K.I.S.S. Trading GBP/USD

Good Afternoon All,

First of all I hope you are all having a profitable day.

Last night I took 2 additional trades, for those who are interested, one failed, whilst the other came to fruition. I had to head out for a few drinks, and a few became too many, thus did not get a chance to post those with the pip count shown, and since I can't show a pip count on a chart, I shall disregard posting about those trades, as it's best to go on charts with pip counts seen evidently, rather than ones word.

Last night I was wondering about going in at 2% risk, and woke up this morning with the same thought, and there was no reason why not to, so I decided thus would be the case, and if anything, I would only need half my usual pips and still make a fantastic return.

First trade, as seen below, the reasoning was if price hits the dotted line, and retraces, we are short from a double bottom. Price went through, and I was not fully awake, but fully greedy, and decided to short, well that's what I thought I was doing, unfortunately I put in a buy order, :mad::mad::mad:, and by the time I realized, I am closing a trade with a 11.2 pip loss(-4.5% loss).

£ 22.5.15A.png

I'm very mad at myself, but being mad can wait till later, and so I composed myself, and waited for the next opportunity.

The next trade, as seen below was taken as a level of resistance followed by support was seen, a double top then followed, thus trade taken, price retraced, but didn't take out the double top, and then capitulated in my direction(if price had broke through double top, trade would have been closed), out for +23.2 pips(+9%).

£ 22.5.15B.png

The last trade, as seen below was a straightforward short of a double top for +18.6 pips(+7.4%)

£ 22.5.15C.png

Naturally, it's been a very profitable week, premiership wages, without a smoking, or drinking ban(albeit, near the lower rung of the premiership, but next week I shall be on 2% risk hopefully, so I can move up the wages table. (y)).

total for the day is +30 pips(+12% for the day). Pip could, and should have been higher, but I was aware of looking at the P&L column a lot today, when a satisfactory level was reached, I pulled out.

One thing I would say is that there is probably more information within the T2W site, that caters for all, to the point where you can save yourself so much money, by not going on most of the pointless courses out there, sure it may take a little digging around, but it will save you money, and even worse, that feeling of being ripped off.

There is no big secret, no need to pay, there's no secret smuggled out of Nazi Germany, no holy grail, all it takes is hard work, and patience. "What you put in, is what you get out", and hard work seldom goes unrewarded.

All thoughts, comments, and questions welcome.

Have an amazing day trading Y'all.

Best
John.
 
Hi John

First of all - Well Done

From what you are saying - I am sure my main Capital account I trade from - ( i have 3 with 2 brokers )is not as large as yours - but as you know I trade normally with approx 5 pip stops - but stay well under 1 % stakes and even as low as 0 6% - with my 30% trades then only being around 0 2 to 0 3 % of my capital

I know I take many more trades than you - and have been very fortunate not to have over 7 losses in a row for over 5 years.

Most days I have 1 to 3 losses bad days 4 -6 losses - and than might be on say 15 -20 intraday trades.

Win ratios are from a low 62% to a high 87% on batches of 100 trades - but even with an average say 70% win ratio - you can - especially if you lose focus etc etc - have a bad run and have anything from 7 to 10 bad trades consecutively.

Now imagine - if that happens to me - I will be down anything from say 4% to a maximum worst case scenario of 7% - all maybe with in a few hours or so.

If you go with 2% on say 5 pip stops and had a shocker on morning - you could end up down 10 to 20% - all within say 4 - 6 hrs.

