Journey to consistency | Page 30 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Price action - journal - journey to consistency first 100k 19 replies

Profitable consistency. 18 replies

Price of consistency 4 replies

Strategy Tester: data consistency 2 replies

How to evaluate consistency? 21 replies

Attachments: Journey to consistency
Exit Attachments

Journey to consistency

  • #581
  • Apr 17, 2018 9:29pm Apr 17, 2018 9:29pm
Quoting profitfarmer
"I'm having a difficult time finding the balance between these factors, but I will soon hopefully by the end of this month." simplify? (and also give enough time to a new direction to settle down to see clearly what it is or isnt? in the past 5 months there was about a dozen if not more possible direction you "explored"...or maybe it is just my feel, idk?...that would leave any with about 2 weeks period. far from conclusive in any way. demo is free, and can run 2-3-X number side by side if needed. maybe just pick to each a simple approach, let it...
you are right in a way that I explored different paths and different instruments the past 3 years, only the past 5 months were documented here but past 2 months I have traded DAX specifically so jumping from one instrument to the next best thing has officially ended.

I think partly the reason I keep adding things up is because of lack of experience and screen time - before I went live I realized just yesterday that I was trading the gap or retracement that usually occurs prior London open this doesn't always work of course so I ended up losing as soon as I went live. I'm still picking up the pieces putting it all together apart from working up the pattern I want to know the dynamics between gap and how it affects the movement that happens when London opens, connecting the dots so to speak if that makes any sense so I'm not going to make the same mistake over and over again I'm on the troubleshooting phase
...
  • #582
  • Apr 17, 2018 10:28pm Apr 17, 2018 10:28pm
Quoting Piquant
{quote} you are right in a way that I explored different paths and different instruments the past 3 years, only the past 5 months were documented here but past 2 months I have traded DAX specifically so jumping from one instrument to the next best thing has officially ended. I think partly the reason I keep adding things up is because of lack of experience and screen time - before I went live I realized just yesterday that I was trading the gap or retracement that usually occurs prior London open this doesn't always work of course so I...
sorry your live experience started with a loss.
but what i meant to say anyway was that 1-2-few losses doesnt mean what you are doing wrong.
or not necessarily. too soon to tell.
if that makes sense, often the mistake one makes all over again and again is not leaving time to a system to work ( or a trade to work, i can improve a little on that department myself!), and jumping to troubleshoot too soon.
not telling it is the case with you, just telling that a possibility.
5 years an awful long time to prepare on demo. likely enough to come up something that looks good.
live trading is very different, and as much as it hurt to lose, once you ready to accept that some losses will be there and that you cant 100% control their frequency distribution, you can start to execute your plans.
there is always, always another trade!!
  • #583
  • Edited 12:34am Apr 18, 2018 12:23am | Edited 12:34am
Quoting profitfarmer
{quote} sorry your live experience started with a loss. but what i meant to say anyway was that 1-2-few losses doesnt mean what you are doing wrong. or not necessarily. too soon to tell. if that makes sense, often the mistake one makes all over again and again is not leaving time to a system to work ( or a trade to work, i can improve a little on that department myself!), and jumping to troubleshoot too soon. not telling it is the case with you, just telling that a possibility. 5 years an awful long time to prepare on demo. likely enough to come...
I know what you mean exactly PF !

Always good to hear different point of view as I don't even know my situation 100% for the time being.

You were to quick to spot nevertheless, I tend to be "somewhat" fickle and somewhat is an understatement I'll keep that in the back of my mind!

PS: I'm not losing left and right as I used to and seem to have acquired a bit of a skill to recover the loss back, I'm already feeling somewhat optimistic about the future , and somewhat is an overstatement maybe kind of suits me better. Uncertainty prevails still does it ever go away ? I don't know.
...
  • #584
  • Apr 18, 2018 2:53am Apr 18, 2018 2:53am
Quoting Piquant
{quote} I know what you mean exactly PF ! Always good to hear different point of view as I don't even know my situation 100% for the time being. You were to quick to spot nevertheless, I tend to be "somewhat" fickle and somewhat is an understatement I'll keep that in the back of my mind! PS: I'm not losing left and right as I used to and seem to have acquired a bit of a skill to recover the loss back, I'm already feeling somewhat optimistic about the future , and somewhat is an overstatement maybe kind of suits me better. Uncertainty...
uncertainty is a constant, not going away
but that doesnt mean we cant handle it in a certain way!
there is always, always another trade!!
  • #585
  • Apr 18, 2018 3:25am Apr 18, 2018 3:25am
Apr 18

-22.7pips

I'll work towards ending the week BE.

