3Win
4Loss
4BE
to finish up +8
Just happy to be in profit after that roller coaster,
I took the short a few minutes before your first trade at 6.44 I also took your T1 therefore I was down 30 odd pips after the first 20 minutes.
Cheers
Anth
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Morning Anthm, yes it was certainly tricky and 11 trades and coming out with profit from that PA is really good. I hope your 8 pips is enough to buy you a few beers, you deserve it.
I'm glad I stopped when I did, I came back in to see the 9,30 news then watched the signal at 9.38am and considered it but decided against it, it's not going anywhere, still rangebound etc. How wrong could I be??? So that's it for me today, will stick with what is banked.
I saw the signal at 6.44 while I was setting up but only saw an improvement of .5, maybe .6 pip. Do you allow any improvement on the signal close before entry?
Strada.
Morning Anthm, yes it was certainly tricky and 11 trades and coming out with profit from that PA is really good. I hope your 8 pips is enough to buy you a few beers, you deserve it.
I'm glad I stopped when I did, I came back in to see the 9,30 news then watched the signal at 9.38am and considered it but decided against it, it's not going anywhere, still rangebound etc. How wrong could I be??? So that's it for me today, will stick with what is banked.
I saw the signal at 6.44 while I was setting up but only saw an improvement of .5, maybe .6 pip....
Ignored
Um, yes I do wait for some sort of PA improvement on sgnal bar, obviously on the 6.44 case not enough. Do you stick with a 1 pip improvement?.
My break even trades today I was using the excuse of price bouncing off S/R to exit at BE not necessarily a cross. This seems to be helping my account immensly.
I still made my same old mistakes of not taking full profit on the healthy moves.
As far as the beer, I too J__ L___ ,ed to enjoy one, day off tomorrow and prefer to keep the clear head for Bago
Enjoy your day and thanks
anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Um, yes I do wait for some sort of PA improvement on sgnal bar, obviously on the 6.44 case not enough. Do you stick with a 1 pip improvement?. More or less, if it goes to around a pip and comes back a bit I might hesitate and try for a better entry.
My break even trades today I was using the excuse of price bouncing off S/R to exit at BE not necessarily a cross. This seems to be helping my account immensly. Good that you've improved your control of loss and account protection.
I still made my same old mistakes of not taking full profit on the healthy moves. This is the other side of the equation from loss control. the trades that run on are needed to counteract the losses, so important to maximise their profit potential. Sometimes if I'm tempted to exit TP3 early, thinking a move is exhausted, I'll close half of TP3 and let the other half run with a trailing stop. Might be worth considering.
As far as the beer, I too J__ L___ ,ed to enjoy one, day off tomorrow and prefer to keep the clear head for Bago You're right of course, day like today needs a clear head, see you tomorrow, regards, strada.
You Sir are absolute class, I have managed an absolute shocker down 30 pips. I been at it for 3 hours and have given it away. I will analyze more in the morning and post some more difference. Straight away I see your trade 5 I took +6.6 profits and moved SL to BE and of course stopped out after that for +6.6. Went long and lost got back on the original move for +29. I had some awfull loss however. More later Thanks Strada Cheers Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Hi Anthm, trade 5 was down to a bit of luck on my part but also some questionable discipliine and I was lucky to get away with it.
I had already decided I wasn't going to do any more after this trade until price broke free of it's tight range. It did reach +3 and I'd pondered a BE exit but wasn't too concerned due to the tight range and various BO failures.
The 7.56 bar would normally have had me alerted for an exit and i was all set for it. Price did stretch to a further pip and a bit more so I was using my "in a hole" mentality.
(I'm now in the hole so don't panic, I know where the bottom of the hole is so unless it gets any deeper no point in doing anything rash).
As it happens things improved and I saw daylight again.
From a trading point of view this was down more to good luck than any skill, and it also has to be said not very good judgement on my part.
Sorry to hear about your losses today, I'm sure you'll make it up soon enough.
rgds, strada.
Morning
Yesterday once again our entries basically the same.
T1 You BE Me +6.4
T2 You -8 Me -16.8
T3 You BE Me -14.4
T4 You +11.5 Me +5.9
T5 You +37.5 Me -4.8 (I made a mistake yesterday on the forum when I said i took profit on this, I simply exited on the price reversal)
T6 Entry 8.06 Me +28.9 (As I said I managed to get myself back on the short move so not a total disaster here)
T7 Entry 8.59 Me -30 (Disaster)
T8 Signal 9.04 Entry 9.14 TP1+6.6 TP2,3 BE
T9 Entry 9.48 continuation of T8 stopped out at T2and3 -5 total -10
For the session You +41 Me -30
I will get there Strada I will get there.
Just analysing what i do different from you is amazing.
