I will tell you "Do as I say, not as I do". Attached is a picture of a short I did. I netted only 2 pips out of this trade, pathetic. I had no reason to exit. It is funny that I have no problem letting a trade breath if I am in the negative because it has not hit my stop, but when I am in profits, I have been real jumpy lately of to getting out of a trade too early. Again once I get the mental hurdle that I have cleared, I will be doing really good.
Attached is the trade. The exit that I "use", or the technical rule is either a close to where the PSAR is triggered to go the opposite way of the trade or a close of a candle on the other side of the HA Smoothed.
with the 2/3 and 1/3 entry, I will have a typical TP because these trades are usually not as strong of a signal. If my TP is hit on these types of trades but then goes on for more, I am ok with it, because I followed the rules. Where I get mad at myself is when I am not following my own rules that I created that has been proven over and over again from reviewing this system.
Well, I may try to play around with the Asian session for a little while. See how this system works at this session. Mainly focusing on Usd/Jpy and Eur/Jpy
Could not sleep so I am back at it. Asian market, nothing to brag about 1 trade one pip. Hopefully starting 2 hours before I normally do will not bite me in the ass. Since I feel I have my entries down, today's focus will be holding on the winning trades better. Only time will tell.
Took a minor beat down on EU. Was at previous high and never waited for confirmation of break. Too eager. Next time wait for confirm. PA is still and always king. Bad read on my end. Will think of this next time I come across this situation. -6
Pic of my EU short taken. Proud of it. Waited for break down, believed in my exit rule.... well at least a little better +12. If I can get +12 on EU, I am happy, so I am not too concerned if it goes much farther. +19 for the day so far.
Must learn to trust my Prime signal. EU Blew past my last exit (R1) by another 35 pips.
Ferrari posted this a few minutes ago.
"Trading in the Zone presents a serious psychological approach to becoming a consistent winner in your trading. I do not offer a trading system; I am more interested in showing you how to think in the way necessary to become a profitable trader. I assume that you already have your own system, your own edge. You must learn to trust your edge. The edge means there is a higher probability of one outcome than another."
Mark Douglas, in the preface section of Trading in the Zone
|
Joined Sep 2006
|
Status: God so loved the World
|941 Posts
let it retrace a little after getting 2 rsi's blue; the 1m rsi turned blue immediately after entry; hand on trigger as it approached 1.5000000000000000000000000000000000000000000000 magic psycho number we've been waiting on.
Closed at weekly R1.
thanks Lorad for good method to try. I lost a few last night trying this out but more chart time will tell if its for me or not. There are so many methods to chose from. I am getting good results at most of them so confusing which one to settle in with.
let it retrace a little after getting 2 rsi's blue; the 1m rsi turned blue immediately after entry; hand on trigger as it approached 1.5000000000000000000000000000000000000000000000 magic psycho number we've been waiting on.
Closed at weekly R1.
thanks Lorad for good method to try. I lost a few last night trying this out but more chart time will tell if its for me or not. There are so many methods to chose from. I am getting good results at most of them so confusing which one to settle in with.
Thanks again,
Steve
Ignored
Nice Trade Steve.
Yes I am working on the retraces and also, not beating myself. Just had a loser of 11 pips. And the bad thing is that I did the exact opposite of a trade that I posted of why I did not take a trade. Mental stuff.
Also I have noticed that last night was not good for this system. Definitely not a system to use as is, during low volume times.
I am working some new rules and some adaptions of of this system for ranging times that on the surface seems to be working great. but I will confirm more before I post it. You can see some of the additional tools on my chart that I have not spoke about yet. Well I hope you find something out of this system that you like. Good trading to you.
|
Joined Sep 2006
|
Status: God so loved the World
|941 Posts
Lohad:
Tried to PM you with this but can't send indy that way.
Anyway, this indy is identical to your rsi except it allows you to use a different color for above 70 and below 30. No big deal but it will eliminate the need for 2 indy's in each window if you find it useful in the future.
I took the levels out of the code since it is annoying and besides you don't use them with your method. It is not MTF so presently only useful in your 1m window.
