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Professional Trading Strategy - student selection

  • #221
  • Feb 7, 2014 6:41am Feb 7, 2014 6:41am
Quoting exchange101
Good posting and thank you "realfun07". You don't have to prove anything, what you have posted is enough for me. So you took a little profit for the day? That's good. You have missed the big move (80-100 pips)!
No I didnt miss the big move above for 100 pips but since I was away from my system I didnt hedge above 3600 levels but managed at 1.3585 levels. I had to go somewhere and i was expecting move more above so didnt place TP on buy order. So I did make those 80 $ profit. Also due to tp set on my sell order just because of 0.8 pips it didnt hit and there was another buy after that which could have added another 150 $ . Although I am in talk with my broker as on other broker platforms the price ( TP ) I had set on sell order did get executed ( on may be 3 other brokers Mt4 platform ) So I smell something fishy and have talked to support and technical and they told they will get it checked by experts as their ECN trader is different. Although highs and close match but the low of my broker is different 3 pips which is huge.

Hope you are not confused. I mean to say I traded right and more profit should come if this thing gets sorted out.As far as my price or my trade is concerned I was absolutely right which I am happy about .
  • #222
  • Feb 7, 2014 6:46am Feb 7, 2014 6:46am
I use indicators as well, unfortunately, I was not watching EURUSD at the time.
  • #223
  • Feb 7, 2014 6:49am Feb 7, 2014 6:49am
Quoting exchange101
The next image will be as a poll, sort of say. Please answer the questions even if you use indicators. Like I said in the beginning, it doesn't matter your knowledge level, just give your best shot. {image} Q1: Did you caught the big move? Y/N (mention if you use indicators, if your answer is NO) Q2: Where was your entry? (please mark on the image - also your entry logic)

Hello Exchange,

No, I would not have catched the big move up, I would have waited for price to retrace to a logical S&R level, around 1.35395, and look for a PA signal to enter.
  • #224
  • Feb 7, 2014 6:53am Feb 7, 2014 6:53am
Quoting exchange101
The next image will be as a poll, sort of say. Please answer the questions even if you use indicators. Like I said in the beginning, it doesn't matter your knowledge level, just give your best shot. {image} Q1: Did you caught the big move? Y/N (mention if you use indicators, if your answer is NO) Q2: Where was your entry? (please mark on the image - also your entry logic)
Normally i don't trade 1m Period. But i try to analyze with my own indicator and my own system. I apply it candle bye candle for have the same result like in live trade.
Here the picture.
Attached Image (click to enlarge)
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  • #225
  • Feb 7, 2014 7:13am Feb 7, 2014 7:13am
Quoting realfun07
{quote} No I didnt miss the big move above for 100 pips but since I was away from my system I didnt hedge above 3600 levels but managed at 1.3585 levels. I had to go somewhere and i was expecting move more above so didnt place TP on buy order. So I did make those 80 $ profit. Also due to tp set on my sell order just because of 0.8 pips it didnt hit and there was another buy after that which could have added another 150 $ . Although I am in talk with my broker as on other broker platforms the price ( TP ) I had set on sell order did get executed...
Sorry, I misunderstood.
  • #226
  • Feb 7, 2014 7:50am Feb 7, 2014 7:50am
I'll admit, I'm an indicator junkie. I've lost so much in real accounts, that if I do not find something that works consistently for me, I'm doomed to trade dummy accounts for the rest of my life.
  • #227
  • Feb 7, 2014 8:10am Feb 7, 2014 8:10am
Quoting exchange101
The next image will be as a poll, sort of say. Please answer the questions even if you use indicators. Like I said in the beginning, it doesn't matter your knowledge level, just give your best shot. {image} Q1: Did you caught the big move? Y/N (mention if you use indicators, if your answer is NO) Q2: Where was your entry? (please mark on the image - also your entry logic)
I was in on the move from 1.3506 and 1.3500. I scaled in two buys as price started south just prior to the news release. I have found that often price will move oppositeof what the initial push will be a couple minutes before the release of news. I did get out way to early and reversed to soon. Only to give what I made back.
I have a bad habit of "thinking" the market is gonna do something that it has not shown me. That was one of the times "I knew" but did not manage the trade
properly at all. One of my biggest issues.
  • #228
  • Feb 7, 2014 8:55am Feb 7, 2014 8:55am
Honestly probably without scroll to the left first, I won't get anything or open position.
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  • #229
  • Feb 7, 2014 9:46am Feb 7, 2014 9:46am
Hi exchange,

Q1: Did you caught the big move? Y/N - N0 - I was at work at the time
Q2: Where was your entry?

