S&R short term bounces

trade # 67

-26

trade # 68

eur/usd - short

TP 13
SL 26

trade # 68

+13



trade #69

eur/usd - short

TP 13
SL 26

trade #69

+13

Nice trading Findus.

thanks Sam! at the moment it´s not going any further with the profits. but at least I´m not loosing. I´m ok with that for now, but I think
it needs some small tweakings which could make it more precise or more profitable, but I´m not quite sure what it is. I definitely know that
I could make better entries and maybe that alone would make it more profitable, but the problem is that I´m late pretty often. I open the
platform, see it already bounced a little bit and then I jump it. and sometimes cos of that bad price my profit doesn´t get hit. also I think
I could take profit earlier, when price bounced and then stops again right some pips before my TP. but maybe I will test that later, when I
have made at least 100 trades with fixed parameters....

Currently you have logged trade 63 on the first page as a loss but its a win.

Good Lookin, thank you for that hint! that makes the profit look a little bit better and makes me feel a a bit better.
I don´t know how that happened... maybe I was in a rush or something...as so often... thanks mate.

Hi Findus,

I like your trading style, however in my opinion the risk to reward ratio you are currently using would not be profitable in the long run too. I checked your trades on first page and notice that your win rate is about 70% approximately which is very good but you are actually winning less than 2 pips per trade (116 Pips / 69 trades).
You have to think in long term profit expectancy because your risk to reward ratio is 2:1 instead it should be the other way around.

Let me explain, what I meant by long term profit expectancy (PE) = (probability of winning trade * average size of winner) - (probability of losing trade * average size of loss).

For example out of 100 trades taken your win rate is 60% and average winner is 1.2R (in terms of risk to reward ratio) and your loss rate is 40% and average loser is 0.9R, so your long term profit expectancy is 0.36R per trade. Try using above formula and see what your current profit expectancy and work out from there.

Moreover, one more thing I would like to suggest is review all your 69 trades and see if you put standard 13 pips SL and 26 pips TP what would be your end result.


alifari

Hey Alifari,

thank you for your suggestions and comments on my trading! I know that my risk reward is not what most people would consider as
a good one. but this risk reward fits to my method and my thinking behind my trading. I think it´s a good suggestion to look back on my trades and see
if a risk reward ratio the other way around would be profitable as well. And I think if I find some time, I´m gonna do that.

But see my thinking behind my trades is that I expect price to stop at and bounce just a little bit at specific levels. I don´t know where exactly price will
bounce so I just enter at those levels with a pretty big SL which keeps me away from getting stopped out too often(for example: bounce occurs 10pips above the level / SL hunting or whatever....). Most of the time price will bounce a little bit (small TP) around those levels. So I don´t expect a turn around of the price or a trend change, that´s why I use small TP. Price just stops and breathes and might continue or turn around...I don´t know and I don´t care. I just know that it will bounce most of the time and that is what I´m playing with.

A small SL would mean I know exactly where price will bounce (which I don´t). And a bigger TP would mean I will expect price to reverse (which I don´t). So a swapped RR just doesnt´fit to my method I think. But you are right, maybe I should just go through my past trades and have a look on that

I don´t know if I can explain my trading clearly, cos it´s pretty hard for me trying to explain my thoughts.

So thank you again for your thoughts! And please go ahead if you have more comments or something to add...

Findus

trade # 70

gbp/usd - long

TP 13
SL 26

trade # 71

eur/usd - long off support and RN

TP 13
SL 26

trade # 70

+13

trade # 71

+13

trade #72

gbp/usd - short

TP 13
SL 26

I understood your point of view. In my opinion each trader is different and they have to do what they are comfortable with. All the best....

EU @ 1.3042 long

trade # 72

+13

Keep an eye out for the USD news here in 4 mins, it will keep me out of this euro level. Nice trading today on your end, really liked the euro trade you took earlier. **edit, just checked the front page, congrats! +155, great progress!