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My Line in the Sand

  • #541
  • Apr 5, 2017 4:03pm Apr 5, 2017 4:03pm
Quoting stevepatt
GBP/JPY M1 Observations Waiting for a PullBack to Structure Probably too late in the day but it shows what I look for {image} {image}
GBP/JPY Update

Market Structure at Key Market Numbers provide opportunities to Trade.

We just need to be aware of what to look for.
Attached Image (click to enlarge)
Click to Enlarge Name: 5th April 17 GBP:JPY M5 Observations.png Size: 146 KB
  • #542
  • Apr 6, 2017 1:02am Apr 6, 2017 1:02am
GBP/JPY M5 Observations
Attached Image (click to enlarge)
Click to Enlarge Name: 6th April 17 GBP:JPY M5 Observations.png Size: 157 KB
  • #543
  • Apr 6, 2017 10:30am Apr 6, 2017 10:30am
Quoting stevepatt
GBP/JPY M5 Observations {image}
GBP/JPY H1.M1 Long Trade
Attached Image (click to enlarge)
Click to Enlarge Name: 6th April 17 GBP:JPY H1:M1 Long Trade.png Size: 110 KB
  • #544
  • Apr 6, 2017 3:31pm Apr 6, 2017 3:31pm
Quoting stevepatt
{quote} GBP/JPY H1.M1 Long Trade {image}
Your results are still not good enough to be a viable trading method.

You could try applying as I suggested...ie use ur stop level as your actual entry level instead, it is bound to help your success rate on your existing analysis technique, but I doubt you will.

Either way, you need to re-think what you're doing imo to achieve satisfactory and consistent results going forward.

Sometimes as traders, we need to accept we have got our thinking wrong and make adjustments to improve. To me it seems you should be considering how you feel you can do that, and that may well involve an overhaul of your strategy.

Stubbornness by sticking to an unsuccessful strategy doesn't pay, and I'm sure you must have come to that same conclusion yourself by now.
  • #545
  • Apr 6, 2017 3:37pm Apr 6, 2017 3:37pm
Quoting Landline
{quote} Your results are still not good enough to be a viable trading method.
What's his hit rate percentage ?
  • #546
  • Apr 6, 2017 3:43pm Apr 6, 2017 3:43pm
Quoting price777999
{quote} What's his hit rate percentage ?
I reckon no better than 50% at best...SP says 60%. He could improve it immediately as I've advised.

The curious thing is that practically all of his entries are the polar opposite of my view, not that I trade m5.
  • #547
  • Apr 6, 2017 4:12pm Apr 6, 2017 4:12pm
Quoting Landline
{quote} I reckon no better than 50% at best...SP says 60%. He could improve it immediately as I've advised. The curious thing is that practically all of his entries are the polar opposite of my view, not that I trade m5.
then try helping.....words sometimes means nothing.
why dont you post charta to explain what you mean...after all your sounding like a teacher so be one and teach.

steve uses a methodology that i understand and is proven to follow what the smart money does.
im with steve all the way unless shown and proven differently
  • #548
  • Apr 6, 2017 4:19pm Apr 6, 2017 4:19pm
Quoting Landline
{quote} I reckon no better than 50% at best..
So a 50% hit rate with 2:1 targets should mean profit?

What hit rate are you achieving if you don't mind me asking? , I struggle to stay above 40% myself, I aim for 3:1 targets.
  • #549
  • Apr 6, 2017 4:21pm Apr 6, 2017 4:21pm
Quoting devontrader
{quote} then try helping.....words sometimes means nothing. why dont you post charta to explain what you mean...after all your sounding like a teacher so be one and teach. steve uses a methodology that i understand and is proven to follow what the smart money does. im with steve all the way unless shown and proven differently
I am not here to teach...but I offer constructive advice on occasions. You on the other hand whinge and moan all the time, expecting someone to spoon feed you.

Just stick to your jig saw puzzles and puzzle away lol
  • #550
  • Apr 6, 2017 4:32pm Apr 6, 2017 4:32pm
Quoting Landline
{quote} I am not here to teach...but I offer constructive advice on occasions. You on the other hand whinge and moan all the time, expecting someone to spoon feed you. Just stick to your jig saw puzzles and puzzle away lol
he who tells.someone what he should or should not do.

if you were worth yout wait in gold.you would.prove yourself.
anyone can shuffle.shite from there mouth like you do but till.you prove yourself your nothing.
you have balls to tell people what they should do....you are so.out of order.
how dare you tell.steve what he should do.....if.you know.better you go.off.and play with your toys.....make sure they have batteries in them.little.girl and turn the light.out on the way out your no.longer wanted here.
bye
  • #551
  • Apr 6, 2017 4:35pm Apr 6, 2017 4:35pm
Quoting devontrader
{quote} he who tells.someone what he should or should not do. if you were worth yout wait in gold.you would.prove yourself. anyone can shuffle.shite from there mouth like you do but till.you prove yourself your nothing. you have balls to tell people what they should do....you are so.out of order. how dare you tell.steve what he should do.....if.you know.better you go.off.and play with your toys.....make sure they have batteries in them.little.girl and turn the light.out on the way out your no.longer wanted here. bye
You must've used all your single cell capacity with that post hahaha
  • #552
  • Apr 6, 2017 4:49pm Apr 6, 2017 4:49pm
Quoting Landline
{quote} Your results are still not good enough to be a viable trading method. You could try applying as I suggested...ie use ur stop level as your actual entry level instead, it is bound to help your success rate on your existing analysis technique, but I doubt you will. Either way, you need to re-think what you're doing imo to achieve satisfactory and consistent results going forward. Sometimes as traders, we need to accept we have got our thinking wrong and make adjustments to improve. To me it seems you should be considering how you feel you...

