TygerKrane's Pip-Pickpocketing

[TygerKrane]

Week 9; Ending: Feb, 26
-20.7%
Entries: 56
33.4% Targets: -2/8 ⇒ $1500


I pretty much had a fatal attraction to GJ this week, 95% of my trades were there. Basically, the week started with the +150 pip gap, and I became determined to trade off the weekly low to close it...as I was getting stopped out, I would decide to stop trading, but then every few hours later, I would see that the weekly extreme kept moving lower and lower, and so the reward of closing the gap at 16:1lev became higher and higher, and therefore more attractive for me to make further attempts.
Within all these trades off the week low, I did manage some entries that were really profitable at first, I didn't close them b/c I was totally blinded by my goals; this has forced me to once again, REALLY think about my attitude towards TP's & Re-Entries. Also, to think about how aggressively I tend to add-in... On a pair like GJ, I'll add-in too aggressively, not leaving enough room for possible pullbacks, and so I end up gaining nothing on trades that actually started out with a LOT of gained pips.

I finally realized (a bit too late) that the best way for me to trade GJ would be to start at 2:1lev instead of the 4:1lev that the calculations for my other pairs are done at.
My 4:1lev calculations are done with a 30pip SL in mind and the GJ cuts through that pretty easily. 2:1lev and 60pips would work much better and I'd still be able to gather pips quickly and proceed with doubling entries and such.
Three doubles would get me to 16:1lev, and since GJ max lev is @18:1, I would pretty much be maxed out.


Oh, and here is my currency lineup going forward: {I can't decide if I'll keep EU there or not, for whatever reason, it is a pair that I've always shied away from trading.}:


Anywayz, GJ will come out of my trading lineup for a while, I don't need any temptations to try to revenge trade it.

On the plus side, now that the week is over, I've finally been able to fully cool down, and I am ready to continue next week following my regular risk profile.

[MightyOne]

I don't believe in trading gaps, I don't even allow my charts to display gaps

[TygerKrane]

Week 10; Ending: Mar, 4
-3.3%
Entries: 28
33.4% Targets: -2/8 ⇒ $1500



So this week was good in that after coming off of my huge loss from last week, I was completely in control and relaxed, in regards to maintaining my discipline.

This week was also a week though, where I wished I was better at reversing my trading direction when my analysis/expectation/prediction seems not to be coming true. Previous Pivots that I wanted PA to reverse from, instead, continued +100 pips past.

I only tried to double on two entries this week, I was mostly focused on trying to take 15-25 pips if I was actively watching a trade; only if I was going to sleep or something would I let a trade run and hope to return to a decent move. Additionally, I was working on taking small profits on trades after they had been in profit for much more. ((For example, if a trade was in profit 30 pips, and then pulls back to 10 pips, I will usually choose to take a loss on the trade since I am hoping for PA to return to that larger amount. This isn't too serous a problem at my 4:1lev entry sizes, but once I start doubling, it can sabotage my progress quite a bit.))

Lastly, I'm also thinking of changing one of the timeframes that I watch in my 3-chart setup; I think I want to COMPLETELY AVOID looking at the H2 timeframe, and instead, only look at H8/M15/M3 . I want my larger timeframe focus to be more on the final results of the three major trading sessions and how they react to each other, instead of trying to actively make decisions off of what happens within each season. This is going to be SUPER-awkward for me, I can feel it already...

At least I won the battle with myself this week.

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“It definitely wouldn't be cool to lose my cool two times in a row...Actually, it wouldn't be cool to lose my cool EVER AGAIN " ____________________~ TygerKrane

"I only need to protect myself from myself, at this point..."--Amen--

[TygerKrane]

Some likeable entries:

EG Short

Entry


Exit



NU Long

Entry


Exit



NU Long

Entry


Exit



EG Long

Entry


Exit



NU Long

Entry


Exit



EG Long, +25pips

Entry


Exit


Afterwards, (great choice on deciding to exit, and, why I have to get myself to stop thinking that EVERY trade off of a week extreme is destined for greatness; ok OK it's not exactly off the week low but...)



