There is no magic dust we can use to produce trades like this. The market breathes in and breathes out. We just can't manufacture these account balance swelling trades. Instead we have to take all our signals and be in the trades when they come along. Trades like this occur in every market, real estate, currencies, stocks, bonds, futures, options, and the principles to trade them are always the same for every market. As Conor O'Neill says, the most important thing is showing up.
We aren't taking trades at random. We aren't trying to predict the market. We aren't trying to trade a magic entry indicator. We are trading a philosophy. It's a simple thing really. Use the best methods we can find to get into long running trends. Yours may be different from mine. As long as it works for you, that's fine. Cut losses short (No! Shorter!), let profits run. When the trend bends, get out with as much money as we can. Repeat as needed.
I now humbly confess I wasn't 100% accurate in picking the above 6 trend trades. I had a lot of failed attempts. Here's an honest list of my failed attempts (and a couple small set-up wins) over the past 7 days and how much I lost on each in pips. Losers list: EChf -1, CadJ -10, AN -20, EG -8, UJ +23, EChf -24, NCad -43, CadJpy -33, GChf -43, AN -21, CadChf -1, UChf +27, EU -10, UCad -19, ChfJpy -25, NU -21
I know, that looks bad. About 14 losers and 2 winners. Most people would just hang their head in the dirt and think, this crap doesn't work! Some may turn to their significant other for consolation. Saying, baby the market was mean to me. Some may throw their hands up and shout at the Heavens, What do you want from me?
The trend trader doesn't care. The trend trader is the Honey badger.
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Please don't ask me about your entries. My answer will always be the same. I don't know. It may go up or it may go down. If it wins, hold it or buy more. If it loses, sell it quickly (No! Faster!). You may notice my entry method is no better than a coin flip, 50/50, so why ask me about entries? Obviously I don't know. But if you want to know how to make tons of money in the markets, I have an idea that can help. Simply trade the trend until it bends. Best success to all. - G
Comments? Questions? Complaints? Discussion?
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