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Noble Traders

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Forex Mastery

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4 contributions to Noble Traders
So, i started trading a small prop firm challenge.
I know it's too early to start trading, but to gain the experience on demo it wasn't doing it for me mentally. Like I was least bothered with the outcome. So, I just took a small 10k Prop challenge from FundingPips. ( i cannot trade forex legally through a broker in India ). I am just trading Price action so far but getting a better hang of it. I took a couple of trades in GOLD and AUDUSD.
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New comment 2d ago
So, i started trading a small prop firm challenge.
0 likes • 2d
@Harjot Singh @Harjot Singh hey, Harjot. I was just having fun, but there are other benefits and curiosity as well. I wanted the platform. I liked tradelocker interface as it gives me access to the terminal where I can backtest better, I don't have tradingview premium so, I can't go back alot, but with tradelocker I can see all the data.. The change was simply 30$ so, it really wasnt much of deal. I wanted to see how these firms operate as well and what are rules and stuff also the payouts. It's all new to me.
Asian range break Strategy Backtest Results.
https://share.evernote.com/note/a8eeb003-394f-f19c-941b-c51364d85b4e it's my friend's Strategy he's been trading for a couple of years, it looks simple and has very few rules which is good for automation. So far the strategy has a 47% win with 1:2 RR. it should grow a 10k account by 36% in 4 months which is decent but i need something better.
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New comment 17h ago
1 like • 2d
@Harjot Singh Thank you! So, doing multi-timeframe analysis is going to have a certain bias. I want to eliminate the bias in the setup which comes with discretion in price action and replace it with a total absolution. I will put a straightforward setup here as a post. the setup doesn't require me to have a directional bias. That is the only reason why building a setup is taking a so long .
1 like • 2d
@Harjot Singh no no, I trade like a bot actually. I'm good with price action but that is not something I depended on like it's a part of the edge and sometimes give better entry and exits. So, I've 2-3 setups. I simply execute in the market, I do not think because that's what we do when we build a system, we know the rough outcome of the edge so, there's no fear or greed. I exactly know how much I'm gonna loose or how much I'm gonna win like on each trade so it's a no brainer. I do review my trades in the Weeknd but it's not like what was I thinking and stuff but how many entries were there in that week and how much was I able to bank so, as long as I'm able to take more than 50% available trades in that week I'm doing good that is ofcourse because it's a 6hrs market I can trade the entire session which I can't do in forex. Like a lot of people are always looking at the market every night before they start trading. I just get up and goto office and do the exact thing I did yesterday without even looking where the market will go.
Backtesting
Posted previous backtest and todays backtest screenshots. -------------------------------------------------------------------------------------------------------------------------------------------------------------------- Strategy based on: OBV, Stochastic Oscillator, SMAs, Volume indicator Time frames: 1W, 1D, 4h I took about 1.75 hours backtesting. Although I did not enter that many positions, I figured out a few things about myself and my system. I realised that I do not like to be rigid at all times, I like to have SOME flexibility to just say "no I do not want to take this trade, I don't understand it" or "no, I do not want to take this trade because I do not understand my emotions/ internal state at the moment" or "I like this trade, my gut is giving me a good feeling, I have signals ready bar one, I am going to be more careful but be aggresive". Other things I noticed, the system does provide good signals, most of the time the trades do end up hitting profit. If it weren't for myself revenge trading on a backtest late last session, this strategy would be looking a lot hotter 🤣 on the screenshots. -------------------------------------------------------------------------------------------------------------------------------------------------------------------- Something I learned about market structure; ------- 1) Sometimes there are bigger moves waiting to happen when key areas on higher time frames are providing signals. I had a few trades which were potential 9:1 R/R trades that I only closed for 2:1 R/R (Cue the revenge trading emotions again because I missed out, this time I just decided not to trade those pairs up until the next divergence came around on the highest time frame I trade). ------- 2) Keeping an eye out for those would be beneficial in the future, although as of right now I am only running a very rudimentary backtest to get a feel of my system and myself. Especially considering if I test dynamic position sizing, those winner could be ALPHA (needs to be tested).
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New comment 17h ago
Backtesting
1 like • 2d
@Harvin Singh Hey Harvin, Great work mate! However, do test it out in the live market. we usually cut 10%-15%winrate from backtesting due to human error. Also, if you are making a strategy I'd suggest do not put "trader's Gut" into it. I've realized over the years it makes you feel good in the moment that you've outsmarted the system but usually, the returns get affected in the long run.
Hello Everyone!
I’m Aakash from Mumbai, India. 📈 I’ve been trading for 4 years and 3 years as a full-time prop trader, primarily focusing on Indian market derivatives trading. 🎯 My top three trading goals are: 1. Diversify my trading portfolio with Forex 2. Freedom of location. 3. Reduce my screen time. 🚧 Currently, I’m facing challenges with: - Finding the right strategy/setup in FX - Time allocation 🚀 My biggest aspiration as a trader is: - Opening my physical prop firm. I’m excited to connect with all of you and look forward to learning and growing together!
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New comment 6d ago
1 like • 6d
@Harjot Singh Thank you Harjot for your kind words. I am working towards putting the strategy part on paper as soon as possible
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Aakash Kale
2
9points to level up
@aakash-kale-8344
A Full-time Derivatives Trader and a Forex Noob.

Active 45m ago
Joined Dec 18, 2024
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