FTMO Free Trial Challenge with Nse - Page 3

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@godspowerdan - 1 month ago

Quoted - nsg_usd

Yes it is. currently in profit. Will just hold and see how it goes tomorrow

That's cool

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@godspowerdan - 1 month ago

Quoted - nsg_usd

Asset- NAS 100 (2)
Trade Type - Short Setup

Idea/Approach-I Waited for
a) a 4hr double top to form at the 24842-resistance price level and then
b) invalidation of the 4hr bullish trend support followed by
c) a retest of the trend support as resistance and
d) a 15mins bearish channel pattern to form and confluence with
e) a minor resistance at 29755 and then
e) I Enter at the 15min pullback after the 4hr Engulf at New York session

Execution - Instant
Analysis TF- D1/4hr/1hr/15mins
Entry 2- 29733
SL - 29914 ($90)
TP - 29300 ($216)
RRR- 1:3rrr

Comment: I have 2 positions running on Nasdaq currently in profit. Total risk of $194 for a profit take of $400

$400 is the total profit right?

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@godspowerdan - 1 month ago

Quoted - nsg_usd

it is. price broke below 0.7060, I'll be expecting it to sell down to 0.7020.

Did you sell?

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@godspowerdan - 1 month ago

Quoted - nsg_usd

Day 1 Trade summary on the Account (Mon 10th August)

I took 2 trade setups on the Account
Nas 100 sell 2 positions
AUDUSD sell 3 positions

Total running positions- 5
Total Risk- 0.6% approx.
Profit Target-1%.

Comment: Due to the duration of the FTMO challenge, I won't swing trades or hold them till full TP but will adopt more of a day-trading approach.
I have closed the trades;
Account balance is $99996.
Profit: +$28.28
Swap: -$17.12
Commission: -$15.00
Despite being a Swing Account, swap and commission are being deducted, but I suppose it's lower than non-swing accounts.
for a 1 standard Lot on AUDUSD- swap fee is $5.8 and commission is $5.00
For a 0.5 mini lot on Nas 100- swap fee is $0.14 and no commission is being charged.

Observation: Commissions are being charged on Currency pairs, but not on Indices.

If you can't deal with commissions, then you should trade indices instead

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@godspowerdan - 1 month ago

Quoted - nsg_usd

AUDUSD- Trade Setup Update
Price made it to my TP region, after I closed out the trades. Had the feeling to wait till 6am for the 4hr candle to close before exiting the position, but I closed out around 5am.
Lesson- Should have been more patient, but it's fine.

I feel you're under risking on the account, i suggest you should risk 0.5% or highest 1% per trade so you can pass the account in 14 days

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@godspowerdan - 1 month ago

Quoted - nsg_usd

Day 2 Trade Journal (1) (Tue, 11th August)

Asset- NAS 100 (1)
Trade Type- Short Setup

Idea/Approach- Continuing from yesterday's trade Idea.
Checklist:
a) double top Formation at the 24842-resistance price level
b) invalidation of the 4hr bullish trend support
c) a retest of the trend support as resistance
d) Formation of a 1hr bearish channel
e) Entry after the 6am 4hr Engulf pattern.

Execution - Instant
Analysis TF- 4hr/1hr/15mins
Entry 1- 29716.13
Lot Size- 0.5 mini-lot
SL - 29877.46 ($80.67)
TP - 29296.61 ($209.76)
RRR- min 1:2rrr target

Comment: After closing out on my trade positions on Nas 100 earlier this morning around 4am, I re analyzed the short setup, and it was still valid despite invalidating the LTF bearish channel. so, I re-entered two positions, and set a pending order for the 3rd position.

This is my First trade on the Account today.

You should be more patient with your trades

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@godspowerdan - 1 month ago

Quoted - nsg_usd

Day 2 Trade Journal (1) (Tue, 11th August)

Asset- NAS 100 (2)
Trade Type- Short Setup

Idea/Approach- Continuing from yesterday's trade Idea.
Checklist:
a) double top Formation at the 24842-resistance price level
b) invalidation of the 4hr bullish trend support
c) a retest of the trend support as resistance
d) Formation of a 1hr bearish channel
e) Entry after the 6am 4hr Engulf pattern.

