trade mentioned earlier netted +35 pips, went ahead and entered again as based on my 5-minute chart. Currently +3 locked in.
EDIT: Trade S/L hit, +3 it is
EDIT: Trade S/L hit, +3 it is
Low Risk, High Reward Trading Experiment 3,318 replies
kharvell's Trades 433 replies
kharvell's EASY-to-follow thoughts 5 replies
Dislikedtrade mentioned earlier netted +35 pips, went ahead and entered again as based on my 5-minute chart. Currently +3 locked in.
EDIT: Trade S/L hit, +3 it isIgnored
DislikedConsidering you popped by to say hi its only right for me to do the same.
I have read through the thread and looked at the charts and im going to throw some ideas through, ideas that should work for you regardless of timeframe. Firstly do you use market orders? I know they are low TFs and entries would have a little something to do with those squiggles (its blasphemy I tell ya lol) but have you thought of using Stop orders and making adjustments in the event the market continues to move down/up away from you.
So I mean you get a touch of...Ignored
DislikedI am also curious about the number of MAs here. Is it a case that each time you hit an MA you place an order? If so then if the market goes against you, you can place four trades that will all fail? Or maybe its a low timeframe thing?
DislikedSurely you'd have to take half the take profit at 20 pips not 10 pips. That extra 10 pips in this case is a long way on eu.
Nice of you to stop by and expend so much effort on my measly little experiment You have a way of writing good quality posts my friend. Commenting on your comments below in RED. Not sure what your experience with smaller timeframes is; mine is admittedly limited, but I still have certain opinions about why I do things, will try to express them below. Please let me know if you horribly disagree with anything, know that it will be considered. Thanks for stopping by, Razor
DislikedCheck 1-hour chart for flat markets. If price is consolidating in a 100 pip or less range, then wait for movement to resume trading.
Well guys, I've dented my account, down to $97.83. I attribute this to my desire to make a flat market make me money, but as we can see, it's not very profitable, and results in dumb trades. I believe this new rule will filter out most of my losses, but also cause me to trade less. This is ok by me as I would rather trade less and win more than trade more and lose more.
Contemplating switching to a consolidation...Ignored
DislikedDont fall to the lure to change things when it isnt going your way. It is an amateur habit to make changes based on times when plans dont quite work out. If your testing has given you a statistical edge over time then just shrug this off as a bad time, trust me you will have plenty off them.
Stay focused, trade your plan to the best of your ability and move forward when things seem tough. It is a fundamental difference between the good traders and the great.