Papi Pips

$XAUUSD FUNDED TRADER
NY Session Price Action Trader
A journal of all my thoughts

[Papi Pips @PapiPips88418]

🚨 Most traders make the SAME mistakes over and over.

I spot them in minutes and show you exactly how to fix them.

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[Papi Pips @PapiPips88418]

@yisak45952 shoot me a DM and lets talk about it

[Papi Pips @PapiPips88418]

whats ur watchlist?

[Papi Pips @PapiPips88418]

@thapeloforex_ wait for more info, this is not a market regime I want to trade

[Papi Pips @PapiPips88418]

Currently building a web app to help traders with analytics and performance based metrics.

Here you can talk directly with an AI to help you figure out your best edge.

think of this as your personal trading JOURNAL, STATISTICS, AI, PSYCHOLOGY TRACKING. everything you will ever need.

DM me if you want more details or early access

[Papi Pips @PapiPips88418]

@CRT_femme i did a buy at london open

[Papi Pips @PapiPips88418]

Backtest results

[Papi Pips @PapiPips88418]

Chat is this doable?

[Papi Pips @PapiPips88418]

TRADING DOES NOT WORK
let me explain:

trading is finding and edge to the market, problem is the market is in constant adaptation for fair value.

the more people know about an edge the less that edge exists, lets say retail strategies on youtube for example.

the way to make it in trading is to either find your own edge or to have your specific risk management parameter which allows you to lose less than you should or to get profit even when your trade idea is wrong

[Papi Pips @PapiPips88418]

From my research I will remove trades amount volume.

I like london and ny sessions so I will allow myself 2 trades per day one per each session.

Ideally around session opens

if london is a win then I will skip the rest of the day
if london is a loss then I will trade ny
if ny is a win im done for the day
if ny is a loss im done for the day

this way I minize possible losses outcome by sample size.

[Papi Pips @PapiPips88418]

taking a break from trading

will be doing some optimization

[Papi Pips @PapiPips88418]

$xauusd seems good for buys to me. Clean close above resistance, wickfill scenario and even more confirmation once price breaks the high of last week. so far so good, week opened and price drove down creating that bottom wick, which we want in the 1st half of a candle

[Papi Pips @PapiPips88418]

@CRT_femme Im getting into buys because of the weekly close

[Papi Pips @PapiPips88418]

Current backtesting stretegy is getting 64% winrate

Im trying to make it the most mechanical possible so that I can code it and make it run 24/7 and optimize it until i have a 80% winrate

[Papi Pips @PapiPips88418]

Backtesting some Data

[Papi Pips @PapiPips88418]

step by step pre trade analysis

4h is the highest timeframe i can see structure on in this price leg that i want to trade. these are the snr

this trade was taken by a resistance rejection

remember you can only enter trades on these conditions:

buys: break and close above a resistance or rejection of a support

sells: break and close below a support or a rejection of a resistance

partial targets are lower timeframe snr with the overall higher tmf target in mind

[Papi Pips @PapiPips88418]

Video analysis of what happened with $xauusd and how you could've taken this.

[Papi Pips @PapiPips88418]

Need Help With Your Trading? -> https://t.co/F5Cgqcb3eT

Happy To Help You

[Papi Pips @PapiPips88418]

You don't need to trade every day

You don't need to trade every week

Just need to pick the best trades

Focus on not losing

And you will end up winning

[Papi Pips @PapiPips88418]

$XAUUSD how is this even tradable?

[Papi Pips @PapiPips88418]

@ZocopMC hey, I didnt know it was closed off, check now, happy to be contacted. thank you

[Papi Pips @PapiPips88418]

be careful, this is 4h $xauusd

seems like price might close below support which for some people might be sells.

however notice that the candles are getting smaller, meaning sell pressure is dying, means that price found a support and is more likely to now move upwards.

notice the lower timeframe now (image 2), 15m chart

a resistance was created on the 15m (30m-1h are very far away)

meaning we might need to wait for some more structure to develop so that later on we can decide on buys or buy straight up from the 15m resistance break.

safer option is to wait for a 30m or 1h resistance to be created and then broken