you know, i was thinking about the type of trades and realized myself i was not really trading the right trades. i'd be in a sell and see a great buy triggering, then hope keeps me in the wrong trade till it stops out at which point the good trigger is missed, which then makes me want to catch up and so on, it's like a circle of mistakes all because of the first mistake. on  the other hand if i start a session with a good trade or at least the second is good, then things tend to go well from there on.

 

got the impression recently that EU is harder to trade then GU AU and GJ in back tests, the trends seem to last longer on the latter.

 

can't wait for the new video, i have watched the new ones you posted recently twice so far.

 

thanks for the feed back, i have to work on patience. as long as you think i'm not beyond hope i will persevere 🙂

watched the new video, really nice, very clear. really helped cement things in my brain re the trends and the different risk levels for various types of situations. its the one shame about back testing with simple mt4 program, you can't have 2 charts open to help you see when longer targets could be used. anyway last video and recent webinares really helped me, so thanks. specially loved the interactive part, was great to kinda be tested a bit on my understanding of the subject.

 

in the end i think the fast trading is gonna be for me. i don't have the patients or the nerves to wait out whole green lines, let alone orange ones. in fact i think i make much more profit when i take trades with very small stop losses and small targets. its easier to read a 5 pip move then to read a 50 pip move correctly it seems to me, as long as the trade makes the target i get the win. here or there i get the chance for higher rr.

 

had a pretty cool session on the aud usd back tester using the complimentary entry chart template. this is what i call a nice graph

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edited to add: in this session i consciously moved the stop loss to BE at the first problem area. lot of BE trades that could have won at the original stop loss, but it also saved me a lot of stop outs and seems all round safer managing trades that way.

went on with this back test till chart ran out, could be better but not bad even if i gave back some profits before the end.

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 all of a sudden my mt4 is asking to change things on my hard drive and ever since it started doing that when i turn it on i can no longer add templates to the back tasting charts like i was able to do before. so far i have just used the simple time based charts that mt4 back tester offers. was doing the job, but without the templates it feels and looks weird.

not sure i quite understand, so i have to rename the template i want to use; v1 vip trade manager?

 

so far, i put a few indicators on individually  and changed the chart properties and made it look like what i'm used to.

had a bad start to today, with 2 lost trades, but then i won the next 3, 2 of which made a decent amount too. the back testing has really helped so much with gaining confidence to the point where i recognize  certain situations and know exactly what to do to.

 

anyone reading this who is still struggling should get the back tester set up. you can't beat it for gaining lots of hands on experience to help build your confidence in your decisions.

 

founbd this nice situation on the s&p500

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the blue lines are my original stop loss and take profit, but as it was a brown line pattern and made it to 1 to 1 really fast i decided to open it up to the farthest safe tp.  in the end i closed it about a spreads width away from the new tp as it started to make me think it was turning, lol. anyway it's really fun to start seeing the wave fx system give me a real edge on the market, if i can keep it up and get better at structure reading i'm on the good path to actually trying this with some real money

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edited to add:

here is my oil trade, was 1 to 1 didnt see it go to target or i might have extended the tp a bit. forgot to do the screen shot but the red lines show where my entry, sl and tp were.

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it's cool, last 3 trades have all been winners.

i tried to take a few trades at once and was careless on the GU, the map showed the possibility of a 3 point turn and even though the brown trend was there it was actually exhausted.

 

the EU might still work, its with both green and brown trend, got in a bit early, but was thinking the location was safe, specially with a safe stop. might not be so safe after all though. we will see.

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this one on the Aud Usd seems to be working out, think it follows the rules?

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last there was this one, its still open, stop loss at break even. really like the new hybrid m3 template

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edited to add:

the eu makes a come back, Aud usd stopped out in profit, spx500 went to Break Even, now it all rests with the EU to see if the day is in profit or not

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thats nice, while i was typing eu went to target just under the box. now if only i hadn't entered the trade that was against the wave fx system rules for level 1 trades, i'd be in much better profit for the day.

 

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even though i entered this trade too early, i knew the level was valid, so i put my stop just under the last brown peak which coincided with just under the bottom of the box. was trading the brown continuation wave.

 

i'm posting this stuff so you can see where i'm at in my education.