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Trading is as simple as 1-2-3

  • #3,601
  • May 16, 2017 8:37am May 16, 2017 8:37am
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Click to Enlarge Name: TooSlow.png Size: 59 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,602
  • May 16, 2017 10:59am May 16, 2017 10:59am
Quoting lemercenaire
{quote} ''I can't seem to have proper set up on my screen for them.'' In what way? ''... still trying to master. Express trains vs acceptable trains on the H4.'' Aren't we all Seriously though, it just takes a bit of time. If you've seen 4 x H4 bars in a row, the likelihood of a turn is actually greater. The ones I don't like are having maybe 2 x H4 big bars, as that could go either way. Move on to the next pair. ''I had 4/5 winners early Tokyo session, but that 1 loser really ate into profit'' Why? Are you taking...
Blue Arrows shows Winners (4)
Red Arrow shows Loser (1) with the 13.5SL approx for that USDJPY trade
That one loser i lost a bit more than half of overall profit from the trades.

The way I'm doing this is i open a standard .40 lot and .10 lot. I then close the .40 lot when 5pip Target is reached, and then move .10 lot to break-even, once it hits 10 pips, or 20 pips, i divide by 2 and let that be trailer. I.E. 10 pip current then 5 pip trailer. 20 pip current 10 pip trailer.
Please advise if this is suitable.
Attached Image (click to enlarge)
Click to Enlarge Name: Trades.jpg Size: 352 KB
  • #3,603
  • May 16, 2017 11:13am May 16, 2017 11:13am
Quoting faatkumo
{quote} Blue Arrows shows Winners (4) Red Arrow shows Loser (1) with the 13.5SL approx for that USDJPY trade That one loser i lost a bit more than half of overall profit from the trades. The way I'm doing this is i open a standard .40 lot and .10 lot. I then close the .40 lot when 5pip Target is reached, and then move .10 lot to break-even, once it hits 10 pips, or 20 pips, i divide by 2 and let that be trailer. I.E. 10 pip current then 5 pip trailer. 20 pip current 10 pip trailer. Please advise if this is suitable. {image}
There doesn't seem anything particularly wrong there. The money-management aspect, as has been mentioned many times before, is a work in progress here and as far as I can see, you're on the right track.

One thing I would say is on the psychological front - a hugely important aspect of trading - that you should try to always look at turning these kind of situations around. What I mean is, get it into your head that you came out of it ahead - not down. So that's a win, not a loss. Reading the way you say the above, it comes across that you are narked at losing that profit. That is putting negativity into your head. Always, always, think of the positive side. 5 trades - 4 wins - ended in profit. (Even saying 5 trades 4 wins is better than your 5 trades - 1 loss...see what I mean?)

You're getting there, buddy, keep at it
  • #3,604
  • May 16, 2017 11:15am May 16, 2017 11:15am
Quoting lemercenaire
{quote} There doesn't seem anything particularly wrong there. The money-management aspect, as has been mentioned many times before, is a work in progress here and as far as I can see, you're on the right track. One thing I would say is on the psychological front - a hugely important aspect of trading - that you should try to always look at turning these kind of situations around. What I mean is, get it into your head that you came out of it ahead - not down. So that's a win, not a loss. Reading the way you say the above, it comes across that you...

Thank you, I will press on Lem!
  • #3,605
  • May 17, 2017 3:10am May 17, 2017 3:10am
Attached Image (click to enlarge)
Click to Enlarge Name: 51717123ej.png Size: 17 KB

Long the EJ +6 profit locked. Still in my EU trade +234
  • #3,606
  • May 17, 2017 3:18am May 17, 2017 3:18am
Attached Image (click to enlarge)
Click to Enlarge Name: 51717123jy.png Size: 17 KB

Attachment g
Also took a shot at the JY +5 locked.
  • #3,607
  • May 17, 2017 6:42am May 17, 2017 6:42am
Attached Image (click to enlarge)
Click to Enlarge Name: 51717123gu.png Size: 17 KB

