It is all a Fugazsy

I need to read the whole thread-keep up the good work and be disciplined .Whats your daily target?
 
I need to read the whole thread-keep up the good work and be disciplined .Whats your daily target?

Hi itspossible, I do not have targets, I take what is given to me, today is a kind of break even day, I made a few mistakes here and there (normal stuff) but I recovered with the EU trade....

There is also lot of rubbish in the thread, I would not take it too seriously but if I have to give you and advise is this: the best move happens at the opening, in our case at London opening, before London opening draw technical analysis from the day before coming in today like trend lines, flags, channel lines and so on.....

if the market the day before into today has formed a bull flag and in the first hour or so of today breaks above the flag and then prints a nice reversal bear bar, it might be the high of the day, place a sell stop order 1 pip plus spread below it and protect you 1 pip plus spread above it, that is the signal bar, if triggered strongly you might want to trail your stop above the entry bar, now your risk is minimum.....

leave the computer and take your love one for lunch.....you never know you might have gained 5 times your initial risk when you come back after lunch before NA opening......here I would just close the trade and take your love one to do something more.....

That is a fail break out.......if the fail break out fails, you can trade a break out pull back......also mark the swing high low of the previous day with the high/low of the previous day and trade fail break out and break out pullbacks in the first or second hour of the opening.

trade more than one pair, 3 or 4 will do because some will move more than the others in a particular day.... look for 1 to 3 trades per day and once you feel you are in line with the market increase your volume and NOT the number of trades.

Fug
 
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^^^^yes ,its all about finding a strategy and safe moves that work for you.you see a pattern that should work-if it doesnt just close it out with a small loss as it hasnt worked out.so many traders complicate things.keep it simple-you see a pattern that you believe will work-take the trade-if it doesnt go as planned close out and take your loss like a man and be glad that there wasnt more of it.also trading is breakeven somedays and small losses and then the wins -very frustrating.loved 1 is at work at the momement-son is cooking lunch-living the dream
 
Hi itspossible, I do not have targets, I take what is given to me, today is a kind of break even day, I made a few mistakes here and there (normal stuff) but I recovered with the EU trade....

There is also lot of rubbish in the thread, I would not take it too seriously but if I have to give you and advise is this: the best move happens at the opening, in our case at London opening, before London opening draw technical analysis from the day before coming in today like trend lines, flags, channel lines and so on.....

if the market the day before into today has formed a bull flag and in the first hour or so of today breaks above the flag and then prints a nice reversal bear bar, it might be the high of the day, place a sell stop order 1 pip plus spread below it and protect you 1 pip plus spread above it, that is the signal bar, if triggered strongly you might want to trail your stop above the entry bar, now your risk is minimum.....

leave the computer and take your love one for lunch.....you never know you might have gained 5 times your initial risk when you come back after lunch before NA opening......here I would just close the trade and take your love one to do something more.....

That is a fail break out.......if the fail break out fails, you can trade a break out pull back......also mark the swing high low of the previous day with the high/low of the previous day and trade fail break out and break out pullbacks in the first or second hour of the opening.

trade more than one pair, 3 or 4 will do because some will move more than the others in a particular day.... look for 1 to 3 trades per day and once you feel you are in line with the market increase your volume and NOT the number of trades.

Fug

I will show you a chart, it is much easier to understand visually.....coming

This is what I had drawn technically on this pair, market has broken a couple times a few trendlines indicating that bulls are there, when trendlines are broken does not necessary mean market will reverse, but there is a good chance that market will revers at least for two legs up at the test of the recent low (a test can be a actual test or an overshoot/undershot of the recent low).

As soon as Europe open market broke the new recent low and paused, now here I am thinking fail break or if it continues down I am thinking breakout pullback. (I rarely think break out unless is a huge trend bar and if that is the case I will enter by reducing volume only below that strong trend bar).

Market did not continue and as soon as I saw a decent bull bar I entered above it placing my stop below it, in this case I did not trail my stop below the entry bar because I felt a bit of push and pulling was due.....nothings is black and white in trading, it is all grey and a bit of creativity needs to be injected here and there......
 

