How to be a MOnster

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
Mira
rank: 1000+ posts
rank: 1000+ posts
Posts: 1556
Joined: Thu Nov 10, 2016 8:37 pm
Reputation: 1520
Gender: Male

Re: How to be a MOnster

Postby Mira » Thu Jun 06, 2019 5:10 pm

HORRIBLE DAY.
Red red red.

I’m going to post the charts in the evening, not proud of me today :cry:
__________ THE :smt096 IS A LIE__________

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

paweldobkowski
rank: 1000+ posts
rank: 1000+ posts
Posts: 1153
Joined: Mon Dec 27, 2010 12:12 am
Reputation: 255
Gender: Male

Re: How to be a MOnster

Postby paweldobkowski » Thu Jun 06, 2019 6:15 pm

Mira wrote:HORRIBLE DAY.
Red red red.

I’m going to post the charts in the evening, not proud of me today :cry:


keep your head up man!
this is the part of the process
im gluten free intolerant

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1987
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 430
Gender: Male

Re: How to be a MOnster

Postby aliassmith » Thu Jun 06, 2019 8:27 pm

Mira wrote:HORRIBLE DAY.
Red red red.

I’m going to post the charts in the evening, not proud of me today :cry:


I'm not sure how you are trading but trading the small timeframes on forex can be a challenge because the ranges have got tight.
you might get away with a 5 pip stop loss with good entries and 3 to 9 TP.
It can be done and I would use as small of a size as you can to learn.
Blowing up your account because you are over leveraged based on your skill is not a good path.
Attachments
AUDJPYM15.png
AUDJPYM15.png (47.06 KiB) Viewed 170 times
Trade Your Way as Long as It Makes Money!

User avatar
Mira
rank: 1000+ posts
rank: 1000+ posts
Posts: 1556
Joined: Thu Nov 10, 2016 8:37 pm
Reputation: 1520
Gender: Male

Re: How to be a MOnster

Postby Mira » Fri Jun 07, 2019 8:23 am

Thanks guys!

No electric power yesterday, sorry.
However I analysed the charts and I saw my faults: I holded more than the target and price closed against me blowing my profits.
Then I traded the reversal but reversals are tricky sometimes..

However, nothing irreparable!

Thank you for the support :D
__________ THE :smt096 IS A LIE__________

User avatar
Mira
rank: 1000+ posts
rank: 1000+ posts
Posts: 1556
Joined: Thu Nov 10, 2016 8:37 pm
Reputation: 1520
Gender: Male

Re: How to be a MOnster

Postby Mira » Fri Jun 07, 2019 10:00 am

Based on what I’ve seen in the latest weeks my first target is always around a 1:0.5 RR and the second one is 1:1 (I mean from the hard stop loss - thus not my IF/THEN line)

When the entry timing is correct price almost always reaches the first target and at the moment I’m scaling out 50% of the position to hold the remaining part until the second target (that sometimes it never reaches).

However if stats says that I have more probabilities of reaching target one why should I hold more than that?
__________ THE :smt096 IS A LIE__________

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1987
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 430
Gender: Male

Re: How to be a MOnster

Postby aliassmith » Fri Jun 07, 2019 8:08 pm

Mira wrote:Based on what I’ve seen in the latest weeks my first target is always around a 1:0.5 RR and the second one is 1:1 (I mean from the hard stop loss - thus not my IF/THEN line)

When the entry timing is correct price almost always reaches the first target and at the moment I’m scaling out 50% of the position to hold the remaining part until the second target (that sometimes it never reaches).

However if stats says that I have more probabilities of reaching target one why should I hold more than that?


Stats are fluid based on market conditions so consider them when you consider your stop/targets. Also if waiting for a second target is not probable for you then don't do it. You will definitely need to find a balance between accuracy and profitability. It takes some trial and error but you can figure out when you make money and replicate your trades only during those conditions.

You have to ask yourself...When have I been successful?
Once you find the answer to that you just practice that like a robot.
Trade Your Way as Long as It Makes Money!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”