Short the GU. You can see what happened to my first trade on this pair. I would not recommend this but I leveraged my second attempt and recovered my loss. In this instance it worked. But if it doesn't it digs a pretty big hole.
  • #3,608
  • May 17, 2017 7:06am May 17, 2017 7:06am
My EU trade now stands at +253, 60 trailer still in place.
  • #3,609
  • May 17, 2017 7:41am May 17, 2017 7:41am
Quoting hal7
My EU trade now stands at +253, 60 trailer still in place.
Wow fantastic.
  • #3,610
  • May 17, 2017 8:07am May 17, 2017 8:07am
Got smacked on A couple of AUDUSD trades during the first couple of hours in Tokyo Session.

What does one do with 2 in a row losses.
Anyone else?
  • #3,611
  • May 17, 2017 8:18am May 17, 2017 8:18am
Quoting faatkumo
Got smacked on A couple of AUDUSD trades during the first couple of hours in Tokyo Session. What does one do with 2 in a row losses. Anyone else?
I'd check with Hal and TooSlow about pairs they trade most on the Asian session (or anyone eles who wants to pitch in). I think that Tokyo is not an easy session to trade, no matter what method one uses.
  • #3,612
  • May 17, 2017 9:12am May 17, 2017 9:12am
Attached Image (click to enlarge)
Click to Enlarge Name: 51717123nz.png Size: 19 KB

Long the NZ +8 profit locked.
  • #3,613
  • May 17, 2017 9:21am May 17, 2017 9:21am
Quoting faatkumo
Got smacked on A couple of AUDUSD trades during the first couple of hours in Tokyo Session. What does one do with 2 in a row losses. Anyone else?
Sorry not much help on that, I don't trade Tokyo. As far as handling two loses in a row, you move on.
  • #3,614
  • May 17, 2017 9:42am May 17, 2017 9:42am
Quoting lemercenaire
{quote} I'd check with Hal and TooSlow about pairs they trade most on the Asian session (or anyone eles who wants to pitch in). I think that Tokyo is not an easy session to trade, no matter what method one uses.

Yeah always was skeptical of these hours Lem.
  • #3,615
  • May 17, 2017 9:43am May 17, 2017 9:43am
Quoting hal7
{quote} Sorry not much help on that, I don't trade Tokyo. As far as handling two loses in a row, you move on.

I guess i will avoid and certainly move on...
It's kinda heartbreaking when you're having a good/acceptable daily set of trades and then one day, two in a row losers especially with a 2+:1 risk reward.
not complaining though.
  • #3,616
  • May 17, 2017 10:24am May 17, 2017 10:24am
USDCAD win
USDJPY win


So H4's looked acceptable.
USDCAD had the best H4 seneario in my eyes, but SL would've been so many pips away, so what i'm doing to keep in mind with my moneymanagement i'm adjusting lot sizes for these huge SLs.
Seems to be appropriate since i'd hate to miss the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: Trades.jpg Size: 311 KB
  • #3,617
  • May 17, 2017 10:31am May 17, 2017 10:31am
Quoting faatkumo
USDCAD win USDJPY win So H4's looked acceptable. USDCAD had the best H4 seneario in my eyes, but SL would've been so many pips away, so what i'm doing to keep in mind with my moneymanagement i'm adjusting lot sizes for these huge SLs. Seems to be appropriate since i'd hate to miss the trade. {image}
Yeah, I do like H4 1-2-3 set ups. They are so robust but as you say, you need to make adjustments to your trade-management.
  • #3,618
  • May 17, 2017 10:55am May 17, 2017 10:55am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,619
  • May 17, 2017 11:05am May 17, 2017 11:05am
My NZ trade is at +31, 20 trailer in place. EU +272, I look at this trade and wonder how much has been lost trying to short this move. Nice to be riding along on the way up.
  • #3,620
  • May 17, 2017 11:49am May 17, 2017 11:49am
Quoting hal7
My NZ trade is at +31, 20 trailer in place. EU +272, I look at this trade and wonder how much has been lost trying to short this move. Nice to be riding along on the way up.

What do you mean by "how much has been lost trying to short this move"?
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