Best Thread Live Trading and General Chat Lounge

[wackypete2]

snoozefest.
No trades.
Catch everyone tomorrow!

Peter

 

[Lord Flasheart]

Morning all

Had to re short nzd
short at .8029 sl .16 pips

lost 15 pips on last trade

 

[Lord Flasheart]

same chart,same trade,sometimes ive sold up to 4 times from the same line,before i get a runner or a break up

 

[splashy]

The price is now hugging the trendline after the initial rejection which prompted my trade. Still, the trendline originated before xmas and has had a few bounces so should be quite strong. Have tightened the stop a couple of pips now that we're on the trendline.
I don't usually leave things overnight but there is one of those lovely rounded tops forming which are usually lucrative for me so i'll make an exception here and see what happens.
Kiss of death, i know....

Line held. stop at b/e.

 

[Lord Flasheart]

Morning all

Had to re short nzd
short at .8029 sl .16 pips

lost 15 pips on last trade

taken 1/2 off at +16,rest to b/e need a run down now

 

[Vaco]

EJ out -43
GBP out + 5

 

[Lord Flasheart]

how are the results so far vaco,you mentioned you have taken something like 30 trades with this method

 

[Vaco]

how are the results so far vaco,you mentioned you have taken something like 30 trades with this method

dec was breakeven but i did not trade once the schools broke up and there were some trades against the trend in there as well whilst I found my feet and established my rules.

After todays loss i'm up 125 pips from 25 trades.

win rate 52% with 49 pip ave winner but that includes the breakeven trades taken at +1 to +5

I have had 6 such trades. if you take them out my win rate sits at 37% with ave winner 86 pips.

I'm happy with the results so far, but to be fair it does not take much to please me, all I want is consistant returns month after month and minimal drawdown.


I'm happy trading this up to 5% risk per trade (although prefer 3-4%)

Method is simple just like your trendlines i'm basicly trading the daily chart through a 4h view.

25 trades in 2 months not everyones cup of tea but for me its better then 100 trades and -125 pips.

 

[Lord Flasheart]

dec was breakeven but i did not trade once the schools broke up and there were some trades against the trend in there as well whilst I found my feet and established my rules.

After todays loss i'm up 125 pips from 25 trades.

win rate 52% with 49 pip ave winner but that includes the breakeven trades taken at +1 to +5

I have had 6 such trades. if you take them out my win rate sits at 37% with ave winner 86 pips.

I'm happy with the results so far, but to be fair it does not take much to please me, all I want is consistant returns month after month and minimal drawdown.


I'm happy trading this up to 5% risk per trade (although prefer 3-4%)

Method is simple just like your trendlines i'm basicly trading the daily chart through a 4h view.

25 trades in 2 months not everyones cup of tea but for me its better then 100 trades and -125 pips.

sounds good. The only problems I can see with it are the discipline and the drawdown factor. Its boring and may be subject to a biggish drawdown. You may remember old mas method I was using. It worked well but was subject to a drawdown of 300 pips which took me 2 months to get back so the averages went right down. I guess you can adjust stakes etc to make a smoother curve in time.How many markets are you looking at

 

[Vaco]

sounds good. The only problems I can see with it are the discipline and the drawdown factor. Its boring and may be subject to a biggish drawdown. You may remember old mas method I was using. It worked well but was subject to a drawdown of 300 pips which took me 2 months to get back so the averages went right down. I guess you can adjust stakes etc to make a smoother curve in time.How many markets are you looking at

just the two markets EJ and Cable.

I guess 300 pip drawdown is only 7 losing trades in a row so yes that will be a hard pill to take.

What makes your current method less likely to have such a drawdown, is it that you close half quickly or because you move to BE sharpish.

(just had a thought) you said you were down over 100 pips in jan so far so not too far off from a largish drawdown similar to old Ma's

 

[Lord Flasheart]

just the two markets EJ and Cable.

I guess 300 pip drawdown is only 7 losing trades in a row so yes that will be a hard pill to take.

What makes your current method less likely to have such a drawdown, is it that you close half quickly or because you move to BE sharpish.

(just had a thought) you said you were down over 100 pips in jan so far so not too far off from a largish drawdown similar to old Ma's

all correct points I guess,my stops are generally tighter than old mas and there are more opportunities with the way I now trade. im currently on a drawdown of 200 pips. There seems to be more profits pip wise and I do vary my stakes as I beleive I have the edge

 

[Lord Flasheart]

taken 1/2 off at +16,rest to b/e need a run down now

2nd 1/2 stopped at b/e may re enter

 

[Lord Flasheart]

short nzd at .8033 sl .8045 dont need more than a 12 pip stop as if this breaks line has probably broken

 

[wackypete2]

How's this for some price action. Wiped out stops on both sides of the market. Whipped & sawed!
eurjpy 5m chart

Peter

 

[Vaco]

short ej and cable 98.17 & 5361

 

[Vaco]

cable touched my sell zone and closed below

Ej failed to break yesterdays high also looked a good short.

 

[Lord Flasheart]

How's this for some price action. Wiped out stops on both sides of the market. Whipped & sawed!
eurjpy 5m chart

Peter

cruel,hopefully its a clear out for vacos trade

 

[Lord Flasheart]

short nzd at .8033 sl .8045 dont need more than a 12 pip stop as if this breaks line has probably broken

-12 x 2

 

[Mr X]

Hi,

Have to go out

Moved sl on gbp/jpy back to 118.47

Placed offer on gbp/usd at 1.5396, 60 pip sl, 0.5% risk adding to open position.

Greece talks coming to an agreement?, hence the push up in euro?

 

[Mr X]

Some nice levels close by, but don't want to get too exposed.