My Journal - Pathways to Improvement

[Forexmospherian]

Hi all,

Today was a mad day for me...
Made my Daily target this morning, but as usual wanted to get more pips (line an insane game).
Finally did completely stupid things as I stated markets were obeying to me and (of course) got a huge loss of 90 pips.
BUT I'm very proud to show that I came back to my AM results.
Have my +50 pips again
Finally made 52 + 90 + 52 positive pips in the day. :cheesy:

attached Stats and today's statement.

View attachment 203596 View attachment 203598

Have a nice WE.

R.

Hi R

First of all - I thought you were disciplined ( lol) - 90 pip loss - that could have freaked you out completely and could have had a really bad effect

However - so pleased you stayed calm and got it all back together - that really takes some doing - so big pat on the back for that

No wonder you can feel proud - I reckon if I had a 90 pip loss I would flipped etc etc - even with all my experience etc etc - it would have been like a "black swan" event etc etc

My advise is always - when "under water" by more than 5 or 7 pips - bail out - quit - forget staying in for a turn - quit and know that to get the 5 or 7 pip back is fairly easy - to try and get 90 pips back - could have taken you another day or two - inefficient and loss of time and money

Also - if it does turn you way after you have exited and all looks on again - just renter - cost only a small loss and spread - nothing in comparison to minus 10 - 20 - 50 - 90 pips ( scary)

Finally - really pleased it worked well for you

I have known of other intraday traders using different methods who have been badly affected by just one large pip loss. Imagine if you had been compounding from say 1 lot to 5 lots - to 10 lots over a few months and then losing 90 pips and $9k and a previous week or more profits in one silly trade ??

Still - count your blessings and well done on the recovery - and lets hope it does not happen again ;-)

Best Regards


F

 

[keen246]

Hi F,

Let me say that, obviously, your method works.
As far as I'm concerned, here is what I really do:
At the beginning, I was really watching the LR's but it was a real problem for me as I consider that indicators can only show you the past, so had to struggle against myself to do this.
So finally, going further with the technique understanding (because it takes time), I finally managed to put several different clues together and LRs became less important.
It's from this moment that I really started to get more pips.
IMHO, what is interesting with this method is that you finally watch some kind of mixed pattern including LRs+RS+KT+TW+PA and finally can "read" it instantly when focused enough. It's a bit like seeing thru or behind the chart and I like it.
It's putting together all the things I did before this method.
I eager to discover the next level

Concerning controversy and things, I had enough in my professional and personal life to ask for more

All the best.

Hi R,

Could please elaborate a bit more (on a chart would be great) on what you call "kind of mixed pattern"? What do you mean by that? (I hope it's not those beautiful swings at exact KT with LRs crossing nicely with a swing on the left providing S/R....that only works on hindsight).
Cheers,
keen246

 

[remulix]

Hi R

First of all - I thought you were disciplined ( lol) - 90 pip loss - that could have freaked you out completely and could have had a really bad effect

However - so pleased you stayed calm and got it all back together - that really takes some doing - so big pat on the back for that

No wonder you can feel proud - I reckon if I had a 90 pip loss I would flipped etc etc - even with all my experience etc etc - it would have been like a "black swan" event etc etc

My advise is always - when "under water" by more than 5 or 7 pips - bail out - quit - forget staying in for a turn - quit and know that to get the 5 or 7 pip back is fairly easy - to try and get 90 pips back - could have taken you another day or two - inefficient and loss of time and money

Also - if it does turn you way after you have exited and all looks on again - just renter - cost only a small loss and spread - nothing in comparison to minus 10 - 20 - 50 - 90 pips ( scary)

Finally - really pleased it worked well for you

I have known of other intraday traders using different methods who have been badly affected by just one large pip loss. Imagine if you had been compounding from say 1 lot to 5 lots - to 10 lots over a few months and then losing 90 pips and $9k and a previous week or more profits in one silly trade ??

Still - count your blessings and well done on the recovery - and lets hope it does not happen again ;-)

Best Regards


F

Sometimes I can't help doing stupid things (I'm just french you know)
R.

