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  • #101
  • May 2, 2017 2:34pm May 2, 2017 2:34pm
Quoting wizlon32
{quote} Is there supposed to be a chart with that buddy?
Sorry my browser crashed! I added it
  • #102
  • May 2, 2017 2:41pm May 2, 2017 2:41pm
Quoting renatoenzo
Hi, I think I did wrong, did I understand the signs to the contrary? I needed to correct {image}
That looks just like something I would do renatoenzo. It is a risky way to trade however so keep practising and build your confidence using either small lots or demo.
Indentify > Plan > Accept > Execute
  • #103
  • May 2, 2017 2:50pm May 2, 2017 2:50pm
Quoting renatoenzo
Hi, I think I did wrong, did I understand the signs to the contrary? I needed to correct {image}
If Wizlon doesn't mind me answering, the answer is simple - don't trade against the trend! "The trend is your friend" - That never changes
  • #104
  • May 2, 2017 3:29pm May 2, 2017 3:29pm
Quoting wizlon32
Bottled it and closed 1 position for a loss. Could have closed all 3 in profit if I had waited a bit but need to get back to work. Entries were on last 3 elipses but I did all of the circles areas in to consideration. {image}

Wiz,
i was messing around with demo and actually snagged this same trade on EURUSD this morning around 530ish on the 1m chart. For the last few months I have been looking hard into market profile and what you presented about the volume was very enlightening. It really helped to put it all together. Personally I prefer to use CCI for divergence, but in the end it is all similar and comes down to personal preference. What gave me a lot of confidence on the EURUSD trade this morning was hitting the Point of control while showing divergence pulse volume spike in a downtrend as you hav shown here. I also monitor pivot points, but that is just personal preference.

I do have one question, what is the purpose of the moving average that changes color on your template back on pag 1? I have not heard you mention it a lot.
  • #105
  • May 2, 2017 4:08pm May 2, 2017 4:08pm
Quoting wizlon32
{quote} That looks just like something I would do renatoenzo. It is a risky way to trade however so keep practising and build your confidence using either small lots or demo.

Wizlon32,

What's your SL strategy. The technique you're using here are similar to one I used to use. The strategy made me over 150% on my personal trading account over a 6 month period. You're using WAY more risk than I did. At this risk level you must only be able to go 3-5 basket trades in before running into margin issues. Do you change you're lot seizes each trade? Also, what causes you to close out losing trades? Do you close them out when you think it's no longer a good position or is there something else? The problem with closing trades when you no longer see them as a good opportunity can be tricky as the mind can play games on us. These mind games can cause us to hold on to trades way too long sometimes.

I see in your history you have a 60% losing trade and a 70% losing trade. Why did you hold onto these trades and why did you close them out when you did?

I ask these questions so I can get a better grasp of when you decide to let go of losing trades.
  • #106
  • May 2, 2017 8:05pm May 2, 2017 8:05pm
Thank you gentlemen for the clarification of great help.
  • #107
  • May 2, 2017 11:02pm May 2, 2017 11:02pm
Quoting tmchrist
{quote} Wiz, i was messing around with demo and actually snagged this same trade on EURUSD this morning around 530ish on the 1m chart. For the last few months I have been looking hard into market profile and what you presented about the volume was very enlightening. It really helped to put it all together. Personally I prefer to use CCI for divergence, but in the end it is all similar and comes down to personal preference. What gave me a lot of confidence on the EURUSD trade this morning was hitting the Point of control while showing divergence...
The MA is the 200EMA. It is there partly out of habit a D partly to go e my chart a bit of Context because I am looking at the M1 chart a lot if the time. As I'm sure you know the 200 ema is a very popular MA and can be a good source of dynamic S/R. I could probably remove it without any impact on my trading though.
Indentify > Plan > Accept > Execute
  • #108
  • Edited 11:28pm May 2, 2017 11:13pm | Edited 11:28pm
Quoting Cubbybgood
{quote} Wizlon32, What's your SL strategy. The technique you're using here are similar to one I used to use. The strategy made me over 150% on my personal trading account over a 6 month period. You're using WAY more risk than I did. At this risk level you must only be able to go 3-5 basket trades in before running into margin issues. Do you change you're lot seizes each trade? Also, what causes you to close out losing trades? Do you close them out when you think it's no longer a good position or is there something else? The problem with closing...
I don't have a specific SL strategy. A lot of what I do is completely discretionary and it depends on how I see things at the time. At times I may use hedging as a short term fix but I am not going to go in to Any of that here. Those large % losses were at a point when my account was pretty small in comparison to where it is now and i knew what I wanted to do to grow my account quickly - I had a couple of set backs, but I got there in the end pretty quickly. I can't actually remember the specifics of those 2 trades to be honest.
You might never get me or agree with the way I do things. I don't recommend that anyone trades ecactly as I do. But I do recommend using volume.

