Geovanni412:


Your problem is simple..

On gbpchf, eurcad ...you were trading countertrend, and rather than scalping, you decided to swing.

If market has not broken daily or weekly or 12h lows, any sell move you are taking is likely to fail within a couple of days.

Well, what I can't say is if my decision was wrong or right. I have a strategy I am testing and I want to stick to that. There are certain ranges I expect price to hit base on history and it doesn't have anything to do with trend as there are reversals in every trend. It's still a Beta phase. What I am testing is not based on conventional knowledge. It's based on discoveries made while looking at the chart for years. I am not going to complicate it by bringing in unnecessary analysis that doesn't change nothing. People who make those analysis you mentioned still hit SL. I want my trading to be as simple as a primary 2 exam.
The tweak I suggested is the only thing I will add to the test and see what the result will be.

Cashhy11:
You didn't explain in full details like this in the previous post. If you did. I wouldn't have made a suggestion against it. Fire on boss.

No worries. You are actually right with what you said. For a verified strategy, making changes its not necessary if the failure is for a while. Just that for this strategy I am still working on it.

pipfisher:

Well, what I can't say is if my decision was wrong or right. I have a strategy I am testing and I want to stick to that. There are certain ranges I expect price to hit base on history and it doesn't have anything to do with trend as there are reversals in every trend. It's still a Beta phase. What I am testing is not based on conventional knowledge. It's based on discoveries made while looking at the chart for years. I am not going to complicate it by bringing in unnecessary analysis that doesn't change nothing. People who make those analysis you mentioned still hit SL. I want my trading to be as simple as a primary 2 exam.
The tweak I suggested is the only thing I will add to the test and see what the result will be.

Do whatever works for you.

BeginnerTrader:
To be fearful no bad atimes oo, I wish I had that attribute. I was 6% up on my live account, boom I started to risk 1.5% . Now I'm in DD now.

Chai, I need beat you. No bi you supposed make that kind mistake - na me and I mean it.

But, nothing spoil sha. You got there before, you'll get there again. One day (step) at a time. Cheers!

zedegit:



Which lotsize you been dey use get 6%? How you take get DD after getting 6%?

Check am well you no use good risk. Your own nobi fear.

You are absolutely right on that. No bi fear

samfelly:


You are absolutely right on that. No bi fear

The fear I dey talk be say. You take time analyze well everywhere good but when you come enter trade small move wey no even near your stoploss you fear close trade.


Next 5 hours, BOOM trade don pass your target. E dey happen.

zedegit:


The fear I dey talk be say. You take time analyze well everywhere good but when you come enter trade small move wey no even near your stoploss you fear close trade.


Next 5 hours, BOOM trade don pass your target. E dey happen.

Yeah, this exact fear dey with many of us here (me included).

This fear handle me to the extent that I shouted out here that henceforth I'll be doing Set n Forget 😃.

One other funny thing wey come happen with that my set n forget was that the day I'll now actually take a trade and set n forget till TP, the market no go come go TP area, at all .

Very bombastical element of a market 😂😂

Geovanni412:


Do whatever works for you.

Yeah, that is what I am trying to do

I’m trying a short position on btc!

For the next 4/7 hours ==>

Let me see if I can grab liquidity at 60k

We can see that we are still in a downtrend!
This is a 4hr time frame

I need vawulence

Donsheddy:
I need vawulence

I dey with you on this. Peace can wait ✋️ till Monday

Donsheddy:


What's so difficult in uploading pics....
Simple i create a demo account send you the details...
Show me what you can do

Ohk then do it

You know you can pick one position and hold it till month end and make 10%.

Aremolekunowo:
Greetings to every one in the house expecially the Agba traders here @ peteregwu, cashhy 11, gabson, samfelly, donsheddy,, Abham, davigle, pipfisher,etc.
On my 5k and 10k funded next account update, I was buying GJ and UJ pairs was on a very good profits up to 3.6% at around 2am on Friday was feeling very good I just decided to leave the trades running till London open before closing them,
Only to check my trades around 3.30am behold there was mad volatility on the market to the downside evey where was red and I almost lost the two accounts. It was down to minus 3 percent and I thought I have even lost it.
I managed to reduce the DD.
Same thing happened around 2 pm the pairs went down again with mad volatility clearing all the SL.
But now I managed the 10k account to BE and 5k still in 2%DD. with same EJ, GJ and UJ pairs.
May God help us in this business 🙏
Even some time when I think I got my analysis very right I still loose trades and some analysis I didn't even do well I see them going the right way. It is well ooooo.

