Rewind Back 15 Years

[mbondy]

already closed but you watch only the losing trades

Well who cares how many trades you 'win' if in the end, you're still losing?

 

[padutrader]

Well who cares how many trades you 'win' if in the end, you're still losing?

i am not losing in the end

 

[padutrader]

sold usdjpy at 110.820View attachment 202091

close usdjpy short at 110.409 profit 41.1 pips ticks

 

[padutrader]

sold usdjpy at 110.341

 

[padutrader]

monkeys who see only evil, hear only evil, talk only evil....

 

[padutrader]

momentum cycle, congestion, moving averages..expect each correction,counter trend move, to be longer

focus and check all these before entering any corrective move because a corrective move is also a trend.
always proceed with extreme caution when going counter trend to a corrective move.
with trend moves can be trusted more than corrective moves

be careful of reversal bars ALWAYS CHECK WHAT IT IS REVERSING.

this is for me to remember......i am not coaching anyone so please not discuss it

 

[padutrader]

I back tested MAs over various products and time frames, there is no edge, you will loose over certain period of time.

there is another point i want to stress or explain.

there are a no of things: momentum moving averages price etc

these are like the alphabets of the English language....you can learn each individually but you will NOT understand English literature by knowing those alphabets alone.

so some traders swear by Brooks price action or by momentum or by something else

so just testing ma will not help...you have to put it all together and that is what has taken me 12 years.

I understand many traders focus on ma or momentum or volume or price.....and if you do that... then you are understanding a small part of market language and you have to a use stop loss because maybe 4-5 trades will be wrong.

 

[padutrader]

Well who cares how many trades you 'win' if in the end, you're still losing?

if i am not bothered about my loosing why should anyone else care.

this journal is for my record not for others to appreciate, make fun of or laugh at....

you may do all of that but please do not clutter my journal...do it somewhere else start another thread if you like

 

[padutrader]

sold usdjpy at 110.341View attachment 202095

closed trade 110.85 loss 50 pips

 

[Turveyd]

stop loss will not save you against a gap

you cannot buy the low and sell the high so keeping a tight stop is unrealistic

but i do use a very very wide stop to save against black swan event

That's why you don't hold over the weekend close or over news for that matter.

And Yes a SL can protect you and you can buy the highs and the lows ( not with 100% Accuracy ) you just don't know how to yet.

It's all about having real entries where your risking 10pts with the potential of 30+++ pts.