End Of Month: Gloom and Survive

My TOS charts slow, crash and lagged for the last 2 days. Reason to stop trading right :)

Anyway, I was shock when realized I just gain slightly more than $1000 this month, with the last day trade of the month booked bigger profit than accumulated profit of the remaining days this month. Crazy job right?
If I just trade week 1 and week 4 plus last 2 days, I may booked $4500!!! That's interesting.

No more trade, cause of bad chart. Have a nice trade everyone :)

Monday Result

Start bad on London session, then my chart crash. Managed to breakeven, end of day :)

PS : Where can I get reliable chart provider? I don't mind paying if <$50 per month. :) Tq

ADJUSTING THE SYSTEM

Here's what you can do if you have a good system. You can modified for into multiple modes.

My regular trading based on breakout, showed by the arrow. My SL no bigger than ten ticks, sometime less. Now here's the example of modifying the system.
- On volatile market, means big volume, I might want to be more aggresive. So I entered on No.1 Signal immediately.
- On quiet or choppy market I maight want to enter the No.2 Signal, neglecting the No.1 Signal.
- On a very low risk mode I might enter on the No.3 Signal, not caring both of the previous signal.

The modification keeo going for example: entering 5 ticks better price or even 10 ticks better price for lowering stopped out risk.
Or after third failed, you might want double the position since the odds are getting higher and higher after failure. But I didn't really want to do it.

Sometimes I did the 10 ticks better price and if the price moved and breakout the regular setup, I adding size, while keeping the risk at the regular size.

Entering on better price had lot of chance to not get filled at all, but there's always price for everything we do.

-- Some people hate to miss opportunity but okay being stopped out a lot.
-- Others hate to lose but not too worry missing the opportunity.

If we can trading based on what we comfortable, I believe we can become a better trader. :)

Friday and Weekly Result

I almost bored to death on London session. And shock to death on US session.
Got out Crude Oil inexcuseably early :( and words from Mr. Ben freaked out the market, including me though I didn't listen his words.

Overall a good week from me and finally having positive month :)
Hopefully I still keep my pace and increasing my performance.

Thursday Result

Harsh day for me. I made lot of scalping, breakeven effort, scalping again, and so on. I even took two discretionary trades until I realized the danger and closed it on scratch.

I hoped the breakout on AUD. I accumulated the position but it never happened. It happened, but I will be stopped out first and I likely wouldn't re-entry.

PERFECT FLIPPING : MY FUTURE SYSTEM

The Chart is 5min EUR/USD. For who don't know my trading method, I used the wedge. I trade breakout consolidation. Pure Price Action, No indicator, No Bias.

Until now, I trade the futures. I like futures since it's fast and liquid. Though it's risky and dangerous. I want to trade FX Spot for the reason below:
1. Futures is not flexible, especially for my thin capital :) 20ticks/pips SL worth more than 2% of my capital. While 20pips is sometimes isn't sufficient.
2. Long Screen Time. Though I can leave it mechanically, I couldn't rest assure. If my SL failed I could blew $500 or even $1000 in just 5min. No choice I have to keep eye my position.
3. Unstructured Stop Loss. If the Consolidation Zone is too wide, I can Stopped Out multiple times only later re-entry at the same price. This things sometimes annoying especially in chop and slow market.

Now, the method of Spot Trading is because of the flexibility and easy adjustment. Here's what I can do with Forex Spot:
1. No more re-entry...If I long one on breakout, I'll put two short at the opposite side. No worries for wide range since I can adjust my lot for example:
Long = 26554
Short= 26550
Wide = 4pips
Lot = 0.5% Capital Risking 4pips let's say = 100lot

Long = 26466
Short = 26334
Wide = 13.2pips
Lot = 0.5% Capital Risking 13pips let's say = 35lot

And so on...

2. Flipping and Structured Stop Loss. I can limit my trade only 2 trades per setup. Means only 1% risk per setup. I can flip exactly the place where price confirm reversal. No bias, just flow with the market.

3. Risk Reward Ratio also adjustable. More likely 3:1 or 5:1. For the wider range, the RR may 3:1, narrower range 5:1.

This method adjustable and based on pure price action. The theory is when consolidation it mean buyer and seller fighting and the price represents the result. If bull win, it mean the upper breakout and the seller may fight back or give up. If fight back, the price may go back to consolidation area again. If give up, they will cover their short and won't do any fighting, while the winner will pump their position until they want to keep profit. This momentum give a very good profitability trade and it pure price action. I have convicition this system will prevail through any market condition.

Wednesday Result: Tricking The Algo

I was tired stopped out from CL dozens of time, so I modified my plan.

-- I ENTERED AT THE POINT WHERE I SHOULD BEEN STOPPED OUT --

There's risk I didn't ride the big move, but there's no big moves for one and half weeks!!!
I knew I just profit scalp the entry. It's just some safe experiments..much safer than my regular setup.

Today I trade defensively. I even got out the JPY when there's only 6ticks profit. I breakeven on AUD, and so on.

Current market felt like it wanted to eat day traders out there alive. They identified your entry, tracking your stop, teasing with S/R, lure you to re-entry and slammed the stop again. And then make you losed your mind entry with full power not realizing market gave you the worst price and soon killed you in an instant. The algo is evil for day trader :)

PS : Want to find market with little algo? Currency still lies humanity in it. Doesn't mean it easier, just feel more 'human'.

Want to scalp against the algo? It's like fighting IBM super computer with your ancient chinese sempoa*.(*it's counting tools with bides in it)