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GamblerPro

  • #261
  • Jul 1, 2019 5:53am Jul 1, 2019 5:53am
No trades for me today.

I'll return tomorrow.

Masterrmind.............
Master your Mind then Master your Trades
  • #262
  • Jul 1, 2019 6:33am Jul 1, 2019 6:33am
Quoting Masterrmind
No trades for me today. I'll return tomorrow. Masterrmind.............
Don't blame you at all - not been easy today - managed to scrap a few pips only and I think I will do the same
  • #263
  • Jul 1, 2019 7:05am Jul 1, 2019 7:05am
Well I changed my mind and decided to play the news - if I'm going to do HR trading I might as well take a high risk trade!!

  • #264
  • Jul 1, 2019 7:43am Jul 1, 2019 7:43am
gold from Friday and GBPJPY short scalp today.

still just messing around on the demo, didn't get on the initial break out on GBPJPY but jumped on the retrace
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  • #265
  • Jul 1, 2019 12:50pm Jul 1, 2019 12:50pm
Quoting Dumaresq
{quote} Just wondering why did you backtest 10 years of data on a strat that you will be using for aggressive trading over 2 months? Why not just backtest the past 6 months as markets are more relevant than 10 years ago... Just a thought... Also on a side note, If you know how to backtest a strat get in touch, I'd like to backtest mine
Backtesting allows you to start with something.. rather then reinventing the wheel and then watching out ideas fail because they are not grounded well in context. I

hope now you got your answer why millions of traders back-test and then forward test their systems so that they might fall astray from the contextual underpinnings.

My two cents
Markets are Irrational
  • #266
  • Jul 2, 2019 1:39am Jul 2, 2019 1:39am
Quoting ArslanHyder
{quote} Backtesting allows you to start with something.. rather then reinventing the wheel and then watching out ideas fail because they are not grounded well in context. I hope now you got your answer why millions of traders back-test and then forward test their systems so that they might fall astray from the contextual underpinnings. My two cents
Yes but market conditions were so different 10 years ago, why backtest conditions 10 years ago with a strat you will max out in next 2 months? doesn't make sense to me tbh but oh well, I understand the use of backtests, but for what you were backtesting maybe 10 years of data is too much is all.
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  • #267
  • Jul 2, 2019 1:43am Jul 2, 2019 1:43am
Missed a lovely textbook London breakout this morning +40 pips would of been nice, but I was driving
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  • #268
  • Jul 2, 2019 4:43am Jul 2, 2019 4:43am
Quoting Masterrmind
{quote} The idea is to study as much material as possible and then keep studying it. Then when you are comfortable apply what you have learnt on a demo account (I prefer a small funded live account here because losses will give you the emotional side of trading) and see if it helps. This process will take time and after much experience you will learn what to use and what not to use in your own trading strategy. Feel free to ask questions here once you have a little knowledge. Everyone had to start from somewhere and no-one knows everything so we...
Yeah i will try to learn the fundamentals, its what is missing from my strategy, thanks! Also Masterrmind, on your upcoming trades which you will post will there be any chance of telling us what your thinking as you go through the trade if you have time that is.. thanks
  • #269
  • Jul 2, 2019 4:51am Jul 2, 2019 4:51am
Quoting Jaricho313
{quote} Yeah i will try to learn the fundamentals, its what is missing from my strategy, thanks! Also Masterrmind, on your upcoming trades which you will post will there be any chance of telling us what your thinking as you go through the trade if you have time that is.. thanks
Since this thread is in the 'Interactive Trading' forum of FF it is unlikely that I will provide full analysis of my trade setups.

However, if traders ask me a question I will respond and give them additional information.

My responses may be brief in some cases whilst comprehensive in others.

My purpose here is not to teach traders my trading strategies, rather to talk more generally about Equity Curve movements and 'High Risk Trading'.

ps. please note that I may only post some setups as time allows and certainly not all of them, its simply far too time consuming.

Masterrmind...........
Master your Mind then Master your Trades
  • #270
  • Jul 2, 2019 5:23am Jul 2, 2019 5:23am
Quoting Dumaresq
Missed a lovely textbook London breakout this morning +40 pips would of been nice, but I was driving {image}
Me too! On M5 there was lovely bounce off falling dynamic resistance

One has to be up early if one lives in Europe to catch the best moves!
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  • #271
  • Jul 2, 2019 5:24am Jul 2, 2019 5:24am
GBPUSD [M5]

Possible setup.
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Masterrmind.............
Master your Mind then Master your Trades
  • #272
  • Jul 2, 2019 5:30am Jul 2, 2019 5:30am
Quoting Masterrmind
GBPUSD [M5] Possible setup. {image} Masterrmind.............
I'm keen to wait for price to rise a little and retest recent resistance and then I'll look to short it from closer to the DO Line (78.6 Fib area in this case).

