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[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.