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$409k Challenge

  • #361
  • Edited 2:24pm Apr 1, 2020 2:05pm | Edited 2:24pm
Quoting Mtinifx
{quote} Excellent idea. I use mental SL but if you do you have to be ruthless! My big problem is overtrading that is for sure - traded NY session - about 20 trades and I'm 80 cents down. OK only 80 cents but the lesson is ........! Total waste of time
hehe...Yes thats just how it is....The Big trick is to try and stop when daily target is met ore even ahead at all if it doesnt feel right...Not to take a trade just to take it,be sure it lines up as you want it....I struggle often with that also,but as you see last two days i been careful not to give back what i have made....If you get the rythm and feel confident i do stretch over my daily goal too...
Insanityoing same ting over expecting different results..Einstein
  • #362
  • Apr 1, 2020 2:17pm Apr 1, 2020 2:17pm
I know everybody sais indicators are lagging and dont work,but this one points out divergences and does not repaint i use it just for confirmation and do not trade the signal alone even i think would make profitt doing that also.....So please if you do use indicators try it out it does increase my winrate with renkos atleast i havent tried it on normal charts live,but i had it on a H1 chart and scrolled back and it does confirm tops and bottoms and arrow pops up on second ore third candle after reverse if there is a divergence on the MACD....
Attached File(s)
File Type: ex4 MACD_Histogram.ex4   41 KB | 306 downloads
File Type: mq4 MACD_Histogram.mq4   14 KB | 319 downloads
Insanityoing same ting over expecting different results..Einstein
  • #363
  • Apr 1, 2020 2:28pm Apr 1, 2020 2:28pm
Quoting FXsniper111
{quote} As i can see from numbers of trades and number of pips i belive most of us are scalpers here and trading without a stoploss on a small account can be a catastropy... You need to take what the markets give you and try to hold a high winrate,because if it goes and goes against you and if you add on thoose you blow the account......so i use abaut 1:2 risk reward give and take meaning my stop is wider than my target and if i get some runners i trail the stoploss,but most trades are just 2-10 pips and my stop 10-20 pips and my stoploss saved...
A very important aspect In trading is position sizing according to balance, for this thread its less relevant as here everyone tries to compound fast, wich is perfect to achieve the the 5% target and very interesting to see if someone can achieve it.... That said, when trading a decent size account one off your best weapons are trading small, one can be very happy with 0.5 % day.... I will keep following up with you guys it's a pleasure to read this thread. Good luck to al in this adventure
  • #364
  • Apr 1, 2020 3:41pm Apr 1, 2020 3:41pm
Quoting Patje
{quote} A very important aspect In trading is position sizing according to balance, for this thread its less relevant as here everyone tries to compound fast, wich is perfect to achieve the the 5% target and very interesting to see if someone can achieve it.... That said, when trading a decent size account one off your best weapons are trading small, one can be very happy with 0.5 % day.... I will keep following up with you guys it's a pleasure to read this thread. Good luck to al in this adventure
Thanks Patje
You're absolutely right. Vital to keep position sizing proportionate. With my balance can only trade microlots

