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MTF Engulf / Engulf fail

  • #1,921
  • Feb 5, 2024 10:41am Feb 5, 2024 10:41am
Quoting Inthebox
{quote} {image}
that trader who lost 3% during london session got back 4.5% with 45 pips.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,922
  • Feb 5, 2024 4:41pm Feb 5, 2024 4:41pm
Quoting Inthebox
{quote} that trader who lost 3% during london session got back 4.5% with 45 pips. {image}
isn't the trader taking too much risk of 3%? and he keeps fighting with market to gain back what lost.

This trader needs to work on following

1% risk of capital per day
stop trading when target hit or miss to avoid overtrading or revenge trading
trade in one session (optional)

P.s. learnings from shifu ITB
If you believe in yourself anything is possible !!
  • #1,923
  • Feb 5, 2024 6:06pm Feb 5, 2024 6:06pm
Quoting imifx
{quote} isn't the trader taking too much risk of 3%? and he keeps fighting with market to gain back what lost. This trader needs to work on following 1% risk of capital per day stop trading when target hit or miss to avoid overtrading or revenge trading trade in one session (optional) P.s. learnings from shifu ITB
Maybe, a 3% risk for this particular account is actually, less than 1% of his entire portfolio. Or maybe, this trader is trading a prop account.
Success = Practice + Patience + Persistence
  • #1,924
  • Feb 5, 2024 7:24pm Feb 5, 2024 7:24pm
AU: We have the AUD rate decision in the calendar.

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Success = Practice + Patience + Persistence
  • #1,925
  • Feb 5, 2024 8:16pm Feb 5, 2024 8:16pm
Quoting fxpider
{quote} Maybe, a 3% risk for this particular account is actually, less than 1% of his entire portfolio. Or maybe, this trader is trading a prop account.
smart of you. he has 3 accounts.
one for intraday trading. one using h4 for swing. another using d1 for medium term.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,926
  • Feb 5, 2024 8:44pm Feb 5, 2024 8:44pm
Quoting imifx
{quote} isn't the trader taking too much risk of 3%? and he keeps fighting with market to gain back what lost. This trader needs to work on following 1% risk of capital per day stop trading when target hit or miss to avoid overtrading or revenge trading trade in one session (optional) P.s. learnings from shifu ITB
this is from each individual trader's point of view. usually relative to himself.
statistically his win rate is 80%, which means that every 5 trade he loses 1.
every week he loses 1 day and gains 4 days.

with his win rate, is 3% risk "too much"?
he trades 2 sessions every day.
if he reaches his target in one session, he calls it a day.

there are also many other ways that other traders use SL.
most never experience it. most never use it, so they do not know, or never come to know.

for example,
one trader with 80% win rate splits his accounts into 3 accounts.
say he has $12k so each account is $4k.
he takes high risks each time risking 10% (is it too much?)
he withdraws his profit fortnightly, leaving the original $4k behind and start all over again.

yet there is another trader with the same win rate, splits his accounts into 10 accounts.
he does not use SL. the margin call in each account is the SL.
think about that.

in the end, every thing is relative to our own experiences.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,927
  • Feb 5, 2024 9:10pm Feb 5, 2024 9:10pm
UJ & Gold: Which one is going to make a move first? One thing is for sure, they will be moving opposite to each other.


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Success = Practice + Patience + Persistence
  • #1,928
  • Feb 5, 2024 9:27pm Feb 5, 2024 9:27pm
just before news, uj in no man's land
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,929
  • Feb 5, 2024 9:59pm Feb 5, 2024 9:59pm
asia session best move after news
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,930
  • Feb 5, 2024 10:25pm Feb 5, 2024 10:25pm
Quoting Inthebox
asia session best move after news {image}
the scalper has left for the day after reaching his target.
less than 1 hour job.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,931
  • Feb 6, 2024 12:03am Feb 6, 2024 12:03am
Quoting Inthebox
{quote} the scalper has left for the day after reaching his target. less than 1 hour job. {image}
Nice work ITB.
Your trade order needs to be in the right place at the right time.
  • #1,932
  • Feb 6, 2024 12:12am Feb 6, 2024 12:12am
to me buylevels
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trading is like dancing, don't think and just listen to the music!
  • #1,933
  • Feb 6, 2024 12:38am Feb 6, 2024 12:38am
accumulation to drop?
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,934
  • Feb 6, 2024 2:09am Feb 6, 2024 2:09am
Quoting birdland
to me buylevels {image}
Quoting Inthebox
accumulation to drop? {image}
same instrument, an almost similar approach yet two different biases @cmp. That's how the price is always on the move. I love the market.

Time for a cuppa, while A$ getting dumped.

Success = Practice + Patience + Persistence
  • #1,935
  • Feb 6, 2024 2:20am Feb 6, 2024 2:20am
Quoting fxpider
{quote} {quote} same instrument, an almost similar approach yet two different biases @cmp. That's how the price is always on the move. I love the market. Time for a cuppa, while A$ getting dumped.
yes, and the best is we both can win with our positions. when i hedge often i make with both sides a profit.
trading is like dancing, don't think and just listen to the music!
  • #1,936
  • Feb 6, 2024 3:00am Feb 6, 2024 3:00am
GA: supported by HTF (H1) eg and weaker A$.

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Success = Practice + Patience + Persistence
  • #1,937
  • Feb 6, 2024 3:09am Feb 6, 2024 3:09am
UJ is the sleeping dragon today, WAKEY WAKEY !!!
Success = Practice + Patience + Persistence
  • #1,938
  • Feb 6, 2024 3:34am Feb 6, 2024 3:34am
Quoting fxpider
{quote} Maybe, a 3% risk for this particular account is actually, less than 1% of his entire portfolio. Or maybe, this trader is trading a prop account.
thnx @Fxpider
If you believe in yourself anything is possible !!
  • #1,939
  • Feb 6, 2024 3:35am Feb 6, 2024 3:35am
Quoting Inthebox
{quote} this is from each individual trader's point of view. usually relative to himself. statistically his win rate is 80%, which means that every 5 trade he loses 1. every week he loses 1 day and gains 4 days. with his win rate, is 3% risk "too much"? he trades 2 sessions every day. if he reaches his target in one session, he calls it a day. there are also many other ways that other traders use SL. most never experience it. most never use it, so they do not know, or never come to know. for example, one trader with 80% win rate splits his accounts...
Now, enough meat on the bone
If you believe in yourself anything is possible !!
  • #1,940
  • Feb 6, 2024 3:56am Feb 6, 2024 3:56am
GOLD: 80% of the time, the Mon and Tue form the high or low of the week. On Monday, the previous week's low was triggered with a notable volume and the following PA is well supported by an EF. Additionally, UJ is reluctant to move up. So, do we already have the weekly low for the GOLD? Well, it's just a thesis, let's see .....

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Success = Practice + Patience + Persistence
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