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Buildcity's Trading Journal

  • #1,281
  • Dec 3, 2010 11:15pm Dec 3, 2010 11:15pm
Thks for the sharing, I tend to cut half off and move the rest to BE level, for me it feel much better cos at least I still have some pips.

No worry, just different approach



Quoting alifari
Eric,

Thanks for your reply.

My Win Rate is about 65% and I am expermenting different money management techniques in terms of Risk/Reward, such as taking half off once price is 7 pips in profit and instead of moving stop loss to break even, I set it to -7 pips. As I observed lot of time price retrace to atleast 50 to 60 percent of previous candle (which is one's entry point) considering spread and slippage. This technique gives our entry little breather and chance for big runner. If price come back and hit our stop loss then still its a breakeven...
  • #1,282
  • Dec 5, 2010 11:36pm Dec 5, 2010 11:36pm
Nice small start. +9p

Placed the order then lunch, came back TP is hitted.

PS - switch down to M5 in slow market
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  • #1,283
  • Dec 6, 2010 7:30am Dec 6, 2010 7:30am
1st BE +8 BE out, hitted by retrace
2nd +1 BE out
3rd + 24, seems no more momentum down, see little right side, some consolidation there, manual out. No wait to bottom support, CAD news is coming anyway
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  • #1,284
  • Dec 6, 2010 7:35am Dec 6, 2010 7:35am
Well, few minutes..... after manual cut, well hit my TP, if all 3 orders here.........


Quoting Buildcity
1st BE +8 BE out, hitted by retrace
2nd +1 BE out
3rd + 24, seems no more momentum down, see little right side, some consolidation there, manual out. No wait to bottom support, CAD news is coming anyway
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  • #1,285
  • Dec 6, 2010 8:17am Dec 6, 2010 8:17am
Quoting Buildcity
Nice small start. +9p

Placed the order then lunch, came back TP is hitted.

PS - switch down to M5 in slow market
did u sell from resistance as price showed it couldn't get higher(pin bar formed).. that was inside range play... i see u play mostly from that support/res levels.. do you still consider the momentum?
  • #1,286
  • Dec 6, 2010 8:26am Dec 6, 2010 8:26am
Quoting Gravi
did u sell from resistance as price showed it couldn't get higher(pin bar formed).. that was inside range play... i see u play mostly from that support/res levels.. do you still consider the momentum?
Trade with smaller momentum between smaller s/r zone, still trying........
  • #1,287
  • Dec 6, 2010 9:31am Dec 6, 2010 9:31am
Too tight BE, now just approached to r/n
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  • #1,288
  • Dec 6, 2010 11:13am Dec 6, 2010 11:13am
one thing I still focus on is the win / loss size ratio, even I have bit higher win %, it still sometime cant get the balance, 2 to 3 full SL hits cost me the whole day profit.

- high profitability / low risk; ~ how
- keep smaller sl, but high sl rate; ~ keep on jump in market, no good
- bigger sl / bigger target; (no!!)

looking forward to improve!!

times to sleep, good night
  • #1,289
  • Dec 6, 2010 11:41am Dec 6, 2010 11:41am
Quoting Buildcity
one thing I still focus on is the win / loss size ratio, even I have bit higher win %, it still sometime cant get the balance, 2 to 3 full SL hits cost me the whole day profit.

- high profitability / low risk; ~ how
- keep smaller sl, but high sl rate; ~ keep on jump in market, no good
- bigger sl / bigger target; (no!!)

looking forward to improve!!

times to sleep, good night
Buildcity,

Love the thread and what you are doing. I've been following it for sometime now and thought I would make a post. I was reading your previous post and got a chuckle cause i was at a meeting about a month ago and basically asked some of the experienced traders there the same thing you just said.

Here was the suggestion that they gave me:

To start, I only have 5 trades I'm allowed to make per day. I'm having a super hard time with this right now, cause I'm looking at all these trades I want to put on but can't. It's forcing me to really take a serious look at my entries and where my TP are located at.

The other suggestion was to look at where I'm determining my TP should be and determine my RR at half of that number and to look for only 3-1 trades and keep my SL <10 at all times.

Just a suggestion on something I was told to try and do from some VERY successful traders.

I would love to hear your opinion on this also,
Simple
A woman drove me to drink, and I forgot to thank her
  • #1,290
  • Dec 6, 2010 9:02pm Dec 6, 2010 9:02pm
Hi Simple,

Thanks for the sharing. Sounds good but honest hard to implement.

May be I get used to put my SL around 20 (which is auto run by my EA, always risk 1st in case I forgot, hehe), and I still need a room for the trade development. SL at max 10 doesn't work for me at the moment.

Hence, working on better RR ratio otherwise higher hit rate can't compensate several SLs being hitted in my case. In the sense from this beginning, looking for low risk / high profitability trade may probably the way I should focus on. Will see.

Good to share.
Eric


Quoting simpleguy
Buildcity,...
  • #1,291
  • Dec 6, 2010 11:30pm Dec 6, 2010 11:30pm
Just took a short from the extreme (top s/r) down to today's open. Quick scalp for +12p
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  • #1,292
  • Dec 7, 2010 2:11am Dec 7, 2010 2:11am
bingo!!

Passed the upper s/r zone, momentum is with me.

2nd half manual stop nearby r/n
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  • #1,293
  • Dec 7, 2010 2:33am Dec 7, 2010 2:33am
Quoting Buildcity
bingo!!

Passed the upper s/r zone, momentum is with me.

2nd half manual stop nearby r/n
This explanation could be better, spot this kind of trade should be lower risk, higher profitability my thought
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  • #1,294
  • Dec 7, 2010 6:52am Dec 7, 2010 6:52am
Ther EJ today treads me well!!

PS - hope the 2nd chart could help
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  • #1,295
  • Edited 7:45am Dec 7, 2010 7:27am | Edited 7:45am
Pay too much attention on GU, missed the EJ pin up, woow.... at least a 20 run!!

Edit: I need more patient, a 30 run on this!!
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  • #1,296
  • Dec 7, 2010 7:43am Dec 7, 2010 7:43am
Quoting Buildcity
Pay too much attention on GU, missed the EJ pin up, woow.... at least a 20 run!!
What I mean the pin on EJ......
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  • #1,297
  • Dec 7, 2010 8:15am Dec 7, 2010 8:15am
...
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  • #1,298
  • Dec 7, 2010 8:19am Dec 7, 2010 8:19am
I am losing concentration now, too tired..... better keep my profit today.

off trading today.

ps - writting too much explanation, lost focus on trading
  • #1,299
  • Dec 7, 2010 8:23am Dec 7, 2010 8:23am
Seems better now to resolve my confusion on demand & supply zone and momentum trading.

Really appreciated Sho who brought me to the world of price action trading.
  • #1,300
  • Dec 7, 2010 8:42am Dec 7, 2010 8:42am
nice trades!!!
pls take a look at your charts...
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