CAC +30 now, so stop to breakeven, risk off the table.
I've entered short GBPJPY at 182.30.
I've entered short GBPJPY at 182.30.
Price Action Swing Trading - The PAST Strategy
- Thread starter Nigel Price
- Start date
- Watchers 91
The market is making us work for our pips this week!
CAC out at breakeven.
We are now clearly at a time in these instruments that the market is unsure which way to move - indecision. It's no secret that it is difficult to make money during these types of markets.
Some people will always say - well why don't you take your profits quickly? Well yes, there have been a few occasions when I have had floating profit there and haven't taken it.
There is a couple of reasons why I like to keep trades open that bit longer -
(1) I don't know when the big break is going to come, but I do know that it will come. There is no such thing as a perpetual range - at least I have never seen one. I know that as long as I keep my discipline during the tough days, the easy days will come. Sooner or later.
(2) I don't want to do this every day. I don't particularly enjoy sitting here watching the charts. I don't mind it, but I don't want to do it all day every day. It's far more preferable for me to get a position in the market at the start of a decent long swing, and then once the swing gets going and my stop is at breakeven, I can sit back and relax, and just monitor it every now and again. Looking for entries all the time is stressful - I prefer to just monitor if i can - its a far more healthy way to trade.
I like to go for something like the second line below:
CAC out at breakeven.
We are now clearly at a time in these instruments that the market is unsure which way to move - indecision. It's no secret that it is difficult to make money during these types of markets.
Some people will always say - well why don't you take your profits quickly? Well yes, there have been a few occasions when I have had floating profit there and haven't taken it.
There is a couple of reasons why I like to keep trades open that bit longer -
(1) I don't know when the big break is going to come, but I do know that it will come. There is no such thing as a perpetual range - at least I have never seen one. I know that as long as I keep my discipline during the tough days, the easy days will come. Sooner or later.
(2) I don't want to do this every day. I don't particularly enjoy sitting here watching the charts. I don't mind it, but I don't want to do it all day every day. It's far more preferable for me to get a position in the market at the start of a decent long swing, and then once the swing gets going and my stop is at breakeven, I can sit back and relax, and just monitor it every now and again. Looking for entries all the time is stressful - I prefer to just monitor if i can - its a far more healthy way to trade.
I like to go for something like the second line below:
Sorry guys, things were a bit jumpy there with the data coming out - I have to make sure my account is looked after before I post in here!
I tightened the stop on GBPJPY before the news as close to B/E as I could - but it got stopped out for -14 pips.
I'd guess a good chunk of that was a widened spread due to the news release, but there's nothing we can do about that - prices will slip, that's just the way it is.
I got in on the retest of the trendline from the underside and price has now fallen away.
I think I will call it a day here as far as new trades are concerned. I will keep an eye on this current one and hopefully get the stop to B/E before the market closes for the weekend, but I don't think I'll go for any new ones.
I'll do a little post in here at some point over the weekend going through a few relevant numbers that are very important to my style of trading.
All the best for now!
I tightened the stop on GBPJPY before the news as close to B/E as I could - but it got stopped out for -14 pips.
I'd guess a good chunk of that was a widened spread due to the news release, but there's nothing we can do about that - prices will slip, that's just the way it is.
I got in on the retest of the trendline from the underside and price has now fallen away.
I think I will call it a day here as far as new trades are concerned. I will keep an eye on this current one and hopefully get the stop to B/E before the market closes for the weekend, but I don't think I'll go for any new ones.
I'll do a little post in here at some point over the weekend going through a few relevant numbers that are very important to my style of trading.
All the best for now!
Hey Guys, I noticed that Paul Tudor Jones' video has surfaced online again.
This is a video that rarely lasts very long before it gets taken down - Paul's lawyers usually get to it fairly quickly! For some reason he doesn't like it being online. It's definitely worth an hour of your time over the weekend if you can fit it in.
