My Journal - Pathways to Improvement

[Forexmospherian]

Progress is little bit of adverse right now..Hope will recover. Looks like a good spot on UJ. After lunch, will read all posts over again. Need some time to study the charts. Posted my screenshot with 3 LR , 3rd one with 37.

View attachment 195614

I will post my results at the end of the day..

I think LR 37 looks OK

You need to put your 3 Lrs now on the 3 pairs - UCad / UJ and EU

the UCad been the better set up on my full LR set up will be interesting to see how it looks on your scalping set up

Also - you are correct - it will take you a few trades ad days or even weeks just to get used to this new set up

Once you have taken 50 - 100 scalps - then it can be fine tuned if need be

 

[Forexmospherian]

hI Sun

I know you are not covering the GU - but want you to look at this chart more as its a great example of a line in the sand area for price structure

The UCad as stayed above its one this morning and also UJ the same

I dont want to jump too far ahead for now and want to keep you focused on just timing and step by step learning


Regards


F

GU

approx 15 nins or so from last comment when GU was trying below 5620 and 18

Now it dropped to 5585 - so a 30 pip fall in that approx time

I am showing the GU chart on a 1Min LR set up as it explains my LitS area and then shows how after 9 00 am was the "change time "

Perfect example

Above Lit's favours buys - below favours sells as then a bearish PS

We can scalp both ways in all areas - but the LitS is important for the session Price structure

 

[sun11]

Support becoming resistance...That's a nice example.
Ok I will put GU on the list. I didn't added GU before because of the volatility.
Never traded with so many indicators before. Mainly traded with Naked charts with S/R. So it will take some time for my eyes to understand all those lines.

 

[Forexmospherian]

Support becoming resistance...That's a nice example.
Ok I will put GU on the list. I didn't added GU before because of the volatility.
Never traded with so many indicators before. Mainly traded with Naked charts with S/R. So it will take some time for my eyes to understand all those lines.

Thats why i dont suggest you go to 9 + LRs straight away

Go with 3 for a start and then add later in the journey once we have you into time

I could trade naked with just a stopwatch / clock - but i would not be so accurate and not always see the scalps from the start

On say 5 -20 trades a day - just an extra 3 pips on say 10 good trades adds a lot to your P & L account

Step by step - but the GU was a good example of what I call Lines in the sand areas

Bullish prior to 9 00 am UK time and then bearish after then down to 1 00 pm

Now its trying a turn again

 

[sun11]

Today End of the day results: Failed to reach the daily target. But will try on next day. Some trades closed on break even. Will try fresh tomorrow.
Total trade: 28
P/L = -1 pips
Win% = 57%
account : demo

Gn.

 

[Forexmospherian]

Today End of the day results: Failed to reach the daily target. But will try on next day. Some trades closed on break even. Will try fresh tomorrow.
Total trade: 27
P/L = -11 pips
Win% = 55%
account : demo

Gn.

Hi Sun

with only a 55% win rate on 27 trades and only losing 11 pips is good

Need to know the details if possible on largest win and largest loss etc and of course if any of the 3 FX pairs gave you a better result etc etc

The analysis of your performance is important for both you - and me - i can then see your strengths and weaknesses etc

Its a case of then building on on good points and improving them - and cutting out the negative stuff.

I will finish under 16 trades today - I think over a 75% win ratio with a few great earners based on part stakes and leaving on with stops in profit

That's a maybe a month plus or so away from me trying to incorporate that into your style .

Pleased you took over 20 trades - just 5 or 10 not enough to get you into the method etc

Any more info you can share about today or this week - all the better


Regards


F

 

[sun11]

Hi Sun

with only a 55% win rate on 27 trades and only losing 11 pips is good

Need to know the details if possible on largest win and largest loss etc and of course if any of the 3 FX pairs gave you a better result etc etc

The analysis of your performance is important for both you - and me - i can then see your strengths and weaknesses etc

Its a case of then building on on good points and improving them - and cutting out the negative stuff.

