MTF Engulf / Engulf fail | Page 214 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Engulf Bar Trading Journal 19 replies

MPE - Momentum, Pullback, Engulf 33 replies

Trade management - moving stops to BE+ after opposing engulf 2 replies

Engulf Alert Indicator 1 reply

MTF Stochastics into MTF Stoch Histogram 8 replies

Attachments: MTF Engulf / Engulf fail
Exit Attachments

MTF Engulf / Engulf fail

  • #4,261
  • Aug 8, 2024 2:06am Aug 8, 2024 2:06am
Quoting Inthebox
{quote} no i do not have collection of any statistics. it does not make sense to any learners due to same hardware (method) but different software (mental toughness and trading experience). one method can be learnt by 10 traders but all will come back with different results. if any statistics is needed to, it would be from this 2 year thread which required the learner himself ploughing through. performance i would say for me is 85% success rate which would be meaningless to the rest of the learners as i have more than 10 years of trading experience....
85% win rate is very good.
What's the Risk/Reward ratio?
  • #4,262
  • Aug 8, 2024 2:27am Aug 8, 2024 2:27am
Quoting ZeusDaMan
{quote} 85% win rate is very good. What's the Risk/Reward ratio?
i do not use risk/reward ratio.
usually TP around support resistant with a return of 1 - 2 or even 0.5%.
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,263
  • Aug 8, 2024 2:36am Aug 8, 2024 2:36am
Quoting Inthebox
{quote} i do not use risk/reward ratio. usually TP around support resistant with a return of 1 - 2 or even 0.5%.
With an average R/R ratio of 0.5 your expectancy is 0.85*0.5 - 1*0.15 = 0.275
For example, if you risk $100 on every trade, you can expect to make $27.50
That's a decent edge.
  • #4,264
  • Aug 8, 2024 3:38am Aug 8, 2024 3:38am
pretty tough this week.
Ranging.
  • #4,265
  • Aug 8, 2024 5:43am Aug 8, 2024 5:43am
Nowadays, the market is moving better in the ASIA than in the Europe session.
Success = Practice + Patience + Persistence
  • #4,266
  • Aug 8, 2024 5:56am Aug 8, 2024 5:56am
Quoting fxpider
Nowadays, the market is moving better in the ASIA than in the Europe session.
LoL, as I was posting, the market did a range expansion proving me wrong.
Success = Practice + Patience + Persistence
  • #4,267
  • Aug 8, 2024 6:17am Aug 8, 2024 6:17am
GOLD: Don't lose sight of the bigger picture.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 18 KB
Success = Practice + Patience + Persistence
  • #4,268
  • Aug 8, 2024 6:19am Aug 8, 2024 6:19am
Quoting Inthebox
practise this. studying price at specific time of the day. {image}
studying price at specific time of the day.
previous day high taken.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,269
  • Aug 8, 2024 8:18am Aug 8, 2024 8:18am
Quoting Inthebox
{quote} studying price at specific time of the day. previous day high taken. {image}
get back my loss and be green now.
closed all at 2408 at early up.

lets see this 1h unicorn can be continue up or not.
i just aim 2418 that is enough for me.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_9821.png Size: 63 KB
  • #4,270
  • Aug 8, 2024 9:14am Aug 8, 2024 9:14am
Ok done.
i can sleep well tonight
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_9825.png Size: 61 KB
  • #4,271
  • Aug 8, 2024 9:19am Aug 8, 2024 9:19am
Quoting Inthebox
{quote} studying price at specific time of the day. previous day high taken. {image}
another previous day high
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 9 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,272
  • Aug 8, 2024 6:00pm Aug 8, 2024 6:00pm
Quoting Inthebox
{quote} asia session gold results. floating loss at the moment, will average out costs. hopefully, today's profits able to mitigate loss, if any. {image}
Quoting Inthebox
i guess this week i have to wait whether this will come true or not. {image}
floating loss offset.
paradise regain.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 20 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,273
  • Aug 8, 2024 6:10pm Aug 8, 2024 6:10pm
day high target as direction.
remember it's friday.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 14 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,274
  • Aug 8, 2024 6:10pm Aug 8, 2024 6:10pm
Quoting Inthebox
{quote} {quote} floating loss offset. paradise regain. {image}
No sir, I don't have that kind of composure. I would be stressed out of my mind with floating loss. I prefer to cut loss fast and relieve stress. Every time I don't cut loss, i always take HUGE loss. Never regretted cutting loss. Always regretted taking profit. You and this one Malaysian trader Pat chiko have big balls for sure.
Just by itself, winrate is 50%, but with multitimeframe winrate is 90%
  • #4,275
  • Aug 8, 2024 6:18pm Aug 8, 2024 6:18pm
Quoting melord
{quote} No sir, I don't have that kind of composure. I would be stressed out of my mind with floating loss. I prefer to cut loss fast and relieve stress. Every time I don't cut loss, i always take HUGE loss. Never regretted cutting loss. Always regretted taking profit. You and this one Malaysian trader Pat chiko have big balls for sure.
Quoting Inthebox
gold analysis for coming week. as it hangs around the all time high, it would be difficult to make any meaningful directional bias. it could be slightly to the upside due to the weekly candle, however the daily would have to confirm it. the 2 daily dojis could be a warning to trade sparingly. edit: at the same time, d1 price bounced up from fvg. {image}
you do what you think fits your personality.
it is not that i held on for no reasons. it's all according to my weekly plan.
on looking back i would have follow the daily first, and then the weekly.
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,276
  • Aug 8, 2024 9:07pm Aug 8, 2024 9:07pm
Quoting Inthebox
day high target as direction. remember it's friday. {image}
direction is up.
asia open trades.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 8 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,277
  • Aug 8, 2024 11:21pm Aug 8, 2024 11:21pm
Thinking of this for today
No trade for now.
it took bsl then next for ssl first bfr continue go up?
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_1496.png Size: 62 KB
  • #4,278
  • Aug 8, 2024 11:33pm Aug 8, 2024 11:33pm
Quoting LeongPuiy
Thinking of this for today No trade for now. it took bsl then next for ssl first bfr continue go up? {image}
that's 500 pips drop. is it likely? check the average true range.
not only look at bsl and ssl. there's also fvg.
could also be that asia ssl has been taken.
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,279
  • Aug 8, 2024 11:39pm Aug 8, 2024 11:39pm
Quoting Inthebox
{quote} direction is up. asia open trades. {image}
What are the rules to determine the direction? and
When/how to know that the determined direction is wrong (to cut losses)?
Success = Practice + Patience + Persistence
  • #4,280
  • Aug 8, 2024 11:51pm Aug 8, 2024 11:51pm
Quoting fxpider
{quote} What are the rules to determine the direction? and When/how to know that the determined direction is wrong (to cut losses)?
my style.
up when daily closed above previous high.
if closed above previous body but not high, slightly to the upside.
wrong when another daily closes below previous low.
to a lesser extent closes below previous body.
if you find too big range, up to individual to use h4 or h1 swing low break.
ITB - Seeing Orderliness amongst 'Randomness'
2 traders viewing now