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I'm a noob and need advice on managing a losing trade 28 replies

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I let a Pro Noob trade my account

  • #81
  • Sep 22, 2018 10:45am Sep 22, 2018 10:45am
Quoting tradestar1
Just curious..... Do you know anything about this.... https://www.fxopen.com/en/autotrading-systems/myfxbook
I am using myfxbook as my tradingjournal as well as the TE here on forex factory i have seen a lot of autosystems on myfxbook with 1000dsof % gain but many are tick tests and not live results....I have seen the live results from as low as 3% in a month of the best 3 traders they have too 100ds of % gain i dont know how the deal is you need too read the rules for engagement...But it is soo you can open a live account trew myfxbook and copy 3 traders ore more and all the proffiteble i have seen there are automatic EA`s i have found coupple mixed ones but no manual ones i am sure there are proffiteble manual traders there also but somehow they dont come up when you search for systems ore strategies....It is for all too use you just download the EA from myfxbook put it on a chart and you get a automatic tradingjournal that cant be hacked ore manipulated the total history of your account is there and you cant coustomize the startingpoint like you can with a TE here on FF....Heres a screenshot of my 2 days old account and there is much more information further down on the page....
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You win some you loose some do both with peace of mind
  • #82
  • Sep 22, 2018 4:17pm Sep 22, 2018 4:17pm
hey OddReality , keep up the good job man
  • #83
  • Edited 11:09pm Sep 22, 2018 10:50pm | Edited 11:09pm
Quoting magne999
{quote} I am using myfxbook as my tradingjournal as well as the TE here on forex factory i have seen a lot of autosystems on myfxbook with 1000dsof % gain but many are tick tests and not live results....I have seen the live results from as low as 3% in a month of the best 3 traders they have too 100ds of % gain i dont know how the deal is you need too read the rules for engagement...But it is soo you can open a live account trew myfxbook and copy 3 traders ore more and all the proffiteble i have seen there are automatic EA`s i have found coupple...
Apparently myfxbook auto systems are not available to USA accounts. At least that is the message I see when I went there.....

Correction it was FXOPEN that doesn't serve US residents. Not myfxbook.... I misread the statement.

I run a strategy I had written for me that helps speed up my entries... Exits are already in the program.
Been tweeking it a little lately but things are coming together and looking good.
I won't add any more than that because i don't want to hyjack this great thread.
I look forward to OddReality's success in this venture.
  • #84
  • Sep 23, 2018 12:37am Sep 23, 2018 12:37am
Quoting tradestar1
{quote} Apparently myfxbook auto systems are not available to USA accounts. At least that is the message I see when I went there..... Correction it was FXOPEN that doesn't serve US residents. Not myfxbook.... I misread the statement. I run a strategy I had written for me that helps speed up my entries... Exits are already in the program. Been tweeking it a little lately but things are coming together and looking good. I won't add any more than that because i don't want to hyjack this great thread. I look forward to OddReality's success in this venture....
Thank you for your response. I also had been modifying my system until i opened this thread.now the question will be is if it works from here on out.
1% a day keeps the 9 to 5 away. Even with 500usd account!
  • #85
  • Sep 23, 2018 1:28am Sep 23, 2018 1:28am
Quoting OddReality
{quote} Thank you for your response. I also had been modifying my system until i opened this thread.now the question will be is if it works from here on out.
Well all I can say is it certainly seems to be woking.... Congrats and continued profits to you.
We are all waiting to hear more about your system but I understand not wanting to be to open about it.
I did some comparisons between a few of your trades and some of mine..... We have a number of very similar entries but some of your exits are sooner than mine.... Not a bad thing just a little different.
I use Renko charts for my trades and only trade during a couple hour time slot. My trades are usually done in just a few minutes. Then I go do something else......
I can't understand how people can sit in front of price charts for a whole day ..
I have thought a little about a journal but I haven't fully decided yet...
  • #86
  • Sep 23, 2018 6:10am Sep 23, 2018 6:10am
Quoting tradestar1
{quote} Well all I can say is it certainly seems to be woking.... Congrats and continued profits to you. We are all waiting to hear more about your system but I understand not wanting to be to open about it. I did some comparisons between a few of your trades and some of mine..... We have a number of very similar entries but some of your exits are sooner than mine.... Not a bad thing just a little different. I use Renko charts for my trades and only trade during a couple hour time slot. My trades are usually done in just a few minutes. Then I go...
if you don't mind, in order to help this thread grow, maybe you shhould share your trades where we entered at the same moment but where my tp what honored before yours? One of the to this system is the "Market reset".
Thhe market reset is a certqin amoubt of pips which is reached which then causes any formatuon which is pending conformation or confirmed to be reset. Looking at the tick and 1m I have noticed that the Market Reset amount is........
1% a day keeps the 9 to 5 away. Even with 500usd account!
  • #87
  • Sep 23, 2018 6:17am Sep 23, 2018 6:17am
Quoting tradestar1
{quote} Well all I can say is it certainly seems to be woking.... Congrats and continued profits to you. We are all waiting to hear more about your system but I understand not wanting to be to open about it. I did some comparisons between a few of your trades and some of mine..... We have a number of very similar entries but some of your exits are sooner than mine.... Not a bad thing just a little different. I use Renko charts for my trades and only trade during a couple hour time slot. My trades are usually done in just a few minutes. Then I go...
What renko brick size doo you use??? i havent heard people doing shorterm trades of renkos before ore scalps you say trades last only for minutes i have tried some renko systems but the slippage have been too high for me too pinpoint a entry and exits....But mayby i have used wrong renkosize...I would love too hear a little abaut your aproche if you want too share a little????
You win some you loose some do both with peace of mind
  • #88
  • Sep 23, 2018 9:52am Sep 23, 2018 9:52am
Good morning guys.
I need to clarify that I am not trading FX at this time. I trade the Dow mini futures.
However I was checking a few of OR's trades against my EUR/USD charts and signals had I taken them.
Here is his 6:00 AM trade.
And here is my 6:30 signal and trade.... Had I taken it.
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  • #89
  • Sep 23, 2018 10:00am Sep 23, 2018 10:00am
Quoting magne999
{quote} What renko brick size doo you use??? i havent heard people doing shorterm trades of renkos before ore scalps you say trades last only for minutes i have tried some renko systems but the slippage have been too high for me too pinpoint a entry and exits....But mayby i have used wrong renkosize...I would love too hear a little abaut your aproche if you want too share a little????
I have been looking at OR's trades and the EUR/USD with a 5 pip brick..(that is on a 0.0000 price setting) or 4 place decimal.
The trade example above lasted about 50 minutes.. Some take longer some happen very quickly.
  • #90
  • Sep 23, 2018 10:09am Sep 23, 2018 10:09am
Quoting tradestar1
{quote} I have been looking at OR's trades and the EUR/USD with a 5 pip brick..(that is on a 0.0000 price setting) or 4 place decimal. The trade example above lasted about 50 minutes.. Some take longer some happen very quickly.
So you wait for reversal and take the trade at a pullback on the second renko brick....Ore am i wrong...Not sure what you mean OR`s trades???
You win some you loose some do both with peace of mind
  • #91
  • Sep 23, 2018 10:17am Sep 23, 2018 10:17am
OR...
Here is your midnight trade and my midnight signal...
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  • #92
  • Sep 23, 2018 11:53am Sep 23, 2018 11:53am
OddReallity...

