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  • #2,841
  • Aug 27, 2020 11:23am Aug 27, 2020 11:23am
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GU M5 Trade from this morning
First attempt at posting a trade, sadly it did not have a happy ending.
Any comments / advice very welcome.
Pips to all
Pilulae
  • #2,842
  • Aug 27, 2020 1:01pm Aug 27, 2020 1:01pm
Quoting Pilulae
{image} GU M5 Trade from this morning First attempt at posting a trade, sadly it did not have a happy ending. Any comments / advice very welcome. Pips to all Pilulae
Good example of a trade that was taken in accordance with rules but didn't work out. They happen.

Thanks for sharing - please feel welcome to keep posting
  • #2,843
  • Aug 27, 2020 2:13pm Aug 27, 2020 2:13pm
Quoting turnip15
Nasdaq UK afternoon. Well - first time ever. I cannot find a way in or entry. Big candles putting me off. Might come back at 7pm , UK time, to see if things slow down ( smaller bars) or just miss the day. Maybe Powell speaking etc has spiked the market? Dog has stolen my cream bun !! {image}
Well - I didn't come back at 7pm UK time. So a zero day for me
every Saint has a past. Every Sinner has a Future
  • #2,844
  • Edited 12:58am Aug 28, 2020 12:17am | Edited 12:58am
Expecting the gj will go north and indeed it was,since the market only open for about 6 hours and already hit the high adr,I was expecting an adr counter(Laura's Advanced method)I have shorted at the blue box andmanaged to get 40 pips.All pair that have Japan yen seem to be influenced by the news about Japan Prime Minister retirement? Are my reasoning for this trade correct?
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  • #2,845
  • Aug 28, 2020 12:49am Aug 28, 2020 12:49am
Why did not i find this thread earlyer. Thank you!
  • #2,846
  • Aug 28, 2020 4:30am Aug 28, 2020 4:30am
Quoting turnip15
{quote} Well - I didn't come back at 7pm UK time. So a zero day for me
This price action is far better than yesterday ( So patience pays -even if doing nothing for the day)
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every Saint has a past. Every Sinner has a Future
  • #2,847
  • Aug 28, 2020 5:00am Aug 28, 2020 5:00am
Quoting LauraT
{quote} Good example of a trade that was taken in accordance with rules but didn't work out. They happen. Thanks for sharing - please feel welcome to keep posting
Laura
Thank you for your comments. It is very comforting to hear that I was on the right track even though it was a losing trade!
There is no avoiding Murphy's Law ( I must learn how to insert emojis)
  • #2,848
  • Aug 28, 2020 5:05am Aug 28, 2020 5:05am
Latest trade also a loss this morning EJ M5
I think the initial entry should not have been made until properly clear of resistance box, but was a reasonable reading of the market. However I think that when things turned sour I should have either exited earlier or exited by reversing the trade.

Any guidance / comments on reaching that decision most welcome

Pilulae

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  • #2,849
  • Aug 28, 2020 6:55am Aug 28, 2020 6:55am
Quoting Pilulae
Latest trade also a loss this morning EJ M5 I think the initial entry should not have been made until properly clear of resistance box, but was a reasonable reading of the market. However I think that when things turned sour I should have either exited earlier or exited by reversing the trade. Any guidance / comments on reaching that decision most welcome Pilulae {image}
Nothing wrong technically, keep working it, not every trade is going to be a winner.
At least for me this was a tough week to trade.
Ended the week with 11 trades and 6 winners (56%) with a net of +39 pips.

Have a great weekend everyone and to your profits next week.
  • #2,850
  • Aug 28, 2020 7:10am Aug 28, 2020 7:10am
Quoting TheG-Lover
{quote} Nothing wrong technically, keep working it, not every trade is going to be a winner. At least for me this was a tough week to trade. Ended the week with 11 trades and 6 winners (56%) with a net of +39 pips. Have a great weekend everyone and to your profits next week.

Thank you G-Lover for the encouragement
  • #2,851
  • Aug 28, 2020 7:13am Aug 28, 2020 7:13am
Quoting TheG-Lover
{quote} Nothing wrong technically, keep working it, not every trade is going to be a winner. At least for me this was a tough week to trade. Ended the week with 11 trades and 6 winners (56%) with a net of +39 pips. Have a great weekend everyone and to your profits next week.
Nice one TheG-Lover..

