Duck Hunting Strategy: 100$ to 1000$

2326SGT 20102022

Entry on HKDJPY Hourly Time Frame 50EMA for Oanda account

Entry on USDJPY Hourly Time Frame 50EMA for FTMO trial account Day One

No Take Profit level, exit via Trailing Stop or when price hits 1R Stop Loss

Note : Use FXTrade to activate trailing stop loss cos TradingView and Oanda trading platform sucks, and cannot properly set trailing stop after you have entered your orders.

2331SGT

1842SGT 21102022

For record purposes.

Day One OANDA ACCOUNT -

HKDJPY HOURLY



USDJPY FTMO DAY ONE -

USDJPY HOURLY



1843SGT

2249SGT 21102022

Re-entered after getting stopped out.


And got stopped out.

2332SGT

want to add that I have a conflict and the second trade shows the conflict.

Should I re-enter if opportunity arises immediately after I just got stopped out?

I have some thoughts now, that is maybe fi i have a small goal per month such as 3%, or maybe I could give myself a handicap of 2.5% per month as my goal. And if I attain that goal, I should seek to be precautious about re-entering.

Another thought is that, I should just give up that pair or its correlated pairs and seek for another new emerging setup with two new pull backs to the moving average and then seek to enter on the latest pullback when possible, and repeat?

2336SGT I want to off my laptop now.

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0151SGT 22102022

I can't sleep cos maybe I always cant sleep plus I drank coffee just now after dinner. I have propanolol 10mg prescription for fast heart beat but I am not going to take it because I took tylenol earlier for tmj ache.

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I have some recurring thoughts that I forgotten.

FTMO rules regarding 4weeks + 2 weeks extension forks up your trading psychology.

10% is doable but the length of time required is the pain that causes many people to trip and fall. When you trip and fall, you drop gold coins for FTMO to collect from you.

So, forget about FTMO. Theres better options out there, but all of them work in similar ways to FTMO, they all wait for you to trip and fall and drop gold coins.

3% a month is very doable and more realistic. Accept that as a fact, and save some money trading for our own funds is the best idea. Thats where the "trading is a get rich slow scheme" comes into play.

So, to solve my conflict with myself regarding if I should re-enter the market immediately if there's a setup present after we just got stopped out? The answer is I shouldn't. You just made 3.5%. That's more than your monthly goal.

Hold on to your money and wait for the next A+ setup. 2 Pullbacks, enter on the 3rd setup onwards, only enter once maybe? And then look for the next A+ setup, 2 pullback enter on the 3rd setup and keep repeating.

Another conflict came up, Should I only take 2 pullback enter on 3rd setup onwards once only and then dump the entire trend and repeat with 2 pullback enter on 3rd setup onwards again and repeat? Or could I keep entering on this same trend until it dies?

I think I should just take the trend once? I am not sure. I need to sleep on it.

0206SGT

2347SGT 24102022

Forgot that today is Monday until I saw that Hong Kong Index % is moving on my laptop's browser tab.

Saw that USDCNH broke out of the Major Consolidation on the 4 Hour Time Frame.

Price is respecting the 100EMA on the Hourly Time Frame.

Currently it has touched the 100EMA twice, will look to enter on the third touch of the 100EMA if I manage to.

HOURLY TIME FRAME -

Attached Image (click to enlarge)

2350SGT


4 HOUR TIME FRAME -

Attached Image (click to enlarge)

2352SGT

2354SGT

Forgot to add that I need price to trend on the 4 Hour Time Frame for two days minimum, first, and trending on the 10/20EMA only. Only then I could consider taking the 3rd and subsequent pullbacks on the Hourly Time Frame's 100EMA.

I would only take one setup per Range, Breakout, Trend of the 4 Hour Time Frame.

Quantity is not the key for me in the current times.

Forget about FTMO and their fucked up rules. Especially for those with small capital size to work with. If 1% profit of your trades taken is 100$ USD, and you have a proven track record of successful and profitable trading, then, you can risk 155$ USD on GAMBLING on FTMO ONCE IN BLUE MOON. Maybe, once or twice a year.

Dont depend on FTMO or base your psychology and risk management around FTMO rules however, because 1% profit per month is still money. And your 1% per month could b 1$ or 1000$ or even 10k. 10K is good money. You could take the subway 1000 times in New York, and I bet you cant take the subway 1000 times a month from end to end without getting sick and tired of it.

