My 60 day challenge (Yes i know another hero...) - Page 2
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Thread: My 60 day challenge (Yes i know another hero...)

  1. #11
    Hello,

    When I watched my charts this morning I watched the big spike , after some japanese news.
    Price went fast, but moved up fast. Hard for me to choose a management until London opened. Because price stayed below the daily rollover of NY I choose to go brief.
    My entry could be better, but my 1st trade was ok.

    2nd, 3rd 4th and 5th trade were al longs, because fad was up for today. (price stayed above NY rollover and over the band. Btw the 5th transaction was taken after London closed. Was better to not take this trade, but was able to shut it at nearly BE.

    Result of today = $31,60 profit ==gt; 14,37percent

    Regards


  2. #12
    Hello,

    Well today was not really a good afternoon (altough that the end result is okay ).

    My 1st trade was quite long. This was ok but I had set my tgt too high. Because of that I missed my first 30 pip of profit. Price went to the daily NY rollover (1.5888). I added a long around that point. Price went straight back to 1.5916, which would mean also a profit, if I'd closed my transactions. But I didn't, nevertheless hoping that price goes to 1.59400.

    Well price went all the way back to the weekly close (1.58333). Added another long at that point to get even (would be about 1.58800). On the other hand, if the weekly close would break I would shut my transactions just below the WC. But price went up again.
    After a while and employing the creation tool (ABCD) I calculated a tgt of 1.59100 again (if price would go up over the NY rollover).

    Price went eventually to my tgt. I closed my long by the WC earlier then the 1st two transactions of this morning.

    Lessons heard today ==gt; do not be to greedy, do not put your tgt to large (especially before LO opens)
    Close transactions when the are in small profit or BE and price won't move the way you want.

    Result of today = $39,35 ==gt; 15,65percent

    Regards


  3. #13
    Hi,

    Today was a terrible day, if you examine the way I traded.
    Started this morning with a short, which should have shut BE or with a tiny loss. My head refused to provide me the signal to shut.
    Additional another short one. Handle to get again BE, however, thought price would proceed down farther. But price went up. Almost decided to shut my trades in loss, but also noticed some divergence about the hour chart. Also the fact that price didn't stay that long above 1.600 gave me a hope (hope is poor in this industry ). I made the decision to keep the trades a bit longer to see how price would grow. Fortunately price went farther down. I estimated a price around 1.587 with the ABCD formation tool. Failed to excpect price would drope much farther then that but it did.
    3rd trade was somewhat late, however, price of 1.58300 (H1 200 ema) was a fantastic target.

    Lessons learned, just close the trade if price will not proceed in the way that you would like after some time. Anything could happen in Forex!

    Result of today = $32,28 ==gt; 11,10%

    Cheers.



  4. #14
    Really like the idea, good luck.

  5. #15
    Hi,

    Today started okay, but I messed it up. May have closed all transactions with a little profit, however, the GREED in me denied.
    I just didn't pay sufficient attention to the chart.
    Only closed my poor transactions prior to the weekend.
    So now I have lost all of my profit of this week.


    Effect of now = - $132.51 ==gt; -41.01% loss
    consequence of this week = -$0.64 ==gt; average of 0% per profit a day
    Total result = $63.96 ==gt; average of 4.2% profit each day.

    Lessons learned ==gt; Do not be to greedy! Cease trading punctually on friday when NFP is released.

    Have a nice weekend.

    Cheers

  6. #16
    I'm following your diary and I really would like to see you reach your goal. However if you eliminate all of your weekly earnings in one day it'll present a challenge to achieve your goal in 60 days.

    Lets buckle down and get serious here.

    Study the chart. Lets attempt to avoid another blunder such as now.

    Regards

    Jeremy

  7. #17
    Your charts hurt my eyes and make my stomach uneasy....

  8. #18
    Quote Originally Posted by ;
    I'm following your journal and I actually would love to see you reach your objective. But if you eliminate all your weekly earnings in one day it'll pose a challenge to reach your target in 60 days.

    Lets buckle down and get serious here.

    Study the chart. Lets try and avoid another blunder such as now.

    Regards

    Jeremy
    Hi Jeremy,

    Thanks for your post, you are right. I cannot really loose another weeks profit to get my objective. But I am still struggling with my mind. Somehow the greed in me ruins everything.

    Looking at the chart you can see that the weekly intimate was a good support. It stopped the downmove twice and then it shaped higher lows. Additionally after NFP news price went up over NY rollover and the group on the chart, also a indiion of price going up again. Should have closed my transactions there, so my loss had been .

    I think I had been concentrated too much on a down movement due to the down movement on thursday.
    Hard lesson learned this week. Hope that this lesson pays out me in the future.

    Regards

  9. #19
    Quote Originally Posted by ;
    Your charts hurt my eyes and make my stomach uncomfortable....
    Sorry man, but I wear sunglasses when I am trading

    On the flip side, my charts seem in real life, then the images posted here.

  10. #20
    Well done ! I enjoy the way that you recover after large losses, just work on the best way to lose and you are going to be just fine

    Keep it up mate.

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