As I look at your trades I have to wonder who is taking them for you. Given the hours and the trade parameters I can't see how you would be making all these trades and still have a life.... Now please don't misunderstand me here, there is no insult intended. I am just trying to figure out your methods.
If you were using myfxbooks auto trade feature I could see where these trades could happen. Of course the caveat to that is finding good signal providers to use which in this business is no easy task.
Once again ... No disrespect just trying to figure you out...
Beside who am I to argue with apparent success.
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  • #93
  • Sep 23, 2018 11:59am Sep 23, 2018 11:59am
Quoting magne999
{quote} So you wait for reversal and take the trade at a pullback on the second renko brick....Ore am i wrong...Not sure what you mean OR`s trades???
That is correct, if price pulls back to the open of the signal bar the trade is triggered, TP is the close of the entry bar for a 2 to 1 reward risk.
there are other nuances but that is the method in it's basic form.

OR's Trades... OddReallity's trades.
  • #94
  • Sep 23, 2018 12:10pm Sep 23, 2018 12:10pm
Quoting tradestar1
OddReallity... As I look at your trades I have to wonder who is taking them for you
OR will answer himself best , but i think he uses an EA alongside manual trading
  • #95
  • Sep 23, 2018 12:12pm Sep 23, 2018 12:12pm
Quoting MXT
{quote} OR will answer himself best , but i think he uses an EA alongside manual trading
Well I gotta say it's a good EA if that's the case...
  • #96
  • Sep 23, 2018 12:22pm Sep 23, 2018 12:22pm
Quoting tradestar1
{quote} Well I gotta say it's a good EA if that's the case...
however if you look closer , you ' ll see that on average he's taking less than 10 trades per day
  • #97
  • Sep 23, 2018 12:53pm Sep 23, 2018 12:53pm
Quoting MXT
{quote} however if you look closer , you ' ll see that on average he's taking less than 10 trades per day
That may be but it is a very long day....
Like I said earlier I don't trade FX but I check in on it from time to time and looking at it with my method I may have to start...lol
I trade Futures .. Dow mini.... Most of my trades are done in just a few minutes though I may have to sit through the 2 1/2 morning session to get a trade which also sometimes just doesn't materialize.
So when that morning session is done.... So am I ... off to bigger better things than watching a chart all day.
  • #98
  • Sep 23, 2018 2:22pm Sep 23, 2018 2:22pm
The human mind has a wonderful way of looking for patterns in order to make sense of things. In my case, I never trade more then 1% per pip after a 20 pip move. Unless i mentioned that to you, you might not of noticed it. Thhose specific rules or observations, depending on whom is viewing, will make you think we are on thesame path when we arent. no matter the time of day, as long as we are under the 20 pip range then we are more than likely in a .2 or .3 order. Shhouod pa reverse x amount pips, i then risk 2.5_-3.5% per pip depending on distance between entry and sl. The wonderful part is the sl has never hit. If we can earn 100 straight wins of those big lots then this thread will be on Forbes list!
1% a day keeps the 9 to 5 away. Even with 500usd account!
  • #99
  • Sep 23, 2018 2:25pm Sep 23, 2018 2:25pm
Quoting tradestar1
OddReallity... As I look at your trades I have to wonder who is taking them for you. Given the hours and the trade parameters I can't see how you would be making all these trades and still have a life.... Now please don't misunderstand me here, there is no insult intended. I am just trying to figure out your methods. If you were using myfxbooks auto trade feature I could see where these trades could happen. Of course the caveat to that is finding good signal providers to use which in this business is no easy task. Once again ... No disrespect just...
Ea as Mxt mention alerts me and i confim the formatioon and enter. I even entrr right before high impact news most times. All formations are expected to win 100% on the reverse. With that said, i only use my cell phoje if it involves trading. Nothing else for me. No social media.
1% a day keeps the 9 to 5 away. Even with 500usd account!
  • #100
  • Sep 23, 2018 3:17pm Sep 23, 2018 3:17pm
Quoting OddReality
If we can earn 100 straight wins of those big lots then this thread will be on Forbes list!
I'm rootin for ya OR...........
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