Same trade as you.
The entry was aggressive because ther was a low 90min before which was one pip under the level of the entry. And, as Bob says, in a quiet environment, it's better to follow strictly the bounds of the range.
The entry was aggressive because ther was a low 90min before which was one pip under the level of the entry. And, as Bob says, in a quiet environment, it's better to follow strictly the bounds of the range.
Hi,
I was trapped in a false breakout this morning with a loss of 3.5 pips.
Same trades as Mitch91 plus one silly. -16 for the day.
Well, two more losses with the same kind of trap.
That's a total loss of 10.3 for today.
This market is going nowhere so I think I'm done for today.
Tomorrow's another day...
I don't feel alone then.But I think the best would have been to not trade at all in such days.
This is what I still have to learn, not trading when the odds are against me.
The good thing is that I was at last able to realize that and stop trading before I loose too much. I know that a few weeks ago I was not able to do this so there's hope...
And today is gonna be touchy so I'm not sure I will trade at all.
Hi,
This is soooo difficult...
I've been trapped 4 times in a row this morning for a total loss of 15 pips.
This is hopeless. How can you make a living this way ?
I've been training myself for 3 months now and I'm still far away from being successful.
How long do you think it can take ?
This is soooo difficult...
I've been trapped 4 times in a row this morning for a total loss of 15 pips.
This is hopeless. How can you make a living this way ?
I've been training myself for 3 months now and I'm still far away from being successful.
How long do you think it can take ?
Can you post a screenshot of your trades ?
Hi,
This is soooo difficult...
I've been trapped 4 times in a row this morning for a total loss of 15 pips.
This is hopeless. How can you make a living this way ?
I've been training myself for 3 months now and I'm still far away from being successful.
How long do you think it can take ?
Yep sure.
Here they are:
1. I tried a buy on IRB expecting price to go back to 1.38 level after 1.3780 rejection. But apparently the bear trend was too strong: -2.4 pips loss.
2. I tried then a sell on a BB expecting the pull back to be over and the bear trend to resume. -5.4 pips loss
3. Following the previous I immediately switched to a buy on trended BB breakout, expecting (once again) the 1.38 aspiration. -4.6 pips loss
4. And finally I tried to sell on an IRB expecting, again, the pull back to be over. -3 pips loss.
They all look valid to me except they might be a bit aggressive. I don't know really. Any thought ?
Here they are:
1. I tried a buy on IRB expecting price to go back to 1.38 level after 1.3780 rejection. But apparently the bear trend was too strong: -2.4 pips loss.
2. I tried then a sell on a BB expecting the pull back to be over and the bear trend to resume. -5.4 pips loss
3. Following the previous I immediately switched to a buy on trended BB breakout, expecting (once again) the 1.38 aspiration. -4.6 pips loss
4. And finally I tried to sell on an IRB expecting, again, the pull back to be over. -3 pips loss.
They all look valid to me except they might be a bit aggressive. I don't know really. Any thought ?
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I think they are all quiet aggressive. None of them have a real build up and squizze. Don't forget that we try to go in where others would want to go in too or to bail out. It looks like you ''see'' where price wil go, until you got stopped out. By looking to your last three trades, it looks like you were looking for a message from every candle that got printed. You have to step back. Don't bail out though. Three month is nothing, I've been trading this method for six month (and others are there since a longer time), without ending profitable, but i learn every day( of course not as fast as i would like). What I've learned recently, and I'm still learning, is not to trade. It seems like this dead market will stick around for a while....maybe until february when the debt ceiling is passed? next shutdown? I think we should really take only very obvious trades, even if you miss some.
Sorry for your trades though.... but yes, you can make a living from it.
We ''just'' have to have the right mindset and consistency of the 1% that is not loosing money in the forex market.
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I didn't trade this session, so it's easier to tell things in hindsight but here are my 2 cents:
* the first is a clear counter-trend trade. Too soon to trade a reversal.
* the second: look at the support on the left. I can't see too much downward pressure too.
* the third: tradable but you had a news five minutes after
* the fourth: counter-trend trade
One question: what's your feed because I think you have less candles for 70 ticks than the ProRealTime's platform ?
* the first is a clear counter-trend trade. Too soon to trade a reversal.
* the second: look at the support on the left. I can't see too much downward pressure too.
* the third: tradable but you had a news five minutes after
* the fourth: counter-trend trade
One question: what's your feed because I think you have less candles for 70 ticks than the ProRealTime's platform ?
True about the feed, you have less candles than on PRT. Here is the same time as your trades.Compare it. I know it is a pain in the ass, especially when we are not profitable, but you should pay the price of a reliable feed provider. It can be Ninjatrader, some brokers offer a free version. For prorealtime, i pay 220€ for six month. 380 for a year i think.
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Thank you both for your comments and advices.
It's good to see that you're not alone.
).
It's good to see that you're not alone.
You're absolutely right. This is an issue I need to work on and solve. I've got my noze too close to the screen and I definitely need to step back and double think before taking a trade.
That's a very good advice. This is also an issue I need to work on. I don't want to miss any opportunity and so I jump on too quickly. The reason for this is that I really feel painful when I don't take a trade and I see prices moving in the direction I wanted to take. I try to tell myself that there will be countless new opportunities in the future, it's stronger than me most of the time.
Don't feel sorry, I'm still training myself with a demo account so there's no harm really.
Thanks for your comments. I'm actually using an ActivTrades feed with MT5 and a homemade tick chart. I already realized that 70 ticks was too much if I wanted to have the same charts as yours, so I reduced already to 50 ticks. I can easily reduce again maybe to 40 ticks to have the same number of candles. I'll try that. thx.
Yep, I already thought about adopting PRT. I put this aside for the moment but eventually this is the way I want to go. When I start making money and be able to live from it, spending 220€ every 6 months will not be an issue (well I hope so
).Feelings feelings. For a long time I was really (but really) pissed off when I missed a trade as well as when I could ''see'' prices go in a direction only to find out it went directly the opposite. I was even pissed off when I was looking for a setup to set itself up and to see it crumble. But now I am really indifferent, and it is a relief. It is actually 80 percent of the hard work I think (at least for me). I was like you, scared to miss a trade so I took every candle. Less is more in this game. Our work is not to trade, but to analyse. Tell your self a story while prices moves, like, ho, the bulls tried but failed, but then the bears didn't jump on the opportunity....does the bulls will go back in? where? when? only a nice build up will tell, or a false break, or whatever... but your story needs to be logical(even if the market isn't), there is a beginning, a body and the end. If your story is crashed in the middle by a asteroid, don't panic, another story will come out of it too.
Best regards,
Kulpio
Best regards,
Kulpio
BLS
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Week 43 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
matty_dunn
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