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  • #861
  • Sep 5, 2013 1:59am Sep 5, 2013 1:59am
Quoting mmaker
{quote} What does it mean by "sl must not be very tight or very large"? It's like saying you must trade "safely" and "carefully". How do you define the appropriate stop loss size? "Medium distance"? Such advice is high horse and does nothing useful. {quote} Just one small request though ..... if you could post 15mins chart wherever possible. Thanks.

I'll post m15 charts if the trigger is from m15. Doesn't really makes sense if I take a setup from H1, and post from m15 as it'd be weird.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #862
  • Sep 5, 2013 2:08am Sep 5, 2013 2:08am
Quoting mmaker
{quote} Absolute rubbish unless you show your TradeExplorer or Myfxbook, how you define such "trend change" distances. Utter nonsense.
Hum absolutely rude behavior exhibited by my fellow trader .

http://www.myfxbook.com/members/XharpScalper/xharpscalperclassic/605832

my profile link , you don't agree with me i never mind.
  • #863
  • Sep 5, 2013 2:27am Sep 5, 2013 2:27am
Let's talk bout charts, and help each other shall we?

Open trade: USDJPY short

m15 chart (just happened )
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H1
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SL hidden behind BRN 100.00.

UPDATE: Stopped out quicker than a blink of an eye.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #864
  • Sep 5, 2013 3:19am Sep 5, 2013 3:19am
Open trade: EURJPY short

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #865
  • Sep 5, 2013 5:57am Sep 5, 2013 5:57am
Quoting keroro0o0o
Open trade: EURJPY short {image}
UPDATE: Stopped out. Losses after losses...no more live trading for the week, back to demo for abit.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #866
  • Sep 5, 2013 8:32am Sep 5, 2013 8:32am
Quoting XharpScalper
{quote} Good question , "sl must not be very tight?" = stop loss must allow market to breath means that markets do move in line to wards a direction they make cycles , stop loss must save us if market is changing its direction , "its must not be very large?" = if market has changed direction there is no reason for us to give our money to the market "it must be a medium distance?" = difficult part of the puzzle hmm isn't it? medium distance must be such distance which doesn't hurt your account it is within the trend range and it safeguard you...
Did you give too large stop loss on Jul31? What advice can you give?
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  • #867
  • Edited 8:56am Sep 5, 2013 8:36am | Edited 8:56am
no it was my mistake of large lots and no sl , closed it to late .

we all do mistakes but we must learn from them.

I was thinking of buying ps3 , trade setup was very good greed factor came in and ......... i used large lot against them system setup failed and game me a handsome loss.

My advice would be always use SL and dont let fear or greed take control of you.
  • #868
  • Sep 5, 2013 9:05am Sep 5, 2013 9:05am
Quoting keroro0o0o
{quote} UPDATE: Stopped out. Losses after losses...no more live trading for the week, back to demo for abit. {image}
Was there any better way for SL placements? Well, I guess there're times when the market is just unpredictable. That's where Risk management comes in to save the account. Anyhow, I've taken too many losses in a row, and I'll have to revert to demo trading to fix my psychology and regain my confidence before I dive back in with real money.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #869
  • Sep 5, 2013 9:13am Sep 5, 2013 9:13am
Quoting keroro0o0o
{quote} Was there any better way for SL placements? Well, I guess there're times when the market is just unpredictable. That's where Risk management comes in to save the account. Anyhow, I've taken too many losses in a row, and I'll have to revert to demo trading to fix my psychology and regain my confidence before I dive back in with real money. {image}



keep it up , confidence is must for trading.
  • #870
  • Sep 6, 2013 2:47am Sep 6, 2013 2:47am
Quoting keroro0o0o
Noticed something very very interesting from both of my trading accounts. The equity curves looked almost identical. I've always heard the sayings of "The chart is like a mirror, and the trading results = the reflection of the psychology of the trader".. {image} I believe somehow, I have the basic understanding of the market dynamics and supply demand trading. However, the trading results were telling a whole different story. It almost makes me feel ashamed of what I had been doing. Will take some time to re-capture my thoughts, re-assess my trading...
I noticed that two other traders also had similar equity curves as yours during this period. Maybe the time of year (summer doldrums) somewhat affected the determinants of your price action methods. We are going into September and things might go back to "normal" from here on.

