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1H Swing Trading on EURUSD

  • #1,041
  • Sep 6, 2022 9:44pm Sep 6, 2022 9:44pm
Welcome Back BT...
You learn something everyday if you pay attention.
  • #1,042
  • Edited 2:10am Sep 21, 2022 1:22am | Edited 2:10am
Quoting visionxp
Welcome Back BT...
Thanks, did never left, was just waiting for the next trade signal that came few hours ago.
This, and future ones, will fully follow the (updated) system, let's see how it evolves...

Good luck with your trading as well!
BT
Simplicity is the Ultimate Sophistication.
  • #1,043
  • Sep 28, 2022 11:49am Sep 28, 2022 11:49am
Second in a row with a nice profit, +258 pips / +54.7%
The trend was broken well before the exit but I wanted to fully execute the trade according to the new rules.

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Simplicity is the Ultimate Sophistication.
  • #1,044
  • Sep 29, 2022 2:34pm Sep 29, 2022 2:34pm
After 2 successful trend trades this was a only a quick retracement trade with a fixed target of 80 pips.

Currently waiting for the next move to confirm...

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Simplicity is the Ultimate Sophistication.
  • #1,045
  • Nov 16, 2022 10:41am Nov 16, 2022 10:41am
Nice Job on your recent trades BT... Woot!
You learn something everyday if you pay attention.
  • #1,046
  • Nov 16, 2022 11:18pm Nov 16, 2022 11:18pm
Quoting visionxp
Nice Job on your recent trades BT... Woot!
Hi Vision,

Yes I'm particularly proud of the following one:

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With 500+ pips, it was almost perfect.

I see now that the euro is consolidating and that it could go even higher as the main up trend is not broken but I needed to materialize those gains as last trade did exactly the same and then reversed and finally got a win transformed into a loss so I just didn't want to repeat it.

My goal was to reach 1k to start 2023, now it's done with the double of it so I'm happy, there is still one and a half month to go but I think I should do it ...

Next year goal is to have methodology, patience and profits ;-)

Hope your trading is going well too...
Simplicity is the Ultimate Sophistication.
  • #1,047
  • Nov 17, 2022 12:55am Nov 17, 2022 12:55am
Quoting broketrader
{quote} Hi Vision, Yes I'm particularly proud of the following one: {image} With 500+ pips, it was almost perfect. I see now that the euro is consolidating and that it could go even higher as the main up trend is not broken but I needed to materialize those gains as last trade did exactly the same and then reversed and finally got a win transformed into a loss so I just didn't want to repeat it. My goal was to reach 1k to start 2023, now it's done with the double of it so I'm happy, there is still one and a half month to go but I think I should...
i saw your last trade that was perfect. with 500 pips. now whats your plan??
  • #1,048
  • Nov 17, 2022 1:31am Nov 17, 2022 1:31am
Quoting Mozahid
{quote} i saw your last trade that was perfect. with 500 pips. now whats your plan??
If it breaks the consolidation to the up side, I could enter with a lower lot size and continue with the trend.
Otherwise I will wait a signal to the downside and trade it normally.
Simplicity is the Ultimate Sophistication.
  • #1,049
  • Nov 25, 2022 3:48am Nov 25, 2022 3:48am
Three good trades and consolidating.

Last three trades were profitable and above all executed properly according to my rules.

There were smaller ones with few pips that were taken in anticipation of signals but those signals didn't came so I closed them as soon as I saw it.
Lesson learned as the last move up above SMA was almost giving a signal near the SMA and I could even be in a profitable long trade right now but I finally didn't take it and didn't anticipate anything, and even if the area is now filled in green the move was not strong enough for me to enter.


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Simplicity is the Ultimate Sophistication.
  • #1,050
  • Nov 25, 2022 3:53am Nov 25, 2022 3:53am
I'm trying to be ready to start off 2023 on the right foot.

I must make 2023, the year in which I became methodical, patient, professional and consistent with my trading and not treating it like a game where I just put money through the window.

Methodical in executing my system signals to the letter, without questioning them or trying to anticipate them.

Patient by applying the method and accepting periods of no trading. There will always be another opportunity another day.

Professional by accepting that no system is perfect and that losses are part of the game. Learn to take the losses when needed, accept it and move on to the next trade but learn also when to take profits.

Consistent by just keeping in mind and applying these previous three points continuously without deviating from them.