 

[remulix]

Hi R,

Could please elaborate a bit more (on a chart would be great) on what you call "kind of mixed pattern"? What do you mean by that? (I hope it's not those beautiful swings at exact KT with LRs crossing nicely with a swing on the left providing S/R....that only works on hindsight).
Cheers,
keen246

Watch your PM please.
R.

 

[keen246]

Watch your PM please.
R.

Thanks R for that honest reply. Eye opening.

 

[sun11]

Stop this BS!

I think we are on the same side and i for one cannot see a problem with your comments on dinos thread hence the post i made that wanted you to stay on the thread and question everything.
Re sun 11.
1-i think she is a he.
2-she/he was on the forexmorpherians private site with a fake pic
when i mentioned this on the forums the name sun 11 amazingly disappeared from the site and the details were deleted.I usually have a gut feeling about things that turns out to be right.To be honest i never saw any losing days on suns thread.
http://www.marketcalls.in/forex/forex-trading-in-india-legal-or-illegal-a-critical-analysis.html
^^interesting article

Itspossible you are bugging me too much from the beginning with same topic over and over again. Previously I didn't said much, because as you guys are senior so I was paying respect. But the fact is, give respect , get respect.

Previously you made a bad joke, saying I putted fake profile pic to lure F to get help. But fact is F is at my fathers age. So I respect him in that way.

You posted transgender man's videos & offending me about my gender constantly. I already said that I joined the other site many months after joining T2W.

About the profile picture, do you have your real profile picture in here??? Rarely people use their real picture on public forum. I'm not selling anything here. I'm just a student. Just the way you are charging me, I can charge you too...don't forget you maintain a journal too!

In the other site, its not the me only who changed the details. Other F follows did that too...why because of you guys disturbing their privacy.

You guys are like, first slap someone then says "sorry is that hurt ? My hand was itching."

Regarding Fx trading in India, its illegal or not that's debatable, there is no clear rule about it. I have seen many fx traders who trade legally not problem in that. Fx trading is illegal when you trade hard notes...or buy sell notes on street with unauthorized dealer. Alpari has a office in Mumbai. What a joke!

Lastly about loosing days, other members already pointed out. You must be ignorant to see my other threads, where F asked me about trading details & I said that I do have more than
2 years of trading experience?

Before charging someone for something, learn first.

 

[Forexmospherian]

Itspossible you are bugging me too much from the beginning with same topic over and over again. Previously I didn't said much, because as you guys are senior so I was paying respect. But the fact is, give respect , get respect.

Hi Sun

Hope you have had a nice week off from trading

I have underlined the part that I think you are "spot on" with - ie respect

"Its possible" has said he will apologise if he is wrong - and so maybe that's what he should now be doing next.

If he fails to do that - well then he should put your thread on ignore and never comment on it again.

You have missed out on a very busy last week - especially the later end of it.

Never mind though- your daily targets will always be easily to achieve in any trading conditions when you finally finish learning all about my method - which now is less than a few months away.

Looking forward to teaching you more starting after Monday 26th.

Also dont forget the clocks go back an hour on the 25th in the UK - this will effect your session times etc

Regards


F

 

[sun11]

Hi Sun

Hope you have had a nice week off from trading

I have underlined the part that I think you are "spot on" with - ie respect

"Its possible" has said he will apologise if he is wrong - and so maybe that's what he should now be doing next.

If he fails to do that - well then he should put your thread on ignore and never comment on it again.

You have missed out on a very busy last week - especially the later end of it.

Never mind though- your daily targets will always be easily to achieve in any trading conditions when you finally finish learning all about my method - which now is less than a few months away.

Looking forward to teaching you more starting after Monday 26th.

Also dont forget the clocks go back an hour on the 25th in the UK - this will effect your session times etc

Regards


F

Yes I had a nice week off. In between remulix & keen is doing great!
Sorry for this outburst.
I will start trading from Tuesday & will set up the clock.

Good day.
Regards

 

[Forexmospherian]

First Few days back this week - tips for Sun

Hi Sun

I know you have said you are starting again on Tuesday 27th - which is no problem

Why you have been away i have done a basic template that can useful as another visual aid for intraday planning

FX Intraday Trading template - The one I use as 8 FX pairs - I dont trade all 8 pairs everyday - but expect to trade anything from 3 to 6 - all depending on the day in question - ie Red News releases / Bank Holidays / Pair at important price areas etc etc

Maybe you can adapt it for just your 3 or 4 pairs and also to your own time table - whether GMT times or Eastern etc

This helps you focus on the time windows and of course at many of them you do have the opportunities for multi scalps - either correlated or against each other.

