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Redemption (bei Fuze )

Gewinn : -99.68%
Drawdown 100.00%
Pips: -4242.5
Trades 1889
Gewonnen:
Verloren:
Typ: Real
Hebel: 1:50
Trading: Manuell

Redemption Diskussion

Fuze
Dec 03 2016 at 04:09
91 Posts
Hello...

I'm not sure where I'm posting this but I've been playing with currency trading with quite some time and I would like to make it my mission to see if I can make a living out of it or at least a viable investment. I'm not claiming to be a guru or holy grail finder. I just want to get thoughts and opinion of the mass. Trading currencies can be a rolling of the dice but for those with a plan and a calculated strategy I believe it this can be a vehicle for financial success. So stay tune to see what come of this and I welcome your input and opinion.

Fuze
Dec 05 2016 at 00:45
91 Posts
I picked up $1542 on 12/5/2016 on Gbp/Usd, loss $322 on eur/usd. Currently short usd/chf

Dove_Services
Dec 05 2016 at 01:47
33 Posts
Fuze posted:
I picked up $1542 on 12/5/2016 on Gbp/Usd, loss $322 on eur/usd. Currently short usd/chf

You said success requires a plan and a calculated strategy. What was your plan and strategy behind your three trades? sharing your outcomes is meaningless.

Fuze
Dec 05 2016 at 04:54
91 Posts
Dove_Services posted:
Fuze posted:
I picked up $1542 on 12/5/2016 on Gbp/Usd, loss $322 on eur/usd. Currently short usd/chf

You said success requires a plan and a calculated strategy. What was your plan and strategy behind your three trades? sharing your outcomes is meaningless.

I'm just using simple support and resistance with price action at key levels. No special EA, trading guru or holy grail.

Dove_Services
Dec 05 2016 at 11:02
33 Posts
Fuze posted:
Dove_Services posted:
Fuze posted:
I picked up $1542 on 12/5/2016 on Gbp/Usd, loss $322 on eur/usd. Currently short usd/chf

You said success requires a plan and a calculated strategy. What was your plan and strategy behind your three trades? sharing your outcomes is meaningless.

I'm just using simple support and resistance with price action at key levels.


So what is your trading plan on your usd/chf open position?

Fuze
Dec 05 2016 at 13:39
91 Posts
I entered the trade on the 1.0200 resistance level to ride it down to .9876 level. I risk a total of 60 pips for a return of 300. I did the same thing on the eur/usd for a reverse correlation on an earlier trader but I got stopped out. That's where I loss $322.

Fuze
Dec 05 2016 at 13:43
91 Posts
Dove_services do you share any systems or account(s)?

Fuze
Dec 05 2016 at 17:19
91 Posts
USD/CHF is retracing as expected. EUR/USD created a new resistance level and bounced up. Too bad I got stopped out

Fuze
Dec 05 2016 at 18:03
91 Posts
Reduced risk to 38 pips on USD/CHF at 1.0190 resistance

Dove_Services
Dec 05 2016 at 22:20
33 Posts
Fuze posted:
I entered the trade on the 1.0200 resistance level to ride it down to .9876 level. I risk a total of 60 pips for a return of 300.


Your trade plan on the USDCHF trade and the price target @ $0.9876 effectively assumes a trend change. The definition of a trend change is when two swing lows are taken out (1H TF) and that is what needs to happen to get to your price target.

Trading against the trend is a low probability trade. What was your trade rationale? Setting a 300 pips target to justify the risk on the trade is not the way to trade IMO - not a viable path to long term success. There are ways to mitigate the risk on such a type of trade but I would first like to understand your rationale.

Fuze
Dec 06 2016 at 01:35
91 Posts
Hello, I appreciate your input. I'm sorry but I'm not a forex guru such as yourself. I just have 20 years of stock and option trading and manage around $400k of my own money. The strategy I use is that those I've learn trading stocks and option successfully. If you look at the attach gragh you'll see a triple top formation with the swing low being broken. My target is based on a special MA that I have tested along with Fib retracement. I know this may be a low probability according to your standards but this has work for me along with risk management. I've failed to see your account and how you trade. By no mean am I perfect trader in the forex market. I feel that we are all learning and it's all about risk management. I look forward to you input, till then let's see where my trade goes. Thanks

Anhänge:


Dove_Services
Dec 06 2016 at 06:45
33 Posts
Cool. All the best on your USDCHF trade.

Fuze
Dec 06 2016 at 07:13
91 Posts
Thank you. I didn't get your input on how I can better the trade....

Fuze
Dec 06 2016 at 11:58
91 Posts
I accidentally got stopped of my low probability trade for a 75 pips profit. Trying to re-enter to capture the remainder of the move. I moved my stop based on some other position I took not realizing I did so.

Fuze
Dec 06 2016 at 15:40
91 Posts
I got a re-entry on USD/CHF short @ 1.0100, target .9876

Dove_Services
Dec 07 2016 at 00:28
33 Posts
Fuze posted:
Thank you. I didn't get your input on how I can better the trade....


Your trade set up is aggressive and the price target is premised on some kind of trend change. When a currency pair like the USDCHF had a trend run, there are two possible development, a consolidation and then a resumption of trend or a trend change. Typically to mitigate such risk, I personally would go for a two part position sizing strategy. Essentially you are selling at resistance and that means the risk to your trade is at support. That is a definition of a range bound market. The first part of your trade would be to buy back your short at support. You take some profits when your position may be at risk. Should the trend change materialised, you still have a second part. However if all it turns out is some kind of consolidation you at least have taken some profits off the table for your effort.

Fuze
Dec 07 2016 at 01:50
91 Posts
Dove_Services posted:
Fuze posted:
Thank you. I didn't get your input on how I can better the trade....


Your trade set up is aggressive and the price target is premised on some kind of trend change. When a currency pair like the USDCHF had a trend run, there are two possible development, a consolidation and then a resumption of trend or a trend change. Typically to mitigate such risk, I personally would go for a two part position sizing strategy. Essentially you are selling at resistance and that means the risk to your trade is at support. That is a definition of a range bound market. The first part of your trade would be to buy back your short at support. You take some profits when your position may be at risk. Should the trend change materialised, you still have a second part. However if all it turns out is some kind of consolidation you at least have taken some profits off the table for your effort.


Great analysis....you bring up a great point. It's hard for me to identify when my position is at risk. I'm sort of like all or nothing but I slowly changing that to protect profits and reduce risk. A lot of time I find myself moving my stop too tight to protect profits, getting stopped out and price going in the direction I presumed. If you can offer some ideas I'm all ears. Thank you

Fuze
Dec 07 2016 at 14:24
91 Posts
I also long EUR/USD @ 1.0717

Tradefx Signals Representative
TRADEFX2016
Dec 07 2016 at 15:59
768 Posts
Lol Ajmal Bhai. Glad to see your full history and your full trading mindset. withdraw money asap.

Fuze
Dec 07 2016 at 23:34
91 Posts
TRADEFX2016 posted:
Lol Ajmal Bhai. Glad to see your full history and your full trading mindset. withdraw money asap.


Not sure if this for me or what you mean? Ajmal Bhai?

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