So, Dont base your rules, psychology, risk management etc on the FUCKED UP rules of FTMO, if you want to succeed as a profitable trader.

1% a month is still money.

Mai Sng Siao!

0001SGT 25102022

2302SGT 28102022

For record purposes and future reference.

USDCNH HOURLY TIME FRAME TRENDLINE 3rd TOUCH ENTRY



I was sitting at the bus stop just directly below BLK 101 Marsiling St 13 after I finished my night shift of food delivery for FoodPanda, and I thought to myself, Trend Lines does work. The problem lies with the user(me).

I have to see the market as what it is, instead of forcing it to be what I want it to be.

If price respects the 50EMA, and a breakout occurs, and price is currently trending on the 10EMA/20EMA, does it mean price has stopped respecting the 50EMA?

No.

I just means that price is currently trending. Sooner or later, price will retrace back to the 50EMA again. The Impulse Wave just temporarily happen to respect the 10EMA/20EMA. Look at the bigger picture ah. If price on the bigger picture does respect the 10EMA/20EMA, then, it respects the 10EMA/20EMA.

2311SGT

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2313SGT

Different Tools For Different Market Conditions

Be it Trend Lines, or 50EMA, 60SMA, 100MA whatever it is, it is tools you use for different situations. The difficult part is the mastery of the bigger picture for me, I feel.

Price doesn't always respect the 10EMA/20EMA on the 4 Hour Time Frame, and when it respects other moving averages or Higher High, Higher Lows(vice versa for Short), you miss out on opportunities to capitalise on the market movements.

So, I think it is better to prioritise a larger numbered moving average such as the 60SMA.

I am still in the midst of adjusting and seeking answers so, what would it be?

2318SGT

1124SGT 29102022

真真假假，假假真真。

You need a reason> I'll give you a reason.

The very reason why you are born into a poor family, with poor parents is all your fault.

Why are others born into riches while you are born into poor family?

It's because you reap what you sow.

If you didn't do the work in your previous lives, then, what good karma do you have now to reap?

A comforting fact is that you can start doing the work today and reap the benefits you want tomorrow.

As long as you are still alive, that is all that matters.

The purpose of life, is just to be alive when you are alive.

To be alive while you are alive is a skill not many practice, and one that is hard yet easy to master.

1128SGT

Do it or not, want to try, just try.

2342SGT 30102022

By right (I realised, I by right-ed literally)



By left (literally also by left)


By right, I should only consider setups that respect the 10EMA/20EMA only, because it is the rule I set. However, as I get more comfortable and skilled at understanding different types of setups and market conditions, I realised that I am missing out on potential moves that I could have taken.

In short, Different setups for different market conditions. Different trend strength for different market conditions. Find something that suit the market condition instead of the market condition suiting your needs.

The setup in question.


The price is respecting the 60SMA currently with two touches. I would enter on the third touch. But, if I only considered the 10EMA/20EMA Trend, then, this setup would have already been invalidated because it isn't respecting the 10EMA/20EMA anymore on the 4 Hour Time Frame.

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I think it is very important for newer traders to just focus on one market condition first, then add more in the future when the market condition changes and doesn't respect their original rules anymore. Like now, there's no pairs that is properly respecting the 10EMA/20EMA the way I need it to, and if I force myself to find trends that "respects" the 10EMA/20EMA, then I am IN for a huge drawdown just like my current drawdown.



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Coming back to what I learned from Rayner Teo's Forex Trading YouTube videos, he mentioned about different types of market strengths. And having a few setups to not be a One Trick Pony. Some things were not clarified, though. And I ran in circles looking for answers. I couldn't find the answer and now I make my own answers.

The question I have since a couple of years ago is, how many types of market conditions should we trade in a single account/strategy? My current answer would be, maybe two would be good.

Market conditions as in the Higher Time Frame's different trend strengths.

To juggle all of them with the different combinations and variations, for me, the only way to mastery is by rubbing it in, hard and long.

Ju-eh E(Teochew for rub it hard with intention of causing pain)

0027SGT

Today is a tiring day, been walking and cycling around Woodlands delivering food on FoodPanda platform for 4 Hours plus with no time to sit. I managed to make 32$+ SGD. My eyes are shutting.