Cheers'
anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Hi Rorieu, I think the easiest way to explain this is:
I always know what my trade size is going to be in terms of value per pip.
When I enter a trade I will enter 3 times that amount per pip (spreadbetting).
This allows me 3 exits (TP1, 2 3).
On the recent charts the pip count gained or lost for each TP exit is shown.
The day's "total" is simple addition of all the exits' results.
ie for today it was +73 pips.
And just to confuse matters, sometimes I drop down to 2 exits or even 1 if entering in a continuation move. But whatever happens my pip value remains constant and I just multiply it by the number of exits I'm planning.
I'm not sure if this clarifies or confuses matters, please let me know.
Hope you're well, how are you doing? strada.
Strada sorry for late response but after trading yesterday I had to shut the thing down and leave the house. I took the long signal at 6.56; the confirmation bar at 8.57 went a full 1.5pips above the signal bar, guess where I executed the buy order? Yes you got it right at the 8.57 high. I took a full stop of -30 on this, because it was a sharp move south I decided to hold on. I was stopped at 7.01 and went straight into the short trade. Here is the interesting bit, because the 7.16, 7.17, 7.18 and then the 7.22 bar all bounced of the same level I exited at 7.23 for -2 (ie-6) Loss. My reasoning was because it had bounced 4 times of the same level I did not think it was going further south. I think looking back it was all in the psychology of not wanting to experience the pain as I did on the 6.56 trade. I made similar stupid decisions with your T2 which was my T3. Anyways I will soldier on Cheers Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Morning Anthm, yes that must have hurt and I doubt it's any consolation but you're not the first to take a beating in this way.
After the fact I know, but I saw the signal and didn't take it, here's why.
When I start I take a look back for all sorts of reasons but one of them is to check if there is already a move going on and yesterday at that time this was the case, the move started just after 6am. I then ask myself, would I in normal circumstances enter a trade at that stage of an established move?
The signal at 6.56 I considered as a continuation of the previous move and so I didn;t use it. If I had it would only have been 1 or 2 TP's and would have been out on the recross at 6.58/59.
This rule as part of your strategy will help to keep you out of trouble and minimise any losses.
I can well understand what was in your head after that, it's a killer in trading mentality and you probably did the right thing rather than seek revenge from the market which would undoubtedly have cost you a lot more, I have the scars for that one.
Today another day and started OK, apologies if this a bit disjointed, doing it while watching the 6.59.
Got your PM, will respond later when finished.
regards, strada.
Strada sorry for late response but after trading yesterday I had to shut the thing down and leave the house.
[font=Calibri][size=3]I took the long signal at 6.56; the confirmation bar at 8.57 went a full 1.5pips above the signal bar, guess where I executed the buy order? Yes you got it right at the 8.57 high. I took a full stop of -30 on this, because it was a sharp move south I decided to hold on. I was stopped at 7.01 and went straight into the short trade. Here is the interesting bit, because the 7.16, 7.17,...
Thanks Strada
Have a good weekend, Time my enemy today,
I have to go, took 25 on the 7 oclock move and BE on the 6.45 signal.
Cheers
Anthm
Ignored
In the same trades as you today and a good end to the week.
Textbook stuff this morning, T2 still going and would have yielded more but I was looking for a reason to finish so used the weakness on the higher low and finished with 44 pips for the day, happy with that.
Strada.
Nice work i just on the train going to work may i quickly ask what your stop loss was after takingTP2
Cheers anthm
Ignored
I was still working on BE given the PA, or of course a 5/12 recross. On the 5/12 recross, when it is only TP3 running I'll be a bit moore flexible as long as the RSI hasn't crossed.
Hi members this is my first post in this thread I really like ur method , I have some confussions hope u ppl can help m
first what time u ppl start trading I seen there are so many crosses in the whole day which cross is more reliable?
regards
Mujtaba
Hi Mujtaba, welcome. Trading times for bago are just about any time and depending on which instruments you like to trade.
My own preference is EU and GU and during the Euro/London session. Bago works well on these pairs through the US session too. The asian session may be better suited to the yen or aud or nzd pairs.
As long as there is reasonable liquidity and volatility.
Wish you well with it, any queries just throw them on here and I'm sure someone will respond.
cheers, strada.
Hi members this is my first post in this thread I really like ur method , I have some confussions hope u ppl can help m
first what time u ppl start trading I seen there are so many crosses in the whole day which cross is more reliable?
regards
Mujtaba
I was still working on BE given the PA, or of course a 5/12 recross. On the 5/12 recross, when it is only TP3 running I'll be a bit moore flexible as long as the RSI hasn't crossed.
Ignored
Hi Strada
Could you please tell us exactly what you mean when you say " Given the PA " ?? What sort of Price action would you describe it as and also what would be a different example of a different PA that may influence a different SL.
Cheers
Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
