My Journal - Pathways to Improvement

[remulix]

searching for pips ?

Good morning all,

Thanks for your explanations F.

If you are searching for fast pips, you can trade the DAX:


But forget about the money.
Wouhahahahah

R.

 

[sun11]

I hate index...its too risky.
Demo = ok
Real = Never!
Once I traded Hang Seng, -15,000 account balance in few seconds. :cheesy:

 

[remulix]

I hate index...its too risky.
Demo = ok
Real = Never!
Once I traded Hang Seng, -15,000 account balance in few seconds. :cheesy:

Yes, and with indexes you can only take big lot sizes as the broker does not allow micro lots.
***********
So Sun, are you at ease with all these new LRs ?

R.

 

[sun11]

Yes, and with indexes you can only take big lot sizes as the broker does not allow micro lots.
***********
So Sun, are you at ease with all these new LRs ?

R.

Still its 11 pips net profit. It seems all right...
But number of trade is still high. So F will not be happy with that.
Some trades were break even.
I need to crop down number of trade within 20-25.

Hope you are doing well!
Happy Trading

 

[remulix]

I just made the TPL for Stage 4 and LRs reactions are really interesting.

Let's get use to it

R.

 

[sun11]

Day 58

Total of Trade: 38
PL: 12 (Excluding commission)
Win rate: 55%
Largest win: 9
Largest loss: 6.2

I know performance is standing still. Not going forward much.
But good thing is holding the fort. Just need to beat it! MJ

 

[Forexmospherian]

Hi All

That's normal Sun - you will hit a no progress zone - might last 2 weeks or 2 months - but through every training schedule - you need to have hurdles to overcome - because if it all goes to smoothly over 3 or 6 months - you will be as they say betting the farm - and then the problems arise the day you have 7+ consecutive losses etc

The key is carrying on learning and seeing were you missed the opportunities for scalps and even partial stake trades from the LiTs areas.

This will be all new to you and therefore you will now get into a different learning zone.

I will always need to you to work on your scalp timing entries - but then the LiTs areas and bias directions will help more this next 2 - 3 months

I agree you need less trades.

As I have said - and i am sure this will happen to all new trainees - some days 1 hr and 5 scalps and I have hit daily target

Other days - bad start and need 19 scalps to hit target and 6 hrs

Anything over say 25+ trades is wasteful - unless you are achieving a 80% + win record and on the way to several hundred pips in the day.

For the 20 -50 pip targets - 10 -15 trades should easily do it over 3 to 5 hrs - and good days just 5 or 6 trades in 2 hrs

I am pleased with everyones progression - i know I need to help Keen more on scalping and entries etc but will start tomorrow with live scalp session on say basic pairs ie EU / UJ / AU etc

More to follow later - out this afternoon and back later

Regards


F

 

[keen246]

Hi, Keen if you allow I may add a suggestion.
Don't fight with one kind of pairs. EU & EJ almost sync. Diversify things.
You will notice on my statement, last day UCAD all overall loss. But I didn't forced much specially during same time or in same session. If you are loosing on Euro based pairs then its good to try other pairs. Try them back during other session.

Regards
Sun



Of course not a secret..
Look F already shared all the details..

Regards
Sun

Hi Sun,
I think your suggestion is quite relevant for I've been concentrated on only a couple of pairs correlated or inversely correlated. It seems like for this method it's better to keep scanning several pairs and take the one that provides the clearer trading opportunity.

However, my broker charges 50% more commission on crosses and the spread is almost three times as much as well. I think when you're quite experienced and make tons of pips, those cost are not much of an issue. But for our learning stage, they are important.

Cheers,
Keen246

 

[sun11]

Thank you F,
Today out now, see you all tomorrow during the live session.
Also will be posting my charts, trade setup during this week.

GN

 

[keen246]

Results for today: -46.4 Net pips. What the hell is wrong with me??

 

[remulix]

Results for today: -46.4 Net pips. What the hell is wrong with me??

Hi K,
Markets were hard today, very choppy.
I'm struggling to make some decent pips...

R.

 

[keen246]

Hi K,
Markets were hard today, very choppy.
I'm struggling to make some decent pips...

R.

Sure they've been choppy. And I entered just exactly on those periods when it goes up 8 pips and immediately -8 pips. With tight SLs is just impossible when the markets are like that.

I'm trashed...in just 40 min of trading had that huge loss.
I hope you managed to get some green pips today.

