Hi pros price moved up fast and fall at the same speed. Now we are on support that could be an opportunity to long to fill the gap
Trade active
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relong EURUSD
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large pinbar, an other try
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Long gold aiming for the trendline of the bear flag then short
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Loss on USDCAD/GOLD/EURUSD and SPX: -56 x 4 = - 224
AB = 3834 - 224 = 3610$
chart to look next
AB = 3834 - 224 = 3610$
chart to look next
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LONG SPX
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LONG usoil
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long gbpusd
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long EU too there is a gartley
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same for AUDUSD
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usdcad short
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short USDJPY
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shorted spx because usdjpy dropping at the same time
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we lost a battle, not the war
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loss on EURUSD/USOIL/AUDUSD and USDCAD: -56 x 4
some losses covered by 1:2 hitted on USDJPY and SPX500USD : + 56x2
AB : 3610 - 112 = 3498$
week closed with good performance even with the 3 day losses at the end.. weekly goal performance reached (25%)
This week I learnt that when the market gives you monstruous number in one day or two. be humble and close the week like this. or keep working slowly (slower than I did) with half risk per trade (1% instead of 2) for bonuses but don't attempt or wait for an other monstruous performance. Even if you are looking to take 5% , the risk is here.
Wait is recommended in this case
some losses covered by 1:2 hitted on USDJPY and SPX500USD : + 56x2
AB : 3610 - 112 = 3498$
week closed with good performance even with the 3 day losses at the end.. weekly goal performance reached (25%)
This week I learnt that when the market gives you monstruous number in one day or two. be humble and close the week like this. or keep working slowly (slower than I did) with half risk per trade (1% instead of 2) for bonuses but don't attempt or wait for an other monstruous performance. Even if you are looking to take 5% , the risk is here.
Wait is recommended in this case
Comment:
second lesson of this week.
don't readjust the risk reward per trade when the week isn't finished. it add you stress and risk. It can be potential desastrous for you account because you can go back to the precedent point (loose all your gains or more).
Readjusting risk per trade is at the finished week
don't readjust the risk reward per trade when the week isn't finished. it add you stress and risk. It can be potential desastrous for you account because you can go back to the precedent point (loose all your gains or more).
Readjusting risk per trade is at the finished week
Comment:
third lesson of this week.
always have a retrail stop to 0.9 because it avoid some losses. The principale is to protect the capital first. Some times you arent here to look how the trade goes and the market goes unto 1:1 then reverse immediatly to your SL. Those trades are really frustrating and provocating avoidable losses.
Break even can be automated by retrail stop , this mecanism is really helpful to you.Less efforts and less losses.
Why 1:0.9 retrail stop? because I think those stops let the market enough space to fluctuate without stopping you out and protect your capital instantly even if you don't make 1:1 already. The probabilities goes on your side I think.
The second part of this lesson still need some study about it , but I will write it to remember and to share with you.
Always have 2 positions into the same trade (with both retrail stop) for exemple you divide the position you normally took: if it's 500$ margin, you take two trade with 250$ margin.
And the first one you put the Take profit at 1:2 systematically and the other position is to let run.
Maybe this tip can upgrade the winning ratio and probabilities.
always have a retrail stop to 0.9 because it avoid some losses. The principale is to protect the capital first. Some times you arent here to look how the trade goes and the market goes unto 1:1 then reverse immediatly to your SL. Those trades are really frustrating and provocating avoidable losses.
Break even can be automated by retrail stop , this mecanism is really helpful to you.Less efforts and less losses.
Why 1:0.9 retrail stop? because I think those stops let the market enough space to fluctuate without stopping you out and protect your capital instantly even if you don't make 1:1 already. The probabilities goes on your side I think.
The second part of this lesson still need some study about it , but I will write it to remember and to share with you.
Always have 2 positions into the same trade (with both retrail stop) for exemple you divide the position you normally took: if it's 500$ margin, you take two trade with 250$ margin.
And the first one you put the Take profit at 1:2 systematically and the other position is to let run.
Maybe this tip can upgrade the winning ratio and probabilities.
Comment:
and to end. alternative patterns have low winning rate. (that doesn't mean they don't work but they have poor winning rate.) : alternative harmonic, alternative chart patterns
it's better to stay with the classics pattern.
+ indicators are outdated/not really usefull. I'm trying to take it out little by little from my trading methods (except emas, who can be effective with good configuration: 10 and 20 or 50, 100 and 200 but not to be used everytime)
we learn a lot this week about psychology, technical analysis and automatisation of some aspect of trading.
I think that will increase the efficiency and of course permit us to have an approach more defensive/protective for the account AND increase gains!
See the retrail stop and the automatic 1:2 reached as a robot employee. now you have this robot to help you doing the work. You can concentrate on making High Quality Trades!
Have a nice week end
it's better to stay with the classics pattern.
+ indicators are outdated/not really usefull. I'm trying to take it out little by little from my trading methods (except emas, who can be effective with good configuration: 10 and 20 or 50, 100 and 200 but not to be used everytime)
we learn a lot this week about psychology, technical analysis and automatisation of some aspect of trading.
I think that will increase the efficiency and of course permit us to have an approach more defensive/protective for the account AND increase gains!
See the retrail stop and the automatic 1:2 reached as a robot employee. now you have this robot to help you doing the work. You can concentrate on making High Quality Trades!
Have a nice week end