DislikedIntraday comb on Swissy. Nice stop location, risk 22 pips/0.22%. Let's see how she rolls.
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Trading technical analysis system based on Igrok method 137 replies
EA adventures 35 replies
Stochastic's and Bollinger's adventures. 3 replies
DislikedIntraday comb on Swissy. Nice stop location, risk 22 pips/0.22%. Let's see how she rolls.
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DislikedDecided to leave trade open during news, SL hit, down -22 pips/.22%. Main move of the day has changed as new high has been reached. Reverse order now in play, SL slightly higher at 32 pips/0.32% risked, placed just below current 4hr bar.Ignored
DislikedGreetings all,
Even after the disaster of yesterday, I'm still hungry for more trading action LOL
This time it's EURCHF, and I'm going with the direction of all the main moves. Again I'm looking at good places for my stops, and I have it at the top of what appears to be a triangle or wedge formation.
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The lower TL has already had a number of touches, so the plan is for price to break it, and then I have a longer term 4hr div target. SL is 15 pips/0.15% risked.
Swissy looked to have been the better and simpler trade...Ignored
DislikedHey Niteshift,
I think you might be getting back to demo too soon. Quite a few losses in a row are normal with a system like this, especially when you consider the R:R. It's the exact opposite of when someone is trading with a big stop and a small TP. They get constant growth and then most of their profits are wiped out with a few bad trades. In our case however, the exact opposite is true. After all, how long did you trade with your live account? Not long at all, I think you'll agree. Besides, you are keeping your risk small, so you can be sure...Ignored
DislikedI want to give you a little homework over the weekend if you want to.
Go over every trade you have made on technical formation where you have traded the formation when price make a 3rd touch (with only 2 touches on the other side) like channels and triangles (not diamonds).
If the total result ends negative, which I believe it will, never trade a formation on a 3rd touch (2 on the other side) without any other clues, only make a trade on the 3rd approach if you have 3 touches on the other side.
Second, find out how much the performance would...Ignored
DislikedI would be more than happy to do homework set by a great trader such as yourself. One of my recent trades had me using a TL with only 2 touches, which of course has NO significance at that point, and I eventually lost. A few hours later I realised the stupid error I had made, but yet at the time my mind didn't even notice it, I was so excited and focused with other events on the chart. The mind eh? Anyway, fine tuning is what my car needs, so thanks for the help.
In your day to day trading, is the 'SL<40 pips/ above/below daily extreme' a must?...Ignored
DislikedYes, always place SL outside the daily range. If the SL is too far away, the whole scenario isn't that attractive anymore. I have placed stops at technical levels myself for a long time and I didn't got convinced doing otherwise until Igrok elaborated about the issue, face to face.Ignored
DislikedWow, you guys meet the big guy in real life, or was it online?
Anyway, I'm trying to work on these points aediaz mentioned (going through my past losing trades now, so far around 70% would not have been taken had I followed the <40pip/daily extreme rule), but the main problem I have at the moment is early European session, and how do I know the extreme is reliable? I guess I'll get that with experiance, but any other tips for me to chew over?
Thanks again guys and have a great weekendIgnored
DislikedGreetings all,
I know, I've been gone a long time. Well, went back to the drawing board, been going through some threads again and taking on board other traders' advice and experiences. I've become a lot more fussy now about the trades I take, so I turn down a lot of signals I would've taken a few weeks ago. My main task was getting my charting right and reliable enough to base trading plans on.
I will endeavour to continue on wth my journal, and I figured the start of the month is as good as any time to start again. I won't be posting my...Ignored
Dislikedhi nite
could you tell us how long you have been trading igroks method, and what has been your results so far ?Ignored