Now I appreciate you might say - I will stop for a few hrs after 3 or 4 bad consecutive losses - ( I do that - and refocus etc etc ) but if you ploughed on thinking - this next one will win - then you can then enter the bad psycho period - ie logic goes out the window etc

I cheat if I have over 3 losses in a row - I wait and cherry pick my next scalp and exit with any profit - ie 2 or 4 pips - anything to break the "loss" period and negative vibes etc etc

Your hard work over the years watching "paint dry" on the charts is paying off - GL for the future and be careful with the 2% stakes etc on a big account

Regards

F
 
Hi John

First of all - Well Done

From what you are saying - I am sure my main Capital account I trade from - ( i have 3 with 2 brokers )is not as large as yours - but as you know I trade normally with approx 5 pip stops - but stay well under 1 % stakes and even as low as 0 6% - with my 30% trades then only being around 0 2 to 0 3 % of my capital

I know I take many more trades than you - and have been very fortunate not to have over 7 losses in a row for over 5 years.

Most days I have 1 to 3 losses bad days 4 -6 losses - and than might be on say 15 -20 intraday trades.

Win ratios are from a low 62% to a high 87% on batches of 100 trades - but even with an average say 70% win ratio - you can - especially if you lose focus etc etc - have a bad run and have anything from 7 to 10 bad trades consecutively.

Now imagine - if that happens to me - I will be down anything from say 4% to a maximum worst case scenario of 7% - all maybe with in a few hours or so.

If you go with 2% on say 5 pip stops and had a shocker on morning - you could end up down 10 to 20% - all within say 4 - 6 hrs.

Now I appreciate you might say - I will stop for a few hrs after 3 or 4 bad consecutive losses - ( I do that - and refocus etc etc ) but if you ploughed on thinking - this next one will win - then you can then enter the bad psycho period - ie logic goes out the window etc

I cheat if I have over 3 losses in a row - I wait and cherry pick my next scalp and exit with any profit - ie 2 or 4 pips - anything to break the "loss" period and negative vibes etc etc

Your hard work over the years watching "paint dry" on the charts is paying off - GL for the future and be careful with the 2% stakes etc on a big account

Regards

F

Good Afternoon F,

Thank you for your kind words, and advice.

Well I certainly do not know, nor wish to speculate what you have, or anyone else has for that matter, as we are both fighting the same enemy, yet with different ammunitions, and battle strategies.

I'm sure there are a few people on here with larger accounts than myself, the same way I'm sure there are a lot more profitable traders gracing these forums.

Yes you most definitely take more trades than me, a lot more, and I know I would be more profitable if I took more, as sometimes I'll take one trade, and I'm done for the day.

One thing I do know, and that is I definitely leave a lot of money on the table, as I always do an end of day review to see what was available, and obviously, I have not had a losing day for a very long time.

I understand where your coming from about increasing my percentage risk, and my reasoning is.

What do I want to achieve? consistent 5 figure profit days.

How can this be done? more trades, or double risk.

More trades equal too much concentration with screen time on a 1 min time frame, that's not do able over a consistently long period, so that's out, therefore the only answer is, increase percentage risk, and 2% is nothing in the grand scheme of things even if the monetary equivalent may seem high to some.

As for losses, they really do not bother me, however silly mistakes due to lack of concentration, really wind me up, however my only saving grace is knowing my simple "edge" has a high percentage of wins, so I am a winner.

Hard work definitely pays well my good man, and even to this day, if I have not gone away over the weekend, I still spend at least 10 hours over the weekend going over the Cable charts, studying them, trying to see what can be improved.

There is absolutely no better educator than hours at the screens.

Have an amazing day F, I know I have.;)

Good luck, and have a great weekend mate. (y)

Best
John.
 
Good morning to all you Pip procuring patrons,

First of all, I hope you have all had a pleasant weekend.(y)

I must admit, I awoke up a lot later than I had hoped, but just like my trading, my office hours are purely discretionary. :LOL:

Naturally, it has been a fantastic morning, as I had envisaged, and I've certainly smashed it out of the park again.

Today was even sweeter, as I was in at 2% risk.

As seen on the chart below the first trade was a long following S&R. Price moved in my direction for about 12 pips, but I'm after a 1:5 R:R, thus I was unperturbed as price came around, and closed me out for scratch.

