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1H Swing Trading on EURUSD

  • #921
  • Feb 19, 2021 12:46am Feb 19, 2021 12:46am
Quoting carddard
{quote} Do you average orders upwards as the trend goes in your favour?
No, I enter 2 orders on signal, one big and one small, the bigger one has a tight sl and tp, the contrary for the lower one which runs usually until a reverse order is present.

I have tried in backtesting adding additional orders on different ideas, occasionally I could increase the profit but I always increased the drawdown and this is what I try to keep under control as it's already big, which is around, but less than 50%, a level I can live with as the account can be doubled quite easily with 2-3 good trades, I just decided that the 50% level was the red line to not cross.
Simplicity is the Ultimate Sophistication.
  • #922
  • Mar 1, 2021 3:42am Mar 1, 2021 3:42am
Well, I met the bad and the good in an Interesting February !

The bad,
I had nice floating profits of 40%+ at some moments without realizing it was time to take profits and move on like it happened very often in the past (I know).
Because of that, of course, the profits evaporated and some revenge trades added more losses, yes I'm trading manually again.

The Good,
Because all of that I again worked on the system again trying to figure out how I could determine the optimal end of a trade entered by the EA so I could close it manually and just let it go for the next. The result has been that I just came out with my best system ever, at least on paper, lol, and what does it mean ?

It means that this could just be a turning point in my trading for the better, if I'm able to trade live what I have been drawing on my charts past year with this new system, it should translate in more than good results. We will see if the practice meets the theory.

I'm back to manual trading for now and I just entered my first trade with 1 full lot at what is the secondary entry which I could spot correctly. The primary entry (the best one) was already missed, I know exactly at which moment I have to exit and will wait that moment, what I don't know is if I will be able to spot it clearly and correctly.

Looking forward to trade this month of March!
Simplicity is the Ultimate Sophistication.
  • #923
  • Mar 5, 2021 4:22am Mar 5, 2021 4:22am
I'm done for this first trade with a nice 154 pips profit !

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And I'm in for the next even if I could be a bit early, but difficult to say right now.
Simplicity is the Ultimate Sophistication.
  • #924
  • Mar 5, 2021 5:35am Mar 5, 2021 5:35am
Bad Ass brother!!!
You learn something everyday if you pay attention.
  • #925
  • Mar 5, 2021 6:26am Mar 5, 2021 6:26am
Quoting visionxp
Bad Ass brother!!!
lol, just checking if it works live like in paper and of course one is not enough...
Simplicity is the Ultimate Sophistication.
  • #926
  • Mar 11, 2021 12:37am Mar 11, 2021 12:37am
Down trend no 7 finally terminated.

As I was suspecting, I entered too early and only 2nd and 3rd entries were correct for the next trend, took note of that.

Still learning so it's ok, and knowing where I was, I had the patience to wait for the retracement without being too much worried even at -100 pips drawdown !
I just closed it when on first opportunity with a -8 pips loss to correct the situation.

Now the situation is normal, meaning that my entries are at the right place to ride the current trend no 8.

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Simplicity is the Ultimate Sophistication.
  • #927
  • Mar 11, 2021 12:59am Mar 11, 2021 12:59am
Are you using the 100 EMA??
  • #928
  • Mar 11, 2021 2:30am Mar 11, 2021 2:30am
Quoting bernardkioko
Are you using the 100 EMA??
It's not 100 anymore (read post 1), it's 96, and yes it's the system explained in this thread plus some private improvement.
Ah! and it's not EMA, it's SMA, read post 1.
Simplicity is the Ultimate Sophistication.
  • #929
  • Apr 5, 2021 2:08am Apr 5, 2021 2:08am
As the previous months did, march showed me the good and the bad...

We had 2 really good trends 7 and 11 where I made some profits but I still didn't trade those trends well enough...
In between we had trends 8,9 and 10, a range where I totally messed up and lost all my previous profits.

Well, I think you always have to pay for any lesson...

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So I have been thinking and re-thinking again how I could ride the better possible those nice trends while navigating at the same time those troubled waters without too much damage for the account...

Looking at the waves numbered in red, I found out that the common characteristic between a well formed trend and one that reverses and reverses again forming a trading range, is the initial wave, the first wave, the one that changes the SMA color. So the game now will be to take profits on the first wave and re-enter on wave 2 in the trend's direction or in the other direction if the SMA color changes. With this I should be able to ride any trend while limiting the losses on trading ranges.

