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- Because they DO exist...
- Last Online:
- Jan 10, 2017
- Using Local Time:
- 7:34pm
- Joined Forex Factory:
- Nov 2006
Input by Pipskateer
About
- Trading From:
- United States (map)
- Biography:
- Trading is very simple...it's all about finding the "cheapest" places to get into the market and then getting out with profits several times greater than what you risked to get in.
To do that you must NEVER get married to your trades or your current directional biases. Don't ever argue with the market or try to beat it...just go with the flow. Profits must run wild and risk free...losers must be cut off quickly.
One thing I've recently learned is that when you finally begin to set your sights on better structured trades, you actually begin FINDING them. And yes, this statement implies that the trader must actively and purposefully STRUCTURE his/her own trades.
I never used to bother looking for +2:1 Reward/Risk trades because I didn't believe they would be plentiful enough. But once I began looking for them, I began seeing 4:1 trades....6:1....and 10:1 opportunities.
My Holy Grail? Find a setup that works for you on a higher TF...and then find a way to get into that setup VERY CHEAPLY on the lowest TF you can. Your "risk" is your lower TF...your "reward" is your higher TF.
Don't pay a premium to ride the profit bus. And once you get ON the bus...ride it to the end of the line! Rinse and repeat...
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