£ 26.5.15A.png

The second trade taken, as seen from the chart below, again was identification of S&R, then price went long, formed a triple top, yet I was unable to get in then, however since that was missed, I was then looking for confirmation signs of more capitulation, as per the S&R, thus a short was taken. Now this trade did capitulate 25 pips 1:5 R:R, however the greed of watching the P&L column made me wish, and hope for more capitulation, and as per sod's law, price reversed, and stopped me out for scratch. :mad::mad::mad:

£ 26.5.15B.png

The third trade below was again taken based around S&R, however I did not wait for a 1:5 R:R, as I just wanted to get some pips in the bank, so pulled out at just over 1:2 R:R(11.3 pips/4.5%).

£ 26.5.15C.png

The last trade I took was a short from a double top, after a little dilly dallying, price capitulated, and i was out for 1:6 R:R (30.5 pips/12%).

£ 26.5.15D.png

Thus the total for the day is 42.1 pips(16.5%).

I'm sure there will be people knocking such a simple approach, but I truly am testament to it working very well.

There is no ulterior agenda from myself, as, obviously, everything can be seen in black and white, there's no talking in cyphers, or dangling a mystic carrot only for you to be led to another site where maybe there are site sponsors who pay for advertisement, and require a certain amount of traffic to be seen. No showing of a million pips yet when seen as a daily average falls to less than 20, as the agenda of others, I wish not to speculate on.

All I will say is there is all the information you require to become a successful trader with in this site.

I would also go against the grain whereby people look at this thread, and are happy for me, yet wish to trade, but do not. This thread is purely for an insight into a simple approach that works very well, and to inspire others.

Do not be happy that I am doing well, as that does not pay your bills, or make you a successful trader, but try to work hard to emulate my greatness.

And for those that need a video to be convinced, to you Sir's I present the following, enjoy.


Have a fantastic day trading Y'all, as I may be done for the rest of the week.

Best
John
 
Nice work Mr Fox and very interesting thread ;) Hopefully this thread continues for a while and doesn't get hijacked by trolls, haters or naabs begging for money with a paper-cup instead of getting some basic FX education ;)
 
Nice work Mr Fox and very interesting thread ;) Hopefully this thread continues for a while and doesn't get hijacked by trolls, haters or naabs begging for money with a paper-cup instead of getting some basic FX education ;)

Good Afternoon Dearlife1989,

Thank you for your kind words, I shall continue to post on everyday that I trade.:cool:

I hope you've had/are having a profitable day also.

Best
John.
 
Great posts Mr Fox, too many various threads to keep up with, but this thread caught my attention last week, very positive stuff.

I look in on Forexmosherian's mad house from time to time, he has some fantastic trading insights if you know what to look for.
My mad ramblings are usually on the Dax thread, but I'll chip in here & there when I see what I personally see as a good thread, & this is just that in my eyes !

I have seriously thought about going over to cable, but I have spent so much time slowly learning the movement of the Dax.......well, you know what that is like from FX's comment about you watching paint dry for years, done the time & all that !! The Dax often has enormous intraday movement, the trick, just like any instrument, is jumping on board without getting smacked about too much.

Good luck & good to see you are doing well, sounds like you trade with size, so obviously you are very tuned into the potential nightmare this can present.......& great rewards !

I am very much of the same opinion re people believing if someones good fortune is true or not, I personally take all threads & posts with a pinch of salt, while at the same time searching the good ones, you kind of get a feel for the genuine, or at the very least, good points raised.

The trouble with this game is everybody knows best, we all have access to "other peoples opinions" 24/7 seen it, done it, going over the same old ground etc etc........well from what I've witnessed since starting out on this little journey, that is all trading is & always has been... rinse repeat, rinse repeat (alright, not simple, but...) !!!

I'm the first to question everything, but If we spend our whole time only thinking it's all BS, we simply stagnate.

Good thread & good luck for tomorrow
 
Good Afternoon All,

First of all, I hope you have all had/are having a profitable day trading.

