update on my open short:
does not look very good for me and my profit .as of now.
does not look very good for me and my profit .as of now.
New tradergod new journal
- Thread starter padutrader
- Start date
You should never average down, you may have put 8 years into learning, but that guarantees nothing. What or how did you come up with high probability? What was your sample size of back testing?
"However after a stop is taken out and then goes your way without you,or target not reached, you may/should study that ,see what happened, and remember that, so that when the market is, in that same situation, another time you may modify the stop."
So one occurrence you modifying? Unless you have a sample size of min of 300 occurrences, you have no idea of probabilities. You have no concepts of that I can see of distance from the start of last new trend, I doubt you keep track of ten day average of down swings and upswings. So you don't keep selling in a market that could remain in down trend but going to have longer than norm retracement to trigger stops. I don't see you have a clear understanding of charting.
I think you would benefit more by putting in arrows of where you got in, cause it too hard for me to even check out your chart with very black background which hurts my eyes.
First off you missed the H&S at 5:11 with trend sideways to down, then after:
There are huge differences in pivot lows that are dropping when all the next few-dozen bars fit inside the body of a low bar plus important is range of that low bar to determine continuation of trend or reversal, there is almost always a fake out signal to the upside to trap or in other words allow knowledge to get short at highs of those bars and risk next to nothing, so first 2 pivot lows were the same, the last shows no inside bars and reversal, so if you keep 10 day average of swing sizes, you know based on that, at certain point best to stop taking shorts.
Without clear written rules to follow, you have no trading plan, and please don't say your style can't be programmed, any thing can be programmed including foretelling cycle of how low is low and trendlines. I have even programmed fundamental news into my forex/currency systems that require it.
I really don't see this as a system, more like hope. Stop trading and have well detailed trading plan written, then show it to some other well traveled trader to see if it makes sense and have well documented sample sizes of back testing. Just remember, lots of bored people on ET are going top be saying keep at it, but they all know you sliding into doom.
I like to be able to say something positive....hmm I have been wrong on occasion, but clearly you can't read charts.
"However after a stop is taken out and then goes your way without you,or target not reached, you may/should study that ,see what happened, and remember that, so that when the market is, in that same situation, another time you may modify the stop."
So one occurrence you modifying? Unless you have a sample size of min of 300 occurrences, you have no idea of probabilities. You have no concepts of that I can see of distance from the start of last new trend, I doubt you keep track of ten day average of down swings and upswings. So you don't keep selling in a market that could remain in down trend but going to have longer than norm retracement to trigger stops. I don't see you have a clear understanding of charting.
I think you would benefit more by putting in arrows of where you got in, cause it too hard for me to even check out your chart with very black background which hurts my eyes.
First off you missed the H&S at 5:11 with trend sideways to down, then after:
There are huge differences in pivot lows that are dropping when all the next few-dozen bars fit inside the body of a low bar plus important is range of that low bar to determine continuation of trend or reversal, there is almost always a fake out signal to the upside to trap or in other words allow knowledge to get short at highs of those bars and risk next to nothing, so first 2 pivot lows were the same, the last shows no inside bars and reversal, so if you keep 10 day average of swing sizes, you know based on that, at certain point best to stop taking shorts.
Without clear written rules to follow, you have no trading plan, and please don't say your style can't be programmed, any thing can be programmed including foretelling cycle of how low is low and trendlines. I have even programmed fundamental news into my forex/currency systems that require it.
I really don't see this as a system, more like hope. Stop trading and have well detailed trading plan written, then show it to some other well traveled trader to see if it makes sense and have well documented sample sizes of back testing. Just remember, lots of bored people on ET are going top be saying keep at it, but they all know you sliding into doom.
I like to be able to say something positive....hmm I have been wrong on occasion, but clearly you can't read charts.
Thanks for your indepth insights.
my aim is to make 2 pips a trade 4 times a day with one full lot
.then i will earn the same as my wife who works as a manager quality control in a pharma company with 25 years experience.
what system do you need for that and what back testing do you need for that.
the trades i post are not what makes me money-they are There for my record and are a trial run. that is why the account size is low
what you see is my ET avatar
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it is right when they say RIDE THE TREND: but the problem is people ride the donkey and not the thorough bred horse.
They cannot distinguish between the one that races ahead,from that which makes heavy weather of covering even the smallest of distances
i am sure kindergarten kids have programming skills and when they admit me to kindergarten i will have them too
I am really sorry to say that i can no longer update this journal because i do not have time to
I am now only solely trading the M1 so my complete focus needs to be on the action.
it took me ten years
it took me ten years because Al Brooks-self declared king of the 5 min said not to go anywhere near 1 MIN.
That is like saying do not go into deep ocean.Of course do not go there. unless you are a fish.
I was made for the 1 minute.
I am finally home where I belong
I am now only solely trading the M1 so my complete focus needs to be on the action.
it took me ten years
it took me ten years because Al Brooks-self declared king of the 5 min said not to go anywhere near 1 MIN.
That is like saying do not go into deep ocean.Of course do not go there. unless you are a fish.
I was made for the 1 minute.
I am finally home where I belong
in forex the party does not end.....it only ends when you collapse on the bed...or on weekends
How can you calculate a risk-reward ratio on only 1 trade?????