Wish you could join us!
  • #365
  • Apr 1, 2020 6:27pm Apr 1, 2020 6:27pm
Quoting Mtinifx
{quote} Thanks Patje You're absolutely right. Vital to keep position sizing proportionate. With my balance can only trade microlots Wish you could join us!
..uck i tried to open a dax trade at 01.00 GMT+2 last night because it had a string of bearish boxes i have never traded DAX before and the spreads where just horrific 35 dollars negative when i opened the trade and of course it went against me so i sat the stoploss at 400 dollars and prayed that it would go down,but it didnt so that was a hard lesson to learn so much for my non loosing days........hit!!!!!!!
Insanityoing same ting over expecting different results..Einstein
  • #366
  • Apr 1, 2020 7:30pm Apr 1, 2020 7:30pm
Quoting Mtinifx
{quote} Excellent idea. I use mental SL but if you do you have to be ruthless! My big problem is overtrading that is for sure - traded NY session - about 20 trades and I'm 80 cents down. OK only 80 cents but the lesson is ........! Total waste of time
You have to stop thinking that you are over trading. You are doing fine. just slowly slowly you have to align your trades with you strategy and trading philosophy and over the period time you will trade only with your strategies and ideas. also stop worrying about giving back and taking back from market its business and its going happen at some point of time or other.
  • #367
  • Apr 1, 2020 8:06pm Apr 1, 2020 8:06pm
Quoting FXsniper111
{quote} ..uck i tried to open a dax trade at 01.00 GMT+2 last night because it had a string of bearish boxes i have never traded DAX before and the spreads where just horrific 35 dollars negative when i opened the trade and of course it went against me so i sat the stoploss at 400 dollars and prayed that it would go down,but it didnt so that was a hard lesson to learn so much for my non loosing days........hit!!!!!!!
Well i did save the day so i am up to where i was bye sitting up all night watching GU and hope it hit the Pivot and PSAR and it finally did so i banked 7-8 pips with a 1 lot trade many will say its gambling ,but 6-8 out of ten times it will reverse at the pivot and i had confluence with PSAR as support so now i can finally sleep and get ready for tomorrow i am actually up a bit for the day....I dont understand the guys scalping DAX with that spread i mean 3500 points ...Mayby somebody can explain to me if there are times DAX not should be traded ore if it is like that all the time...???????Now some hours later it is at 2400 points .... The spread...
Attached Image (click to enlarge)
Click to Enlarge Name: 3.PNG.png Size: 83 KB
Insanityoing same ting over expecting different results..Einstein
  • #368
  • Apr 2, 2020 12:23am Apr 2, 2020 12:23am
Quoting FXsniper111
{quote} As i can see from numbers of trades and number of pips i belive most of us are scalpers here and trading without a stoploss on a small account can be a catastropy... You need to take what the markets give you and try to hold a high winrate,because if it goes and goes against you and if you add on thoose you blow the account......so i use abaut 1:2 risk reward give and take meaning my stop is wider than my target and if i get some runners i trail the stoploss,but most trades are just 2-10 pips and my stop 10-20 pips and my stoploss saved...
Hi Sniper,
Perhaps I'm conceited.
There is no problem with stop los… there is problem with me.
Solution lays in my mind. And it is not placing SL. SL does not solve my problems.
It is much wider/deeper problem. What I need, is to build number of scenarios about closing trades.
And develop discipline to execute this PLAN. SL is very small part of it and not very important. As long as I don’t know what I am doing, as long as I am attached to my vision of what is going on, and if I am not flexible, SL will not help me. I am not fighting for money I am fighting with myself… to improve myself.
I need closing trades strategy. I need be disciplined; I need to know what is going on right NOW.
That’s why I am on demo (using SL I’ve lost few kUSD on real account). When I convince myself, I am ready give try to real money, will do… no rush, so far.
Best of Luck, tons of green pips BN.
  • #369
  • Apr 2, 2020 1:38am Apr 2, 2020 1:38am
Quoting BlackNapkins
As long as I don’t know what I am doing, as long as I am attached to my vision of what is going on, and if I am not flexible, SL will not help me. I am not fighting for money I am fighting with myself… to improve myself. I need closing trades strategy. I need be disciplined; I need to know what is going on right NOW.
What you describe happens to every trader.

The bolded sentence is the million dollar question. It may take forever to never to find the answer. It depends on how far each trader is prepared to go for the answer, mostly never. It's not a psychology thing as most members wrote about this. It's a knowledge thing.
Know what you trade
  • #370
  • Edited 5:06am Apr 2, 2020 2:04am | Edited 5:06am
Quoting BWilliam
{quote} What you describe happens to every trader. The bolded sentence is the million dollar question. It may take forever to never to find the answer. It depends on how far each trader is prepared to go for the answer, mostly never. It's not a psychology thing as most members wrote about this. It's a knowledge thing.
By three methods we may learn wisdom:
First, by reflection which is noblest;
Second, by imitation, witch is a easiest;
and the third by experience, which is the bitterest - (Confucius)
I am trying implement all three ... I know there is very high chance that I fail ... all we are surrounded by tons of rubbish information, its sign of our time ...
Bolded sentence is may target, when get there will see do I need a SL.

