SS S/R - super stupid S/R trading experiment

What do you mean?

I don't have a system yet, since I just started experimenting with this method. I'll try to write my SL etc on my charts this week and why I placed them there, but I don't know much about writing on charts. Not sure how that will work out.

SL is easier for me than TP. FTA is, of course, the most safe and since the touch trades I have taken so far have a good R:R even at FTA, that may be a good way to go.

Here is an example from the GU trade. The green arrows indicate the smaller candles that approached the resistance line. I put by SL behind these smaller candles.

Also, I believe the fail better thread suggests not moving the SL. As I remember, the J-16 member that taught touch trades suggested to place a small SL behind the short candle(s), and to bring the trade to BE soon after it bounces.

I created demo account to master touch trades. You can see my results at http://www.myfxbook.com/members/SINGY14/adam/911305

EUR-USD is giving maturing input signal, wait to confirm a false start

Did you enter?

Fiber long

Hi traders,

I would like to know if you have any rules for trading these S/R ? I am trying to get better my entries.
for example....Do you use any indicator? Do you follow the trend - uptrend, downtrend ? What type of graph do you prefer and why? Bar chart, candle chart?


Thank you.
Have a nice day and good luck .

EJ

Hi hewi,

I will reply your question today within 12 hours. Good luck hewi.

I prefer not to use any indicator. I neither follow the trend. I just trade S/R levels from line chart mostly. Feel free to share your trades with us.
Adam

Week summary:

I don't publish every my trade as you can see them in myfxbook and trade explorer as well. I am slightly up this weekend (+0.26%) and open profit is about 18$. Many of my trades reversed just few pip from my TP. It helped to improve profit taking location. I still improve entry location. I'm happy with the results so far. It is really simple to follow my rules because I believe this system is profitable as I backtested it. I need to be patient and stick to my rules constantly to see some good results at the end of the month.

I hope balance curve will be raising in long-term period and I will be able to fund real account. Feel free to share your ideas and trades to discuss them.
I wish you the best of luck and have a nice weekend.

Adam

EU short



UC short



UJ long

Reason no. 1 why traders lose their money constantly>

I was wondering why there are so many struggelling traders. I thought mostly in my progress and what was that boom moment. At the beginning (first few years) I wanted to open as many trades as possible to learn how to trade. I thought I'm learning because I trade. Then I joined group of traders and see some guys were able to make money constantly. What did they do differently? They sticked to they rules all the time. If they didn't see any opportunity in the market they were able not to trade for weeks (or even months) and wait for their pattern. I was told to trade less frequently. WTF? Why should I trade less if I want to improve? It didn't make sense to me. For the first time in my trading carrer I learnt that no position is position as well.
I learnt to wait for my pattern. And it usually took about week-two. When I think about it I see that the most important about it was not being emotionally attached to my trading. If you check markets and don't see anything interesting and then close yoru platform gives you some kind of freedom. It wasn't about being right anymore. It was about following my rules and being totally confident about them.

Backtesting helped me a lot to be confident. Because everybody is able to stick to rules if money is made. Troubles come when DD period comes. We think that ouur system doesn't work. I know many traders are against backtesting because it is different than in reality. I think they don't realize what is backtesting about. It is not about making perfect system that makes money all the time. It is about gaining confidence and some realistic expectation. I saw my drawdown can last for a long time but it doesn't make my system wrong. Sometime it just doesn't work as I would wish.

The difference is that I can expect that kind of behaviour now and it doesn't influence my trading negatively. Just to make it short. Backtest to gain confidence and realistic expectation about your system. You won't make a fortune quickly. I'm sorry to be honest with you guys. But it will be very long path.

Question for you is: Do you like trading so much that you are willing to experience ups and downs. Mostly downs at the beginning?

Adam, what software do you use for backtesting?

Hi Adriano,

I use ForexTester2. If you are interested to buy it just PM me and I'll send you discount link.

I lost 1.6% today and then realized I trade still on demo account. I wasn't fan of demo trading but I discovered there is no difference between loosing 100$ on demo account and real account. It has the same impact on me, but I can test new system without any financial loss. That's amazing discover. Maybe it is not appropiate for everybody but for some of you it could work indifferently.

Wish you the best of luck guys

Looking for cable level touch to short this pair again.



Position before was too early and I decided to re-enter it.

UJ short