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berza wrote:Hi guys,
Here is a mql5 version for the biascandles indie.
Can you check and see if its correct?
Really interesting thread and the concept of rich uncles, eye opener.
First need to practice and practice to get the main concept down. Thanks!
Needed to zip the indicator otherwise it was not allowed to upload.
EURUSDM15.png
PMBiasCandles.zipdojirock wrote:aliassmith wrote:dojirock wrote:
For me and from observations over the years of how I interpret Aliassmith's trading style, while he is scalping, if you move your stop loss beyond the extreme, your just increasing your risk and dissolving your R:R. When your right your right, when your wrong your wrong. For myself, I never trade the extreme candle, if I ever did, it would only be a guess and I wouldn't be able to justify the trade. While scalping tick charts, minute charts, or even second charts, yes they may fall within the 30 min, hourly, 4 hour extreme etc. but never on my entry chart.
Just my 2 cents.
Hey man 2 cents isn't going to get you far with this inflation. I expect you to get back here and give a full 5 cents.
To your points.
Very true. Good thing my accuracy is high.
That is why I am looking at SL reduction
Even by cutting1 pip from every SL overall it is a big difference.
Need to continually collect data and make subtle change.
Similar to being able to take just 1 more pip on avg. per trade.
I am actually moving away from sub 1R and get to at least 1.5R. I mean that more from an average. It shows in my overall profitability.
I am always studing to see what I can improve and train my psychology to execute. Not always easy.
Mathematically think about reducing your SL by 10% and increasing your TP by 10%. Then increase your lot size by enough that you risk the same amount of money as before. Of course this takes better entries and exits.
When you are wrong you lose the same. When you are right you make 20% more gains.
.03 more cents,
One challenge for me, that I have been tackling over the past year, is trying to equalize my focus on my trade (success rate) vs my (Risk vs Reward) vs my (profit ratio (max win $ vs max loss$).
In March, my success rate was 88.9%, Risking 1% to make 1.25%, and a profit ratio of 1.3. 15 days traded, averaging 9 trades per day, profit of $8,300
Any of you guys that know me, I have always been laser focused on my success rate.
In April, I really challenged my self for the 30 days, to increase my focus on my R&R only and be willing to sacrifice some of my success rate. I really had doubts of what the out come would be, its just the way I am wired.
April, I concentrated on sticking to the 30 day plan. Even traded some assets that I haven't traded in years (forex, and gold) I am a big fan of the indices. April's results: Traded 13 days, down 2 days from March. I was ok with that. Averaged 6.5 positions per day, Ok so far so good. Four days into the month, my success rate was 87.2% (was I really willing to let this go?) I started defining my stop loss realizing by taking a few more hits on my success rate that I could tighten up the stop loss. My targets are targets at this point, not changing anything in the plan yet there. I ended the month with a success rate of 80% (initially this really bothered me. To me its like breaking the holy grail of my historical trading plan). My risk reward increased from 1:1.25 to 1:1.86 and my profit ratio went from a 1.3 to a 2.85 (over double!, which really for the 1st time got me to really take notice) Profit of $11,870.
I'm still letting this soak in a bit. Sacrificing some of my successful trade percentage to trade less, lose less (kind of an oxymoron losing more trades), yet grossing more profit. Mind blown.....
I am have been very resistant to making changes to my trading plan for about 6 years now. Why change what isn't broke? I guess I am realizing my trading plan isn't broke, but is sure may have some hair line cracks that I can fix.
-doji
aliassmith wrote:Mr. Hyde wrote:aliassmith wrote:
Whatever he is doing 10% a month on $400k is $36k from FTMO. I think he would like that.
Or he could get 3 of these bad boys. 10% of 6 million is just stupid. Over 7 million a year
Yes, there are several options available these days. Thats why I say it's easier than ever to be a professional trader.
