Sleepy Trades

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Mira
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Sleepy Trades

Postby Mira » Fri Jul 14, 2023 1:28 pm

Hello my friends!
It's been a while.. some things changed forever, we lost some friends and that still hurts. However I'm happy to see that some 'old' guy are still around and some new too.
I stopped daytrading a few years ago except for some case but I kept investing and following the markets, then I started to learn coding and I love it.. but I can't waste years of trades and efforts. I'm going to master this sht, no excuses.

THE CASE

Analysing my trades I discoverd that I have an idea of what price is doing and a lot of techniques to use but my discipline sucks.
I wanted too much too fast and I ended taking newbie-like trades.. sooo stupid.
However I'm learning patience and precision and I want to continue on this path.

THE PLAN

Since I got no time to look at the charts everyday I'm going for an EOD strategy and this will give me some benefits like:

- less time needed to trade
- less stress / emotions
- more time to analyse the charts

This week I started with a demo account (I need to warm up a bit ahahah) but I will switch to real micro-account or a funded one soon,the next week maybe.

CONCLUSION

To conclude I just want to add that I missed to post here and that's one of the main reasons that took me back to trade.. please post here what the f you want.

Thank You!
__________ THE :smt096 IS A LIE__________

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Mira
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Re: Sleepy Trades

Postby Mira » Fri Jul 14, 2023 2:09 pm

Here we go with a few trades that I took in these days. In the future I'll try to use a consistent template (sorry) and a better analysis.
Since I have plenty of time between a trade and another I could even try to call them live, I don't care if it will hit the stop loss.. I don't need to prove nothing.. but it could be an interesting night conversation. Let's see.

Whatever..

The purple line represents the stop loss, I chickened out the first one and left some money on the table for the second one.
Ended with some $$ btw

13072023 AUDCADDaily.png
13072023 AUDCADDaily.png (73.99 KiB) Viewed 1724 times


here I forgot to draw some lines.. however I had a tight stop loss at the previous day high (green bar) and took the profits when the daily bar closed around its mid, I could have made more but I still got the money.

13072023 USDCADDaily.png
13072023 USDCADDaily.png (65.21 KiB) Viewed 1724 times
__________ THE :smt096 IS A LIE__________

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Don_xyZ
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Re: Sleepy Trades

Postby Don_xyZ » Fri Jul 14, 2023 2:45 pm

Mira wrote:Hello my friends!
It's been a while.. some things changed forever, we lost some friends and that still hurts. However I'm happy to see that some 'old' guy are still around and some new too.
I stopped daytrading a few years ago except for some case but I kept investing and following the markets, then I started to learn coding and I love it.. but I can't waste years of trades and efforts. I'm going to master this sht, no excuses.

THE CASE

Analysing my trades I discoverd that I have an idea of what price is doing and a lot of techniques to use but my discipline sucks.
I wanted too much too fast and I ended taking newbie-like trades.. sooo stupid.
However I'm learning patience and precision and I want to continue on this path.

THE PLAN

Since I got no time to look at the charts everyday I'm going for an EOD strategy and this will give me some benefits like:

- less time needed to trade
- less stress / emotions
- more time to analyse the charts

This week I started with a demo account (I need to warm up a bit ahahah) but I will switch to real micro-account or a funded one soon,the next week maybe.

CONCLUSION

To conclude I just want to add that I missed to post here and that's one of the main reasons that took me back to trade.. please post here what the f you want.

Thank You!


Hi Mira. It's great to see you posting again!
I enjoyed reading your exchange with the other members from back then.
I also enjoy coding these days.