I am starting to think that the best thing I could do might be to remove my trade explorer.
Indentify > Plan > Accept > Execute
  • #109
  • May 3, 2017 1:40am May 3, 2017 1:40am
Quoting wizlon32
{quote} I don't have a specific SL strategy. A lot of what I do is completely discretionary and it depends on how I see things at the time. At times I may use hedging as a short term fix but I am not going to go in to Any of that here. Those large % losses were at a point when my account was pretty small in comparison to where it is now and i knew what I wanted to do to grow my account quickly - I had a couple of set backs, but I got there in the end pretty quickly. I can't actually remember the specifics of those 2 trades to be honest. You might...
Private, is the best option

PS: UJ possibility of short, soon
The funniest, is that nobody takes me seriously.
  • #110
  • May 3, 2017 2:07am May 3, 2017 2:07am
Quoting FairTrader
{quote} Private, is the best option PS: UJ possibility of short, soon

Well I for one would be uphappy if Wizlon takes down his explorer!

Anyway, are you looking around 111.28?
  • #111
  • May 3, 2017 2:46am May 3, 2017 2:46am
I'm unhappy too

Wizlon, please don't take down your explorer.
  • #112
  • May 3, 2017 3:04am May 3, 2017 3:04am
Quoting jmtini
{quote} Well I for one would be uphappy if Wizlon takes down his explorer! Anyway, are you looking around 111.28?
Yes, I´m looking to see what PA will do
Attached Image (click to enlarge)
Click to Enlarge Name: uj.PNG Size: 31 KB
The funniest, is that nobody takes me seriously.
  • #113
  • May 3, 2017 5:20am May 3, 2017 5:20am
Wizlon, we can not say what you are going to do, if some here use criticism, please disagree, because they speak but do not show, lose everyone here already lost but do not want to admit, praise your work and show courage what does and Serves as an inspiration for beginners like me, please do not take into consideration those who do not have the courage to do the same. thank you.
  • #114
  • May 3, 2017 5:47am May 3, 2017 5:47am
Quoting wizlon32
{quote} I don't have a specific SL strategy. A lot of what I do is completely discretionary and it depends on how I see things at the time. At times I may use hedging as a short term fix but I am not going to go in to Any of that here. Those large % losses were at a point when my account was pretty small in comparison to where it is now and i knew what I wanted to do to grow my account quickly - I had a couple of set backs, but I got there in the end pretty quickly. I can't actually remember the specifics of those 2 trades to be honest. You might...

That makes sense. Seems whatever you're doing now is working. Keep it up.
  • #115
  • May 3, 2017 6:10am May 3, 2017 6:10am
Thanks for the words of support guys. It's not that I think Cubbybgood was being negative or overly critical, it's just that there does seem to be nit-picking at the way I trade (money management). I do get it. I take risks and that probably seems reckless to some. But if I traded using what is generally accepted as good or sensible money management I would probably still be trying to make my first £100 profit. I am a advocate of the saying "each to their own".
Indentify > Plan > Accept > Execute
  • #116
  • May 3, 2017 7:04am May 3, 2017 7:04am
Quoting wizlon32
Thanks for the words of support guys. It's not that I think Cubbybgood was being negative or overly critical, it's just that there does seem to be nit-picking at the way I trade (money management). I do get it. I take risks and that probably seems reckless to some. But if I traded using what is generally accepted as good or sensible money management I would probably still be trying to make my first 100 profit. I am a advocate of the saying "each to their own".