I just recommend FTMO because they have a proven track record of paying out. The goal is not to really build a lot of prop account money as it is to build your own account up quickly with this "risk free" capital. So now you have your own big money account and put it to work some how and you also bang out with that prop money. You won't be dependent on the prop firm incase something happens.
Don_xyZ wrote:dojirock wrote:aliassmith wrote:
Hey man 2 cents isn't going to get you far with this inflation. I expect you to get back here and give a full 5 cents.
To your points.
Very true. Good thing my accuracy is high.
That is why I am looking at SL reduction
Even by cutting1 pip from every SL overall it is a big difference.
Need to continually collect data and make subtle change.
Similar to being able to take just 1 more pip on avg. per trade.
I am actually moving away from sub 1R and get to at least 1.5R. I mean that more from an average. It shows in my overall profitability.
I am always studing to see what I can improve and train my psychology to execute. Not always easy.
Mathematically think about reducing your SL by 10% and increasing your TP by 10%. Then increase your lot size by enough that you risk the same amount of money as before. Of course this takes better entries and exits.
When you are wrong you lose the same. When you are right you make 20% more gains.
.03 more cents,
One challenge for me, that I have been tackling over the past year, is trying to equalize my focus on my trade (success rate) vs my (Risk vs Reward) vs my (profit ratio (max win $ vs max loss$).
In March, my success rate was 88.9%, Risking 1% to make 1.25%, and a profit ratio of 1.3. 15 days traded, averaging 9 trades per day, profit of $8,300
Any of you guys that know me, I have always been laser focused on my success rate.
In April, I really challenged my self for the 30 days, to increase my focus on my R&R only and be willing to sacrifice some of my success rate. I really had doubts of what the out come would be, its just the way I am wired.
April, I concentrated on sticking to the 30 day plan. Even traded some assets that I haven't traded in years (forex, and gold) I am a big fan of the indices. April's results: Traded 13 days, down 2 days from March. I was ok with that. Averaged 6.5 positions per day, Ok so far so good. Four days into the month, my success rate was 87.2% (was I really willing to let this go?) I started defining my stop loss realizing by taking a few more hits on my success rate that I could tighten up the stop loss. My targets are targets at this point, not changing anything in the plan yet there. I ended the month with a success rate of 80% (initially this really bothered me. To me its like breaking the holy grail of my historical trading plan). My risk reward increased from 1:1.25 to 1:1.86 and my profit ratio went from a 1.3 to a 2.85 (over double!, which really for the 1st time got me to really take notice) Profit of $11,870.
I'm still letting this soak in a bit. Sacrificing some of my successful trade percentage to trade less, lose less (kind of an oxymoron losing more trades), yet grossing more profit. Mind blown.....
I am have been very resistant to making changes to my trading plan for about 6 years now. Why change what isn't broke? I guess I am realizing my trading plan isn't broke, but is sure may have some hair line cracks that I can fix.
-doji
You are a perfectionist. I get it, because I’m one.
But for me, I never fall in love with a particular strategy because I came to the market to make money. That has been my goal and that’s the only thing that will never change when it comes to the trading business. So whenever I learn something that is good I try to incorporate it into my existing ways to trade and I keep a journal of each changes to keep track or even revert to when things aren’t going well.
There are different stats in a trading performance and hit rate is just one of them. For me, I focus my attention on % gain and everything else can be changed (to a certain point) if it means I can have additional bump on % profit.
What baffles me though, why the heck do traders with a supposedly high win rate is afraid to risk big? I mean the goal of having a high win rate is for you to be sure that when you enter a trade you will come out with profit, right? So, if you a strong stats to back you up then what are you afraid of? It’s pretty hillarious if you think about it. From this, I think what you really need is not changing your trading strategy. You need to strengthen your mental fortitude. Seriously, dude. Learn to be bold, learn to be brave, and your newly stronger results will follow. Trust me (or don’t).
aliassmith wrote:Don_xyZ wrote:dojirock wrote:
.03 more cents,
One challenge for me, that I have been tackling over the past year, is trying to equalize my focus on my trade (success rate) vs my (Risk vs Reward) vs my (profit ratio (max win $ vs max loss$).
