Hello Mike,
Good to have you here & thank you for your kind words.
Wish you all the best for your journey. Lets make this new year profitable. You are welcome to contribute here.
Good luck
Regards
Sun
Hello Mike,
Good to have you here & thank you for your kind words.
Wish you all the best for your journey. Lets make this new year profitable. You are welcome to contribute here.
Good luck
Regards
Sun
Advance Happy New Year 2016!
This year is very important to me..lots of things is going to happen, either it will end up worst or it will end up best...what it will happen some depends on my efforts & rest I leave it to the God..Lets See...
Cheers!
arty:
This year is very important to me..lots of things is going to happen, either it will end up worst or it will end up best...what it will happen some depends on my efforts & rest I leave it to the God..Lets See...
Cheers!
arty:
Forexmospherian
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MajorMagnuM
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yes the blue candle with black circle was best short
PipsterPipstoffelees
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good luck this year sun, hope it goes well, ive lost 9 out of 10 trades so far today
i think i should reverse my buy/sell buttons and do the opposite of what i think, ill be rich in no time!
i think i should reverse my buy/sell buttons and do the opposite of what i think, ill be rich in no time!
good luck this year sun, hope it goes well, ive lost 9 out of 10 trades so far today
i think i should reverse my buy/sell buttons and do the opposite of what i think, ill be rich in no time!
Hi Mike,
Thank you & Good luck you too ....
You lost trades, I lost accounts. Current account is in ICU, will be surprised if it survives. But that's the challenge. Something needs to be done to break the pattern..Lets see..!
Regards
S
Ok, today net connection was disturbing, i failed to close many of my trades at 7-8 pips profit. But it can be an excuse too...lol
On thing i'm sure, Monday morning London session is not for me. I see this patterns since last 4 weeks. Rather I get better trades during the midday.
I got many consecutive losses during London session & consecutive profits during midday.
Today no matter what I did, my pl stays at +3.
So leaving now, will retry tomorrow..
On thing i'm sure, Monday morning London session is not for me. I see this patterns since last 4 weeks. Rather I get better trades during the midday.
I got many consecutive losses during London session & consecutive profits during midday.
Today no matter what I did, my pl stays at +3.
So leaving now, will retry tomorrow..
Also another thing from my personal view, previously I used to think that technical analysis is the key, someday I might find my Holi grail bla bla...
But actually, every supper hit strategy fails at certain time & winner traders are those people who avoid trading around those certain times.
If I would have followed F's timing properly, then I would have been successful & will not get delayed
But actually, every supper hit strategy fails at certain time & winner traders are those people who avoid trading around those certain times.
If I would have followed F's timing properly, then I would have been successful & will not get delayed
This is the current picture of EU.
I marked 2 blue dots..Distance between 2 dots is 42 minutes. Means at the yellow zone area, it was 30+ minutes up from the last low. So it should be bullish isn't it, even after a correction?
But I actually sold as longer LR was there.
In later part it broke 8004, the last low..
My question is how is this 30 minutes rule works?
I was confused that's from the blue dot when i sold position, I closed position at 5 pips profit, when it was touching 65 LR. But originally it made more 6 pips, which i missed as i was not sure..where my target should be.
Regards
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PipsterPipstoffelees
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yeah i had a similar day, made some good and some bad, was at breakeven, but then towards the end seemed to make some errors and be on the wrong side of moves. -20 pips for me, but i expect to have these issues as i have only just started ... its all good experience
Forexmospherian
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Hi Sun
Sorry to hear that
I have explained the 30 and 60 min time rules with 2 other examples today
I can see real money does effect your trading disciplines
Let me give you an example of how you should plan to operate.
1. You know if you first 3 scalps are all losers - you should stop. Not for the whole day but at least 30 or 60 mins to obtain a better picture
2. If you first 3 scalps have 2 winners and 1 loss - its important that you are still in profit - ie ideally 1 win 4 pips - 1 win 7 pips - 1 loss 5 pips - net result 6+ pips. You then do the same on next 3 trades
3. If you first 3 scalps are all winners - ie say you make over 17 pips - then only stop if you lose more than 10 pips on next 2 or 3 trades. If you carry on winning and get to say 25 pips - then don't let yourself lose more than 10 pips - stop if you do
#
4. If you pick good scalps and do 5 trades with 2 losses and are up say 30 pips - stop
5. If you make 7 trades and up 40 pips - just stop - or say I will stop as soon as I lose 10 pips. If you don't then have 2 or 3 bad trades - you carry on and you might make another 40 + pips
6. Don't allow the day to take over from you - you are in control - always - every day of the week.
I appreciate you have not got a 8 or 10 hr window to trade out of your losses - but its all still possible - even under 3 or 4 hrs.
Today was an easy day. On demo you probably would have nailed it
On a live account - you are letting your fear and worry take over - and its just giving you bad trades.