This is a video that rarely lasts very long before it gets taken down - Paul's lawyers usually get to it fairly quickly! For some reason he doesn't like it being online. It's definitely worth an hour of your time over the weekend if you can fit it in.
very nice thread. is there any chance you will develop any automatic version of your trading ?
if you dont mind please write down your trading plan strategies, i'll try to made a logic sequence and compile mql code based on your trading system.
it would be much more helpfull if we share the ea among members
if you dont mind please write down your trading plan strategies, i'll try to made a logic sequence and compile mql code based on your trading system.
it would be much more helpfull if we share the ea among members
very nice thread. is there any chance you will develop any automatic version of your trading ?
if you dont mind please write down your trading plan strategies, i'll try to made a logic sequence and compile mql code based on your trading system.
it would be much more helpfull if we share the ea among members
Hi chief, welcome to the thread! Thanks for the kind remarks.
Like most traders, I have toyed with the idea of attempting to automate my trading, but to be honest, I have found it extremely difficult to do.
It's not difficult to code something that will follow an exact set of rules, but what happens is that when you come to testing it, you begin to see trades that you just would not have taken in real life. There is always this nuisance of discretion that turns up and mess everything up!
Can I come up with a strict set of rules that I can say to you - either you or an EA - just follow these rules and at the end of the day/month/year you will show a profit?
Unfortunately the answer to that question is no
I can't. Believe me, I have tried! What I have been looking at, in conjunction with some of the PAST traders on here, are tools that might help automate parts of the strategy, to help implement it, but overall I suspect we can't get away from the fact that there will always be discretion involved somewhere, and I don't know of anyone who can code discretion into an EA. Not yet anyway
But listen, if you want to, go ahead and code the strategy if you like, I will have no problem taking a look at what you come up with. Run a test on it, etc. You never know, eh?!
I never rule anything out.
I haven't forgotten about my stats - I'll try to get something up today.
As you can see, the process regarding entries is pretty repetitive.
It's just the same thing over and over again. The strength is in the statistics - that's where the secret sauce lies.
What I aim to do is actually to get our ideas of trading away from entries and exits and towards risk management, money management, confidence and discipline.
I firmly believe that you can reduce trading down to being a skill in just staying alive long enough for the profit to materialise. That's all money management, not skilled entries.
I took a small loss on Friday's short trade too in the end - I'll have the exact figure in the stats when I publish them
As you can see, the process regarding entries is pretty repetitive.
It's just the same thing over and over again. The strength is in the statistics - that's where the secret sauce lies.
What I aim to do is actually to get our ideas of trading away from entries and exits and towards risk management, money management, confidence and discipline.
I firmly believe that you can reduce trading down to being a skill in just staying alive long enough for the profit to materialise. That's all money management, not skilled entries.
I took a small loss on Friday's short trade too in the end - I'll have the exact figure in the stats when I publish them
My current CAC chart, if anyone is interested...
I'm not in this one - I have strict rules when it comes to multiple positions
I'm not in this one - I have strict rules when it comes to multiple positions
just as i thoughtHi chief, welcome to the thread! Thanks for the kind remarks.
Like most traders, I have toyed with the idea of attempting to automate my trading, but to be honest, I have found it extremely difficult to do.
It's not difficult to code something that will follow an exact set of rules, but what happens is that when you come to testing it, you begin to see trades that you just would not have taken in real life. There is always this nuisance of discretion that turns up and mess everything up!
Can I come up with a strict set of rules that I can say to you - either you or an EA - just follow these rules and at the end of the day/month/year you will show a profit?
Unfortunately the answer to that question is no I can't. Believe me, I have tried!
What I have been looking at, in conjunction with some of the PAST traders on here, are tools that might help automate parts of the strategy, to help implement it, but overall I suspect we can't get away from the fact that there will always be discretion involved somewhere, and I don't know of anyone who can code discretion into an EA. Not yet anyway
But listen, if you want to, go ahead and code the strategy if you like, I will have no problem taking a look at what you come up with. Run a test on it, etc. You never know, eh?!
I never rule anything out.