Hi Landline,

The biggest problem I have with my Trading is not being around when it counts.

In this Post #542 this morning I summarised what I was looking for before taking a Trade.

The chart below shows what happened today.

I missed the earlier Trade opportunities because I was working, the one I took was late in the day and I exited at the Swing High.
Attached Image (click to enlarge)
Click to Enlarge Name: 6th April 17 GBP:JPY M5 Observations.png Size: 141 KB
  • #553
  • Apr 6, 2017 5:07pm Apr 6, 2017 5:07pm
Quoting stevepatt
{quote} Hi Landline, The biggest problem I have with my Trading is not being around when it counts. In this Post #542 this morning I summarised what I was looking for before taking a Trade. The chart below shows what happened today. I missed the earlier Trade opportunities because I was working, the one I took was late in the day and I exited at the Swing High. {image}
I understand that availability to trade at prime times isn.t convenient to you.

However, there are ways round that such as trading a higher t/f for example. In any case though, my post was designed to give you food for thought, irrespective of your time available, because trading principles, where price is the dominant factor as in your case, will apply across all t/fs.

It is clear to me (even if it isn't to you), that you do need to figure out how you can improve your statistics. You have fortunately always posted real live chart entries, and that makes assessment of your entries and results so much easier to track, and hence allows me to offer my observations as a result at least. Most don't post live, prob out of fear I expect, but, in your case you do, which can then act as a means of constructive critique for improvements sake...nothing else.
  • #554
  • Apr 7, 2017 9:40am Apr 7, 2017 9:40am
Quoting Landline
{quote} I understand that availability to trade at prime times isn.t convenient to you. However, there are ways round that such as trading a higher t/f for example. In any case though, my post was designed to give you food for thought, irrespective of your time available, because trading principles, where price is the dominant factor as in your case, will apply across all t/fs. It is clear to me (even if it isn't to you), that you do need to figure out how you can improve your statistics. You have fortunately always posted real live chart entries,...
What is you're advice on how he can improve ?
You suggested he uses limit order entry's .....what other suggestions do you have ?
  • #555
  • Apr 8, 2017 5:52am Apr 8, 2017 5:52am
Quoting price777999
{quote} What is you're advice on how he can improve ? You suggested he uses limit order entry's .....what other suggestions do you have ?
Based purely on SP's unique existing entry analysis criteria and his m5 preferred t/f, then the first step as I've previously suggested ie implement and test, examine results over a series of trades, and fine tune accordingly.

If no significant improvement is evident after a period of time, then of course a more radical change/overhaul to the strategy will be necessary, and may involve a new approach altogether. For now though, I suggest one step at a time before making any major changes to his method other than what I've said before.

Ultimately, it is only results that matter, how a person achieves that, simple or complicated is actually neither here nor there, SP has his format for now which he is comfortable with, so therefore it is only a question of getting his stats raised to at least around 70% imo .
  • #556
  • Apr 9, 2017 5:33am Apr 9, 2017 5:33am
Quoting Landline
{quote} so therefore it is only a question of getting his stats raised to at least around 70% imo .
A hit rate of 70% and above sound quite high to me ...is this something you are able to achieve yourself ?

What do you think the optimum risk reward ratio should be ? should he stick to 2:1 ?

Cheers
  • #557
  • Apr 9, 2017 7:28am Apr 9, 2017 7:28am
Quoting price777999
{quote} A hit rate of 70% and above sound quite high to me ...is this something you are able to achieve yourself ? What do you think the optimum risk reward ratio should be ? should he stick to 2:1 ? Cheers
Your questions have already been covered previously, either directly or by implication, which SP has acknowledged.

As this is his thread, then SP must decide whether to act on my observations as I laid out or not. It is his call tbh
  • #558
  • Apr 9, 2017 7:37am Apr 9, 2017 7:37am
Quoting Landline
{quote} Your questions have already been covered previously, either directly or by implication, which SP has acknowledged. As this is his thread, then SP must decide whether to act on my observations as I laid out or not. It is his call tbh
You wont answer my question because you're full of shit ...you haven't given one piece of valuable advice.
You are an idiot.
  • #559
  • Apr 9, 2017 7:41am Apr 9, 2017 7:41am
Quoting price777999
{quote} You wont answer my question because you're full of shit ...you haven't given one piece of valuable advice. You are an idiot.
It is clear that you're a highly strung and emotional individual....you're in good company with one ore two other morons prowling the threads hahaha
  • #560
  • Apr 9, 2017 8:09am Apr 9, 2017 8:09am
Quoting Landline
{quote} It is clear that you're a highly strung and emotional individual....you're in good company with one ore two other morons prowling the threads hahaha
Yep ...one thing that really gets me is people that don't give straight answer's ..
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