I was eager to place a brief entry on EURUSD but was too soon as crossover only just happened. It may have succeeded if I'd let it run to another day (not certain exactly where stop was), but my opinion was it was a lousy trade and price was coming back up for a fresh EUR surge! (down perhaps - check it out tommorrow! ) )
-42pips
Complete 127pips
OK so my prior day's brief had not gone to plan, however, the bears came back another day....
I waited to get the crossover gap to expand and also for price to split S1, I was subsequently in ahead of the plummet, that was an enjoyable experience.
Even the slight retrace after the plummet looked like a continuation pattern, but that I actually didn't want to risk a pull and so settled for a nice 101pips when price began slipping down again...
Pips 101
Total 228
Well done, dude! Keep the good work up.Akira
I believe I mentioned before about keeping your eye on this GBPJPY 4hr chart. Well I'm glad I did today at about 4:30pm.
There has been a really powerful pin-bar reversal pattern that proved absolutely right. There were a lot of these on GBPJPY within the last couple of months...
I entered shortly after I saw it that was pretty much the ideal time...I really wasn't expecting what happened next; a fairly hefty price spike upward to my PL which I had set at Daily R1, 74 pips away. . .It spent approximately 10 minutes hesitating 4 to 7 pips from my own PL but it was looking 90 percent likely to strike so I allow it and that is the best to get a nice green circle on my chart (exit at PL target instead of manual exit).
I'm well chuffed with this commerce as I had not meant to trade today as a result of NFP report. . .but a excellent chance on GBPJPY I couldn't miss (I miised yesterdays Short reversal because of time of school run...a similar candle creation )
74pips
Total for 6 trading days = 302pips and 29% onto my account
Everything has seemed to proceed with me through those 6 days that has honestly not previously been the case...I wonder how much this is fortune or probability? Will be interesting to see how next week goes...
Hey thanks Akira ! Really appreciate that.Originally Posted by ;
Well done, dude! Keep up the good work.Akira
Hope all is well with you,
Doug
Well on thinking over it I think I will answer my own question there: I was confronted with a great quantity of luck with prices pretty much constantly going in my direction about the transactions I have so far taken.
8 Wins
2 Losses
1 Break Actually
With an average of 48 pips on winning transactions.
I think it's been an exceptional week and unlikely to be repeated.
But I would also state that my mindset has enhanced and have stayed more serene and collective while trading. After having trading breaks before however, I have found this. One comes back to things new and with a less stressed attitude to trading....previously when coming back from a break, after a few losses creep into the plogy begins to slide away. . .we will soon see!
I should also add that, like we often do, I have previously had a teny to over-trade together with the feeling of, I have to get a commerce on the go (at least one!) Or I am missing out!
I might both have made 22 transactions this week and finished with a 50-60% success rate. As my Risk benefit has been around 1:1 on average that would have wiped out most/all of my profit.
So I have learnt from this week:Keep collective and calm and take a break if not. Only trade high probability set ups and do not have to exchange them all Avoid over-trading as much as you'd avoid getting run over by a bus.
Any other ideas welcome
Have a good weekend,
Doug
Nicely closed two trades now and were equally lost. Trying to get on Euro because it broke below support (last week's weekly ), however price retraced double to cause me to exit and then get stopped out.
I have been affected by seeing a weekly chart of this US$ index on 's thread in which a wonderful trap pub formed last week in a reduced - a higher low, could currently strengthen and as Euro is 50 percent of this index I was keen to try and get in to a short, but not to be now...
I am currently running a GBPJPY commerce from 9:30GMT this morning after it broke a week's top. Expecting for the retrace to bounce back up again for a significant target....waiting. . .waiting....waiting....
Paradoxically The GBPJPY trade as previously got well stopped out at the morning.
From this I think I should introduce a rule to my trading that after a specific quantity of time if my friends don't turn up (bulls or bears), I close the trade...
There was another issue with this trade. Maybe entry was ok, I don't know, but afterwards about the 4hr chart there was a tweezer top with an engulfing bearish candle, which was a lot more bearish than bullish!
However, I was already in the trade and to allow conflicting information in my decision making part of my mind was being severely filtered: cognitive dissonance - see more detail about the graph attached.
Even if it was bearish - all these setups are only probability setups aren't they? So really anything can happen and I'm going to stick with the original egy despite lots of signals too the reverse! This was my thinking and a few times I had glimpses of trust as some bullocks seemed to only wimp away in the approaching bears!
Wow, to be able to exchange with a free mind with no damaging filters and transaction always with the maximum chance in mind....
This is just too embarrassing for comment. . .embarrased smiley not working. . .ah, today it's...
Posting Permissions
Reply With Quote