EG Long, (one of the trades that I doubled on). This is immediately after the NFP.

Entry


1stDouble


Exit, (exited for 5pips after I turned down the chance to manually exit at +14pips)


Afterwards

[TygerKrane]

I don't believe in trading gaps, I don't even allow my charts to display gaps

I do remember you stating years back to treat gaps like MOMO, that was a cool light bulb moment

[TygerKrane]

Week 10; Ending: Mar, 11
-7%
Entries: 28
33.4% Targets: -2/8 ⇒ $1500



Getting used to trading using H8 as my largest timeframe rather than H2...my M15 chart shows me the last 10 hours of data, so that's the extent of detailed H8 info I get.

The loss of 7% wasn't b/c I strayed away from my weekly loss limit of 5%. I mistook my account balance by $20 when I made my calculations at the beginning of the week (I thought my account was smaller than it actually was.) So I traded responsibly and stopped when I was supposed to...it was only on Friday when I was doing my calculations that I realized what happened.

I actually was kind of surprised that I couldn't make a positive week this week. --Winning the battles, but Losing the war-- is what it feels like, really. The week seemed to start off well, and it's not like I was even feeling lost or anything. The thoughts really started to hit me though that unless I start doubling, my tit-for-tat Entry Lev trades were not going to get me anywhere.
Furthermore, it seemed like I was mostly doing a good job with having under 20pip SL's.
It really was a stinker that I missed the MASSIVE Short that happened on NU... I got stopped out by PA going 0.5pips past my SL (making the new day high.) I was at 1stDouble 8lev with a 2ndDouble entry setup 15 pips away from my Entry. 16-18% would've been nice.

I made the decision that even though I am going to trade this upcoming week in a regular, serious fashion, that after the week is done, win, lose, or draw I am going to put money back into my account, I will start at $2200 again.

I also put together my e-book and gave it read a through this weekend. It is a collection of all of my end-of-week reviews from the various times throughout the years that I was posting my weekly account balance. Looking to concentrate on any gems that I realized, or, recurring weaknesses that plagued me.

※※※※※※※※※※
“It definitely wouldn't be cool to lose my cool two times in a row...Actually, it wouldn't be cool to lose my cool EVER AGAIN " ____________________~ TygerKrane

"I only need to protect myself from myself, at this point..."--Amen--

[TygerKrane]

From my notes/'Questions to Provoke Thought' for this week:
{Dollar Index, H4 chart};
https://www.mataf.net/en/forex/tools/currency-index

[PTG]

All that thinking, way too difficult for me. Years ago, Dragon told me I was thinking too much. And he was absolutely and 100% right. After I found out the hard way, I know better now. I'm not thinking any longer. I just follow the money. What this means is: if the market turns around, I turn around. I don't predict, I don't think, I don't need statistics, I don't need no stinkin' indicators, I just put on a trade in the other direction. I may hedge, move s/l to b/e, or take profit, or not, depending on how much profit I've got at a certain point in time. I trade one instrument and one instrument only, I have decided today, in a further attempt to simplify things. I don't question my entries, they are mechanical. I merely make decisions about my exits, the question being if I have enough profit overall. Simple does it

Drain the banks, please.

[PTG]

Have a look at -say- an H1 chart. A clean one, no BS. It only hurts the eye and leads to nothing but question marks in your head. At a new high, put a sell stop under the low, stop above the high. At a new low, do the opposite. If not triggered, move your entries at the toth. Or use H4. Or daily. Take profit when you have enough. Hedge when you don't. Move s/l if you have enough but feel like giving the market another go to take your entry deeper into profit. There.

Drain the banks, please. I think I've found a new signature right there.

[TygerKrane]

Thanks, I appreciate it. I definitely have some room for simplification.
That quest for Holy Grail perfection always seems to creep in if I'm not careful.