The story of Yirbu

[aliassmith]

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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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!

I also use both.
If the SL is 3 to 5 it stays static.
If its 2 or less Im all in

[Goonslinger]

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

With the 1st trade (anchor) at what point did you decide to close the trade? Was it at the point you decided to start going short?

On the 5th trade (where you added to the short) did you get stopped out at BE? Just trying to understand what you mean by getting "killed". I can see that it would have come back to hit your SL but I'm assuming you moved your stop by that time(?)

[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

With the 1st trade (anchor) at what point did you decide to close the trade? Was it at the point you decided to start going short?

On the 5th trade (where you added to the short) did you get stopped out at BE? Just trying to understand what you mean by getting "killed". I can see that it would have come back to hit your SL but I'm assuming you moved your stop by that time(?)

I didn't close the first trade. I took about 30% off at X6 in that supply zone and left te rest alone. Eventually it ran into my SL at be where I started.
Maybe I should have taken profit before, maybe not but I'm going to try and let an anchor trade run after I decide it becomes an anchor trade.
The difficult part for me is when to decide it becomes an anchor trade.

On the 5th trade I took a full loss. (got killed)
Because everything looked good I was distracted. When I was back at my charts I was just in time to see my SL getting hit.
Afterwards I also closed the 4th short at x3

[Yirbu]

Just playing

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[Yirbu]

Wasn't planning to trade a lot today because there were other things to do.
That already wasn't a good start...you either do, or do not.
My first trades all went wrong because I was on the wrong side several times so my day started at 3-0 for the market.
Eventually I understood that the EU wasn't reversing during London but it was breaking out to the upside and I caught the ride up from that FTR area. This trade delivered just shy of 50pips.

I actually got one losing trade that's not on my chart. At the top of the day I went short but price came back and ran the highs to take me out. Afterwards I caught the downmove riding the deadhorse. This was a lucky trade because I wasn't around to manage it. Wiping out London AND Asia
Overall...I'm happy

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[Yirbu]

Price was just bouncing up and down during London but I did managed to get a nice profit (+4%).
I am beginning to see some progress.....
4 months ago I would have been completely destroyed trading today's price action.

[kiwiarian]

Price was just bouncing up and down during London but I did managed to get a nice profit (+4%).
I am beginning to see some progress.....
4 months ago I would have been completely destroyed trading today's price action.

Nice, 4% is really good, well done.
I was on a tiny account but have given up on that now and am now cycling through the FTMO 10K 2 week free trial getting used to that size which is a lot different. So far I am about .3% a day but once I get used to this account size I should be able to increase that with more practise.

[aliassmith]

Price was just bouncing up and down during London but I did managed to get a nice profit (+4%).
I am beginning to see some progress.....
4 months ago I would have been completely destroyed trading today's price action.

Nice, 4% is really good, well done.
I was on a tiny account but have given up on that now and am now cycling through the FTMO 10K 2 week free trial getting used to that size which is a lot different. So far I am about .3% a day but once I get used to this account size I should be able to increase that with more practise.

You will need at least .5% a day for FTMO and thatbis if you get to trade 20 days in the month.

[kiwiarian]

Price was just bouncing up and down during London but I did managed to get a nice profit (+4%).
I am beginning to see some progress.....
4 months ago I would have been completely destroyed trading today's price action.

Nice, 4% is really good, well done.
I was on a tiny account but have given up on that now and am now cycling through the FTMO 10K 2 week free trial getting used to that size which is a lot different. So far I am about .3% a day but once I get used to this account size I should be able to increase that with more practise.

You will need at least .5% a day for FTMO and thatbis if you get to trade 20 days in the month.

Yes I am a bit short. .75% would be a good target to make up for any missing days.
I think once I get up a bit more on the practise account, the 5%ers or MFF with their 8% might be the next step.

[aliassmith]

Nice, 4% is really good, well done.
I was on a tiny account but have given up on that now and am now cycling through the FTMO 10K 2 week free trial getting used to that size which is a lot different. So far I am about .3% a day but once I get used to this account size I should be able to increase that with more practise.

You will need at least .5% a day for FTMO and thatbis if you get to trade 20 days in the month.

Yes I am a bit short. .75% would be a good target to make up for any missing days.
I think once I get up a bit more on the practise account, the 5%ers or MFF with their 8% might be the next step.

If you go 5%er Be aware the drawdown is only 4 or 5%. Use conservative risk model.