Fail Better | Page 239 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

A better Editor for mql is available. 100x better than MetaEditor 20 replies

Broker needs to do better, much better 4 replies

Better momentum and better Sine wave indicator 0 replies

Mathematical reasons why MOST DayTraders & scalpers fail? 197 replies

Is Better still better? 1 reply

Attachments: Fail Better
Exit Attachments

Fail Better

  • #4,761
  • Dec 4, 2012 8:32am Dec 4, 2012 8:32am
EUR/CAD H4 Pinbar / Daily SFP. Comes with Daily Level Confluence.
  • #4,762
  • Dec 4, 2012 8:39am Dec 4, 2012 8:39am
Not the funniest way to be stopped out on an SFP play.
Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 64 KB
  • #4,763
  • Dec 4, 2012 8:40am Dec 4, 2012 8:40am
Quoting Mezzy
That is not a SFP unless your referencing something off to the left we cant see.
Hey Mez,
the previous swing was just far before. Can't show it on a M5 chart hehe
  • #4,764
  • Dec 4, 2012 8:42am Dec 4, 2012 8:42am
Quoting Rust
Hey Mez,
the previous swing was just far before. Can't show it on a M5 chart hehe
where was your stop?
  • #4,765
  • Dec 4, 2012 8:44am Dec 4, 2012 8:44am
Quoting NTM
Where dyou put your stop? At swing high?
Well, i don't want to comment on stops for those SFP plays, because it's discretionary and i think the best way is to test what's the best for you.
You may put it behind the last high/low - best R:R, but sometimes these work after they take the current high/low.
You may wait for a close, or put a buffer. You may use ATR for a buffer.
Whoever do their homework will know the answer
I'm currently doing mine

On the last example i post (AUDCAD) you can see that even using a buffer didn't help AND it worked. So it's about to find the balance between not giving back a lot of R, and still keep a decent strike rate.
  • #4,766
  • Edited 9:07am Dec 4, 2012 8:48am | Edited 9:07am
Quoting Rust
Not the funniest way to be stopped out on an SFP play.
Attachment

Thats still not a SFP brotha, gimme a few minutes, I'll draw out a chart for you of a proper SFP. I'll edit this post shortly with my completed chart.

Edit: Chart uploaded. I used one of your charts so you can hopefully see it more clearly.
Edit2: Uploaded entry/sl/tp criterion since I noticed someone asking about it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: rust sfp.png Size: 62 KB
Click to Enlarge Name: rust entry.png Size: 61 KB
  • #4,767
  • Dec 4, 2012 9:23am Dec 4, 2012 9:23am
Quoting Mezzy
Thats still not a SFP brotha, gimme a few minutes, I'll draw out a chart for you of a proper SFP. I'll edit this post shortly with my completed chart.

Edit: Chart uploaded. I used one of your charts so you can hopefully see it more clearly.
Edit2: Uploaded entry/sl/tp criterion since I noticed someone asking about it.
Hey Mez,
take a second look :
Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 75 KB
  • #4,768
  • Dec 4, 2012 10:04am Dec 4, 2012 10:04am
I see what your saying bud. I just think that it doesn't look like a good setup to me. I can't quite put my finger on it, because I'm no expert, but here's my feelings;

It's quite far from the previous swing.
The previous swing is more like a double top instead of a clear swing high.

Yeah that's how I feel about it.

I think if your entry criterion was a little more like mine it would have saved you: enter on the bearish a pip or two below the sfp bar. But that's neither here nor there.

Really I just feel like its too far apart thats the thing that really makes me go, "mmm, I'll pass."

There are actually several SFP patterns there in that image that are closer together, which I feel the closer the happening the more relevant.


But I see why you consider it a SFP. Please don't take offence to my critique, none intended.
  • #4,769
  • Dec 4, 2012 10:12am Dec 4, 2012 10:12am
Quoting Mezzy
Thats still not a SFP brotha, gimme a few minutes, I'll draw out a chart for you of a proper SFP. I'll edit this post shortly with my completed chart.

Edit: Chart uploaded. I used one of your charts so you can hopefully see it more clearly.
Edit2: Uploaded entry/sl/tp criterion since I noticed someone asking about it.
Thanks, I was just wondering cuz I noticed wizard puts his stops further away...

RE: Rust's trade, see that swing high to the right of your major swing? Price found support there and rallied. That high is what would've kept me out, or waited for a close below it. My 2c.
  • #4,770
  • Edited 1:12pm Dec 4, 2012 12:06pm | Edited 1:12pm
Another SFP play for today:

Attached Image (click to enlarge)
Click to Enlarge Name: 123.jpg Size: 102 KB


You like this better, Mez?

EDIT :
fast and easy:
Attached Image (click to enlarge)
Click to Enlarge Name: 1234.png Size: 73 KB
  • #4,771
  • Dec 4, 2012 2:05pm Dec 4, 2012 2:05pm
SFP just formed on H1 EU, time to go short.
  • #4,772
  • Dec 4, 2012 2:38pm Dec 4, 2012 2:38pm
Quoting FX Dreamer
SFP just formed on H1 EU, time to go short.
Which level was breached?
  • #4,773
  • Dec 4, 2012 2:46pm Dec 4, 2012 2:46pm
Quoting Rust
Another SFP play for today:

Attachment

You like this better, Mez?

EDIT :
fast and easy:
Attachment
Yeah I would have waited till bullish confirmation on next bar though. But it all depends on what kind of target you have.
  • #4,774
  • Dec 4, 2012 3:22pm Dec 4, 2012 3:22pm
Quoting GotPips
Which level was breached?
1.3106 was breached by a pip or so.
  • #4,775
  • Dec 5, 2012 5:46am Dec 5, 2012 5:46am
Quoting Porkpie
Hey Tom, whats the deal with Futex Pro Trader? Is it a white label of pro spreads?
Yes, it is a white label but I don't know much more about it other than that.
  • #4,776
  • Dec 5, 2012 5:51am Dec 5, 2012 5:51am
Quoting the_wizard
Yes, it is a white label but I don't know much more about it other than that.
do you trade at futex?
  • #4,777
  • Dec 5, 2012 7:11am Dec 5, 2012 7:11am
SFP quickie for today:
Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 66 KB


I am still a newbie on these SFPs, doing my record on them the last 2-3 months .... and they just don't want to fail.
  • #4,778
  • Dec 5, 2012 10:48am Dec 5, 2012 10:48am
Quoting Rust
SFP quickie for today:
Attachment

I am still a newbie on these SFPs, doing my record on them the last 2-3 months .... and they just don't want to fail.
I like that one! Bet you could ride it down quite a ways.
  • #4,779
  • Dec 5, 2012 12:31pm Dec 5, 2012 12:31pm
anyone about webinar?
  • #4,780
  • Dec 5, 2012 12:41pm Dec 5, 2012 12:41pm
Quoting pex
anyone about webinar?
The normal schedule for Webinars will resume this Sunday. From the e-mail Tom sent out 4 days ago:

Quote
I am writing this email just to let you know the schedule for the
supporting webinars for the rest of the year.

I will be moving them from Wednesdays back to Sunday's at the
usual time of 6.30 - 8.00PM UK Time. There will not be one this
Sunday 2nd but they will resume next Sunday, 9th December.
0 traders viewing now