I can see there is a impulsive move on higher time frame - breaking of consolidation area in 4hrs - marking new high
I would prefer entering on re-tracement to previous high of 4 hrs chart and participate in the next move.

Attached my chart - pink line is where i would have entered
Attached Image (click to enlarge)
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  • #230
  • Feb 7, 2014 11:30am Feb 7, 2014 11:30am
new trade - USDCAD H4
Implusive move - break of consolidation area - marking new low
placed a sell limit on previous low as entry
Attached Image (click to enlarge)
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  • #231
  • Feb 7, 2014 9:55pm Feb 7, 2014 9:55pm
Hi exchange,

Q1: Did you caught the big move? Y/N - N0 - I wasn't trading that day. I do no use indicators other that custom fibs for entry and exit
Q2: Where was your entry? Below is my analysis if I had taken the trade

Attached Image (click to enlarge)
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  • #232
  • Feb 7, 2014 10:20pm Feb 7, 2014 10:20pm
Hi exchange,

I never placed trade based of 1 min chart. anyway here is my analysis on the 1 min chart.
Attached Image (click to enlarge)
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  • #233
  • Feb 8, 2014 2:00am Feb 8, 2014 2:00am
Quoting rcbarlow
I'll admit, I'm an indicator junkie. I've lost so much in real accounts, that if I do not find something that works consistently for me, I'm doomed to trade dummy accounts for the rest of my life.
Welcome to the trading world. Stop using indicators that you download for free or buy online!
You might have found in this thread, something that will help you.
  • #234
  • Edited 10:14am Feb 8, 2014 9:57am | Edited 10:14am
Let me show you something that at least 95% of traders say it can't be done or it doesn't exist! (EDIT: You won't achieve this with any indicator out there on the market, no matter how expensive it is) This is just a random small example.

The markets are NOT random. Price is the same. There are NO time frames!

Attached Image (click to enlarge)
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If you would know that a new trend / intermediary trend is starting right at that candle/price, would you exit with maximum profit your previous trend?
  • #235
  • Feb 8, 2014 10:03am Feb 8, 2014 10:03am
Quoting exchange101
Let me show you something that at least 95% of traders say it can't be done or it doesn't exist! This is just a random small example. The markets are NOT random. Price is the same. There are NO time frames! {image} If you would know that a new trend / intermediary trend is starting right at that candle/price, would you exit with maximum profit your previous trend?
I agree about time frames and the markets not being random.

I have studied my butt off and have the occasional Ah-Ha moment. Usually trade very well after that for a short while, then I seem to
somehow forget what that moment was and give back what I make.

Looking forward to your insight. Sometimes, all it takes is to hear something put in a different way for it to click.

Hope your health is improving.
  • #236
  • Feb 8, 2014 10:09am Feb 8, 2014 10:09am
This is a "map" of the forex market! What if you knew where you are in the market, price and time wise, at one moment and where you are heading!?

Attached Image (click to enlarge)
Click to Enlarge Name: forex2.jpg Size: 688 KB
  • #237
  • Feb 8, 2014 10:10am Feb 8, 2014 10:10am
Quoting tubguy
{quote} I agree about time frames and the markets not being random. I have studied my butt off and have the occasional Ah-Ha moment. Usually trade very well after that for a short while, then I seem to somehow forget what that moment was and give back what I make. Looking forward to your insight. Sometimes, all it takes is to hear something put in a different way for it to click. Hope your health is improving.

Excellent. The Ah-Ha moment!!

If you understand what I'm saying about time frames, you already made a step forward!
  • #238
  • Feb 8, 2014 10:12am Feb 8, 2014 10:12am

everyone....please answer the question in the last image!

  • #239
  • Feb 8, 2014 10:23am Feb 8, 2014 10:23am
Quoting exchange101
This is a "map" of the forex market! What if you knew where you are in the market, price and time wise, at one moment and where you are heading!? {image}
Personally, I would take the 20 pips. 1-2 trades like that per day would be all I need. Not a greedy person. Although more would be just fine.

I have long thought that the market could be "read" but have yet to decipher it completely.
  • #240
  • Feb 8, 2014 10:53am Feb 8, 2014 10:53am
Definitely take the trade. Short term prediction is easier, as there is less time to be wrong, and less time for new PA.
In long term trading every new price is the new equilibrium and every new candle can change your view on the market and the prediction so you end up changing your mind ten times.

In short term, you get an eye on some price level, put pending and get few pips on the retracement. Retracement is for me more predictable then whole trend.

Anyway number of pips means nothnig. If the strategy is efficient you just raise the volume and adjust. Thats the point, know when to scale in and scale out.
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