trendies FTMO Adventure V: Revenge of the RSI

trendie

Legendary member
6,841 1,399
And another!
I am running at -900! I have made myself a mountain to avoid flying into.

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trendie

Legendary member
6,841 1,399
Whats the opposite of "catching a falling knife"?

Is it stepping on a landmine?

I need help with my obsession with shorts.
 
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trendie

Legendary member
6,841 1,399
Well, well, well.
Market fell, sort of.
I was "hoping" for 34,720 as thats where I thought the best level was.
I was within closing for a loss -200£ in total, then CPI hit and market went back up!
So, a mornings work undone by CPI.
Anyway, closed out all positions for a loss today of -783£.
I did manage my way to scalping the odd 50 / 60 pips.
But my Longs were too far up for me to be able to trade the long side.
My hedge came too late, and I was holding around -800 all the time.
Anyway, I attach my trades, and you can see I closed one scalp for around +60 at the 34,740 mark, before CPI hit.

I am happy (sort of), that my losing day is around the same as a winning day.
Ideally should either have bailed the shorts, or hedged earlier on, as I can demonstrate I can snag 6 scalps of 50 / 60 GBP at a time to manage a losing position.

Also: don't be a "dick for a tick", I was looking to close my positions for nett neutral, before I blew it.

REALLY messed up my statistics.
Coulda, woulda, shoulda!
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trendie

Legendary member
6,841 1,399
I must have screenshotted before the numbers got crunched!
Note the trade list remains unchanged, but the daily loss has gone up.
I ma guessing the last 3 trades didnt get updated.
Just being pedantic for clarity.
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IlIlIlIlI

Established member
595 557
I ma guessing the last 3 trades didnt get updated.
From my experience you have to wait up to 10 minutes or until the "reload" window opens, if you want to be sure that the statistics are updated.
 

trendie

Legendary member
6,841 1,399
No trades today.
I think I am still sulking over blotting my copybook!

I watched the market diligently today, watching, and noting the waves of movement, but not trading, from 7:30am - 11:30am, then from 16:00-19:00.

3 days of trading this week,
+853, + 230, - 972.
A nett gain of £100ish on the week. Essentially, treading water this week.
Still, am 1,642£ up over 2 weeks / 5 days of trading.

Still in the game!
Hope you had a great week, banking money, and have a great weekend.
 
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trendie

Legendary member
6,841 1,399
hey T

can you remind me of the basic rules ?

thanks
N
Ha ha ha!! :)

I think it was Mike Tyson who said that "Everyone has a plan until they get punched in the face." or some such.

Yes I know I am ignoring these rules, and I shouldn't. But that's boring.

Hope you're enjoying the lovely weekend.
 
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trendie

Legendary member
6,841 1,399
Wasn't going to trade, so left all day, except couldn't help myself.
Anyway, did the hedging thing, and got lost in managing the pairs,

Total gains (+189, + 109, +123, +197) but a hedge of (-336, -205).
So, +618-ish, less -541, for about a roundabout gain of 70/80-ish.

Then, another pair of (+87, +13) for about +100.
Less costs, +158 day.

A non-day, should have either traded the whole day, or the proper sessions, not the tail end,

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trendie

Legendary member
6,841 1,399
General observations of watching the markets during the day:
01: I have been aware of levels, especially on the tick-charts.
These are fascinating to watch, and see how they hold, and how they break.
The flurry of movement, and the strength with which price moves up or down, with a related sluggish move when going the other way, eg, strong surge up, gentle fallback down, then another impulse surge, etc.

02: I am aware of levels, but still cannot fathom whether I should expect them to hold, or break.
(case in point, my first trade today, (this evening) was a level break, but couldn't tell if it was meant to continue or rally.

03: I have noticed that my signals can be contradictory! I noticed when in an upmove, I get lots of arrows showing OB, and when in a downmove, there are lots of OS signals.
Obviously, I only consider OS signals in an uptrend, and OB signals in a downtrend, but it occurred to me that they might be the forewarnings of a trend change!
Continuous OB means the market is rising, so of course I am going to get multiple OB signals.
And vice versa.
But, it occurs to me that an OB signal may be early signs that a downtrend is running out, and an uptrend is on the cards.
EDIT: if my study shows this as viable, I can use market structure to trigger trades, rather than MAs, since OB/OS is more related to ups and downs, and more reactive to the true market structure, rather than an MA.

Of course. Stochastics, since they signal OB/OS within a predefined certain range, can be seen as dynamic range-breaks.

I have been mulling over (for a few weeks now) that a new trend change is when the second OB signal is higher than the earlier one may be a true signal for a Long, or the second lower OS signal is the trend change and signal for a Short.
Maybe I should Buy the second OB signal! and Short the second OS signal!

But this then reminds me of Swing Trading that I read about so long ago!

04: I have been aware of Round Numbers today. And how price seems to be drawn them, and prices bounce off, or tarry around.

05: I have been aware of how waiting too long at any price to move, my mind starts to question itself about a potential trade. If price is at X, and I think of going Short, of price stays too ong at price X, I statt questioning my decision.
EAs don't have this problem!
 
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trendie

Legendary member
6,841 1,399
Better today.
Morning session, resulted in (+223, -10, + 40), total = +250.

Early afternoon, resulted in the need for aggregated trades.
However, I had a spikey event, and it took 20-30 seconds to close 3 of my trades.
Got spooked by that. But positively. I don't think I profited too much, as I was looking to close out around the 34190 mark, where the initial trade did get closed out for near break-even.
Anyway, (+108, + 3, + 93, +163) resulting in a nett gain of +360£.
The overall drawdown was around 300, so good outcome.
Really happy, as one of my trades, short 34,236 got taken out for +108, then I managed to take a second trade, short 34,227, also closed out, so I made money twice on the same price range.
The 34,194 was the trade that caused the aggregation to happen.

Then, price got really wild. I lost confidence on taking on the US30, as I wondered if I would get slipped, so held back.

So, nett gain today of +608 on 2 sessions.

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trendie

Legendary member
6,841 1,399
No trades today.
Missed the morning session.
And early afternoon seemed dull and narrow range.
FOMC news on the horizon.
Will probably not look for anything today.
 
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trendie

Legendary member
6,841 1,399
Happy. Not happy.

Got slightly impatient. But, at the same time, took multiple positions.
Happy I got good levels for my aggregates. (esp the 34,509!)
Market went my way, and passed the finishing post with a great market fall.

Happy that I am past the Challenge.
Slightly unnerved that the success may have more to do with market moving quickly, rather my skill.
The total drawdown I experienced was around the 450/500 level.

If the market had fallen more slowly, I suspect I would have closed out my positions for around 200£ wins each. Instead, the tumble allowed me to take more profit. I feel I took about 400 / 500 more than I would have had the nerve to hold on for, if market fell slowly.

I am in the enviable position, to play out the next 2 days at 0.1 lot!

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