Vaco
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That scares me, I hope your not letting our calls influence your trading, imho if you are you should go back to demo as you should have the confidence to follow your signals regardless of what others are doing.
My win rate is sitting at 55% but that includes all the BE trades wich closed for less then a pip profit.
I would expect to be no better then 50/50 not including them and would still be comfy at 40%
or another way to look at it is that I have lost 200 pips since 1st feb offset only because i've also made 500 pips on my winners.
It's not that Vaco.
Most of the time I go with my plan. This morning woke up late and could see downtrend - that's why I opened short. Afterwards read your post, checked the chart again (IMO you have good calls most of the time, often similar to mine) and there was a change in trend.
PS long went OK through the report
Most of the time I go with my plan. This morning woke up late and could see downtrend - that's why I opened short. Afterwards read your post, checked the chart again (IMO you have good calls most of the time, often similar to mine) and there was a change in trend.
PS long went OK through the report
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out -22
I'm out of trading today
I had 2 losses (that's max in a day according to my rules) It doesn't matter if I lost only 2 pips in all the trades. What to do - I'll miss NY open
My rules may look harsh, but it may be a good thing. Since started with them, it encourages me to think carefully before entering a trade.
Only thing it's a bit frustrating. Today I only lost 2 pips and can only look at some nice potential trades (especially round NY open) without doing anything.
In the future may come with some better rules, but for the time being wouldn't think about breaking them.
I'll do that - no looking at the charts. I may be disciplined, but I'm not a masochist.
be-positive
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vaco
last long price and stop on your chart thread are what please ???
last long price and stop on your chart thread are what please ???
temporarilylight
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small long 1.5626
25 pip stop
stopped.
25 pip stop
stopped.
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Let me join this dialogue. At the moment short GU at 5650 for 5605 (s1) and x @ 5650 b/e
I see 9 candles down 15' but just 2 on the hourly since that b/d following King's statements
be-positive
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long 23 stop 04 tp 73
Stopped at 1.56. Nevermind this bounce I still see it lower (not gd time of day though). I use TomdeMark tool and see a 9th day down today
trendie
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have you done any data analysis such as what would have happened if you had a wider stop-loss? in a counter_violent sort of stop-losses-cause-you-to-lose-more-money way?
also, of all the trades you have taken, how many of these trades are "outliers"?
what I mean is, if your average win is X-pips, but a small number of wins is 5X-pips, if you removed those outliers, how would your stats come out? eg, what would happen to your stats if you took away the top 5% of biggest wins?
ie, is your system based on good profit-taking, or mostly mediocre win/loss trades, but relying on occasional big returns to give you your edge?
I ask this, because despite being a trend-follower, I have found that taking 35-60 pips per trade provides a more stable equity curve, rather than allowing a trade to give up good profits on the off-chance of runners.
Clearly you seem happy with your rules, and have an edge, the next step would be to maximise that edge.
Would you say your edge is good entry, or good exit? Or both?
Vaco
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trendie - its more a case of having found what i am comfertable with, rather then what gives the maximum return, you have to be able to execute the plan.
With stop losses, for me the tighter the better previous candle high + a few pips is enough although this week i've been punching in a hard 20 pip stop just because its quick and easy
Targets -using the daily range makes sense to me, i'm trying to ride out the main trend of the day no of pips will depend on whats left in the range frrom my entry so no set amount.
Edge- i think its to early to say that I have one yet only 8 trading days on the journal and 32 trades but if I had to choose it would have to be exit as I just keep punching away with the entries.
If i'm still averaging 100+ a week with 20 pip stops after 100 tardes i'll be happy as it represents 5% growth (20 pip=1%) a week.
i really dont think i would change a thing, have worked so hard to find something that feels right and gets results for me with so many false starts and failed attempts that I just want to get a few hundred tardes under my belt with the p&l still positive to give me the confidence to invest in my bank roll.
Saying that i'm not trading the break out element anymore as the sl was just too large for me.
apart from tht the only rules i'm working on engraving in my head are stay off tf lower then M15 and give more respect to sniper stops from higher TFs.
With stop losses, for me the tighter the better previous candle high + a few pips is enough although this week i've been punching in a hard 20 pip stop just because its quick and easy
Targets -using the daily range makes sense to me, i'm trying to ride out the main trend of the day no of pips will depend on whats left in the range frrom my entry so no set amount.
Edge- i think its to early to say that I have one yet only 8 trading days on the journal and 32 trades but if I had to choose it would have to be exit as I just keep punching away with the entries.
If i'm still averaging 100+ a week with 20 pip stops after 100 tardes i'll be happy as it represents 5% growth (20 pip=1%) a week.
i really dont think i would change a thing, have worked so hard to find something that feels right and gets results for me with so many false starts and failed attempts that I just want to get a few hundred tardes under my belt with the p&l still positive to give me the confidence to invest in my bank roll.
Saying that i'm not trading the break out element anymore as the sl was just too large for me.
apart from tht the only rules i'm working on engraving in my head are stay off tf lower then M15 and give more respect to sniper stops from higher TFs.
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