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-   -   5 years and still no strategy (https://www.forexfactory.com/showthread.php?t=656830)

jmn5611 May 17, 2017 8:58pm | Post# 1681

freakout, i have a simple advice to give you forget about forexfactory.com for like ......6 months get some basic books and read them steve nison - candlestick charting techniques\ john murphy -technical analysis of the financial markets van. k tharp - trade your way to financial freedom these 3 are one of the few basic books. and when i say basic books i mean it all the other books ( which 75% are either crap or rehash the ideas in the 3 books i gave you) all the posts in forex factory no matter how good they are have less good info compared with...
I would add to this the books from Al Brooks and Edwards and Magee. But I think the OP knows the basics. I think his trouble was inconsistency.

VEEFX May 17, 2017 9:02pm | Post# 1682

If there is one thing that this thread has officially concluded after ~85 pages it's that newbies don't have a strategy. Experienced fools stick to a strategy. Experienced professionals don't stick to a strategy.
Experienced professionals fools don't need to stick to a strategy. They have too much OPM to throw at their research geeks. Win win for all

VEEFX May 17, 2017 9:05pm | Post# 1683

{quote} NO. You can make a good bet and get SL hit. You can make a bad bet and get TP hit. Just because you hit TP does not mean you will hit TP again with same setup or same entry.
Curious if anyone has tried to make just one pip per trade/day consistently (after spreads/commissions)... even in demo for more than a year?

Edit: or 1$ or 0.01% whatever works for you

VEEFX May 17, 2017 9:15pm | Post# 1684

{quote} You have to go for the home runs. If you swing just to go to the next base there is no guarantee that you will reach home base.
I understand that. I am just asking if anyone has attempted this feat. Even if it is net pip/$/% for hour/day/week or whatever.
i have tried it but only as realized profit and not via 'Close-All'... which is worthless attempt. This was manual before I could code. Now with my automation n, it might be worth the try

VEEFX May 17, 2017 9:50pm | Post# 1685

{quote} I think you are trying to trade like you would a job. That is get regular income to pay the bills. I tried and it did not work for me. Market conditions change over time. For you to get regular pips on a daily, weekly basis the market conditions has to remain the same for your lifetime.
How would you define consistency?... in your trading... and not the text book definition

Copernicus May 17, 2017 10:20pm | Post# 1686

{quote} Yep. I am in no rush to get rich from trading. My career remains my primary focus. Trading I just my passion and therapy to ignore the chaos in the world around me. I already have a date in mind to quit and live off the bush by myself and my satellite dish :-)

Heheheheh..I can smell some permaculture in mind. We have similar ideals :-)

Imagine a small community off the grid in a productive setting who are like minded, can pull their weight....are proficient traders and like growing their own organic produce. Now that's what I call nirvana.

VEEFX May 17, 2017 10:27pm | Post# 1687

{quote} Heheheheh..I can smell some permaculture in mind. We have similar ideals :-) Imagine a small community off the grid in a productive setting who are like minded, can pull their weight....are proficient traders and like growing their own organic produce. Now that's what I call nirvana.
Like a Forex Cult LOL

Copernicus May 17, 2017 10:30pm | Post# 1688

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{quote} Like a Forex Cult LOL
We can share wives of course....I mean that's what they all do...../tic :-)

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VEEFX May 17, 2017 10:35pm | Post# 1689

{quote} We can share wives of course....I mean that's what they all do...../tic :-)
I better retire soon then :-

jmn5611 May 17, 2017 10:40pm | Post# 1690

{quote} You are no professional trader. If you are trying to make a living off trading you will blow your account. You don't even know how to apply MM as you get SL hit all the time. Your ADX breakout strategy backtested shows a huge loss. You are a low TF trader where all the losing traders are. No original ideas since candlesticks-what rubbish
The fact that your handle is of a woman who has been twice knocked out and is no longer fighting tells us all what you are about.

Now, because again, I have an obligation to those who read what I post, getting stopped out often is part of the game. As long as you stick to the traders equation, you will be fine.

