Disliked{quote} I will have to hold off on a thread at this time. I would like to but right now I'm spending most of my free time with the family or reviewing charts. ...Ignored
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Software tools for LauraT's Roadmap 167 replies
Forex Brokerage Roadmap 4 replies
Best way to read all of someone's posts? 3 replies
Simple way to read chart 11 replies
Disliked{quote} I will have to hold off on a thread at this time. I would like to but right now I'm spending most of my free time with the family or reviewing charts. ...Ignored
DislikedCouple trades today and off for the rest of the week. If you look at AUD/USD you can see its getting stronger over the last few days while EUR/USD is still fairly weak which was another reason i was looking for EA to drop. Also AU had pretty much the same entries. You may also notice how im not set 100% in price doing one thing. I try to have a plan and act upon what price gives me. 1st picture has what was going through my head and the play by play 2nd picture is the same as 1st just no notes 3rd picture showing EUR/USD, AUD/USD and EUR/AUD {image}{image}{image}...Ignored
DislikedCouple trades today and off for the rest of the week. If you look at AUD/USD you can see its getting stronger over the last few days while EUR/USD is still fairly weak which was another reason i was looking for EA to drop. Also AU had pretty much the same entries. You may also notice how im not set 100% in price doing one thing. I try to have a plan and act upon what price gives me. 1st picture has what was going through my head and the play by play 2nd picture is the same as 1st just no notes 3rd picture showing EUR/USD, AUD/USD and EUR/AUD {image}{image}{image}...Ignored
Disliked{quote} Is the blue oscillator overlaid on the CompRSIselect - is it williams%? Thanks.Ignored
DislikedCouple trades today and off for the rest of the week. If you look at AUD/USD you can see its getting stronger over the last few days while EUR/USD is still fairly weak which was another reason i was looking for EA to drop. Also AU had pretty much the same entries. You may also notice how im not set 100% in price doing one thing. I try to have a plan and act upon what price gives me. 1st picture has what was going through my head and the play by play 2nd picture is the same as 1st just no notes 3rd picture showing EUR/USD, AUD/USD and EUR/AUD {image}{image}{image}...Ignored
DislikedMy stops are typically very tight with 3-5 pips above/below swing. Adding spread when needed. I may do more if we are close to support resistance or a large number. Also if i have lots of wick movement i may increaseIgnored
DislikedYes i will risk 3% of account balance sometimes even more depending on the setup. check out https://www.forexfactory.com/thread/...8#post13739768. Initially it is hard to deal with but i don't risk 3% until im already 35% or more above my initial account balance. So loosing 3% isn't the end of the world. I also have done enough back testing in the simulator to know its very rare for me to lose more than 3 trades in a row. As my account balance dips below 35% i reduce risk to 2%. My win/loss rate is the same regardless of the...Ignored
Disliked{quote} I think this is a good strategy. I personally think that a key to optimizing performance is minimizing the stoploss (but this is obviously super challenging, which is why suspect Laura goes with wider stops). {quote} That makes sense from a psychological perspective. When risking large fractions of the account and taking multiple positions, I would imagine you would start to increase leverage significantly. Do you worry about the portfolio-wide risk of price shocks or black swan events? I'm perpetually worried about this kind of thing happening, particularly since I also tend to have very large position sizes based on small stops. How many positions will you tend to take on at once? Another related question or point for discussion is whether to kind of stack trades the way you've done in the attached image above OR just take one trade at the beginning with a larger risk/position. In my own strategy, I'm finding that the follow-on trades tend to have a lower win rate, because they are further down in the price series and if the move is a false breakout, those later trades tend to get taken out first.Ignored
Disliked{quote} Not sure i follow 100%. I think i may have not been very clear in my previous post. The image on the left shows multiple potential entries and how i would place my stop just above that small swing for each "potential" entry (i would not have 4 open entries at 3% unless maybe i had already locked them in with profit). The image on the right shows how i would increase the stop distance based on resistance or big numbers. I will try to post some more trades with my stops and why i placed it where i did. For the most part i dont take multiple...Ignored
DislikedHi, First thing first, I want to say upfront that I'm not here to sell anything. All information shared is, and will always be, free. I also want to thank everyone whose indicators I make use of. There are too many to thank individually so please accept a collective thanks. I recently decided to stop lurking and join Forex Factory. Trading has provided me with a nice lifestyle over the years and I enjoy giving back. Up until recently I've been privately mentoring a trader but he has progressed to a level where he doesn't require as much input from...Ignored
Disliked{quote} oh, yes, that makes sense that you wouldn't take on many entries at 3%. Probably not a good idea to take on that much risk. And yeah, I totally get you on kind of bumping up the stop if there is a round number or significant resistance. That's probably a good way to view the trading money. Although I imagine if you really want to compound your returns, you would end up with a very large account soon enough where the stress levels would increase (especially if you are able to get enough weeks with 40% plus!). I don't know if your goal is...Ignored
Disliked{quote} That's the mental hurdle you have to get over. You cant focus on the money as it doesn't really matter. If your risking 3% of $100 or 3% of $1,000,000 its the same risk percentage. However if we are getting emotional maybe we're risking money that we can afford to loose or aren't willing to loose. Initially i would withdraw 20% of my monthly profits and place them in my Bank. Once i pocketed my original account balance i will say the emotion/stress really subsided. There is very little stress now trading the lot sizes i do. But by the time...Ignored
Dislikedhow did you decide where to place your stoploss/where do you place it? My stops are typically very tight with 3-5 pips above/below swing. Adding spread when needed. I may do more if we are close to support resistance or a large number. Also if i have lots of wick movement i may increase {image} Second, are you indeed risking 3% per trade? If so, do you experience the 3% hit often? For me that would be hard to deal with psychologically, if not from a limiting drawdown perspective. Yes i will risk 3% of account balance sometimes even more depending...Ignored
Disliked{quote} Nice. It's really great to hear a success story like this. I could see how you if view most of your current trading account as profits, it's not so psychologically difficult to risk it. I'll tell you what I really worry about, though, and that is a negative balance. I was around for the Swiss national Bank crisis where we saw a massive gap on CHF pairs. Fortunately, I didn't have a position on at the time, but I definitely could've. I...Ignored
DislikedThanks ChubbyWookie for all your valuable posts in here.. On which TF do you take your majority of your trades and how do you decide which TF to go for?Ignored
Disliked{quote} Double-checking: The settings of the CompRSIselect indicator in your template are: TimeFrame 1 - 240 Timeframe 2 - 1440 TimeFrame 3 - 0 Timeframe 4 - 0 Is this correct? And thank you very much for posting.Ignored