Execution - Instant
Analysis TF- D1/4hr/1hr/15mins
Entry 2- 29701.03
Lot Size- 0.5 mini-lot
SL - 29871.70 ($85.34)
TP - 29298.54 ($201.25)
RRR- min 1:2rrr target

Comment: I'll be holding till the next 4hr closes at 10am, before I reassess whether to continue holding till New York, or to take profit manually if it doesn't get to TP.

The profit target is okay, you should level up your risk to meet up with targeting 10% before 14 days is over

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

Asset- AUDUSD (2)

Trade Type- Short Setup

Trade Thoughts: Watching out to see if the current 15min flag will hold and if Friday's high at 0.7078 will be protected.

Execution: Instant

Analysis TF- 4hr/1hr/15mins

Entry 2- 0.7056

SL - 0.70751 (18pips)

TP - 0.70038 (52pips)

Comment: Trade is currently running in loss. Price is still bullish and I might have to hold till tomorrow.

AUD USD is reversing hold your trade with BE

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

Asset- AUDUSD (2)

Trade Type- Short Setup

Trade Thoughts: Watching out to see if the current 15min flag will hold and if Friday's high at 0.7078 will be protected.

Execution: Instant

Analysis TF- 4hr/1hr/15mins

Entry 2- 0.7056

SL - 0.70751 (18pips)

TP - 0.70038 (52pips)

Comment: Trade is currently running in loss. Price is still bullish and I might have to hold till tomorrow.

AUD USD is reversing hold your trade with BE

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

Asset- AUDUSD (3)

Trade Type- Short Setup

Trade thoughts: Price is currently ranging on 1hr. Hopefully it breaks back below 0.7060 price level. otherwise, it will push to react at 0.7070 price level.

Execution: Instant
TF- 4hr/1hr/15mins
Entry 3- 0.70538
SL - 0.7075 ($212-21pips)
TP - 0.70135 (40pips)

Comment: I had a bad entry for this position 3, and it's currently the one with the highest loss.
Each position was a standard Lot, with total money risk at $526

This risk is too much for you should have held the two previous entries and AUDUSD Is presently reversing back to buys

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

Today's Trade Journal (Mon, 10th August) (3)

Asset- NAS 100 (1)
Trade Type- Short Setup

Idea/Approach-I Waited for
a) double top to form at the 24842-resistance price level and then
b) invalidation of the 4hr bullish trend support followed by
c) a retest of the trend support as resistance and
d) a 15mins bearish channel pattern to form for me to
e) Enter at the 15min pullback after the 4hr Engulf at New York session

Execution - Instant
Analysis TF- D1/4hr/1hr/15mins
Entry 1- 29733
SL - 29914.07 ($104)
TP - 29300.12 ($201)
RRR- 1:2rrr

Comment: This is my second trade setup on the account. The trade is currently running and I'll be holding it till tomorrow. I'll Wait for it to hit TP, But if it gives me a reversal at the 29600 minor support level then I'll exit manually.

Nas100 is showing a reversal on the 4hr timeframe

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

The entries are literally the same as it would have been if I waited for the break below. the trade is currently in profit, but will just be looking out for exit pattern.

You should have exited by now because nas100 is reversing

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

The entries are literally the same as it would have been if I waited for the break below. the trade is currently in profit, but will just be looking out for exit pattern.

Price is still interested in that high, watch closely for a liquidity sweep above 0.70770

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

I'm not trusting this sells, looking like it will soon reverse for buys. A break above 1.1558 price level will invalidate the setup

We don't really know how the NY session will look like I although there is no strong but momentum but for now I will advise you hold with BE

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

Day 1 Trade summary on the Account (Mon 10th August)

I took 2 trade setups on the Account
Nas 100 sell 2 positions
AUDUSD sell 3 positions

Total running positions- 5
Total Risk- 0.6% approx.
Profit Target-1%.

Comment: Due to the duration of the FTMO challenge, I won't swing trades or hold them till full TP but will adopt more of a day-trading approach.
I have closed the trades;
Account balance is $99996.
Profit: +$28.28
Swap: -$17.12
Commission: -$15.00
Despite being a Swing Account, swap and commission are being deducted, but I suppose it's lower than non-swing accounts.
for a 1 standard Lot on AUDUSD- swap fee is $5.8 and commission is $5.00
For a 0.5 mini lot on Nas 100- swap fee is $0.14 and no commission is being charged.

