_somehow-1 (Theo forex_trader_36599)
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_somehow-1Thảo luận
Jan 12, 2012 at 17:17
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5 Replies
forex_trader_36599
Tham gia từ May 13, 2011
1341bài viết
Jan 18, 2012 at 11:37
Mind Set for SemiAutomated trading:
1- dont get upset for missing a winning trade. Better Trades Down The Road.
2- I stop trading for sometime in the case of rule 1
3- trust your self but not Too Much
4- try to guess the next move of market. this is like a chess game but one sided. ( market does not need to guess trader next move )
5- exit when you reach the Profit level. dont change it.
6- exit when you reach the loss level. dont change it.
7- watch market and get the mood before start trading.
8- stat with target Risk level then decrease it after reached the daily goal. keep trading with 1/10 Risk level.
9- there can not be a trade taken for some days. this does not mean that there will not be in the coming days.
10- always trade withe the experienced pairs.
11- always watch news.
1- dont get upset for missing a winning trade. Better Trades Down The Road.
2- I stop trading for sometime in the case of rule 1
3- trust your self but not Too Much
4- try to guess the next move of market. this is like a chess game but one sided. ( market does not need to guess trader next move )
5- exit when you reach the Profit level. dont change it.
6- exit when you reach the loss level. dont change it.
7- watch market and get the mood before start trading.
8- stat with target Risk level then decrease it after reached the daily goal. keep trading with 1/10 Risk level.
9- there can not be a trade taken for some days. this does not mean that there will not be in the coming days.
10- always trade withe the experienced pairs.
11- always watch news.
forex_trader_36599
Tham gia từ May 13, 2011
1341bài viết
Jan 18, 2012 at 11:38
Last 4 days I traded as I had mentioned with earlier posts at my thread as SemiAutomated with 1 min chart and also with 3angular pairs EURUSD GBPUSD EURGBP.
I traded only the patterns from memory and had quite successful.
there is no certain rules apart from mind set as this MA or that MACD or what ever. instead I am using most common indicators with default setup ( to determine patterns more clear but most of the time I use bars ) + TL which calculated and drawn by an EA. this gives me a lot flexibility and different exit and entry points and strategies.
I will keep posting you can also follow from _somehow if you wish.
I traded only the patterns from memory and had quite successful.
there is no certain rules apart from mind set as this MA or that MACD or what ever. instead I am using most common indicators with default setup ( to determine patterns more clear but most of the time I use bars ) + TL which calculated and drawn by an EA. this gives me a lot flexibility and different exit and entry points and strategies.
I will keep posting you can also follow from _somehow if you wish.
forex_trader_36599
Tham gia từ May 13, 2011
1341bài viết
Jan 18, 2012 at 11:39
Must confess that I was not expect that much success with the new SemiAutomated trading.
Fortunately it is working well.
the Lot differencies are the result of my Risk management. the lots are between 0.01 to 2.00. I dont use grid. what I use is with some trades average entry Price. also closing trades when reach the target Loss.
The main point is I watch screen every second of trade and react according to market behaviour change corolated with 3angular price actions.
Fortunately it is working well.
the Lot differencies are the result of my Risk management. the lots are between 0.01 to 2.00. I dont use grid. what I use is with some trades average entry Price. also closing trades when reach the target Loss.
The main point is I watch screen every second of trade and react according to market behaviour change corolated with 3angular price actions.
forex_trader_36599
Tham gia từ May 13, 2011
1341bài viết
Jan 21, 2012 at 13:56
self criticism:
when I started to Demo trading with new semiauto system I was quite sure about success and started well until I OVER TRUST MY TRADES.
I traded as a Live account and try to stay cool and not too greedy. but last 2 days I started to trade more frequent and without decreasing risk as I have planned. also to be watched ( that account has no tracker yet but publishing is enough to feel like that ) started to effect my trades. manly I was thinking about Expectancy+Loosers vs Winners and %DD. those psychology made me stay longer with the trades and force me to change the risk and TP SL desecions ( instead of thinking the trade and focusing on charts I started to think the published results and how my next action will effect that results and made huge mistakes ). that psychology is killer. currently I have no open trades and floating P/L. next week I will start trading without thinking the published results. I will not make it private due I want to handle and over come that psychology with demo test. Also when missed the cycle ( the cycle of price actions ) and gone reverse must stop and relax until catching the correct cycle. but also as many traders know it is much more difficoult to stop when you loosing vs when you winning.