In March, my success rate was 88.9%, Risking 1% to make 1.25%, and a profit ratio of 1.3. 15 days traded, averaging 9 trades per day, profit of $8,300
Any of you guys that know me, I have always been laser focused on my success rate.
In April, I really challenged my self for the 30 days, to increase my focus on my R&R only and be willing to sacrifice some of my success rate. I really had doubts of what the out come would be, its just the way I am wired.
April, I concentrated on sticking to the 30 day plan. Even traded some assets that I haven't traded in years (forex, and gold) I am a big fan of the indices. April's results: Traded 13 days, down 2 days from March. I was ok with that. Averaged 6.5 positions per day, Ok so far so good. Four days into the month, my success rate was 87.2% (was I really willing to let this go?) I started defining my stop loss realizing by taking a few more hits on my success rate that I could tighten up the stop loss. My targets are targets at this point, not changing anything in the plan yet there. I ended the month with a success rate of 80% (initially this really bothered me. To me its like breaking the holy grail of my historical trading plan). My risk reward increased from 1:1.25 to 1:1.86 and my profit ratio went from a 1.3 to a 2.85 (over double!, which really for the 1st time got me to really take notice) Profit of $11,870.
I'm still letting this soak in a bit. Sacrificing some of my successful trade percentage to trade less, lose less (kind of an oxymoron losing more trades), yet grossing more profit. Mind blown.....
I am have been very resistant to making changes to my trading plan for about 6 years now. Why change what isn't broke? I guess I am realizing my trading plan isn't broke, but is sure may have some hair line cracks that I can fix.
-doji
You are a perfectionist. I get it, because I’m one.
But for me, I never fall in love with a particular strategy because I came to the market to make money. That has been my goal and that’s the only thing that will never change when it comes to the trading business. So whenever I learn something that is good I try to incorporate it into my existing ways to trade and I keep a journal of each changes to keep track or even revert to when things aren’t going well.
There are different stats in a trading performance and hit rate is just one of them. For me, I focus my attention on % gain and everything else can be changed (to a certain point) if it means I can have additional bump on % profit.
What baffles me though, why the heck do traders with a supposedly high win rate is afraid to risk big? I mean the goal of having a high win rate is for you to be sure that when you enter a trade you will come out with profit, right? So, if you a strong stats to back you up then what are you afraid of? It’s pretty hillarious if you think about it. From this, I think what you really need is not changing your trading strategy. You need to strengthen your mental fortitude. Seriously, dude. Learn to be bold, learn to be brave, and your newly stronger results will follow. Trust me (or don’t).
I don't risk 10% per trade because I know I can lose 6 trades in a row. Im not a fan of losing half of my account. I will however use various forms of risk gearing.
My strategy is a base strategy with variations. Although I show that DeadHorse often here I have several ways I observe the price action and triggers. I will use S/D along with structure. Plus Im always studying.
Don_xyZ wrote:aliassmith wrote:Don_xyZ wrote:
You are a perfectionist. I get it, because I’m one.
But for me, I never fall in love with a particular strategy because I came to the market to make money. That has been my goal and that’s the only thing that will never change when it comes to the trading business. So whenever I learn something that is good I try to incorporate it into my existing ways to trade and I keep a journal of each changes to keep track or even revert to when things aren’t going well.
There are different stats in a trading performance and hit rate is just one of them. For me, I focus my attention on % gain and everything else can be changed (to a certain point) if it means I can have additional bump on % profit.
