My journey towards consistency

[gftrader32]

The are of F trading

 

[gftrader32]

short eu au at 3 00

 

[gftrader32]

short eu au at 3 00

eu +4.4 out

 

[gftrader32]

eu +4.4 out

au +6.3 out

 

[gftrader32]

nice scalp buy 2 51 on uj

 

[NickBk]

well done gft you seem to be making progress.
GL

 

[gftrader32]

well done gft you seem to be making progress.
GL

i am no way there yet...still 50% win...


so far 13 trades, 6 winners, 6 loses and one 0

 

[gftrader32]

i am no way there yet...still 50% win...


so far 13 trades, 6 winners, 6 loses and one 0

just to make it clear...i am not looking for breaking records etc...


i am looking for consistency day in day out

 

[gftrader32]

short uj 3 30

 

[gftrader32]

short uj 3 30

0

 

[KostasSt]

i am no way there yet...still 50% win...


so far 13 trades, 6 winners, 6 loses and one 0

But still good job on that 50pip trade. I am having a 50% win rate but struggling to run my profit and it seems like I am better at running my losers
I need to do something with that...

 

[Forexmospherian]

But still good job on that 50pip trade. I am having a 50% win rate but struggling to run my profit and it seems like I am better at running my losers
I need to do something with that...

its a very difficult trade off

If you have your stop really tight at say 2 -4 pips - then it might mean until you have done a few thousand scalps - you end up with a lower win ratio - ie under 60%

If you have say stops at 10 -15 pips - you can still have a 75% win ratio - BUT lose money..

So keep practicing entries - allow the 3-5 pip entry stops - but if you only see it go your way say 3-4 pips - and then pullback - dont let it go back and stop you out.

With regards to letting trades turn into swings with stops in profit - if you look at any pair on a normal day - there will be only say 3-6 trades worth taking for over say 20 + pips

So if you take 20 trades - then maybe then only a small percentage of your winners make the 20 + pips

But if you take 20 trade - have say 7 losses of 4 pips - ie minus 28 and then on your 13 winners have 3 over 20 + pips and have 5 only 3 pips and another 5 only 8 pips - you end up with over 85 pips - and thats a great tally

If you only take say 5 -7 trades then you either have to be very lucky - and catch good runners or end up maybe with only break even or say 15 -25 pips

It's a number game - but you need the numbers in your favour - very few gurus or mentors talk about this - its as though they dont think its possible

I can assure you it is


Regards


F

 

[KostasSt]

its a very difficult trade off

If you have your stop really tight at say 2 -4 pips - then it might mean until you have done a few thousand scalps - you end up with a lower win ratio - ie under 60%

If you have say stops at 10 -15 pips - you can still have a 75% win ratio - BUT lose money..

So keep practicing entries - allow the 3-5 pip entry stops - but if you only see it go your way say 3-4 pips - and then pullback - dont let it go back and stop you out.

With regards to letting trades turn into swings with stops in profit - if you look at any pair on a normal day - there will be only say 3-6 trades worth taking for over say 20 + pips

So if you take 20 trades - then maybe then only a small percentage of your winners make the 20 + pips

But if you take 20 trade - have say 7 losses of 4 pips - ie minus 28 and then on your 13 winners have 3 over 20 + pips and have 5 only 3 pips and another 5 only 8 pips - you end up with over 85 pips - and thats a great tally

If you only take say 5 -7 trades then you either have to be very lucky - and catch good runners or end up maybe with only break even or say 15 -25 pips

It's a number game - but you need the numbers in your favour - very few gurus or mentors talk about this - its as though they dont think its possible

I can assure you it is


Regards


F

Couldnt agree more. I dont let my self to take more then 5 pip stop. However i stuggle to get more then 5 pips on my trades. I took 19 trades today 10 loosers and 9 winner and only 2 winners are more then 5 pips but not more then 6 The problem is when i have +5 pips and i saw a red candle or something negative i take my profits. I know i need to run my winners but its very hard to see profits go away and sometime end up in a negative position. However had one trade recently where i took 50% off +4.8 pips then 25% 5.1 pips and the remainder 25% has been stopped out with 0.3 pip. I think i should do this more often, at least i bank some profit leave some to run and can not end up losing.

 

[gftrader32]

long eu and ej at 6 14

 

[gftrader32]

long eu and ej at 6 14

-2.6
-2.4

 

[gftrader32]

long ej 6 17

 

[gftrader32]

long ej 6 17

+10.1 so far...

wanted to jump back in eu but didn't

 

[gftrader32]

+10.1 so far...

wanted to jump back in eu but didn't

moved stop to 73

 

[gftrader32]

moved stop to 73

+15.2 so far

 

[gftrader32]

+15.2 so far

stopped out +6.2