AUDCAD Short Trade
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PVSRA (Price, Volume, S&R Analysis)
- #5,981
- Oct 19, 2020 7:41pm Oct 19, 2020 7:41pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #5,982
- Oct 24, 2020 2:23pm Oct 24, 2020 2:23pm
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
PVSRA
- #5,983
- Edited 2:59pm Oct 24, 2020 2:49pm | Edited 2:59pm
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
Few weeks ago new idea came to my mind- what if instead of a trend(EMA) I would use TLs as entry rule. Meaning- PVSRA as analisys tool and TLs as entry tool with the main goal getting to very positive RR (anything from 1:1 to up to 10:1 RR) to get the long term expectancy playing for me. After some manual backtests the results were promising so I decided to forward test ...3 weeks into the forward test I decided to share my stats as forward test progresses so from next week on I will post some trade examples whenever I will find the time...
Price aproching rising trendline and there was no hasitation executing this one. To be honest I was pretty sure my 12 pips average entry SL will get hit- but it was worth a shot since RR was incredible. PVSRA at the rising TL: there was twice high activity at the swings bottom below the whole level.
Let's see if we can find such a candy next week.
PVSRA
- #5,984
- Edited 3:40pm Oct 24, 2020 3:28pm | Edited 3:40pm
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
AUDJPY short and long trade none went per plan:
First I went short thinking after tight range for a long time PA will finaly break down. SL above the falling TL and initial RR was pretty solid so I loaded up more when price went up to the falling TL. The mistake was that I pressed short twice too many times. Should have been 5 EPs but I pressed 7X instead and the consequence was 7% loss instead of 5%. So what went wrong was not that the trade ended up in loss but the loss was a bit too big because of my number of EPs mistake.
It was worth reversing at the break up of the falling TL so I went long. Still better then 1:1 RR initialy since my TP was at the upper almost flat TL. Did not happen at the same day and I decided to close most at small minus counting both directions, leaving last long EP with SL at 1 pip green thinking that if my TP hits I will come out +BE from this adventure. That went wrong ( for the second time since begining of this trade) since my +1 SL was hit.
IMHO this trade was not a good setup from the start because there was no clear trend. Should have been traded as a range trade but that is the hindsight of course.
First I went short thinking after tight range for a long time PA will finaly break down. SL above the falling TL and initial RR was pretty solid so I loaded up more when price went up to the falling TL. The mistake was that I pressed short twice too many times. Should have been 5 EPs but I pressed 7X instead and the consequence was 7% loss instead of 5%. So what went wrong was not that the trade ended up in loss but the loss was a bit too big because of my number of EPs mistake.
It was worth reversing at the break up of the falling TL so I went long. Still better then 1:1 RR initialy since my TP was at the upper almost flat TL. Did not happen at the same day and I decided to close most at small minus counting both directions, leaving last long EP with SL at 1 pip green thinking that if my TP hits I will come out +BE from this adventure. That went wrong ( for the second time since begining of this trade) since my +1 SL was hit.
IMHO this trade was not a good setup from the start because there was no clear trend. Should have been traded as a range trade but that is the hindsight of course.
PVSRA
- #5,985
- Oct 24, 2020 4:29pm Oct 24, 2020 4:29pm
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
Worth to mention:
I have no idea how this new trading method will work out in the long run ( at least 6 months stats). But it has very simple rules (TL entry with positve expectancy backed up with PVSRA ) so we do not need a PHD to trade it and come out green. Common sense and discipline to execute and that's it. Anybody wishing to join in on this adventure (definitly advised to demo trade until at least 6 months consistent stats reached) can ask questions if something was not clear.
I have no idea how this new trading method will work out in the long run ( at least 6 months stats). But it has very simple rules (TL entry with positve expectancy backed up with PVSRA ) so we do not need a PHD to trade it and come out green. Common sense and discipline to execute and that's it. Anybody wishing to join in on this adventure (definitly advised to demo trade until at least 6 months consistent stats reached) can ask questions if something was not clear.
