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Only losses

  • #1
  • First Post: Dec 8, 2017 5:39am Dec 8, 2017 5:39am
Aren't you done with all the wannabe traders posting winners and winners ?

Feel free to post only losing traders. Posting losing trades will help you understading why it went wrong and how to "prevent" it next time

If you want to post winners, stick to the eurusd thread where all the elite traders are making billions everyday
COT: The precious data ignored
  • #2
  • Edited 6:46am Dec 8, 2017 6:09am | Edited 6:46am
ROFLING. Excellent initiative.


Bought GY @ 152.52 will soon be a loss if valid cross 152.24 in M1.
Don't be smart. Be rich.
  • #3
  • Dec 8, 2017 6:40am Dec 8, 2017 6:40am
Actually it is a pretty smart idea. The line that separates good from bad traders it's how they manage their losses. Wins can be obtained easily and managed even easier.

Should we just post the loss itself and explain where it whent wrong or explain a bit about how we trade also?
  • #4
  • Dec 8, 2017 6:43am Dec 8, 2017 6:43am
Honesty is the key issue, imho. If a trader posts 'winners' which are really not winners and hides their 'losses,' they are being deceptive and they would not get much real help from better traders on a forum such as this. They would fail to grow or improve as a trader.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #5
  • Dec 8, 2017 7:07am Dec 8, 2017 7:07am
Today GU. I was expecting a reaction from the volume base marked, price went straight to SL. Normal loss or my fault?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 39 KB


It is most likely my fault, since I know that when price already washed out liquidity like this, the probability of a tradeable reaction is low, knowing this I decided to take the trade anyway. Dumb move. Result: -0.50% on equity, unstable state of mind for the rest of the day, hence not trading the rest of this session.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 39 KB


May be if I force myself to post when I do this things, I'll stop doing them.
  • #6
  • Dec 8, 2017 7:07am Dec 8, 2017 7:07am
What a great idea, here is a losing trade from this morning.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5.png Size: 63 KB
  • #7
  • Dec 8, 2017 7:18am Dec 8, 2017 7:18am
Quoting DexterMorgan
What a great idea, here is a losing trade from this morning. {image}
I think a little explanation would be helpful to understand the logic behind the trade, where it went wrong and if something could have been done different.
  • #8
  • Dec 8, 2017 7:19am Dec 8, 2017 7:19am
Quoting maximinus
ROFLING. Excellent initiative. Bought GY @ 152.52 will soon be a loss if valid cross 152.24 in M1.
Done.

May this thread have a long and prosperous life.
Don't be smart. Be rich.
  • #9
  • Dec 8, 2017 7:26am Dec 8, 2017 7:26am
Quoting Whikka
Actually it is a pretty smart idea. The line that separates good from bad traders it's how they manage their losses. Wins can be obtained easily and managed even easier. Should we just post the loss itself and explain where it whent wrong or explain a bit about how we trade also?
Do as you like mate, you can mention why you took it, and how it went wrong. Reviewing why it went wrong and hearing explanations from other traders may prevent you from doing the same mistake next time

We all have different strategies so it may not be easy to understand why you took it, but based on our different stategy and trading style we could have a view as of why it went wrong

Only losers will help you being a better trader....Not winners
COT: The precious data ignored
  • #10
  • Dec 8, 2017 7:28am Dec 8, 2017 7:28am
Quoting Whikka
{quote} I think a little explanation would be helpful to understand the logic behind the trade, where it went wrong and if something could have been done different.
I was anticipating a breakout of this range and aiming for 1000 pips, please tell me how to avoid these losses ;-)

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5.png Size: 63 KB
  • #11
  • Dec 8, 2017 7:33am Dec 8, 2017 7:33am
Quoting DexterMorgan
{quote} I was anticipating a breakout of this range and aiming for 1000 pips, please tell me how to avoid these losses ;-) {image}
Don't expect breakouts before major events ;-)
  • #12
  • Dec 8, 2017 8:13am Dec 8, 2017 8:13am
Quoting DexterMorgan
{quote} I was anticipating a breakout of this range and aiming for 1000 pips, please tell me how to avoid these losses ;-) {image}
And aiming 1000 pips out of a 5mn doesn't look right
Check daily if you do that

Breakout are usually clear when a trend is strong..but AUDUSD looks like a mess
COT: The precious data ignored
  • #13
  • Dec 8, 2017 8:57am Dec 8, 2017 8:57am
losing is part of the process

it's all about managing your losses and maximizing net profit
Don't Worry Be Happy
  • #14
  • Dec 8, 2017 9:05am Dec 8, 2017 9:05am
Quoting kuroro001
{quote} And aiming 1000 pips out of a 5mn doesn't look right Check daily if you do that Breakout are usually clear when a trend is strong..but AUDUSD looks like a mess
AUD/USD is in a down trend and the daily chart shows that you can sell and ride the trend but you need to have a wide stop behind the key levels to not be taken out by random noise or a pull back.