Good Night.

0029SGT

I love how you do your detailed analysis. Keep going, it is tough until you are comfortable with the market up and down. I am impressed your account is still intact. If it was me, I already drained it to 0.

Hi PriceisKing! Thank you for your kind words

I have ran several accounts in the past into profit for a few months and then drained all my profits and went into negative until I learned that when market conditions change, I need to run. And when times are good, keep doing business, until the times are no longer good, hold on to the profits for months, try to lose as little as possible, and then go back in again when times are good again

a simple strategy and easy to follow on a trending market. Hhowever how do you filter bad set ups on a side ways market? Cheers!

Hey PatrickStar! My Favourite Spongebob Character hehe besides Mr. Krabs

I filter bad setups in ranging markets by avoiding it altogether. I'll show you an example.

Currently how the side ways market look, to me, for the HKDJPY

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Turning back time a little, to look for an example


I zoom out all the way on TradingView, and I draw the Highest and Lowest points I could see, and I call it Side Ways Market.

Price might seem to be trending heavily in the Side Ways Market, but, there's too many potholes.

I rather drive on smoother roads. The government isn't going to change, so, I move to a better place, then.

If I couldn't afford to move yet(due to all of the markets being in Side Ways, then, I have to suck it up. Hold it in, work at "Krusty Krab" until the market Breaks out of the Highest or Lowest points.


The above is for huge ranges.

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If price has already began trending but takes periodical pauses, then, I would wait for price to form a minimum of 80 candles. It varies for me, but 80 candles as a minimum is very good to avoid confusion. The waiting game is also a type of trading game. Wait and Observe. Just like driving into the main road. Stop Look Go.



2144SGT

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Shift your Highest Point every week or so when it shifts.


Only take the first setup of every Breakout Trend(for me).

2150SGT

Thank you for explaination i'm trying to understand your thought process, seems like there is a hidden nugget burried somewhere. salute

1144SGT 01112022

HK50.CASH on FTMO, second week into the free trial. This is my third trade in this account, and the free trial is going to end on this Friday, I think. Or Thursday?

Zoomed in Hourly Time Frame


Zoomed out Hourly Time Frame

Attached Image (click to enlarge)

HK33 on Oanda account on TradingView

Attached Image (click to enlarge)

I was confused why there's a HK33 and another HK50, but I think they are the same thing, just that HK33 measures the top 33 companies in HK, while HK50 measures the top 50 companies in HK.

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I was reluctant to enter on the HK Index yesterday because there's a possibility price might retrace back to the current Swing High.

Current Swing High on HK33


But, I realised that price made the same pattern as the previous Minor Range. So, I decided to enter.

(possible formation of the) Same patterns

1203SGT

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1455SGT

Too bad. Got closed out.

200SMA on Hourly Time Frame

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Something I thought of when I was preparing for losses.

I have lost so many times already, what's the big deal of another loss?

1457SGT

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1500SGT

HINDSIGHT?

Attached Image (click to enlarge)

1500SGT

1919SGT 02112022

Not feeling good today and didn't go to work. Realised that I haven't eaten anything much, that is why I am thinking too much.

Wanna drop some screenshots here for later.


1921SGT

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0001SGT 03112022

When the price begins it's Impulse

2150SGT 07112022

 

1. Decided to zoomed out 15 times instead of the maximum. Reason being, I put more weightage to the current price action rather that price action that happened long ago. Learned this from Rayner's videos on YouTube in the past and these lessons are etched in my mind.

 

1. Feels like the last quarter of the year is quiet. I think I saw Kei the Japanese Trader on YouTube mention that there is more action during the summer time than in the last quarter of the year. So, it is ok even if I do nothing. I can wait. I used to not be able to wait. But now I can. Warren Buffett says that cash is position. But he does otherwise. I read this somewhere today online. So what? To me, cash is position.

 

1. Use a counter Moving Average. Price is not static. It might not come back to the line you drawn, or the Moving Average you used. Example, 50EMA. What if price almost touched the 50EMA but didn't and moved in your intended direction, and hit your intended TP? You will be missing out. Counter that by using 20EMA with 50EMA. As long as price touches anywhere between the 20EMA and 50EMA, you enter. I learned this from Rayner Teo, too. I learned so many things from Rayner. I am so thankful. It took me years to be able to appreciate his teachings, but I am grateful.