Since you don't have that much time to sit the chart daily then why not go with 1 minute with FX or 5 seconds chart with ES or NQ? A little over 15 minutes for M1 chart might be enough to quench your pip-hungry appetite or maybe just 5 minutes in the case of 5 seconds chart. I mean it depends on which one weighs more for you, is it the no time available during the day or the hungry for fast pips and fast money.
My threads

Patterns Observation
post148989#p148989

BONZ
post151670#p151670

MENTAL FORTIFICATION
post168148#p168148

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Mira
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Re: Sleepy Trades

Postby Mira » Fri Jul 14, 2023 3:51 pm

Don_xyZ wrote:
Mira wrote:Hello my friends!
It's been a while.. some things changed forever, we lost some friends and that still hurts. However I'm happy to see that some 'old' guy are still around and some new too.
I stopped daytrading a few years ago except for some case but I kept investing and following the markets, then I started to learn coding and I love it.. but I can't waste years of trades and efforts. I'm going to master this sht, no excuses.

THE CASE

Analysing my trades I discoverd that I have an idea of what price is doing and a lot of techniques to use but my discipline sucks.
I wanted too much too fast and I ended taking newbie-like trades.. sooo stupid.
However I'm learning patience and precision and I want to continue on this path.

THE PLAN

Since I got no time to look at the charts everyday I'm going for an EOD strategy and this will give me some benefits like:

- less time needed to trade
- less stress / emotions
- more time to analyse the charts

This week I started with a demo account (I need to warm up a bit ahahah) but I will switch to real micro-account or a funded one soon,the next week maybe.

CONCLUSION

To conclude I just want to add that I missed to post here and that's one of the main reasons that took me back to trade.. please post here what the f you want.

Thank You!


Hi Mira. It's great to see you posting again!
I enjoyed reading your exchange with the other members from back then.
I also enjoy coding these days.

Since you don't have that much time to sit the chart daily then why not go with 1 minute with FX or 5 seconds chart with ES or NQ? A little over 15 minutes for M1 chart might be enough to quench your pip-hungry appetite or maybe just 5 minutes in the case of 5 seconds chart. I mean it depends on which one weighs more for you, is it the no time available during the day or the hungry for fast pips and fast money.


Hi Don, thank you!

Very nice, are you on a particular programming language at the moment? I had some basics from school but it was years ago LOL.
One year ago I started with Python and lately I'm on Kotlin and Android, Python is my first choice by the way.. it's too intuitive and versatile.

However thank you for your suggestion, are you trading those time frames? Honestly I've always been fascineted by scalping but I found that is not my way, not now. I have a few 5 mins straegies that I traded for a while but I get greedy quickly af :lol:
I'll be happy to learn more in the furure btw, I'll follow up your trades

For the moment I'll focus on simple things:

- 1 stress-free time frame (D1)
- trade 1 time per day (EOD)
__________ THE :smt096 IS A LIE__________

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Mira
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Re: Sleepy Trades

Postby Mira » Fri Jul 14, 2023 4:03 pm

This is still open since last night.
Simple momo + wick.
The take profit is sitting there just as a reminder, all the decisions will be taken at the end of the day.
This time I kept a bit larger stop loss, 100% stress-free

14072023 O EURGBPDaily.png
14072023 O EURGBPDaily.png (62.72 KiB) Viewed 1702 times
__________ THE :smt096 IS A LIE__________

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Re: Sleepy Trades

Postby IgazI » Fri Jul 14, 2023 5:09 pm

Mira wrote:This is still open since last night.
Simple momo + wick.
The take profit is sitting there just as a reminder, all the decisions will be taken at the end of the day.
This time I kept a bit larger stop loss, 100% stress-free

14072023 O EURGBPDaily.png


Welcome back, Mira! :P

You might be inclined to use H4 for its complexity and D1 for its clarity;

I'd go with a 30 MA of the open price on the H4 and a 5 MA on the daily.

The most affordable way to enter, obviously, is off of the minute charts and onto the multi hour;

the day closes favorably, hopefully, and then you just follow your exit strategy.

complexity_clarity.jpg
complexity_clarity.jpg (161.99 KiB) Viewed 1659 times


If you find more time then try a setup like this:

M1: 20 MA open
M5: 04 MA open (shared space with D1)
H4: 30 MA open
D1: 05 MA open

Mira_Setup.jpg
Mira_Setup.jpg (173.69 KiB) Viewed 1651 times
"Everything Should Be Made As Simple As Possible, But Not Simpler!"

