DislikedMaybe it's because aiming for a shitload % a day 4 to 10 percent is to much. I'm not nervous of losing my $100,- investment but i'm nervous about losing my dream.... Who can recognise his/her self in this?Ignored
1 year profitable trading goal
- #342
- Edited 9:04am Aug 8, 2016 8:28am | Edited 9:04am
- Joined Sep 2013 | Status: Trader | 1,209 Posts
Maybe it's because aiming for a shitload % a day 4 to 10 percent is to much. I'm not nervous of losing my $100,- investment but i'm nervous about losing my dream.... Who can recognise his/her self in this?
- #346
- Edited 9:35am Aug 8, 2016 9:24am | Edited 9:35am
- Joined Feb 2009 | Status: Down to Earth! | 2,358 Posts
fooled by randomness in art
Meditation All Time Return:
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- #347
- Aug 8, 2016 9:27am Aug 8, 2016 9:27am
- Joined Sep 2007 | Status: Trader | 6,871 Posts
check out my blog: forexmademillionaire dot com
- #348
- Aug 8, 2016 9:28am Aug 8, 2016 9:28am
- Joined Sep 2007 | Status: Trader | 6,871 Posts
{quote} The red is actually completely fine. Look at your avg. winning trade vs. avg. losing trade percent. It's 5.2% to -2.0% respectively. That means your wins are 2.6x greater than your losses. That's fantastic. A lot of people think there's something wrong with losing more often than you win, but that's a huge fallacy. It would be a problem is your average wins were equal in size to your average losses. But you're doing everything right here. You're allowing your winners to run and cutting your losers early. So you don't have to win more than...
So yes, if you took those out your avg. win to avg. lose is probably much less favorable.
check out my blog: forexmademillionaire dot com
{quote} Hmmm... I just looked at your TE though. Your performance is likely greatly skewed by these two trades: {image} So yes, if you took those out your avg. win to avg. lose is probably much less favorable.
That was the NFP trade. I love trading NFP since it isn't that difficult but let's call that one lucky.
What I lack of is a very good example of today with EURNZD. I do nothing more than getting the 8 and 12 hour charts, clean from everything and start to draw the trend lines when a channel forms. I move one inner and one on the highest point For me this actually works perfectly on the 8 hour especially. But there you have it, if it passes by and closes above then I get insecure because then I have the idea it will go to the outer one to test, just to see it retrace fully. Bleehhhh.
Example.
- #354
- Aug 8, 2016 12:19pm Aug 8, 2016 12:19pm
- Joined Mar 2011 | Status: Bullish Behavior | 3,182 Posts
{quote} Yes, the channel approach... I got burned on NU today, the first time I entered. It fell through the channel and my "level", and dropped down to the next supply/demand level, which would have actually been a better entry point. If I had to do it over again, I'd probably still have entered where I did, but widened my SL below the next supply/demand level down, One thing to keep in mind, since all of the "pending" buy/sell orders will be at the supply/demand level, and typically not the channel trend line, it's good to look for confluence...
- #357
- Edited 9:52pm Aug 8, 2016 8:15pm | Edited 9:52pm
- Joined Feb 2009 | Status: Down to Earth! | 2,358 Posts
My two cents
Lesson #1
Widened My SL on this trade, I managed them manually, loosen and tighten, but then I felt a sleep. My broker has closed My trade for 55.7 pips, but My real stoploss 52 pips. Slippage? Should I complain to this? Nope. Life goes on. Stop hunting is real. The broker teach Me where I should put My SL instead.
Lesson #2
The option. Take your stop loss as a plan A and respect them? Or U can change as U like according to latest situation as a plan B, or C, or D, or E. Why if prices never comeback?
My first (initial) SL is 26 pips. In my case prices was comeback near to the Open prices level, and really funny moment, prices turn back south at that SL level.
Note Edit:
- More case like My case about stop loss today in AUDUSD is here: http://www.forexfactory.com/showthread.php?t=601952
Lesson #1
Widened My SL on this trade, I managed them manually, loosen and tighten, but then I felt a sleep. My broker has closed My trade for 55.7 pips, but My real stoploss 52 pips. Slippage? Should I complain to this? Nope. Life goes on. Stop hunting is real. The broker teach Me where I should put My SL instead.
Lesson #2
The option. Take your stop loss as a plan A and respect them? Or U can change as U like according to latest situation as a plan B, or C, or D, or E. Why if prices never comeback?
My first (initial) SL is 26 pips. In my case prices was comeback near to the Open prices level, and really funny moment, prices turn back south at that SL level. Note Edit:
- More case like My case about stop loss today in AUDUSD is here: http://www.forexfactory.com/showthread.php?t=601952
fooled by randomness in art
Meditation All Time Return:
8.9%
- #358
- Aug 8, 2016 11:20pm Aug 8, 2016 11:20pm
- Joined Mar 2011 | Status: Bullish Behavior | 3,182 Posts
My two cents Lesson #1 Widened My SL on this trade, I managed them manually, loosen and tighten, but then I felt a sleep. My broker has closed My trade for 55.7 pips, but My real stoploss 52 pips. Slippage? Should I complain to this? Nope. Life goes on. Stop hunting is real. The broker teach Me where I should put My SL instead.
- #359
- Edited Aug 9, 2016 1:03am Aug 8, 2016 11:49pm | Edited Aug 9, 2016 1:03am
- Joined Feb 2009 | Status: Down to Earth! | 2,358 Posts
{quote} Why not enter short where you had your stop, instead of entering at a lower price?
And this is reply from My Broker. Yea I know RollOver Period bla,bla, bla. This is not the first time. They gave Me (again!) raw spreads excell. So I have to be very carefull with My SL in that rollover period. Boring explanation! Nevermind. I can take more profits in the future from this broker.
XXX Support (XXX)
Aug 9, 16:18 AEST
Hello Teuku,
Thank you for your email.
As you placed a sell trade your stop loss trigger and profit are taken at the ask price. I have attached an excel spread sheet which shows that the ask price went from 0.76528 straight to 0.76651 which was where your stop loss was triggered.
The reason that your stop loss was triggered at this level was due to the wider spreads in the forex market at the beginning of the trading day. Generally, during rollover period, the spreads tend to widen quite drastically for the first 10 to 15 minutes when the market opens. Rollover occurs from 23:59 to 00:01 server time each day - what happens at this time is that all the large investment banks around the world reset their systems and reboot in preparation for the new trading day. During this time there are low/no quotes being issued as the majority of the banks are essentially closed during this short period of time - this results in spreads blowing out and very large spikes/volatility (due to the low liquidity) in the markets and gaps in the prices can appear
Please understand that a stop loss can only ever be a trigger level rather than a guaranteed exit point. When the price moves past your trigger level it will send a request to close your order at the next available market price to get you out of your trade.
If you require any further assistance feel free to email us.
Kind regards,
Marcus
XXX Support
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Meditation All Time Return:
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- #360
- Edited 7:35am Aug 9, 2016 2:01am | Edited 7:35am
- Joined Feb 2009 | Status: Down to Earth! | 2,358 Posts
Well, well, well, bad UK data but GU fly to the North, same as EU, and AU... Ah! Stop, stop, stop Hunting! Good Game Well Played 
Edit
-Very tough DD today My friend, suffer until now maximum 18,85%, 8 days profit would gone.
Will cut loss at level -$290. Back to the rate at start.
Edit
-Very tough DD today My friend, suffer until now maximum 18,85%, 8 days profit would gone.
Will cut loss at level -$290. Back to the rate at start.
fooled by randomness in art
Meditation All Time Return:
8.9%