Laurus Trading - Reasonable risk and immense long-term return
Results 1 to 6 of 6

Thread: Laurus Trading - Reasonable risk and immense long-term return

  1. #1
    My trading relies on price action and standing management aimed at steady routine daily profit (1% - 2%) with not too high drawdown (maximum 30 percent ).

    Instruments
    EURUSD
    GBPUSD
    USDJPY
    USDCAD
    DAX
    SP500

    Timeframe
    H1 to draw S/R lines
    M15 to put in the transaction

    Chart
    into attachement

    Entry
    With fad (from H1 interval ), following pullback to S/R lineup
    Decision supported by Stoch, EMA100 and Pivots
    1st position is opened following initial signal
    2nd position could be opened (from limit order) at a greater price on nearest local support/resistance
    Discontinue loss
    Hedging - when the price goes in opposite direction I begin to progressively: receptive opposite positions and close initial rankings. I close new opposite positions on following major S/R

    Take profit
    To the next Neighborhood S/R. Usually about 20-30 pips

    Disclaimer
    Please be aware that any information offered within this thread should not be construed as trading hints, recommendations or investment advice and is supplied without any warrants regarding its accuracy.

    --------------------------------
    I am open to suggestions and questions regarding my trading - maybe there is something I will change in order to get better outcomes. I will be posting here my trades - it is possible to follow my trading additionally on Trade Explorer.

  2. #2
    Today's profit = 1percent

    USDJPY
    First commerce was too early and I quited since it began to go in reverse direction. I should have waited a bit for the price to drop a tiny bit and enter just after pinbar - nevertheless I believed that CPI from US would make mess around the chart so I have not reentered - that was a mistake because this economic event is not so strong and I could have quickly earn money on this transaction.
    The second trade was after nice pinbar from primary support on pivot, but I stepped as the market wasn't revealing a strenght in up move.

    GBPUSD
    Entrance on rejection in the resistance - the very first trade wasn't enough so I had to bring another.

    EURUSD
    Entrance on rejection in the resistance very similar to one on GBPUSD, however the price has not moved enough and I decided to shut it, since it was late and I did not see power in this move. Here in fact I should not even enter because just before entrance the price broken past resistanceon 1.0575 - even when the market stopped on the next resistance, the move was only bullish so it was overly countertrend.

    DAX
    Here I have not entered - following prior hard move down I waited on double confirmation in form of e.g. additional pinbar on this degree in order to go very long to the closest resistance. Probably I will make entrance if I spot such situation in the long run - if it goes against me I will just quickly go out of this transaction or change the position.

    -------------------------
    If you have any questions or something isn't clear or you see something which may be make better in my trading - don't hesitate to join the discussion


  3. #3
    6 Structure (s) Last 2 days of this week were fatal - I have made many errors that cause loosing all what I have earned so far in February. But when I analyzed my errors I realized that it was mainly caused by not following rules of my system - when I had done it I would end up this week with fine profit.

    DAX
    First 2 trades were okay. The next day I was looking for some quick methods to recover losses from USDJPY and I have not used my setup of impending limits and stop orders - after first rejection of up move I thought that perhaps the uptrend is finished so I closed with minimal loss and try to ch down this move with tight stop loss and of course caught this SL. The main error here was trying to ch down move when it was not really confirmed - I should have stayed beyond the market if it wasn't very clear.

    EURUSD
    I waited for a pullback in uptrend and I discovered it on Pivot line. I entered it correctly - exactly what I did wrong was going out from the trade 3 times and inputting because I saw reverse signals - this was a mistake, because after I entered the trade I should have taken into consideration that price will fluctuate prior to a stronger move up. After the remainder of handling position was fine - I started to open market stop orders and closed open buys - it was based on the egy and I finally got out on the next main support.

    GBPUSD
    I entered long position based on fad on pivot, however 2 bearish pinbars afterwards made me alter my mind - that the macro data were going to venture out so I thought it'd be wiser to quit. I believe that it was a fantastic choice - however if stayed in the trade and would need to reverse the position I'd make enough until the most important support on S3 to break even or just a bit profitable with this move.

    SP500
    First trade was too premature - I should not enter it but I had closed it pretty fast. The next trade was biased by recovering losses from different trades so I was also counting on fast and long move up so rather than closing with some profit in the end of the day, I kept it and had to shut it on small loss. The next day my choice to enter was great, but reverse candles lead me to shut it to early. Basically I should not be looking on single reverse candles on M15 - on H1 they seemed very bullish so there was nothing to be afraid about.