Best of Luck BN

P.S. I am not a trader ...
  • #371
  • Apr 2, 2020 2:07am Apr 2, 2020 2:07am
this thread is meant for scalpers.
has one ever consider that one is meant to be a scalper?
give deep thoughts to which category one is meant to be: scalper, day trader, swing trader, position trader.

if one is classified as a scalper and trading m1/m5 chart with larger units to gain 5-12 pips or till the next one or two fractals away, then one has to be very determined to cut loss if price is going against the trade one or two fractals away due to the consequence of larger lots with larger loss.
if one is to apply the higher high higher low as trend in m1, it means that the trend has change in m1 when price closes beyond the 2nd level fractal.
by the same application, this applies to other higher time frames that one is trading in.
ITB - Seeing Orderliness amongst 'Randomness'
  • #372
  • Apr 2, 2020 5:37am Apr 2, 2020 5:37am
Not much time spent on watching charts today… but target achieved, few small scalps from last evening added … brain storm in my head ...

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  • #373
  • Edited 6:10am Apr 2, 2020 5:43am | Edited 6:10am
Hi everyone
I see mrdfx is staying out of this miserable market today. Very smart!
  • #374
  • Apr 2, 2020 8:03am Apr 2, 2020 8:03am
Well I'm 20% up now after earlier wiping out all my gains from yesterday! Will post statement later.
Tough day - no nice signals from my system which probably why I got myself into such a pickle
  • #375
  • Apr 2, 2020 8:28am Apr 2, 2020 8:28am
Today i was good took only sure signals,but tired after last nights adventures....lol....So i will stop now for LO session and try and get my last 1.5% in U.S session...I added to one trade just over pivot so i added 3 possisions at the pivot didnt hold support so i was 1 pip away from my stoploss,but it returned and i got a bit out of that trade.....When trading Pivots i put my stops 3 pips under ore over the pivot so would taken out 4 possisions if pivot hit....
Attached Image (click to enlarge)
Click to Enlarge Name: 2.PNG.png Size: 99 KB
Insanityoing same ting over expecting different results..Einstein
  • #376
  • Apr 2, 2020 9:22am Apr 2, 2020 9:22am
Quoting FXsniper111
I know everybody sais indicators are lagging and dont work,but this one points out divergences and does not repaint i use it just for confirmation and do not trade the signal alone even i think would make profitt doing that also.....So please if you do use indicators try it out it does increase my winrate with renkos atleast i havent tried it on normal charts live,but i had it on a H1 chart and scrolled back and it does confirm tops and bottoms and arrow pops up on second ore third candle after reverse if there is a divergence on the MACD.... {file}...
Here you can see the signals from the MACD Histo....all of them could give you 20-30 pips two of them even more its 10 pips pr box...I wouldnt take the last two because against the trend,but they would have worked out fine entering on second box,,,,And theese are live signals the chart have been running for days.....
Attached Image (click to enlarge)
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Insanityoing same ting over expecting different results..Einstein
  • #377
  • Apr 2, 2020 9:56am Apr 2, 2020 9:56am
the wait and the execution.
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #378
  • Apr 2, 2020 10:33am Apr 2, 2020 10:33am
Quoting Inthebox
the wait and the execution. {image}
So gold is tradeble what spreads did you get today???Ok i am calling it,satisfayed that the day ended positive after my huuge mistake last night when i opened a trade on DAX with 3500 points spread i have seen today that it is possible to scalp it because bye day the spreads are only 400 points and that is ok...I willl mayby look at it when my accounts a bit bigger....1 lot is minimum on DAX...So 4.1% for today and 61% for the week cant complain.....Tomorrow NFP day so i will be picky with my trades and probebly try to be done before NFP....I have no goal tomorrow other than being positive i have 9 vinning days in a row now and over 200 trades so it seems like my system works....
Attached Image (click to enlarge)
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Insanityoing same ting over expecting different results..Einstein
  • #379
  • Edited 11:08am Apr 2, 2020 10:37am | Edited 11:08am
Yes me too!

May I respectfully request that people who post on this thread be in on the challenge. Thanks

22% up - could have been and should have been much better. But there's always tomorrow!
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  • #380
  • Apr 2, 2020 11:08am Apr 2, 2020 11:08am
Quoting FXsniper111
{quote} So gold is tradeble what spreads did you get today??? {image}
i would say gold is not tradable having spread of 600 points to 3 times as much in short period of time.
i was in a way confident because price was at a major h4/h1 resistance zone. my best single entry gain was 7300 points.
ITB - Seeing Orderliness amongst 'Randomness'
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