+1R
Nice trend line breakout and retest with great volume confirmation
Nice trend line breakout and retest with great volume confirmation
Attached Image (click to enlarge)
{quote} Love the trade breakdown and analysis. Keep em coming, you're doing great!
Maybe it's a bit early and I'm being a bit to straight forward with this system and not having enough history, but maybe I should get a prop firm challenge this weekend and start it on monday and see if it's possible to do a prop firm challenge with this system. The cons with that is probably much worse trading conditions than I have now on my live account. Guess the spreads will be way bigger and I might have to adapt the strategy a bit to get around that. Another con might be my own psychology when there is a lot more money on the line than it is trading my own small account but I feel it would be very interesting to try it!
- #204
- Edited 9:28am Jul 6, 2024 9:01am | Edited 9:28am
- Joined Nov 2023 | Status: Trader | 1,398 Posts
{quote} Thanks for the motivation and I have you to thank for this amazing trading week for coming up with this robust system! all I did was to tweak it a little to make it fit my own personality a bit better
- #205
- Edited 10:13am Jul 6, 2024 9:38am | Edited 10:13am
- Joined Jul 2012 | Status: Trader | 1,880 Posts
{quote} Thanks for the motivation and I have you to thank for this amazing trading week for coming up with this robust system! all I did was to tweak it a little to make it fit my own personality a bit better
I trade large accounts now, but I did start with $500 about 5 years ago and build my personal accounts one trade at a time, increasing deposits and position size, every time a trading week was a success.
As I posted in the middle of the week, I will post this week results. I will not post results again. Every trade must be taken, as one never knows when your edge will kick in.
Here is how this week looked, 18 trades, Highest Profit was + 12%. I also had a DD of - 6%. Ended up this week with happy +7%. That is real live trading.
{quote} Thanks for the motivation and I have you to thank for this amazing trading week for coming up with this robust system! all I did was to tweak it a little to make it fit my own personality a bit better
If you're in the US, check out Alpha Capital, they are accepting US customers, and their spreads are decent -- 0.4 pips for EU.
{quote} I agree, it is a good step forward, if you are ready. The one move up I would recommend is opening your own account with minimal funds of $500. There is nothing like a MindFuck when trading your own money. It took me 3 years to overcome Greed, Fear, FOMO and adhere to every rule I have. When you have multiple losing trades and you are down 3-5% on your account and money is real, will you continue with the same rules that statistically worked for you or will you start again a never ending loop of fidgeting with your rules. Only you can answer...
People should Really talk more about these mentally hurdles in trading. I already feel a bit lighter just writing this post about it so great chat!
P.S Awesome Trading you got there ending the week 7% in the green!
Afternoon traders!
Took a beat today on Eurusd and of course it was the first trade I took since I turned up my lot size. Also it was a trade that should've been avoided if I had paid a bit more attention. I have skipped other trades like this before so guess I just made a mistake here. Price was in an uptrend and had a lot of confluences the problem was I entered the trade straight into a 1 hour resistance level and price respected that level and price went straight to stoploss. Guess I have to pay a bit more attention to larger TFs support and resistance levels and make sure I don't enter a trade straight into them and maybe cut down the pairs I trade so I have more time to analyse the pairs cause now I feel a bit stressed trying to analyse all the pairs I'm trading and that does'nt just lead to bad trades it makes me miss good trades also. So will cut it down from 10-8 pairs to around 6 pairs to have more time for each pair.
Happy trading!
Took a beat today on Eurusd and of course it was the first trade I took since I turned up my lot size. Also it was a trade that should've been avoided if I had paid a bit more attention. I have skipped other trades like this before so guess I just made a mistake here. Price was in an uptrend and had a lot of confluences the problem was I entered the trade straight into a 1 hour resistance level and price respected that level and price went straight to stoploss. Guess I have to pay a bit more attention to larger TFs support and resistance levels and make sure I don't enter a trade straight into them and maybe cut down the pairs I trade so I have more time to analyse the pairs cause now I feel a bit stressed trying to analyse all the pairs I'm trading and that does'nt just lead to bad trades it makes me miss good trades also. So will cut it down from 10-8 pairs to around 6 pairs to have more time for each pair.
Happy trading!
