DislikedAll trades closed on primary targets. +261pips. 16th consecutive win.
Thank you Big E, Dean Malone and everyone else who has done amazing work on this method, specially on this awesome indicator, the TDI.Ignored
FS
- #10,044
- Aug 15, 2011 3:15pm Aug 15, 2011 3:15pm
- Joined Apr 2011 | Status: "Never Give Up - Never Surrender" | 1,608 Posts
No, I prefer 1H. However, you are onto something. So, while posting a trade for everyone to see, a little bit of pride creeps and you go back to making those rookie mistakes.
1. You hold on too long because if I get out too early, that just looks bad.
2. You over-trade because you want to post something.
So in the end, chalk those loses up to the price of education
FS
TDI Angle - cross or bounce
TDI Levels and direction - heading into or out of 32/68
Stochastics Direction - heading into OB/OS
S/R levels
Higher Level Timeframes and any existing trends
Strength of Set-Up candle
Strength of Entry
Lower Level Timeframes - Current Price Action to support the TDI
It has stopped me taking a buch of dodgy set-ups over recent weeks. I still get it wrong occassionally, but only when I am not 100% on my game / have distractions (life) interfering. When I have a losing trade I always review the entry criteria and run the analysis again - albeit with hindsight. It is amazing how many times you will spot a basic error which was missed in the heat of the trading.
As far as getting out too early - there are always occassions where a trade stalls out before hitting your profit targets and then it is time for the tough decissions - in or out. Exiting with a profit based on following your trading plan shouldn't be an issue - TP target / TDI / Candle patterns, etc. This is one of the reasons I mostly trade H4 and Day between 9 - 10:30 pm PDT - less stress and less opportunity to futz with the trade once it is running.
With regards to over trading - this is my biggest weakness right now! Currently trying to avoid the urge to run with more than 2 - 3 trades concurrently and not be overexposed on the account, especailly when the signals are all from one of the pairs such as CHF recently.
Here's to continuing education, without the pain element!
"To live with Passion, it takes Courage and Grace to survive"
- #10,048
- Aug 15, 2011 3:37pm Aug 15, 2011 3:37pm
Forexsam
Well done for posting the trades that turned out to be loosers. I hope you learnt from them. I was about to ask you why you had taken them when you announced you were out.
Very few of us have the guts to do what you did and I don't believe many of the boasts of big winning trades. There is little benefit to anyone except the boaster if I post as below
e/u +156 pips
u/s +220 pips
b/s +96
Fred
Well done for posting the trades that turned out to be loosers. I hope you learnt from them. I was about to ask you why you had taken them when you announced you were out.
Very few of us have the guts to do what you did and I don't believe many of the boasts of big winning trades. There is little benefit to anyone except the boaster if I post as below
e/u +156 pips
u/s +220 pips
b/s +96
Fred
I have to laugh, why is it that as soon as we decide to post trades, we actually lose
FS
it is the difference between the entry and the exit. r u a novice in fx?
You can take that a bunch of different ways, especially when you are as tired as I was.. lol
You must be more specific when asking your questions!
My SL was around 40 pips... read some of my other posts..
Donovan