Tuesday evening was quite a late night out, thus Wednesday was a day off from trading, and even today i really wasn't in the mood to trade, however I convinced myself to trade.

As seen below, the first trade was an S&R trade, break long was taken, price moved up circa 23 pips, however I'm only interested in 25 pips or nothing, the trade reversed, and stopped me out for 1.2 pips.

£ 28.5.15 A.png

The next trade below was what i call a WTFHT "what the fork hero trade", no reasoning behind it, just a tight stopped hero trade. I got stopped out for -0.2 pips.

£ 28.5.15 B.png

The next trade below was also a WTFHT, price capitulated 15 pips my way, but again i was stopped out for +0.2. I appreciate that these trades should not be taken, however I can safely say that I'm quite in tune with how I trade, and more importantly how Cable moves,thus i know what i can try, and get away with it.

£ 28.5.15 C.png

At this point I was really not feeling the markets, and should have closed up for the day. However I took another, and as seen below it was taken from a double bottom, subsequent bars confirmed more level of support, but I was wrong, and I got stopped out. Rules were followed, and sometimes trades showing all the right signs can go wrong, and that's just the way it is.

£ 28.5.15 d.png

Now I am needing to trade some more, not out of any other reason apart from, I refuse to accept, and refuse to have a day where a profit is not made. I have a mentality of "no profitless days", my risk management is on point, my edge is the best out there, and it has a proven track record of delivering what I require.

So another trade was taken, and as seen below it came to fruition. A double top was missed, however the earlier level of support which I had assumed was a strong long level on the previous trade was broken, thus confirming a short was on, and the trade was taken. the SL was zero'd and I just waited till a satisfactory mental target was reached.

£ 28.5.15 E.png

Total for the day is 40.6 pips(+16%).

Well it's been a good day trading, and I sincerely hope all you have had a good day too.

Best
John.
 
Good Afternoon All,

I woke up later than expected, and decided to trade for a few hours.

I only took on trade which was a break of S&R levels.

Now you may ask why the double top, which became a triple top was not taken, and the simple answer is, I was not at my desk before, and logged on before 09.20.

Since it was missed, it was time to look for the next available opportunity, and that was a preemptive S&R break taken with a tight stop.

£ 29.5.15.png

Total for the day is another consistent 40.2 pips(16%), and that is me done for the week.

Have a great day trading Y'all.

Best
John.
 
I had a lovely Lebanese takeout, and the country might be suffering from geopolitical turmoil, but by jove their warak inab, and Kabsah lamb are truly delectable.

With a belly full of good food, and a head full of invincibility I looked at the charts and with US GDP news coming out I decided to place another trade. The devil does make work for idle hands.

I took the below trade(WTFHT) with no good reasoning behind it, but just having a feeling. Unfortunately I got smashed out of the market.

£ 29.5.15 AF(A).png

Reeling from my mistake, my mind went on tilt, and revenge trading was on my mind, and in quick succession to the last trade, the trade below, again a WTFHT was taken, and again I was smashed out the market.

£ 29.5.15 AF(B).png

Now I'm wondering the land of hindsight cursing myself for taking the trades, so now I had to take a step back, reevaluate what I did, and take stock.

I have just lost circa +8% of my profits, and now I have 2 choices, either call it a day, still up with a very good return, or take another trade, this time with rules stringently adhered to, and see where I end up.

If the latter route is taken, then I have 4 trades with tight stops to take, and if they all go wrong, I leave the day for scratch.

I decided to throw caution to the wind, and go for it.

The below trade was taken as a strong support level was identified, the trade was taken, and it then broke through another strong level, thus keeping me in the trade, and i decided to pull out at 20.5 pips. Now I have made back what I lost, but still was just under my original trading target of 40 pips by a margin of -0.6 pips.

£ 29.5.15 AF(C).png

Now this may seem a good time to quit, but being under my daily target by -0.6 pips would really annoy my OCD, so I decided to take another trade.