PVSRA
- #5,987
- Oct 24, 2020 4:59pm Oct 24, 2020 4:59pm
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
OP...do you think you could share the latest indicators for your method here ?
PVSRA
- #5,988
- Oct 26, 2020 11:00am Oct 26, 2020 11:00am
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
GBPCAD Long:
Very nice trade. Exactly per plan and nice RR. Hit SL by 1.5 pips and this will happen...
Very nice trade. Exactly per plan and nice RR. Hit SL by 1.5 pips and this will happen...
PVSRA
- #5,989
- Oct 26, 2020 2:57pm Oct 26, 2020 2:57pm
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
EURUSD Long:
Not a good trade- no PVSRA support. Explanation on chart...
Not a good trade- no PVSRA support. Explanation on chart...
PVSRA
- #5,990
- Oct 26, 2020 3:14pm Oct 26, 2020 3:14pm
- Joined Jan 2007 | Status: Senior Member | 6,517 Posts
Nice to see the old PVSRA gang back...
Regards,
Cigarguy
Regards,
Cigarguy
Keep It Simple
- #5,991
- Oct 27, 2020 10:22am Oct 27, 2020 10:22am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #5,992
- Oct 27, 2020 11:14am Oct 27, 2020 11:14am
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
PVSRA
- #5,993
- Oct 27, 2020 11:22am Oct 27, 2020 11:22am
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
AUDJPY Long Trade:
Looked like a good trade when I started it. No downside continuation confirms it. A problem for a newbie would be hitting many losses in the row ( in my case probably 4 here this week as I opened premature GCad long which was probably also not such a good idea). This is not easy for a trader, but so far this week I haven't seen anything spectacularly good yet. When I will, I will load up. Until then, I remain gentle.
Looked like a good trade when I started it. No downside continuation confirms it. A problem for a newbie would be hitting many losses in the row ( in my case probably 4 here this week as I opened premature GCad long which was probably also not such a good idea). This is not easy for a trader, but so far this week I haven't seen anything spectacularly good yet. When I will, I will load up. Until then, I remain gentle.
PVSRA
- #5,994
- Oct 27, 2020 12:03pm Oct 27, 2020 12:03pm
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
GBPCAD Bad Idea Long Trade
Closed manualy, SL was placed a bit lower. Not well planned so I bailed out . If nothing else rollover would take me out lower most probably and because of bad timing it is not smart to switch to short here.
I will not lower my risk per trade yet, instead I will switch to H1 for a while to have better trade preparation. Next revision after end of the week if there will be enough setups.
Closed manualy, SL was placed a bit lower. Not well planned so I bailed out . If nothing else rollover would take me out lower most probably and because of bad timing it is not smart to switch to short here.
I will not lower my risk per trade yet, instead I will switch to H1 for a while to have better trade preparation. Next revision after end of the week if there will be enough setups.
PVSRA
- #5,995
- Edited 5:52pm Oct 27, 2020 4:40pm | Edited 5:52pm
EUR / JPY short trade My first post on FF. Accumulation above whole level with high activity, after the breakout, MMs return PA above the whole level with notable volume, stop hunting to load longs 
- #5,996
- Edited 11:13pm Oct 27, 2020 10:10pm | Edited 11:13pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #5,997
- Oct 27, 2020 11:20pm Oct 27, 2020 11:20pm
{quote} Update on Progress Progress shown in first two charts as well as possible near term TP target area. Third chart shows in play H&S pattern with possible longer term target. {image} {image}
- #5,999
- Edited 1:17pm Oct 28, 2020 12:39pm | Edited 1:17pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #6,000
- Oct 28, 2020 3:38pm Oct 28, 2020 3:38pm
- Joined Jan 2015 | Status: PVSRA with Traderathome | 1,689 Posts
EURUSD Long Trade:
Could have happened, but fundamentals kicked in. Clear reversal at the TL.
Worth reversing this one, since situation is a bit clearer. Might add a third one if I get a good entry tomorrow.
Could have happened, but fundamentals kicked in. Clear reversal at the TL.
PVSRA