5000 to 0$ challenge, week 3. Will AUDUSD ever stop falling?
I hope not :p
Wish I left more in XD
Feels like it is never going to stop going down.
Next time...
I do not even know where I should close.
Let's see what happens when it tests that low at 0.74123.
I can use it as a hedge so maybe this is what I should do, just keep it open forever as a hedge.
Let's see how well I can perform this week.
My account is at 5600$ now, I started rather slowly, and this week I prefer to go without leverage.
Just testing my skillz more than aiming for an amount of $$$.
Wish I left more in XD
Feels like it is never going to stop going down.
Next time...
I do not even know where I should close.
Let's see what happens when it tests that low at 0.74123.
I can use it as a hedge so maybe this is what I should do, just keep it open forever as a hedge.
Let's see how well I can perform this week.
My account is at 5600$ now, I started rather slowly, and this week I prefer to go without leverage.
Just testing my skillz more than aiming for an amount of $$$.
Trade active:
Doubled up on my short trade on USDCNH.
Comment:
0.382 is pretty far thought...
Comment:
As long as my loss on USDCNH is less than my win on AUDUSD I just keep shorting I guess.
Still can keep adding a ton.
At +120$ on AUDUSD & - 25 on USDCNH.
Still can keep adding a ton.
At +120$ on AUDUSD & - 25 on USDCNH.
Comment:
Curious what will happen on that moving average on EURAUD...
Trade active:
Short EURAUD 5k
Approached DMA50 & fib, in a downtrend still...
Looks like bearish div too? Maybe?
Approached DMA50 & fib, in a downtrend still...
Looks like bearish div too? Maybe?
Comment:
Weekly MA20 not that far too.
Comment:
Seems logical AUDUSD bounces now, and with that EURAUD retraces a bit.
USD/Yuan still going crazy, but I am expecting it to go down soon.
Right? Right?
USD/Yuan still going crazy, but I am expecting it to go down soon.
Right? Right?
Trade active:
Short GBPAUD 5k.
Trade closed: target reached:
Symbol S/B Open Close Amt P/L Gross P/L Com Roll Open Time Close Time
GBP/AUD S 1.79301 1.78829 5 47.2 17.40 0.00 0.00 6/19/2018 01:05 6/19/2018 05:06
EUR/AUD S 1.56923 1.56770 5 15.3 5.64 0.00 0.00 6/18/2018 19:36 6/19/2018 04:53
Total 10 62.5 23.04 0.00 0.00
GBP/AUD S 1.79301 1.78829 5 47.2 17.40 0.00 0.00 6/19/2018 01:05 6/19/2018 05:06
EUR/AUD S 1.56923 1.56770 5 15.3 5.64 0.00 0.00 6/18/2018 19:36 6/19/2018 04:53
Total 10 62.5 23.04 0.00 0.00
Trade active:
Short USDCAD 5k.
Comment:
I think USDCAD is a good trade, but USDCNH that one... I went too early.
Was half dead when I entered the trade.
Was half dead when I entered the trade.
Comment:
Ok anyway, it is becoming clear and I knew already from my stats, that going against the general trend is bad. And going with the trend has a high winrate.
What I need to do next is figure what conditions I want if I am to enter a trade going against the trend.
What I need to do next is figure what conditions I want if I am to enter a trade going against the trend.
Order cancelled:
Out of USDCAD at 19$ loss.
4H bearish div is probably not going to be good enough to open a trade.
Still want to short it, but higher.
4H bearish div is probably not going to be good enough to open a trade.
Still want to short it, but higher.
Trade active:
EURNZD short 5k. Tossed a coin.
Comment:
I actually missed quite a few trades while I was busy.
Trade closed: stop reached:
I just closed EURNZD. Went with the trend and won again.
I got stop lossed on USDCNH this night. Went against the trend and lost again.
I won every single trade I went with the trend & lost almost all those where I went against the trend.
Starting to see a pattern here :D
I want to sometimes go against the trend but... I am not sure when to & what targets to aim for ...
The big moving averages I am not going to trade based on them it has only been losses.
I should go check at charts in the past, but I am so tired of doing that...
Best advice:
1- Do not be delusional & assess correctly what direction the trend is.
2- Unless you know something it's best to just go with the trend.
I really want to learn when is it a good idea to go against the trend.
Big Fib levels? Maybe just do those when the previous fib has clearly been reactive so you can expect the next ones to be too.
200 Weekly & Monthly MA? Perhaps, what happened last time they were tested?
Based on RSI? I think this indicator is troll except for DIVERGENCE which works pretty good.
Still riding AUDUSD. If it reverses just after I took a loss on USDCNH I am done.
I got stop lossed on USDCNH this night. Went against the trend and lost again.
I won every single trade I went with the trend & lost almost all those where I went against the trend.
Starting to see a pattern here :D
I want to sometimes go against the trend but... I am not sure when to & what targets to aim for ...
The big moving averages I am not going to trade based on them it has only been losses.
I should go check at charts in the past, but I am so tired of doing that...
Best advice:
1- Do not be delusional & assess correctly what direction the trend is.
2- Unless you know something it's best to just go with the trend.
I really want to learn when is it a good idea to go against the trend.
Big Fib levels? Maybe just do those when the previous fib has clearly been reactive so you can expect the next ones to be too.