{quote} Heheheheh..I can smell some permaculture in mind. We have similar ideals :-) Imagine a small community off the grid in a productive setting who are like minded, can pull their weight....are proficient traders and like growing their own organic produce. Now that's what I call nirvana.
I have a passport. If it ever happens, ring me up. I will be there in a day.

Copernicus May 17, 2017 10:48pm | Post# 1691

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{quote} I have a passport. If it ever happens, ring me up. I will be there in a day.


Awesome....now the only prerequisite required is..........what's your wife like?....../tic :-)

PS Only joshin'.....but I have thought seriously about the perma-culture concept with a group of like minded individuals who are well capitalised, have no debts and can trade for wealth creation as a long term income stream (the primary obstacle for an 'alternative' collective) ....Work and resource sharing and opportunities as a collective (for example to acquire holiday retreats across the world) has a certain ring of joy about it. Food forests rock!!!!!

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Sepp Holzer.....My idol (here is his son speaking about the farm :-)

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jmn5611 May 17, 2017 10:52pm | Post# 1692

{quote} How would you define consistency?... in your trading... and not the text book definition
My idea of consistency is being able to pay the bills monthly.

{quote} Awesome....now the only prerequisite required is..........what's your wife like?....../tic :-)
Ha! I have had two of them! Now I only keep girlfriends.

jmn5611 May 17, 2017 11:32pm | Post# 1693

{quote} ROFL. how much of a noob are you? Surely your mind cannot be that simple. VEEFX, is this the answer to your consistency question? to pay monthly bills.
If you are a professional trader, your goal is to live off of what you produce, right?

Stop playing with a small account, and you will find that ten pips a day will pay your bills son.

PayTheLimit May 17, 2017 11:43pm | Post# 1694

{quote} My idea of consistency is being able to pay the bills monthly.
I'm glad, after all these years on FF, someone finally said it.

PayTheLimit May 17, 2017 11:56pm | Post# 1695

{quote} If you are trading because you want to make a living off trading then you will never win at trading.
What the hell are you talking about. Tell that to the hundreds of thousands on guys in Chicago and New York and then went down to the pits over the last 150 years. Sure maybe not all of them, but the vast majority of them where working men. They went down with a stake, tried to learn the business, and tried to make money to support their families.

yousername May 17, 2017 11:59pm | Post# 1696

http://www.hbo.com/westworld/episode.../synopsis.html

Westworld

“You never understand, the game is rigged. You’re here to be the loser. You see, the house always wins.” - The Man in Black
Teddy and the Man in Black ride in

Are we Teddy or MIB?

yousername May 18, 2017 12:02am | Post# 1697

{quote} This is by far THE BEST post I have ever read on FF (so far)! Spot on! What actualy might help the poster who is about to give up: Uncle Teek's 7 Steps of hell: 1 - FORGET EVERYTHING you think you'd know 2 - remove EVERYTHING from your charts (I want you to look at the naked chart, only candlesticks, NOTHING ELSE!) 3 - please go to H1 & M15 for this excercise (DO IT) 4 - Anytime you want to take a trade: DON'T --- instead: draw a horizontal line to where you would have placed your trade, and one line to where you would have placed your...
Your #1 step reminds me of

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PayTheLimit May 18, 2017 12:05am | Post# 1698

{quote} And most ended up broke trying to trade. They got a base salary for their efforts.
These was no base salary. You lived off your profits. Those who couldn't hack it, left. Period.

yousername May 18, 2017 12:05am | Post# 1699

{quote} If you are trading because you want to make a living off trading then you will never win at trading.
What is your drive? Your motivation for trading I wonder?

hilmy83 May 18, 2017 12:09am | Post# 1700

{quote} What the hell are you talking about. Tell that to the hundreds of thousands on guys in Chicago and New York and then went down to the pits over the last 150 years. Sure maybe not all of them, but the vast majority of them where working men. They went down with a stake, tried to learn the business, and tried to make money to support their families.
i think my iq went down 5 points reading his shit.

yup..now i can't calculate 1% risk anymore


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