- #212
- Edited 9:46am Jul 8, 2024 9:35am | Edited 9:46am
- Joined Jul 2012 | Status: Trader | 1,880 Posts
Afternoon traders! Took a beat today on Eurusd and of course it was the first trade I took since I turned up my lot size. Also it was a trade that should've been avoided if I had paid a bit more attention. I have skipped other trades like this before so guess I just made a mistake here. Price was in an uptrend and had a lot of confluences the problem was I entered the trade straight into a 1 hour resistance level and price respected that level and price went straight to stoploss. Guess I have to pay a bit more attention to larger TFs support and...
Mr. Market is the only Authority that I respect. Why? Because market will do whatever market will do, whenever market will do it, with or without me. I need an "edge" to beat the Market.
My path to success started with this baby step that took over 1 year to complete. Find an edge in 50 consecutive trades forward testing/trading.
I had to take every trade out of 50 trades in my allocated session time, adhering to the strict rules that statistically gave me an "edge".
IMPORTANT - If I changed even 1 rule, I had to go back and start 50 trades again. All manual forward testing/trading, no ea to optimize and fit into "feel good" story.
I do trade with ea now based on my edge, but that manual forward testing did wonders to take the next baby step - allowed me to enjoy profits.
Good morning traders!
Better trading for me today than yesterday and felt more in the zone. Got 2 trades and 2 winners and will share them both. Will also show a setup I was about to take but decided not to on audusd. I had 2 trades setting up about the same time on audusd and audcad but I choose the setup audcad provied due to the poorer price action on audusd. So paying attention to the 'bigger' picture definitely helps keeping me out of bad trades. Below are the 2 trades I took and the 1 I skipped. With explanations.
Happy trading!
Better trading for me today than yesterday and felt more in the zone. Got 2 trades and 2 winners and will share them both. Will also show a setup I was about to take but decided not to on audusd. I had 2 trades setting up about the same time on audusd and audcad but I choose the setup audcad provied due to the poorer price action on audusd. So paying attention to the 'bigger' picture definitely helps keeping me out of bad trades. Below are the 2 trades I took and the 1 I skipped. With explanations.
Happy trading!
Afternoon traders!
Only caught 1 trade today, was plenty of more opportunities but I focused on the wrong setups that did'nt play out and therefore missed the ones that did. Guess this was that kind of day when I could'nt catch them all. Also the one trade I caught I exited early before take profit and that buggers me out a bit since it hit the initally TP after a while. Guess that's something I have to work on and strengthen my psychology to have the guts to hold the trades until they hit full TP and not close them off early. Below is the trade I took. At my ctrader screenhot just ignore the audusd trade, it was a trade I accidentally took and it should'nt been taken at all and I closed it directly at breakeven.
Hope you guys get some idea on how I have adapted and use Machinelearns robust system. This might be the last post for a week or two cause I'm going on a vacation in a few days and will prepare for that. Might trade tomorrow and friday if I have the time but next week will all be laying at the pool zipping on beers Also when I get back from my vacation I'll probably get that prop firm challenge and see if i can find som success with it.
Have a great summer all and happy trading!
Only caught 1 trade today, was plenty of more opportunities but I focused on the wrong setups that did'nt play out and therefore missed the ones that did. Guess this was that kind of day when I could'nt catch them all. Also the one trade I caught I exited early before take profit and that buggers me out a bit since it hit the initally TP after a while. Guess that's something I have to work on and strengthen my psychology to have the guts to hold the trades until they hit full TP and not close them off early. Below is the trade I took. At my ctrader screenhot just ignore the audusd trade, it was a trade I accidentally took and it should'nt been taken at all and I closed it directly at breakeven.
Hope you guys get some idea on how I have adapted and use Machinelearns robust system.
This might be the last post for a week or two cause I'm going on a vacation in a few days and will prepare for that. Might trade tomorrow and friday if I have the time but next week will all be laying at the pool zipping on beers Also when I get back from my vacation I'll probably get that prop firm challenge and see if i can find som success with it.Have a great summer all and happy trading!
- #220
- Jul 11, 2024 6:41pm Jul 11, 2024 6:41pm
- Joined Nov 2023 | Status: Trader | 1,398 Posts
{quote} Can you please expand on the success factors that come from outside the chart, and perhaps share that examples that illustrate what you mean by focusing on yourself? Thanks!
Discipline. It's fun theorizing strategy after strategy, year after year, but if you really want trade full time or be profitable for years to come you have to really start disciplining yourself, specifically with your specific strategy and risk management. Only YOU know if you're staying disciplined and focused on your ONE system and mastering each and every day.
Fun. Nothing is worth doing if you don't actually enjoy it. Slow down, appreciate the charts, play some music, study price action, take it all in because it's a beautiful thing to make money by only pressing a few buttons