Whats your record for the most losing trades in a row?

[Caseynotes]

10 minutes ago, dmedin said:

I wonder if they've watched the TradingRush videos, Tom

 

is this the new site since Youtube was causing problems? not had a chance to look at it yet.

https://tradingrush.net/

[dmedin]

11 minutes ago, Caseynotes said:

is this the new site since Youtube was causing problems? not had a chance to look at it yet.

https://tradingrush.net/

It's great, introduced me to how you can backtest without having to program.

Maybe we should all learn to program? People who can't program have no place in tomorrow's economy 😢 

[dmedin]

37 minutes ago, dmedin said:

People who can't program have no place in tomorrow's economy

People who can't program will have to have good social skills (be good at taking other people's sh!t)

People, like me, who don't program and aren't people persons are screwed  

[DavyJones]

1 hour ago, Caseynotes said:

is this the new site since Youtube was causing problems? not had a chance to look at it yet.

https://tradingrush.net/

I experimented a lot with his indicators and testing in PRT, I really couldn't find any conclusive evidence like he did. Fiddled around with the code for about a month 

 

 

[dmedin]

Just now, DavyJones said:

Fiddled around with the code for about a month

 

The placing of stop losses and limits doesn't really lend itself to programming as far as I can tell.

 

[DavyJones]

Just now, dmedin said:

The placing of stop losses and limits doesn't really lend itself to programming as far as I can tell.

 

well yeah that's a very good point, I am still struggling with stops on IG, Its baffling how I put on a stop the candle wicks rises up to it , Just right before the price hits it  I cancel the stop and the wick retracts. I have see this about 20 times now   . 

[Caseynotes]

13 minutes ago, DavyJones said:

I experimented a lot with his indicators and testing in PRT, I really couldn't find any conclusive evidence like he did. Fiddled around with the code for about a month 

 

 

All of the indicators work to some degree or another, it's a case of finding one that suits your style of trading as well as your preferential market and time frame.

Maybe add a filter indicator that keeps you out of more bad trades than good ones and also know the market (chart) structure on which to apply it.  

Remove the thinking and guess work and trade the plan like an algo would.

T

[DavyJones]

3 minutes ago, Caseynotes said:

All of the indicators work to some degree or another, it's a case of finding one that suits your style of trading as well as your preferential market and time frame.

Maybe add a filter indicator that keeps you out of more bad trades than good ones and also know the market (chart) structure on which to apply it.  

Remove the thinking and guess work and trade the plan like an algo would.

Its difficult to know whether to reply on pure price action, indicators or news. I suspect a mixture of all is the way forward . For example I have been researching Gold and despite it all suggesting buy (and my subsequent loss) , last friday's and early this week sell off was due to funds monetizing profits of which they may well reload . 

[Caseynotes]

6 minutes ago, DavyJones said:

Its difficult to know whether to reply on pure price action, indicators or news. I suspect a mixture of all is the way forward . For example I have been researching Gold and despite it all suggesting buy (and my subsequent loss) , last friday's and early this week sell off was due to funds monetizing profits of which they may well reload . 

yes, better to have things line up rather than hoping one thing on it's own will be strong enough ( unless it's major news). Fundamentals with technicals,  multi time frame trend oscillators all aligned with each other and with price action which will always have the final say and be the actual trigger.

[HMB]

On 10/08/2020 at 11:59, jlz said:

More than -17K in three days.

 

It took me 2 years to recover it  

well done on the recovery (not joking)

[HMB]

On 11/08/2020 at 08:16, DavyJones said:

well yeah that's a very good point, I am still struggling with stops on IG, Its baffling how I put on a stop the candle wicks rises up to it , Just right before the price hits it  I cancel the stop and the wick retracts. I have see this about 20 times now   . 

same here.  it's the norm for me when using tight stops

[dmedin]

10 hours ago, HMB said:

same here.  it's the norm for me when using tight stops

So you are following the advice to put stops just above resistance and just below support, and not at 'obvious' round numbers etc?

In a strong uptrend, put a stop beneath a very bullish candle and vice versa.

[HMB]

6 hours ago, dmedin said:

So you are following the advice to put stops just above resistance and just below support, and not at 'obvious' round numbers etc?

In a strong uptrend, put a stop beneath a very bullish candle and vice versa.

thank you - yes, when I did that it worked better.  (however I frequently had revenge trading phases with complete loss of control, when I tried all kinds of extremely low probability stuff, and used often just the minimum stop distance.  it becomes more like lotto then... working hard on strategies to avoid that from happening again  - like taking breaks, planning for adverse scenarios, planning the trade and trading the plan, etc.)

[dmedin]

12 hours ago, HMB said:

thank you - yes, when I did that it worked better.  (however I frequently had revenge trading phases with complete loss of control, when I tried all kinds of extremely low probability stuff, and used often just the minimum stop distance.  it becomes more like lotto then... working hard on strategies to avoid that from happening again  - like taking breaks, planning for adverse scenarios, planning the trade and trading the plan, etc.)

 

Trade mechanically.

Read 'Trading in the zone' by Mark Douglas and try some of the strategies used here www.tradingrush.net

 

[HMB]

2 hours ago, dmedin said:

Trade mechanically.

Read 'Trading in the zone' by Mark Douglas and try some of the strategies used here www.tradingrush.net

thank you - had a look at the breakout tips - explains nicely the issue with tight stops near resistance/support levels.  also listened to a free excerpt of the audio-book version of trading in the zone - guess will get the book soon.

both of course technical - I'm thinking of how to combine this with fundamental ideas - maybe use fundamental insights as confirmation - e.g. now thinking of a EURUSD short - EUR had a good run for like a month or so, then trading in a higher range, but after Lane's statement maybe time for a pullback (more details posted in FX)

still thinking fundamental picture is important, too, to generate/confirm ideas   

[TCremfx]

The most I personally did was 27 losses. All stop loss. But I’m also risking not even 1% of my account. It’s discouraging but risk management helped me survive and I’m still getting 15 strings or 10 strings. I didn’t hear of any trader so far losing as much as me but I also never blew an account.