I drink your milkshake
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Thread: I drink your milkshake

  1. #1
    My trading method is based a solid foundation (balanced risk and sound cash management) and a mix of fundamental analysis and observing price action.

    I use a few crude chart indiors: your useful fashion line, the reliable support and resistance line, an SMA 50, and fib retracements. I do not rely on those indiors to make me some cash. They do assist me loe where price is very likely to bounce, bob, flip, flip, and perform all kinds of unexpected exciting things!

    At this time I risk 1 percent on near term trades (couple weeks to a month), and I will risk more if the reward justifies it, but not greater than 2%.

  2. #2
    A fantastic R:R setup for EUR/USD is an evaluation of 4945 using a retracement to 4910/00 and that I would buy on a bounce off of support in that region. I am looking for price to combine right above 4900 in the overnight session for this installment to be valid.

    I might not trade EUR/USD 1.50 at all because heading into the weekend that I have a funeral to attend and the 100 pips isn't worth the hassle of handling the transaction and dealing with the stress of having a loved one. In addition to the setup might or might not happen and I will not force anything.

  3. #3
    EUR/USD hasn't lost any momentum in the overnight session, attaining past 4950 without pause. I will reevaluate my egy to reenter the commerce taking into account the action of the final few hours.

    My error was that I did not rely price moving higher in the overnight session because a potential situation and did not have a egy set up to account for it.

  4. #4
    Demoing on MT5.
    Building confidence on the demo is an ongoing process that will take a few decades.
    I am developing my own whole technique to exchange by.
    I have to learn what price levels respond correctly to my trading egy.
    There's a certain PA I'm looking for and BB signs it well.
    I randomly chosen an indior and landed on Bollinger Bands.
    I decided to fit an indior to me rather than the other way around.
    In the moment I am trading on strictly on technical signals generated on the charts.
    I will expand and develop my own method until I've a robust system that's back-tested.
    Goal: Maintain it so simple it takes no more than any 1 indior typical sense.

    I supposed to post my own signs live but I work a night shift and was past exhausted.
    Live signs moving forward, no bs.

    - teaser chart supported by higher TF
    - Bollinger Band (20,2)
    - 1:1 R/R, SL = TP space, (maximum 2.5%) crude and needs adjusting
    - Signal generated: its a key gt;.lt;
    - Any currency, but prefer GBPUSD
    - Looking for stronger setups, I've a well defined idea of this PA I'm looking for

    2010.2.26 Demo Trades
    - Single Lots
    - Beginning Balance 25,000
    001 USDCHF 17:15 Buy (in) 1.07252
    002 USDJPY 17:29 Buy (in) 88.906
    003 AUDUSD 17:43 Sell (in) 0.89734
    004 AUDCAD 17:45 Sell (in) 0.94431
    005 AUDUSD 17:59 Economy (in) 0.89592 (implementation error )
    006 AUDUSD 18:00 Buy (outside ) 0.89613 100
    007 AUDUSD 18:02 Sell (in)0.89496
    008 AUDCAD 18:18 Buy (outside ) 0.94259 163.02
    009 USDCHF 18:24 Sell (outside ) 1.07466 199.13
    010 AUDUSD 18:24 Buy (outside ) 0.89362 134.00
    011 USDJPY 18:31 Economy (outside ) 88.840 -74.29
    Closed P/L $521.86 ^2.09percent

    #005 was a mistake, it doubled my position size to 2 lots, immediately closed it on #006.
    #002 was shut for a small reduction, price on the daily was near a new low.
    Shouldn't happen to be trading anyhow, it's a Friday, was too tired to realize.
    One thing I want to work on as I grow is never trading drained.
    Over time I will shed more than I earn if trading exhausted.

    I want to code an EA into back-test this joint after I specify some strict MM risk principles.

  5. #5
    I get slightly queasy in my stomach during live or demo.
    Has nothing to do with the fear of losing money.
    Has everything related to getting frued when I am incorrect.

    No single trade is going to have a sizable effect on my account - lose or win.
    Losses are a cost of doing business.
    I understand declines are a part of trading.
    I have to train my belly to understand exactly the exact same.

    My gut will get stronger with experience.
    My trading will likely be as easy as sitting on the sofa watching television.

  6. #6
    Reading Japanese Candlestick Charting Techniques,'' Stevie Nison.
    Back-testing my way a candle at one time back to'06.

  7. #7
    Right On!

    A man There Will Be Blood fan... Your avatar pic has been my desktop for approximately a month! NICE TASTE!!

    Curious to see how things unfold here w/ ya, I'll be keeping an eye on for certain!! Gotta show love to a fellow Pipshake drinker!

    Things go by Friendship in a Hurry like this... D. Plainsview

    that I would HIGHLY recommend checking out the Trading Simulater that is published in my diary. This will let you back-test all of your candlestick data MUCH MUCH MUCH faster!! This will also provide you this capability to test in Forward-test feel with Back-Test data of the closed market weekends.


    I'll be swinging in, seein the way your Pipshake is being drank!

    The best of luck and several pips to you my friend!

  8. #8
    Thank You for the advice and the well wishes Mrezoot!
    There Will Be Blood is gritty and raw, I Really like It.
    The road to success could be messy, dirty, and damn.
    Plainview needed a mix of ingenuity and resilience I want.

    You are the OG Plainview avatar so I'll switch mine up, lol.

    I read anything I could get my hands on, then read it again.
    I am logging hours on the demo.
    Even when not trading the demo I simply observe the PA form.
    Gotta get more screen time!
    There are lots of great journals threads to read as well.
    I will check yours out now.

    I am just going to keep at it until a few clicks.

  9. #9
    Here is an interesting blog entry I discovered on BabyPips.com:

    Fail Forward

    The distinction between winners and winners is the perception of and response to failure.

    You need to learn from your own trading errors and from the mistakes made by other traders.

    The biggest mistake you can make is when you can't admit you made a mistake, accept the consequences for making the mistake, and simply close your commerce.

    What do you do instead?

    You allow your pride take more and you hang on to the losing trade because you can't admit to yourself that you're wrong.

    Pride will result in huge losses, particularly after you have had a great series of wins and you feel like a trading god.

    Swallow your pride and learn to admit when you're wrong and proceed to the next trade.

    Establish your stop loss and never move it backward to give your losing commerce more room to come back around.

    Mistakes must be used a learning experience. Making mistakes is the way you understand what works and what does not. Just do not make the identical mistake twice.

    I hate being wrong.
    I will read this daily before I open my terminal.
    That I will make a mental note to verify my ego at the door.
    I should get in the habit of letting go of losers quickly.
    The sooner I grow from being a sore loser the greater.

  10. #10
    Quote Originally Posted by ;
    Thank you for the advice and the well wishes!
    You're the OG Plainview avatar so that I'll switch mine lol.
    All of the best 2 science!

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