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    Thread: MartyFish's trading journal

    1. #551
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      Quote Originally Posted by simisola View Post
      @MartyFish let me add that the reason these members would mention 95% which is not outrageous anyway considering how they enter may be due to the time frame and the risk reward each set up offers, but someone who trades just minimum of the 4 hour may not make this same conclusion, that is my thinking.
      I do not get what you are saying clearly, but i could pick out some points though. I think that the time frame is not the reason why we have the 95%, it is just the poor way of trading of many traders. The traders that are working with higher time frame are losing as well, that is how the market is working. I think all trader have to rebrand the way they are trading generally, this might be the way out.


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    3. #552
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      Quote Originally Posted by ajagbeolegba View Post
      I do not get what you are saying clearly, but i could pick out some points though. I think that the time frame is not the reason why we have the 95%, it is just the poor way of trading of many traders. The traders that are working with higher time frame are losing as well, that is how the market is working. I think all trader have to rebrand the way they are trading generally, this might be the way out.
      I agree with you brother, trading higher time frames doesn't guarantees anyone success, we can still lose money if we don't have a solid plan, we have to find a way to trade with short stop loss regardless of trading anytime frame because this the only way to reduce fear.


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    5. #553
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      Well personally I think you have said all we need to know because we cannot win all the time there comes a time that irrespective of your trading system or time frame the market has a way it plays trick on us. So have a plan stick with it and allow the market to do its thing.


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    7. #554
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      Quote Originally Posted by zahidmehmood View Post
      I agree with you brother, trading higher time frames doesn't guarantees anyone success, we can still lose money if we don't have a solid plan, we have to find a way to trade with short stop loss regardless of trading anytime frame because this the only way to reduce fear.
      Trading higher timeframes tends to filter the noise out of the charts. Typically, lower timeframe charts are very chaotic. Based on this premise alone, a trader who focuses on the higher time frames already has an advantage in terms of the raw signals that determine buying or selling. All things being equal, a long time frame trader is on better footing than a short time frame trader. This has also been proven by Statistical Analysis.


    8. #555
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      Quote Originally Posted by Obie View Post
      Trading higher timeframes tends to filter the noise out of the charts. Typically, lower timeframe charts are very chaotic. Based on this premise alone, a trader who focuses on the higher time frames already has an advantage in terms of the raw signals that determine buying or selling. All things being equal, a long time frame trader is on better footing than a short time frame trader. This has also been proven by Statistical Analysis.
      Higher time frame can be the best way to trade but it doesn't mean it's 100 percent perfect. Using the higher time frame we will get to understand that we will be more comfortable and be able stress less unnecessarily. But nothing good don't have their own down side


    9. #556
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      Quote Originally Posted by Obie View Post
      Trading higher timeframes tends to filter the noise out of the charts. Typically, lower timeframe charts are very chaotic. Based on this premise alone, a trader who focuses on the higher time frames already has an advantage in terms of the raw signals that determine buying or selling. All things being equal, a long time frame trader is on better footing than a short time frame trader. This has also been proven by Statistical Analysis.
      You are very right Obie, the traders that are working with the higher time frames will trade a more relaxing orders than the traders that are trading the short time frames. But we also have to know that it depends on what the trader has trained himself about, the two time frames are very good. I am using the both higher and lower time frames, and they are both working well for me.


    10. #557
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      Quote Originally Posted by sonibark View Post
      Higher time frame can be the best way to trade but it doesn't mean it's 100 percent perfect. Using the higher time frame we will get to understand that we will be more comfortable and be able stress less unnecessarily. But nothing good don't have their own down side
      Thank you very much for this wonderful comment, we cannot be hundred percent correct in forex trading because we trade the higher time frame, that is a misunderstanding and a lie that we have told ourselves over time, how come some scalpers are very successful even in the midst of trading the so called noise. Ironic isn't it, there is no noise anywhere, trade what you understand, period!


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    12. #558
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      Quote Originally Posted by MartyFish View Post
      @Update:- As, per my analysis now the price has broke the triangle to the downside and looks like GN would continue it's down move and if it does move down then it will atleast move till / test the lower bullish channel - white lines which is still about 200 pips far & my SL is 60 pips. So, a very possible chance of getting 1:3 RR.



      @Update:- Looks like yesterday's assumption of breakout was a fake signal and was a failure as it didn't got down until the white channel lines as I thought it would. Though, it went 80+ pips in profit but i was too confident to take it and then it reversed sharply got me stopped out at breakeven. 80 pips are a lot for me to let it go. But, I guess I need to learn to accept that because i want to give maximum freedom to my trades so that they can fetch maximum possible profit.

      Can anyone suggest a better plan of booking profits? except for trailing them because it's GN and i have tested trailing on GN, it kills the potential of the setup & except for partial profit booking because again it would kill the risk:reward ratio.

      As, GN has a tendency to reverse & spike up and down, out of nowhere.



      And, Now, as it is confirmed earlier was a fake setup and price didn't continue moving in the latter half of the Bearish channel & reversed up again into the first half of Bearish Channel, where now it's looking to break above and continue it's run in the first half of Bullish Channel.

      So, with this view, I had already triggered a buy entry with 55 pips SL. Though, the breakout haven't taken place yet, I am early into the trade because once the breakout happens I can then immediately be able to protect my trade.


      And, with yesterday low or reversal point we got another new bullish trendline and with the help of that I had drawn parallel channel projections (blue lines) to see the strength & projection of current setup, how far it can move and it looks like it can move all the way upto upper area of bearish channels, which is 140 pips away from my entry.

      Let's see how this setup goes, the risk invovled in this setup is 2% and I will increase to my normal 5% when I gains confidence & good performance results with this method, until then 2% risk per setup.

      And, till I get well versed with this method, I would be just focusing on trading 1 pair i.e GN.


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    14. #559
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      Hahaha haha brother Martyfish, no strategy or analysis is really fail safe, anything can happen, I remember that you were sure about this trade because everything just aligned themselves with your indicators, that also means nobody can boast of being the best trader, forex is an environmental where we should expect anything!


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    16. #560
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      Quote Originally Posted by Leonvic90 View Post
      Hahaha haha brother Martyfish, no strategy or analysis is really fail safe, anything can happen, I remember that you were sure about this trade because everything just aligned themselves with your indicators, that also means nobody can boast of being the best trader, forex is an environmental where we should expect anything!
      yes that's the way how the market trap works

      It makes you believe that the market is moving as per your analysis.

      And, Sometimes it moves with accordance to your view & makes you look smart.

      And, Sometimes it just pretends to move with your accordance but later leaves you alone wondering what has just happened & makes you look like a fool.

      That's the reality.

      So, as trader it's our job to play as safely & smartly as we can, one way to do that is use a SL & then use a trade protecting SL once you are in positive. Had I not protected this trade then sure my SL would have hit and if I would not go with a SL considering how confident I am then I would now have a large floating minus.


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