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1H Swing Trading on EURUSD

  • #861
  • Jul 14, 2020 9:11am Jul 14, 2020 9:11am
This system at least has helped me to be more consistent and focus only on a single pair and not go to discretion with different pairs, I try to follow the entry rules of the system, the difference is that I use an R: R 1: 1 with TP and SL of 50 pips and a risk per operation of 2.5% once the operation is open, I forget about it and I don't worry about looking at the chart until I see the price approaching the moving average again. In this last month the account will have increased by approximately 15% with that RR. (sorry for my bad inglish)
  • #862
  • Jul 14, 2020 11:02am Jul 14, 2020 11:02am
Quoting broketrader
{quote} Sorry, but some folk on FF telling me to take the profits is not part of my trading system.
Your graph is clear indication that the system is profitable. Discipline will be extremely important.

Cheers~
  • #863
  • Jul 14, 2020 11:32am Jul 14, 2020 11:32am
A new higher high is the clear sign that trend 20-23 is now in place.

My entry was almost perfect on the retracement after the signal and after having closed my previous short with acceptable losses, my second entry is also at a good level. No more entries for this trend, I will look to exit the trade the moment the trend is broken plus additional weakness in the price action.

Attached Image (click to enlarge)
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Simplicity is the Ultimate Sophistication.
  • #864
  • Jul 14, 2020 3:37pm Jul 14, 2020 3:37pm
Quoting broketrader
{quote} In the beginning I thought you wanted genuinely understand my way of doing things, now you look more like a know it all guy that just want to give his lesson for free so I think it's better to stop the discussion here.
You were right, I even congratulated you on your low drawdown and high profit factor. Now that I have understood your way of trading I am just surprised that you didn’t understand that yourself by blaming a few losses instead of your excess risk, I am even more surprised that what I said seemed “know it all” while it is just our basic economics, and I said it very politely.

Making money in trading is veeery easy, the hard part is to keep it, you just proved that and still don’t want to admit that it was because insane risks was taken.

Again it I said very basic economics and your trend Explorer showed the consequences, you are back to square 1, eventually time (experience) will tell you.

Anyway I heard you and won’t be posting anything more unless someone quote one of my post.

Good luck in your journey, cheers,
LDFX Trading Ltd
  • #865
  • Jul 14, 2020 3:53pm Jul 14, 2020 3:53pm
Quoting broketrader
{quote} In the beginning I thought you wanted genuinely understand my way of doing things, now you look more like a know it all guy that just want to give his lesson for free so I think it's better to stop the discussion here.

Just an edit about “Van Tharp” and this will be my last post.

Indeed I confused the book “Trading in the zone” being from Van Tharp.

I have read Trading in the zone, good book but if you like to read about Trading “Trading your way to financial freedom” by Van Tharp is definitely a must read too.

Cheers,
LDFX Trading Ltd
  • #867
  • Jul 16, 2020 9:49am Jul 16, 2020 9:49am
There was a false break of the trend, things we have to live with. Logically, it forced me to exit and to re-enter once the price was above the trend again.
Some pips lost in the operation that should quickly be recovered if the trend resumes making a higher high.

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Simplicity is the Ultimate Sophistication.
  • #868
  • Jul 23, 2020 4:12am Jul 23, 2020 4:12am
Not much trading this and last week.

I thought that a reversal in trend was in the making but instead, the up trend got stronger and the price being near the SMA was a missed opportunity to get the risk and enter long. Now that it has accelerated, I will just wait for a short signal even if this trend takes 2 more weeks to finish, there is no hurry.

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Simplicity is the Ultimate Sophistication.
  • #869
  • Jul 28, 2020 10:15am Jul 28, 2020 10:15am
are you following the rules anymore?
  • #870
  • Jul 29, 2020 12:19pm Jul 29, 2020 12:19pm
Quoting Trader4818
are you following the rules anymore?

It doesn’t matter if he is , when trading at ~1% a pip anything will fail.
LDFX Trading Ltd
  • #871
  • Jul 29, 2020 1:47pm Jul 29, 2020 1:47pm
How do you know what amount equals 1% of his trading capital?
...
  • #872
  • Jul 29, 2020 3:47pm Jul 29, 2020 3:47pm
Quoting Go5
How do you know what amount equals 1% of his trading capital? ...

Check out the last couple of closed trades on his account since a few weeks and compare pips with loss in %, then you might understand why it is down 92.6% over the month...
LDFX Trading Ltd
  • #873
  • Jul 29, 2020 4:15pm Jul 29, 2020 4:15pm
Quoting LDFX
{quote} Check out the last couple of closed trades on his account since a few weeks and compare pips with loss in %, then you might understand why it is down 92.6% over the month...
His account does not necessarily (most shurely not..) show his total trading capital, does it?
Anyway, as a trader you should be able to ignore any personal MM and use all the good stuff gratefully...
  • #874
  • Jul 29, 2020 4:31pm Jul 29, 2020 4:31pm
Quoting Go5
{quote} His account does not necessarily (most shurely not..) show his total trading capital, does it? Anyway, as a trader you should be able to ignore any personal MM and use all the good stuff gratefully...

Of course it does, haven’t you seen it ?! It is on the top of each page.

It clearly shows the capital, went from 15735 to 758.

Well, if you learned a few stuff beside the lesson that without money management nothing holds, then sure. Just sad that his Trend Explorer couldn’t mirror that. We will never know if his « strategy » was actually good.