The trade below was take because a good level of S&R was identified, and a long trade was taken. Within 2 minutes my SL was zero'd, so now I'm in a free trade, then as price rose, my SL was moved up to +0.6 pips, so whatever happens now I am back at my daily target. A few moments later my SL was again moved up an additional +0.3 pips, this was done so I have made more from the day than I had originally made, even if it was by only +0.1 of a pip. Price ascended quite quickly, so now I have to decide what is a satisfactory target to pull out on, and it was decided an additional 10 pips(4%) would put me at 20% for the day, and as soon as that was reached I pulled out.

£ 29.5.15 AF(D).png

Total for the day is 50.3 pips(20%)

I appreciate that my style of trading may be very unconventional, and some may mock my decisions of when, and to where to move my SL, or the reasons of when to pull out of a trade, but I truly believe my consistent profits mean I flourish in a chaotic marketplace.

I am definitely done for the weekend, and soon it's time to get ready, and head out for some drinkypoos.

Have an amazing weekend all, I know i will.


Best
John.
 
I appreciate i do not post often, and I doubt that will change in the future, as my only priority when trading is to have a profitable day, after that i am free to enjoy the rest of the day.

However I will post a few charts now and then with explanations of why I took a trade.

It may seem like teaching Granny to suck eggs for the seasoned profitable traders, thus this thread is more aimed at people looking at a different style, that may enhance their trading.

I only trade Cable, on a 1 min time frame, and the only indicator I use is a horizontal line.

View attachment 190418

I was at my computer for 06.50, and looking at the charts from 06.40 I thought maybe we would be having a long day, however this was just a thought, as no empirical technical evidence was proving my thought.

Then from 07.00 the market started moving down, so now i am thinking maybe we will be having a down day, again this was just a thought as no evidence to prove this was made available(one of the hardest things for me to have over come is being quick to change my mind on direction, sometimes in the past all counter evidence was ignored,as I wanted to be right in my directional analysis, however losing money on a trade is quick to teach you otherwise).

A dotted white line was drawn showing support, followed by resistance, then support again, thus notifying me that the only evidence I have to hand is for a short trade. I jumped in early with a tight stop knowing if i get stopped out, 5 pips is not the end of the world, in the grand scheme of things.

Price broke through at 07.58, so now i am thinking about any possible outcomes that may mean I was wrong, and a long trade was on instead.

the solid white line showed a double bottom, and now i am thinking, I may be wrong, however, for this to be so, I thought the white dotted line must be broken to the up side, and if that was the case, I would close the trade before my stop is hit, maybe with a loss of 3 pips.

However price hit the white dotted line, proving resistance again and went short. Price then broke through the solid white line, and capitulated enough for me to know I was in a short trade.

A 1:5 R:R was achieved quite quickly, and I decided to hold on to the trade, a 1:10 R:R was hit withing 30 mins, and i decided to hold on, price reversed, but not enough to worry me, as I knew I could move my stop to break-even and not lose anything on the trade.

I decided to pull out when 1:11(55.1 pips)R:R was reached, for no technical reason at all, but just thought that was enough, and that is me done for the day.

I appreciate that every day isn't going to be this straight forward, and a method may be simple in principal can be hard to execute, but I'm a firm believer in the law of 10,000hrs, and I would say I have put many a hour at the charts.

Feel free to ask any questions.

Best
John.[/QUOTE

What do you mean by the law of the 10.000hrs ?
 
I appreciate i do not post often, and I doubt that will change in the future, as my only priority when trading is to have a profitable day, after that i am free to enjoy the rest of the day.

However I will post a few charts now and then with explanations of why I took a trade.

It may seem like teaching Granny to suck eggs for the seasoned profitable traders, thus this thread is more aimed at people looking at a different style, that may enhance their trading.

I only trade Cable, on a 1 min time frame, and the only indicator I use is a horizontal line.

