just would like to bring little clarification about the winning rate: my one entry may generate several (on average 4) loser exits, because may close a position in small portions
As Above, So Below
Disliked{quote} My AUDUSD longs, actually. When there is a bounce, I would open shorts positions as hedge. Have done so twice and hence recovered a bit of losses. I have not tried other rescue methods. If AUDUSD retraces to 0.8440, then I will open shorts hedge positions again. News on AUD is bad. Looks like it's a matter of time before interest rate cut.Ignored
I sense a further improvement in my trading. Winning rate is good and I feel more confident. But still make some mistakes resulting in large DD.
DislikedOver the weekend, I gather my thought and wrote my first ever 'Trading Strategy', covering the following 4 scenarios:- Trend Continuation Reversal Anti-Trend Range-bound Breakout Trend I sense a further improvement in my trading. Winning rate is good and I feel more confident. But still make some mistakes resulting in large DD.Ignored
Disliked{quote} that is great my friend, keep up the good work. large DD is a result of of poor money management. there is no reason why a trade must be heavily underwater. trading is more art than science. and do not forget everything you come up with has to be common sense. price movement is unpredictable most of the time, predictable some of the time. nobody can predict the price all the time trading is about the probabilities. losses are inevitable. these must be the pillars of your strategyIgnored
Disliked{quote} Doh...Didn't correctly apply 'Reversal Anti-Trend' entry criteria. Don't like how EURCAD is moving for now even though I believe it will eventually go south.Ignored
Disliked{quote} that is great my friend, keep up the good work. large DD is a result of of poor money management. there is no reason why a trade must be heavily underwater. trading is more art than science. and do not forget everything you come up with has to be common sense. price movement is unpredictable most of the time, predictable some of the time. nobody can predict the price all the time trading is about the probabilities. losses are inevitable. these must be the pillars of your strategyIgnored
Disliked{quote} To mitigate unpredictability and improve money management, I have closed 2 longs & one short, all with no loss. Intention is now to reduce remaining 3 EURCAD shorts down to just 2 positions, then there shouldn't be panic even if reversal does not happen short term. Hopefully EURCAD reversal will play out, tonight !!!Ignored
Disliked{quote} Hiya my friend, how have you been? Just thought I would drop by to see how you are doing Playing the bounces on NZD and AUD have proved fruitful. Jpy pairs had a nasty pullback and unfortunately some of my longs are deep under water, gonna see how this election thing goes this weekend. Just knew it was too good to be true... uptrend all the way should have been more patient and not just jumped in after 200 pips RT lolIgnored
Disliked{quote} this week i dealt mostly with usdjpy, some good and some bad trades as usual, many of us got caught by this deep retracement, few expected that in such strong uptrend... so yes i was buying all this week and yesterday added a few more (but i am not sure if this retracement is done yet) i see that nzd pairs moved nicely recently but i never had a chance trade them... i hope you soon will recover your usdjpy trades and wish you a great weekend!Ignored
Disliked{quote} I am trying something very different now my friend. very bored, so playing around with more fibos. I swear my chart looks like a graphic designer so many lines, arc, etc hahaha xD v tiring setting it all up though, so I decided to just do it for EURUSD pair and see how effective it goes. I am trying to see the possibility of projecting time periods where price x is to be achieved or something or the play range for a certain day (into the future). As long its 80% accurate, I dont mind USDJPY is the beast and tbh I am too tired...Ignored
Disliked{quote} Shitting myself on this EURCAD, rocketed to 1.4433. Seems to me Euro strength is very strange. I suspect Euro is being pushed up and that has something to do with preventing EURCHF from breaking below SNB floor of 1.2000. EURCHF is now only 1.2009 !! My hunch is EURUSD will break recent high of 1.2495 tonight!!Ignored
Disliked{quote} a few weeks ago i was long biased on longer term for EURCAD. euro gaining some against $ and dropping oil prices affecting CAD, we may see some more movements upwards. check out the weekly chart {image}Ignored
Disliked{quote} to be honest i try to refrain myself from talking about the levels, because do not trade them even if i have a bias. considering ANYTHING can happen in markets, i prefer to trade the setups along as they unfold in front of my eyes. also considering i am in scalping mode most of the time, targets like a few hundred pips does not make much sense. talking about uj, yes, there is a retracement in action and i have no clue when or where it ends. but i know that overall trend is up... i have heard about mastering and trading only one pair. this...Ignored