. seem you share the same painfull effort research testing to simplify your own tradiing system (logic ea rush in the head). at first effort I do feel the same, sitting on pc, try to extract any logic,pattern,rule, based on my manual trading. it took almost 2 years ( including almost a year backtesting and enhancement process), surely pain it neck!the point is, decent straegies are the one who fully adapt to the market condition, and there's no logic will reach an adaptation process. so i give up to build auto version of my manual trade, but I use only small part of it. most part it, the profit % projection, as manual trade always spare a room for boost profit, never applied this one on EA. for example with manually trade we mantain to gain profit 20-30% a months, while with EA 5-10% are already good, as long as it has very low drawdown.
as mine i only use the entry strategies only, while the exit use a more strict rule when use at automatic method.
i'll keep on track on your signal thread, and try my best to define any possible rule from your given chart
just as i thought
the point is, decent straegies are the one who fully adapt to the market condition, and there's no logic will reach an adaptation process. so i give up to build auto version of my manual trade, but I use only small part of it. most part it, the profit % projection, as manual trade always spare a room for boost profit, never applied this one on EA. for example with manually trade we mantain to gain profit 20-30% a months, while with EA 5-10% are already good, as long as it has very low drawdown.
as mine i only use the entry strategies only, while the exit use a more strict rule when use at automatic method.
i'll keep on track on your signal thread, and try my best to define any possible rule from your given chart
Nice one chief, thanks!
Right guys, let's get down to the substance of this.
I have been trading pretty much live here over the last while in an attempt to show you all something.
Now, to be honest, I have been trading a lot more actively than I normally would, but I have been doing so in order that I quickly build up a bit of history to show you.
If I did this experiment at the same pace as I normally trade, it would take months to get the figures together and everyone would either be long asleep or left before I got around to making my point
I have tried my best to post all of the trades but inevitably I haven't been able to document every single one. On some occasions, like towards the end of last week, things were moving too quickly in the market to get everything posted here and obviously my priority has to be my live account.
So I just took the figures from my broker history. The pip values are all the same.
From the period 30 October 2014 till today:
Total number of trades: 21
Breakeven Trades: 6
Average Loser Size (including breakevens): 15.02 pips
Strike Rate: 0%
Total P&L: - 315.5 pips
Now, be honest with me, what do you think of that trading record?
I have been trading pretty much live here over the last while in an attempt to show you all something.
Now, to be honest, I have been trading a lot more actively than I normally would, but I have been doing so in order that I quickly build up a bit of history to show you.
If I did this experiment at the same pace as I normally trade, it would take months to get the figures together and everyone would either be long asleep or left before I got around to making my point
I have tried my best to post all of the trades but inevitably I haven't been able to document every single one. On some occasions, like towards the end of last week, things were moving too quickly in the market to get everything posted here and obviously my priority has to be my live account.
So I just took the figures from my broker history. The pip values are all the same.
From the period 30 October 2014 till today:
Total number of trades: 21
Breakeven Trades: 6
Average Loser Size (including breakevens): 15.02 pips
Strike Rate: 0%
Total P&L: - 315.5 pips
Now, be honest with me, what do you think of that trading record?
Last edited:
From the period 30 October 2014 till today:
Total number of trades: 21
Breakeven Trades: 6
Average Loser Size (including breakevens): 15.02 pips
Strike Rate: 0%
Total P&L: - 315.5 pips
it's on pips value, still at negative result. it's only half of clue. some traders may got positive money profit result even at -pips.
is there any special condition should meet before using your trading signal?
as your pair are GBPJPY, i oftenly fail when comes to this pairs.
can I applied this with my armada market account? i do check the spread on GJ its ranging from 0.8 - 1.9 pips, see if it fits your trading signal.
if this trading condition sufficient, i will try to follow your daily signal and give statistical report, as comparison, while i need more study with GJ pairs.
Total number of trades: 21
Breakeven Trades: 6
Average Loser Size (including breakevens): 15.02 pips
Strike Rate: 0%
Total P&L: - 315.5 pips
it's on pips value
, still at negative result. it's only half of clue. some traders may got positive money profit result even at -pips.is there any special condition should meet before using your trading signal?
as your pair are GBPJPY, i oftenly fail when comes to this pairs.
can I applied this with my armada market account? i do check the spread on GJ its ranging from 0.8 - 1.9 pips, see if it fits your trading signal.
if this trading condition sufficient, i will try to follow your daily signal and give statistical report, as comparison, while i need more study with GJ pairs.
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