GBPUSD thoughts

[willoneau]

Ok as stated earlier I said I would stop trading when Europe closed at 11:30pm, short x2 with stops so see how it turns out in the morning.

 

[willoneau]

Exit market 2976,
23 pip loss
23 pip loss

 

[willoneau]

Update
8 wins
21 losses
av win 12.21
av loss7.04
av return -1.68
%return -10.04
expectancy -0.25

 

[willoneau]

Noticed my ME factor not helping and strategy not working after the 20 trading sample. So i have added a directional bias to my 30 min chart help stop my ME bias and reduce entry chop I hope. Next 20 trades please.

 

[willoneau]

Also need to determine my length of trading time, so I will start my trading day at 1:30pm until 1.30am giving me two hours of the US market.

 

[willoneau]

Entry short x2 2998
reduced position size to reflect losses

 

[willoneau]

On reflection from yesterday,
early in the move when I was long I felt I needed to be long bias but I stayed short bias (ME factor), so when I became both short and long I was taken out of both positions but the ME factor (short bias) didn't allow me to take the long re-entry signal I got and so missed the large move up, fighting it with my short bias and staying out the move because no short signal generated.

 

[willoneau]

Entry short x2 2998
reduced position size to reflect losses

As a side note with new bias filter in place this trade becomes a counter trend trade.

 

[willoneau]

Thanx for the feed back peter2 and Darc Knight showing you like my posting encourages me to continue to post my thoughts and trades.

 

[peter2]

I liked that you posted your results. I don't care that you're losing at the moment. I liked that you want to monitor them as they'll provide good motivation to improve.

I sometimes give myself two chances to get into an anticipated move, but once I've had two losses the market is telling me that I'm wrong and to get out or change my bias.

 

[willoneau]

Close x1 2991
6.8 pips profit
x1 to BE (tweak)

 

[willoneau]

Entry short x2 2987

 

[willoneau]

I liked that you posted your results. I don't care that you're losing at the moment. I liked that you want to monitor them as they'll provide good motivation to improve.

I sometimes give myself two chances to get into an anticipated move, but once I've had two losses the market is telling me that I'm wrong and to get out or change my bias.

With my account size and risk management I don't have any emotion attached to taking the signals, I just record the results and add to my sample size . Next 20 trades please

 

[willoneau]

I liked that you posted your results. I don't care that you're losing at the moment. I liked that you want to monitor them as they'll provide good motivation to improve.

I sometimes give myself two chances to get into an anticipated move, but once I've had two losses the market is telling me that I'm wrong and to get out or change my bias.

Do you think changing your bias after two losses is good?
you could have more losses in a row as part of normal draw down but still be right in regard to your bias and plan.

 

[peter2]

The two losses refer to each setup. Sure, it's possible that our next four setups don't work and we have a longer sequence of losses. I accept that I'm wrong most of the time before having two losses. I don't keep fighting the market bias.

 

[willoneau]

Close x1 2987
3.4 pips loss

 

[willoneau]

The two losses refer to each setup. Sure, it's possible that our next four setups don't work and we have a longer sequence of losses. I accept that I'm wrong most of the time before having two losses. I don't keep fighting the market bias.

I see, so you have two attempts at your setup or signal to take a trade then move on to next setup if not in.

 

[willoneau]

I don't think the market has a bias only our interpretation (ME factor) we place on it in relation to our time frame

 

[willoneau]

Exit short position 2991,
3.7 pips loss
7.3 pips profit

 

[willoneau]

Entry long x2 2992