My Journal - Pathways to Improvement

[Forexmospherian]

These are my actual results for today: - 45.6 Net Pips.
LRs crossing and tight stops at its best.
Cheers,
K

Hi K

Spotted a few things not helping

You seem to maybe be averaging down ? - certainly added to losing scalps - but of course no luck adding to a few of your winning trades

Take one entry with one scalp atm - and wait until its up 5 + pips before adding on a pullback that does not breach entry

Can you maybe only do one scalp and either exit if it goes against entry and take profit if it goes over 5 pips. That would have helped today as over 6 or 7 bad scalps basically on just 2 trades that make your win ratio look bad and increase you losing pips numbers

Must see you cross overs now on your charts - thinking your platform need different setting

Cheers K


Regards


F

 

[keen246]

Hi K

WD on tight stops etc - good discipline on that - but have to say don't know what you are doing wrong on entries etc as you win ratio is just too low .

I will check out your timing - am I right to say your broker time is what 4 or 5 hrs ahead of UK present time ?

You have done more trades - which is good - in fact a lot in just over 2 hrs - but something is not right and we will get to the bottom of it

I am thinking your LR settings on fast 3 have got to be wrong - most work well from 7 -9 as quickest - then 12 -14 and maybe anything from 22 to 30 for the third LR

What are yours atm ? and can we see a screenshot on any pair of a cross - so i can check out ?

Thanks Keen - we will get there


Regards

F

Hi F,

Thanks for the time to have a look at the results. Certainly I tried to increase the number of trades today, but the number of losing pips skyrocketed.

My time is NY time, so UK time is 5 hours ahead. I don't think the problem is the LRs...I have check against your charts and MM's and they are the same..7,11, 21.
I attached a couple of examples of the typical losing traders anybody genuinely trading your system can relate to. Those are typical losing trades where even if you got the direction right, the movements of the price up and down makes you lose the trade if you follow strictly the tight stop loss criteria.

I don't think it's possible to have the uncanny ability to enter at market just before price makes a quick move on your direction without undergoing any drawdown, so I'm thinking that one of the undisclosed secrets of the method is entering with stop/limit orders (sort of bracketing). Only that way one wouldn't have possibly any DD.

Cheers,
Keen246

 

[Forexmospherian]

Hi F,

Thanks for the time to have a look at the results. Certainly I tried to increase the number of trades today, but the number of losing pips skyrocketed.

My time is NY time, so UK time is 5 hours ahead. I don't think the problem is the LRs...I have check against your charts and MM's and they are the same..7,11, 21.
I attached a couple of examples of the typical losing traders anybody genuinely trading your system can relate to. Those are typical losing trades where even if you got the direction right, the movements of the price up and down makes you lose the trade if you follow strictly the tight stop loss criteria.

I don't think it's possible to have the uncanny ability to enter at market just before price makes a quick move on your direction without undergoing any drawdown, so I'm thinking that one of the undisclosed secrets of the method is entering with stop/limit orders (sort of bracketing). Only that way one wouldn't have possibly any DD.

Cheers,
Keen246

Hi K

Now you have shown your chart I can see the problem right away ;-)

First example is the scalp buy is not 9 51 am your time - but actually after 10 03 and 10 09 am

Now see I would not have bought when you bought there as- the PA and the rest of the Lrs said carrying on selling.

Next point - you dont wait if you enter for it to go 5 or 7 pips against you when the quickest LR goes over the price again even if there was not cross. Its down to knowing whats false and whats OK - that's why you will never get 100% accuracy - but to get 65 to 85% accuracy on 50 or 100 trades is certainly possible - but of course easier for traders well experienced with the method - ie after say 3 or 4 months of the 6 month + to learn the method

I can turn you around to have better results during the next 2 weeks - no problem

Looking forward to helping you more

One last point you do need a broker with spread and commissions to possible to make profits after 3 + pips

Many traders say what the point of say 4 pip or 7 pips of profit ?