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Mira
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Re: Sleepy Trades

Postby Mira » Fri Jul 14, 2023 7:47 pm

IgazI wrote:
Mira wrote:This is still open since last night.
Simple momo + wick.
The take profit is sitting there just as a reminder, all the decisions will be taken at the end of the day.
This time I kept a bit larger stop loss, 100% stress-free

14072023 O EURGBPDaily.png


Welcome back, Mira! :P

You might be inclined to use H4 for its complexity and D1 for its clarity;

I'd go with a 30 MA of the open price on the H4 and a 5 MA on the daily.

The most affordable way to enter, obviously, is off of the minute charts and onto the multi hour;

the day closes favorably, hopefully, and then you just follow your exit strategy.

complexity_clarity.jpg

If you find more time then try a setup like this:

M1: 20 MA open
M5: 04 MA open (shared space with D1)
H4: 30 MA open
D1: 05 MA open

Mira_Setup.jpg


Thank you IgazI!

Clear as water. Yes, smaller charts are more accurate for entries.
I could watch H4 charts too but I’d go for a single time frame for the moment.
I have to master discipline more than technique and then I’ll tune entries too.
However my exit strategy still needs an improvement, any suggestion will be well accepted :D :D
__________ THE :smt096 IS A LIE__________

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Re: Sleepy Trades

Postby kiwiarian » Fri Jul 14, 2023 8:36 pm

Mira wrote:
IgazI wrote:
Mira wrote:This is still open since last night.
Simple momo + wick.
The take profit is sitting there just as a reminder, all the decisions will be taken at the end of the day.
This time I kept a bit larger stop loss, 100% stress-free

14072023 O EURGBPDaily.png


Welcome back, Mira! :P

You might be inclined to use H4 for its complexity and D1 for its clarity;

I'd go with a 30 MA of the open price on the H4 and a 5 MA on the daily.

The most affordable way to enter, obviously, is off of the minute charts and onto the multi hour;

the day closes favorably, hopefully, and then you just follow your exit strategy.

complexity_clarity.jpg

If you find more time then try a setup like this:

M1: 20 MA open
M5: 04 MA open (shared space with D1)
H4: 30 MA open
D1: 05 MA open

Mira_Setup.jpg


Thank you IgazI!

Clear as water. Yes, smaller charts are more accurate for entries.
I could watch H4 charts too but I’d go for a single time frame for the moment.
I have to master discipline more than technique and then I’ll tune entries too.
However my exit strategy still needs an improvement, any suggestion will be well accepted :D :D

Hi Mira,
Welcome back, looking forward to your posts.
One thing that helped me with my discipline and focus is ditching the demo account and taking up one of the basic prop firm evaluation accounts that has no time limit on it (no time pressure at all), so for a small cost you have real money (and emotions) on the line, plus you are forced to trade within a set of risk parameters.

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Mira
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Re: Sleepy Trades

Postby Mira » Fri Jul 14, 2023 9:19 pm

Thank you kiwiarian!!
What firms are you using?
I gave a try to MyForexFunds, I passed the first stage in a few days but I burnt the second one even if I was in profit because the max drawdown was ok equity. Another time I failed the second one because time was running out and had to risk it all :lol:

I heard that many firms are removing the time limit, very interesting..
__________ THE :smt096 IS A LIE__________

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Re: Sleepy Trades

Postby kiwiarian » Fri Jul 14, 2023 11:13 pm

Mira wrote:Thank you kiwiarian!!
What firms are you using?
I gave a try to MyForexFunds, I passed the first stage in a few days but I burnt the second one even if I was in profit because the max drawdown was ok equity. Another time I failed the second one because time was running out and had to risk it all :lol:

I heard that many firms are removing the time limit, very interesting..

I'm just using the smart prop trader at present, reasonable prices (got mine on the special mentioned in their Discord), seems good enough for me to be target focussed and work on my efficiency/execution.
The 5% ers I understand are doing no time limits too now who Alias has recommended in the past.
@Bambino, what was the UK prop firm you are using that has a drawdown limit that does not change if you are in profit giving you more drawdown than the starting balance?

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