I will finish under 16 trades today - I think over a 75% win ratio with a few great earners based on part stakes and leaving on with stops in profit

That's a maybe a month plus or so away from me trying to incorporate that into your style .

Pleased you took over 20 trades - just 5 or 10 not enough to get you into the method etc

Any more info you can share about today or this week - all the better


Regards


F

Hi, updated the last post. Now closing the day with -1 pip loss. Last trade was awesome.

Also uploaded the statement.


Largest profit per trade: 9.5 pips
Largest loss per trade: 6.8 pips

 

[Forexmospherian]

Hi, updated the last post. Now closing the day with -1 pip loss. Last trade was awesome.
View attachment 195652
Also uploaded the statement.
View attachment 195654

Largest profit per trade: 9.5 pips
Largest loss per trade: 6.8 pips

Excellent - well done - i know you might say no profit etc etc - but it shows me your focus and discipline etc etc

i will go through the statement and come back later with my thoughts and tips etc etc

Hope you have enjoyed it - please dont think you will have to take 20 -30 trades a day - you dont - its totally up to you when we get you successful - but would always recommend more than 5 or 7 trades over a 4 + hr session

If you had 4 good winners in a row and made 50 + pips - all in 2 hrs you stop - you are your own boss

Will come back later


Regards

 

[Forexmospherian]

Morning Sun

Checked your statement last night and was pleased to see you had been trading on all the pairs you mentioned

the timing will improve this week and dont be worried about cutting scalps at minus 3 or 4 pips if they are not going into a profit - so to get the average down under 5

With winning scalps - anything over 5 pips is OK if you can stay with them to 7 or 10 pips even better - there have been a few already this morning from after 6 00 am UK time - mainly due to the Aussie Dollar news in the Asian session

Please dont hesitate to ask more questions etc and hope you might already have some pips in the kitty off the AU / UJ / EU / GU etc

Have a good day and speak in a bit


Regards


F

 

[sun11]

Hi Forexmospherian, Good morning you too.

Starting this morning I have some losses, I was reading all post on my threads. Loss focus. I will post my end of the day results in here. If I have any questions regarding the system I will ask here too. I will observe your live thread through out the day.

So far what i observed as I use non ECN broker. Spread is getting a issue. So 5 pip SL is get caught so easily, as spread stays 2 pips on those pairs. I am trying to improve my timing so if SL stays at 3, I can still manage with 5 with the spreads.

Trying to make trade when 3 LR are crossing very close together. Watching cross overs closely & avoiding to make trade during a crossed trend (Middle of a trend).


To other members, I decided to follow him its completely my decision. Even if I get failed with it. I will not say a single word. Cause it will be my failure.
Honestly, I have lack of brain to understand sarcasm & witty jokes. What ever left I use it in trading & learning. I have no shame to admit it. Not every body is intelligent & great. At least I'm still trying & he is helping investing his valuable time, that's important.

Good day...

 

[sun11]

Some questions to ask about 3rd LR:

About Entry:
Should I enter trade only when 37 LR changes its bias?

About Exit:
Same as above? or when faster LR changes bias? (probably pull back)

 

[Forexmospherian]

Some questions to ask about 3rd LR:

About Entry:
Should I enter trade only when 37 LR changes its bias?

About Exit:
Same as above? or when faster LR changes bias? (probably pull back)

Morning Sun

For scalps enter on change of quick 2 lrs ideally in time windows around Key times

When you have all 3 LR's saying buy or sell - then stronger signal so you expect moves over 5 pips - ie 7 -15 pips etc

I will try a bit later to give you some example this morning

Been a few nice ones today

Out for about 45 mins but around a bit later

GL


Regards


F

 

[sun11]

Today I traded real bad. Its still -24 pips.
Just wanted to know something, I'm not trading in real yet. Until I get into satisfactory level with the daily targets. But even if I get into that, is there any daily loss limit like daily targets?

