watch this video. can be interesting

_somehow.

I had change a logic which is from now I will not rescue trades. FIX_SL set to 25PIP in the case of a connection error, platform freeze or what ever. trades will be closed at 1 to 10 PIP loss so also there will not be open trades after friday afternoon.

due to change and weekend I have flatten open trades in loss.

walker.

BTW I would close those trades at average BE. but I would like to taste the loss and start with change.

   walker36 posted:
   _somehow.

I had change a logic which is from now I will not rescue trades. FIX_SL set to 25PIP in the case of a connection error, platform freeze or what ever. trades will be closed at 1 to 10 PIP loss so also there will not be open trades after friday afternoon.

due to change and weekend I have flatten open trades in loss.

walker.

Steve, are you live now?

I will go live this week with new risk.

   Chikot posted:
   Steve, are you live now?

You mean $5 per pip?

this post is most probably same/similiar for many manual traders.

Phsycology(Ph) of a trading day:

1- start of a day:
with every start I afraid of having loosers but also feel confident that Patterns works well.

2- first trades:
with every start most probably I had my daily goal in a very short period of time. Just watching and catching the patterns. entering trades and exit if necessery even in loss.

3 - daily goal achived:
this is the first break point of the day. after having achived the daily goal Ph changes. from that point I start finding reasons to NOT ENTER the new trades. because daily goal achived and the fear of loosing that is putting more pressure.

4- missing new winners:
the result of nr3 I start missing many winners. and this make me stressed and got angry to myself. that point is the second break point of the day.

5- finding reasons to enter new trades:
at that point I start FINDING reasons to enter trades. due I had missed some winners and now I must fill that gap in my mind. WHY NOT %5 instead of %1 or %2.

6- entering wrong trades:
now I had find the reasons to enter trades just %100 opposite of nr3. those are not exectly what I am looking for. I am just trying the fill the missed gap immediatelly and making wrong desecions. the another reason for this is the Rescue plan. at the backstage of my mind I know that I have rescue plan and this will rescue me if I take a wrong one.

7- Rescue:
as a result I enter wrong trades and those goes against me. at that point instead of exiting the trade at a certain point I keep loosing and start the rescue plan. ( this loose most probably is the result of a very fast price action/spike )

8- Back to start Ph:
when the afraid happens mind reset logic and start trading normal again. at the rescue stage I trade other pairs and make good profit.

8- end of the day:
most probably the rescue plan works ( you can call this basket or grid trading ) and day has saved.


What to do:
- I cancelled my rescue plan.
- limit EA with 1 trade at once per pair.
- decrease SL from 100 pip to 25 pip just in the case of a connection and platform freeze issues.

I had posted several times here that GRID=SUICIDE.
I had tested several EA s to test and all had the same result. account has blown at some point. I do not trade grid. I trade each trade individually but the rescue plan is a GRID. I use it %2-5 of my trades to rescue.
Until yesterday I was feeling ok with that. But yesterday I change my mind before having the account blown ( Demo/Live does not matter the point is the desecion ). SO I cancelled the rescue plan and closed the demo trades at loss. when I start closing trades the BE was at 1.32000 and I was around -%5. as you can see from the chart, price hit 1.32000 at the end of the day and I could wait for some more hours. but I did not. I did not want to make profit or BE from those to finish that type of trade in my mind and closed all at 10.000 equity level.

the reason of this post is 'when I want to remember something I write it down'.

walker

yes starting with smaller equity first and then increase.
what I ment with new risk is the FIX_SL change and cancelled rescue plan.

$5 per pip stays same.

   Chikot posted:
   You mean $5 per pip?

right decision. what rescue? it is all probabilities/ odds game. better to take some losses or it might get much uglier later.

thanks Chikot.

the strange point is as you can see there is no word like 'market condition' 'news' 'market is against me' in the Ph post.
due after some experience point the only effect for the trades is the Ph.

walker

I think that talking about market condition means only that trader is not that good. It also related to me 😉
as I used to bitch about market conditions too... My opinion changed since then. Obviously there is preferred time to trade when market for example is not that fast so that someone like me has more time to think of what's going on. I think it is trend followers and break out amateur traders who blame market conditions.

correct. market is changing thats true. but manual traders can adapt that conditions faster then EA s. as you can see from my long post the Ph is making ZIG-ZAG and this kills the trades.

market is waving. So Ph must stay in tuned and straight. that is the key of success. ofcourse this must come togahter with experience and good system.

I think system is unnecessary. But there should be a method. System is rigid, method is flexible. Experience is well come. Generally, after you clock about 10 000 hours of doing something you develop some kind of gut feeling.

   walker36 posted:
   correct. market is changing thats true. but manual traders can adapt that conditions faster then EA s. as you can see from my long post the Ph is making ZIG-ZAG and this kills the trades.

market is waving. So Ph must stay in tuned and straight. that is the key of success. ofcourse this must come togahter with experience and good system.

today market is not liquid. moving step by step back and forth. I had missed TP with <1PIP 2 times.
it may wait for the Obama speech.

today total slippage is -1.40 pip.

what I have noticed is EA is setting TP without taking consideration of slippage. It should not be that way. I will check tonight and see whats wrong with the code.

I am done today.

no more trades.

walker

unexpected result of keyboard execution:

today I had 3 platforms up and planning to copy trades from 1 to other 2. then suddenly I noticed that with keyboard execution I do not need to copy trades, each EA captures the keyboard input and execute same.

but closed the demo one due to high CPU load.

walker

BTW code issue about slippage effect on TP fixed. need to be tested.

I had increased FIX_TP to 7PIP from 6PIP. the reason is I will close trades manually when reached >5PIP and in the case of a fast move or spike I assume price take TP with 7 PIP before my reaction.

this will also prevent missing target with <1PIP when market is slow. due I am waiting for the TP and this makes me missing some pips.


walker

when I stop trading live I will keep trading demo with _somehow-2

Steve, are you there?