Oct '23 • Homework
Homework module 7
Hi Guys,
So I finished the assignment eventually. I try to be concise and is a quick recap of my take aways and observations.
- I did the module only forward testing. I reported 50 trades only but I have done probably close to 100. I was just in able to report everything in Excel.
- I still tend to read the bias wrong and that is visible over first half of trades I made. After some point I think I improved a lot on it.
- Using 1h to determine HTB and execute on 5min or 1min seems to give me most reasonable results.
- Patience is key of course and I often times price hits the key level more than once before it reverses. Therefore I started to ignore the first CHOCH and wait for the 2nd or 3rd one before I entered
- After those 50 reported trades the journal says 50R, but to be honest with all the 100x trades I took I would have been probably closer to 20-30R as I made a lot of mistakes in the beginning. I also reset my paper trading account at that point and started over ;)
https://docs.google.com/spreadsheets/d/1FGoQNTiEZ5ZFws43T-QK2PUbSg-fI4aE2D4CNlJB7Wg/edit?usp=sharing
Nevertheless, I really think my performance is improving and it is primarily thanks to Trading Accelerator :)
I am currently in a trade on T/USDT. My target is 7xR. I was waiting for the price to hit the key level (three times I think) that is the yellow line and than entered on a pullback after choch.
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Homework module 7
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