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1H Swing Trading on EURUSD

  • #1,021
  • Oct 25, 2021 7:53am Oct 25, 2021 7:53am
You got this...
You learn something everyday if you pay attention.
  • #1,022
  • Oct 28, 2021 9:14am Oct 28, 2021 9:14am
My greed killed me again but haven't decided yet to give up...

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Not focusing anymore on recovering till end of year as it will be impossible but instead going percent after percent...
Simplicity is the Ultimate Sophistication.
  • #1,023
  • Oct 28, 2021 11:09am Oct 28, 2021 11:09am
"Yet" - What kind of talk is that?
Incorporate some profit taking benchmarks - Yes
You absolutely ROCK!!!!
You learn something everyday if you pay attention.
  • #1,024
  • Oct 28, 2021 11:23am Oct 28, 2021 11:23am
Quoting broketrader
My greed killed me again but haven't decided yet to give up... {image} Not focusing anymore on recovering till end of year as it will be impossible but instead going percent after percent...
Hi bro how are you.
bro you can list down all the reasons why you are losing money. Hope you will improve a lot. Best of luck
MA provides the market's current direction and strength.
  • #1,025
  • Oct 28, 2021 5:30pm Oct 28, 2021 5:30pm
Quoting visionxp
"Yet" - What kind of talk is that? Incorporate some profit taking benchmarks - Yes You absolutely ROCK!!!!
I don't know if it's first or second degree, if that you're laughing at me or encouraging because English not being my mother tongue I could be sometimes missing the meaning of an expression but it's not important because whatever it is, certainly I deserve and accept both, I don't rock but my system does, I know it, I'm just not capable of executing correctly so I need to focus in finding the missing ingredient...

Quoting hasib
{quote} Hi bro how are you. bro you can list down all the reasons why you are losing money. Hope you will improve a lot. Best of luck
Hi, I'm fine, thank you! That's just what I'm doing and have already defined some issues with goals to fix them:

  1. Issue: Adding additional trades to the original one because of greed or will to recover quickly.
    Fix: Only allow 1 single trade from begin to end, it already embeds the maximum risk I can take per trade, no need to add more.
  2. Issue: Expecting fast results from a system that needs the trend to develop to show results.
    Fix: Instead of adding to the trade as in 1, expand my time horizon to a quarter and only measure results every quarter, not every trade or month.
  3. Issue: Lack of commitment in respecting system rules and trading capital.
    Fix: Stop depositing thousands in the account as it's already red more than 6k, From now on, I will only deposit a couple of hundred at end of month to help accelerate the recovery but only if I can demonstrate that all my trades are executed correctly during that month.

And as Winston S. Churchill once said
"Success is stumbling from failure to failure with no loss of enthusiasm"

The enthusiasm is still there but it's true that I'm a bit tired.
Till the next

Simplicity is the Ultimate Sophistication.
  • #1,026
  • Oct 29, 2021 1:06am Oct 29, 2021 1:06am
Quoting broketrader
{quote} I don't know if it's first or second degree, if that you're laughing at me or encouraging because English not being my mother tongue I could be sometimes missing the meaning of an expression but it's not important because whatever it is, certainly I deserve and accept both, I don't rock but my system does, I know it, I'm just not capable of executing correctly so I need to focus in finding the missing ingredient... {quote} Hi, I'm fine, thank you! That's just what I'm doing and have already defined some issues with goals to fix them: Issue:...
Bro I have observed all you trade in h1 and h4 tf. If you allow me, I want to share my observations and brutal criticism. I am hoping you will find few good points from my criticism. If you ok with criticism let me know.
Best of luck
MA provides the market's current direction and strength.
  • #1,027
  • Oct 29, 2021 2:04am Oct 29, 2021 2:04am
Quoting hasib
{quote} Bro I have observed all you trade in h1 and h4 tf. If you allow me, I want to share my observations and brutal criticism. I am hoping you will find few good points from my criticism. If you ok with criticism let me know. Best of luck
I only trade the 1h time frame, go ahead with your criticism as long as it's constructive.
Simplicity is the Ultimate Sophistication.
  • #1,028
  • Oct 29, 2021 4:40am Oct 29, 2021 4:40am
Quoting broketrader
{quote} I only trade the 1h time frame, go ahead with your criticism as long as it's constructive.
Ok Lets start. I tried to personally message you but your message options is off that is why I share publicly, Hope you don't mind.

