GBPUSD thoughts

[willoneau]

I enjoyed watching some youtube vids of a prop firm and how they focused on trader personal management and improvement highlighting the very importance of controlling ME factor. Also trading returns were mouth watering by the way

 

[willoneau]

I enjoyed watching some youtube vids of a prop firm and how they focused on trader personal management and improvement highlighting the very importance of controlling ME factor. Also trading returns were mouth watering by the way

They said the biggest improvement for the year was due to forcing the traders to basically fill out a score card each day after trading.
So by posting my thoughts here I too am forcing myself to be accountable .
I find it hard to write in journal as too easy to say later and no one to scrutinize it.

 

[willoneau]

Exit long position x2 2992
0.1 x1 loss ( slippage on Frankfurt open should have been 4 pips profit)
0.1 x1 loss

 

[willoneau]

Entry short x2 2992

 

[willoneau]

close x1 short 3006
13.6 pips loss

Entry long position x2 3006

close x1 short position 3009
15.7 pips loss

 

[willoneau]

Close x1 long 2996
10.2 pips loss

 

[willoneau]

Exit position 2989,
17.3 pips loss

 

[andymac]

They said the biggest improvement for the year was due to forcing the traders to basically fill out a score card each day after trading.
So by posting my thoughts here I too am forcing myself to be accountable .
I find it hard to write in journal as too easy to say later and no one to scrutinize it.

afternoon Will.
any chance you could post a link for these?

 

[andymac]

currently short us500 from 2716, isl 2722, target 2690
stalking a long on gold but looks more like setup will fail at this stage.

have been thinking today about some of your work last night - is great you are making me think thank you- i need to write a better response re- overtrading so will attempt that tonight.

 

[willoneau]

After seeing volatility when market opened and the last two days have decided to drop down to 3min chart when market opens, the 5min chart is fine before the open. (5 min lagging too much)

 

[willoneau]

afternoon Will.
any chance you could post a link for these?

Hi andymac, I was just seaching through net looking at risk control when I came across it, so unable to link it unless I spend the time searching. I will have a look when I get chance and link if possible. (not linked here before)

 

[willoneau]

entry long x2 2975,
close x1 long 2966,
8.6 pips loss

 

[willoneau]

I have hoped my thread would not only make me think but be helpful in any small way to others.

 

[willoneau]

currently short us500 from 2716, isl 2722, target 2690
stalking a long on gold but looks more like setup will fail at this stage.

have been thinking today about some of your work last night - is great you are making me think thank you- i need to write a better response re- overtrading so will attempt that tonight.

What time frame you using to trade?

 

[willoneau]

Having a look at US500 chart, look good until market opens then volatile. Do you trade it once market open?

 

[andymac]

most trades 5min charts to manage the trade. i am trying to go to longer timeframes.
look at hourly or longer at start of day to find where we are
then use 15min charts to find a setup and entry
but then 5min as i watch it, drag stops along tightly behind sometimes end up on even shorter timeframes.
too many timeframes and too shorter timeframes.
best trades are the ones where i leave an order, stop and target on a 15 minute chart, walk away and come back see the result sometime later.
as we were discussing last night, once you sit down and screen watch, you (i) can't help getting involved
this is my ME issue which i need to manage.

 

[willoneau]

currently short us500 from 2716, isl 2722, target 2690
stalking a long on gold but looks more like setup will fail at this stage.

have been thinking today about some of your work last night - is great you are making me think thank you- i need to write a better response re- overtrading so will attempt that tonight.

I have been thinking about that myself and how to address it.

 

[andymac]

Having a look at US500 chart, look good until market opens then volatile. Do you trade it once market open?

no t usually i don't like it around opening times, Us or euro opens, i prefer to leave it alone . sometimes i see a good setup with entry a fair way from the current price will leave an order and watch the open, but there is just about always a bit of whipsawing which kills short timeframe trades.
it trades quite well through asian and euro times, is always better at times like last few weeks when market volatility is up.

 

[willoneau]

most trades 5min charts to manage the trade. i am trying to go to longer timeframes.
look at hourly or longer at start of day to find where we are
then use 15min charts to find a setup and entry
but then 5min as i watch it, drag stops along tightly behind sometimes end up on even shorter timeframes.
too many timeframes and too shorter timeframes.
best trades are the ones where i leave an order, stop and target on a 15 minute chart, walk away and come back see the result sometime later.
as we were discussing last night, once you sit down and screen watch, you (i) can't help getting involved
this is my ME issue which i need to manage.

Do the walk away trades justify a system of their own? eg, are there enough trading opportunities or examples to check?

 

[willoneau]

no t usually i don't like it around opening times, Us or euro opens, i prefer to leave it alone . sometimes i see a good setup with entry a fair way from the current price will leave an order and watch the open, but there is just about always a bit of whipsawing which kills short timeframe trades.
it trades quite well through asian and euro times, is always beetroot at times like last few weeks when market volatility is up.

wish i had left open alone tonight too