Lately I have been entering way too many trades instead of going after the meat today was no exception and when its range bound I risk losing my shirt glad I did not in all seriousness I should learn from my mistakes and get rid of these bad habits. After I'm thinking my 1 trade a day policy was fit for me !

Since I am fickle and generally impatient ranges like these can literally kill me or my account. I can't mindlessly buy and sell like a gambler. Or else I better give up now...

From tomorrow and onwards 1 trade a day for me, and take the meat !
...
  • #586
  • Apr 18, 2018 3:57am Apr 18, 2018 3:57am
If you want some consistent results my humble advise to you dear to stick with one pair. And don't over trade and trade size atleast 3%. Tp.
Regards..
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -299
  • #587
  • Apr 18, 2018 4:09am Apr 18, 2018 4:09am
Quoting Piquant
Apr 18 -22.7pips I'll work towards ending the week BE. Lately I have been entering way too many trades instead of going after the meat today was no exception and when its range bound I risk losing my shirt glad I did not in all seriousness I should learn from my mistakes and get rid of these bad habits. After I'm thinking my 1 trade a day policy was fit for me ! Since I am fickle and generally impatient ranges like these can literally kill me or my account. I can't mindlessly buy and sell like a gambler. Or else I better give up now......
From my experience, if you are on the wrong path, trading less will not help, in fact it will penalize you because it will take to you longer for you to realize if what you are doing fits you or not.

Instead, I would trade the smaller lot possible until I'm consistent, that wouldn't decelerate your apprenticeship, just how your account grows or shrinks.
Opening a cent account and trading micro lots can also help...

Good luck
Simplicity is the Ultimate Sophistication.
  • #588
  • Apr 18, 2018 8:03am Apr 18, 2018 8:03am
Quoting mohsinali
If you want some consistent results my humble advise to you dear to stick with one pair. And don't over trade and trade size atleast 3%. Tp. Regards..
I appreciate your feedback ! mohsinali

I trade the smallest lot for DAX in % today I'm down -0.14% and for the year -1.16% but like broke trader suggested if I'm doing something wrong it will only be a matter of time maybe 3years before I go bust and blow my account.
...
  • #589
  • Apr 18, 2018 8:06am Apr 18, 2018 8:06am
Quoting broketrader
{quote} From my experience, if you are on the wrong path, trading less will not help, in fact it will penalize you because it will take to you longer for you to realize if what you are doing fits you or not. Instead, I would trade the smaller lot possible until I'm consistent, that wouldn't decelerate your apprenticeship, just how your account grows or shrinks. Opening a cent account and trading micro lots can also help... Good luck
that makes sense,

I do trade the smallest lot for DAX CFD not futures
at this rate anything bigger than what I am already trading I could lose this account, and I can't let that happen.

Thanks for stopping by !
...
  • #590
  • Apr 19, 2018 3:16am Apr 19, 2018 3:16am
LL but that upward thrust I'll only buy when it goes beyond that R1 and bounce back for a retest for now the picture remains bearish but another HL and HH bounce back at R that's a game changer.

I've added up 3MAs <thank you> Jupiter and it really does make a difference I better see the directional bias covered my losses so I'll be taking it easy.

they're only two sides the right side and the changing side!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-04-19 at 16.14.00.png Size: 53 KB
...
  • #591
  • Apr 19, 2018 3:22am Apr 19, 2018 3:22am
looks like now its going to range between these two points.

it could go both ways but selling it on the breakout could be dangerous as it can easily bounce back up to shake off the majority. its either sell it at R or buy it above R at a retest.
Attached Image
...
  • #592
  • Apr 19, 2018 3:28am Apr 19, 2018 3:28am
let's not panic and go long here

it can easily come back down.
I'm playing a bottom on 5m.
Attached Image
...
  • #593
  • Apr 19, 2018 3:31am Apr 19, 2018 3:31am
it's a danger zone
lets not do anything.

