Turveyd,
Now you are trading scared money, which is bad anyway. But much worse news is what you call ‘The method’ is not trading strategy and even not draft version. It’s more like idea how to view price action using several filters. 10% of job is done, 90% awaiting. Why do I know it? Because I was there years ago. My friendly advice is stop wasting time and money and find the job which will allow you have time for research. Now you bored during holidays because you think that you can grow as trader only on live market. My opinion – you are on the wrong path. How to turn to the right path? Ok, firstly stop trading scared money and get the job. It is not the end of life and not the end of trading career. It can be end of gambler’s period. You tried to crack the market with simple filters and hope that screen time will convert you into profitable. It does not work this way. Do lots of research instead. Useful weekends instead of bored! You are looking to directional trading and it’s good. So you have to deal with chop. You should prove for yourself that trading chop and trading direction with same setup is not possible. You have to develop, test and use filters that will show you when not to trade. I posted here the link to possible anti-chop solution you can start from there if you want. These filters are signals of potential chop. You have to understand that you will not ‘regularly missing good trades’ because of chop filters. Such thing like ‘good trades’, ‘money left on the table’ do not exist! You have to avoid price action which is not favors directional trading.
Do the exercise. Take potential chop filters that make sense to you. Ditch all price action which is potential chop. Explore the remainder and look how your method is performing. Check how much of price action is filtered. If 90% it’s ok. 80% means you are either very good or do some mistake like curve-fitting or so. 70% or less means you are either genius or again do some mistake. Just do this exercise in time of your boring days. Just friendly advice. Do not give up. But also do not knock the brick wall with your head. The wall is harder.
Now you are trading scared money, which is bad anyway. But much worse news is what you call ‘The method’ is not trading strategy and even not draft version. It’s more like idea how to view price action using several filters. 10% of job is done, 90% awaiting. Why do I know it? Because I was there years ago. My friendly advice is stop wasting time and money and find the job which will allow you have time for research. Now you bored during holidays because you think that you can grow as trader only on live market. My opinion – you are on the wrong path. How to turn to the right path? Ok, firstly stop trading scared money and get the job. It is not the end of life and not the end of trading career. It can be end of gambler’s period. You tried to crack the market with simple filters and hope that screen time will convert you into profitable. It does not work this way. Do lots of research instead. Useful weekends instead of bored! You are looking to directional trading and it’s good. So you have to deal with chop. You should prove for yourself that trading chop and trading direction with same setup is not possible. You have to develop, test and use filters that will show you when not to trade. I posted here the link to possible anti-chop solution you can start from there if you want. These filters are signals of potential chop. You have to understand that you will not ‘regularly missing good trades’ because of chop filters. Such thing like ‘good trades’, ‘money left on the table’ do not exist! You have to avoid price action which is not favors directional trading.
Do the exercise. Take potential chop filters that make sense to you. Ditch all price action which is potential chop. Explore the remainder and look how your method is performing. Check how much of price action is filtered. If 90% it’s ok. 80% means you are either very good or do some mistake like curve-fitting or so. 70% or less means you are either genius or again do some mistake. Just do this exercise in time of your boring days. Just friendly advice. Do not give up. But also do not knock the brick wall with your head. The wall is harder.
the curse is back.