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and this is the trade I made the day before on the right.....I was a bit later here taking the kids for activity all around town......

Same mechanics here......Market breaks the down trendline in the first hour and prints a nice reversal bar and I take the trade with a wide stop,then trailed to -5pips, not partial profit...I took the all profit just at your lunch time.

After a while you will know when is a fail break out and which is going to be break out pull back...

I hope it helps a bit.....
 

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the test is when it doesnt.a small loss and preserving capital is the key:cool:

yes i think so...

This is one way to do it....surely there are many other ways...

The market present so many variables and I think a trader has to make things simple as much as he/she can because many other factors are involved as emotions, ego and so on....

Market is not always generous and if you force your hands when she is not she is going to take them with her.....

A basic knowledge of TA as break out, fail break out, break out pull back, 3 pushes up, wedges, channel line, flags, fail final flag together when best to trade is required.

Once we take the trade we cannot control the outcome and we need to relax, market does not like nervous traders....
 
UC

Took 10 pips out of this one and lost 18 pips out of EA

only 3 trades 2 win and one loss, wins are 1:1 RR as with the loss..... I will not complain.

Those are the days where you can lose your shirt if you force your hand and that is why having a target is not such a good idea, in days like this one has to play defensive, less total football and more catenaccio.
 

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guys, I think they have changed my setting in my journal, I think I have to place you guys in my contacts for you to be able to post........I will do it tomorrow...... and if I do not know you and you would like to post just send me a private message and I will add you.

Fug
 
guys, I think they have changed my setting in my journal, I think I have to place you guys in my contacts for you to be able to post........I will do it tomorrow...... and if I do not know you and you would like to post just send me a private message and I will add you.

Fug

Shaky has changed the setting the way I like......it should work now...
 
Many if not all are searching for a system or method and mostly fail because a trader needs to find a style that reflect his own personality.

There are numerous questions a trader needs to ask herself before she search for a method that is compatible to her own personality.

I strongly believer this is the key.

For example I like the idea of scalping, but my character does not respond well to it, the too close vicinity to the market startles me and as a consequence I make many mistakes which brings also a lot of emotions from me, I do not sleep well and makes me tired watching the screen for hours and I am not enjoying siting for long on a chair....

This is just one example but many more questions needs to asked....
 
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Many if not all are searching for a system or method and mostly fail because a trader needs to find a style that reflect his own personality.

There are numerous questions a trader needs to ask herself before she search for a method that is compatible to her own personality.

I strongly believer this is the key.

For example I like the idea of scalping, but my character does not respond well to it, the too close vicinity to the market startles me and as a consequence I make many mistakes which brings also a lot of emotions from me, I do not sleep well and makes me tired being watching the screen for hours and I am not enjoying siting for long on a chair....

This is just one example but many more questions needs to asked....
im sorry for being a negative nellie but lack of sleep, anxiety worry,win lose,breakeven was the reason that i stopped and just watch.it was like a massive weight lifted from my shoulders.im still observing patterns etc but unless you can handle those factors i think that there is more to life.:eek:
 
im sorry for being a negative nellie but lack of sleep, anxiety worry,win lose,breakeven was the reason that i stopped and just watch.it was like a massive weight lifted from my shoulders.im still observing patterns etc but unless you can handle those factors i think that there is more to life.:eek:

I agree with you, I do not think you are negative nellie, I think you are given an honest perception which is very unusual in this environment....

I also think your honest expression is a step forward in knowing and searching your own style of trading, once you find it your taking trades will become effortless.

You probably will not find it straight away but will come you it in little steps if you monitor your emotions and realise what is not appropriate for you.

Of course a bit of work in changing the mindset for trading purposes is needed as in accepting losses and monitoring emotions, here Mark Douglas can help.

Intraday trading does not mean trading only on the 1m or 5m, it can be done very well trading the 30 or 60m and at times can deliver better return if your exit is based on time at the end of day.

The larger time frame can help create that distance to keep emotions at bay as with an injection of objectivity into the system, creativity can be used in creating the method and update it when necessary, but objectivity is required when to get into trading on the daily basis, second guessing is best to be avoided. If we are right that is good, if we are wrong that is also good, it is only part of the costs in running a business in which we had the courage to initiate.