200 Weekly & Monthly MA? Perhaps, what happened last time they were tested?
Based on RSI? I think this indicator is troll except for DIVERGENCE which works pretty good.
Still riding AUDUSD. If it reverses just after I took a loss on USDCNH I am done.
Trade active:
Long USDMXN 5k. I did not hear the alert...
Comment:
I hope this is not when it comes crashign down lol
Comment:
If possible I close a part and ride the rest forever.
Comment:
Closed 2/5 at market on the blue line & it appears I got scammed wanted to close higher.
If possible, got to have 2 separate limit orders so 2 positions and can close separatly with limit orders. It is really dumb a single order can only be partially closed at market or I missed something.
If possible, got to have 2 separate limit orders so 2 positions and can close separatly with limit orders. It is really dumb a single order can only be partially closed at market or I missed something.
Comment:
These risky trades where I went against the trend, if I paper traded I would not have lost money (didn't lose that much) BUT I probably would not remember it, whereas trully taking the trade going throught the whole process, can't forget it.
Don't want to be TOO picky with trades or that would be just taking very few trades, but taking too many = too many losses.
Not sure what the right balance is.
No one teaches that afaik & the usual trollish garbage that is taught 90% of the time is obviously bad.
I didn't see that many successful traders but they seem to have their own system and it's not "look for head and shoulders bla bla bla".
There's one guy that trades based off sessions, some just look at order book.
I think for me it is going to be: buy at support/sell at resistance WITH the trend OR open a trade when there is RSI divergence on the daily chart, since those work 90% of the time, probably more...
I wonder if there are other signals I can use... Big Fib probably work often...
Trendlines sometimes...
I think the 2 things I am interested in ALWAYS work, and the rest is specific the the ticker, gotta check previous occurences see what happened etc.
DO I really need more signals?
If I would be to trade 15 FX pairs + Bitcoin + Oil Gold + 30 stocks.... That would be more than I can handle?
Better start slow anyway until really comfortable.
Oh and who needs more than 5% a week anyway?
Don't want to be TOO picky with trades or that would be just taking very few trades, but taking too many = too many losses.
Not sure what the right balance is.
No one teaches that afaik & the usual trollish garbage that is taught 90% of the time is obviously bad.
I didn't see that many successful traders but they seem to have their own system and it's not "look for head and shoulders bla bla bla".
There's one guy that trades based off sessions, some just look at order book.
I think for me it is going to be: buy at support/sell at resistance WITH the trend OR open a trade when there is RSI divergence on the daily chart, since those work 90% of the time, probably more...
I wonder if there are other signals I can use... Big Fib probably work often...
Trendlines sometimes...
I think the 2 things I am interested in ALWAYS work, and the rest is specific the the ticker, gotta check previous occurences see what happened etc.
DO I really need more signals?
If I would be to trade 15 FX pairs + Bitcoin + Oil Gold + 30 stocks.... That would be more than I can handle?
Better start slow anyway until really comfortable.
Oh and who needs more than 5% a week anyway?
Trade closed: stop reached:
Stopped on USDMXN while I was outside lol
Comment:
Are we going to see some hidden bearish divergence?
(Signaling downtrend continuation)
If it gets higher maybe good idea to short it.
(Signaling downtrend continuation)
If it gets higher maybe good idea to short it.
Comment:
I have been sick all week & non productive trading wise but idc.
I have been working on my system, now finishing scripts to alert me when my condition are reached hu hu hu.
If it works well I might even be able to let it place orders itself.
Passive income here I come!
I have been working on my system, now finishing scripts to alert me when my condition are reached hu hu hu.
If it works well I might even be able to let it place orders itself.
Passive income here I come!
Comment:
I hope I can find more opportunities than going with the trend, don't want to take 1 trade a month...
But don't want to have low winrate...
Crap.
I should be able to use my superior intellect to see more than others lololo.
But don't want to have low winrate...
Crap.
I should be able to use my superior intellect to see more than others lololo.
Comment:
Is this legit divergence?
Is that thing goin to reverse?
Right after I took a loss on the other side?
I don't even care, it is a good thing it means I best not trade every move.
Might as well relax and only take a few trades.
Being broke sucks, you have to trade alot.
Once your wealth is 8 figures you don't have to care can just invest long term, taking let's say $1000 a day won't make much of a difference you're better off aiming for 20% per year like successful multi million / billionaire money manager.
Or there is the Soros/ renaissance technology way, trade every little move but use computers to do it for you.
Is that thing goin to reverse?
Right after I took a loss on the other side?
I don't even care, it is a good thing it means I best not trade every move.
Might as well relax and only take a few trades.
Being broke sucks, you have to trade alot.
Once your wealth is 8 figures you don't have to care can just invest long term, taking let's say $1000 a day won't make much of a difference you're better off aiming for 20% per year like successful multi million / billionaire money manager.
Or there is the Soros/ renaissance technology way, trade every little move but use computers to do it for you.
Comment:
Damn I think this guy is mad about this amazing rule the SEC created
traderbotmarketplace...ern-day-trader-rule/
traderbotmarketplace...ern-day-trader-rule/
I should not have shorted last week just because there was - I think - 1 HR RSI divergence. that signal is not good enough for me. Not doing that again.
Have to remember to start a swing trade if it goes to 0.382 (and TP short term).