Although its possible to enter a series of shorts starting at lower relative volume such as 0.10/0.25/0.50/1.00/2.00/3.00 etc based on favorable PA, I'm being patient here because if you look at the market PA since mid-LondonNY the bulls have the upper hand.

Patience, then execution.

Masterrmind............
Master your Mind then Master your Trades
  • #273
  • Jul 2, 2019 5:42am Jul 2, 2019 5:42am
Quoting Masterrmind
{quote} I'm keen to wait for price to rise a little and retest recent resistance and then I'll look to short it from closer to the DO Line (78.6 Fib area in this case). Although its possible to enter a series of shorts starting at lower relative volume such as 0.10/0.25/0.50/1.00/2.00/3.00 etc based on favorable PA, I'm being patient here because if you look at the market PA since mid-LondonNY the bulls have the upper hand. Patience, then execution. Masterrmind............
GU [M5]

Now short 0.25 lots.
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Strategy here is to add volume on favorable progress.

If price rises much above the DO line, I may close this 'small volume' initial entry and wait for another opportunity.

Masterrmind............
Master your Mind then Master your Trades
  • #274
  • Jul 2, 2019 5:52am Jul 2, 2019 5:52am
Quoting Masterrmind
{quote} GU [M5] Now short 0.25 lots. {image} Strategy here is to add volume on favorable progress. If price rises much above the DO line, I may close this 'small volume' initial entry and wait for another opportunity. Masterrmind............
Closed out after M1 PA showed bears struggling to break down below minor support level.
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It should be obvious that I'm after an entry that flows with continuing momentum and if I do not get this continuation then I'm out of the trade.

The danger is for the bulls to carry price to higher levels so I'd rather be on the sidelines.

A strong momentum type move allows me the chance to lock in Entry 1 at BE+ pips and then look to add in Entry 2 if conditions are favorable and so on.

If not, then I'm out and looking for the next setup !

Masterrmind............
Master your Mind then Master your Trades
  • #275
  • Jul 2, 2019 5:55am Jul 2, 2019 5:55am
Quoting Masterrmind
{quote} Closed out after M1 PA showed bears struggling to break down below minor support level. Masterrmind............
Yes me too!!

Opened a short and closed it quick - don't like the currency strength at the moment. I think need to see if GBP weakens this afternoon - hope so!
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  • #276
  • Jul 2, 2019 6:09am Jul 2, 2019 6:09am
Quoting Mtinifx
{quote} Yes me too!! Opened a short and closed it quick - don't like the currency strength at the moment. I think need to see if GBP weakens this afternoon - hope so! {image}
You have certainly started the month very well, might be hard to catch you now ... hahaha.
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Reading PA correctly is an art and takes time but as you can see it often saves alot of pain.

ps. I've sent a message to the TE crew so hopefully I can get my account linked soon.

Masterrmind............
Master your Mind then Master your Trades
  • #277
  • Jul 2, 2019 8:44am Jul 2, 2019 8:44am
In again, Started trading with a bonus gathered at my broker. https://www.myfxbook.com/portfolio/2...-weeks/3391250
Markets are Irrational
  • #278
  • Jul 2, 2019 8:57am Jul 2, 2019 8:57am
Quoting Masterrmind
{quote} You have certainly started the month very well, might be hard to catch you now ... hahaha. {image} Reading PA correctly is an art and takes time but as you can see it often saves alot of pain. ps. I've sent a message to the TE crew so hopefully I can get my account linked soon. Masterrmind............
I'm afraid I'm down a bit today. Only $14 because I traded the wrong account this morning for a small win! Still haven't conquered the fear factor properly though! Anyway back tomorrow with more resolve hopefully!
  • #279
  • Jul 2, 2019 9:02am Jul 2, 2019 9:02am
Quoting ArslanHyder
In again, Started trading with a bonus gathered at my broker. https://www.myfxbook.com/portfolio/2...-weeks/3391250
Also $100 - that's great

I love the title "$20 to $1,000,000 in 23 weeks" - that's going some but you know what? It's quite possible (with 500:1 leverage of course!)
  • #280
  • Jul 2, 2019 9:31am Jul 2, 2019 9:31am
Quoting Mtinifx
{quote} Also $100 - that's great I love the title "$20 to $1,000,000 in 23 weeks" - that's going some but you know what? It's quite possible (with 500:1 leverage of course!)
Changing the name to $100 Thankyou for pointing out... It is a typo mistake
Markets are Irrational
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