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  • #5,461
  • May 22, 2023 1:16pm May 22, 2023 1:16pm
Choppy day today in the markets
  • #5,462
  • May 22, 2023 1:32pm May 22, 2023 1:32pm
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....GRAZIE LAURA T. stasera la cena è stata molto buona...
  • #5,463
  • May 23, 2023 5:27am May 23, 2023 5:27am
EURUSD slightly late entering, i waited for a touch of the upper EMA
It ended well
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  • #5,464
  • May 23, 2023 5:36am May 23, 2023 5:36am
Quoting mckeep
EURUSD slightly late entering, i waited for a touch of the upper EMA It ended well {image}
Well done.
  • #5,465
  • May 23, 2023 10:17pm May 23, 2023 10:17pm
buongiorno a tutti allego indicatore x mt4 che segue il prezzo sul grafico indicando spread , tempo alla chiusura della candela e profit
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  • #5,466
  • May 23, 2023 10:19pm May 23, 2023 10:19pm
lo vedete sul mio post precedente
  • #5,467
  • May 24, 2023 3:09am May 24, 2023 3:09am
Two longs from the 15 minute time frame shown on the 5 minute execution chart
EDIT: Add 15 minute chart
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every Saint has a past. Every Sinner has a Future
  • #5,468
  • May 24, 2023 3:16am May 24, 2023 3:16am
Great shorts on dax after yesterdays drift.
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every Saint has a past. Every Sinner has a Future
  • #5,469
  • May 24, 2023 3:47am May 24, 2023 3:47am
USDJPY Long on this one Although 200SMA is flat, let's see how it pans out
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  • #5,470
  • May 24, 2023 4:00am May 24, 2023 4:00am
I finished my second iteration of the 15m exercise...

20 trades
-50% win rate
-Profit factor: 2.2

Better results than last time!
  • #5,471
  • May 24, 2023 4:08am May 24, 2023 4:08am
Quoting mckeep
USDJPY Long on this one Although 200SMA is flat, let's see how it pans out {image}
what do you see that compensated for the flat SMA?
  • #5,472
  • May 24, 2023 4:12am May 24, 2023 4:12am
Quoting ianhjulberg
I finished my second iteration of the 15m exercise... 20 trades -50% win rate -Profit factor: 2.2 Better results than last time!
Well done.

I now need you to spend a bit of time carefully analyzing each chart with your entry and exit marked. I don't need to see them, but I want you to evaluate each trade and note down anything that now seems sub-optimal in hindsight. Check to see if any 'mistakes' were repeated over the sample - even if not, post your thoughts on the analysis and I'll work out what's next for you.
  • #5,473
  • May 24, 2023 4:13am May 24, 2023 4:13am
Quoting mckeep
USDJPY Long on this one Although 200SMA is flat, let's see how it pans out {image}
I see far too many reasons not to take a long trade.
  • #5,474
  • May 24, 2023 4:14am May 24, 2023 4:14am
Quoting LauraT
{quote} Well done. I now need you to spend a bit of time carefully analyzing each chart with your entry and exit marked. I don't need to see them, but I want you to evaluate each trade and note down anything that now seems sub-optimal in hindsight. Check to see if any 'mistakes' were repeated over the sample - even if not, post your thoughts on the analysis and I'll work out what's next for you.
Ok
Will report back
  • #5,475
  • May 24, 2023 4:30am May 24, 2023 4:30am
Quoting LauraT
{quote} what do you see that compensated for the flat SMA?
Sorry i don't understand your question
  • #5,476
  • May 24, 2023 5:10am May 24, 2023 5:10am
I think one issue was that I would take trades where even though a bar would close on the "right" side of the 15m channel, the 15m channel was on the opposite/wrong side of the 200sma in relation to the direction I was trading, and price would often bounce off the sma.
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Another issue was trading when volatility was low. This would cause situations where one bar would close outside of the channel and then one bar would close back inside the channel, and so on. This exercise seems to work better during high volatility.

Another observation was that this exercise worked better for me during US Session. That may be due to higher volatility during US Session?

And, of course, overtrading is an issue that I am working on.

Those are a few initial thoughts.
  • #5,477
  • May 24, 2023 5:33am May 24, 2023 5:33am
Quoting ianhjulberg
I think one issue was that I would take trades where even though a bar would close on the "right" side of the 15m channel, the 15m channel was on the opposite/wrong side of the 200sma in relation to the direction I was trading, and price would often bounce off the sma. {image} {image} Another issue was trading when volatility was low. This would cause situations where one bar would close outside of the channel and then one bar would close back inside the channel, and so on. This exercise seems to work better during high volatility. Another observation...
Well done for your persistence and willingness to learn and grow. Its inspiring

Keep up the good work
  • #5,478
  • May 24, 2023 5:39am May 24, 2023 5:39am
Quoting ianhjulberg
I think one issue was that I would take trades where even though a bar would close on the "right" side of the 15m channel, the 15m channel was on the opposite/wrong side of the 200sma in relation to the direction I was trading, and price would often bounce off the sma. {image} {image} Another issue was trading when volatility was low. This would cause situations where one bar would close outside of the channel and then one bar would close back inside the channel, and so on. This exercise seems to work better during high volatility. Another observation...
Hey man
You chose a very difficult instrument to trade.
trade safe
  • #5,479
  • May 24, 2023 5:47am May 24, 2023 5:47am
Quoting mckeep
{quote} Sorry i don't understand your question
When SMA is flat, it should heighten the requirement for other elements to be perfectly set up. I'm curious what those were for you.
  • #5,480
  • May 24, 2023 5:52am May 24, 2023 5:52am
Quoting ianhjulberg
I think one issue was that I would take trades where even though a bar would close on the "right" side of the 15m channel, the 15m channel was on the opposite/wrong side of the 200sma in relation to the direction I was trading, and price would often bounce off the sma. {image} {image} Another issue was trading when volatility was low. This would cause situations where one bar would close outside of the channel and then one bar would close back inside the channel, and so on. This exercise seems to work better during high volatility. Another observation...
Thanks for doing the analysis. Fortunately these issues are easily solved!

If you're willing, I'd like you to repeat the exercise but, before doing so, please create a checklist for yourself. Include those elements you have identified and force yourself to do a quick run-through of the checklist before entry. You really aren't far away from where you need to be with these exercises now.

The FOMO and over-trading can be tackled with what I previously mentioned - either 5 trades per day or, if that proves too comfortable for you, 3.
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