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Thread: To the moon!

  1. #11
    Quote Originally Posted by ;
    And the same thing. Maybe the stops were tight, at least the one on the EUR/AUD. I'll have to change this a little for next week. Overall it moved quite bad in the end... I figure it will take a while to become profitable. picture picture
    I know that the concepts state average in is bad vs. pyramiding is great....and I believe concept has all of the good purpose, and works great on every charts(especially hindsight, until it doesnt).

    We have a proverb in my language: the road to hell is paved with good intention

    so, that good intention can function as pyramiding, or my advice here, you need to decide. . .even both can both be wrong.

    but here's a few observations:
    on the charts you seem to get into a bit late (GU, and some previous ones too)... this could be because of your own spread. I dont want to debate between brokers, but provided you in Germany, you have options. Right now both GU and EA has in my own chart a floating 0.3-0.7 pips spread approx....vs your 2 pips!! And add to that the fact that Oanda widen here and there, in which it seem to match them. When you lose, they knowingly earn, should be first to not tip their particular hand. Don't have any doubt, they do, that's part of the MM model!

    Even if trying to snare, your 2 entries are too near, and in a turn it considerably accelerate the speed of losing money.
    Using the not right averaging in, and buying a few pips bellow the first that second entrance, would give you a chance to put exactly the same $ risk SL also somewhat lower, and providing you maybe that needed little breathing space to have an opportunity to survive the first test back in the breakout.

    And finally, to not discussion fashion, cos I am not per se trading breakouts much anymore, but the reverse. However it relates at a certain point to earn money these breakout have to neglect. So, technically I have to get a good eye for whether it is likely to do so to decide.
    For me, the larger the run up inside the afternoon, or a time period, the more likely that the fresh breakouts get quicker exhausted, tired, and willing to neglect.
    I'd based on these details likely would presume the initial one-two breakout following a narrower range has better chance to be successful. . .and for the reason I prevent fading those, cos I'm likely to lose money on them.

    Finally, it is keep trying until you get it right. Or learn after a time period what isnt likely to work and move on to change. time will tell.

    I still want your screen photo would incorporate the chart with the price at a better picture.

  2. #12
    I had also considered the pyramiding was occurring too soon, but like I told you, I was not successful with it. I am basically trying it but I have problems with it. It's good advice to try to do it later I suppose. In some of the trades it has worked quite well and in many others it has led to disaster.

    Concerning the brokers, I agree with you, the spread is taking a lot. I joined Oanda due to the time I opened the account it was the broker with the smallest spreads that allowed for microlots. I do not intend to stay at Oanda for long, but I want the broker I use to allow microlots for me to have the ability to create the egy without dropping big amounts of money. Once I start scaling up I'll try to obtain a broker. Yours sounds really very good.

    But most of the entering too late which you see is much more associated with me needing the preceding maximum to be overcome. What I could do is linking earlier this maximum is conquer and double the position dimensions. The averaging you mention sounds risky, but it will be much more or less equivalent to doubling the position. The breakouts I try to trade are supposedly fresh, because I trade the hours of their european markets. I suppose this is more difficult to calibrate when you introduce other currencies such as the AUD at precisely the time window. Trying to grab them fresh is the main reason I avoid trading after 1.

    What's apparent is that something has to change. I can work on it this weekend and will go. Thank you I'll take it into consideration that is good. But remember I'm just starting. It will take a long time produce the fantastic eye and to obtain the appropriate way. That's why for the moment I trade a tiny account, so I do not need to fret too much about these lost euros...

    PD: As you're my only real hitter, I'll gladly incorporate the price bar from now on

  3. #13
    Now I tried to get forward to prevent entering overdue. I must have postponed that entrance but got overconfident. The results were bad, because I had decided to put the stop loss away to give it some room to check several times to the support if necessary. Things like this make me need to be playing with the contrary game, so far I seem to be really great at detecting when a service won't be broken and my stops are always place precisely where the price will resume the preceding direction


  4. #14
    Since I tried to do exactly the same as before , now was quite bad. I've been thinking of methods to fix my trading and I've produced something. One of the huge issues I encounter is by leaving a trade. I had been using stop loss and take profit since I really couldn't find a good way to do it manually. Countless of the trades I took were winners for a little while, just to end up turning me. I'd be left viewing the screen watching of the profit evaporate and turn into losses. What I have thought of now is simply a exit egy for my own trades.