I stop my self with 'SHUTTING DOWN' the machine.😲
all those mistakes make me loose %4 of %8 on Friday and my %DD increased from %2.50 to %8.50 just in 3 hours.🙄
- OVER TRUST
- PSYCHOLOGY
- GREED
walker
when I started to Demo trading with new semiauto system I was quite sure about success and started well until I OVER TRUST MY TRADES.
I traded as a Live account and try to stay cool and not too greedy. but last 2 days I started to trade more frequent and without decreasing risk as I have planned. also to be watched ( that account has no tracker yet but publishing is enough to feel like that ) started to effect my trades. manly I was thinking about Expectancy+Loosers vs Winners and %DD. those psychology made me stay longer with the trades and force me to change the risk and TP SL desecions ( instead of thinking the trade and focusing on charts I started to think the published results and how my next action will effect that results and made huge mistakes ). that psychology is killer. currently I have no open trades and floating P/L. next week I will start trading without thinking the published results. I will not make it private due I want to handle and over come that psychology with demo test. Also when missed the cycle ( the cycle of price actions ) and gone reverse must stop and relax until catching the correct cycle. but also as many traders know it is much more difficoult to stop when you loosing vs when you winning.
I stop my self with 'SHUTTING DOWN' the machine.😲
all those mistakes make me loose %4 of %8 on Friday and my %DD increased from %2.50 to %8.50 just in 3 hours.🙄
- OVER TRUST
- PSYCHOLOGY
- GREED
walker
forex_trader_36599
Tham gia từ May 13, 2011
1341bài viết
Jan 28, 2012 at 13:48
Advantages:
- trade duration is short and this prevent trades from market changes.
- trade target is small again this prevent trades from market changes and this is achivable.
- I do not enter Breakout this prevent me from big looses
- my entry is when market is moving against my trade. this gives me + slippage and support low target level.
- there are no certain rules for the trades apart from mind set and daily goal. this make system flexible and adapt new market condition very easily.
- watching news during trading again adapting new market condition very easily.
- average 1/1 R/R ratio.
- trades are under control %100. NO trade & leave, watch and react.
Disadvantages:
- I am not using hard stop and hard limit. this is handling manually by me. that can be improved and added new features to the semiautomated system.
- on exit slippage is still an issue. due my exit with the price move. this will be monitored when live traded.
- low target may not be wellcome by the brokers but I am also planning to run some other EA s at the same account to prevent that in the case of broker complaints.
- %100 news tracking required.
- %100 chart watching required.
- trade duration is short and this prevent trades from market changes.
- trade target is small again this prevent trades from market changes and this is achivable.
- I do not enter Breakout this prevent me from big looses
- my entry is when market is moving against my trade. this gives me + slippage and support low target level.
- there are no certain rules for the trades apart from mind set and daily goal. this make system flexible and adapt new market condition very easily.
- watching news during trading again adapting new market condition very easily.
- average 1/1 R/R ratio.
- trades are under control %100. NO trade & leave, watch and react.
Disadvantages:
- I am not using hard stop and hard limit. this is handling manually by me. that can be improved and added new features to the semiautomated system.
- on exit slippage is still an issue. due my exit with the price move. this will be monitored when live traded.
- low target may not be wellcome by the brokers but I am also planning to run some other EA s at the same account to prevent that in the case of broker complaints.
- %100 news tracking required.
- %100 chart watching required.
forex_trader_36599
Tham gia từ May 13, 2011
1341bài viết
Jan 28, 2012 at 13:48
I had added auto TP set to _somehow. also added a hedge trade to TP*3 distance in the case of very fast reverse price move. this will hedge the trade and then I will handle it manually
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