That was a easy one.
Where did you saw the short signal anyway ? That price already moved 200 ? It developed quite nice up bar on h1 too and your second entry was after a BO of h1 bar.
ProchargedMopar's Trading Trilogy
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prochargedmopar wrote:Will someone on this board please answer me a couple questions.....???
First, who in the hell is buying after a 200+ pip move straight up?
Not suppose to be the heard and "chase" price.......yeah right.
Most times I do and it reverses Immediately draining my account,
Soooooo.
Not suppose to reverse against "trend".
Most times I do, and it Buries me.
See how price comes back below support, then it comes back a couple times to support, then it won't even come back for a re-test.....WTF?
And that's after price has moved THAT far......
How?
I've about had it!
Help please.........!!!
If price closed higher than something then it is going up
If price did not close lower than something then why are you selling?
Try not to be a confirmation whore PRO
- prochargedmopar
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jarnapal wrote:That was a easy one.
Where did you saw the short signal anyway ? That price already moved 200 ? It developed quite nice up bar on h1 too and your second entry was after a BO of h1 bar.
Thx for the pic Jarnapal, nice slap in the face!!
So your saying these two entries where much better, then once in a trade DO NOT accept 7 pips like I did on a/j......WAIT until price does or doesn't close over a line, then pick exit. (or exit on fast moving extreme).
Entry was after price did NOT close below my line.
IF I wanted to play 00 short it should have been on "first touch".
Entry was after price did NOT close below my line.
Here is a simple assessment of G/J using close over a line method.
Instead of exiting at 50, A better plan may have been to take some profit, THEN add when price decided to "close over that line".
I understand the market from a fundamental perspective. As in, what drives price movement, ect. Today was a full on risk Session given all the external stimulus that was injected into the market.
I understand the market from a technical perspective. As in, price closes over a line or it doesn't and MOST of what that entails from many different angles (pun intended).
I decided a few days ago.
NO MORE READING NEW SYSTEMS OR METHODS.
NO MORE WATCHING ANY TRAINING VIDEOS.
Just me and my lines.
Something inside is NOT right. I've got to find this demon and pull an exorcism on his ASS.
He's driving me crazy.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- prochargedmopar
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Starry eyed:
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
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- aliassmith
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MightyOne wrote:If you would just focus on one longer term trade at a time then your life would be so much easier.
I could be wrong 98% of the time and make a fortune...
98% seems a bit high of a loss rate to be profitable. Guess it could be
pretty high and still work. I have seen some traders that lost 75% of
their trades and make money.
The way I see you do it by risking 4.5% and making 50% to 150% on
a trade is a nice ratio for success. Just need the right amount of leverage
and not scale down after losses to make it work well. Which you do of
course.
Trade Your Way as Long as It Makes Money!
aliassmith wrote:MightyOne wrote:If you would just focus on one longer term trade at a time then your life would be so much easier.
I could be wrong 98% of the time and make a fortune...
98% seems a bit high of a loss rate to be profitable. Guess it could be
pretty high and still work. I have seen some traders that lost 75% of
their trades and make money.
The way I see you do it by risking 4.5% and making 50% to 150% on
a trade is a nice ratio for success. Just need the right amount of leverage
and not scale down after losses to make it work well. Which you do of
course.
My max risk is 4.5% which is 90 pips...
Those times when I do exit manually it is usually a loss of <1 to <2%
4.5% is the maximum WEEKLY draw down which is an average of 0.9% per day.
MO - 2 quick questions if possible:
1. If you speak of monthly low, do you mean the low for a given calendar month (ie August in your screenshot) or last extreme (sem 3) on monthly chart?
2. Assuming 3 average-ins, where would you place your entries in above chart?
Thanks for your continuous teaching efforts....
1. If you speak of monthly low, do you mean the low for a given calendar month (ie August in your screenshot) or last extreme (sem 3) on monthly chart?
2. Assuming 3 average-ins, where would you place your entries in above chart?
Thanks for your continuous teaching efforts....
mob wrote:MO - 2 quick questions if possible:
1. If you speak of monthly low, do you mean the low for a given calendar month (ie August in your screenshot) or last extreme (sem 3) on monthly chart?
2. Assuming 3 average-ins, where would you place your entries in above chart?
Thanks for your continuous teaching efforts....
A1. Simply the lowest low or highest high on your monthly candle.
A2. Over that distance I would only get off one entry unless I decided to liquidate high and increase my position size on the RET.
I would start with no greater than 20% of max leverage, maintain position size, and aim to max out over a longer period such as many hours, days, or weeks.
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