LookAtDaEntries (By AmberLynn)
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LookAtDaEntries Discussion
Jan 11, 2013 at 19:01
669 Views
11 Replies
Member Since Jan 10, 2013
286 posts
Jan 15, 2013 at 15:12
My opinion if you were to ask me:
To make so much and lose it means you are doing something horribly wrong.
I'm thinking you are not using a SL right?
Break up the market into little volumes and work on each to get a decent profitable percentage the rest comes from there. Just keep the risk to reward about the same don't deviate too much from this. Don't try to predict the future too far ahead because no one can just into minor segments will get you much better success. One last thing once you're in the green you would be a fool to make any loss. This alone won me few contests!
To make so much and lose it means you are doing something horribly wrong.
I'm thinking you are not using a SL right?
Break up the market into little volumes and work on each to get a decent profitable percentage the rest comes from there. Just keep the risk to reward about the same don't deviate too much from this. Don't try to predict the future too far ahead because no one can just into minor segments will get you much better success. One last thing once you're in the green you would be a fool to make any loss. This alone won me few contests!
Jan 15, 2013 at 16:00
oH no forexpipcatcher. I was up as much as 650% in this demo, trading the way I would normally. I then got access to a real account (which I have attached for everyone to see), and I just let the demo run. Made no sense to focus on the demo, when I have a real account to work with.
As for risk to reward, I don't use that theory at all. Risk to reward is nothing more then a theory which creates extreme bias. Based on my belief. EUR/JPY had that mega sell of based on news. Which means your risk to reward theory would of gone out the window, because of something you didn't expect.
For the most part looking at the demo and todays real accounts. The trades have been based on the same exact theory. I have been able to earn the same % profit in the real account today, as I did yesterday in the demo. :) Which means I trade the demo as I am the real. I belief this market should be scalped, and profits should be withdrawn as often as possible.
In the real account look at my last position. I took about 3.5 points, which was over 10% profit, yet I left over 15 points on the table based on its current price. I trend never changed on the 1m indicator. Which means my entry was picture perfect. My drawdown in points was no more then 5.
As for risk to reward, I don't use that theory at all. Risk to reward is nothing more then a theory which creates extreme bias. Based on my belief. EUR/JPY had that mega sell of based on news. Which means your risk to reward theory would of gone out the window, because of something you didn't expect.
For the most part looking at the demo and todays real accounts. The trades have been based on the same exact theory. I have been able to earn the same % profit in the real account today, as I did yesterday in the demo. :) Which means I trade the demo as I am the real. I belief this market should be scalped, and profits should be withdrawn as often as possible.
In the real account look at my last position. I took about 3.5 points, which was over 10% profit, yet I left over 15 points on the table based on its current price. I trend never changed on the 1m indicator. Which means my entry was picture perfect. My drawdown in points was no more then 5.
Jan 15, 2013 at 16:01
Member Since Jan 10, 2013
286 posts
Jan 15, 2013 at 20:35
Ok then you're doing OK so you think let me show you how well you're doing.
1) What is your percentage of wins to losses?
2) What is your risk to reward? In scalping usually the risk is massive to a small reward... not my cup of tea.
3) Are you even using stop losses?
Eventually the market will catch up with you is if there is no clear answers to these as well as bias answers.
As far as the EURJPY I strongly recommend you view my style of trading when that massive drawdown occurs which will teach you something. Although I'm not clear on your strategy I reckon I been in your position many times before.
But good luck anyway. All the best.
1) What is your percentage of wins to losses?
2) What is your risk to reward? In scalping usually the risk is massive to a small reward... not my cup of tea.
3) Are you even using stop losses?
Eventually the market will catch up with you is if there is no clear answers to these as well as bias answers.
As far as the EURJPY I strongly recommend you view my style of trading when that massive drawdown occurs which will teach you something. Although I'm not clear on your strategy I reckon I been in your position many times before.
But good luck anyway. All the best.
Jan 15, 2013 at 21:35
forexpipcatcher posted:
Ok then you're doing OK so you think let me show you how well you're doing.
1) What is your percentage of wins to losses?
2) What is your risk to reward? In scalping usually the risk is massive to a small reward... not my cup of tea.
3) Are you even using stop losses?
Eventually the market will catch up with you is if there is no clear answers to these as well as bias answers.
As far as the EURJPY I strongly recommend you view my style of trading when that massive drawdown occurs which will teach you something. Although I'm not clear on your strategy I reckon I been in your position many times before.
But good luck anyway. All the best.
To answer your question... All 3 of your questions can be answered if you look at my stats.. :) As for saying eventually the market will catch up to me. That is like saying 'Eventually you will die!' Well it is what you do before you die which counts. Scalping entails taking HIGH PROBABILITY POSITIONS. Which is why the sl is small, along with the points which you take. I for one on avg have a sl of about 5 to 8 points. My entries are usually the turning point of trend reversals on the 1m chart. Depending on what the 1h says, I won't hold the profit for very long. Yet none the less I'm up 90% on the day in a REAL ACCOUNT. I will also upload a 1500usd account, looking to do the same. My goal is to make as much profit as I can, while protecting it. Risk to reward means NOTHING. You have many people who have excellent risk to reward ratios, but it doesn't translate to them closing the position in the green. :)
Member Since Jan 10, 2013
286 posts
Jan 16, 2013 at 04:11
If you say many people have excellent risk to reward but dont close trades with profit means they don't have a good risk to reward. As IT SAYS RISK TO REWARD of 1:1 is great! If you close with loses all the time means you have hugh risk to little reward.
I canno't see your stats but I'd love to see them... where can I see them? .
I canno't see your stats but I'd love to see them... where can I see them? .
Jan 16, 2013 at 05:00
Risk to reward is calculated BEFORE you take the position. :) Based on the amount of points your willing to lose (sl) and the points you looking to make (tp) Many traders base their bias on that tid bit of information which results in them losing their shirts. As for viewing my trades. I have posted two live accounts here on this website. Just click my name and it should reveal them.
Member Since Jan 10, 2013
286 posts
Jan 16, 2013 at 06:44
Are you trading only one curency because thats all I can see results for?
Member Since Jan 10, 2013
286 posts
Jan 16, 2013 at 11:21
What possible reason do you have to only trade that currency?
Jan 16, 2013 at 12:15
I understand the price action structures more. Not to mention it is utterly working for me. So why should I trade anything else. EUR/JPY also has the highest daily range. So for scalping it gives me a higher chance to earn more points.
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