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    Thread: MartyFish 3 in 1 Trading System Journal

    1. #831
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      @Update:-

      Will be looking to buy GN if the current H4 candle closes been a strong bullish candle and GMTS h4 gives a bullish signal, rest everything looks in place to support this buy entry. It will be having a 80-100 pips SL and target 1 would be around 200-220 pips as shown in H4 chart.

      I would be taking this entry with 2 different trades

      1. short term - 5% risk.
      2. long term - 5% risk.

      both will have same pips SL, short term entry will have a target 1 as target i.e short term target & for long term entry i would be targeting long term target as shown in Daily chart. I will move my SL to B.E and will leave the long term entry alone once, PA nears my short term target.

      *Note:- These 5%+5% = 10% total risk is taken only in the bonus account & I don't encourage taking such high risks in real account i am having same trades with just 2%+2% = 4% total risk. Plus, I take such risks because I don't trade that often and trade only when I sees something good my last trade was 12 days ago & now I am taking a entry after 12 days, so i prefer risking a more, if my trading rate is that slow.





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    3. #832
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      Quote Originally Posted by MartyFish View Post
      If I am confident enough then I would be taking entry as shown in above H4 chart, But that's an early aggressive entry targeting for a good r:r ratio.

      But, If I am not confident enough then I will wait further for more confirmations and will wait to see the strength building up before taking a buy entry. Like, I will then take entry in the yellow box area as shown in H1 chart if the PA enter the yellow box with bullish strength & momentum & if it looks too strong or holds in this area then I will trigger a buy trade with SL at below current low, this will be a more of a conservative entry with higher stops offering a r:r of 1:1 for short term trade but for long term trade it would still be a good r:r trade.

      Now, I will update, If I take an entry in this setup. If it doesn't plays out as I thought then I would drop this trade idea/setup.

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      Alexander Tatsumaki (01-30-2018), maxiipus (01-30-2018), Unregistered (2)

    5. #833
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      Quote Originally Posted by MartyFish View Post
      If I am confident enough then I would be taking entry as shown in above H4 chart, But that's an early aggressive entry targeting for a good r:r ratio.

      But, If I am not confident enough then I will wait further for more confirmations and will wait to see the strength building up before taking a buy entry. Like, I will then take entry in the yellow box area as shown in H1 chart if the PA enter the yellow box with bullish strength & momentum & if it looks too strong or holds in this area then I will trigger a buy trade with SL at below current low, this will be a more of a conservative entry with higher stops offering a r:r of 1:1 for short term trade but for long term trade it would still be a good r:r trade.

      Now, I will update, If I take an entry in this setup. If it doesn't plays out as I thought then I would drop this trade idea/setup.

      the way you plan your trade is really neat, really like it and also i think that when we really want to become successful trader we need to learn to make that level of trading plan , so that our trade will be less emotional and also that level of trading plan will make us able to really manage our risk and reward really well


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      MartyFish (01-30-2018)

    7. #834
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      Quote Originally Posted by MartyFish View Post
      If I am confident enough then I would be taking entry as shown in above H4 chart, But that's an early aggressive entry targeting for a good r:r ratio.

      But, If I am not confident enough then I will wait further for more confirmations and will wait to see the strength building up before taking a buy entry. Like, I will then take entry in the yellow box area as shown in H1 chart if the PA enter the yellow box with bullish strength & momentum & if it looks too strong or holds in this area then I will trigger a buy trade with SL at below current low, this will be a more of a conservative entry with higher stops offering a r:r of 1:1 for short term trade but for long term trade it would still be a good r:r trade.

      Now, I will update, If I take an entry in this setup. If it doesn't plays out as I thought then I would drop this trade idea/setup.

      @Update:-

      Taken Entry on H1 as I was planning, there are 2 trades of 5% risk each, I have set the TP for 1 trade and the next one will be protected as PA reaches near the TP and then I will analyze if it have a potential to go further and hit the highest level or not. And, then according to that I will take the decision of whether to keep the second trade open/close it.

      Though, right now it is going against my entries but hope soon it will turn upwards otherwise I will lose a hefty 10% of my bonus account. Surely, this is a bigger risk I have taken in a while in a bonus account, hope I don't hit my SL's, they are just 100 pips away, while TP is set at 200 pips.


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    9. #835
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      Quote Originally Posted by MartyFish View Post
      @Update:-

      Taken Entry on H1 as I was planning, there are 2 trades of 5% risk each, I have set the TP for 1 trade and the next one will be protected as PA reaches near the TP and then I will analyze if it have a potential to go further and hit the highest level or not. And, then according to that I will take the decision of whether to keep the second trade open/close it.

      Though, right now it is going against my entries but hope soon it will turn upwards otherwise I will lose a hefty 10% of my bonus account. Surely, this is a bigger risk I have taken in a while in a bonus account, hope I don't hit my SL's, they are just 100 pips away, while TP is set at 200 pips.


      @Update:-

      GN went around +72 & +76 pips and then came down sharply now again it's direction is been poised & again it's been a question mark to where it will end up going.