Cheers,
k

 

[remulix]

Sure they've been choppy. And I entered just exactly on those periods when it goes up 8 pips and immediately -8 pips. With tight SLs is just impossible when the markets are like that.

I'm trashed...in just 40 min of trading had that huge loss.
I hope you managed to get some green pips today.

Cheers,
k

Some posts before, Sun suggested you to trade other pairs.
I really agree with her because EJ is "hairy" (hits the sop very fast) and GU can be really a pain sometimes, especially while choppy periods.
I know that spread is higher on other pairs but sometimes it's worth.
Personally, I completely stopped to trade majors; maybe I will come back later to majors but for now, crosses are easier for me.
I made some pips (and not only with DAX ) but it's not as brilliant as usual (40 pips yet).
I will post my daily stats soon but for now as I'm not happy with my results I go on trading.



R.

 

[remulix]

Daily stats

Well, here are my daily stats.
Of course don't consider the DAX trade; Account stat argo is made for Forex so it does not count pips correctly with indexes.
75,5 pips and few money as I forgot to set the right lot quantity for this account.


Have a good evening.:cheers:
R.

 

[Forexmospherian]

Results for today: -46.4 Net pips. What the hell is wrong with me??

Hi keen

Look forward to helping you in the morning 8 am UK time onwards - on either this thread or on my journal

Unfortunately the EJ was not really the pair to trade this US early session. No problem if you are an experienced scalper - but still hard work

Compare the EJ movements over a 10 -12 hr period with the GU on 2 charts below

Now for me some pairs were easy today - but shame not the EJ

GU - easier

EJ - same period in box - not so easy

 

[Forexmospherian]

Hi K

I can see I need to assist you with your scalping - which is no problem

We need your win ratios over 65% - ideally 70% + and even though your are disciplined with your stop sizes you only had a couple of scalps over 5 pips and far too many poor or bad entries.

We will be able to do live scalping on Wednesday am - with me leading the way and for you to see if your set up is saying the same

Ideally need to know -

Who's your chart platform with - ie which broker ?

Whats your best spreads and commissions if you pay them /

What 3 quick LR settings are you using ??

At what times ( UK times ) were your losing scalps on the EJ ?

Whats your spread / commissions like on the EJ ?

Ideally any chance of seeing one of your 1 min LR charts on any pair just to see what it looks like ?

Cheers

Regards

F

Hi F,

Looking forward to having a live session to maybe pinpoint why my entries are so wrong and my Win% so bad lately.
Please look at the answers to your questions above in blue.
Thanks for you help.
Cheers,
Keen246

Thank you for answering the question Keen

First problem - for scalping - you need to use th charts from the platform you trade - if you are using other charts to the brokers platform you trade - they will not match up - can be 1 to 3 pips out throughout the day.

Lrs look ok and spreads etc not bad

I will be able to find out more and assist in the morning after 8 00 am UK time

Looking forward to it

Regards

F

 

[keen246]

Hi keen

Look forward to helping you in the morning 8 am UK time onwards - on either this thread or on my journal

Unfortunately the EJ was not really the pair to trade this US early session. No problem if you are an experienced scalper - but still hard work

Compare the EJ movements over a 10 -12 hr period with the GU on 2 charts below

Now for me some pairs were easy today - but shame not the EJ

GU - easier

EJ - same period in box - not so easy

Hi F,

Great...I'll be online at 8 UK time.
Sure EJ was nasty today. I have to learn to detect and avoid those choppy periods and move to other pairs as suggested by Sun and R.
Cheers,
K

 

[Forexmospherian]

Hi F,

Great...I'll be online at 8 UK time.
Sure EJ was nasty today. I have to learn to detect and avoid those choppy periods and move to other pairs as suggested by Sun and R.
Cheers,
K

See you in the morning - sorry its in the middle of night for you but next best times for me are 2 30 pm to 5 00 pm UK time - so guess mid morning up to lunchtime

Heres a EJ scalp just before US close

Only spotted it as i checked were price are at tonight

Its outside the TW and no KT - but nice scalp for 7 -9 pips with just a small stop needed and very nice PA and clean exit for all or part stakes

Check see if your chart similar and maybe add a 40 LR setting to other 3 settings

 

[Forexmospherian]

Hi All

Out and about and set up on on my journal if you want to start before 8 00 am

No problems - as should be here as desk until maybe 10 am this morning ( UK time ) with just a couple of coffee breaks in between

Have a good day


Regards


F

 

[sun11]

Good morning everybody.

I'm here.