Very good TE 
Try don't lose pants never...
- #462
- Dec 23, 2017 10:04am Dec 23, 2017 10:04am
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
PVSRA
- #465
- Dec 23, 2017 12:52pm Dec 23, 2017 12:52pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
{quote} If you are implying "I" want then your presumption is completely wrong, I don't need his help. Don't get personal with your distorted comments, stick to the point of discussion pls. This is a trading forum and it's about trades, isn't it ? Followers of profitfarmer benefit when they look at his trades, isn't it ? In profitfarmer's earlier post, he was musing about posting swing/ position trades - {quote} I was merely encouraging him to do exactly that for the benefit of his followers as an extension of his mentoring work which he has already...
it is pure swing trading, as i like it, from the H4 and H1 chart.
https://www.forexfactory.com/showthr...7#post10590037
so, went really unnoticed. in comparison, my car's photo got also 3 likes, far from the actual trading.
but here is the real deal:
there was talk about prop and other trading. for those deal, i stick mainly to one and one method, that is scalping, the reason being that for me and investors appeal the idea that i dont carry trades overnight or weekend, 99.5% of the time.
due this reason most of the time i pass on the actual swing trades. i do take scalp trades from same entry, but with very different targets, and short holding times, preferable measured in minutes.
but lets dig into a bit to this trade, the example, as this topic is interest me, and it is quiet time here, so why not
so, the chart is above...
i think the reason for entries are clear for swing. i cant add CSM, but just believe me, that was also supportive of me.
even though i didnt take the swing trade, for the mentioned reasons, i made a chart for you, marking all my scalp entries that day on EurNzd.
something to keep in mind: most of my trading falls between 15:00-18:00 broker time. apart from few exceptions, like late high impact events, i am not looking to open new trades after 18:00...but dont just take my word for it, myfxbook has a nice stat section too; attached.
i think it is easy to see where most of my entries concentrated. if someone bother to look, there is lots of similarity in the same chart on H4, H1 and M5...
but likely the forum post examples wont go beyond this one in explanation. if i go more into details, what and why, i am afraid my nice, quiet little journal thread will become like one of those system threads, and will have to repeat countless answers to noob questions, else i would be the bad guy.
as mentioned, i have a TE, visible, live, real. entries are listed there. most are based on very similar setups one way or another.
Xmas holiday is here, a good homework to check few out?
for example this month was 282 entries...also equity SL came into play. also full recovery to HWM. a roller coaster. sort of.
but few things to consider: too many entries month by month to be all random. too low drawdown to discard as horrible MM. decent enough return to pass on as minuscule.(if looked in a realistic way). not a fake broker. a sort of mid-term history length, not only few days. relative low monthly return deviation.
the journal's goal is to show that it is possible to build a good enough track record, and possible to go full time without really large amount of funds to start with.
there is always, always another trade!!
- #466
- Dec 23, 2017 1:05pm Dec 23, 2017 1:05pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
I think this is the most valuable thread in FF for the ones looking to follow a similar path to that of PF. Aside from the people searching for a complete trading system, there is a group that already has developed (or is working) their own and can appreciate more the "journey" itself, the psychological aspects, the tips PF gives about risk management, how the week progresses, how he handles DD, etc.... Thank you PF for sharing your journey, I wish you the best for the coming year.
i think you grasp the main idea.
there is some focus on a specific path, from hobby trading toward full time trading.
there is always, always another trade!!
- #467
- Edited 1:20pm Dec 23, 2017 1:10pm | Edited 1:20pm
- Joined Sep 2013 | Status: Trader | 1,209 Posts
- #468
- Dec 23, 2017 1:58pm Dec 23, 2017 1:58pm
- | Commercial User | Joined Aug 2014 | 3,922 Posts
{quote} Thanks for the detail reply, I appreciate it. I did look through your individual trades. I recognise they were mostly swing trades but peculiarly you exited positions rather quickly which makes me wonder the reason why you do that, now I know. If you are game for constructive feedback to mull over, here's one. Look at the duration of your winning trades verses your losing trades, the difference is there. And that single large loss, that has to be the largest volatility you traded against and if I'm not wrong there's an earlier red news release...
for some just cant be prepared, mistakes can happen, i can enter trades early, stay too long to miss my chance to exit...
for this reason i promote the idea of equity SL.
when things seem to get messy, it works as a system over ride, takes out the hopes, wishes, prayers with a simple solution.
before that point however i have all the freedom to do whatever i want to, scale in and out as i wish, etc.
this works for me.
often tempting to stay in, and this 1st Dec case was also very near the turn where i had to get out. had the feel, but had this rule.
didnt regret, cos things could spiral quickly down to -20% or -40% or whatever, if i am still misjudging the situation.
and that is always a possibility.
after all, if i am hitting my stopout point, i already had misjudged, hadnt i?
taking a loss is bad, but not having equity to trade is worst.
it is like you running a restaurant...one thing that some food spoils, another when the building burns down!
before August, i traded mixed strategy on the account, once started to manage funds made the decision not to mix things. so, from there on scalping only.
myfxbook stat goes the last 200 entries...attached.
it does however miss a point: i am not looking to have a very high win% ( this month 68%). i am looking to make $$$. for that reason, i am likely to take some of the total position as a loss the same time the other part(s) win, without a second thought, especially if more time in the trade is involved.
the average time in trade from 1st Aug: 38 min., that is about right, as myfxbook shows, the majority last less than 15 min, my preference for sure.
OK, plenty stat for today!
there is always, always another trade!!
- #472
- Dec 25, 2017 1:47am Dec 25, 2017 1:47am
- | Commercial User | Joined Aug 2014 | 3,922 Posts
there is always, always another trade!!
- #474
- Dec 25, 2017 7:28am Dec 25, 2017 7:28am
- | Commercial User | Joined Aug 2014 | 3,922 Posts
PF, good point. I remember a friend of mine who works for a hedge fund; does not automate his strategy in purpose; so they don't steal his intellectual property (i.e. secret trading formula). in the world of hedge funds; it's a dog eat dog situation. sometimes it is better to keep the secret sause in your head.
( in other word: there is no secret here. the thread by now has plenty enough for someone with basic reading and comprehension to understand it.)
there is always, always another trade!!
- #476
- Edited 8:03pm Dec 25, 2017 7:48pm | Edited 8:03pm
- | Joined Jan 2015 | Status: Trader | 3,404 Posts
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