Helping people help themselves
Hello dear Krakof,
I don't usually have time to analyze trades closely because firstly I only trade in EURUSD because it is over 100 times larger than Nasdaq and the Bionic candle works best in EURUSD. However, you've been very involved here over the last few months, so I'm happy to make an exception. First of all, thank you for sharing your trade with us. I'm not at all familiar with the pip values in the Nasdaq, but I would like to write you my opinion about it.
You have completed a winning trade, which is positive for now. What I don't understand is why you're entering the market just before a new high when you've plotted a resistance zone yourself at 15342. That's where the price went back and then back up.
You entered at around 16:50 CET at 15434 and exited the trade at 18:40 CET at 15504. The price retraced to 15360 and you were not stopped out, so your stop must have been at least below the last low around 15342. That's 92 points to stop and 70 points to TP. Your gross RRR is 0.76 without spread. So you need at least a 63% win rate to break even in the long run. You traded for 170 minutes and scored 0.41 points per minute. I find it dramatic that you were in the red for about 50% of your trading time.
If you had started at point A (the zone you drew yourself) you would have scored 92 points within 20 minutes, that's 4.6 points per minute and would have been 10 times more efficient. You would have been minus a maximum of 1 minute. Your gross RRR would then be 5, so you could reduce your win ratio to 23% in order to break even in the long term. In addition, there were two other ways (point B & C) to complete an efficient trade. Although you made a profit, your risk was 10 times higher than if you had waited for the pullback and entered at point A in your self-drawn zone. From my point of view, you draw the bionic zones, but you don't use them effectively.
I hope I've been able to be honest enough to offer this criticism, this was meant as a help only and not an attack.
I keep my fingers crossed for you and wish you every success.
Best regards, Michael
I don't usually have time to analyze trades closely because firstly I only trade in EURUSD because it is over 100 times larger than Nasdaq and the Bionic candle works best in EURUSD. However, you've been very involved here over the last few months, so I'm happy to make an exception. First of all, thank you for sharing your trade with us. I'm not at all familiar with the pip values in the Nasdaq, but I would like to write you my opinion about it.
You have completed a winning trade, which is positive for now. What I don't understand is why you're entering the market just before a new high when you've plotted a resistance zone yourself at 15342. That's where the price went back and then back up.
You entered at around 16:50 CET at 15434 and exited the trade at 18:40 CET at 15504. The price retraced to 15360 and you were not stopped out, so your stop must have been at least below the last low around 15342. That's 92 points to stop and 70 points to TP. Your gross RRR is 0.76 without spread. So you need at least a 63% win rate to break even in the long run. You traded for 170 minutes and scored 0.41 points per minute. I find it dramatic that you were in the red for about 50% of your trading time.
If you had started at point A (the zone you drew yourself) you would have scored 92 points within 20 minutes, that's 4.6 points per minute and would have been 10 times more efficient. You would have been minus a maximum of 1 minute. Your gross RRR would then be 5, so you could reduce your win ratio to 23% in order to break even in the long term. In addition, there were two other ways (point B & C) to complete an efficient trade. Although you made a profit, your risk was 10 times higher than if you had waited for the pullback and entered at point A in your self-drawn zone. From my point of view, you draw the bionic zones, but you don't use them effectively.
I hope I've been able to be honest enough to offer this criticism, this was meant as a help only and not an attack.
I keep my fingers crossed for you and wish you every success.
Best regards, Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
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