    USDCAD
    I should not even enter the initial trade - but it's great that I closed it on break even. Another trade that day also stopped on 0 profit but in fact there was no very clear situation here so I also shouldn't have obtained it. What I should have done was trade next day in the afternoon.

    USDJPY
    On Thursday morning that the price was a bit lower and I have doubts - perhaps the uptrend was finished. I should have stayed out before the market is more clear, however I did not and I opened a long position, but it wasn't the biggest mistake because following the system would simply let me reverse the trade and be profitable by the end of the day. My mistakes were following:
    - closing second shorts too early rather than waiting until the major service - because I thought that the market is reversing again
    - inputting long trades too early (I should have opened longs after the price shows that the down move was false and breaks previous support - that became resistance @114.00). At least I might have closed this unnecessary long position after the confirmation of down move. In reality after a price gone up a bit - rather than launching longs I should have open another brief position (half of the existing sell position) because the price showed rejection and confirmed the down move.
    The next day I closed the shorts from previous day, because I thought it's likely to reverse and immediately opened long position which I quickly closed and opened brief again, because a minute later I thought the down move will be continued - very bad, impulsive overtrading without sticking to principles of the system.

    Conclusions
    The fantastic thing about that is I realized which errors I have made and I am unable to make them if I'm thinking seriously about developing this account:
    1. After reversing the situation, the reversed position should be kept until the major support/resistance and only m15 candles should not matter.
    2. After reversing the position, the reverse pending stop order should be kept above/below the primary support/resistance.
    3. If I'm not certain about the market I should not enter.
    4. When I input, I should always do it based on principles with impending limit and stop orders and just wait a bit, provide the price enough place to breath and keep the principles.
    5. Going from the transaction before attaining TP or primary S/R can be only based on strong sign on H1.


    Next week I will be more more vigilant and I will just stick to the principles. Making the very same mistakes is simply not feasible.
    I hope that those decisions will be also valuable for others






  4. #4
    This egy appeared to be not great for me so I'm finishing this journal. In the meantime I'm testing a different egy that has much bigger potential in my opinion. Soon I will start a new journal with new account.

  5. #5
    Hy laurus why prevent this jurnal? Why not to focus with one egy and become an expert with that. . .When you know the weakness of the egy, Should have been expected. . .sory just my stupid opinion

  6. #6
    My transactions from yesterday and today (I waited 1 day because I kept open positions):

    EURUSD
    Simple pullback from resistance in downtrend
    Today I was waiting to see price reaching R1 to brief again - however it retraced sooner with me

    USDJPY
    Simple pullback from service in uptrend
    Today I was waiting for a few powerful reaction around S2 0 however it retraced sooner with me and without a clear signal

    DAX
    Today quick commerce (late unfortunatelly - it seemed for me personally as a chance for a few rapid rally at the conclusion of the afternoon - but it was not so I shut it quickly before session end). I must have entered earlier when it retraced from Pivot, however I needed to depart pc.

    GBPUSD
    This instrument has been problematic for me. First of all I started to enter shorts somewhat too early - then buy stop order triggered, price retraced, leant on previous resistance
    and then begun to grow so I thought it will go up to 1.2575 so I shut shorts and put another extended. However it didn't go up so readily and made double top. So I started to decrease long position and progressively increase brief position - I thought that strong bearish signal will lead price to underside about 1.2450 but it didn't occur and price retraced strongly from 1.2480 (it was also yesterday's pivot) - here I could have closed shorts and open longs, but I was convinced that then double top it will go further down and this retrace was just a quick one. After it broke 1.2510 I must have closed shorts (because brief movement was only rejected) and open extended and ch 20pip proceed until the next resistance, which could decrease previous losses - but I didn't because I was convinced it will return so I opened another brief at the very best to make it easier to recover. Above the resistance I put a few buy stop orders (so that I would lock the place in case of transfer up) - once I woke up I could see that little position has been triggered, but I immediately shut it when couple of stron bearish engulfings seem (I altered this buys as impending buy stops over this creation ) - at this point eventually my projections seemed to be right and also price went down and recovered with profit. If CPI from UK was positive and price would move up I would need to begin closing shorts with large losses and my buy stips orders will be triggered and I will try keep this trade until next major resistance at 1.2575 where I'd go out and maybe enter brief if a few visible pinbar seemed - to recover as much as possible. I am not happy with a lot of switching of this position in those transactions - if anyone has some idea, how could I've played this easier, please let me know




Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners. Read more.