the cautious seldom err....C
Another simple system - Time-Frame 15
- #26,942
- Feb 24, 2016 9:48am Feb 24, 2016 9:48am
- Joined Aug 2012 | Status: Trader | 18,665 Posts
the cautious seldom err....C
- #26,943
- Feb 24, 2016 9:57am Feb 24, 2016 9:57am
- Joined Aug 2012 | Status: Trader | 18,665 Posts
pressed my luck too far ...was up 37 and was closed to being stopped out at target if not for the wide spread....anyway came off with meagre pips Edit: another case of moving stop to b/e before the trade is cooked...target hit now, stew's ready....
the cautious seldom err....C
- #26,945
- Feb 24, 2016 10:11am Feb 24, 2016 10:11am
- Joined Aug 2012 | Status: Trader | 18,665 Posts
the cautious seldom err....C
- #26,947
- Feb 25, 2016 4:02am Feb 25, 2016 4:02am
- Joined Aug 2012 | Status: Trader | 18,665 Posts
the cautious seldom err....C
- #26,948
- Feb 25, 2016 4:04am Feb 25, 2016 4:04am
- Joined Aug 2012 | Status: Trader | 18,665 Posts
the cautious seldom err....C
- #26,949
- Feb 25, 2016 4:09am Feb 25, 2016 4:09am
- Joined Aug 2012 | Status: Trader | 18,665 Posts
the cautious seldom err....C
- #26,950
- Feb 25, 2016 8:35am Feb 25, 2016 8:35am
- Joined Aug 2012 | Status: Trader | 18,665 Posts
not a good day so far...took losses on a/y,e/u and e/g (minimal as I took it off manually a few hours ago -6pips) However, I managed a winner in g/cad short which helps to minimise the damage...still about 2 hours to go to recover my losses
the cautious seldom err....C
- #26,951
- Feb 25, 2016 8:44am Feb 25, 2016 8:44am
- Joined Aug 2012 | Status: Trader | 18,665 Posts
the cautious seldom err....C
- #26,952
- Edited 3:06pm Feb 25, 2016 9:22am | Edited 3:06pm
not a good day so far...took losses on a/y,e/u and e/g (minimal as I took it off manually a few hours ago -6pips) However, I managed a winner in g/cad short which helps to minimise the damage...still about 2 hours to go to recover my losses
. It is the results at end of the month, quarter and the year that count. There is no shame in having a losing day, the yellow box is my losing day
Trading can't be taught but it can be learned
- #26,953
- Feb 25, 2016 9:58am Feb 25, 2016 9:58am
- Joined Aug 2012 | Status: Trader | 18,665 Posts
{quote} I am sure that you will recover even if not today but tomorrow or by next week
the cautious seldom err....C
- #26,954
- Feb 25, 2016 11:04am Feb 25, 2016 11:04am
- | Joined Apr 2008 | Status: Trader | 1,312 Posts
{quote} I am sure that you will recover even if not today but tomorrow or by next week
either way, well done again, amazing results!
- #26,955
- Edited 1:40pm Feb 25, 2016 1:26pm | Edited 1:40pm
- Joined Jun 2015 | Status: Retired | 961 Posts
{quote} Pipsninja, that is an excellent result! I have been rereading your posts but just dont how you do it! Following the instructions from first few pages, I win as many times as I lose with 1:1 risk reward. Most of the times, if waiting for tdi confirmation, I would get in late in the trade, so not great. You seem to be getting a lot of time in your trades before the crossover happens but i am not able to replicate that
Forgot to mention; the TDI for me is actually more important to know when to close your trade...sometimes were not sure so just close for profit or small loss when you get opposite signal.
- #26,956
- Edited 3:23pm Feb 25, 2016 2:54pm | Edited 3:23pm
{quote} Pipsninja, that is an excellent result! I have been rereading your posts but just dont how you do it! Following the instructions from first few pages, I win as many times as I lose with 1:1 risk reward. Most of the times, if waiting for tdi confirmation, I would get in late in the trade, so not great. You seem to be getting a lot of time in your trades before the crossover happens but i am not able to replicate that
1.) How long have you been trading this method?
