded it down. Will not happen again, ha, ha...but it doesn't mind missing a good setup if your day/week was already good.

The sun is shining after 48hrs of non-stop rain so I know what I'm going to do...

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[Yirbu]

Wasn't trading too much this week.
Yesterday I traded but because my losses kept piling up I had to stop.

Today is different and these were early Asian trades as I don't expect the markets to be moving a lot because of the American holidays.
First one was a bit tricky as I was trading down into that big momo candle.

With the second trade I was just playing on my phone and thought that was a nice setup.
Price broke the low of the Asian session and came back up. In hindsight I should have reversed the trade as it printed some batman ears on the m5 after taking out those highs.

For all the American friends over here; Happy Thanksgiving.
Enjoy your holiday!

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[Yirbu]

That was an intense trading morning for me.
Got out with a good profit on EU but I f** it up on some Xau and US500 experiments leaving me with much less profit.

What I forgot to mention on the chart is that after I took partials on the first trade I kept it to the bitter end when price ran into my SL at b.e. I think I should have closed the trade when price made a lower low. The last short was a m5 deadhorse trade...after an engulfing down candle printed price ran back up and when it fell down again I entered and took +/-28pips and closed the whole trade just shy of yesterday low.

Today I tried to keep my position size in check because quite often it's not the size I would like it to be.
My position size fluctuates and sometimes I am in a nice trade and my size turns out to be relatively small compared to my other trades that day. Now my profits don't add up as they should do. Unfortunately the reverse also happens with losses.
I don't really know how to solve this and my three possible solutions are;
* Get better at position sizing
* Use a fixed size
* Just don't care and accept it, it will even out
Lately I have tried to get better at it but it's not that easy at m1 and I can see how it could improve my trades.

Hope you guys have some tips on this.

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[Don_xyZ]

That was an intense trading morning for me.
Got out with a good profit on EU but I f** it up on some Xau and US500 experiments leaving me with much less profit.

What I forgot to mention on the chart is that after I took partials on the first trade I kept it to the bitter end when price ran into my SL at b.e. I think I should have closed the trade when price made a lower low. The last short was a m5 deadhorse trade...after an engulfing down candle printed price ran back up and when it fell down again I entered and took +/-28pips and closed the whole trade just shy of yesterday low.

Today I tried to keep my position size in check because quite often it's not the size I would like it to be.
My position size fluctuates and sometimes I am in a nice trade and my size turns out to be relatively small compared to my other trades that day. Now my profits don't add up as they should do. Unfortunately the reverse also happens with losses.
I don't really know how to solve this and my three possible solutions are;
* Get better at position sizing
* Use a fixed size
* Just don't care and accept it, it will even out
Lately I have tried to get better at it but it's not that easy at m1 and I can see how it could improve my trades.

Hope you guys have some tips on this.

221125 - EURUSDM1.jpg

There are times when you must use variable SL as dictated by the candle and there are also times when you can use fixed SL. If you pay attention to my past couple of charts you can see I've been using fixed SL. My latest chart is even using 1 pip SL. Just as you must be agile in your trade, you must also do the same for the rest of the areas of your trading plan. When to switch when to revert back? This must be in your WIL.

Cheers!

[Yirbu]

That was an intense trading morning for me.
Got out with a good profit on EU but I f** it up on some Xau and US500 experiments leaving me with much less profit.

What I forgot to mention on the chart is that after I took partials on the first trade I kept it to the bitter end when price ran into my SL at b.e. I think I should have closed the trade when price made a lower low. The last short was a m5 deadhorse trade...after an engulfing down candle printed price ran back up and when it fell down again I entered and took +/-28pips and closed the whole trade just shy of yesterday low.

Today I tried to keep my position size in check because quite often it's not the size I would like it to be.
My position size fluctuates and sometimes I am in a nice trade and my size turns out to be relatively small compared to my other trades that day. Now my profits don't add up as they should do. Unfortunately the reverse also happens with losses.
I don't really know how to solve this and my three possible solutions are;
* Get better at position sizing
* Use a fixed size
* Just don't care and accept it, it will even out
Lately I have tried to get better at it but it's not that easy at m1 and I can see how it could improve my trades.

Hope you guys have some tips on this.

221125 - EURUSDM1.jpg

There are times when you must use variable SL as dictated by the candle and there are also times when you can use fixed SL. If you pay attention to my past couple of charts you can see I've been using fixed SL. My latest chart is even using 1 pip SL. Just as you must be agile in your trade, you must also do the same for the rest of the areas of your trading plan. When to switch when to revert back? This must be in your WIL.

Cheers!

Yes, I've seen you doing it and I have tried using a fixed and a variable SL just do not know when to use the one or the other and why.
But I can work with your answer, it just needs to sink in...Ithx!