Thread: Stuck in this drawdown trade - what would u do?

Hey..
I keep getting a lot of great trades in the start of the day. . But somehow, I end up becoming a trade at the day's end.
I keep taking a look at the trade in order to await price action to go in my favor, or manually close the trade.

Thing is. . Many times ive been observing to get 5,6 hours in the trade. . With volatility. . And price not going any where. Im stuck. .

How can you manage a trade like this? (see attached pic).


I got in at 18:13... its 02:13 now. Waiting to see if price is going down or up. Its on a point that is crucial.
Either I close the place manually when the price goes down. . If it moves up, it is kept by or.

I dont really enjoy having stoplosses due to stop-grabbers etc. im not certain if its a legitimate idea. I've openfx both ECN and tickmill.

now the turn of this AUD/USD to shut in accordance with the RSB rules and according to my method of compounding

see the image

as I have mentioned earlier, this thread is how to conserve your nick if you create wrong trade, and it is not to brag again, it is not a egy to exchange all time with it, it's only an approach to help young traders who might see in my method a remedy to thier wrong transactions. .

The principles of my method to convert wrong trades into profitable method Wrong trade is essential, we are human and we have to make mistakes do not cry do not utilize stoploss do not be panic, there's always soltion utilize the average, even just a little kid in KG1 knows how to use it use the compounding method the distance must be less than 250 points you must know about the math rules of average sum of loss / 100 points x 1.1 will provide you the new expected lot to utilize money management is essential if you do not know how to use MM, afterward Foreign Exchange is not your area, go and play with PS2.
I call it RSB theory

enjoy

HI ABOKWAIK, LONG TIME NO SEE

HERE IS MY AUD/USD, IT IS GOING TO TOUCH MY COMPOUNDING TAKE PROFIT LINE

What's the Concept of the rsb theory

It's the Typical between two trades and mainly on the h4 time frame

but you can use the Identical idea to convert Incorrect trades into real profit system and I write system not trade

the wrong Transaction is wrong, but it is a member in a Different matrix of trades in the Exact Same pair

to think outside the box, and to be Easy, wait till the abc Space is over 300 points and Also Create a new trade what is so ever the lot size, then wait and read the Psar Management, if the Psar Management is in your favor make the next Transaction in Accordance with the compounding and your MM

and keep it

then the market has the right to move either into your take profit point or the Contrary with more losses

here you should be an Actual trader who Understands Mathematics and MM

you wait till the Following 300 points are there and Also the compounding will tell you how much lots size you should use

or you can use it manually

loss in $ 300 1.1 / 100 points = new lot size

that Is it

since the AUD/USD IS BECOMING WEAK
I MADE SELL TRADE

SO THE BUY WITH PROFIT ARE ALL CLOSED MANUALLY BY MYSELF AND I HAVE OPENED ONE SELL TRADE

THE COMPOUNDING WILL NOW HELP ME TO CLEAR MY MIND FOR BETTER TRADING

Originally Posted by ;

Hey.. I keep getting a lot of trades at the day's start. . But I wind up becoming a bad trade at the day's end. I keep taking a look at the trade in order to await price action shut the trade, or manually to go in my favor. Thing is. . Many times ive been observing the trade to get 5,6 hours. . With volatility. . And price not going any where. Im stuck. . How can you handle a trade like this? (see attached pic). I got in at 18:13... its 02:13 now. Waiting to see if price is going up or down. Its on a vital...

You are not stuck at a trade.
Click to depart.
Watch, you're out!

You're stuck on your head, Mate!
You're telling yourself you're stuck.
Knock it off.

Green pips to all.
Cheers!

That Is a Fuck U pattern.

I would edge the trade and unroll it bit by bit from a weekly tf.

1. Define what sort of trader you are or want to be: scalper, day trader, swing trader or investment trader.
Depending on which, will determine the parameters you use to develop your own egy and skills in a principle based methodology.

Thank guys for all of your answers! . . much appreciated.

I am not in the market to make $10 a day, really. I love to risk more to obtain more.

Been studying markets for a year, dropped cash in beginning. . I then making a few days 1 $ k / day and started again last month. . And that started with a $2k account. I traded and then things turning around and profits obtained. Im in status quo with a $2k account.

I know I have an edge. I have not systemised it however. working on it. . And enjoying the process every day.

Yes going back to find out where I had been performing great versus today, is what I am working on.
I certainly see I was mixing in fundamental analysis much more than I am doing today,, which is whats hurting my performance as I see it.
I had been using more confluence regions as well. I will find my way and I am sure will return to $1k/day. Will it be without risk, No. . I know.


My style
Dt3 - I am a scalper. Confluence areas are found by me in a day and make the most of that. . It could be any currency and some other style, trend, breakout, reverse. . Whatever I see on the patterns combined with stronger/weak currencies predicated on sentiment/calender data.

Yes I concur. . So that it matches a style that is scalping, I have to fine tune my edge. Attempting to systemise it,, but not easy when in a streak.
I am creating an excel sheet of some calculations, a checklist. Also a cash management system.

I opened my own transactions publicly. You are advised to critize
... As you see. . That the 8th of March things took a turn for me personally. Otherwise I had profit from $2k-9k

1. I know I am taking positions in contrast to my own balance.
2. I am aware I am not using ceases.
3. I am aware I have drawdowns.

... some how that worked for me. This where I want to make my egy, However, as things in fxworld isnt consistant.
And aparently some thing is working, something is not... so I want to work on what exactly does it for me.


Pls note: I am open to review and your own advice. . But please do if you're currently making real cash and profitable.
I dont want advice from folks who are earning $10/day, 0.01 lots, together with 100 percent winrate etc..

That kind of cash wont get me anywhere. And its not my trading.



Decision
No offence Samer, would you please reduce the posts and not hijack. I had been asking for information.
I am glad that you are earning pips with your EA. Keep this up.
thanks