A trader does not have to start with $10000-100000 account and a $500 is more then enough, by risking 1% per trade and taking max 3 trades per day and exiting at the end of NA session I doubt you will lose that $500 unless you become reckless and if that is the case you know what to work on.

Having multi pairs to trade helps me to be choisy (I trade 8), I mostly take trades in the direction of strength with the use of two emas taking reversal patterns from the time of London open, but I also trade against the trend if divergence is showing with reversal, here you can use a simple indicator, macd is good, if they are backed up by a wedge, channel line overshoot, previous resistance/support or a false trendline break, the better but not necessary, TA is good but you do not want to get lost in it. The 15 or 60m TF are good but I prefer the 30.

Usually there a only one or two day in the week when market is most generous, the other days will give some small profit or same small losses.
 
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I agree with you, I do not think you are negative nellie, I think you are given an honest perception which is very unusual in this environment....

I also think your honest expression is a step forward in knowing and searching your own style of trading, once you find it your taking trades will become effortless.

You probably will not find it straight away but will come you it in little steps if you monitor your emotions and realise what is not appropriate for you.

Of course a bit of work in changing the mindset for trading purposes is needed as in accepting losses and monitoring emotions, here Mark Douglas can help.

Intraday trading does not mean trading only on the 1m or 5m, it can be done very well trading the 30 or 60m and at times can deliver better return if your exit is based on time at the end of day.

The larger time frame can help create that distance to keep emotions at bay as with an injection of objectivity into the system, creativity can be used in creating the method and update it when necessary, but objectivity is required when to get into trading on the daily basis, second guessing is best to be avoided. If we are right that is good, if we are wrong that is also good, it is only part of the costs in running a business in which we had the courage to initiate.

A trader does not have to start with $10000-100000 account and a $500 is more then enough, by risking 1% per trade and taking max 3 trades per day and exiting at the end of NA session I doubt you will lose that $500 unless you become reckless and if that is the case you know what to work on.

Having multi pairs to trade helps me to be choisy (I trade 8), I mostly take trades in the direction of strength with the use of two emas taking reversal patterns from the time of London open, but I also trade against the trend if divergence is showing with reversal, here you can use a simple indicator, macd is good, if they are backed up by a wedge, channel line overshoot, previous resistance/support or a false trendline break, the better but not necessary, TA is good but you do not want to get lost in it. The 15 or 60m TF are good but I prefer the 30.

Usually there a only one or two day in the week when market is most generous, the other days will give some small profit or same small losses.
reply later m8
 
UJ 30m

Only one trade, risked 13.2 (0.5%) made 10.

On most of the 9 pairs I trade the daily has finished with a doji bar, not generous day...... unless we faded the recent high/low on a TF not bigger than 5m which I am not trading atm due to other commitments.
 

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Well no wish to get banned fighting with some of your lurkers/nutters.
So I will be vague, how about bigger than $5k and less than $14k. 600% in 6 weeks.
I have a few accounts so not all trades went there.

Will hope to start new in Sept with 5 figs and go for a double each month for 5 months.
I was reading that thread and you mentioned sizes etc, obviously it would be a 'do not try this at home' thing and I wont be overly worried about my Sharpe ratio, lol bet that made you chuckle.

I will play around with stake sizes and likely pips a week and when to step up within a month.
Anyway nice to have an aim to go for. I am sure you can advise/comment when I get to specific lot sizes etc.

Oh well easy knowing I am bored today.
Hide my ip and I can watch the golf later.
GL all if you don't die a slow death atm.
Cheers
Please do not allow this toilet on here ;)
meanwhile over on fs thread^^^^^^^^^^^^^^^^^^^^
 
UJ 30m

Only one trade, risked 13.2 (0.5%) made 10.

On most of the 9 pairs I trade the daily has finished with a doji bar, not generous day...... unless we faded the recent high/low on a TF not bigger than 5m which I am not trading atm due to other commitments.
good discipline(y)
 
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