Well you dont have to be on 5 or 10 lot size per pip - even 5 pips at 1 lot or 2 lots is a nice reward for 3 to 10 mins of work ;-)

Hope to be able to assist you more in your session times next 2 weeks etc

Regards

F

 

[Forexmospherian]

Hi F,

Thanks for the time to have a look at the results. Certainly I tried to increase the number of trades today, but the number of losing pips skyrocketed.

My time is NY time, so UK time is 5 hours ahead. I don't think the problem is the LRs...I have check against your charts and MM's and they are the same..7,11, 21.
I attached a couple of examples of the typical losing traders anybody genuinely trading your system can relate to. Those are typical losing trades where even if you got the direction right, the movements of the price up and down makes you lose the trade if you follow strictly the tight stop loss criteria.

I don't think it's possible to have the uncanny ability to enter at market just before price makes a quick move on your direction without undergoing any drawdown, so I'm thinking that one of the undisclosed secrets of the method is entering with stop/limit orders (sort of bracketing). Only that way one wouldn't have possibly any DD.

Cheers,
Keen246

Hi K

Looking at your second chart - I can now understand more of why you are losing

But

I am worried that you cannot get out of your losers for as you mentioned - "6 -8" pips - but to catch winner you do it with only 1 to 3 pips - are you saying the few winners do make 5 + pips but by the time I get out - its just 1 pip ??

Scalping is all about speed and timing and as you know - we are ideally after 7 to 25 pips moves - not 1 to 5 pip moves - but its far better to exit with 2 pips only profit than 5 or 7 pips loss.

You are one clicking in and out - please see how long it takes over say next 20 trades to exit - it should be easily under 1 second and slippage is normally a 2 way affair with good brokers - but if you are getting slipped too often - change broker and make sure its ECN

More points to help tomorrow - but of the examples you have shown - its important you notice the HH's and HL's and opposites on every 1 min candle and as soon as one changes - be ready if need be for change

Regards

F

 

[xiaoci168]

Hello, Sun11
It's glad to see that you've made great progress in the past few months.It seems that you have find the right method to trade. And I've noticed that the commission you pay for each 0.01 lot is much lower than what I pay.I live in china and I am trading forex with an account opened in Forex(GCAP). I am being charged 0.2-0.5 US dollar for each 0.01 lot. I would like to know that do you pay the commission in GBP or in USD? And on what platform are you trading?
Good luck.

 

[sun11]

Hello, Sun11
It's glad to see that you've made great progress in the past few months.It seems that you have find the right method to trade. And I've noticed that the commission you pay for each 0.01 lot is much lower than what I pay.I live in china and I am trading forex with an account opened in Forex(GCAP). I am being charged 0.2-0.5 US dollar for each 0.01 lot. I would like to know that do you pay the commission in GBP or in USD? And on what platform are you trading?
Good luck.

Hi xiaoci168,

Thank you for posting here.
I trade with Tickmill. Because they provide very low deposit ECN account. In my case 0.01 lot = 0.10 cent per pip.

If you are paying 0.2 to 0.5 us dollar for each 0.01 lot. Means in your case 0.01 = $1 per pip. Then rate is not that bad isn't it? I think i pay same. Mine varies 0.03-0.06 cent on 0.10 cent pips including volatile pairs like GA, GJ.

This is my spread during Asian session. I use MT4.


Regards
Sun

 

[sun11]

Hi Sun

Its around London Close time in UK and so late were you are - but hope you left a partial stake on GA - ideally maybe with a trailing stop if you have not been about for say 3 hrs or so

So far in US sessions its made 1451.

In the future you will have to plan about leaving a partial stake on with stop in profit

You then dont have to worry as risk covered etc.

I have had many over the last few years stay in profit for days and weeks and even nearly 4 months once with a result of 1000 pips. Even if just 10% of normal stake - then it still adds up as you go live and slowly grow.

Any partial for me over 150 pips is basically an extra full days profit - extra cream on the cake

Please feel free to try and post a few LiTs areas tomorrow if you can - any time UK wise from say 5 30 am to 7 00am on my journal . Please dont worry if they are out or not accurate - or even just 2 or 3 pairs - I will be able to point out any errors later in the day

I will pop in later on in the day - but this week will not always be around from say 6 am to 9 30 am

Stay focused - disciplined and calm and keep up your excellent progress

Regards


F

Thank you F for the tips. I think i can keep my trade open for 2-3 hours with trailed sl. No problem with that. Just need to target pretty big. Long term Support & Resistance might help.

