OP
can you show us your trading history from my fxbook?
can you show us your trading history from my fxbook?
Your and My Lessons Learned Losing and Gaining in Trading 5 replies
things you learned from forex and improved your life 12 replies
The most important lesson’s I’ve learned trading Forex, so far... 15 replies
Disliked{quote} The reality is that all the Trading Gurus want you to believe that you can make hundreds of pips from a beach in Fiji. All your money management should be based on these levels and the probability of them holding!!! This was the Golden Goose for me it really changed my risk control.Ignored
Disliked{quote} The truth about renko is that the chart you have posted tells you absolutely nothing, because renko gives you no sense of time. The 190 pip rise could have been an impulse spike occurring over a few seconds, making it untradable. The same holds for all other moves.Ignored
Disliked{quote} I never understood the need for people asking traders for 'proof'/trading records/explorers/statements (if they dont want to post it for any reason) on a public forum, for free info/strategies/advice/hints etc. Nobody has to prove anything to anybody. It's always a take it or leave it - as is. Everyone is free to say or claim whatever they want here and on any forum. Either we choose to believe or ignore it and move on. Of course there are bullshitters, scammers, but also genuine people who want to help. FF has all of them. It is upto us...Ignored
DislikedSome of you are confused so I will clarify. These lines are nothing more than .25% .50% .75% 1% of the days move (from the open) above or below the market. We know for a mathematical fact that the market stays/closes within a plus or minus .50% move 85% of the time. SEE MY PREVIOUS POST WITH 1 year DATA SPREADSHEET ^^^ Your entire trading strategy and most importantly your Money Management rules should all be built off this fact. I specifically use these levels for calculating risk because if the market stays within the plus or minus .50% range...Ignored
Disliked{quote} The lines are preset %change calculated from the Open of the day based on Ceeso's post. There're input options available for you to set it on whatever %change you choose based on whatever timeframe from h4 upwards for whatever number lookbacks.Ignored
Disliked{quote} One of the trick is to have a good strategy and be economical in trading. Below is a 10 pips Renko chart and you can see you could have collected 90 pips yesterday and 290 pips so far today. Of course this is the ideal scenario but even if you collected half these pips I'm sure you would be quite happy. {image}Ignored
DislikedHey, Guys, I am not here to sell you anything LOL I already told you in my very first post!! DO NOT BELIEVE ANYTHING ANYONE IN FORUMS OR CHAT ROOMS (ESPECIALLY GURU'S) TELL YOU. THIS WAS ONE OF THE BIG REASONS I LOST A LOT OF MONEY. I WAS TRUSTING STRANGERS. SO DO NOT EVEN BELIEVE ME!! TEST THINGS OUT FOR YOURSELVES OVER A VERY LARGE SAMPLE SIZE!!. The trading world is filled with people that are fooled by randomness. It is also filled with people that have an agenda. The human mind is the biggest problem I had to overcome. Lesson Number 6. Accept...Ignored
DislikedIf you mark off the .25 .50 .75 and 1% levels and you watch them you will be AMAZED and how the market respects these levels!!! However, be very clear these are not Support and Resistance Levels! Although sometimes they will react like they are. These levels should be used to position size your trades and your stops correctly!!! Remember the market is Random 85% of the time so if you have too tight stops inside that .5% average range you will get stopped out way too much. That does not mean you can't or should not use tight stops but it does mean...Ignored
DislikedThis is my first forum post but I am not a newbie. I have lost about 300,000$ trading forex over the course of 5 years and it has been a huge struggle, to say the least but I kept persevering and educating myself and this year I am finally profitable to the tune of $130,000. After all this time and stress (and finally a very good mentor) I figured out some basic truths about forex trading. 1. You have to Master Money Management first and foremost. Forget EVERYTHING else and learn to lose like a professional. I spent tens of thousands of dollars...Ignored
Disliked{quote} But at the started of that day you don't what the open-close range will be. So going back to your stated stats that 85% of the time price is in +/- 0.50% of the open-close range you can only know and apply this AFTER the trading day has completed. Or with respect to your Rule Number 5. Your money management must be based on VOLATILITY and it must change when Volatility Changes!!! ... are you taking the prior days range and projecting that onto the new developing day to draw these .25, .50, .75, 1% levels? That way you take account of volatility...Ignored
Disliked{quote} Finally, a very good observation that we can all use. Yes, even after 3 years of live and successful trading I at times pull the trigger just "because I think PA will move up or down and I do not want to miss that". It is called FOMO. You mentioned "techniques to retrain my brain to request the Dopamine release". I am interested, what is the technique?Ignored
Disliked{quote} There is something called Dopamine Detox that I found extremely helpful but I had this done with a private psychologist. I had to pay for several one on one sessions and every person is different so not sure if that will help you but I think the main point is that I had to admit and accept that this was a big problem and that was the first step to retraining myself. The simple answer is to try and reward yourself when you do a trade that follows all your rules. No matter the outcome of the trade reward yourself over and over and over again...Ignored