Eur-Usd SL demo trades

[bansir]

Hi folks,

This thread is a spin off from my demo trades which started on: http://www.trade2win.com/boards/fir...need-trade-horizontal-line-therumpledone.html

I started out testing out the above horizontal line (Buy Zone) strategy using a demonstration account provided by Oanda.

I tested through Feb and March to the begining of this month but I couldn't make it work. I would have a little bit of success but then bad losing days would pop up and kill off any gains.
See the thread if you want to get the full pain

I did, I think learn a little along the way and now have the beginings of a Squiggly Line (SL) method which I intend to develop over the next couple of months.

All trades are only demo, not real money.

It's just an experiment.

Just trying to learn a bit more about trading and my own psychology.

I use Eur-Usd 5min candles with SMA(12) otherwise known as the squiggly line (SL).
Trade London and/or US sessions.

Typical trade duration anything from seconds to an hour or more.
If price is above SL only consider going long.
If price is below SL only consider going short.

Don't go long or short just any place!
Look for some nice reactions of support and resistance.
Maybe even look for a breakout from support/resistance.
Look for a nice slope on (SL), avoid sideways squiggles if you can.

Results so far: Monday was 4 trades for +42 pips. Today was 2 trades for -2 pips.
Here are the charts just to get things rolling:

 

[bansir]

SL Demo trades for today:

5 trades, -20,+4,0,+7,+7

So -2 pips.
Considered taking the break out at B1 but thought it would be better to wait
for a retrace.

 

[bansir]

Eur-Usd- SL demo trades

Todays results:

14 trades and -55 pips.

I widened my stops which I think proved to be a mistake.
Also I had a little experiment with a pin type candle which didn't work.
I should have closed this one around BE anyways.

Three big hits -30, -42, -30 proved too much.
I would have been in positive pips otherwise.

Best Regards,
Neil

 

[bansir]

Eur-Usd SL demo trades Friday-18th-April

Bad start, but then some recovery.

-5 pips in 9 trades.

-14, -14, -14, -8, -12
+7, +34, +12, +4

Let your winners run.

Best Regards,
Neil

 

[trendie]

whats happening here then?
this is one of the more interesting threads, what with an openly declared set of parameters, and daily updates showing warts-and-all trading.

has this thread been abandoned?

 

[bansir]

whats happening here then?
this is one of the more interesting threads, what with an openly declared set of parameters, and daily updates showing warts-and-all trading.

has this thread been abandoned?

Hi Trendie,
I'm still here.
Just thought I'd have a bit of a break.
Will kick off again next week, see what we can do with through May.

Thanks for the nudge

Very Best Regards,
Neil

 

[bansir]

Eur-Usd Demo Trades

Hi,
Today's effort, just +3 pips in 4 trades.
2 losers, 2 winners.

-5, -5, +7, +6

Could have done better on last trade.
I'm using fixed 5 pip stops, trying to place them behind s/r where poss.
Here's the chart:

 

[bansir]

Eur-Usd Demo Trades

5 trades today for -14 pips
-5, -5, -5, -5, +6

I need to let the winners run.
If you look at today's chart you will also see that
rols was spot on with his comments here:

http://www.trade2win.com/boards/415018-post253.html

 

[bansir]

Eur-Usd Demo Trades

Bad day today with -31 pips in 18 trades.

Had it sorted by 11am but went on to mess up.
I get these clusters of bad trades. They're only small hits individually but they add up.
Also I struggle to let winners run.
The combination of losing bursts and jumping out of winning positions too early seems to be holding me back at the moment.

Tomorrows objectives then:
1. If I get into a winning trade, see how far I can trail the stop, try and aim for 20 pips minimum if conditions allow. That's 4x my 5 pip stop.
2. 5 trades absolute max. whatever happens.

Here's the chart, don't laugh...
Well alright then go on, if you must.

Best Regards,
Neil

 

[jonj]

[
hi there bansir,just come accross your thread looks interesting so far,and big respect for your balls!

Also I struggle to let winners run.
The combination of losing bursts and jumping out of winning positions too early seems to be holding me back at the moment.

in my inexperienced opinon if you dont mind me giving it,this is exactly the problem here ,after jus a quick look at your charts thats exactly what jumpped out at me.you closed 2 trades right in the middle of big candles coming off your ema on your last chart!? i also have serios doubt about this sellin half of the position and only lettin half run strategy,never liked it.that means you have to make the same amount of pips again just to break even(if you had sold the full position)in your time frame isnt that a lot of pips ??
anyway just my 2ps worth to contribute somthing,good luck

 

[bansir]

[
hi there bansir,just come accross your thread looks interesting so far,and big respect for your balls!



in my inexperienced opinon if you dont mind me giving it,this is exactly the problem here ,after jus a quick look at your charts thats exactly what jumpped out at me.you closed 2 trades right in the middle of big candles coming off your ema on your last chart!? i also have serios doubt about this sellin half of the position and only lettin half run strategy,never liked it.that means you have to make the same amount of pips again just to break even(if you had sold the full position)in your time frame isnt that a lot of pips ??
anyway just my 2ps worth to contribute somthing,good luck

Hi jonj,
Thanks for your observations and feedback.
Yes, I agree now with your comments on letting winners run.
I think I haven't really decided on whether I'm scalping or trend following and I keep chopping and changing. I was trying to do both.

