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

Share this post


Link to post
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.

Share this post


Link to post

On a gap down (or up) you should ride it out, it will be some time before the gap gets filled.

Share this post


Link to post
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

Share this post


Link to post

double post

Edited by DSchenk

Share this post


Link to post

triple post - what's going on with this airport wifi:D

Edited by DSchenk

Share this post


Link to post
12 hours ago, nit2wynit said:

Are you an international Spy? lol

I wish, at least they would have to pay me then :D 

Share this post


Link to post

@dmedin  I'm wondering if the reason you keep Losing for lack of a better word is because you're holding on to positions too Long for too Little?  Take a look at the chart from yesterday.  Would you be holding this till the drop?

 

Long Game.jpg

  • Great! 1

Share this post


Link to post

@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

Share this post


Link to post

@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

Share this post


Link to post
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

Share this post


Link to post

@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

Edited by dmedin

Share this post


Link to post

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

Share this post


Link to post
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

Share this post


Link to post
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.

Share this post


Link to post

@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

Edited by dmedin

Share this post


Link to post
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

Share this post


Link to post

VERY very foolish.  Late start; missed the 2.30 Bell.  rushed in.  I'll let this Fail all the way now to take yesterdays £114 profit.  Shame.

 

foolish.jpg

Edited by nit2wynit

Share this post


Link to post

@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

Edited by dmedin

Share this post


Link to post
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

Share this post


Link to post
2 minutes ago, dmedin said:

@nit2wynit

Yeah let it run, but adjust your limit now and then.

I took the £65 before it Reversed. 

Account still up £56 from yesterday.  = Win :D

Any success?

  • Great! 1

Share this post


Link to post
21 minutes ago, nit2wynit said:

Any success?

Yes a little, but I'm not looking at anything less quicker than day charts right now :D

Share this post


Link to post

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

Share this post


Link to post

DoH!!!! Did everyone else know about the GMT Daylight Saving change from the 27th Oct?  I've been wondering why all the chart data starts at 1.30pm lol.  Christ.  Fresh start to the challenge next week then.

  • Great! 1

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Member Statistics

    • Total Topics
      7,851
    • Total Posts
      41,382
    • Total Members
      51,698
    Newest Member
    Blueprint
    Joined 07/12/19 17:37
  • Posts

    • There is an interesting development in the price action for Copper as the chart below shows: Soybean is also looking interesting at the same time. Soybean Oil has been on a good run. I shall end this chart feast with Soybean Meal!  
    • told you he was good 🙂
    • Podcast interviewing Chris Weston, (previously of IG Australia). I haven't heard the whole thing yet but Chris is always worth a listen. I'm hoping he will talk about using implied volatility as described in the video of his posted in the Technical Analysis thread. https://futuresradioshow.com/podcast/286/
×
×