I actually agree with you here!

I know that good MM is 3-5% profit each month with a DD of 20% or less on the account. We all know this can even be a challenge. Honestly, we all should be happy if we can even profit just 1% a month because that's better than the majority.

I've been trading for 12 years and completely understand that this kind of trading is necessary if one decides they want to make trading a career with personal funds. We can also make trading a career if we're consistent at making 3-5% per month but it will take a good 2-3 years on an account size of $10k.

Most retail traders don't even have $10k to start with unfortunately. Because of lack of funds and also impatience we're all stuck trying to turn $500 into $10+k.

I completely get why so many retail traders try to do what you've done here. I can do it on a level as well but I could never exceed 20% profit per month with my strategy. Also, I was basically putting the entire account at risk running it.

The problem is most of the traders that try to accomplish this type of trading here blow their accounts in the 300-1000% profit range. They can't keep up the high risk trading accuracy. Lets face it, we need to be very precise on our entry's because our trades won't have a lot of space to breath considering how much margin each one is using. You've succeeded where must have failed. Doesn't mean you're safe but I get a sense your out to protect your account balance more now then in the early stages of your account.

I'm with you here wizlon32. I have a larger $13k account and smaller fun account in the $500 range which I do high risk trading on. We all do this type of trading. It's just that most of us fail at it because it takes a certain type of person, system and risk that's incredibly difficult to work with in the long-term.

I call my $500 account fun because that's what it is right now. If I happen to turn it into...say $5000 then we're getting serious.
  • #117
  • May 3, 2017 9:02am May 3, 2017 9:02am
Quoting Cubbybgood
{quote} I actually agree with you here! I know that good MM is 3-5% profit each month with a DD of 20% or less on the account. We all know this can even be a challenge. Honestly, we all should be happy if we can even profit just 1% a month because that's better than the majority. I've been trading for 12 years and completely understand that this kind of trading is necessary if one decides they want to make trading a career with personal funds. We can also make trading a career if we're consistent at making 3-5% per month but it will take a good...

$500 - Wow you're so lucky to be able to start with that kind of money!

Guys if you want to see an automated version of all this, I've posted a few charts on my thread (automated trading $100 to $1000)
  • #118
  • May 3, 2017 10:29am May 3, 2017 10:29am
Quoting wizlon32
Team No is losing ground {image}
What about team don't know
  • #119
  • May 3, 2017 10:46am May 3, 2017 10:46am
Quoting mizi123
{quote} What about team don't know
I dont know ... but I wanna know
The funniest, is that nobody takes me seriously.
  • #120
  • May 3, 2017 12:11pm May 3, 2017 12:11pm
Quoting wizlon32
{quote} ..... I am starting to think that the best thing I could do might be to remove my trade explorer.
May I give my 50 cents here?

It really depends on how you plan on reacting to both extremes of the "reaction sphere"... there will be those who would become a fan and somewhat worship you and defend you with their teeth and nails, but also those who'll do everything in their power to destroy your image/status... it doesn't mean that you want to create one anyways, but surely this could happen.

Imho, if plan on answering to every single reaction people have, you may lose the will to share as it seems to be rooted on gratitude and not ego.

However, if you don't want to embark on this public figure kind of "normal" events than I believe it'll be better for you to take down your trade explorer and just focus on PIPs like most.

Hope you make a decision based on your personal feelings instead of being bothered by other-selves

Your trades are gold and if continued to be shared with/without trade journal, they are still amazing
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