I have now to learn and experiment it live to see how possible it is to implement it live...
Until the next ;-)
Simplicity is the Ultimate Sophistication.
  • #930
  • Apr 6, 2021 2:37pm Apr 6, 2021 2:37pm
Nice Job BT!!!!
You learn something everyday if you pay attention.
  • #931
  • Apr 6, 2021 2:48pm Apr 6, 2021 2:48pm
I'm done for today with these 3 trades that just catapulted the account to a new high !

All entries were correct and even if the first showed a -75 pips drawdown it still returned +92 pips thus the importance of having confidence and patience.

Still the right thing to do here was to close Trade 1 at BE on wave 1 and re-enter on wave 2 having a total of 2 entries, I didn't close it because I had Trade 2 in profit which would have served as rescue plan for Trade 3 so overall I would have closed Trade 1 at a loss, a substantial one but I knew it and took the risk.

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It's just the beginning of a new trend but as I stated in an earlier post, I'm learning to take profits on pushes and re-enter on retracements, so I will wait for it and re-enter.
Simplicity is the Ultimate Sophistication.
  • #932
  • Apr 6, 2021 2:50pm Apr 6, 2021 2:50pm
Quoting visionxp
Nice Job BT!!!!
Thanks!
Simplicity is the Ultimate Sophistication.
  • #933
  • Apr 6, 2021 3:07pm Apr 6, 2021 3:07pm
Quoting broketrader
I'm done for today with these 3 trades that just catapulted the account to a new high ! All entries were correct and even if the first showed a -75 pips drawdown it still returned +92 pips thus the importance of having confidence and patience. Still the right thing to do here was to close Trade 1 at BE on wave 1 and re-enter on wave 2 having a total of 2 entries, I didn't close it because I had Trade 2 in profit which would have served as rescue plan for Trade 3 so overall I would have closed Trade 1 at a loss, a substantial one but I knew it and...
An amazing day & week Sir, very well done!

When will you be changing your FF name?
“The waiting is the hardest part” Tom Petty
  • #934
  • Apr 6, 2021 3:14pm Apr 6, 2021 3:14pm
Quoting SirViver
{quote} An amazing day & week Sir, very well done. When will you be changing your FF name?
Thanks!
But you know it, one good trade means nothing.

Last year I went over 12K starting with 1K, and then straight to zero LOL, and yes I had a good trade today but I'm still not there...
This year, same guy, same system but with improvements and lot of homework done.

I'm focusing in reaching small steps every month, so we will see...
Simplicity is the Ultimate Sophistication.
  • #935
  • Apr 7, 2021 8:44am Apr 7, 2021 8:44am
Hello everyone, the strategy is very profitable ..... in my opinion it must not be changed and upset but patiently make things simple .... enjoy
p.s. sorry my english but i'm italian
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  • #936
  • Apr 7, 2021 12:44pm Apr 7, 2021 12:44pm
eurusd .....
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  • #937
  • Apr 8, 2021 12:45am Apr 8, 2021 12:45am
Quoting broketrader
As the previous months did, march showed me the good and the bad... We had 2 really good trends 7 and 11 where I made some profits but I still didn't trade those trends well enough... In between we had trends 8,9 and 10, a range where I totally messed up and lost all my previous profits. Well, I think you always have to pay for any lesson... {image} So I have been thinking and re-thinking again how I could ride the better possible those nice trends while navigating at the same time those troubled waters without too much damage for the account......
why does your and mine looks different
its eurusd FXCM ,trading view
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  • #938
  • Apr 8, 2021 1:04am Apr 8, 2021 1:04am
Quoting sunny163
{quote} why does your and mine looks different its eurusd FXCM ,trading view {image}
I'm using an improved version that removes a bit the noise, I will clean it up and upload the file soon...
Simplicity is the Ultimate Sophistication.
  • #939
  • Apr 8, 2021 1:52am Apr 8, 2021 1:52am
Quoting sunny163
{quote} why does your and mine looks different its eurusd FXCM ,trading view {image}
You can now download the updated file on post 1 ( SmaSRSI-2021.txt )
Simplicity is the Ultimate Sophistication.
  • #940
  • Apr 8, 2021 1:54am Apr 8, 2021 1:54am
Quoting broketrader
{quote} You can now download the updated file on post 1 ( SmaSRSI-2021.txt )
thank you I will update it
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