New theory testing!!! Mainly trading GA and EA here, seems to work best with the method, trying to trade 4 charts = uselessness, I like how they work together to. Setups........ If 24 flat, then either side chop rules on pausing pretty much. If 24 direction, then take 24 up then low of the 9 for entry. if 9 strong, then jump on 9's direction also near the low maybe mid. Exits.......... If I take a low 24 range and struggles to cross over the 9's upper then take profit, down move coming. Other side of 24 ofcourse in 24 chop mode. Back to 1 position, so all in pretty much, suites my greed better EA test first, just a quick 1, PASS GA also nice It's just less subjective, got to trust the rules, then profits galor expected!! I could do with a break though universe, the 1 good trade got spiked, was pretty close to margin, SL didn't hit but Margin call did LOL Been messing with IQ Options, they word it as $88 profit ( based on $50 stake ), but actually the $50 is gone so it's $33, maybe $42 profit, so need to be right 2 out of 3 to profit. The 30second Turbo plays might be beatable based on a simple Bollinger band during sideways ish markets. The 5 minute plays, give enough time for Momo to work, so trending markets using my existing method. Likely won't bother, unless I can kick it's butt in demo tomorrow, then 80% added to my deposit, might make it worth the risk.
Dropping Lot value down to $1 per pip, while I thrash this out. Down $40 currently, so not an issue, just not making sensible trades. 24 based range and direction is working great today all around. 9 based, was too slow, speeded up to 6 based and tigher range aswell. Need to Get my entry and exits down TIGHT AS, mission for the day hence $1 lot size.
Up slightly, reviewing the charts after ( to easy after LOL ) should be making loads of money, 24sma is valid nicely, some nice enter and make 50+ pips aswell, few of them and we are away Method suites what I'm after in general, maybe it will make enough $$$'s ie STACKS! for me to continue with this 1, maybe. If it's going to just pay a wage and not go 2000% in a year say, then I'm just not interested, improve, next and try again, simple as. Rich by many trades and compounding or die trying! Not working my ass off for $1000 per month, 10K hmmm maybe
Still missing the leap, to the next level, fighting on this next level for 12months+, making money, but hard work and a fraction of what's on the table, hmmmmmmmmmm!! Speeding up method, to 5/15 based, looks better! Focusing on EA and GA, need to see charts bigger I think, Vertically wise to read the detail. Need better SL management, read DANGER tight, but smart, while letting profits run. Need to crack entering on MoMo, this is the main area I could be making easy $$$'s and lots of them!! Entries should be........... 1. Enter with Momo, low of 5 when strong. 2. Enter on a Cluster, SL just new low +5 to allow for a spike.
Lack of focus related screwing it up today. Trading while working issues mainly, had 1 trade up $300 hadnt looked at screen, reversed to Sl - 90 4 small hits in total, which was getting annoying, 1 profit early on, market keeps changing its mind today. 1 nice profit, near BE on the day argghhhh. Room for improvement yes for sure!
Well, lets focus on just the trade type that's mainly working, every time I try to judge which method to use I get boned. So, trading off the 5sma range, enter with direction using, exit on this breaking, and 15sma to also judge direction. The issue ofcourse with this, is my main issue, jumping on and trusting and existing move that the counter move won't last long, but must power through!
Quick test, GA yesterday and today! It's good, all I have the brain cells for tonight, trusting and going with it, ie jumping on, rather than waiting for turn aka prediction style is ofcourse the issue, which needs solving. Less Work, Less sporadic trading and a simpler life, would also REALLY help!! Down slightly on the day, up maybe 7% of the week, good but not the dream!
Okay, end game time.... Although i can play with MAs to perfect 5-8 and 13-24 are valid, range on the 5 aswell. Anything other than this, has too many bad periods despite good periods, too subjective aswell, so lets stick to, practice and master momo trading basically. Issue being, i hate entering mid move, buying a pull back on a direction fear is too high it will continue that way, most of the time it won't ofcourse. Plan..... Min lot size to practice with $0.7 per pip, ignore making money. Practice, entering with 5 and 15 direction matching only, looking for a entry in the low range, perfect isnt possible ofcourse. Practice holding for near max profit, risk 10 to make 30 being ideal. Lets reduce the work load, i want this to work, while at work, off phone. So 10SL dynamic trailing auto, I might be better off placing trade manually then rather than watching going mad, getting emotional, ignore and let SL do its job, have to give this a trial. Yes there will be times i could of taken a +6 but took a -4, but there will be times where it ran 30+ without me. Pure momo method, should work well, on days like Friday, then i just focus on not trading at stupid times, let the rest take care of its self, simples.
Okay simple rules, should make relatively effective back testing possible, lets try. 11th Sept, 11:21 GA Downtrend, look for place to enter, short 2.1821, direction change -10 uptrend, long 2.1840, goes +23 so SL +13 Still near on impossible from full candles being drawn to accurately backtest by hand. Test the 10SL Trail, ie any pull back of 10pips exits me FAIL and ABORT on Trail to many false SL hits, ie 10pip pull back spike and reverse which would trip me out, 15 is better, 20 better still, but ofcourse this means I need to go to +20 just to move SL to BE, so pointless Ohhh well! Manually trail out side of the range and manually exit, just trust the direction.
Need some brain training, I see everything as a reversal, need to trust the MoMo!! Not a back test, just a hypothetical, if I was to take X trade, would it of worked, stat. SL 10, TP 10 if it gets to 1:1 good enough. EA 18th Sep, 9:54 Looks like a stall, cluster top, Momo pushed higher,actually no time TRUST MOMO, TRUST, avoid Chop and retire a 20K aire!