I think you have just been unlucky with this trade, no system is 100%................ i must have traded the same setup or worse last week 10 times without any losses.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
- #6,081
- Jun 22, 2011 10:52am Jun 22, 2011 10:52am
- #6,083
- Jun 22, 2011 11:00am Jun 22, 2011 11:00am
You are correct. This week was bad some how. I have had 3 straight loses with week. Though i went too far by taking counter trend on 1 hr time frame. Just like some hours ago, lost again on eurusd sell (another counter trend on 1hr i posted ealier). I will strictly adhere and wait on 4hr time frame for my bounce-trend method i have been using before and always wait for good entries.
- #6,085
- Jun 22, 2011 11:21am Jun 22, 2011 11:21am
Well, you are still herenote, it says Trading Made Simple, not Trading Made EASY, hey that would be a great thread for Big E, get it, Big E = EASY, oh, never mind....
True, trading has never been easy, even if you have a simple system, the system is maybe only 40-50% of your success. Trading goes beyond a simple system, a good example is money management, how many people cut their wins at 20-30 pips using 4 hours charts and let hit their stop loss of 80 pips or add more hoping to recover.
Trading is not easy.
Indicators always obey Price, not the other way.
- #6,086
- Jun 22, 2011 1:10pm Jun 22, 2011 1:10pm
Discipline my friend! You made huge amount of pips, so why change anything
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
- #6,093
- Jun 22, 2011 3:06pm Jun 22, 2011 3:06pm
What a pity, I blindly followed the indicators on the EUR/AUD 4 hour. It showed a short. I went short - trade is not over but sitting at 20 pips loss.
Finsia, I'm sure you've heard it many times but; with any system there will be losses. If you trades a system with 100 indicators, ( I hope not ) and they all indicated a short trade and you entered short, the market could turn against you on the very next tick. Nothing you can do about it, it happens. Just don't let it get you down.......
Hej.
- #6,096
- Jun 22, 2011 3:37pm Jun 22, 2011 3:37pm
Just don't let it get you down.......
Indicators always obey Price, not the other way.
Ok I'm assuming you took that weak bounce trade. It was a small candle, low volume, not a great angle either. Wrong time of day for trading.
Did you check lower TF before trading, PA on the H1 was flat and TDI hooking over.
Its hard to advise you though without seeing your chart and when you entered.
I'm in the same trade off the bounce, but I got in an hour earlier at 12pm because I set my 4HR bars to be 8am, 12pm, 4pm, 8pm, ect... EST. So I'm down about 27 pips. I'm also in a few others that bounced at that time also. CHFJPY, EURCHF, EURUSD (entered it at the 4pm bar).
For EURAUD at that time it looked like the TDI was good.
Stoch was confirming and TDI hadn't hooked at 12pm on the 1HR.
(Draw yellow line to show signal/bounce bar, entered at next bar open).
Now that you mention it, looking back, it does look like the HA bar is kind of weak (HA bars are the bars under the price chart).
Also, from the extensive backtests I've ran, 12pm isn't the optimal time to trade anyways, but I'm just learning the chart reading aspect and entries and exits for the demo account, so I'm trading all bars.
The top performing times in my backtests are 12am, 4am, 8am, EST. 4pm (had some good results also). So I'll probably only trade those times once I refine my skills with this strategy. Basically it's the London session, as we all already know.
But there's still lots of hours before the trades get closed. Lots of time for them to all turn into winners
Lain
