Discuss failure Trades
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Thread: Discuss failure Trades

  1. #1
    OPEN POSITIONS (0)



    CLOSED POSITIONS

    EURJPY - Bearish Pattern
    USDCHF - Bullish 3 Drive (added 04.05.2011 - 14:28 GMT 1)

    CANCELLED ORDERS

    EURCHF - Bearish Butterfly (added 28.04.2011 - 13:45 GMT 1)
    USDCHF - Bullish Deep Crab (added 29.04.2011 - 10:21 GMT 1)
    EURUSD - Bullish 5-0 Pattern (added 03.05.2011 - 18:07 GMT 1)
    EURGBP - Bearish Buttefly (added 29.04.2011 - 08:23 GMT 1)
    EURJPY - Bullish Gartley (added 28.04.2011 - 22:16 GMT 1)


    PENDING ORDERS (2)

    GERMAN30 - Bearish 5-0


    EURGBP - Bearish Gartley

    http://my.jetscreenshot.com/3270/201...mj4z-131kb.jpg

    That is the type of Setups I enjoy. We have ratios that are perfect.

    SELL ZONE: 0.9116 - 0.9170... 54 PIPS

    STOPLOSS: ~60 PIPS

    TAKEPROFIT 1: Point B: 0.8940 ~ 175 Pips

    RRR: 1:2,9


    ----------------------------------------------------------------------


    Hello everyone,

    I opened this thread because I truly need help with my trading.

    So far, I did very well but the previous 2 month have been a astrophe. My account is down 34%.

    I have to worry that I know Moneymanagment nicely and only trade with a minute 2:1 RRR and customized positionsizes.

    I used to exchange from higher timeframes and created 20% and more every month in and out.

    As I wanted to become more active as a trader and dont wanted to wait long because of my installments I began trading on an intraday basis. The machine I used on timeframes is suitable for lesser ones.
    But for now it doesn't work for me and I know I can't force the system to do the job.

    In the future I will post charts and setups interactively and hope that you guys are interested in discussing these trade thoughts.

    But let me explain how I operate:

    The fundament of my trading have been harmonic price patterns because you can view them on harmonictrader.com

    For my longer term transactions I used the following in allignment with these patterns:

    - Levels of Support Resistance (flat, Trendlines, Channelprojections)
    - MACD (only Divergences)
    - COT Report (looking for extreme placement )

    Example:

    http://my.jetscreenshot.com/3270/201...iheh-125kb.jpg

    This is a possible scenario. There is no purpose to go long right now @ C. Price can proceed down farther. The PRZ is about 70 Pips (note we are @ a daily chart) and also the very first TP is @ Point B 200 Pips. So almost 3:1.


    About the Intraday Basis I utilize these tools (the heart of the machine are still the harmonic patterns):

    - Support Resistance
    - Pivot Points
    - Plogical Levels
    - Yesterday High Low
    - MACD (only for Divergences)

    I don't need to observe all resources in confluence. The main issue to me is support resistance. Sometimes I exchange them without harmonic patterns.

    Instance:

    http://my.jetscreenshot.com/3270/201...an14-134kb.jpg


    -----

    http://my.jetscreenshot.com/3270/20110413-hd96-99kb.jpg



    In the moment I have no real loosing trades to reveal you. I will post them. Any aid would be really appreachiated by me!

  2. #2
    Quote Originally Posted by ;
    I used to trade out of higher timeframes and made 20% and more each month in and out.

    As I wanted to become more active as a trader and dont desired to wait long for my setups I began trading on an intraday basis. The machine I used on timeframes that are higher is acceptable for lesser ones.
    But for now it doesn't work for me and I know I can't force the system to work.
    I would say you have already nailed the problem.

  3. #3
    Quote Originally Posted by ;
    I would say you have already pinpointed the problem.
    Thanks for your reply.

    I know its really clear.

    But I know this type of trading works on intraday basis. I want to boost my intraday abilities.

  4. #4
    Quote Originally Posted by ;
    But know this type of trading functions on intraday basis.
    How can you know? Not taking the rest, just curious

  5. #5
    Quote Originally Posted by ;
    How can you know? Not taking the piss, just curious
    I know quite powerful people trading this manner.


    Only took this short:

    http://my.jetscreenshot.com/3270/201...hpoj-131kb.jpg

    Risk reduced to BE
    TP 20 Pips

    EDIT:Took 13 Pips w/ first Risk of 5

  6. #6
    Cool. Not my bag, but best of luck to you.

  7. #7
    Next Thought:

    http://my.jetscreenshot.com/3270/201...bn4x-116kb.jpg

  8. #8
    Quote Originally Posted by ;
    Cool. Best of luck to you, although not my bag.
    Thanks very much for your time!

  9. #9
    34%?

    That I simply don't understand how that's possible. I have never understood how it is likely to dismiss an account without even taking ridiculously big places. If you are risking 0.5-2% a trade, you are down by 17-68 trades.

    The only thing that's against any sensible trader only ambling along at rest is the broker's disperse. Thus by nature, if you are taking levels of profit and managing your trades ok, you will only notice your equity decrease by small fractions. Throw in any sort of undestanding of a fantastic trading setup (also referred to as edge) and you ought to be able to break even comfortably or, shock, even turn a profit.

    If you'd said you'd shrunk your account by 5-10% then perhaps I would say you could solve the situation easily but 34%? Yikes, go back to more timeframes or you have to quit trading quickly.

  10. #10
    Thanks Trotty,

    I had a massive string of losses. Almost every transaction went against me and I never was risking more than 2%. I'll continue posting my thoughts. Maybe something is terribly wrong with them.

    Next:

    http://my.jetscreenshot.com/3270/201...zoyj-102kb.jpg

    I already had a short attemp in the bearish gartley. Stopped outside for -7. MISTAKE: Pattern was completed and price responded to it. I was simply too late. That means: wait and more patience for another opportunity.

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