You see that Jpy pair is a devil and drawdown legend if caught at the wrong side. I learned heavily during Boss Infofirst competition last year. I hate erratic instrument, and that Jpy pair is the worst out there. Ordinary Jpy yellow folder news sef can spike up to 100pips and above in 1min. Imagine trading 1% of your account with 20pips SL. That's daily drawdowns already.

If I would advise, I'd say just stick to one JPY pair, trading EJ, UJ and GJ all at once is synonymous to putting all those lots combined on just one of them. GJ is the most volatile amongst the three, so just pick it alone and let go of the rest. Having 3 opened positions simultaneously on JPY pairs is suicide if caught on the wrong side. It's even worse if you're trading like that on a prop account.

Seems you are a swing trader, you're good to go with Jpy, just reduce the the simultaneous positions you have on them.
Look at the screenshots below and see how similar they all looked. I drew those lines on Monday and only adjusted after CPI on Thursday, and see how they are all rejecting at supports on Friday. So taking them all because they gave signal is just similar to taking just one of them and put all the lots on it.

Donsheddy:


What's so difficult in uploading pics....
Simple i create a demo account send you the details...
Show me what you can do

Ok then let do it

Eth is in a down trend in the 4hr time frame, first time it reached that high in the line, it dropped!
It doesn’t have a good structure enough to take off that line in the next 5 hours, so we’ll take a sell position with an expiry time… if it doesn’t happen before 5 pm… we exit
We just want to grab liquidity as fast as we can!

We are going in heavy on any risk we take with specified stop loss in all

Luada:

A failed trader, have you seen my trades, and a successful prop firm trader will not be battling DD the last time I checked

Did you just fire shots at an innocent passer-by?

samfelly:


Yeah, this exact fear dey with many of us here (me included).

This fear handle me to the extent that I shouted out here that henceforth I'll be doing Set n Forget 😃.

One other funny wey come happen with that my set n forget was that the day I'll now actually take a trade and set n forget till TP, the market no go come go TP area, at all .

Very bombastical element of a market 😂😂

I think if forex Stoplosses works like the betting method, we'd all be better off. In the sense that once you enter a position and state down your SL, it should be deducted straight away from your balance, so it's either you're paid if it hits your TP or not paid because it hit your SL. I think Trading will be easier that way.

That's why they always say only risk what you can lose, because we forex traders really hate that word. Football bettors knows this and accept but we don't. Set and forget is the way to go if you want to achieve something similar to such a mindset too and not tamper with your trades after entering.

We put a SL because we believe it can go against us, but same us are not mentally ready once it starts going our SL direction. Most trade will always show patterns we are wrong, some will even turn your Short position to support and use it to target your SL lol.

What I do is, once i enter trade, I don't monitor it on the lower time frame I entered from but on the higher timeframe I spotted it. So if it wants to go against me, I will watch from there. Imagine getting a trade signal on 4hr timeframe for example, before another 4hr candles form, there will definitely be ups and downs, watching the ups and downs unfolds on a 5mins timeframe will drive you nuts and make you doubt your position and see why you shouldn't have entered the trade.

But on the 4hr timeframe, the trade is still going as planned, you were just disturbing yourself on the lower timeframe with the headaches on the lower timeframe. Forex is designed to confuse us, it must not be clear to us for them to make money off us, it must always look as if it could go up or down at any point in time. So if you're not sure of your stand, you close early even when in profits and close early before it goes your way too.

Image below was a backtest I ran sometime last month on AudNzd and the result was massive. Very simple method and it's what I also use to day trade currently. Support and resistance on Weekly and check for rejections candles around the zones on the daily. Most of them were around 1:3rr or slightly higher. In the image below, that's 4wins and 2losses, should easily give up to 10% if risking 1% per trade since a win has covered for the two losses already and even added additional 1r.