Given the choice between a set up on the EU / GU / EG / AU / EA / EJ - even if the EU as the lowest spread costs more than likely my preferences would be with the EA / EJ / GU as first priorities - as their movements are normally a lot more than the EU / EG / AU.

I need you to look more at pair correlations - like EU in sync and positively correlated with the EJ / EA and GU - and if oppositely correlated with GU - then GU is normally in sync with AU - and then opposite to the EA and UCad.

You can then look for corresponding interim S & R levels for retraces etc

I know also we need to discuss the basic time rules on interim highs and lows - that will help you on your clue's list

Take it easy Tuesday - ie new time syncs with World clock changes and normally first day back things can be strange

Other than that - have a great trading week


Regards


F

 

[remulix]

Dt

Hi F, Sun, K, ...
Daily target done.
Nothing wonderful today ... Was not really at ease in this market.


All the best.
R.

 

[Forexmospherian]

Hi F, Sun, K, ...
Daily target done.
Nothing wonderful today ... Was not really at ease in this market.
View attachment 203796

All the best.
R.

Hi R

Thanks for showing your stats - i am sure there will be many that don't believe them - simply because you are trading my method etc and so many think my results are just not possible

Anyway - I can assure you - they are all possible - a daily target of 30 or 50 or more pips a day can be made consistently - in any market conditions etc etc

Sun is back tomorrow - so more tips etc to come this week

Meanwhile keep disciplined and focused and just carry on

Well Done

Regards


F

 

[remulix]

Hi R

Thanks for showing your stats - i am sure there will be many that don't believe them - simply because you are trading my method etc and so many think my results are just not possible

Anyway - I can assure you - they are all possible - a daily target of 30 or 50 or more pips a day can be made consistently - in any market conditions etc etc

Sun is back tomorrow - so more tips etc to come this week

Meanwhile keep disciplined and focused and just carry on

Well Done

Regards


F

Well, making 20-25 pips is not very difficult.
The real problem is time.
I mean that spending the whole day making 25 pips is a bit boring but sometimes can be achieved in some minutes.

Here is the example, my favorite pairs (especially GN) finally started to act as I like and so I could get more pips in no time...



I'm sure that I could make more than 200 pips with some more training.

R.

 

[keen246]

Hi F, Sun, K, ...
Daily target done.
Nothing wonderful today ... Was not really at ease in this market.
View attachment 203796

All the best.
R.

Well done R. Very good results in my book. I wish I had that daily. Out of curiosity, how many pips is your 1%?
Cheers,
Keen246

 

[remulix]

Last stats of the day

Well here are my last stats for today.
Could not manage to make 100 pips !
Maybe tomorrow with US news...


Good evening everyone.

R.

 

[sun11]

Why you have been away i have done a basic template that can useful as another visual aid for intraday planning

Good Morning,

Thank you Forexmospherian for making the template & explaining more details about the correlations. I will add those into my notes.

But just wondering is this template is made with Excel? It is downloadable? Or you want us to make it with our time zone?

Back in during trading session.

Regards
Sun

 

[sun11]

Well here are my last stats for today.
Could not manage to make 100 pips !
Maybe tomorrow with US news...
View attachment 203804

Good evening everyone.

R.

Morning Remulix,

You are doing great.

Want to ask you one question. Do you use multi lots? or all trades on same pairs are individual with different price levels?

Regards
Sun

 

[Forexmospherian]

Morning Sun

Take it easy for few days back - ie to get back into the routine

Sorry not got that template on Excel- as copied off another template I used for previous testing - but certainly worth setting up on excel for yourself and your own FX pairs and own times etc

Speak to you later and don't forget the time changes and also Pound red news at 9 30 am UK time

Regards


F

 

[remulix]

Answers

Morning Remulix,

You are doing great.

Want to ask you one question. Do you use multi lots? or all trades on same pairs are individual with different price levels?