I like reviewing your charts...mind sharing some of this week's trades? the losers if possible.
Thanks
  • #2,852
  • Aug 28, 2020 7:48am Aug 28, 2020 7:48am
Quoting TheG-Lover
{quote} Nothing wrong technically, keep working it, not every trade is going to be a winner. At least for me this was a tough week to trade. Ended the week with 11 trades and 6 winners (56%) with a net of +39 pips. Have a great weekend everyone and to your profits next week.
Agreed -this week has been one of the tougher ones. But keep going and stick with it.
every Saint has a past. Every Sinner has a Future
  • #2,853
  • Edited 11:45am Aug 28, 2020 8:16am | Edited 11:45am
Spotted chance for adr failure,i shorted at the blue box,but my problem now is that i tend to exit too early.caught 18 pips where there is an opportunity to catch at least 50++ pips by this time im writing.increase my equity at least 140% this week.
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  • #2,854
  • Aug 28, 2020 8:47am Aug 28, 2020 8:47am
Quoting learnfast
{quote} Nice one TheG-Lover.. I like reviewing your charts...mind sharing some of this week's trades? the losers if possible. Thanks
Here are three losers from earlier in the week. Sadly my favorite setup the pushbase went 2w's a 4 L's for the week.
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  • #2,855
  • Aug 28, 2020 8:52am Aug 28, 2020 8:52am
Quoting TheG-Lover
{quote} Here are three losers from earlier in the week. Sadly my favorite setup the pushbase went 2w's a 4 L's for the week.{image}{image}{image}
Thanks for sharing
  • #2,856
  • Aug 28, 2020 9:01am Aug 28, 2020 9:01am
Quoting TheG-Lover
{quote} Here are three losers from earlier in the week. Sadly my favorite setup the pushbase went 2w's a 4 L's for the week.{image}{image}{image}
on the first trade, u was at R1, why not set BE atleast? imho BE rather then a loss. ofc this is just my opinion..i advocate for actively managing the trades and react to whatever the market throws at me rather then set and forget.
nontheless, tough week for most of the market aproaches, so to have finshed with a small loss or at BE it s what differentiates the pros from retail imho. stay green.
cheers
  • #2,857
  • Aug 28, 2020 9:15am Aug 28, 2020 9:15am
Quoting 1odi
{quote} on the first trade, u was at R1, why not set BE atleast? imho BE rather then a loss. ofc this is just my opinion..i advocate for actively managing the trades and react to whatever the market throws at me rather then set and forget. nontheless, tough week for most of the market aproaches, so to have finshed with a small loss or at BE it s what differentiates the pros from retail imho. stay green. cheers
Lol,
We all have our trading plan, let's stick to it...I have seen him take similar setups and it pays really good.
I didn't ask him to share his losing trades so we can show him where he would have done better.
I understand your intentions are good but next time someone shares losing trades, If they don't explicitly ask for your opinions it would be better you keep the opinions to yourself.

Losing a trade is bad enough, trying to make the trader feel stupid because you would have done better doesn't make sense at all.
Peace!
  • #2,858
  • Aug 28, 2020 9:21am Aug 28, 2020 9:21am
Quoting learnfast
{quote} Lol, We all have our trading plan, let's stick to it...I have seen him take similar setups and it pays really good. I didn't ask him to share his losing trades so we can show him where he would have done better. I understand your intentions are good but next time someone shares losing trades, If they don't explicitly ask for your opinions it would be better you keep the opinions to yourself. Losing a trade is bad enough, trying to make the trader feel stupid because you would have done better doesn't make sense at all. Peace!
that was not my intention at all, but i see ur point of view. i do want to apologise if he~she, took it to heart or i ve came across as agressive, that was not my intention. i wanted simply to point out that having price go in ur favour for atleast what u risked and then lose that trade hurts, i ve been thro that as well, so from my own experience, setting BE once the trade has reached for example R1, takes the edge off and it s a risk free trade whatever happens, an also reduces the exposure u have in the market beeing able to take other positions as well. ofc it s just my way of seeing things after trial and error.
cheers
  • #2,859
  • Aug 28, 2020 9:29am Aug 28, 2020 9:29am
Quoting TheG-Lover
{quote} Here are three losers from earlier in the week. Sadly my favorite setup the pushbase went 2w's a 4 L's for the week.{image}{image}{image}
Thanks for sharing. I found this week that even though price ended up where I thought it would by the end of play, it stopped me out before getting there on a good few occasions. A lot of whipsaw.

Where can I read more about your push base set up? Thanks.
  • #2,860
  • Aug 28, 2020 10:16am Aug 28, 2020 10:16am
Quoting 1odi
{quote} that was not my intention at all, but i see ur point of view. i do want to apologise if he~she, took it to heart or i ve came across as agressive, that was not my intention. i wanted simply to point out that having price go in ur favour for atleast what u risked and then lose that trade hurts, i ve been thro that as well, so from my own experience, setting BE once the trade has reached for example R1, takes the edge off and it s a risk free trade whatever happens, an also reduces the exposure u have in the market beeing able to take other...
You do have a valid point and I am sure it was appreciated. Doing as you suggest would ensure you have some money in your pocket for the trade and the rest of the trade either adds to your gains or simply leaves you with a smaller profit ( but a payday at least). Example would be to use two contacts and take one off at breakeven plus two etc)
every Saint has a past. Every Sinner has a Future
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