If your stop is too close, then you can get taken out and the trend will still continue after a short retrace or random noise.

The pair is now around 0.753 and the next target is 0.75. After, it can go down to 0.74. But, it can still retrace to 0.76 or 0.765 and then come back down. So, the stop needs to be wide.

Example of noise was the NFP report today and the pair spiked towards 0.7530 before stalling. It can still go higher but I don't think any move up will be sustained.
Don't Worry Be Happy
  • #15
  • Dec 8, 2017 10:08am Dec 8, 2017 10:08am
I'm always testing various methods, as most of us do.

My question would be, "Why not Show your absolute Worst testing result, and go backwards"? Trade the opposite.
  • #16
  • Dec 8, 2017 10:16am Dec 8, 2017 10:16am
You just timed it wrong, no big deal. It's not a total loser until it is. I'm not trading GU but I have an interest of Demand at the level it's at now. 1.336-1.337. Then you must take in other factors. Today is Friday... Momentum kind of fades soon. A trade like this, you can misfire multiple times with good RR because IMO, this looks like a big pip-er. Could be a 200.. pip-er. Look for another entry Monday...

Quality levels on a chart are just areas of interest, reactions to them happen because of other factors. Figure that out and you'll have better entries. Sometimes they react before your line and sometimes they dip down deep below your line. Why? Don't abandon your levels, they may be spot on, but your timing was off. Focus on the timing of the desired reaction around your level. Hint, it has nothing to do with the chart.

Quoting Whikka
Today GU. I was expecting a reaction from the volume base marked, price went straight to SL. Normal loss or my fault? {image} It is most likely my fault, since I know that when price already washed out liquidity like this, the probability of a tradeable reaction is low, knowing this I decided to take the trade anyway. Dumb move. Result: -0.50% on equity, unstable state of mind for the rest of the day, hence not trading the rest of this session. {image} May be if I force myself to post when I do this things, I'll stop doing them.
SPC * Swollen PocketZ Crew!
  • #17
  • Dec 8, 2017 10:28am Dec 8, 2017 10:28am
I don't think the idea is a loser.... I would keep an eye on this Monday from London on... You never know... Definitely a bargain...

Quoting DexterMorgan
{quote} I was anticipating a breakout of this range and aiming for 1000 pips, please tell me how to avoid these losses ;-) {image}
SPC * Swollen PocketZ Crew!
  • #18
  • Dec 8, 2017 10:31am Dec 8, 2017 10:31am
As you can see my te , life isnt easy .

I think that usd Will start gaining power because its fed main objective during this Next years and as a european i can tell that europe economy is near breakdown.
BCE cannot stop qe or raise rates . Not if they want economy heals.
But it may be a play from eu to finally make a fiscal policy common to all eu countrys .

This os what i think , but future Will tell
  • #19
  • Dec 8, 2017 10:41am Dec 8, 2017 10:41am
This is an excellent idea for a thread. Kudos to the op. Here's my contribution for the week:
Went long EUR/USD at 1.1820, got sucked into a spike on the 15m. Doubled down at 1.1800, thinking I could just dump the first one at break even. Could have got out with a 1% loss, but decided to let it ride. Result: 5.5% drawdown for the week, including one other loser. My take on what went wrong: I knowingly went counter trend thinking it has to turn around somewhere. It's like standing in front of a loaded freight train, hoping it will stop in time. Anyway....I'll try to post charts or at least more details on future posts.
  • #20
  • Dec 8, 2017 2:10pm Dec 8, 2017 2:10pm
Quoting VEEFX
No one will share their hard work so here's my 50+ EXIT rules which took me over a year to implement in my automation. Knowing when to Exit is the toughest part of trading and THE holy grail of trading (imho... I am sure others will disagree) :-) double PositionExitManager(string arg_exit_criteria, string arg_TradeID, int arg_direction ) { if (arg_exit_criteria == "CloseAllSell-InProfitWithNoSL") { if (arg_exit_criteria == "CloseAllBuy-InLossWithNoSL") { if (arg_exit_criteria == "CloseAllSell-InLossWithNoSL") { if (arg_exit_criteria == "CloseAllSellPositionsAtMTFReversal")...
"Knowing when to Exit is the toughest part of trading and THE holy grail of trading "
true
WaBaS Where are Buyers and Sellers
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