Diary of a very bad trader!

Quote from Brianharvey:

I guess everyone here would like to make a living out of it, me included.

(Although my years on various trading forums suggest that, despite some peoples claims, this may not be possible without a lot more 'off-chart' information)
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What hypotheses did you formulate to guide you in your initial testing?
 
"last trade of the day was a particular sickener"

I don't understand your chart, that looks like a pretty nice profit to me....?
 
Quote from Mo06:

"last trade of the day was a particular sickener"

I don't understand your chart, that looks like a pretty nice profit to me....?
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Light green is long. Blues are always exits.
I got long on a porential breakout, it stopped me out more or less to the pip, and then zoomed up without me.

Made some back since on a short. Not an awful day.

DB - A tendency for price to reverse around certain price action 'setups'
 
Quote from Mo06:

Looks to me like your stops are WAY too tight.

Also breakouts exist to be faded.
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Interesting.
Most people suggested that they were too big! :)
Thanks for commenting.

Interesting thought on breakouts. Certainly goes against most advice that i've heard.

Thanks.
 
Quote from dbphoenix:

And how did you define this in order to test it?
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With my eyes. A visual 'pattern' leading to a change of direction by at least 1.5x as many points as the stop required. And then going though charts manually, bar-by-bar
 
Quote from Brianharvey:

With my eyes. A visual 'pattern' leading to a change of direction by at least 1.5x as many points as the stop required. And then going though charts manually, bar-by-bar
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That may be part of the problem, since the market doesn't care about your stops, and basing your strategy on something which hinges on an irrelevancy is very likely to lead to inconsistent and unsatisfactory results.

At the very least, one's strategy ought to provide guidance with regard to distinguishing up from down and trending from ranging. Yours clearly does not do that. Therefore I suggest you stop and reassess your approach to the market and to trading. Given that you've been at this for three years, you really ought to have had it by now.
 
winning day today.

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