1. You are trading one currency pair EurUSD, Buy observing your trade entry and exit, I don't think you understand EurUsd move well.
2. I don't think you have solid MM plan and position sizing plan.
3. You try to target home run but when market conditions change you seems don't care your trade and you hold the trade.
4. You don't use partial close.
5. You have to improve your market structure understanding.
6. You open good trade and you perform very well when market is trending, when market is not trending you lose more.
7. In slow market you open too many trade. but you don't close few trade in possible Point of inters (POI)
8. I don't think you test your system properly, If you objectively test your system you would not use this system at all.
9. You need to have exit plan, you can use ATR multiplier, ADR levels, RN levels, your personal intuitions etc
10. You believe every strength and every weakness of the market, You follow CS pattern but without proper back test data
11. You don't have awareness about what is moving the market currently, I mean major economic news like ECB etc.
12. if you trade only one TF H1, I think your making mistakes, To understand market order flows, you have to watch at list W1 chart at the beginning of the week, MN chart at the beginning of the months, D1 chart once a day.
13. With proper observations you have to identify what's are looking for and what's your avoiding. Market is changing so you can not expect same setup that will work every day.
14. I see you trade Trend continuations a lot, I think you would be much better stock trader, In eurusd Trend continuations works but differently, Familiarize yourself with mean reversion, if your trend trader, trade the trend with your mean reversions, By doing this you will be advance trader.

This are the observations, I draw from your trade and my little knowledge, You may disagree, you may agree few, If you agree few go and improve those.
I may be wrong in my observations, Since I did not follow you before.
If you take those positively, I think you will start improving, Best of luck.
MA provides the market's current direction and strength.
  • #1,029
  • Oct 29, 2021 5:41pm Oct 29, 2021 5:41pm
Always encouraging... I never laugh at anyone but myself
You learn something everyday if you pay attention.
  • #1,030
  • Nov 1, 2021 10:37am Nov 1, 2021 10:37am
Not that it matters too much, but consider changing your name to something neutral or more positive to your trading endeavours. "broke"Trader isn't a good name in my opinion.
  • #1,031
  • Nov 5, 2021 2:33am Nov 5, 2021 2:33am
Finally a first good week after my previous fall.

Added an additional piece to the puzzle that allows me to take profits quicker even without a good trend, it seems perfect on back tests, I don't know if I will be able to trade it correctly in the future but it worked quite well this week and this even without executing it perfectly.

Made 4 winning trades in a row with 3 of them at +55, +52 and +56 pips on an almost flat market, for a total of 150+ pips which is the equivalent of what I could make before on a good trend so no doubt this is the way to go.

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Deposited 160$ more on my account, got some bonus from the broker and in addition to this week gains, the account has recovered a bit to -87% from -99%
A good first step I'm happy with.

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Simplicity is the Ultimate Sophistication.
  • #1,032
  • Dec 27, 2021 11:08am Dec 27, 2021 11:08am
Maybe you should watch all major pairs and trade only pairs that are trending nicely. EURUSD is a mess right now. Look at USDJPY for instance.
"Be the change that you wish to see in the world." --Gandhi
  • #1,033
  • Jan 3, 2022 12:28pm Jan 3, 2022 12:28pm
How's you BT??? Happy New Year
You learn something everyday if you pay attention.
  • #1,034
  • Jan 7, 2022 4:35am Jan 7, 2022 4:35am
Quoting Wally1953
Maybe you should watch all major pairs and trade only pairs that are trending nicely. EURUSD is a mess right now. Look at USDJPY for instance.
Not now. Messy times are Ok, I just need to learn how to handle them, it's a work in progress...

