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Level in Level out

  • #221
  • May 8, 2023 2:52pm May 8, 2023 2:52pm
Quoting Jewel1996
{quote} I guess it is at breakeven now? Mine is
Yes.. riding free
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  • #222
  • May 8, 2023 2:54pm May 8, 2023 2:54pm
Quoting lorecavoli
Also buy limit activated. {image}
There is no level there brother... at least to what we do here.
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  • #223
  • May 8, 2023 3:01pm May 8, 2023 3:01pm
Quoting nadi-fx
{quote} There is no level there brother... at least to what we do here.
The next buy limit is about 0972 and then 09433
  • #224
  • May 8, 2023 3:11pm May 8, 2023 3:11pm
Quoting nadi-fx
{quote} There is no level there brother... at least to what we do here.
Thx, I just closed the trade, I dunno why I had a level there!
  • #225
  • May 8, 2023 3:37pm May 8, 2023 3:37pm
Quoting lorecavoli
{quote} Thx, I just closed the trade, I dunno why I had a level there!
It's all good buddy... we did have a level there but then it got broken... I myself still have open buy position off that level but after trigger on Friday it completely broke that level down and now sitting at a lower level at 9695.

GL
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  • #226
  • May 8, 2023 3:39pm May 8, 2023 3:39pm
Quoting Jewel1996
{quote} The next buy limit is about 0972 and then 09433
Correct.
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  • #227
  • May 9, 2023 6:34am May 9, 2023 6:34am
Dear Nadi!

Thank you for your detailed pics with new levels - I've found they are similar to my seeing of your strategy, so I confirmed for myself that I understand your ideas right.

I've visually backtested your strategy for several years + for 2009-2010 years also. I see absolutely more SLs then TPs, even not 3:1. But you said it was profitable for you for many years. Can I please ask you to describe your experience with this method more detailed? How deep were your drawdowns, how profitable in the long run etc.

Thank you anyway for your work and sharing!
Just an opinion. Based on research
  • #228
  • May 9, 2023 10:28am May 9, 2023 10:28am
Quoting since80808
Dear Nadi! Thank you for your detailed pics with new levels - I've found they are similar to my seeing of your strategy, so I confirmed for myself that I understand your ideas right. I've visually backtested your strategy for several years + for 2009-2010 years also. I see absolutely more SLs then TPs, even not 3:1. But you said it was profitable for you for many years. Can I please ask you to describe your experience with this method more detailed? How deep were your drawdowns, how profitable in the long run etc. Thank you anyway for your work...
Your back test has flaws most likely. Validating some levels that are not, not extending your profit when it can etc.
But I don't want to start argument about it here. That is why this is thread and forward trading will tell all. There are perhaps a lot of money/risk management skills that you have not input as well that will get you ahead, not to say technically is not sound.
I recommend to not follow or trade big load if you have doubts.
Not to mention for young life of this thread it has been profitable... sure its been a Sidway action, but once it gets in trending market it will also be profitable... but market 60-70% of times ranges, so statistically its sound and philosophically.


GL.
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  • #229
  • May 9, 2023 10:36am May 9, 2023 10:36am
GM to all... woke up to a +103 bank and -30 stop and an new buy position triggered with a nice bounce. Sitting at +73 so far and its only Tuesday. This is a good start to a week, now can be more aggressive and room for risk to excel for larger profitability.

GL
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  • #230
  • May 9, 2023 10:46am May 9, 2023 10:46am
Got a first winning sell trade from 1.10883 level. I'm in the buy trade too. So glad I'm applying the same logic as you.

Greetings
He bought? Dump it!
  • #231
  • May 9, 2023 12:13pm May 9, 2023 12:13pm
Similar to you, a short +99 and two long positions, one of them not closed in Sl by half a pip.
What the market takes away from you sometimes, other times it gives you.

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  • #232
  • Edited 1:18pm May 9, 2023 12:35pm | Edited 1:18pm
Quoting gerval
Similar to you, a short +99 and two long positions, one of them not closed in Sl by half a pip. What the market takes away from you sometimes, other times it gives you. {image}
wow luck you not getting sting with the stop hit.
The way I deal with this situation is to exit at BE when (1st buy trade 9705 LV) reaches back to the level unless it blows right by it, any hesitation I will exit it and drop the risk.

GL
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  • #233
  • May 9, 2023 12:39pm May 9, 2023 12:39pm
I understand that you place the lowest position in BE so as not to increase the risk with both?
or look for the BE with both positions when it goes a little in favor?
  • #234
  • May 9, 2023 1:39pm May 9, 2023 1:39pm
Quoting nadi-fx
{quote} wow luck you not getting sting with the stop hit. The way I deal with this situation is to exit at BE when (1st buy trade 9705 LV) reaches back to the level unless it blows right by it, any hesitation I will exit it and drop the risk. GL
I understand and done just in time.
The first closed in BE and the second in BE as it is reaching 30 pips. Thank you for teaching me your risk management in your system.

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  • #235
  • May 9, 2023 2:11pm May 9, 2023 2:11pm
Quoting gerval
{quote} I understand and done just in time. The first closed in BE and the second in BE as it is reaching 30 pips. Thank you for teaching me your risk management in your system. {image}
Exactly the same thing here. Thank you Nadi for the clarification
  • #236
  • May 9, 2023 2:25pm May 9, 2023 2:25pm
A buy limit can become a sell limit if price goes through it and then goes back to that level?
  • #237
  • Edited 4:36pm May 9, 2023 3:23pm | Edited 4:36pm
Quoting lorecavoli
A buy limit can become a sell limit if price goes through it and then goes back to that level?
If I understand you correctly... the answers is NO.
Have you fully read the threads important posts?
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  • #238
  • May 10, 2023 2:21am May 10, 2023 2:21am
The long trade still is intact at +30 profit. Stops should be at BE now... looks to be its in a halt for now will see if it breaks out of it and shoot to the moon lol.

GL
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  • #239
  • May 10, 2023 4:24am May 10, 2023 4:24am
Quoting nadi-fx
{quote} wow luck you not getting sting with the stop hit. The way I deal with this situation is to exit at BE when (1st buy trade 9705 LV) reaches back to the level unless it blows right by it, any hesitation I will exit it and drop the risk. GL
If this current trade get to BE and drops, what is the next line of action: should there now be a sell limit at 0977ish or we wait for a swing low to be formed and then put a buy limit for when it returns. In the meantime we still keep the sell limits at 10486 and 10865.

Have you ever had a loosing month with this strategy. I understand that it is inevitable that we have a loosing day/week

I suggest that post 232 be added to the essential read.

Thank you for your time
  • #240
  • May 10, 2023 4:57am May 10, 2023 4:57am
I closed early, when it looked to me we were heading back to test resistance. I managed a bit better than BE. It may well head back up with CPI news in the next couple of hours , but for me now its sit on my hands time with EURUSD
Its all just one persons opinion
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