The brutal truth of day trading | Page 143 | Forex Factory

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The brutal truth of day trading

  • #2,841
  • Aug 5, 2021 4:14pm Aug 5, 2021 4:14pm
Quoting Wags
{quote} Thats great but whats the point if you cannot guarantee its working, get a realtime trading thread going where people show theyre entries as it happens So easy to show a trade in history it makes me laugh people who post history trades
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDdaily.png Size: 29 KB
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFDaily.png Size: 32 KB
  • #2,842
  • Aug 5, 2021 4:16pm Aug 5, 2021 4:16pm
Quoting Techanalyst
{quote} {image}{image}

all you need todo now is explain why you took the trades lol

Apart from the negative correlation
  • #2,843
  • Aug 5, 2021 4:16pm Aug 5, 2021 4:16pm
Quoting RickM
{quote} Hi GEfx This may explain why I have problems with slippage and widening spreads with brokers when I trade larger lot size. I trade Acute Liquidity Runs (ALR's) which are trades in areas of extremely low liquidity in either bids or asks. The larger the trade size in low liquidity areas, the higher the slippage and thats a problem for me as I am only taking micro trades when I see the Bids or Asks hit Zero on a footprint Futures chart. Spread size becomes invalid at times just like spreads wider seconds before Red News hits. This is a MT4...
That makes perfect sense. Thanks for sharing. I placed the E$ on the shelf this morning due to sluggish behavior, and what seems to be the fact that it is in utter limbo for the time being. It took some doing but I worked the G$ today. It's interesting the look at the two charts right now, with the E$ pretty much stuck at yesterdays low, while the G$ is hovering near it's peak in todays trading. I think the behavior of these two pairs has been really interesting to watch over the last few years.

NFP tomorrow morning. Get as much as you can!
  • #2,844
  • Aug 5, 2021 4:18pm Aug 5, 2021 4:18pm
Quoting Wags
{quote} all you need todo now is explain why you took the trades lol
Simple, fundamentally US is stronger than EUR and CHF. Second confirmation is supply/demand zones on daily. I use charts to analyze supply/demand, that's it.
  • #2,845
  • Aug 5, 2021 4:20pm Aug 5, 2021 4:20pm
Quoting Techanalyst
{quote} Simple, fundamentally US is stronger than EUR and CHF. Second confirmation is supply/demand zones on daily. I use charts to analyze supply/demand, that's it.

CHF has been really strong until this week?

Do you think USD is going down soon though?
  • #2,846
  • Aug 5, 2021 4:25pm Aug 5, 2021 4:25pm
Quoting Wags
{quote} CHF has been really strong until this week? Do you think USD is going down soon though?
Well CHF compare to USD is not strong. GDP and interest rate for US is much better then CHF. So I pay attention to that plus supply/demand zones. I am not sure if USD will go down soon, but so far USDCHF has created a fresh demand zone on a daily and it should go up from here. Forecast is that in about 12 months USDCHF will trade at 0.93. EURUSD forecast is it will be traded at 1.17 in about 12 months. But this is just a forecast it could happen much sooner.
https://tradingeconomics.com/
  • #2,847
  • Aug 5, 2021 4:27pm Aug 5, 2021 4:27pm
Quoting Techanalyst
{quote} Well CHF compare to USD is not strong. GDP and interest rate for US is much better then CHF. So I pay attention to that plus supply/demand zones. I am not sure if USD will go down soon, but so far USDCHF has created a fresh demand zone on a daily and it should go up from here. Forecast is that in about 12 months USDCHF will trade at 0.93. EURUSD forecast is it will be traded at 1.17 in about 12 months. But this is just a forecast it could happen much sooner. https://tradingeconomics.com/
Apologies i didnt have my galsses on its a daily chart for longer period, i was referring to shorter TF
  • #2,848
  • Aug 5, 2021 4:32pm Aug 5, 2021 4:32pm
Quoting Wags
{quote} Apologies i didnt have my galsses on its a daily chart for longer period, i was referring to shorter TF
No worries, I can't say about lower time frames. I don't trade lower time frames. Here is DXY daily chart, I think it has more room to go up.
Attached Image (click to enlarge)
Click to Enlarge Name: DXY.png Size: 73 KB
  • #2,849
  • Aug 5, 2021 4:36pm Aug 5, 2021 4:36pm
Quoting STrading
{quote} There is only one trader in this forum that i respect, its ATA from the EUR/USD thread, i dont know if he is profitable or not, but it seems like he has a style of trading and sticks to it, he makes live calls on the thread and doesnt brag about crazy statistic numbers or whatever. And if someone his wondering, i dont follow his calls and i dont trade the way he does, so i really dont know how good he is or not, i just stop by his thread from time to time and i like how he manages to stick to is plan and style and how he manages the thread....
LOL
Learn from your mistakes and march on.
  • #2,850
  • Aug 5, 2021 4:38pm Aug 5, 2021 4:38pm
Quoting Wags
Ill tell you what im quite happy to to create a thread where there you can post your trades manual trading, bot trading if you want no set strategy, but you explain why you entered the trade and how you will manage and exit I wonder who will take me up on it? Todays trades so far {image} {image} {image}
Good luck with that! Most people in here wouldn't do this. And it's almost certain braggers won't do this.
Learn from your mistakes and march on.
  • #2,851
  • Aug 5, 2021 4:44pm Aug 5, 2021 4:44pm
Quoting here2there
{quote} Good luck with that! Most people in here wouldn't do this. And it's almost certain braggers won't do this.
Would be a nice thread though
  • #2,852
  • Aug 5, 2021 4:57pm Aug 5, 2021 4:57pm
Quoting Wags
{quote} Would be a nice thread though
It wont happen and we all know why.
As for me i wouldnt have nothing to contribute to the thread as i am not profitable, or maybe i can show some people how to blow a account with a 90% winrate just for fun.
  • #2,853
  • Aug 5, 2021 5:04pm Aug 5, 2021 5:04pm
Quoting Techanalyst
{quote} No worries, I can't say about lower time frames. I don't trade lower time frames. Here is DXY daily chart, I think it has more room to go up. {image}

