Jump to content

Small Account Challenge aka Warrior Trading Strategy


Recommended Posts

2 hours ago, nit2wynit said:

It aint much but I was reaching for that £50 I reckon.  1:1 PL good enough for me :D


EDIT:  Hmm.  Still going down.  NM.

 

Day 1 Last one.jpg

 

Did you short that gap lower?

 

BTW do you find MACD useful considering you already have MAs on your chart?  I personally find the MACD to be too noisy.

Edited by dmedin
Link to comment
10 minutes ago, dmedin said:

Did you short that gap lower?

 

BTW do you find MACD useful considering you already have MAs on your chart?  I personally find the MACD to be too noisy.

Yo, no I got out as in the image above.  +£13 and pence.  I think we've talked about this in the past.   I recently mentioned it with Dschenk too.  If i see profit, I take it.  I don't play long.  So when i saw 1:1 on a slow moving target, even though I had it to go lower, I took it.  There was about £40 for me in that drop I think.

I don't really know how to use MA....Who am I kidding.  I don't know how to use MA lol.  MACD sure, give me an idea of volume either side of the average....doesn't it?  

I read the chart.  That's it.  The indicators are there in hindsight.

Link to comment
9 hours ago, dmedin said:

 

Are the green orders your manual entries and the red crosses your sells?  If so I would be interested to know your rational for buying and selling at those points.  Towards the end you have a big bull run, and I cannot understand why you would be closing in and out of that so much when you could let it run.

Yes, green are manual entries and red crosses sells

Remember, the big bull run towards the end is only visible in hindsight :D 

My rationale was to enter whenever there was a small pullback and then a 1min candle making a new high. And then I sold as soon as I could once in profit, typically every $20ct move. That was £6 of profit every trade. Done that 10-12 times or so

Although also have to say, if one of those positions went against me, the daily profit would've likely been gone. So will have to see in future how this scalping with high position sizes works out

  • Like 1
Link to comment

@dmedin If so then your Stop would also need to cover the possibility of a Spike to Retest Resistance.  You'd still be playing for a 1:1 but over a full day.  If I'd left this one to Drop to R1 (I know, Hindsight) I might have made £40, If i left it for another 6 hours or so, I'd have made another £40 roughly.  The time vs reward doesn't add up.  My target Limit was around the R1 point.  Knowing that it would likely hit it and Reverse is my reason for getting out with Profit.  If I was watching further i might have been convinced to go Short again at R2, but it was a slow mover at this point.

Wondering what you see here and how you would have carried on from my post yesterday. :D

Link to comment

@nit2wynit  Definitely, I have an issue with coming in too late.  The point I was making about the gap at around 15:00.  If I had missed that gap, the most sensible thing would be not to enter a trade.  Have to wait for strong signals and not try to 'compensate' which almost always means coming in too late. 

Yeah so basically I would have gone short if I had been trading and saw the gap down, and held it.  But if I came in later in the day and missed the gap I wouldn't have traded that one at all.

Edited by dmedin
Link to comment
1 minute ago, dmedin said:

@nit2wynit  Definitely, I have an issue with coming in too late.  The point I was making about the gap at around 15:00.  If I had missed that gap, the most sensible thing would be not to enter a trade.  Have to wait for strong signals and not try to 'compensate' which almost always means coming in too late. 

Yeah so basically I would have gone short if I had been trading and saw the gap, and held it.  But if I came in later in the day and missed the gap I wouldn't have traded that one at all.

I'm going to sound like a right tool here; Which Gap are you talking about? :D lol

Link to comment

To be honest @dmedin I found this after I'd already called it A Day.  I looked at the Bull Candles and figured this didn't want to go up at all and was fighting to come down.  I'd had such a great Win already the £13 risk was OK to me.  But my Limit was actually below the R1.  If I'd walked away it woul have Stopped me out on the way back up.  you just can't tell.  But one thing I know is the longer you're in  the game the more it can reverse.  Take profit when it there.