Disciplined -The PAMM Account (khanderoo)
DailySniper (FelixFX)
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No longer trading forex. Looking for full time job.
  • #871
  • Sep 6, 2013 6:47am Sep 6, 2013 6:47am
Quoting mmaker
{quote} I noticed that two other traders also had similar equity curves as yours during this period. Maybe the time of year (summer doldrums) somewhat affected the determinants of your price action methods. We are going into September and things might go back to "normal" from here on. Disciplined -The PAMM Account (khanderoo) DailySniper (FelixFX) {image}
Well, a good trader should be one who prevails no matter what season imo. This means I, together with the 2 traders that you linked the TE are not at the level of "good traders" yet, but it's the dedication/passion that'll decide whether we'll get there or not.

Be consistent, Be persistent!!!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #872
  • Sep 6, 2013 6:55am Sep 6, 2013 6:55am
Open trade: USDJPY short

H4
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H1 (zoomed in view of supply)
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UPDATE: First TP hit at edge of cp (last bit of demand)
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #873
  • Sep 6, 2013 7:34am Sep 6, 2013 7:34am
Quoting keroro0o0o
Open trade: USDJPY short H4 {image} H1 (zoomed in view of supply) {image} UPDATE: First TP hit at edge of cp (last bit of demand) {image}
UPDATE: NFP got the job done quickly.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #874
  • Sep 6, 2013 7:40am Sep 6, 2013 7:40am
Open trade: AUDUSD short

H4
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m30
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #875
  • Sep 6, 2013 9:27am Sep 6, 2013 9:27am
Open trade: USDJPY long

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #876
  • Sep 6, 2013 10:47am Sep 6, 2013 10:47am
Quoting keroro0o0o
{quote} UPDATE: Stopped out. Losses after losses...no more live trading for the week, back to demo for abit. {image}
Follow up: EJ hit my final TP. Apparently, the SL should've been above the swing high since this was gonna be a swing trade. Lesson learnt.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #877
  • Sep 6, 2013 11:22am Sep 6, 2013 11:22am
Quoting keroro0o0o
Open trade: USDJPY long {image}
UPDATE: First TP banked at clear SR flip.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #878
  • Edited 4:49am Sep 8, 2013 4:28am | Edited 4:49am
Spent the weekend reviewing my past trades, and have a great revelation:

Perfect trading IS NOT NECESSARY!

I had been trading with super tight SL's, thinking that the zone I marked will be the price where price would reverse. Not only reverse, but I even anticipated a trend change sometimes, with the puny SL's that I placed. This mindset WILL BE scrapped!

I don't need perfect entries/perfect exits to be profitable.

Some revelations/tweaks for myself:

1. Only TT H4/D1 extremes
2. Mid level zones on H4/H1 should be traded with confirmations
3. H1/m30 extremes can be TT, but only half positions. The other half should be entered upon confirmations.
4. Zones shall be drawn at sensible area, and WAIT for price to approach. DO NOT keep searching for setups along the way, and trade the "newly formed" zones BEFORE price arrived at the pre-determined zones.
Quote from RED:
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Patience is virtue!

Best trading to all!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #879
  • Sep 9, 2013 9:23am Sep 9, 2013 9:23am
Quoting keroro0o0o
Open trade: AUDUSD short H4 {image} m30 {image}
UPDATE: PA showed bullish momentum. Manual closed for small loss.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #880
  • Sep 9, 2013 10:07am Sep 9, 2013 10:07am
Open trade: EURJPY short

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Knowing is not enough; we must apply. Willing is not enough; we must do.
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