View attachment 190418

I was at my computer for 06.50, and looking at the charts from 06.40 I thought maybe we would be having a long day, however this was just a thought, as no empirical technical evidence was proving my thought.

Then from 07.00 the market started moving down, so now i am thinking maybe we will be having a down day, again this was just a thought as no evidence to prove this was made available(one of the hardest things for me to have over come is being quick to change my mind on direction, sometimes in the past all counter evidence was ignored,as I wanted to be right in my directional analysis, however losing money on a trade is quick to teach you otherwise).

A dotted white line was drawn showing support, followed by resistance, then support again, thus notifying me that the only evidence I have to hand is for a short trade. I jumped in early with a tight stop knowing if i get stopped out, 5 pips is not the end of the world, in the grand scheme of things.

Price broke through at 07.58, so now i am thinking about any possible outcomes that may mean I was wrong, and a long trade was on instead.

the solid white line showed a double bottom, and now i am thinking, I may be wrong, however, for this to be so, I thought the white dotted line must be broken to the up side, and if that was the case, I would close the trade before my stop is hit, maybe with a loss of 3 pips.

However price hit the white dotted line, proving resistance again and went short. Price then broke through the solid white line, and capitulated enough for me to know I was in a short trade.

A 1:5 R:R was achieved quite quickly, and I decided to hold on to the trade, a 1:10 R:R was hit withing 30 mins, and i decided to hold on, price reversed, but not enough to worry me, as I knew I could move my stop to break-even and not lose anything on the trade.

I decided to pull out when 1:11(55.1 pips)R:R was reached, for no technical reason at all, but just thought that was enough, and that is me done for the day.

I appreciate that every day isn't going to be this straight forward, and a method may be simple in principal can be hard to execute, but I'm a firm believer in the law of 10,000hrs, and I would say I have put many a hour at the charts.

Feel free to ask any questions.

Best
John.[/QUOTE

What do you mean by the law of the 10.000hrs ?

Good Afternoon @sunset1,

The law of 10,000 hrs is basically meaning, the more practice, and studying you put into any endeavor, is what is really needed to become proficient in a pursuit of your choosing.

With hard work, dedication, and a whole lot of patience, you will have a greater chance of success.

We aren't going away this weekend, and it's a lovely day, yet here I am sitting at my work station looking at the charts, as we speak. I'm going over the whole of last week, taking screenshots of every trade that was available, making notes, as the more I see, the more an action becomes a learned behavior, and I shall be putting in, or hoping to put in circa 5 hours tomorrow at the screens as well.

Yes I could be out enjoying myself, but bettering myself as a trader is more of a priority, as that is what pays for the lifestyle that I'm accustomed too.

As someone once said "The harder I work, the luckier I get".

P.S. I shall be out again tonight, as I am a firm believer in work hard, play hard too.

Have a pleasant weekend, and please feel free to ask questions.

Best
John.
 
Great thread please keep it up always amazing to read about a highly skilled pro in this business

Thank you for the kind words @cmmichaels.

I will keep this thread going, however next week I may not be trading, as I have other commitments I may have to fulfill.

I was hoping that there would have been more questions/more interaction from people whom wished to learn/contribute to this basic approach, however as you can appreciate, everyone on here is too successful already, and if a chart does not have all the bells, and whistles attached, then it simply must not work.

I appreciate it may be amazing for you to read this thread, but I promise you one thing, if you can work hard at improving yourself as a trader, then emulating success, is far more rewarding, intellectually, and financially. It may take a lot of hard work, but the rewards are most definitely worth it.

As for me being a highly skilled pro, I would beg to differ. I know I have a lot of areas that I must improve on, even if some improvements are in very small increments, there are some that need a little more work. Identifying the issues is the easy bit, trying to improve oneself is the hard work, but it must be, and shall be done.