Regards
Sun

Good morning Sun,

As K and you are asking the same kind of question, I'm gonna answer both on your thread:
Sun-> I mostly trade only 1 pair at a time, at 10% risk or more if all clues are fitting.
I really like to trade risky but it's not very wise.

• Sometimes (quite often in fact), the market is offering several opportunities at the same time so several trades can be taken at a time.
• With trendy and wild pairs like GJ or GN, I often set several trades in a row and close them all at the end of the move, it makes tons a pips in no time.
• Last case, when a pair is ranging in between R and S, I set a straddle in the middle with more lots on the trend side; it can be very efficient but take care when it's crossing S or R...

@K -> after your explanations I understand your question like this: how many lots for 1% ?

• Well, my risk calculation is like this : (AccountFreeMargin()*(MaximumPercentageatRisk/100)/1000) (when micro lots accepted)
• Means that I calculate my risk on the actual equity and not on the capital.
• So, if I have 1000 equity, will take 0.01 lot for 1% risk. But I usually trade at 10% or more when I really feel a good trade.
• Concerning stop loss, I just set a hard stop very far from where I shall stop in case of bad trade, depending on the pair bar size and spread.
• Concerning the soft stop: I use one of my indicator to measure the mean bar size+ mean spread on x bars of the selected pair.
• ie: for EU my broker has no spread or 1 point and the commission is making a negative trade till 5-6 points are taken.
• The mean bar size of 100 bars during London session is around 3 pips.
• So my soft stop will be Mean bar size + spread; so around 30-35 points on EU.
• Of course with GJ or GN it will be far different as you are in the red zone just after clicking BUY or SELL.
• One last thing about brokers; take care, ECN does not mean NDD !

Hope I could help but be careful, some parts of my "method" may differ from F's method and I don't want to interfere.

All the best.
R.

 

[remulix]

Half day

Half day; half pips !



I'm on the right way to collect 100 today; must avoid vine abuse for lunch, but too few would not be enough :cheesy:



R.

 

[keen246]

Good morning Sun,

As K and you are asking the same kind of question, I'm gonna answer both on your thread:
Sun-> I mostly trade only 1 pair at a time, at 10% risk or more if all clues are fitting.
I really like to trade risky but it's not very wise.

• Sometimes (quite often in fact), the market is offering several opportunities at the same time so several trades can be taken at a time.
• With trendy and wild pairs like GJ or GN, I often set several trades in a row and close them all at the end of the move, it makes tons a pips in no time.
• Last case, when a pair is ranging in between R and S, I set a straddle in the middle with more lots on the trend side; it can be very efficient but take care when it's crossing S or R...

@K -> after your explanations I understand your question like this: how many lots for 1% ?

• Well, my risk calculation is like this : (AccountFreeMargin()*(MaximumPercentageatRisk/100)/1000) (when micro lots accepted)
• Means that I calculate my risk on the actual equity and not on the capital.
• So, if I have 1000 equity, will take 0.01 lot for 1% risk. But I usually trade at 10% or more when I really feel a good trade.
• Concerning stop loss, I just set a hard stop very far from where I shall stop in case of bad trade, depending on the pair bar size and spread.
• Concerning the soft stop: I use one of my indicator to measure the mean bar size+ mean spread on x bars of the selected pair.
• ie: for EU my broker has no spread or 1 point and the commission is making a negative trade till 5-6 points are taken.
• The mean bar size of 100 bars during London session is around 3 pips.
• So my soft stop will be Mean bar size + spread; so around 30-35 points on EU.
• Of course with GJ or GN it will be far different as you are in the red zone just after clicking BUY or SELL.
• One last thing about brokers; take care, ECN does not mean NDD !

Hope I could help but be careful, some parts of my "method" may differ from F's method and I don't want to interfere.

All the best.
R.

Hi R,
Thanks for your reply. Now I understand your approach. So with you having a 30-35 pips Stop loss you win/lose 1%. Then basically you’re making around 2% daily, which is pretty good.

Now I see why you trade GA. With that SL it’s possible, but with F’s method I don’t think it’s possible with a soft SL of 5 pips.

Keep up the good trading.
Cheers,
Keen246