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this post got 3 likes…2 from those who actually been involved with the mentoring gift, and the 3rd, whom i was intended to answer.
it is pure swing trading, as i like it, from the H4 and H1 chart.
so, went really unnoticed. in comparison, my car’s photo got also 3 likes, far from the actual trading.
but here is the real deal:
there was talk about prop and other trading. for those deal, i stick mainly to one and one method, that is scalping, the reason being that for me and investors appeal the idea that i dont carry trades overnight or weekend, 99.5% of the time.
due this reason most of the time i pass on the actual swing trades. i do take scalp trades from same entry, but with very different targets, and short holding times, preferable measured in minutes.
but lets dig into a bit to this trade, the example, as this topic is interest me, and it is quiet time here, so why not
so, the chart is above…
i think the reason for entries are clear for swing. i cant add CSM, but just believe me, that was also supportive of me.
even though i didnt take the swing trade, for the mentioned reasons, i made a chart for you, marking all my scalp entries that day on EurNzd.
something to keep in mind: most of my trading falls between 15:00-18:00 broker time. apart from few exceptions, like late high impact events, i am not looking to open new trades after 18:00…but dont just take my word for it, myfxbook has a nice stat section too; attached.
i think it is easy to see where most of my entries concentrated. if someone bother to look, there is lots of similarity in the same chart on H4, H1 and M5…
but likely the forum post examples wont go beyond this one in explanation. if i go more into details, what and why, i am afraid my nice, quiet little journal thread will become like one of those system threads, and will have to repeat countless answers to noob questions, else i would be the bad guy.
as mentioned, i have a TE, visible, live, real. entries are listed there. most are based on very similar setups one way or another.
Xmas holiday is here, a good homework to check few out?
for example this month was 282 entries…also equity SL came into play. also full recovery to HWM. a roller coaster. sort of.
but few things to consider: too many entries month by month to be all random. too low drawdown to discard as horrible MM. decent enough return to pass on as minuscule.(if looked in a realistic way). not a fake broker. a sort of mid-term history length, not only few days. relative low monthly return deviation.
the journal’s goal is to show that it is possible to build a good enough track record, and possible to go full time without really large amount of funds to start with.