A sad pattern occurring every time on FF, just because of unrealistic profit expectations that can only be fueled by excessive risk...
LDFX Trading Ltd
  • #875
  • Jul 29, 2020 8:45pm Jul 29, 2020 8:45pm
I've been following this thread casually for a few weeks and it seems to me that there are problems with this strategy, namely you are trying to catch the big trends but staying in often only averages out to 15 pips a day. Not much. You need to take profit when you are up 100 pips in two days which seems to happen a lot. Then get back in when it returns to the MA.
As always the trends are easy money with a trend following strategy, the killer is the consolidation phase. I was thinking you need to buy above the MA and sell below.
How about Buying when the price resumes with the trend as in the pic and exit when the mini trend is broken?
Then get back in when the price comes back to the MA. If it breaks down thru the MA then you sell.

My 2 cents.
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  • #876
  • Jul 30, 2020 2:13am Jul 30, 2020 2:13am
Quoting LDFX
{quote} Of course it does, haven’t you seen it ?! It is on the top of each page. It clearly shows the capital, went from 15735 to 758. Well, if you learned a few stuff beside the lesson that without money management nothing holds, then sure. Just sad that his Trend Explorer couldn’t mirror that. We will never know if his « strategy » was actually good. A sad pattern occurring every time on FF, just because of unrealistic profit expectations that can only be fueled by excessive risk...
I have enough of your know it all attitude, while at the same time you only show a demo explorer not traded since 14 months, what the fuck ?!

You don't know what my MM is, you don't know what my owns evils are, you don't know what's going on on my mind and you don't know who I am. I have been here since 7 months and you just seem like you were waiting for this to fail to open your mouth as if you knew what was going on since the beginning and as if this thing had terminated just now.

You are transparent so we don't know you're lurking here, what a courageous guy you are, but you don't miss an occasion to open your mouth.
Now, you will not only be transparent, but also out of here.
Simplicity is the Ultimate Sophistication.
  • #877
  • Jul 30, 2020 2:30am Jul 30, 2020 2:30am
Quoting Don M
I've been following this thread casually for a few weeks and it seems to me that there are problems with this strategy, namely you are trying to catch the big trends but staying in often only averages out to 15 pips a day. Not much. You need to take profit when you are up 100 pips in two days which seems to happen a lot. Then get back in when it returns to the MA. As always the trends are easy money with a trend following strategy, the killer is the consolidation phase. I was thinking you need to buy above the MA and sell below. How about Buying...
No worries, I'm not lost, or maybe that I have been a bit but working on my issues right now. My last trades were non system ones and was instead trying to figure out the top when I should definitely acknowledge that I'm not good at all at that and while instead I should have entered on the retracements. The issue here is to find a way to be patient when I'm out of a good trend like the one we had right now. I know that trends, even the good ones, don't run forever but it looks like I'm not convinced yet.

You are right when saying that I have to take out some profits on a certain amount of pips and then re-entering back, It's something that I will definitely add to my trading, for the rest I have definitely a different view but it's true that consolidation phases can be an issue if the swings are big enough to generate a signal each time, it's also something I'm working on.
Simplicity is the Ultimate Sophistication.
  • #878
  • Aug 6, 2020 5:57am Aug 6, 2020 5:57am
What builds a character is not the things that happens to him, it's how he reacts to those things...

I have been fixing, I think, almost all the issues that were distracting me from the core of this system, mainly, higher time frame patterns, price action and even some comments here on FF.

On the trading system itself, I have added a second mirror trade which has a short TP. That's why from now you will always see double entries of same lots at the beginning of a trade and I will add also on retracements like I have been doing in the past. All this adds some risk but this is compensated by the overall risk reviewed lower as I explain below.

So, as said, I have been also reviewing my money management, in fact I have been carefully redesigning it, and this will translate in less riskier trades overall but which still be for sure too much for the vast majority of people looking here. The main reason for this is that my plan is to reach the 10K level on my balance quite quickly, 3-6 months and I think I have 50% chances of success, I fully accept the fact that in case of failure my account will show zero but on the other side, in case of success, the risk will be reduced gradually from there and this should drastically reduce the risk of ruin.

It's a paradox. It's when my account is at a minimum that I have the better feelings about my system but I know that it will all depend on the simple fact of having trends, at least decent ones, and on my ability to respect my rules, working on that too! Regarding the market, I know that 1, 2 or 3 months of consolidation could ruin the plan but I also accept that fact.

Regarding the poll, honestly I think that only those that have answered 50% had it right, because it's the market eventually giving decent trends who will really decide and not me even if I trade the system correctly. But I want to say thank you to all those that responded yes to the poll as I take that as an encouragement !

No need to elaborate more on hypothesis and theories, I just wanted to write this post to remember what was in my mind just now, what are my plans and not forget that an eventual account crash could happen and even be eventually normal given the risks I have accepted to take.

And in such event, just get up and start again.
Simplicity is the Ultimate Sophistication.
  • #879
  • Aug 17, 2020 8:59pm Aug 17, 2020 8:59pm
I have got to find your patience within me...You inspire me to be better Mr BrokeTrader
You learn something everyday if you pay attention.
  • #880
  • Aug 18, 2020 12:14am Aug 18, 2020 12:14am
Quoting visionxp
I have got to find your patience within me...You inspire me to be better Mr BrokeTrader
Thanks! That's what we all try to do I think, become better traders.

Regarding the patience, personally I now focus on what I "could" (if I can't yet fully) have the control on, the way I trade, because I can't control what the markets do and give and knowing that the results will be good if trends are there and less otherwise.

Every passing day that I trade by the rules is a success regardless of the results, then you sum days to have weeks, and weeks to have months, etc... I guess that this is how we became patient.

If that gives some inspiration, then good, all I can wish you is good luck !
Simplicity is the Ultimate Sophistication.
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