  • Like 1
Link to comment
1 minute ago, dmedin said:

@nit2wynit This gap low is very bearish, I would enter short here and keep a stop somewhere above (in the gap) and then gradually move my stop lower to lock in profits.  😎

1804191115_LongGame.jpg.f5dc37a7527d918b1826ec9336ebcc0d.jpg.0ef96b562ae6c1df0eb890a6f5488721.jpg

Oh, i see.  I figured that was simply missing Chart Info :O

I didn't have the chart up.  I found it and went straight in.  It was already down from this point by then.

  • Great! 1
Link to comment
5 minutes ago, dmedin said:

@nit2wynit This gap low is very bearish, I would enter short here and keep a stop somewhere above (in the gap) and then gradually move my stop lower to lock in profits.  😎

1804191115_LongGame.jpg.f5dc37a7527d918b1826ec9336ebcc0d.jpg.0ef96b562ae6c1df0eb890a6f5488721.jpg

Tell me then, if you got in where you've stated at the Gap, would you allow it to drop and reverse as it did, or take profit sooner?  There' No Way I'd see that drop to R1 and let it go anywhere near R2.

Link to comment
3 minutes ago, dmedin said:

@nit2wynit In the heat of the moment I would have taken my profit here but with hindsight you can see it would have been better to let that position sit open for much longer :( 

1804191115_LongGame.jpg.f5dc37a7527d918b1826ec9336ebcc0d.jpg.9e27748d88ad94d9934580ec871a03fe.jpg

Well hopefully we can all learn from each other.  That where I got In.  R2 was my Stop @-£13.

New Day today.  get ready for 2.30 :D  i expect to give yesterdays profit away though as i'll be too cocky. lol

  • Great! 1
Link to comment
3 minutes ago, dmedin said:

@nit2wynit

Have you had a look at Steve Nison's book on candlestick charting, it is really the bee's knees and essential when you're trading on very short time frames.  There was a nice bullish hammer-type formation in there that portended an upswing.

foolish.jpg.8a92bd6ecf558a31ba56b8c8a025a9e9.jpg

Ah it's not the candle it's the timing that got me.  I literally found that chart where I got In.  Stoopid mistake.....There wasn't even a green candle present when I placed it.  Usual habit.    Deserve the Loss today.  back to it tomorrow.

  • Great! 1
Link to comment

Slow moving today.  Obviously there would have been more choice but I can only go with what I see at the time.  Disappointing yesterday to give back my £114 profit from Monday, but gained back another £65 but then gave away another £27.  You can see what I'm up since Monday.  I had a Starting Balance of £1877 so about £110.  Yesterday I let the trade Fail to its Max of £114, but I wouldn't have done it normally.  I basically punished myself for placing such a stupid trade.  We'll see what tomorrow brings.

 

