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Setups are bunk?

  • #101
  • Jan 6, 2022 11:20am Jan 6, 2022 11:20am
Quoting MatDerKater
reason I took it, is because I get stopped out
No way! That can not be true! I don't believe.
How about your feelings for how the market behaves? Trader intuition? Voices in your head?

They were wrong??? Impossible

May be you should ask that guy with incredibly fresh trading idea (two moving averages EA) for help?
Observer effect
  • #102
  • Jan 6, 2022 11:28am Jan 6, 2022 11:28am
Quoting ryuryu
{quote} No way! That can not be true! I don't believe. How about your feelings for how the market behaves? Trader intuition? Voices in your head? They were wrong??? Impossible
I must confess, I also take trades that are losers.

'The SystemTM' that you have spent years researching and developing having another bad day at the office?

Don't worry, I am sure you could cover it all up to your wife if you maxed out your credit card, or maybe took out a remortgage on your home to fill in the ever increasing gaping black hole in your personal finances.

Aside from that, you really don't seem to have much to offer here other than your scorn and bile.....

P.S. Yeah, I got stopped out by literally 2 ticks, but my re-entry is shaping up nicely though. Half position size, but much better RR.....Keep your fingers crossed for me.
  • #103
  • Jan 6, 2022 6:04pm Jan 6, 2022 6:04pm
Quoting MatDerKater
{quote} I must confess, I also take trades that are losers. 'The SystemTM' that you have spent years researching and developing having another bad day at the office? Don't worry, I am sure you could cover it all up to your wife if you maxed out your credit card, or maybe took out a remortgage on your home to fill in the ever increasing gaping black hole in your personal finances. Aside from that, you really don't seem to have much to offer here other than your scorn and bile..... P.S. Yeah, I got stopped out by literally 2 ticks, but my re-entry...
Why don't you simply increase the SL?
A trade should be based on an assumption based on facts
  • #104
  • Jan 6, 2022 6:22pm Jan 6, 2022 6:22pm
Quoting maverick2017
{quote} Why don't you simply increase the SL?
Great idea!

MY SL was already extended beyond the logical SL level, as a rinse of the lows is likely on these skid-turn reversals, which is the reversal's that equities most commonly put in, as they are the hardest to trade.....but it wasn't extended by 2-3 ticks enough.....all very well looking back with hindsight and saying what I woulda shoulda coulda done......Stop Loss placement is one of the hardest things about trading, but 'they' say one must always use one.
  • #105
  • Edited 7:12pm Jan 6, 2022 6:42pm | Edited 7:12pm
Quoting MatDerKater
{quote} Great idea! MY SL was already extended beyond the logical SL level, as a rinse of the lows is likely on these skid-turn reversals, which is the reversal's that equities most commonly put in, as they are the hardest to trade.....but it wasn't extended by 2-3 ticks enough.....all very well looking back with hindsight and saying what I woulda shoulda coulda done......Stop Loss placement is one of the hardest things about trading, but 'they' say one must always use one.
If this happens often then just increasing SLs on every trade would be very beneficial.
Anyways, halving the position size is the sensible thing to do. This way you won't miss the trade and give you a better idea about placing SLs.
Tight SLs are put by people who want to feel like a hero if a trade goes their way.
Only my opinion.
A trade should be based on an assumption based on facts
  • #106
  • Jan 6, 2022 7:37pm Jan 6, 2022 7:37pm
Quoting ryuryu
{quote} No way! That can not be true! I don't believe. How about your feelings for how the market behaves? Trader intuition? Voices in your head? They were wrong??? Impossible May be you should ask that guy with incredibly fresh trading idea (two moving averages EA) for help?
The two MAs are for the EA to place trades, nothing else. How else is an EA supposed to place trades? What you're missing from what I'm saying is, I am not using any indicators whatsoever to determine which pairs to trade and in which direction. It's not ideal to use indicators for signals. I'm not saying they don't work, but not using indicators for signals, works better than any signal I've been able to extract from indicators, etc.
  • #107
  • Last Post: Jan 9, 2022 4:02am Jan 9, 2022 4:02am
Rather than set-ups, I'd say there are criterias being repeatedly met day in day out. I only use candles break on M5, and out of a basket of 30 pairs, at least a third of them will show the same type of behaviour, around a certain time. Now, I don't use indis, but there are folks here who employ them to great effect. The proof is in the pudding, as they say. And there are more than one way to cook it
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