Quoting visionxp
How's you BT??? Happy New Year
Hi Vision!
I'm Good thanks, and as you can see, I have not yet given up on this , just decided to shut my mouth until I recover

I hope both of you are well too, I send you my best wishes for the new year !
Simplicity is the Ultimate Sophistication.
  • #1,035
  • Jan 7, 2022 8:51am Jan 7, 2022 8:51am
Quoting broketrader
{quote} Not now. Messy times are Ok, I just need to learn how to handle them, it's a work in progress... {quote} Hi Vision! I'm Good thanks, and as you can see, I have not yet given up on this , just decided to shut my mouth until I recover I hope both of you are well too, I send you my best wishes for the new year !
Happy New Year to you!
"Be the change that you wish to see in the world." --Gandhi
  • #1,036
  • Jan 20, 2022 10:17pm Jan 20, 2022 10:17pm
Yes - Healthy Happy and always learning...
2022 Here we are!
You learn something everyday if you pay attention.
  • #1,037
  • Jan 21, 2022 9:11am Jan 21, 2022 9:11am
@broketrader
I am following you since you opened TE live. My heart goes out to see you keep coming back without any changes or improvement. Either your system or phycology not working out. I am nobody to you but please can you take a break or lower your risk for a while to see how it goes. Take it in positive way
Be Greedy
Dices Return This Week: na
  • #1,038
  • Jan 28, 2022 2:16am Jan 28, 2022 2:16am
Quoting AKCodingEye
@broketrader I am following you since you opened TE live. My heart goes out to see you keep coming back without any changes or improvement. Either your system or phycology not working out. I am nobody to you but please can you take a break or lower your risk for a while to see how it goes. Take it in positive way
Hi @AKCodingEye !

You are not correct on one thing, even if the results are not there yet, believe it or not, there are changes and improvements ongoing. The problem is that it all works very well on replay but not live because of the points I explain below.

You're half correct regarding system and psychology, I had to adapt the first, the system, which is still globally the same but with some important tweaks. And I'm in the process of completely changing the psychology, I have a problem with patience, I go for fast and large profits and explode my risk which is already large from start.

To put an end to this, I'm now setting short goals to my trading. I have divided the year in 4 sections of 12/13 weeks each and have categorized those sections,
Novice, Beginner, Competent, Proficient and to finish being Expert if I ever reach that milestone. I consider myself now as a Novice trading my own system until I can prove to myself that I can trade it correctly for 12 weeks where I will progress to the next category, you see the idea...

It will be a long, full year process, every week has 5 days, I fill every day in green as long as I haven't broke any rule that day.
So my only goal now is to do that week after week, day after day, every day is a win.

On the money management side, I have also decided to stop putting money through the window like I have been doing these past weeks, so the plan is to limit the deposits I made to 100$/week, as long as the account is less than 1K. There is no sense in putting more, if I don't trade correctly with 100, I won't do it with 1k, and you will see that if I trade correctly the account will grow very fast meaning that I won't need the deposits for very long.

As I told previously, I'm a bit silent now but it's mainly because I'm focusing on the job that I have to do on myself but if you want to know a couple of things about me it's that I'm not afraid of failures and that I won't stop until I succeed. For me, there is nothing really serious in life except death, so take it easy because that's what I do.

Thanks to be on board and for your interest!
BT
Simplicity is the Ultimate Sophistication.
  • #1,039
  • Jun 14, 2022 9:29pm Jun 14, 2022 9:29pm
Absolutely love your last post my friend... Stay focused on your desired outcome - You Got This
You learn something everyday if you pay attention.
  • #1,040
  • Aug 26, 2022 6:58am Aug 26, 2022 6:58am
Believe it or not but I have reached a new level with a very advanced version of this system that I cannot publish here for good reasons.
Lol, I find myself writing like the guy that wants to sell something, but no worries, I don't want to sell anything except maybe some hope for myself lol.

It has been a very long and lonely walk in the desert... I'm thirsty... I see palm trees... are they real or is it a mirage ?

In any case, I wanted to draw a line in the sand with this post, start posting my new trades and see where I will go from here...

This one was the first of it, I did know how to enter but not completely how to exit. It was not 100% good but good enough!

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Now the system is ready and complete and I'm waiting for the next signal...
Simplicity is the Ultimate Sophistication.
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