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Masterrmind Aug 12, 2019 8:48am | Post# 581

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Gold [M5]

Bias is long but I'm being stubborn and wanting price to meet my terms (ie closer to the 1500 handle for a long).
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Masterrmind..............

Masterrmind Aug 12, 2019 8:56am | Post# 582

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Gold [M5] Bias is long but I'm being stubborn and wanting price to meet my terms (ie closer to the 1500 handle for a long). {image} Masterrmind..............
Nice bearish bar now so lets see if the bears can get price down to my level.
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Risk is taking the long and having the bears continue with their run down the chart but at this stage I think that's unlikely although possible.

Often I like to make an entry after a favorable M5 candle close but the negative to this is that entry price is not as low as I might like and in fact in some cases it might mean that I simply do not take the trade based on risk and missed opportunity.

I'll be looking for some 'confirming' PA in my ZOI.

Masterrmind.............

Masterrmind Aug 12, 2019 9:09am | Post# 583

{quote} Nice bearish bar now so lets see if the bears can get price down to my level. {image} Risk is taking the long and having the bears continue with their run down the chart but at this stage I think that's unlikely although possible. Often I like to make an entry after a favorable M5 candle close but the negative to this is that entry price is not as low as I might like and in fact in some cases it might mean that I simply do not take the trade based on risk and missed opportunity. I'll be looking for some 'confirming' PA in my ZOI. Masterrmind................
1500 long for those traders who want it.

Masterrmind.............

Masterrmind Aug 12, 2019 9:10am | Post# 584

{quote} 1500 long for those traders who want it. Masterrmind.............
Small win taken.

Masterrmind.............

Masterrmind Aug 12, 2019 9:13am | Post# 585

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Gold
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Masterrmind..............

Masterrmind Aug 12, 2019 9:28am | Post# 586

Good trading, that's all from me tonight.

I'll start applying full setups in the coming days with trades having either full stops or most of the full targets.

Traders have asked me why I simply do not continue to scalp the market and continue to build the account.

My response is that, I do not wish to trade a scalper type approach over the longer term although I can trade it at a consistently high level.

I use it to generate a 'buffer profit' so in my case this is now at about 1K of buffer profit.

By trading 1 Lot entries across the majors this gives me about 100 pips of SL that can be used on various setups.

If you notice my setups they are mostly full type setups for the intraday but I take only a handful of pips and close out.

As profit grows traders will start to see trades that are left alone for longer periods of time throughout the trading day (trades closed daily unless significant profit has been locked in).

Masterrmind.............

TradeMinim Aug 12, 2019 11:29pm | Post# 587

TP on Gold, waiting for more bullish price action to unfold. Holding for a retracement to enter the wave. Trade safe

Masterrmind Aug 13, 2019 8:07am | Post# 588

Short CHFJPY

Masterrmind.............

Masterrmind Aug 13, 2019 5:26pm | Post# 589

Short CHFJPY Masterrmind.............
First 2 losses, one at about 5% and the other at 3%.

Ensured that Initial capital remained preserved meaning positive gain showing at just shy of 2%.

However down about 6.3% this month.

Plenty of time left in this month to effect full recovery of the drawdown.

Looking forward to the next bout of trades.

Masterrmind......... ☺

TradeMinim Aug 14, 2019 12:25am | Post# 590

{quote} First 2 losses, one at about 5% and the other at 3%. Ensured that Initial capital remained preserved meaning positive gain showing at just shy of 2%. However down about 6.3% this month. Plenty of time left in this month to effect full recovery of the drawdown. Looking forward to the next bout of trades. Masterrmind......... ☺
Normal for draw-downs, just part of the process. Trade safe

vijiragavan Aug 14, 2019 12:31am | Post# 591

{quote} First 2 losses, one at about 5% and the other at 3%. Ensured that Initial capital remained preserved meaning positive gain showing at just shy of 2%. However down about 6.3% this month. Plenty of time left in this month to effect full recovery of the drawdown. Looking forward to the next bout of trades. Masterrmind......... ☺
why arent you using stoploss? atleast somewhat wide..

Masterrmind Aug 14, 2019 4:10am | Post# 592

{quote} why arent you using stoploss? atleast somewhat wide..
Both SL and TP are used ... just not shown.

Masterrmind.......

Masterrmind Aug 14, 2019 4:40am | Post# 593

Long on Gold ...

Masterrmind .........

Masterrmind Aug 14, 2019 6:28am | Post# 594

Long on Gold ... Masterrmind .........
Closed out 1 trade on Gold erasing one of the previous losses ... now to work on recovering from the other loss.

Masterrmind.........

Masterrmind Aug 14, 2019 8:16am | Post# 595

{quote} Closed out 1 trade on Gold erasing one of the previous losses ... now to work on recovering from the other loss. Masterrmind.........
After the 2 losses on the CHFJPY pair a full recovery plus some has been made after applying a Buy Stop strategy on Gold.

Onward and upward !

Masterrmind.............

Masterrmind Aug 14, 2019 8:19am | Post# 596

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{quote} Normal for draw-downs, just part of the process. Trade safe
Absolutely !

The purpose should never be to expect 100% execution rather ones ability to recover any episodes of DD in a timely manner.
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Good trading,

Masterrmind.............

Masterrmind Aug 15, 2019 8:04am | Post# 597

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Gold [M5]
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Masterrmind.............

Masterrmind Aug 15, 2019 8:08am | Post# 598

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Gold [M5]
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Masterrmind.............

Masterrmind Aug 15, 2019 8:14am | Post# 599

High Impact News !

Masterrmind............

Masterrmind Aug 15, 2019 8:23am | Post# 600

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Silver [M5]

Long or Short ??
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Masterrmind.............


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