Profit / loss analysis and trading talks

Raven1209 posted:
@MarcellusLux
Caught the price nudging past the TP after I closed out—classic, right?:) Though I was about 90% confident I'd hit that level eventually, but those 10% doubts...
Regarding the SL, it was more of a guideline—marked in red but not formally set. The price went close the first time (1.07931), but didn't reach the red line, and the second peak (1.07892) was even lower, which was reassuring. No major improvements to my strategy just yet since the profit was made. But definitely thinking about a more patient stance going forward.

MarcellusLux posted:

Raven1209 posted:
@MarcellusLux
Caught the price nudging past the TP after I closed out—classic, right?:) Though I was about 90% confident I'd hit that level eventually, but those 10% doubts...
Regarding the SL, it was more of a guideline—marked in red but not formally set. The price went close the first time (1.07931), but didn't reach the red line, and the second peak (1.07892) was even lower, which was reassuring. No major improvements to my strategy just yet since the profit was made. But definitely thinking about a more patient stance going forward.

You come across as a prudent trader. I hope that your trading will reward you for your work. It's good practice to have a maximum possible risk level, and not having a set stop loss level programmatically does not make your trade any riskier.

Gert12 posted:

MarcellusLux posted:

Raven1209 posted:
@MarcellusLux
Caught the price nudging past the TP after I closed out—classic, right?:) Though I was about 90% confident I'd hit that level eventually, but those 10% doubts...
Regarding the SL, it was more of a guideline—marked in red but not formally set. The price went close the first time (1.07931), but didn't reach the red line, and the second peak (1.07892) was even lower, which was reassuring. No major improvements to my strategy just yet since the profit was made. But definitely thinking about a more patient stance going forward.

You come across as a prudent trader. I hope that your trading will reward you for your work. It's good practice to have a maximum possible risk level, and not having a set stop loss level programmatically does not make your trade any riskier.

Why doesn't the absence of a stop loss make trading riskier? Most people say that placing a stop loss is necessary to minimize risk.

RallyRider posted:

Gert12 posted:

MarcellusLux posted:

Raven1209 posted:
@MarcellusLux
Caught the price nudging past the TP after I closed out—classic, right?:) Though I was about 90% confident I'd hit that level eventually, but those 10% doubts...
Regarding the SL, it was more of a guideline—marked in red but not formally set. The price went close the first time (1.07931), but didn't reach the red line, and the second peak (1.07892) was even lower, which was reassuring. No major improvements to my strategy just yet since the profit was made. But definitely thinking about a more patient stance going forward.

You come across as a prudent trader. I hope that your trading will reward you for your work. It's good practice to have a maximum possible risk level, and not having a set stop loss level programmatically does not make your trade any riskier.

Why doesn't the absence of a stop loss make trading riskier? Most people say that placing a stop loss is necessary to minimize risk.

Not using a stop-loss can make trading riskier because it leaves your positions open to the full brunt of market volatility. Most traders agree that a stop loss is a critical safeguard, as it automatically exits a trade at a predefined loss threshold, helping to prevent emotional decision-making and protect your capital from significant downturns.

Gert12 posted:

MarcellusLux posted:

Raven1209 posted:
@MarcellusLux
Caught the price nudging past the TP after I closed out—classic, right?:) Though I was about 90% confident I'd hit that level eventually, but those 10% doubts...
Regarding the SL, it was more of a guideline—marked in red but not formally set. The price went close the first time (1.07931), but didn't reach the red line, and the second peak (1.07892) was even lower, which was reassuring. No major improvements to my strategy just yet since the profit was made. But definitely thinking about a more patient stance going forward.

You come across as a prudent trader. I hope that your trading will reward you for your work. It's good practice to have a maximum possible risk level, and not having a set stop loss level programmatically does not make your trade any riskier.

Why doesn't the absence of a stop loss make trading riskier? Most people say that placing a stop loss is necessary to minimize risk.

