people leave, but this thread will go on for ever
- #465
- Jan 26, 2016 11:10am Jan 26, 2016 11:10am
- Joined Aug 2015 | Status: (ง'̀-'́)ง | 1,421 Posts
Hi jonny just looking for some positive motivation how much from your avg week do you think you make % wise also is your main strategy still the (4 Hour Strategy (MACD) and does anyone know of a good book for the psychology side of trading am good on a dome but down in real life by 28%
I know it's all in my head with real money coming out of a deal to fast.
I know it's all in my head with real money coming out of a deal to fast.
Weekly Losses are higher for me. I don't know what strategy works on GBP and AUD. I make money sometimes and i have 65% accuracy on my account but losses on single trades are higher than the profits. Can someone help me? 
Hi jonny just looking for some positive motivation how much from your avg week do you think you make % wise also is your main strategy still the (4 Hour Strategy (MACD) and does anyone know of a good book for the psychology side of trading am good on a dome but down in real life by 28%
Weekly Losses are higher for me. I don't know what strategy works on GBP and AUD. I make money sometimes and i have 65% accuracy on my account but losses on single trades are higher than the profits. Can someone help me?
If you are still losing money on a 65% win rate means you have a bad ratio on your TP/SL. You take wins out too early and hold losing trades for too long.
Example: If you take trades at a 100p TP and 100p SL then you need to win 50% of your trades to break even. (Of course there is spread to pay so it has to be a bit above 50%).
Price-Action Extremist
Hi jonny just looking for some positive motivation how much from your avg week do you think you make % wise also is your main strategy still the (4 Hour Strategy (MACD) and does anyone know of a good book for the psychology side of trading am good on a dome but down in real life by 28%
You need to find a good average for your take profits to give you confidence to stay in winning trades longer. For that you must perform the ritual of ghetto-backtest.
Ghetto-backtest
Look at charts that show your favorite signal. Then mark the max amount of profit you could have taken if you had stayed until the end. Same for stop. Then repeat that for a few 100 signals. Use a pen and write the numbers down, then enter into a spreadsheet and calculate your averages. Then you got a number you can attach yourself to when you feel the impulse to exit with a profit too early.
Price-Action Extremist
- #471
- Edited 2:52pm Feb 4, 2016 11:16am | Edited 2:52pm
- | Joined Jan 2016 | Status: Trader | 75 Posts
Quoting payaltaneja
Weekly Losses are higher for me. I don't know what strategy works on GBP and AUD. I make money sometimes and i have 65% accuracy on my account but losses on single trades are higher than the profits. Can someone help me?
Bagman said:
If you are still losing money on a 65% win rate means you have a bad ratio on your TP/SL. You take wins out too early and hold losing trades for too long.
Example: If you take trades at a 100p TP and 100p SL then you need to win 50% of your trades to break even. (Of course there is spread to pay so it has to be a bit above 50%).
test
.....................................................................................................................................
If you have a 65% of accuracy on your account, you should being making money consistenly. What Bagman said about SL and TP is correct, so I am not going to repeat the same. But I can suggest you something that works for me. If you believe your strategy, if you are convinced your trading is profotable, but your mind betrayed you...try this:
Weekly Losses are higher for me. I don't know what strategy works on GBP and AUD. I make money sometimes and i have 65% accuracy on my account but losses on single trades are higher than the profits. Can someone help me?
Bagman said:
If you are still losing money on a 65% win rate means you have a bad ratio on your TP/SL. You take wins out too early and hold losing trades for too long.
Example: If you take trades at a 100p TP and 100p SL then you need to win 50% of your trades to break even. (Of course there is spread to pay so it has to be a bit above 50%).
test
.....................................................................................................................................
If you have a 65% of accuracy on your account, you should being making money consistenly. What Bagman said about SL and TP is correct, so I am not going to repeat the same. But I can suggest you something that works for me. If you believe your strategy, if you are convinced your trading is profotable, but your mind betrayed you...try this:
- Analyze the market until your strategy tell you to enter.
- Then set what your analysis says about SL and TP (be realistic with both, but place your TP 20% sooner than your analysis, that way youll be more confident).
- Then turno your computer off...and DO NOT watch it any more until several hours (forget about it).
- If you dont feel comfortable doing it on real, make it on demo for a while and see if results are good or not, then analyze results and do what you have to do.
Good luck and good trading.
- #472
- Feb 6, 2016 12:42pm Feb 6, 2016 12:42pm
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-753
- #477
- Apr 3, 2016 9:13pm Apr 3, 2016 9:13pm
- Joined Jan 2011 | Status: dump and pump | 4,055 Posts
All posts are my personal opinion
