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Good strategy but something's wrong

  • #1
  • First Post: May 11, 2021 7:38am May 11, 2021 7:38am
Hello, i have problem and idk what kind of problem. I know its sound weird, but let me explain. I work on my strategy for some time, then i finally end developing. I checked it on demo and with historical data base. The results was around 75% per day, its scapling strategy with 30-50 trades per day. Then i decide to go live. I fund my acc and i started. My acc balance goes up and down, up, down, up, down. Its now 3rd mth of my live trading and after every single day i check setups for that day and i see many of trades which i should to take but i didnt. Most of them are profitable. I know i make few mistakes: i close profit trades to earlie, i miss a lot of them, sometimes i get angry (by the time is less often), i forget about pairs on which i had setups (sometimes i see many opportunities for entries). Last days are terrible for me, im just losing every single day, and quess what, after the session, by checking charts i missed great entries.
Maybe someone will have some idea or advice for me.
  • #2
  • May 11, 2021 1:04pm May 11, 2021 1:04pm
Quoting aspik
Maybe someone will have some idea or advice for me.
Read Trading in the Zone by Mark Douglas.
  • #3
  • May 11, 2021 1:13pm May 11, 2021 1:13pm
It could be that in your demo account you didn't factor in spreads, commissions and slippage. Those are HUGE factors that need to be taken into account, especially for scalping.
  • #4
  • May 11, 2021 1:59pm May 11, 2021 1:59pm
Quoting aspik
The results was around 75% per day


Quoting aspik
Maybe someone will have some idea or advice for me.
Observer effect
  • #5
  • May 11, 2021 3:42pm May 11, 2021 3:42pm
Quoting ccrkk10
It could be that in your demo account you didn't factor in spreads, commissions and slippage. Those are HUGE factors that need to be taken into account, especially for scalping.
i take those factors in calculating.
  • #6
  • May 11, 2021 3:44pm May 11, 2021 3:44pm
Quoting ryuryu
{quote} {quote}
?? sth more or just emoji ? Or u dont understand what i wrote? If u dont want to help just dont answear
  • #7
  • May 11, 2021 4:19pm May 11, 2021 4:19pm
Everything changes once real money is on the line. That's why playing around on demo or paper trading is useless in my opinion. You will lose money its best to get it out of the way. You need to get used to losing and for it not to bother you...this is harder then it sounds.
  • #8
  • May 11, 2021 4:29pm May 11, 2021 4:29pm
Quoting Redbaron81
Everything changes once real money is on the line. That's why playing around on demo or paper trading is useless in my opinion. You will lose money its best to get it out of the way. You need to get used to losing and for it not to bother you...this is harder then it sounds.
Well paper trading and demo its good for testing the strategy. But you right, its useless if someone wants to learn from it. So Your advice is to keep trading, start accepting loses. The problem is my emotions and "lack of habit" to losing ?
  • #9
  • May 11, 2021 4:43pm May 11, 2021 4:43pm
Overtrading is a key problem you have to deal with. Trade a few pairs, say 1-3 initially, and don't open more than two trades at a time.