What baffles me though, why the heck do traders with a supposedly high win rate is afraid to risk big? I mean the goal of having a high win rate is for you to be sure that when you enter a trade you will come out with profit, right? So, if you a strong stats to back you up then what are you afraid of? It’s pretty hillarious if you think about it. From this, I think what you really need is not changing your trading strategy. You need to strengthen your mental fortitude. Seriously, dude. Learn to be bold, learn to be brave, and your newly stronger results will follow. Trust me (or don’t).
I don't risk 10% per trade because I know I can lose 6 trades in a row. Im not a fan of losing half of my account. I will however use various forms of risk gearing.
My strategy is a base strategy with variations. Although I show that DeadHorse often here I have several ways I observe the price action and triggers. I will use S/D along with structure. Plus Im always studying.
So sorry your post was also quoted. It’s directed toward dojirock who has a higher hit rate than yours.
I don’t know how you treat your trading account overall but if you lose 6 times in a row then you are obviously overtrading or forcing your trades. I’ve lost more than that in a day (not taking 10% per trade though) but never that many consecutively. Maybe it has something to do with your sub 1 R trades. Long losing streak is bad, mentally.
aliassmith wrote:Don_xyZ wrote:aliassmith wrote:
I don't risk 10% per trade because I know I can lose 6 trades in a row. Im not a fan of losing half of my account. I will however use various forms of risk gearing.
My strategy is a base strategy with variations. Although I show that DeadHorse often here I have several ways I observe the price action and triggers. I will use S/D along with structure. Plus Im always studying.
So sorry your post was also quoted. It’s directed toward dojirock who has a higher hit rate than yours.
I don’t know how you treat your trading account overall but if you lose 6 times in a row then you are obviously overtrading or forcing your trades. I’ve lost more than that in a day (not taking 10% per trade though) but never that many consecutively. Maybe it has something to do with your sub 1 R trades. Long losing streak is bad, mentally.
Losing 6 times in a row only has happen when I didn't follow my plan(s). Its very rare but I can also rip off 20 wins in a row. I'm working on getting more trades above 1R using smaller SL amd bigger size.
aliassmith wrote:Don_xyZ wrote:dojirock wrote:
.03 more cents,
One challenge for me, that I have been tackling over the past year, is trying to equalize my focus on my trade (success rate) vs my (Risk vs Reward) vs my (profit ratio (max win $ vs max loss$).
In March, my success rate was 88.9%, Risking 1% to make 1.25%, and a profit ratio of 1.3. 15 days traded, averaging 9 trades per day, profit of $8,300
Any of you guys that know me, I have always been laser focused on my success rate.
In April, I really challenged my self for the 30 days, to increase my focus on my R&R only and be willing to sacrifice some of my success rate. I really had doubts of what the out come would be, its just the way I am wired.
April, I concentrated on sticking to the 30 day plan. Even traded some assets that I haven't traded in years (forex, and gold) I am a big fan of the indices. April's results: Traded 13 days, down 2 days from March. I was ok with that. Averaged 6.5 positions per day, Ok so far so good. Four days into the month, my success rate was 87.2% (was I really willing to let this go?) I started defining my stop loss realizing by taking a few more hits on my success rate that I could tighten up the stop loss. My targets are targets at this point, not changing anything in the plan yet there. I ended the month with a success rate of 80% (initially this really bothered me. To me its like breaking the holy grail of my historical trading plan). My risk reward increased from 1:1.25 to 1:1.86 and my profit ratio went from a 1.3 to a 2.85 (over double!, which really for the 1st time got me to really take notice) Profit of $11,870.
I'm still letting this soak in a bit. Sacrificing some of my successful trade percentage to trade less, lose less (kind of an oxymoron losing more trades), yet grossing more profit. Mind blown.....
I am have been very resistant to making changes to my trading plan for about 6 years now. Why change what isn't broke? I guess I am realizing my trading plan isn't broke, but is sure may have some hair line cracks that I can fix.
-doji
You are a perfectionist. I get it, because I’m one.
