The Thief of Wall Street
- Joined Apr 2013 | Status: Now I know you | 5,816 Posts
don't predict direction, but dance with flow of water
BASKET TRADE Management: Using multiple trade management EA's on basket trades 9 replies
Alternative Trade Management/Money Management Methods 3 replies
Money Management..keeping the money... 39 replies
Money Management / Risk Management 24 replies
Help with Money Money Management Please! (Free EA) 4 replies
DislikedMoney Management and Strategy (Sun Tzu), my favorite 2 topics, i will be watching with interest.Ignored
DislikedSo where is that simple method I promised in my first post and where is money management? Here they are, but give a 15 to 20 minute smoke break.Ignored
Disliked{quote} If we analyze these charts, they show very simple things. The only complications are the lines that we draw on them. Let me know if I am wrong in my this following analysis: 1. Price goes up and down 2. In long term, it maintains a direction to a great extent but in short term it fluctuates. Even if it fluctuates in longer term, these fluctuations are pretty big and not merely for 100 or 200 pips 3. Not always, but many times it tries to move in steps. Some call it trends, making HH/ HL and LL/LH 4. Unlike a staircase, these steps are not...Ignored
Disliked{quote} Look at this chart. It has been marked for bull movements. Yellow are the small steps or secondary/small trends and Blue is the Primary/major trend. Note the arrows. These are low risk entries. {image}Ignored
Disliked{quote} Whenever price first time comes near the starting point of a preceding major move, it bounces off. Now analyze the same chart to see if it also true for down moves.Ignored
DislikedI don't know what market did, but I did these two things: 1. Enter / Exit at appropriate time, except one trade where I put a tp and went to bed. 2. Money Management. The tactic used this time was to have tight sls at key levels. {image} {image}Ignored
Disliked{quote} Now watch this. This is why I went long near the green marked areas and short near the red marked areas. But this is not all. There are two more things in this package, 1. Timing and 2. Money Management. {image}Ignored
DislikedThe foregoing 4 charts illustrate the case for Price Action Rules. Then there are the MM which is a must. Simplicity on the wholw isbest in my opinion. I vote for all newbies having access to the logic and illustrations as presented here early in their evolution. Great thread Chicky.Ignored
As a result, your win rate should be more than 55-60% which is too far from most known strategies' capabilities.
If you think I'm wrong, please correct me. Thank you...