Day 3.jpg

  • Great! 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • image.png

  • Posts

    • In the rapidly growing cryptocurrency market, investors face various forms of scam threats. A recent theft case involving a major exchange in Japan highlighted the “fake address trap,” resulting in significant Bitcoin theft. This incident not only revealed how hackers exploit lapses during transactions to commit theft but also underscored potential vulnerabilities in exchange security measures. PTOUNX Exchange has implemented multi-factor authentication and continuous system upgrades to protect the assets of users from similar risks. Through these measures, we strive to ensure the security of every transaction, preventing hackers from exploiting any user negligence. Investor Education: Knowledge as the First Line of Defense Against Scams In the fight against investment scam, investor education and awareness are indispensable. PTOUNX Exchange is committed to disseminating cryptocurrency and investment security knowledge through various channels to reduce user risks caused by information asymmetry. We regularly hold webinars, publish security guides, and update common scam methods and prevention techniques. PTOUNX emphasizes that users must verify every step of a transaction before proceeding, including confirming the legitimacy of the trading platform and checking the accuracy of wallet addresses. Additionally, we encourage users to store large amounts of assets in hardware wallets, as this physical isolation storage method significantly enhances asset security. Our real-time transaction monitoring system can promptly detect abnormal trading behavior, such as unusually large transactions or frequent small transfers, which are often indicators of money laundering or scam. Through proactive monitoring, PTOUNX can quickly take action to prevent potential risks from developing into actual losses. These strategies not only protect user assets but also create a more stable and trustworthy trading environment. Through continuous education and technological innovation, PTOUNX Exchange provides a secure cryptocurrency investment platform for users. Innovative Technology: The Future Protection of Cryptocurrency Trading Facing the complex and ever-changing challenges of cybersecurity, PTOUNX Exchange actively adopts the latest blockchain technologies to enhance security. We believe that by leveraging the transparency and immutability of blockchain, the risk of scam and theft can be greatly reduced. One key technology is the application of smart contracts, which can automatically execute terms of a trading agreement, thus minimizing human errors and opportunities for scam. Moreover, PTOUNX is developing an AI-based anomaly detection system, capable of learning and identifying unusual trading patterns, providing timely warnings to users and management teams. This advanced monitoring technology not only improves response speed but also enhances platform security on multiple levels. Building a Shared Security Line for a Shared Investment Future As the cryptocurrency industry continues to mature and develop, PTOUNX Exchange recognizes that only through continuous innovation and education can we provide a truly secure investment environment for users. We are committed to utilizing cutting-edge technology to enhance our security measures while strengthening user education, ensuring that every investor can make informed decisions based on an understanding of potential risks. At PTOUNX, we are not just a trading platform; we are guardians of investor safety. By collaborating with global security experts and continually updating our security strategies and technologies, we aim to create a worry-free trading environment where every transaction is safe and transparent.
    • Asian stocks rose on Tuesday, tracking gains on Wall Street ahead of comments from several Federal Reserve officials later in the day. The Reserve Bank of Australia kept interest rates on hold at 4.35%, as expected, but warned inflation risks remain. This led traders to cut back bets on an RBA rate cut this year, though the Australian dollar was little changed. Ebbing concerns over European political turmoil also boosted market sentiment. Futures for European stock indexes were higher after gains on Monday. The dollar edged up ahead of US retail sales data, pressuring the euro and pound. The Chinese yuan remained near 7-month lows on mixed economic data from China pointing to a need for more policy support. With multiple Fed speakers on tap, investors are looking for clues on the US rate outlook after last week's Fed decision, with around 45 basis points of cuts priced in for the rest of 2024.
    • ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB   Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)   Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NATIONAL AUSTRALIA BANK LIMITED - NAB . We determine that NAB will continue to push higher with wave iii-grey of wave (iii)-orange. We updated our Trade Recommendation (Long Trade with NAB) yesterday. NAB is opening up quite good profits in today's trading session.   ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB   Elliott Wave Technical Analysis   ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB   1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave iii-grey of Wave (iii)-orange of Wave ((v))-navy Details: The short-term outlook suggests wave (iii)-orange is unfolding to push higher.   Invalidation point: 34.48   ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB   Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB   Elliott Wave Technical Analysis ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB   4-Hour Chart Analysis Function: Major trend (Minuette degree, orange) Mode: Motive Structure: Impulse Position: Wave ((3))-navy of Wave iii-grey of Wave (iii)-orange Details: The short-term outlook shows that wave (iii)-orange is opening to push higher, it is subdividing into waves i,ii,iii-grey and waves ((1)),((2)),( (3))-navy. We updated our Trade Recommendation (Long Trade with NAB) yesterday. NAB is opening up quite good profits in today's trading session. Invalidation point: 34.83   Conclusion:   Our analysis, forecast of contextual trends, and short-term outlook for ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB   aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.   Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!  
×
×
  • Create New...
us