MarcellusLux posted:
LUX trading today was quick and didn't follow any long term goals. The task was to catch the minimum impulse after the impact of key historical levels.
The EUR/USD was close to continuing to rise and I was ready to accept some drawdown, but the sell chosen due to a clear MACD signal on the 30-minute chart and a high RSI level in the overbought zone. The price was not ready to break through the key level of 1.08800 and consolidate for further testing of 1.08900.
The GBP/JPY is currently in a very promising position for continued growth. But I was not ready to hold the position for a long time, fearing the psychological aspect and the growth cancelling due to the approach to 70 RSI and the long term developing MACD divergence, which can be seen on the hourly chart. I opened a short-term position after several attempts to break through the 200.400 and MACD signal with a move to the positive value zone on the 15-minute chart. However, the important fact is that after breaking through the 2015 high key level at 196.00, GBP/JPY has not been at its current price level above the 200.00 mark since 2008.
https://www.myfxbook.com/files/MarcellusLux/recent_trades_May_28_%28IedYE8%29_for_LK.png

MarcellusLux posted:
LUX trading today was quick and didn't follow any long term goals. The task was to catch the minimum impulse after the impact of key historical levels.
The EUR/USD was close to continuing to rise and I was ready to accept some drawdown, but the sell chosen due to a clear MACD signal on the 30-minute chart and a high RSI level in the overbought zone. The price was not ready to break through the key level of 1.08800 and consolidate for further testing of 1.08900.
The GBP/JPY is currently in a very promising position for continued growth. But I was not ready to hold the position for a long time, fearing the psychological aspect and the growth cancelling due to the approach to 70 RSI and the long term developing MACD divergence, which can be seen on the hourly chart. I opened a short-term position after several attempts to break through the 200.400 and MACD signal with a move to the positive value zone on the 15-minute chart. However, the important fact is that after breaking through the 2015 high key level at 196.00, GBP/JPY has not been at its current price level above the 200.00 mark since 2008.
https://www.myfxbook.com/files/MarcellusLux/recent_trades_May_28_%28IedYE8%29_for_LK.png

ChaKie posted:

MarcellusLux posted:
LUX trading today was quick and didn't follow any long term goals. The task was to catch the minimum impulse after the impact of key historical levels.
The EUR/USD was close to continuing to rise and I was ready to accept some drawdown, but the sell chosen due to a clear MACD signal on the 30-minute chart and a high RSI level in the overbought zone. The price was not ready to break through the key level of 1.08800 and consolidate for further testing of 1.08900.
The GBP/JPY is currently in a very promising position for continued growth. But I was not ready to hold the position for a long time, fearing the psychological aspect and the growth cancelling due to the approach to 70 RSI and the long term developing MACD divergence, which can be seen on the hourly chart. I opened a short-term position after several attempts to break through the 200.400 and MACD signal with a move to the positive value zone on the 15-minute chart. However, the important fact is that after breaking through the 2015 high key level at 196.00, GBP/JPY has not been at its current price level above the 200.00 mark since 2008.
https://www.myfxbook.com/files/MarcellusLux/recent_trades_May_28_%28IedYE8%29_for_LK.png

Interesting take! rsi, macd, and ema are classic combinations of indicators that help achieve good accuracy in trading.

lexusxxx posted:

MarcellusLux posted:
LUX trading today was quick and didn't follow any long term goals. The task was to catch the minimum impulse after the impact of key historical levels.
The EUR/USD was close to continuing to rise and I was ready to accept some drawdown, but the sell chosen due to a clear MACD signal on the 30-minute chart and a high RSI level in the overbought zone. The price was not ready to break through the key level of 1.08800 and consolidate for further testing of 1.08900.
The GBP/JPY is currently in a very promising position for continued growth. But I was not ready to hold the position for a long time, fearing the psychological aspect and the growth cancelling due to the approach to 70 RSI and the long term developing MACD divergence, which can be seen on the hourly chart. I opened a short-term position after several attempts to break through the 200.400 and MACD signal with a move to the positive value zone on the 15-minute chart. However, the important fact is that after breaking through the 2015 high key level at 196.00, GBP/JPY has not been at its current price level above the 200.00 mark since 2008.
https://www.myfxbook.com/files/MarcellusLux/recent_trades_May_28_%28IedYE8%29_for_LK.png