 

1. When price stop respecting an Moving Average, it goes back to respecting the previous Higher Valued Moving Average. What it is is that Price is now retracing back to a higher numbered Moving Average. It could be on the current Time Frame, or on your Higher Time Frame, or on an even higher Time Frame that you do not use. When it happens, let go. What is yours will be yours. Don't lose your fingers.

2210SGT

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2115SGT

 

1. When you are hungry, you eat. Do not stay hungry, like what the western media teaches. If you stay hungry, you die. Even the tiger hunts because it wants to satiate its hunger. After you fill up your stomach, you can then go out and get what you want. If you keep staying hungry, you will never have enough. You will never be satisfied. And some day you will die of hunger or depression.

2218SGT

2129SGT 30112022

Hourly Time Frame

20/50EMA


4 HOUR TIME FRAME

60SMA

Trailing stop 2x of the Stop Loss, No Take Profit Level.

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Not feeling well mentally this few weeks, feels like im back to before I started medication.

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Haven't been trading for the past three weeks or so and I do not feel I need to watch the charts like I used to in the past, but, I still have the urge to check the charts whenever I have a position running. And I hope to remove this urge by using a Trailing Stop Loss and have not Take Profit Level. Doing so, I eliminates the need to keep adjusting my Manual Trailing Stop Loss.

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I seen another CAD pair but I like the CADSGD one more.

EURCAD HOURLY

Trailing Stop Loss with Take Profit Level because there's a pattern going on.

2147SGT

1929SGT 02122022

Part One

I initially planned to enter at this price.


I am able to see the pattern clearer, now.

In my previous posts, I mentioned that, if I do get stopped out, I hope that at least, price would go back in my favour, and hit my TP. This way, at least I know that I am getting the direction right.

Now, I am seeing a trend. I keep getting stopped out before price turns in my favour.

Stopped out before price goes back in my favour.

The above entry isn't my first choice. But I decided to go for the Sell Market Order because I do not have a defining rule for entry. I enter, when price touches the Moving Average. I do not specific how deep into the Moving Average before I enter, and how deep is too deep for entry. All of the entry were made by "spur of the moment". There's an element of guessing in trading. No choice.

Thinking back, I would rather, set a Limit Order if I feel that price is going to retrace back to the Moving Average.

I would probably place an Limit Order halfway into the first and second Moving Average(counter Moving Average).

Where I initially planned to enter at.

Attached Image (click to enlarge)

I feel that many of my trades were lost due to entering at a too low price(for Shorting, vice versa).

1949SGT

2118SGT 06122022

Part Two

EURCAD



For EURCAD, I decided to place the Buy Order deeper into the Moving Average.

I think it is a timing issue.

Either you place it too deep, and miss the move, or you place too shallow, and get stopped out prematurely.

2127SGT

0959SGT 08122022

AUDNZD SHORT MARKET ORDER ZOOMED OUT HOURLY


AUDNZD SHORT MARKET ORDER ZOOMED IN HOURLY


AUZND SHORT MARKET ORDER 4 HOUR TIME FRAME


No take profit level, trailing stop take profit/stop loss

1002SGT

1706SGT 14122022

I have been waiting for price to either move in my favour or hit my stop loss so I could move on. Price hit my stop loss.



In the previous entry, I noted that price has touched the Moving Average the third time, and I am going to enter on it. However, I failed to see that price is only temporarily abiding to the 20/50EMA.

Previous entry screenshot


Is Price respecting the 200/400 Moving Average?



Next question is, would price hold?


Regardless. I feel very thankful, even if I do run this account back to the initial starting capital, because this is my longest run yet, into profit, before I run it back down to the "starting capital".



Something I feel that I have made a huge mistake on this time is to pick AUDNZD, just because it has made 3 touches to the Moving Average.

Reason is because there are better options out there that I have marked out, but I picked the AUDNZD because it gave me a signal, first.

That's all for part One, because there is a limit on the amount of attachments I could insert into a post.

1747SGT

1750SGT

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1752SGT

For record purposes, 50/100EMA on the 4 Hour Time Frame