looks bullish

-3.5lost on a short.
I sit on my hands.
...
  • #594
  • Apr 19, 2018 4:04am Apr 19, 2018 4:04am
officially looks like a buy now
lets not panic
Attached Image
...
  • #595
  • Apr 19, 2018 4:51am Apr 19, 2018 4:51am
not so bullish anymore.
lower resistance I'll go short.
1h is also looking very short now.
Attached Image
...
  • #596
  • Apr 19, 2018 5:11am Apr 19, 2018 5:11am
this is going to go dreadfully slow

Apr 19

+3pips

lost pretty much everything I gained early in the session.
but progress is still underway.
so I'm not going to cry over it.
today was a challenging day somewhat.
wasn't straightforward like strong trending days.

these kind of days you lose the most
I'm learning I should just sell the range top and buy the range bottom and call it a day early
because usually for ranges to break it takes "a lot of time"
my patience has ran dry.

I did not stick with my 1 entry per day
I probably should starting from tomorrow.
but nevertheless I wanted to hone my skill since I'm trading the smallest lot
I still have a lot to learn
and if I don't trade them I can't have hands on experience.

for this week I'm aiming to end the week BE.
if I survive tomorrow with some gains I think I can accomplish that
and for this month I'm aiming to recover from my DD -1.16% I'll try since I'm now trading the smallest lot and this DD was made when I was trading 1lot it's taking lot longer + I'm still figuring things out but getting better each day.

I don't panic as much or react to every move - MAs are helping me in a big way, I'm learning to use them the right way.
...
  • #597
  • Apr 20, 2018 3:53am Apr 20, 2018 3:53am
Apr 20

+3.7pips

I only entered 3 trades all of them in line with the trend while my profits have shrank I'm improving a lot < to feel the pulse > and to dance along with the dominating force.
...
  • #598
  • Apr 20, 2018 3:54am Apr 20, 2018 3:54am
Apr 16 -Apr 20

+9pips

call it a day here.
be back next Monday.
...
  • #599
  • Apr 23, 2018 4:00am Apr 23, 2018 4:00am
Apr 23

+2.3pips

it was a lazy start on my part what I've gained nothing to brag about, but over the last few days I've gained so much insight ! that I can't believe I'm flowing along for now (in my mind) so much better than I used to! I no longer depend on mechanical rules, I just follow along I'm also developing a good sense of feel not only when it comes to direction but also entries on top the good old HH HL, LH LL rule again thanks! Franco if you're seeing over the weekends I've also watched wyckoff practical application webinars that Jupiter linked on his journal strangely I feel like the veil that I've been wearing for years have finally been lifted off, and I can see things just the way they are...

I had a short position 10minutes prior London open, I closed it off just at 4pips and see how far it went then London came I again opened another short 15minutes into the session closed it off again at 0.5pips and look far it went I'm kicking myself and banging my head on the wall. Then after the fall I went up back to the breakout zone again closed it off at just 7pips, as we were at a LL I punched it back down again closed it off just 5pips and last position was long it is going up now HL but course this may come back down again but I doubt it the last one could be the only bad position for the day and yet I have nothing to show for. But on the bright side its not all that bad!! I've been flowing along relatively well, I mean compared to how I was doing past 4 years wow, !!

now of course I need to keep those positions going until I see potential support or resistance and change of behavior ! which simply means I need to close positions based off of logical reasons not on emotions and subjective biases!!!

calling it a day here..
I'm going to dance the dance and keep my scores tomorrow !

PS: I never knew I'd "really" enjoy dancing the dance... going with the flow feels so much lighter than fighting the flow and its not a means to an end because I enjoy the dance - my ultimate goal is no longer pips but dancing the dance.. pips will be a byproduct.
...
  • #600
  • Edited Apr 25, 2018 1:33am Apr 24, 2018 3:37am | Edited Apr 25, 2018 1:33am
Apr 24

-13pips
-14pips
-11pips
-8.3pips
-5.3pips
BE

I fought the tape!
I don't know what got into me I wasn't feeling it, or reading the HH and HL s properly.

Enough damage done for 1 day.
But I might keep on trading demo or could trade more since I found out what went wrong.

I read the tape completely wrong!!!
Not going to lie I'd at least would like to end the day BE.

update: feeling the tempo now

update: calling it a day. my confidence took a beating this session and I don't think I can perform as well as the other days where I was trying to end the day above 0 there's always another day will be back tomorrow looks like I need may to cover my DD. I closed my last short at -4pips but its going down now hmmm I'm mentally not there to trade, better stop it now.
...
1 trader viewing now