I have been very fortunate to have had some great help from a forum member in the past, who helped me through a certain issue, and he asked for nothing in return, and to him I am eternally grateful, thus it is only fair i give a little back myself.

Have a good weekend.

Best
John
 
Good Afternoon all.

I hope you've all had a pleasant weekend, and I sincerely hope you are having a great day trading.

I have quite a busy schedule this week, and slipping in a few hours here and there is all I will be able to manage, alas if I am at my work station, and opportunities are seen, trades shall be taken.

The first trade seen below was a WTFHT, and although price moved in my direction for circa 16 pips, I stuck with my confirmation bias, and ended up being stopped out for -5.1 pips(-2%).

£ 1.6.15A.png

The next trade seen below was taken quickly, as support was broken, and I jumped in. Price quickly capitulated, and then I decided to check why(manufacturing PMI, I guess I should have checked the news calender this am... oops). I decided to await for my daily target to be hit, and it did, but greed got the better of me, thus I had to wait a while longer for my target to be hit. My target was 45.1 pips, as I had to clear the loss of the previous trade, and still give me my 40 pips I require. I got stopped out at 45 pips on the nose.

£ 1.6.15B.png

As seen below I got 0.5 pips. I closed the trade as conflicting evidence was seen.

£ 1.6.15C.png

I took another 6 trades, 3 losses, and 3 wins, and made an additional few pips.

I need to rush out thus can't post trade breakdowns, so I shall just post pip count of the rest.

£ 1.6.15 TOTAL FOR THE DAY.png

total for the day is 51.7 pips(+20.68%)

As a trader I know I have many failings that need improvement, however all who read this, please use your grey matter, and with all that you read, try and take the positives, and discard my failings.

The way I trade is governed by past success, this success over time has reaffirmed to me that whatever i do, however simple the process it, naturally, works very well for me, as my daily targets are hit 9/10.

Have a great day trading y'all, and all comments, and questions are welcomed.

Best
John
 
I popped back home around 18.00 for an hour, and managed to take a quick scalp for an extra few pips. 4.7 pips may not sound like much, but it did add an extra 2% to my daily total.

£ 1.6.15 EXTRA SCALP.png

Total for the day 56.4 pips(+22.5%).

Please excuse the lack of charts for the latter trades, but I have had an in, and out day today, alas one shall make more of an effort to get those posted in the future.

Feeling a little tipsy, so time for bed.

Best
John.
 
I popped back home around 18.00 for an hour, and managed to take a quick scalp for an extra few pips. 4.7 pips may not sound like much, but it did add an extra 2% to my daily total.

View attachment 191122

Total for the day 56.4 pips(+22.5%).

Please excuse the lack of charts for the latter trades, but I have had an in, and out day today, alas one shall make more of an effort to get those posted in the future.

Feeling a little tipsy, so time for bed.

Best
John.

Thanks for the P/L table. I homed in on your losses because I wanted to compare with mine. I need to improve in that area. I took one yesterday that cost me -13.

Yesterday was a net breakeven day for me, On Friday, when I started to take notice of your "intolerant to losses" type of trading, I netted +45.

I like the way you stay with one pair. I try to watch 5-6 and, really, I should not do that. For one thing, I'm too old for the concentration needed.

A refreshing thread. Thank you.
 
Good Morning Splitlink,

Thank you for your kind words.

Congratulations on your +45 pips, and even a breakeven day is better than a loss day.

Having an intolerance to losses is more of a frame of mind that one has to get into. However the one thing to remember is, a winning frame of mind is nothing if you do not have a winning strategy. A winning strategy is nothing more than just consistency.

I feel it's all horses for courses on how many pairs people trade, but I certainly have tried, and love trading the Dax, it has always been fruitful hunting, but unfortunately I cannot concentrate on a 1 min time frame over more than one pair, thus I just go in with more weight, on one instrument.

I hope you have a profitable day trading today.

If you have any questions, please don't hesitate to ask.

Best
John
 
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