Yes, I will post my Lits. Honestly i don't know how to calculate them. I only have an idea, but not fully sure. But I will still try.

Regards

 

[sun11]

Morning Keen,

If you permit then I can share some of my view about your last two screenshot. I'm not expert. So please keep patience with me.

I reposted your chart. Please have a look.
Pardon if I talked too much..I know during that very moment. We generally lost our focus. We need to practice our mind & eyes in that way, so that we can spot things.

Also when you got loss you can always retry later.




Regards

 

[NickBk]

Morning Keen,

If you permit then I can share some of my view about your last two screenshot. I'm not expert. So please keep patience with me.

I reposted your chart. Please have a look.
Pardon if I talked too much..I know during that very moment. We generally lost our focus. We need to practice our mind & eyes in that way, so that we can spot things.

Also when you got loss you can always retry later.

View attachment 205334
View attachment 205336

Regards

Good job on making that clearer Sun, great understanding and using some other things to look for confirmation.
I see you can only do well with such observations.
GL

 

[sun11]

Good job on making that clearer Sun, great understanding and using some other things to look for confirmation.
I see you can only do well with such observations.
GL

Thank you NickBk

Happy Trading...

 

[xiaoci168]

Hi xiaoci168,

Thank you for posting here.
I trade with Tickmill. Because they provide very low deposit ECN account. In my case 0.01 lot = 0.10 cent per pip.

If you are paying 0.2 to 0.5 us dollar for each 0.01 lot. Means in your case 0.01 = $1 per pip. Then rate is not that bad isn't it? I think i pay same. Mine varies 0.03-0.06 cent on 0.10 cent pips including volatile pairs like GA, GJ.

This is my spread during Asian session. I use MT4.
View attachment 205330

Regards
Sun

Hi,Sun
Thank you for replying me.
From the spread screenshot attached in your reply, I know that the my spreads are literally much higher than yours. This fact certainly increases my trading cost.
It does not matter when I am trading in small position. But it will be considerable if I begin to trade with more money in the future. So I guess I should open an account Tickmill as you have done to get lower spread. Thank you for the information.
And here is my spread during europe session right now. The spread is awfully high compares to yours.


regards

 

[sun11]

Hi,Sun
Thank you for replying me.
From the spread screenshot attached in your reply, I know that the my spreads are literally much higher than yours. This fact certainly increases my trading cost.
It does not matter when I am trading in small position. But it will be considerable if I begin to trade with more money in the future. So I guess I should open an account Tickmill as you have done to get lower spread. Thank you for the information.
And here is my spread during europe session right now. The spread is awfully high compares to yours.
View attachment 205366

regards

Well, GCAP seems like a big company listed in NYSE. I guess tickmill is not that big. But they are FSA regulated. You can talk to your broker to get lower rate. If they could provide. You know bargaining part.

Regards

 

[keen246]

Morning Keen,

If you permit then I can share some of my view about your last two screenshot. I'm not expert. So please keep patience with me.

I reposted your chart. Please have a look.
Pardon if I talked too much..I know during that very moment. We generally lost our focus. We need to practice our mind & eyes in that way, so that we can spot things.

Also when you got loss you can always retry later.

View attachment 205334
View attachment 205336

Regards

Hi Sun,

Thanks for your feedback on the charts I posted yesterday.

I posted them to show F the typical "ideal" entries on real time, which happen to be losers on hindsight. Those entries at the exact swing which goes immediately your way without any DD and give you 20 pips in 4 minutes, only happen on hindsight. That was my point. I think you can relate to that experience.

Keep up the good trading.
Cheers,
Keen246

 

[keen246]

My results Nov 10-2015

My Results for today: -24.7 Net Pips
I'm demo trading taking 6 pips as 1% of the capital, so today would be -4%. Ouchh!

