DislikedI enter after the 5M pull back and bought on the dip/ new trend upIgnored
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trading is simple - trading is easy 43 replies
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DislikedI've historically` had really bad mondays so I chose to sit today out. Huge move up nice trades NYIgnored
DislikedThat's inaccurate. For the record, "myfxbook," includes Oanda as one of the brokers which they interface. (Oanda has been fully adapted to their site for at least nine months.) Otherwise I agree that utilizing the myfxbook resource is a professional means to verify and metrically dissect your actual trading results.
Speaking of trading, I like your method, newyear498. A first that I can truly say was "mine" involved adapting the HA's (for trend) and Bollinger Bands (for T/P & S/L placement) on multiple time-frames. It was fairly simple and...Ignored
DislikedI've still got a couple hitches in my swing.
1. Mondays huge move up which I deliberatelty sat out made me stubbornly refuse to sell during Tuesdays big move down. I made a few short trades late in the day for a profit and ended -28 for the day.
2. I rode todays follow through for 75 pips but only netted 21 for the day. The 9-11 period was stuck in a tight range which is always tough and on top of the usual mistakes it adds up.
I find that I'm either immediately in profit or dead wrong and thinking about moving my stop to 7 or even 6 pips....Ignored
Mistakes I make when I'm over-confident
Trading isn't glamorous. I wake up every morning and need to make the exact same decisions that made money the previous day.
The past week I've tightened my stop to 7 pips. This is for two reasons:
Looking at my screen shots for the last two weeks I can find only one instance where a 10 pip stop resulted in a winner. All other winning trades were still winners with only a 7 pip stop.
Often an ideal entry long is also an ideal entry short. I find it very difficult to reverse direction while in a trade (Manage mode). Seven pips gets me out of a loser sooner and back into Asses mode where I can either switch direction or enter again in same direction which I've done often resulting in winning trades. I need to be careful to not pile loss after loss trading the same decision point as can happen during tight volatile ranges or very quite periods. Consider trading a decision point only twice if they are both losses or quitting for the day.
Goals
Here's todays trade for 48 pips. I calculate my pip totals based on 2 lots. First lot was +10 pips, 2nd was +38 My losses are double the size of my wins so a 7 pip stop is actually a total loss of 14 pips. The totals above and in my trading log reflect this.
DislikedDidn't want to leave this thread dead so I'll post my weekend journal entry
Trading
I have never felt more confident in my trading. Finally, things seem to be turning around as evidenced by 6 of 7 days profitable, with a...Ignored
DislikedThanks for posting and I appreciate you looking out to prevent this "dead thread" lol
I'd like to know what kept you out in the first/left chart you posted.. what prevented you entering the first move away from M3Ignored
DislikedDidn't want to leave this thread dead so I'll post my weekend journal entry
Trading
I have never felt more confident in my trading. Finally, things seem to be turning around as evidenced by 6 of 7 days profitable, with a...Ignored