If I wanna start swinging it, I know well enough not to tamper with checking lower timeframes like 1hr etc to know if to close or not but the daily only. And also make use of set and forget, TP or SL. I've just been busy with prop account that I don't have time to properly forward test the swinging method live to know what my win rate would be if all taking all the pairs into consideration.

Cashhy11:
I think if forex Stoplosses works like the betting method, we'd all be better off. In the sense that once you enter a position and state down your SL, it should be deducted straight away from your balance, so it's either you're paid if it hits your TP or not paid because it hit your SL. I think Trading will be easier that way.

That's why they always say only risk what you can lose, because we forex traders really hate that word. Football bettors knows this and accept but we don't. Set and forget is the way to go if you want to achieve something similar to such a mindset too and not tamper with your trades after entering.

We put a SL because we believe it can go against us, but same us are not mentally ready once it starts going our SL direction. Most trade will always show patterns we are wrong, some will even turn your Short position to support and use it to target your SL lol.

What I do is, once i enter trade, I don't monitor it on the lower time frame I entered from but on the higher timeframe I spotted it. So if it wants to go against me, I will watch from there. Imagine getting a trade signal on 4hr timeframe for example, before another 4hr candles form, there will definitely be ups and downs, watching the ups and downs unfolds on a 5mins timeframe will drive you nuts and make you doubt your position and see why you shouldn't have entered the trade.

But on the 4hr timeframe, the trade is still going as planned, you were just disturbing yourself on the lower timeframe with the headaches on the lower timeframe. Forex is designed to confuse us, it must not be clear to us for them to make money off us, it must always look as if it could go up or down at any point in time. So if you're not sure of your stand, you close early even when in profits and close early before it goes your way too.

Image below was a backtest I ran sometime last month on AudNzd and the result was massive. Very simple method and it's what I also use to day trade currently. Support and resistance on Weekly and check for rejections candles around the zones on the daily. Most of them were around 1:3rr or slightly higher. In the image below, that's 4wins and 2losses, should easily give up to 10% if risking 1% per trade since a win has covered for the two losses already and even added additional 1r.

If I wanna start swinging it, I know well enough not to tamper with checking lower timeframes like 1hr etc to know if to close or not but the daily only. And also make use of set and forget, TP or SL. I've just been busy with prop account that I don't have time to properly forward test the swinging method live to know what my win rate would be if all taking all the pairs into consideration.

This is absolutely impressive. The write-up carry.

Collect small (enough) from prop then load up personal account and keep working this out. I love it.

Modified: Wait a sec, you have a Premium TV?

Alexas58:
I’m trying a short position on btc!

For the next 4/7 hours ==>

Let me see if I can grab liquidity at 60k

We can see that we are still in a downtrend!
This is a 4hr time frame

On 1.5rr on short position

samfelly:


This is absolutely impressive. The write-up carry.

Collect small (enough) from prop then load up personal account and keep working this out. I love it.

Modified: Wait a sec, you have a Premium TV?

I once did. It's expired and didn't bother renewing.

Luadaxau:

On 1.5rr on short position

Yes
I’m using a tight stop loss
But I don’t understand by what you mean by 1.5rr

I can let that trade run if I get in
That’s if my position opens ….

But check my entries
I used an expiration
So it might close pretty soon
If it don’t work out
Or I extend my time 2-3 hours

Cashhy11:
I once did. It's expired and didn't bother renewing.

Okay. I asked cos I saw the replay feature in the screenshot

PraiseGod4u, e don tey o. Hope you dey well?

samfelly:


Okay. I asked cos I saw the replay feature in the screenshot

Alright. But the normal Tradingview replay feature also works but only on Monthly, weekly and daily timeframes. It will cancel if you go lower than the daily.

BeginnerTrader:
See what someone received, na this kind motivation we need. Swing traders are aliens 👽

This trader na 'ritualist' (pro)

Cashhy11:
Alright. But the normal Tradingview replay feature also works but only on Monthly, weekly and daily timeframes. It will cancel if you go lower than the daily.

Really? I didn't know about this. I thought it's only for premium user. Is it on pc 🖥 only, cos I never see am before for mobile app version?