I have also gone cold on the idea of closing half positions for the very reason you give.

I need to simplify things, just practice the basics, let the winners run and avoid over trading.

Great to see your post, good luck with your own learning; T2W is the
place to be.

Best Regards,
Neil

 

[bansir]

Eur-Usd DEmo Trades

-25 pips in 6 trades.

Took one more trade than I meant to, but managed at least to avoid over trading.

Looking back, I see I was trading in a region with very little in the way of price movement. Like trying to get milk from a dry cow.
See the dark background chart which illustrates this point nicely.

I have 5 pip stops so I need to make 10 to 15 pips minimum on winning trades
to achieve decent R:R
That in turn means there must be at least 75+ pips movement in price, (assuming I can capture 1/4 of the range) to stand any sort of chance.

Lets see if I can make a decent play tomorrow.
I will stick to 5 trades max. and aim to trail my stops, this time with one eye on the price range.

Best Regards,
Neil

 

[bansir]

Eur-Usd Demo trades

My losing run continues but I do have some sort of grip on the over trading issue.

7 trades on Friday for -38 pips.
-5, -5, -5, -9, -5, -4, -5

I should have made some pips on the last trade but I just left the stop where it was instead of trailing it down. It was good practice I guess, actually letting it run and not just grasping at any slight profit.

I need to stop screen watching.

Here's the chart:

 

[bansir]

Eur-Usd Demo Trades

+3 pips from 8 trades.
-5,-5,-5
-5,-6,-5
-4, +38

The winning trade was ok and it just about covered my costs but I should have closed it higher for +58. I was just glad to be above BE for the day and felt some relief on closing. Not good I suppose; emotion running the show again.

Here's the chart:

 

[bansir]

Eur-Usd Demo Trades

Today was poor pips wise...
-58 and 19 trades, so over trading too.
But I did do a fair bit of experimenting along the way.

The first group of trades was -5, -5, -5 -6 and +4.
I couldn't resist just trying out the pin candle counter trend even though I could see no confirmation for it.
The +4 exit I should really have closed when the price was offering +23 pips just to keep in the game.

I went price chasing next and got burned -5, -5 but was able to extend the down trend line to use for further trades.
I noticed one of those 'DHLC' formations cutting up into the down-trend and it would have made a nice short. Maybe watch out for more of these.
Total madness ensued at around 13:30; not sure what I had in mind. I was just reacting and slumped into a 'what the hell' frame of mind.

I then noticed the formation of an upward channel- probably blame some of MP's stuff for this . It seemed to work very well though. Some of the entries around this were so counter intuitive to me that I had to really force myself to take them.
I found I could use the channel trend to plan exits too-- great!
I'm not sure if this channel play was by the book; did I get something right or was I just lucky? Dunno.
On reflection I think I got too much stuff in my head that I've picked up all over the place and I am struggling to refine it into something thats personal.

Ah well,
See you later, here's the chart. It's a mess. Like my trading.

 

[bansir]

Hi,
Sometimes this works.
Three little sisters, google it.
You get three peaks S1 to S3 then the SMA break.
In this one I waited for the retest and then moved in short.

I closed too early as usual. Should have hung in till support was touched.
Don't recommend the second trade. This is my self destruct side comming out.

Next step would be to look for another re-test of the SMA and go short.

Best REgards,
Neil

 

[bansir]

Well the re-test was on the previous support.
I went in with 5 point stop above s/r and SMA.

Out for +8

Bye for now,
Neil

 

[bansir]

Just to cap it off, it does blow back in my face in the end.
Fortunately, this time I'm long gone.

Best REgards,
Neil

 

[bansir]

Just a summary to put my trades in perspective.
Missed the nice move after 15:00, it went fast and I don't think I could have got on board safely even if I had been at the screen.

Still, a rare positive pips day with +19 in 3 trades.

 

[pontebagno]

PinBar Reversals ?

Hi Bansir,

Came upon this thread by chance.
After seeing your postings on TD's thread

http://www.trade2win.com/boards/first-steps/26947-making-money-trading-234.html

I thought you were persevering with PinBar reversals

Have you given up on that or are you trading the method in this thread with a separate account ?

regards,

-- PB