    I have the inspiration for this from Profitfarmers use of the RSI. Basically we are trying to ch moves. In an perfect world, I'd trade the breakout, money within my money and only as I get out, Profitfarmer would get in and ride the change. But how to understand when the price is losing momentum? It can be accomplished just by looking move, however as sceptical as I am concerning the use of indiors, the reduction of momentum is nicely represented by some of them. Among these that reflects it is your RSI. So my egy will be to attempt to ch the big surge in momentum after a breakout and then exit the trade whenever the momentum is lost and later. In case the price does not move in the expected direction, the trade will be exited immediately, losing the disperse and very little more in the procedure (I still need to give it a margin to allow it to move)

    I will keep everything else from my trading egy undamaged, but I can implement this little alteration to it. To outline:

    - As the profit target will be much nearer and trades will not last as long, I'll double the position size with the intent of maintaining the risk profile undamaged.
    - concessions will be exited the moment the RSI moves out of the oversold/overbought areas on the 5M chart.

    Now I have to adjust the parameters so the amounts work on a 5M chart. Let's see how that goes.

  5. #15
    Quote Originally Posted by ;
    Today has been also quite bad, because I was trying to do exactly the same before. I've been thinking of ways to repair my trading and I've come up with something. One of the problems I encounter is by leaving a trade. I was using stop loss and take profit because I really couldn't find a fantastic way to do it manually. Countless were winners for a little while, only to end up turning me afterwards. I'd be left watching the screen watching all the profit evaporate and become losses. What I have thought of...
    it is crucial to test out new ideas.
    The justifiion to get out when the momentum start to fade away appear to be a fantastic precaution, as it about 80-85% of the time appear to result some reversals.
    Probably some trial and error, but M5 I find responsive enough to have a fantastic predictive value without much lag, or many fakes.
    You may also find CSM helpful to your breakouts.

  6. #16
    CSM? Google tells me that this may mean currency grid. If this is so, I used something similar some time ago I could recycle it. It was just an indior telling me that the trend on individual currencies instead of currency pairs.

    I would honestly just jump ship and start trading like you do but it seems quite hard. I'd say your style of trading requires a lot of experience, since you want to be convinced that the market will quit doing what it's doing to begin doing something different. The temptation is there, but I think I'll stick to simpler methods for the second...

    Anyway, trial an error it is, indeed. Tomorrow I'll need to see the execution goes. Thanks for the information, as usual.

  7. #17
    Quote Originally Posted by ;
    CSM? Google informs me that this may imply currency grid. Maybe I could recycle it, if so, I used something similar some time ago. It was just an indior telling me that the trend on currencies instead of currency pairs. I would honestly just jump ship and begin trading as you do but it seems quite hard. I would say your style of trading requires a lot of expertise, since you need to get convinced that the market will quit doing what it's doing to begin doing something else. The temptation is there, but I think I will...
    google is smart.
    Will send you a PM later...

  8. #18
    Well I have been absent for a while but it had been my brother's wedding and I didn't have that much time to post anything. Today has been an interesting day. I made some progress and also some mistakes, but I couldn't pay that much attention to the daily trading as I was desperately attempting to prepare a crypto-currency portfolio. It is only a move with some money to attempt to obtain a fast and easy profit, but it is totally separate from my trading. The goal is still to become profitable trading forex, as I don't think profiting from a bubble has much to do with making a living.

    Anyhow, tomorrow I shall resume posting charts as normal.

    I transferred to another broker by recommendation of Profitfarmer to attempt to keep the spreads small. It seems to be running well.

  9. #19
    Today went well, particularly the USD/CAD commerce went very well, considering it had been way too early for the USD or the CAD to be moving much.



    Unfortunately I awakened a commerce on the EUR/USD first in the morning and basically all my attempts were to return from that. Additionally, I exchanged the later and this time it did work but I was very tired so I did not try to ride it and left it .



    And I also exchanged the EUR/CAD, which also went well:



    I'm really enjoying the mini terminal window which is included with IC Markets. I've setup the template for an order to go into a trade and a one to add into a position and also my desperate ultra-fast clicking has been reduced. I wait and will just chill hovering the button to click on the activate.

  10. #20
    The day started fairly nicely with a very straightforward GBP/CAD trade that shut fast.



    Subsequently I decided to continue the ride but on the GBP/USD, as it had been freshly breaking from resistance and had lower spreads. This lasted for a little while, as I had been entering and departing attempting to where it would take, to ride . I took some loses in the procedure but ended convinced:



    since I was driving the GBP/USD I got an alarm on the USD/CAD, and so I decided to open a narrow place allow it to develop. I couldn't supervise it, since I had been concentrated on the GBP/USD but it went nicely.



    I must confess however I was weak. Soon after the GBP/USD gave me the previous profit I didn't get out of that place for 8 hours and entered. I was not able to bring a loss after profit. This opening had been done after lots of momentum had gathered so it didn't have many opportunities to succeed. It was an impulsive decision as it appeared to me I was missing on tons of profit. I put the stop loss and decided to play it out as a place trade since the daily chart looked good. This was an conclusion and be quick when I make a mistake, to close and I need to see from the long run. The risk/reward is completely off differently. The idea would be to learn how to avoid mistakes, to not endure them by taking risks.


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