XAUUSD M1
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- #763
- May 4, 2023 3:21pm May 4, 2023 3:21pm
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #764
- May 4, 2023 6:06pm May 4, 2023 6:06pm
- Joined Jun 2012 | Status: Trader , Analyst and Mentor | 5,884 Posts
Say something meaningful or Silence!!
- #765
- May 4, 2023 6:12pm May 4, 2023 6:12pm
- Joined Jun 2012 | Status: Trader , Analyst and Mentor | 5,884 Posts
Say something meaningful or Silence!!
- #773
- May 5, 2023 7:48am May 5, 2023 7:48am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #776
- Edited 3:33pm May 5, 2023 1:48pm | Edited 3:33pm
Hey everyone,
I hope you had a great week.
I would like to share the result of trading live the DTS strategy. Last week (Mon 24th -> Fri 28th of April 2023) I was happy to share nice gains: it was my first week trading live the DTS strategy and I enjoyed a great net profit. Be sure to check my previous post if you haven't.
I can't be as happy this week (Mon 1st -> Fri 5th of May 2023): the net profit of the week is -75.42$ (approx. -0.75% of the balance). Theoretically I had to break-even, but considering commissions and slippage I had a small loss. Max balance drawdown reached approx. 4% and max equity drawdown hit 4.5%. I always risked 100$ (approx. 1%) with a RR ratio of 1:2 and traded only the 15 minute time frame. Feel free to check the trades:
So, what happened here? Quite a lot, even if the net profit is close to zero (in % of balance).
I made 2 big mistakes this week:
I hope you had a great week.
I would like to share the result of trading live the DTS strategy. Last week (Mon 24th -> Fri 28th of April 2023) I was happy to share nice gains: it was my first week trading live the DTS strategy and I enjoyed a great net profit. Be sure to check my previous post if you haven't.
I can't be as happy this week (Mon 1st -> Fri 5th of May 2023): the net profit of the week is -75.42$ (approx. -0.75% of the balance). Theoretically I had to break-even, but considering commissions and slippage I had a small loss. Max balance drawdown reached approx. 4% and max equity drawdown hit 4.5%. I always risked 100$ (approx. 1%) with a RR ratio of 1:2 and traded only the 15 minute time frame. Feel free to check the trades:
So, what happened here? Quite a lot, even if the net profit is close to zero (in % of balance).
I made 2 big mistakes this week:
- I opened 3 trades in low liquidity periods. As you can see from the screenshot, there are 3 trades that have a volume close to 3 lots: as I said, I always risk 1% per position, so that means either the stop-loss was really tight OR the liquidity was really low. I always use the same rule to place the stop-loss, so it surely is the second guess. During the week big news came out and liquidity wasn't always there. I made the mistake of not caring and it backfired: huge commissions and lost trades. Why's that? If there is low liquidity, the market won't move as usual: you completely lose your probabilistic advantage.
- I opened 1 trade late. Trying to catch up, I opened the AUDNZD trade 1 candle late: the price was still around the theoretical opening price, but the fact that the price was still there suggested a weak trend.
These mistakes account for a net loss of 348.97$. If it wasn't for the human errors, I would be enjoying some nice profits (close to 300$, approx. 3% of the balance) even this week. While it isn't practical to think of ifs and buts, it surely helps to look backwards and check what mistakes were made along the way: I strongly suggest everyone to do so.
As usual, feel free to ask questions, give feedback and provide useful tips.
To the next week!
silicone
You have no option but to perfom at the highest levels.
- #777
- May 5, 2023 10:34pm May 5, 2023 10:34pm
- Joined Jan 2013 | Status: Trader | 4,386 Posts
CADJPY buy trade {image}
Strategy Conceptual framework
You don't have to trade every day look for better setups and execute trade.
The Strategy is simple.
- Trade with the Directions of the 21 EMA and 6 EMA. ( you can use 21 EMA as your Baseline too)
- Triple Super trend indicator 10:2, 20:2, 30:2 settings, You can use histo version or the CAndle version. ( Triple super trend indicator is primary confirmation)
- For the stop loss can use Super Trend 10:4 or Swing Low.
- I recommend using a little large stop lose instead of placing a stop below the entry candle.
- For High Low Break understanding or Range Break out you can use 20 Donchian Channel without the middle line. ( You can say it is your Volatility indicator)
GJ,CJ, in those pair breakout entry work, so you can trade 20DC Breakout too.
Trade Trending pair- Gbpjpy, CADJPY, EurJpy, CHFJPY, ( GA, EA, GC,EC, When they are trending apply this strategy)
Another point, Pick a TF for the pair you trading and execute trade only that TF, You can analyze other tf but Execute trade one TF. It will help you gain confidence.
Best of Luck 
MA provides the market's current direction and strength.
{quote} Triple Super trend indicator 10:2, 20:2, 30:2 settings, You can use histo version or the CAndle version. *
Question: the settings for the histo indi should be the same (i.e. 10:2, 20:2, 30:2)?
Thanks.
