FourXXXX wrote: Wed Sep 01, 2021 10:38 am As per the method I use here is my first trade today on JPY225 currently I have TP at 100% and stop at 61.8%.

Trade was closed at 61.8%.

FourXXXX, do you trade with news avoidance? I just had 14% of my balance wiped trading US30 and XAUUSD, Just to check the news afterwards to see all these major news: OPEC Meeting, OPEC JMMC Meetings, ADP Non-Farm Employment Change, ISM Manufacturing PMI, Crude Oil Inventories and FOMC member Bostic Speaks. Please do help.

Kenrobert1 wrote: Wed Sep 01, 2021 12:15 pm FourXXXX, do you trade with news avoidance? I just had 14% of my balance wiped trading US30 and XAUUSD, Just to check the news afterwards to see all these major news: OPEC Meeting, OPEC JMMC Meetings, ADP Non-Farm Employment Change, ISM Manufacturing PMI, Crude Oil Inventories and FOMC member Bostic Speaks. Please do help.

Try this it may help to avoid such events.

cheers
Lorne

Kenrobert1 wrote: Wed Sep 01, 2021 12:15 pm FourXXXX, do you trade with news avoidance? I just had 14% of my balance wiped trading US30 and XAUUSD, Just to check the news afterwards to see all these major news: OPEC Meeting, OPEC JMMC Meetings, ADP Non-Farm Employment Change, ISM Manufacturing PMI, Crude Oil Inventories and FOMC member Bostic Speaks. Please do help.

No I don't look at anything to do with news, maybe I should but I don't. Been led astray too many times in the past with news, now I just stay in my own bubble.

I am risking no more than 0.5% on each trade, I will increase that as I get better with this system. So I would have to be wrong more than 28 times to lose 14%. All I can suggest is see if you can work out where you went wrong, reduce your lot sizes to the bare minimum or go onto demo until you can show consistent profits. I have been trading on and off since 1995 with paper charts back then. This system is the best I have used so I suggest sticking with it learn and it will happen.

Musashi wrote: Wed Sep 01, 2021 11:29 am Nice work above FourXXXX!

My bite this morning at AUS200 - Bearish signals - Late entry just to make sure it was not a fakeout at the start.

Happy with the trade.

Feedback welcome.

Awesome ...Keep it up.

FourXXXX wrote: Wed Sep 01, 2021 10:38 am As per the method I use here is my first trade today on JPY225 currently I have TP at 100% and stop at 61.8%.

Trade was closed at 61.8%.

I always learn something new from you. Outstanding.

Thanks for posting.

FourXXXX wrote: Wed Sep 01, 2021 12:47 pm I am risking no more than 0.5% on each trade, I will increase that as I get better with this system. So I would have to be wrong more than 28 times to lose 14%.

So you figure 14% is the max. dropdown you could live with (for the time being).
How did you reach the number 28? Did you back- and forward-test your win rate and know that this is your probable worst case scenario (very professional) or is it just a random number you came up with (very gambling-style)?
Not being mathematically-minded I may be wrong but I think it would be less than 14% dropdown (taking the original sum as the basis of calculation) because as you continue to lose the total sum of your capital decreases: therefore 0.5% would be less and less each time.
And then again, of course, there'd be the cost of trading (broker, market order vs limit order etc).

Banzai has released Pivot Points Lines v 1.3 in button format:

viewtopic.php?p=1295443054&sid=5d0b2120 ... 1295443054

Maybe you could work on this indicator to add the additional required levels.

FourXXXX wrote: Tue Aug 31, 2021 9:26 am Have a look at the attached indicator, does it do what you want, I can easily modify it. As it is you will need to load it again for weeks HL.

josi wrote: Wed Sep 01, 2021 3:51 pm So you figure 14% is the max. dropdown you could live with (for the time being).
How did you reach the number 28? Did you back- and forward-test your win rate and know that this is your probable worst case scenario (very professional) or is it just a random number you came up with (very gambling-style)?
Not being mathematically-minded I may be wrong but I think it would be less than 14% dropdown (taking the original sum as the basis of calculation) because as you continue to lose the total sum of your capital decreases: therefore 0.5% would be less and less each time.
And then again, of course, there'd be the cost of trading (broker, market order vs limit order etc).

I never said 14% is the maximum I could live with that is @Kenrobert1's number.

Yes, I agree with this,

"Not being mathematically-minded I may be wrong but I think it would be less than 14% dropdown (taking the original sum as the basis of calculation) because as you continue to lose the total sum of your capital decreases: therefore 0.5% would be less and less each time."

Go back and read the post again a little more carefully before you try to criticize me, this is what I said: "So I would have to be wrong more than 28 times to lose 14%." CAPISCE!

As for brokerage costs that is already factored into the 0.5% risk by my EA that I use for placing trades.


What do you hope to gain with your criticism of me and others on here? In future, I will not be responding to your trolling!

josi wrote: Wed Sep 01, 2021 3:51 pm So you figure 14% is the max. dropdown you could live with (for the time being).
How did you reach the number 28? Did you back- and forward-test your win rate and know that this is your probable worst case scenario (very professional) or is it just a random number you came up with (very gambling-style)?
Not being mathematically-minded I may be wrong but I think it would be less than 14% dropdown (taking the original sum as the basis of calculation) because as you continue to lose the total sum of your capital decreases: therefore 0.5% would be less and less each time.
And then again, of course, there'd be the cost of trading (broker, market order vs limit order etc).

Hi Josi,
I think you have the wrong end of the stick. FourXXXX is just showing the courtesy of replying and informing another user that he uses half a percent as his risk per trade. So a rough 14% x 1/2 = 28. Simple math I think.

I see you are a senior member and I am fairly new in posting to this forum (even though I have been following for a while now). The question I have for you is whether you realise you are being very negative - I think this is called "Trolling".

Can I ask, what is it exactly that you are contributing to the conversation? Or was this just a brain-fart?

FourXXXX wrote: Wed Sep 01, 2021 4:44 pm What do you hope to gain with your criticism of me and others on here? In future, I will not be responding to your trolling!

Here we go again - "trolling"
What else is new?
"buy the dip" and "trolling": what has this thread come to?
You do what you have to do, pal!