But for me, I never fall in love with a particular strategy because I came to the market to make money. That has been my goal and that’s the only thing that will never change when it comes to the trading business. So whenever I learn something that is good I try to incorporate it into my existing ways to trade and I keep a journal of each changes to keep track or even revert to when things aren’t going well.
There are different stats in a trading performance and hit rate is just one of them. For me, I focus my attention on % gain and everything else can be changed (to a certain point) if it means I can have additional bump on % profit.
What baffles me though, why the heck do traders with a supposedly high win rate is afraid to risk big? I mean the goal of having a high win rate is for you to be sure that when you enter a trade you will come out with profit, right? So, if you a strong stats to back you up then what are you afraid of? It’s pretty hillarious if you think about it. From this, I think what you really need is not changing your trading strategy. You need to strengthen your mental fortitude. Seriously, dude. Learn to be bold, learn to be brave, and your newly stronger results will follow. Trust me (or don’t).
I don't risk 10% per trade because I know I can lose 6 trades in a row. Im not a fan of losing half of my account. I will however use various forms of risk gearing.
My strategy is a base strategy with variations. Although I show that DeadHorse often here I have several ways I observe the price action and triggers. I will use S/D along with structure. Plus Im always studying.
Mr. Hyde wrote:aliassmith wrote:Don_xyZ wrote:
You are a perfectionist. I get it, because I’m one.
But for me, I never fall in love with a particular strategy because I came to the market to make money. That has been my goal and that’s the only thing that will never change when it comes to the trading business. So whenever I learn something that is good I try to incorporate it into my existing ways to trade and I keep a journal of each changes to keep track or even revert to when things aren’t going well.
There are different stats in a trading performance and hit rate is just one of them. For me, I focus my attention on % gain and everything else can be changed (to a certain point) if it means I can have additional bump on % profit.
What baffles me though, why the heck do traders with a supposedly high win rate is afraid to risk big? I mean the goal of having a high win rate is for you to be sure that when you enter a trade you will come out with profit, right? So, if you a strong stats to back you up then what are you afraid of? It’s pretty hillarious if you think about it. From this, I think what you really need is not changing your trading strategy. You need to strengthen your mental fortitude. Seriously, dude. Learn to be bold, learn to be brave, and your newly stronger results will follow. Trust me (or don’t).
I don't risk 10% per trade because I know I can lose 6 trades in a row. Im not a fan of losing half of my account. I will however use various forms of risk gearing.
My strategy is a base strategy with variations. Although I show that DeadHorse often here I have several ways I observe the price action and triggers. I will use S/D along with structure. Plus Im always studying.
Question for you guys. Asmith and Don, I've seen you mention S/D in your trading. Doji you talk about momo breaking momo. Besides from Sam S. Is there anyone else or any website that has helped your knowledge in S/D trading? ICT claims he isn't S/D trading, but it definitely has some characteristics. Just wondering. Thinking about putting together my own "odds enhancer" type list. Was never a huge fan of the one Sam released. And now that his dumbass got sued or whatever, not really anyone teaches it. Thanks guys
Don_xyZ wrote:aliassmith wrote:Don_xyZ wrote:
So sorry your post was also quoted. It’s directed toward dojirock who has a higher hit rate than yours.
I don’t know how you treat your trading account overall but if you lose 6 times in a row then you are obviously overtrading or forcing your trades. I’ve lost more than that in a day (not taking 10% per trade though) but never that many consecutively. Maybe it has something to do with your sub 1 R trades. Long losing streak is bad, mentally.
Losing 6 times in a row only has happen when I didn't follow my plan(s). Its very rare but I can also rip off 20 wins in a row. I'm working on getting more trades above 1R using smaller SL amd bigger size.
20? Tbh, even at my best, that is something I could never pull off.
Yes, you did the math already in your previous post. The way you convey your thought led me to assume that you are talking about increasing your account size when you say “bigger size” (because clearly, you don’t like the idea of increasing risk). Is that correct? You have rich uncles anyway, right?