KP
Do your homework, follow the footprints of smart money
  • #10
  • May 11, 2021 4:56pm May 11, 2021 4:56pm
Quoting KeenPips
Overtrading is a key problem you have to deal with. Trade a few pairs, say 1-3 initially, and don't open more than two trades at a time. KP
i dont think about it, maybe u also right. I need to think about it and try it
  • #11
  • May 11, 2021 5:17pm May 11, 2021 5:17pm
Quoting aspik
{quote} Well paper trading and demo its good for testing the strategy. But you right, its useless if someone wants to learn from it. So Your advice is to keep trading, start accepting loses. The problem is my emotions and "lack of habit" to losing ?
Your problem is not being able to take a stop loss without emotions. You said it yourself you let looses run and cut winners short. When you should be doing the opposite.
  • #12
  • May 11, 2021 5:50pm May 11, 2021 5:50pm
If you have a strategy like you write why not take the profit and close, wait for the next opportunity.
Where is the problem.
it's easy
  • #13
  • May 11, 2021 6:15pm May 11, 2021 6:15pm
Quoting kette
If you have a strategy like you write why not take the profit and close, wait for the next opportunity. Where is the problem. it's easy
i was thinking the same way before open live acc, then emotions came up and emotions change a lot
  • #14
  • May 11, 2021 6:17pm May 11, 2021 6:17pm
Can you setup a condition that triggers alerts to avoid missing trades ? The alert method does not have to be a part of your trading method, just something that triggers when a condition appears. For example, you may trade with CCI or some other oscillator to confirm a move but you could also use an EMA or LWMA cross to coincide and give an alert. There are many ways to do it and lots of ways of triggering alerts regardless of your particular strategy. As for exiting early, that is a mental thing - you maybe need some conditioning. Do as KeepPips abive suggested and use small lots and fewer trades until you are relaxed and comfortable. Good luck.
  • #15
  • May 11, 2021 6:22pm May 11, 2021 6:22pm
Quoting aspik
Hello, i have problem and idk what kind of problem. I know its sound weird, but let me explain. I work on my strategy for some time, then i finally end developing. I checked it on demo and with historical data base. The results was around 75% per day, its scapling strategy with 30-50 trades per day. Then i decide to go live. I fund my acc and i started. My acc balance goes up and down, up, down, up, down. Its now 3rd mth of my live trading and after every single day i check setups for that day and i see many of trades which i should to take but...
I take 50 to 100 trades a day and I have no issues (the odd loss) because I demo traded the strategy via a EA on demo account for months, I also studied the historical data on many pairs for six months before I started so the question I need to ask you is what time are you trading the strategy.
The time of day you trade it is very important along with the pairs you select.
Lastly some weeks are great and some suck, do you know the difference.

Cheers
Trading thin liquidity at the boundary of the charts
  • #16
  • May 11, 2021 6:24pm May 11, 2021 6:24pm
Quoting AltosTrader
Can you setup a condition that triggers alerts to avoid missing trades ? The alert method does not have to be a part of your trading method, just something that triggers when a condition appears. For example, you may trade with CCI or some other oscillator to confirm a move but you could also use an EMA or LWMA cross to coincide and give an alert. There are many ways to do it and lots of ways of triggering alerts regardless of your particular strategy. As for exiting early, that is a mental thing - you maybe need some conditioning. Do as KeepPips...
i cant or i dont figure it out, im not the best in coding
  • #17
  • May 11, 2021 6:25pm May 11, 2021 6:25pm
Quoting RickM
{quote} I take 50 to 100 trades a day and I have no issues (the odd loss) because I demo traded the strategy via a EA on demo account for months, I also studied the historical data on many pairs for six months before I started so the question I need to ask you is what time are you trading the strategy. The time of day you trade it is very important along with the pairs you select. Lastly some weeks are great and some suck, do you know the difference. Cheers
i trade from 9am to 4/5 pm UTC +2
  • #18
  • May 11, 2021 6:29pm May 11, 2021 6:29pm
Quoting aspik
{quote} i trade from 9am to 4/5 pm UTC +2

best time to trade, don't get greedy take your profit
  • #19
  • May 11, 2021 6:42pm May 11, 2021 6:42pm
Quoting aspik
{quote} i trade from 9am to 4/5 pm UTC +2
Hi aspik

That’s a long trading day, most of that day is a waste of time.

Please define what time you get most of your best trades.
i.e. My best trades are at London open for one hour, London mid session, change over of London New York etc.

The question I am asking is what time is your sweet spot for trading your strategy.
Trading thin liquidity at the boundary of the charts
  • #20
  • May 11, 2021 11:00pm May 11, 2021 11:00pm
When real money is involved real emotions kick in.
Without despair & distraught, focus on Patience to FRESH MOTiVES.
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