Watch the rise (or fall) of a trader gone naked -
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thread: Watch the rise (or fall) of a trader gone naked

  1. #21
    SL @ 1.3086

  2. #22
    SL @ 1.3022

  3. #23
    Closed @ 1.29937

    Have a nice weekend!

  4. #24
    Closed @ 1.29937

    Have a nice weekend!
    Nice R:R, Fantastic work.

  5. #25
    Nice R:R, fantastic work.
    Thanks, Sam!

    Maybe sometime I'll have time to print my results a bit more informative than simply entries and exits...

  6. #26
    After I began with my EU1H Method, it was aimed towards trending markets. There was no boundary between ranges and trends. Therefore, I suffered 5 successive losses. Totally unnecessary. Recall my post where I added another indior to secure more selective in my trades? Here is what it will. View the attached chart. I have marked where my Market Sort Indior shows me the bounds. It tells me exactly what kind of market is more likely. Bull, bear or range. And what would you do?

    Bull buy at the end of a pullback down
    Bear sell at the end of a pullback up
    Range buy at the end of a pullback to the bottom of the range, and market at the end of a pullback around the Peak of the range.

    The aforementioned is actually nothing more than fundamental trading, huh?

    What about stops? Previous large or preceding low.




  7. #27
    Market: Bearish (see attached chart in the previous article ).
    Action: Wait for a pullback up to the 24 hour MA or the 48 hour MA, enter at first sign of trend continuation.

  8. #28
    Man... this week has been very busy for me. Trade 23 got stopped out, so did 24 and 25... That triggered yet another breakthrough in my own learning process, I believe.

    A fast recap... November was extremely profitable to me. I started out with a 5% risk and slowly managed to reduce it to just over 2 percent by risking the identical sum of money in each trade. In December I lost half of the November profits. Therefore, I added a get-more-selective indior. In January I decreased the risk to 1 percent.

    Then it struck me... I've already learned that it is important to filter out bad entrance signs. Being discerning. Now I've also recognized that it is equally important to maintain the losses as small as you can. Though I've heard it before, it is not until now I truly UNDERSTAND. That's again being discerning, not in entrance signs, but where began trades to leave open. I am certain that I will exchange for a very long time, possibly for the rest of my life. A logical consequence is that the preservation of my capital ought to be my first concern. Formerly it's more or less been not to miss any big moves, and chase large R:R's...

    Practically this means that I will not only select the ideal entry signs. I'll also change my entrance signals from indiion of the end of a pullback to the rest of earlier large (uptrend). Too keep the losses to a minimum each new trade will start off with a trailing stop beginning just below previous low. If it gets to break even, it will be transformed to a manual tracking stop following the higher highs or a middle-of-range indior, whichever is closest to the current price.

    This technique will make me overlook more big moves, but it will make the losses smaller.

    My trading will probably evolve beyond this stage, but for now I will take what the market can offer me. The remaining part of the market movements I will happily abandon to speculators and gamblers, but also to professionals which are better traders than me.

    Have a Wonderful weekend!

  9. #29
    Junior Member AnegriG8's Avatar
    7
    [quote=ray;2962041]

    I figure I am the first one to see your thread you've started 30 mins ago. I wish you the best.

    The James16 egy may suit you. It is performed on daily timeframes with price action. MACD is only used for divergence, which is very powerful when combined with supports, resistances, candlestick price action, etc..

    Yes, the trend is your friend to the finish. Don't risk more than 1 percent on any 1 transaction however great the installation is. Money management is essential. Do not try to take every transaction setup, take A installments.

    Take a deep breath and relax. You are persistent, so your success will come.

    All of the best,

    DW

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