Try for the rest of the week to get back in control - don't think you have to make 10 or 20 trades - you only do that when you are in the trading zone and winning
If you know yourself you are not in your "zone" - just stop and wait for another period.
Confidence will change it all and you will also regain your disciplines etc and the n carry on winning etc
Around more tomorrow
Regards
F
Forexmospherian
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Hi PP
Yes you will need to take at least 100 intraday trades to get a fair assessment of hows it going
Sun was doing well on demo - but know from past experience when she went live it would change - as it did in the past
She will get there - when she regains her confidence and conquers fear and worry taking over her natural trading ability
GL
Regards
F
Technical analysis of my accounts:
Good Morning,
Thank you F for the tips & checked out your post on 30 mins on EJ.
I today I'm going to share my last 3 accounts technical analysis. I saw same pattern over & over again.
If I somehow failed to reach daily target or i am around 50% of the daily target, but no matter how hard I try, staying over there...or my account balance is standing around same zone for longer period..I push harder which eventually drag down the account balance so bad..Freaked out zone.
So from now on, if made 10 pips & even after trying in other session, somehow returning back to 10 pips that's it...I am done for the day..
I don't have any ECN account right now. I will get my account back next after 16th Jan. Having a standard account with spread of 2. But I don't think it will work.
Will come up with an idea in this week.
Good Morning,
Thank you F for the tips & checked out your post on 30 mins on EJ.
I today I'm going to share my last 3 accounts technical analysis. I saw same pattern over & over again.
If I somehow failed to reach daily target or i am around 50% of the daily target, but no matter how hard I try, staying over there...or my account balance is standing around same zone for longer period..I push harder which eventually drag down the account balance so bad..Freaked out zone.
So from now on, if made 10 pips & even after trying in other session, somehow returning back to 10 pips that's it...I am done for the day..
I don't have any ECN account right now. I will get my account back next after 16th Jan. Having a standard account with spread of 2. But I don't think it will work.
Will come up with an idea in this week.
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Forexmospherian
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Good Morning,
Thank you F for the tips & checked out your post on 30 mins on EJ.
I today I'm going to share my last 3 accounts technical analysis. I saw same pattern over & over again.
If I somehow failed to reach daily target or i am around 50% of the daily target, but no matter how hard I try, staying over there...or my account balance is standing around same zone for longer period..I push harder which eventually drag down the account balance so bad..Freaked out zone.
So from now on, if made 10 pips & even after trying in other session, somehow returning back to 10 pips that's it...I am done for the day..
I don't have any ECN account right now. I will get my account back next after 16th Jan. Having a standard account with spread of 2. But I don't think it will work.
Will come up with an idea in this week.
Morning Sun
Ideally you need your ECN account - especially for scalping but meanwhile with your standard account are your spreads to high for the EJ / EA / GU - ie over 3 pips plus ?
If they are just set up a demo to get your confidence back - as that's what you need atm - you are letting your mind go far too negative and unfortunately its then coming out with poor trades and your mind is not able to focus properly at your rules and your disciplines.
its all over come able - it wont just change in 5 mins - but you have to have confidence in your trading ability - and so we need to get you proving to yourself that you can make a row of good trades - with only the occasional bad ones - rather than what's happening atm.
If you do try a demo for a week or 10 days - just notice how you change - and then ask yourself why??
Regards
F
Thank you F for the reply,
This is the current spread on following pairs:
EA is untouchable. EJ & GU is still ok.
Ok, will get back to demo until I get my next ECN.
To make the demo feel more like a real, will trade with $100 per pip on $3000 account.
Regards
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Linear Regression Forecast Indicator (LRF)
From the begining I have been doing a mistake about Linear Regression Line. Mr. F uses Linear Regression Forecast Indicator which has different formula than Linear Regression Line. That's why our settings was very different, so as the curves.
This is the actual formula :
LRF = Regression(MA(PRICE, Z), X) + Slope * Y
Which is combination of Linear Regression Line & Integral of Linear Regression Slope.
So based on that, little updating the "All averages Indicator" I recoded the LRF indicator..I am not expert...but this one works with proper calculation.
But its bit slower as the calculation done with many steps.
If anyone interested, I just shared.
Regards
From the begining I have been doing a mistake about Linear Regression Line. Mr. F uses Linear Regression Forecast Indicator which has different formula than Linear Regression Line. That's why our settings was very different, so as the curves.
This is the actual formula :
LRF = Regression(MA(PRICE, Z), X) + Slope * Y
Which is combination of Linear Regression Line & Integral of Linear Regression Slope.
So based on that, little updating the "All averages Indicator" I recoded the LRF indicator..I am not expert...but this one works with proper calculation.
But its bit slower as the calculation done with many steps.
If anyone interested, I just shared.
Regards
