Looks like previous buy as per your chart was a loss.Any other filters we could use to prevent that?
Ignored
Losses happen. Losses are a business fee you have to pay for long term profitability.
The outcome of a Trade doesn't determine whether the Trade was good or bad.
If you followed your Trading plan and took the exact setup you are supposed to take, then that's a great Trade. Even if the outcome is a loss.
A filter might remove the loss but also next 3 potential winning trades... and then you add filters.for the filters till you you have unusable junk and you move on again to a new system.
Anyway... first find out whether that System is profitable for you or not... if it is... dont change anything... if it's not... maybe add something.
Looks like previous buy as per your chart was a loss.Any other filters we could use to prevent that?
Ignored
For me the best thing you can do is looking at the market structure and be sure if its a bullish/bearish trend and I personally use volume a lot cause with the strategy it filters some entries.
|
Joined Oct 2024
|
Status: Forklift certified
|94 Posts
USD/JPY SL hit, was right about the flag unlucky.
Probably should implement in the strategy to watch out on market structure and set the SL to break even.
|
Joined Oct 2024
|
Status: Forklift certified
|94 Posts
So yeah GBP/USD going strong, bit warried it could reverse and go for the OB, for now the price is at 1:5 of the 1:9RR trade, so could just close the trade but I'm going to keep it open since I'm demotrading. Just going to adjust the SL and make it break even.
So yeah GBP/USD going strong, bit warried it could reverse and go for the OB, for now the price is at 1:5 of the 1:9RR trade, so could just close the trade but I'm going to keep it open since I'm demotrading. Just going to adjust the SL and make it break even. {image}
Ignored
Like I said it went back for the OB, so break even got it, like I said could have closed the trade at 1:5RR but I'm on a demo account so no worries.
|
Joined Oct 2024
|
Status: Forklift certified
|94 Posts
So this is a summary of this week trades (still open or already SL hit or TP hit)
First EUR/USD 2 trades, both TP, first one is a 1:7RR and the 2nd is a 1:3RR;
Second USD/JPY one trade still going and it's a 1:3RR;
Third NASDAQ two trades one still going and it's a 1:9, closed one was a TP and is a 1:8RR;
For last XAU/USD went for the same trade as colmconneely I just adjusted SL and TP to a 1:8RR.
Good week if had real money on those positions.
See yall next week.