      As, things looks uncertain, I managed to close my lower entry trade (5% risk) at -5 pips i.e -0.25% loss & closed the half of other trade (2.5% risk) at -11 pips i.e -0.28% loss. Total loss :- -0.53%.

      Earlier, in this month I was having a total profit of 0.63% and now substracting with the current loss I am left with just +0.10% gain for month.

      It's just proving out to be a difficult month for me & it's been a very rare month very I am finding it hard to earn some decent gains overall. To me, it's looks like the strong nzd & gbp are making trading conditions worse for GN. Now, will be adding some other crosses to my list so that I can gain something with much more ease because at the moment GN is giving nothing that easily.

      Currently, I have 2.5% risk open trade on GN, I have still left it open because if it somehow bounces back then it is very much poised to test the last high giving me 1:2 r:r & have a potential to earn 5% profits & if it doesn't then losing a 2.5% is very much acceptable to me than 10% because of which i cut my losses to reduce pressure.

      Now, my last hope here is the bounce of this trendline & if it doesn't & closes below the trendline & the marked yellow line, I would look to close my trade manually much before the SL is triggered (ofcourse if possible) so that i can get out with much lesser loss like -1.25% to -1.75%.

      Right Now, I don't have any clue where it will go, PA on H4 shows that it can reverse but PA on Daily looks threatiening. Let's see what happen, though now i am in comfort zone because i won't mind a 2% loss here but a profit would be welcomed because up till now, I don't have any gains for this month.










      P.S:- It's not the first time that it has happened, I have many trades which have gone 70-90+ pips in profit and then reversed back to hit breakeven or ended up in taking a small loss. So, from next time onwards i will be trying 30%, 60% & 100% 3 TP levels for my trades & now would be increasing my monitoring to GN, GA, GJ & EN.
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    10. #836
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      @Update:-

      Closed the remaining 2.5% risk trade at -65 pips @ -1.63% loss.

      For this Month Overall Gain stands at :- -1.53%

      It's already proving out to be a Bad & Tough Month for me.

      So, far had 2 wins (0.63% & 5%, ) & 2 losses (-5% & -2.16%).


      Now, it's time to step-up up the game, add more pairs to watching list & need to manage open trades better than previous.



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    12. #837
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      Quote Originally Posted by MartyFish View Post
      @Update:-

      Closed the remaining 2.5% risk trade at -65 pips @ -1.63% loss.

      For this Month Overall Gain stands at :- -1.53%

      It's already proving out to be a Bad & Tough Month for me.

      So, far had 2 wins (0.63% & 5%, ) & 2 losses (-5% & -2.16%).


      Now, it's time to step-up up the game, add more pairs to watching list & need to manage open trades better than previous.



      I am really enjoying my smartness of closing the trade early & cutting my losses on that trade and literally saving me around 35% amount of loss.

      But, this enjoyment is just to cover up my foolishness of how i analyzed completely opposite to what the market has done & now I need to dig it down & find answers what went wrong here.

      Lucky enough, that I got out from this with just taking around -2.16% loss, if I wouldn't have been monitoring it hour by hour, I would have lost 10% of my account in that setup.


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    14. #838
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      @UPDATE:-


      Yesterday Night GN again reversed back up from a strong down movement that we witnessed yesterday which literally shows that the bulls are still alive & have a upper hand above bears.

      But, since the market is been moving like a crazy ball, it's been difficult to time the trades with having smaller SL & bigger TP.

      And, since now I just desperately needs a win to gain some confidence back & to recover -1.53% & gain some profits for the month. I am going with a defensive approach using a bigger SL & a smaller TP, it might seem a bad setup but with the situation i need to make market hitting my SL much harder than hitting my TP.

      So, my SL is 180 pips & TP 150 pips & I would start trailing my trade once the previous high level is been broken.


      "When trading seems a bit difficult & conditions doesn't favors me then I tries to ease out trading a bit by giving me a more legit chance of winning a trade just by using a bigger SL & a smaller TP, though with a amount that I can afford to lose"


      The Risk involved is 10%, I will be monitoring the trade on hour by hour basis and will close it manually if it's looking to turn down.






      P.S:- It looks like I am losing my patience & chasing GN aggressively, so this is my last trade on bonus account doesn't matter if I win/lose this trade. After that I won't be trading until the next bonus deposit & till then will be back testing the current situation to figure out how to trade such conditions.
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    16. #839
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      You don't need to lose your patience about gn because you know the pair can be pretty funny most of the time, keep your calm and like you have always done, have a long term plan for it, I am not surprised at that reversal because it seems to have happened at exactly 200 moving average on 4 hours, I am expecting more uptrend for this pair until further notice. Patient is always the key for any pair.


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    18. <a href="http://www.mt5.com/">‘ÓūŚÍŮ ÔÓūÚŗŽ</a>
    19. #840
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      Gbp nzd is not your every day pair that should be traded with a short term view, the volatility can make it highly unpredictable, so once you are trading the pair, be prepared for the worse, above all use a stop loss that will not easily be hit and never go against your money management rules, I think you should have an edge with Gn because of your specialty with it, but unfortunately this is a funny pair.


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