Its really weird i have seen all your trades as an opposite trade for me, but then again i have never been successful at trading mid ranges
  • #2,854
  • Aug 5, 2021 5:04pm Aug 5, 2021 5:04pm
Quoting Wags
{quote} Would be a nice thread though
There is a thread like it. I started one here. But it didn't go over well.
Learn from your mistakes and march on.
  • #2,855
  • Aug 5, 2021 5:10pm Aug 5, 2021 5:10pm
Quoting here2there
{quote} There is a thread like it. I started one here. But it didn't go over well.

Its a great idea but we all know it will never work, the only way it would work is if you know the people posting are actually long term successful traders and even then the market can switch and kill a lot of profitable strategies in a heart beat, A successful trader has to change with the market and notice whats happening
  • #2,856
  • Aug 5, 2021 6:41pm Aug 5, 2021 6:41pm
Quoting Wags
{quote} Its a great idea but we all know it will never work, the only way it would work is if you know the people posting are actually long term successful traders and even then the market can switch and kill a lot of profitable strategies in a heart beat, A successful trader has to change with the market and notice what's happening
yes, that's the key, as I scalp GBPUSD I do take note of other XXX/USD.
  • #2,857
  • Aug 5, 2021 6:58pm Aug 5, 2021 6:58pm
Quoting Wags
{quote} Its really weird i have seen all your trades as an opposite trade for me, but then again i have never been successful at trading mid ranges
Ok... look at these two charts that i will attach... doesnt matter what pair it is, or in this case timeframe, but just this once... where do you think this pair is going up or down?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDdaily.png Size: 18 KB
Click to Enlarge Name: EURUSDM5.png Size: 18 KB
  • #2,858
  • Aug 5, 2021 7:31pm Aug 5, 2021 7:31pm
Quoting Techanalyst
{quote} Ok... look at these two charts that i will attach... doesnt matter what pair it is, or in this case timeframe, but just this once... where do you think this pair is going up or down? {image} {image}
When you ask where do you think this pair is going up or down, what timeframe area you referring to? In the case of the first screenshot, if the candles are Daily then I'd say down but if the candles are M1 then I'd say up.
  • #2,859
  • Aug 5, 2021 7:56pm Aug 5, 2021 7:56pm
Quoting Techanalyst
{quote} Ok... look at these two charts that i will attach... doesnt matter what pair it is, or in this case timeframe, but just this once... where do you think this pair is going up or down? {image} {image}
Instantly up
  • #2,860
  • Aug 5, 2021 8:04pm Aug 5, 2021 8:04pm
Quoting BWilliam
{quote} Thank you for the explanation, I understand you perfectly. I was looking for the details of RickM's volume strategy to understand correctly his claim. You have provided what I was looking for. Now I understand better what RickM's volume scalping strategy is all about. You have clarified everything. Just one more question to complete the clarification, does Profitfarmer scalp the same way in terms of the money management aspect using basket trades and hedging?
Hi BWilliams

ryuryu explained it very well, we are only concerned about draw down when we trade, I don’t think ryuryu, Zoltan and myself have ever once talked about win rates.

Not once.

My trading setups are designed to be precise and I never accept draw downs over 0.15% at any time. I will hedge at about 5-7 pips in DD on EURUSD.

Lets look at last nights trading, ryuryu nailed 100% and I got 98% win rate success. So I took 41 trades which is rather low, 36 per single entry single exit, 4 were double entry and I took one lost because I wasn’t in the mood to hedge. That loss was 0.15% of my equity only so a very small loss.

My aim is to achieve one milestone (stupid name ryuryu came up with) per trading session which is 0.25% increase in equity so we are earning a wage foremost, but attempting to hit 1% or more for great return.

I just don’t believe in no stop loss high draw down, I believe in no stop loss, protect equity at 0.15% which I only need to do on average once or twice a evening.

Trading thin liquidity is highly profitable and the only barrier in making very high profits is how much draw down you are winning to accept.

I don’t gamble with high draw down.

Cheers Rick
Trading thin liquidity at the boundary of the charts
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