Regards

 

[Forexmospherian]

Today I traded real bad. Its still -24 pips.
Just wanted to know something, I'm not trading in real yet. Until I get into satisfactory level with the daily targets. But even if I get into that, is there any daily loss limit like daily targets?

Regards

Yes

normally what I do is stop if I have 3 losses in a row that add up over 10 pips and have a break for 30 -60+ mins

If 3 losses under 10 pips then will carry on after 30 mins but try and break my run by even taking early profit on the next trade - at any level

I have had several days when I have over 5 losses in a day - but scattered with maybe 7 - 10 or 15 wins in between

If I had 3 losses in a row - stopped and then after an hour had another 3 losses in a row - I would wait until another session or at least 2 hrs +

Dont worry at all atm - as we have got to get your reading PA at the coalface improved along with timing

I remember Major Magnum going through early scalp periods taking 20 + scalps over a few hours and getting over 70% of the wrong

This was because I wanted him to exit as soon as possible if price at entry went over 4 or 5 pips against him.

Ideally with a 1 pips spread a 3 pip pullback is OK - but no more - you will have entries when price does not go over 2 pips against you and then makes you 5 or 10 pips +.

Its so important you exit asap - even if then goes your way - take the hit -

Its all part of the disciplines you will get used too

Regards

F

 

[itspossible]

^Re lack of brain-I disagree-I plunged right in on a live account for my first year and lost 5 grand.at least you are on a demo.stay on the demo and try and work it out-best of luck-if you fail dont worry-

 

[Forexmospherian]

^Re lack of brain-I disagree-I plunged right in on a live account for my first year and lost 5 grand.at least you are on a demo.stay on the demo and try and work it out-best of luck-if you fail dont worry-

Agree IP

best to try and get the knack on demo and then go onto a very small live account so for you to get used to the emotions of playing with real money

I reckon Sun will need at least a month on demo to improve timings / price readings / disciplines etc - then another few months on a micro account aiming for say $10 or $20 dollar win days and losses kept as low as possible

As you say - if you go to large too soon - it can really scar you - did me for 6 months - step by step and most importantly staying in control

Regards


F

 

[Forexmospherian]

UCad - 11 00 am scalp buy

Hi Sun

Did you catch this one at any time after 11 00 am

This is my full LR 1 Min Chart


I know its got a lot more LRs but even your 3 should have had you buying

 

[Forexmospherian]

Will be interesting to see how your UCad chart looked at 11 00 am

 

[sun11]

Hi F,
Sorry I missed that trade at 11:00. After a long loss, I decided to take a break for a while. So I missed it during the time. But EURUSD trade was on. Made 7 pips.

Here is my UCAD chart.

In my chart it was not yet crossing over with faster 2 LRs.

I understand you said about your post earlier. I will do demo for a month. Lets see how this weeks goes. Still need to clear few things about the systems.

 

[Forexmospherian]

Hi F,
Sorry I missed that trade at 11:00. After a long loss, I decided to take a break for a while. So I missed it during the time. But EURUSD trade was on. Made 7 pips.

Here is my UCAD chart.
View attachment 195736
In my chart it was not yet crossing over with faster 2 LRs.

I understand you said about your post earlier. I will do demo for a month. Lets see how this weeks goes. Still need to clear few things about the systems.

No problem

In fact I was looking on your chart and can see the one you have marked was another scalp buy from 12 39 pm and then a repeat at 12 51 from same level - ie the interim supports at 3118/20 area

I was had popped out so not here to take either of them - but will post my chart to you can see if your 3 LRs are at least matching my fast ones

This chart gives some great UCad scalps from after 11 00 am UK time

With regards to entries - try and be in with 2 to 4 pips of a interim low or high level - eventually you will get within 1 to 2 pips - but like anything - it takes lots of practice and improved skill levels to get there - and even then you will never nail every scalp at the exact price and time to the second of the turn ( maybe Major M does nowadays

UCad over 2 hrs - 5 scalps possible and easy 50 pips - with no stop needed over 3 -4 pips

See time and levels etc