Observation: Commissions are being charged on Currency pairs, but not on Indices.

Good first-day execution. I like the decision to shift toward day trading given the challenge timeline, especially with total exposure kept around 0.6%. The swap and commission breakdown is also useful because those costs can materially affect the final result when positions are held longer. Tracking the actual trading costs alongside the setups should give you a clearer picture of the strategy's true performance throughout the challenge.

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

AUDUSD- Trade Setup Update
Price made it to my TP region, after I closed out the trades. Had the feeling to wait till 6am for the 4hr candle to close before exiting the position, but I closed out around 5am.
Lesson- Should have been more patient, but it's fine.

That's a valuable lesson because your analysis was right, but the exit was slightly premature. If the 4H candle close was part of the original trade thesis, waiting for that confirmation could have allowed the position to mature. Still, securing profit is never a bad outcome. The key is defining your exit condition before entering so emotions don't override the plan.

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

Day 2 Trade Journal (1) (Tue, 11th August)

Asset- NAS 100 (1)
Trade Type- Short Setup

Idea/Approach- Continuing from yesterday's trade Idea.
Checklist:
a) double top Formation at the 24842-resistance price level
b) invalidation of the 4hr bullish trend support
c) a retest of the trend support as resistance
d) Formation of a 1hr bearish channel
e) Entry after the 6am 4hr Engulf pattern.

Execution - Instant
Analysis TF- 4hr/1hr/15mins
Entry 1- 29716.13
Lot Size- 0.5 mini-lot
SL - 29877.46 ($80.67)
TP - 29296.61 ($209.76)
RRR- min 1:2rrr target

Comment: After closing out on my trade positions on Nas 100 earlier this morning around 4am, I re analyzed the short setup, and it was still valid despite invalidating the LTF bearish channel. so, I re-entered two positions, and set a pending order for the 3rd position.

This is my First trade on the Account today.

Solid execution and, more importantly, the setup is supported by multiple confluences rather than a single signal. The double top, 4H support invalidation, resistance retest, and 1H bearish channel give the short a clear technical narrative. I also like that you re-evaluated the setup after the LTF channel invalidation instead of automatically abandoning the higher-timeframe idea. The key now is managing the 2R target without forcing the trade if price starts reclaiming the broken structure.

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@asuquokelvin - 1 month ago

Quoted - nsg_usd

Day 2 Trade Journal (1) (Tue, 11th August)

Asset- NAS 100 (2)
Trade Type- Short Setup

Idea/Approach- Continuing from yesterday's trade Idea.
Checklist:
a) double top Formation at the 24842-resistance price level
b) invalidation of the 4hr bullish trend support
c) a retest of the trend support as resistance
d) Formation of a 1hr bearish channel
e) Entry after the 6am 4hr Engulf pattern.

Execution - Instant
Analysis TF- D1/4hr/1hr/15mins
Entry 2- 29701.03
Lot Size- 0.5 mini-lot
SL - 29871.70 ($85.34)
TP - 29298.54 ($201.25)
RRR- min 1:2rrr target

Comment: I'll be holding till the next 4hr closes at 10am, before I reassess whether to continue holding till New York, or to take profit manually if it doesn't get to TP.

Good re-entry. The higher-timeframe confluences still support the short, especially with the 4H support invalidation and subsequent retest providing a clear bearish narrative. I also like that you re-analyzed the setup before entering again instead of reacting emotionally to the earlier LTF invalidation. With the 1:2 minimum R:R, the key now is allowing the setup to play out while respecting the defined invalidation level.

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@yokoyi - 1 month ago

Quoted - asuquokelvin

Good re-entry. The higher-timeframe confluences still support the short, especially with the 4H support invalidation and subsequent retest providing a clear bearish narrative. I also like that you re-analyzed the setup before entering again instead of reacting emotionally to the earlier LTF invalidation. With the 1:2 minimum R:R, the key now is allowing the setup to play out while respecting the defined invalidation level.

I went long from 4395 after spotting a bullish engulfing on a previous days NY session high sorry wrong chart

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@yokoyi - 1 month ago

Quoted - yokoyi

I went long from 4395 after spotting a bullish engulfing on a previous days NY session high sorry wrong chart

I was referring to gold

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