Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
+$500 I traded the small pullback going down. I am trying to focus more on the current action rather than looking at the past too much.
I started trading in 1989 looking at paper charts and with tradestation 2000i products somewhere back then. I traded Forex around 1999 and enjoyed the idea with the low cost to entry. Over the past few years, I continued to try futures with different methods. I settled on going back to simpler price action trading. This type of trading fits my personality. The last two years have worked out fairly well but I have a few things to improve.
I still had my ATM on 4 ticks and did not change it in time. I will take what I can get most of the time but 8 ticks is still a nice target for my r:r. There are a few days when I even had the account set to sim and I had to change everything and do another few trades live. It is easy to lose focus in trading if we are not careful.
On this trade, I was already at $2500 from Sunday evening, so $500 was acceptable to finish the day as the broker adds the evening to the overall trading day.
+$1000 with 8 ticks. If I have a small trend on a lower time frame and the larger time frame is in congruence, I will take the trend trade at the retrace to the trend line. The last low structure was 12 ticks away on the larger chart time frame. My stop or reverse would have been in that area.
You wrote ( post #110) you try to post a winning - or what you called a typical - trade from each day into the journal. I think there's more to learn from the losers.
Taking those small 1-2 points winners and letting losers run may give a high win-rate but just a couple of losers will wipe out all gains and more.
How much was the total $$ loss on these 7 losers? Why not post these? Would be interesting.
Of course, not all my trades are winners. I will post some comments on some of those losing trades. Typically, for instance if the market turns, I have a mental stop and a physical stop much higher. If it is a slow time of the day and the market is ranging back and forth, I may scale in at a loss to average out the losing trade. At that point, I will take any profit to get out of the bad trade pair and go onto the next one.