Just be focused and make things happen.
Simplicity is the Ultimate Sophistication.
  • #1,051
  • Dec 1, 2022 12:00am Dec 1, 2022 12:00am
Quoting broketrader
I'm trying to be ready to start off 2023 on the right foot. I must make 2023, the year in which I became methodical, patient, professional and consistent with my trading and not treating it like a game where I just put money through the window. Methodical in executing my system signals to the letter, without questioning them or trying to anticipate them. Patient by applying the method and accepting periods of no trading. There will always be another opportunity another day. Professional by accepting that no system is perfect and that losses are...
Hello, long time you are out of trade.
  • #1,052
  • Dec 1, 2022 5:48am Dec 1, 2022 5:48am
Quoting Mozahid
{quote} Hello, long time you are out of trade.
I have been trading "other" weaker signals without success so I think I will just forget those.
Now I'm waiting a "true" signal and I don't care whether it will take 3 days or 1 month to come.
Simplicity is the Ultimate Sophistication.
  • #1,053
  • Edited 8:21am Dec 3, 2022 3:38am | Edited 8:21am
Going with Momentum.

Finally I wasn't out of trade for long, only 4 days.
In my back testing I see periods of no trading up to one month but it seems that we are getting some direction these days.

Don't be confused by me getting a position after that big NFP candle which by the way, put in context, is not that big but still around 100 pips.

So why entering at top right before the NFP news and then entering again at NFP low when being in a loss with the first trade and even entering a bigger trade ?
Looks like cost averaging trades in the hope of having the price soon back where it was before the news like it finally did...

If it was that I would have closed my first trade right now with a small profit and set a stop loss at break even for the bigger trade that is 77 pips in profit now.
That would put me in a very comfortable protected position like a majority of traders would do but that's not what I trade.

The NFP was only an opportunity for me of having a second trade with a better price in the direction of the momentum shown by the first trade because that is where the momentum is right now, not elsewhere, price well above SMA96 and near the top.

Does it means that the trade will finish successfully with a good profit ? No because momentum changes constantly so there is no way to predict anything, the only thing I can do is trying to guess in which direction it's heading and go with it.

A chart says it all...

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Simplicity is the Ultimate Sophistication.
  • #1,054
  • Dec 4, 2022 7:53am Dec 4, 2022 7:53am
Good stuff BT... Learning a lot from your post on your process for developing your system - thank you.
Great double down move... Woot!
You learn something everyday if you pay attention.
  • #1,055
  • Dec 5, 2022 1:15am Dec 5, 2022 1:15am
Quoting visionxp
Good stuff BT... Learning a lot from your post on your process for developing your system - thank you. Great double down move... Woot!
All good if you can extract some juice from what I write here
Direction and Momentum are key words.
Simplicity is the Ultimate Sophistication.
  • #1,056
  • Dec 10, 2022 2:15am Dec 10, 2022 2:15am
Positioning for the next up move ?

Very good data from US was still not enough to break the main trend. This could mean consolidation.
Large institutions eating all the sell orders they can and positioning before next week where Inflation data and FED rates decision could be the catalyst for a good move to the North or to the South!

Current momentum and direction are still to the upside but the momentum has been well degraded during that Friday move in the direction of the trend line.
I need some movement to the upside in the next hours to stay with my longs. On the contrary I will have to close them and go short.

I will know what to do by Monday morning after the Asian session.

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Simplicity is the Ultimate Sophistication.
  • #1,057
  • Dec 12, 2022 11:08pm Dec 12, 2022 11:08pm
Monday came and I got what I needed to keep my current trades.

I'm still with the trend and some momentum is still there, let's see what the inflation numbers have to say today..

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Simplicity is the Ultimate Sophistication.
  • #1,058
  • Dec 13, 2022 6:09am Dec 13, 2022 6:09am
This is the part I need more patience in... You are over 100% and still holding... My impulse is to always pull a heavy profit. Kudos on your trade BT!!!
You learn something everyday if you pay attention.
  • #1,059
  • Edited 11:14pm Dec 13, 2022 6:34am | Edited 11:14pm
Quoting visionxp
This is the part I need more patience in... You are over 100% and still holding... My impulse is to always pull a heavy profit. Kudos on your trade BT!!!
Yes, I'm gently learning to be patient...

I don't look anymore at the percent I make on a single trade, I'm just holding because I have no exit signal telling me to exit, and who knows, maybe tomorrow all my profits will evaporate because of the FOMC but I trade a system, not the news, otherwise I would have been out today as a precaution before the inflation numbers.

On the other side, I know that at some point I also need to take profits so I have a target at 1.0870 1.0800 and till there, two things can happen, 1 we reach it and I take some profits or 2, I get an exit signal before if the FOMC puts everything upside down.

That's all for now ;-)

Edit: Target 1.0800, not 1.0870
Simplicity is the Ultimate Sophistication.
  • #1,060
  • Dec 13, 2022 2:29pm Dec 13, 2022 2:29pm
Today I have been given some edumaction...
You learn something everyday if you pay attention.
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