kindly check my stat with varengold accounts, I have gained. 
- #59,142
- Sep 16, 2013 4:21am Sep 16, 2013 4:21am
This is where my PVSRA-trip ends
After a successful first attempt at trading based on PVSRA, I opened a new account with serious funding (at least for me it was "serious").
I started with 10k in June 2013 and managed to stadily increase my equity - while also my floating DD steadily increased. Today, after three months of trading - watching my account every few minutes / hours (even when on holiday abroad), it had a balance of to 17k ... not taken into account the floating DD.
With 10k account balance and trading only 0.1$/pip I thought it would be more than enough to sustain through even the worst scenarios. Nevertheless, I decided to end this today and closed all my open trades ... for a total net loss of >4k $
I take my GBP/JPY short trade as an example:
The first EP was at 149.xx - since then, price increased without a retrace. We are now close to 158, which is 900pips above my first entry point. If I had spaced my entries equally, my average price would have been 153.5 - this is 450pips from the current price!
I do not want to blame PVSRA as a method of analysis. TAH has done a great job in teaching us how this is working and he even manages to handle the DD better than I do. I even believe, that PVSRA can be used to trade successfully - it just isn't the right method for me. During the last few weeks, all my thoughts were just focused on what to to with my floating DD. This even had a bad influence on the relationship with my girlfriend ...
Maybe FED on wednesday will change the trend in most of the pairs, maybe not. Even if the MMs are still bullish on USD, the have unlimited funds to move the price in the direction they prefer ... my funds are limited, my patience is limited and my psyche has to calm down again. So there was just one possible outcome - close everything and start over again.
@TAH: please don't take this personal. It is just me failing at adapting your proven trading strategy. I will continue to stay here and read every single post in this thread, because I learned so much from you and many of the other guys posting in here.
Steve
After a successful first attempt at trading based on PVSRA, I opened a new account with serious funding (at least for me it was "serious").
I started with 10k in June 2013 and managed to stadily increase my equity - while also my floating DD steadily increased. Today, after three months of trading - watching my account every few minutes / hours (even when on holiday abroad), it had a balance of to 17k ... not taken into account the floating DD.
With 10k account balance and trading only 0.1$/pip I thought it would be more than enough to sustain through even the worst scenarios. Nevertheless, I decided to end this today and closed all my open trades ... for a total net loss of >4k $
I take my GBP/JPY short trade as an example:
The first EP was at 149.xx - since then, price increased without a retrace. We are now close to 158, which is 900pips above my first entry point. If I had spaced my entries equally, my average price would have been 153.5 - this is 450pips from the current price!
I do not want to blame PVSRA as a method of analysis. TAH has done a great job in teaching us how this is working and he even manages to handle the DD better than I do. I even believe, that PVSRA can be used to trade successfully - it just isn't the right method for me. During the last few weeks, all my thoughts were just focused on what to to with my floating DD. This even had a bad influence on the relationship with my girlfriend ...
Maybe FED on wednesday will change the trend in most of the pairs, maybe not. Even if the MMs are still bullish on USD, the have unlimited funds to move the price in the direction they prefer ... my funds are limited, my patience is limited and my psyche has to calm down again. So there was just one possible outcome - close everything and start over again.
@TAH: please don't take this personal. It is just me failing at adapting your proven trading strategy. I will continue to stay here and read every single post in this thread, because I learned so much from you and many of the other guys posting in here.
Steve
- #59,143
- Sep 16, 2013 4:41am Sep 16, 2013 4:41am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
This is where my PVSRA-trip ends After a successful first attempt at trading based on PVSRA, I opened a new account with serious funding (at least for me it was "serious"). I started with 10k in June 2013 and managed to stadily increase my equity - while also my floating DD steadily increased. Today, after three months of trading - watching my account every few minutes / hours (even when on holiday abroad), it had a balance of to 17k ... not taken into account the floating DD. With 10k account balance and trading only 0.1$/pip I thought it would...
{quote} faststare08, You are going on IGNORE. I have failed you? You have lost money? Do you know anything about due diligence? Now you are going to make more than you lose? Oh, really? All this from you, that has not posted any of these so called trades of yours! I called you on this before. There is no evidence you have lost or made any money; no evidence you are even a trader! I have no further interest in your posts. They will just be a waste of my time. Goodbye. -tah
- #59,147
- Edited 5:32am Sep 16, 2013 4:56am | Edited 5:32am
@Steve So sad to hear. How many pairs have you traded?
{quote} congrats st3ve. you made a decision to blindly followed PVSRA. haha. I salute you.
{quote} I think it is too the large size. With 10k -> max. 0.05$. It is my opinion.
The reason for position building with the MMs is, that most of the time their run for profit is that fast, that you achieve a better average entry point when you build with them. Taking my GJ trade as an example, the MMs would have to run the price 450pips in the desired direction to get to my BE level. That move won't be so fast, that I can't get into it again ;-)
- #59,150
- Sep 16, 2013 5:03am Sep 16, 2013 5:03am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
- #59,152
- Sep 16, 2013 5:18am Sep 16, 2013 5:18am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
This is where my PVSRA-trip ends After a successful first attempt at trading based on PVSRA, I opened a new account with serious funding (at least for me it was "serious"). I started with 10k in June 2013 and managed to stadily increase my equity - while also my floating DD steadily increased. Today, after three months of trading - watching my account every few minutes / hours (even when on holiday abroad), it had a balance of to 17k ... not taken into account the floating DD. With 10k account balance and trading only 0.1$/pip I thought it would...
Trading like MMs, we need a big balance, nothing else. But traders like us, we don't have that kind of money. That's why we need to change something, because we can't survive this kind of manipulation. Now I'm gonna learn more supply/demand. PVSRA could show us a high activity at highs/lows, but if there is not supply/demand, the trend will not reverse.
Whatever is obvious is obviously wrong!"
- #59,153
- Edited 5:32am Sep 16, 2013 5:19am | Edited 5:32am
{quote} I did not get it. I mean - how many crosspairs have you traded? - I do not mean the total amount of position opened, I mean the pairs: EURUSD, ...
{quote} Sad to hear it too, it's a huge loss.
Absolutely. But I have learned a lot and will come back strengthened.
{quote} resistance and support levels can be seen on every TF...for scalpers, it would be smart to keep track of the Higher TF...whole and half numbers!!..yes, resistance and support levels may sometimes form around these areas.. {image}
- #59,156
- Sep 16, 2013 5:45am Sep 16, 2013 5:45am
{quote}And my first head shot here. I just apply it from this week and still learning about this. {image}
Wise to bank there. The range on most pairs has been tight. My only winner was UJ where the range was 40+. My other trade on GU was rubbish. The Average Daily Range Counter (top left) is useful to remind you when to sit it out and which pairs offer best returns.
No doubt Islander will drop in with his 50 pip haul later....
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
- #59,157
- Sep 16, 2013 5:51am Sep 16, 2013 5:51am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
- #59,158
- Sep 16, 2013 6:00am Sep 16, 2013 6:00am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #59,159
- Sep 16, 2013 6:22am Sep 16, 2013 6:22am
- | Joined Nov 2011 | Status: the probability trader | 1,110 Posts
@ revoli - nice UJ trade earlier - IMO the only decent one available so far....no need for me to post that chart as your's is fine. Its a rare day when so far the Swissy has got the greatest daily range @ 42.1 pips vs cable @ 41.7; UJ @ 40.9 and € @ 33.7..... @ St3ve - sorry to hear of your loss. I hope that you will be able to regroup and come back stronger
This morning I marked possible short trade at UY.
What do you think about it:
Everything is possible!!! Step by Step...