Cheers,
K

 

[NickBk]

My Results for today: -24.7 Net Pips
I'm demo trading taking 6 pips as 1% of the capital, so today would be -4%. Ouchh!

Cheers,
K

You seem to be proud of this.

Well done!

 

[keen246]

You seem to be proud of this.

Well done!

No....I just show my REAL results and not imaginary ones. I'm not trying to fool anybody here making up unrealistic results claiming hundred of pips. Should I not disclose my results or make up I'm making tons of pips just because I get negative actual results? Is that your advice? Well...I'm not that kind of person.

Not everyone is so gifted and successful as you are. Good for you! You can make hundreds of "pips". You're my hero!

 

[keen246]

No I actually believe from your last few posts that you are making lots of unsubtle assertions.
Who do you believe is doing hindsight trades? You mentioned ''I posted them to show F the typical "ideal" entries on real time, which happen to be losers on hindsight'' So can you elaborate on that?
The -4% ouch is what?
I think you are a disser with no intention to learn and a wish to fail, or you have extremely limited brain power, or more than likely both.
Done writing to you.
GL

"...you have extremely limited brain power.." As I said Mr. Soros...sorry Nick, I wish I was as talented as you are. Sorry you find my results insulting for your expertise level but those are the REALITY of my trading.
So, in your winner mindset, the 95% of people who loses on the markets are dissers and are trying hard to fail? Well, it seems like you're not that bright and have a bit of stupidity after all. Don't worry...that happens to all geniuses.

And please, please write to me...I'd love to learn from your greatness.

 

[Forexmospherian]

My Results for today: -24.7 Net Pips
I'm demo trading taking 6 pips as 1% of the capital, so today would be -4%. Ouchh!

Cheers,
K

Hi K

Thanks again for sharing you results like Sun / Remulix / Dave and Shacau and MM who do on my journal thread.

Also noticed the other point you mentioned to Sun - so appreciate I need to try harder and help you more - although it might not be this week

You win ratios atm range from 25 / 30% to say 50%. We need 65% + to carry on

Now I average on batches of 100 trades between a poor 61 % low and high 87% high - so as a mean average 70 -75% is certainly possible in REAL TIME - as trading on a Live account as to be in REAL TIME - it cannot be hindsight

So that means at an average 72% say - Major M as managed to achieve a lot higher - but forget that on 100 trades I will get say 28 losses on that win ratio

I might get a few 3 or 4 consecutive losses - and similar I get sometimes 15 to 25 winners in a row - but the main point is I have losses and try and keep them under 3 -5 pips if i can.

But this the important part

Some of my 72 winners - will only be for 3 to 7 pips - - majority ie over 50% will be over 7 pips and then at least 10 + will make 25 pips +

The 10 + that make over 25 + pips out of 100 trades will be the ones you imagine after be hindsight - but they are not - Sun /MM / NVP / Remulix and Shacau and even Dave will all tell you - yes I have caught a 25+ pipper off just 5 pip stop

I think you think its impossible - and therefore its a negative and not helping your progression

With out getting over 60% win ratios on tight stops - then ongoing my method might only be break even or even a loss method - get 65 -70% + and 10% of your trades making good pips - total different ball game - then your results are incredible.

Please let me know what you think you are doing wrong ?

Regards

F

 

[remulix]

What is written on that thread is sometimes incredible

Hi F,
Sorry to be a bit absent lately, I had to code and do my job (must earn some money sometimes).
I will be back normally next week and will seriously try to apply (100%) your method.
LRs are really interesting indicators, reacting fast with quite few lagging.
They are very good to be coded into robots and are giving nice results.

Could be interesting in some weeks/months to make a competition in between a LR robot and SSS manual method
What do you think about it ?

Have a nice evening everyone (you too NickBk )

 

[itspossible]

My Results for today: -24.7 Net Pips
I'm demo trading taking 6 pips as 1% of the capital, so today would be -4%. Ouchh!

Cheers,
K

Ive had that a few times on a real account.3 times from memory-800 quid loss x 3 on a 20k account.i took the losses immediately and just cut the position.Its a hard knock but you can bounce back.you just learn from each heavy loss-best to do it on a demo first.how long have you been trading.