If you look in the short term, the pair reached the level of 200.00 and began a slight rebound downwards. But in the future I am betting on the growth of the GBPJPY.

rightstufffred posted:
indicators can be helpful as long as you know their limitations and what they are really showing. The problem comes when people think that indicators produce trade signals

MarcellusLux posted:

Gert12 posted:

MarcellusLux posted:

Raven1209 posted:
@MarcellusLux
Caught the price nudging past the TP after I closed out—classic, right?:) Though I was about 90% confident I'd hit that level eventually, but those 10% doubts...
Regarding the SL, it was more of a guideline—marked in red but not formally set. The price went close the first time (1.07931), but didn't reach the red line, and the second peak (1.07892) was even lower, which was reassuring. No major improvements to my strategy just yet since the profit was made. But definitely thinking about a more patient stance going forward.

You come across as a prudent trader. I hope that your trading will reward you for your work. It's good practice to have a maximum possible risk level, and not having a set stop loss level programmatically does not make your trade any riskier.

Why doesn't the absence of a stop loss make trading riskier? Most people say that placing a stop loss is necessary to minimize risk.

The use of stop losses is situational and can be justified or harmful during various market events.
If a trader starts using stop loss in any case (using just for the fact of usage), this will lead to losses and cause dependence on stop levels. I consider a much more important aspect to be the correct assessment of probabilities and control of possible risk taking into account these probabilities.
If it seems to you that I am standing against using stop losses, then you are wrong. If you look at my trading, you will notice that I use this risk control option, but not on 100% of my trades.

lexusxxx posted:

MarcellusLux posted:
LUX trading today was quick and didn't follow any long term goals. The task was to catch the minimum impulse after the impact of key historical levels.
The EUR/USD was close to continuing to rise and I was ready to accept some drawdown, but the sell chosen due to a clear MACD signal on the 30-minute chart and a high RSI level in the overbought zone. The price was not ready to break through the key level of 1.08800 and consolidate for further testing of 1.08900.
The GBP/JPY is currently in a very promising position for continued growth. But I was not ready to hold the position for a long time, fearing the psychological aspect and the growth cancelling due to the approach to 70 RSI and the long term developing MACD divergence, which can be seen on the hourly chart. I opened a short-term position after several attempts to break through the 200.400 and MACD signal with a move to the positive value zone on the 15-minute chart. However, the important fact is that after breaking through the 2015 high key level at 196.00, GBP/JPY has not been at its current price level above the 200.00 mark since 2008.
https://www.myfxbook.com/files/MarcellusLux/recent_trades_May_28_%28IedYE8%29_for_LK.png

If you look in the short term, the pair reached the level of 200.00 and began a slight rebound downwards. But in the future I am betting on the growth of the GBPJPY.

RrrubR posted:

lexusxxx posted:

MarcellusLux posted:
LUX trading today was quick and didn't follow any long term goals. The task was to catch the minimum impulse after the impact of key historical levels.
The EUR/USD was close to continuing to rise and I was ready to accept some drawdown, but the sell chosen due to a clear MACD signal on the 30-minute chart and a high RSI level in the overbought zone. The price was not ready to break through the key level of 1.08800 and consolidate for further testing of 1.08900.
The GBP/JPY is currently in a very promising position for continued growth. But I was not ready to hold the position for a long time, fearing the psychological aspect and the growth cancelling due to the approach to 70 RSI and the long term developing MACD divergence, which can be seen on the hourly chart. I opened a short-term position after several attempts to break through the 200.400 and MACD signal with a move to the positive value zone on the 15-minute chart. However, the important fact is that after breaking through the 2015 high key level at 196.00, GBP/JPY has not been at its current price level above the 200.00 mark since 2008.
https://www.myfxbook.com/files/MarcellusLux/recent_trades_May_28_%28IedYE8%29_for_LK.png

If you look in the short term, the pair reached the level of 200.00 and began a slight rebound downwards. But in the future I am betting on the growth of the GBPJPY.

It feels like you trade without using indicators at all. How do you trade without indicators??