2.) Are you trading this method live or demo?
3.) If trading it live what has been your demo results/stats?
4.) How many trades live/demo have you taken trading this method?
5.) Are you taking the basic setup only or you take advanced setups as well?
6.) Are you only trading after London open or before?
7.) What is your Win, Loss, BE results/stats so far trading this method?
Trading can't be taught but it can be learned
- #26,957
- Feb 25, 2016 4:29pm Feb 25, 2016 4:29pm
- | Joined Apr 2008 | Status: Trader | 1,312 Posts
{quote} Tony, TDI for me is only a confirmation device. What I do is..I have it fully sized down in my template and only pull it up once Im ready to enter a trade...If i get the opposite on the TDI then it works like a emergency brake on a car and I wont take the trade. When I learnt arjuns method I learnt everything without the TDI...so its much easier to use it after uve learnt to trade without it
- #26,959
- Edited 4:56am Feb 26, 2016 1:54am | Edited 4:56am
{quote} hi Pipsninja 1) I have been leaving the thread and coming back over and over again. Always feel like I am missing something, but clearly its all there as its working for you 2 and 3 )currently on the sideline to be honest, mostly focusing on backtesting and simulator whenever I get the chance as I am not able to recognise a patterns that I felt were giving me an edge and from which I could benefit repeatedly. At best, I would manage slightly better than 50% win with 1:1 risk/reward but once spread and slippage is taken into account, its...
. You are right that choros/dance system is very similar to this method and it came before this method. Backtesting/simulator is OK but demo or even better yet real live 0.01 lot trading is best to measure the effectiveness of a trading system.I am talking in general terms here and I am not insinuating that this is what you are doing but we sometimes come up with conclusions on a trading system based on our beliefs and not absolute facts. I have been guilty of that in my own trading in the past. We need to separate beliefs form facts.
We may experience a few bad days or a week in trading and since we as humans/traders are pattern seeking creatures we conclude that the trading system isn't a good one but if we look at the whole month then we may realize that there were 2 profitable weeks followed by one BE week then followed by a losing week and overall we made +pips for the month. There are traders who claim to have a completely mechanical trading system but they even go through periods/weeks/months of losses but at the end of the year their system is profitable.
We need to measure the overall performance of a trading system. I wish you could give me exact numbers like 40 Wins, 42 losses and 18 BEs over 100 trades. Being a consistent BE trader trading this method is actually a good sign and with some fine tuning and discipline you may be able to cross over to the profitable side. I just want to make sure that your conclusion is a fact/stats based conclusion. That is why I insist on having a trading journal.
As this thread progressed, LE1 tried to turn us into price action traders and TDI took a backseat in our trading decisions. Price action gives us a signal sooner than TDI but at first LE1 had to start with tools such as TDI to help us see price action. As traders we have got to recognize the different market cycles and trade them accordingly. I humbly believe that most trading methods are only part of the puzzle and discretion, intuition (developing a feel for the market) plus active trade management skills are essential to make consistent pips. The mentioned skills are only developed by trading live charts. Below are a few of my observations trading M15 this year.
.) The market volatility has increased so we need to adjust the way we trade this type of market to generate +pips.
.) The market swings and pullbacks are getting larger in pips.
.) Some decent moves prior to London Open so we may want to try to capitalize on these moves.
.) We are getting a shakeout often right at London Open so we need to devise a plan to either avoid, exploit or survive it.
.) Swing highs and lows where we are placing out SL seem to get visited often and then price reverses.
I like to compare trading to navigating a large ship at sea. There are times that the sea is calm so we just stay on course with minimal effort but there are times that we face rough seas or even worst a sea storm and that is when we constantly have got to make course corrections in order to reach our destination.
Happy Pipping
Trading can't be taught but it can be learned
- #26,960
- Feb 26, 2016 6:24am Feb 26, 2016 6:24am
- Joined Aug 2012 | Status: Trader | 18,665 Posts
the cautious seldom err....C