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Rush2112 Oct 20, 2019 4:44pm | Post# 1

From Concept To Profitable Trading

Traders,

I am starting this thread to document the complete process of “From Concept To Profitable Trading”. This is a multi-year commitment where I am going to make the process of starting from scratch with a concept and building into a profitable trading system.

Philosophy

My goal is to become a professional trader earning income through trading and to say goodbye to my day job in the near future. Trading has always been a passion of mine and I have traded stocks and forex over the years as a hobby since 2001. Over the last year, I have been trading the futures market and looking to apply similar concepts to a Forex battle plan.

I have had a successful business career (still in progress), just entered my 50’s, and my kids are now older about ready to leave the nest. Those of you with a young family knows the challenge of providing for them and attempting to make a change from stable employment to trading. With those responsibilities winding down, I am now in a position to chase my passion.

I would imagine most people on Forex Factory are in a similar position. You love trading and you are trying to figure out how to make it your day job. I hope this journey will help some of you in some form or fashion.

Much of the information about completing this process is detailed. Instead of writing a novel here, I will share as much information via short videos (approximately 20 mins) of the information I am processing. Instead of reading pages and pages of information, short videos may be easier for people to follow. In addition, I will create a YouTube channel called “From Concept To Profitable Trading” which will store videos generated.

As you can see from my philosophy, I treat this very seriously. Trading is a business and money is involved, so it should be serious. If you decide to participate in this thread (and you are welcome) - be respectful, stay on point and have transparency. People who work together learn from each other for continuous improvement. As I will explain in some of the concepts, we will fail, make mistakes and lose trades – that is part of the process and the business. If you are participating in Forex Factory for social media enjoyment and to create drama, please go to another thread where that is the intent of the owner.

Finally, I believe in keeping it simple. No indicators will be used, simply price action, structure and a few drawing tools.

Objectives

To systematically create a profitable trading plan AND execute it consistently to achieve 20 pips per day

Develop a profitable trading account with minimal financial investment and risk

Document this process to share for the benefit of others

Process

Review Market & Institutional Trading Model Concept - Post #8

Trading Idea To Match Market Movement - Post #12
- Probabilities, Risk:Reward, Stop Loss

Money Management Plan - Post #14

Draft Trade Plan

  1. Overview - Post #18
  2. Pre-Trading Analysis - Post #19
  3. ABCD Pattern Criteria - Post #28
  4. Trade Entries - Post #29
  5. Trade Management / Money Management - Post #30

Discipline and Emotional Control

Open $1,000 Demo Trading Account With Public Results Viewing For Transparency - Complete and attached to the thread

Adjust Trade Plan Until Positive Expectancy and Profitability Is Achieved

Open $1,000 Live Trading Account With Public Results Viewing For Transparency

Once $2,000 Has Been Achieved, Remove $1,000 Investment

Continue To Grow Live Trading Account By Following The Trade Plan


MrGreen95 Oct 20, 2019 5:20pm | Post# 2

Subscribed. I wish you good luck for this journey (Even if luck, in trading, at the end doesn't count so much! So i wish you also to be determined and focused, even when you'll face losses. This is the thing that count)

artic118 Oct 20, 2019 7:13pm | Post# 3

Waiting for more info

TraderinSD Oct 20, 2019 8:19pm | Post# 4

Preservation of Capital + Trading Consistency = Profitability ... "in that order"

All the best

KeenPips Oct 21, 2019 3:53am | Post# 5

Good to have a refreshing point of view on Forex trading. But keep it simple. Besides, will this thread be better placed under ' Trading Discussion '?

KP

gunner1 Oct 21, 2019 3:56am | Post# 6

From Concept To Profitable Trading Traders, I am starting this thread to document the complete process of “From Concept To Profitable Trading”. This is a multi-year commitment where I am going to make the process of starting from scratch with a concept and building into a profitable trading system. Philosophy My goal is to become a professional trader earning income through trading and to say goodbye to my day job in the near future. Trading has always been a passion of mine and I have traded stocks and forex over the years as a hobby since 2001....
Good luck!

Mvelase7 Oct 21, 2019 12:26pm | Post# 7

From Concept To Profitable Trading Traders, I am starting this thread to document the complete process of “From Concept To Profitable Trading”. This is a multi-year commitment where I am going to make the process of starting from scratch with a concept and building into a profitable trading system. Philosophy My goal is to become a professional trader earning income through trading and to say goodbye to my day job in the near future. Trading has always been a passion of mine and I have traded stocks and forex over the years as a hobby since 2001....
Wow looking forward to this journey, will be checking in now and again to see progress and am very interested in joining you in this journey of Trading with a 20Pip Per Day goal. I'm definitely sharing same sentiments with you.

Rush2112 Oct 23, 2019 2:40am | Post# 8

Market Concept + Institutional Trading Model. Sorry if the video quality or sounds is not the greatest. Still working on developing a good program and set up for short videos.

Inserted Video

hgbcreator Oct 23, 2019 12:37pm | Post# 9

thank you bro good start

vmelnikov Oct 23, 2019 4:33pm | Post# 10

1 Attachment(s)
What about this case regarding gbp/usd?
Click to Enlarge

Name: FC2C1082-AF79-41CB-A3EE-4C6C358A7F81.jpeg
Size: 272 KB

vmelnikov Oct 23, 2019 4:39pm | Post# 11

1 Attachment(s)
Or this one: price drops below consolidation box and continue to move further
Click to Enlarge

Name: 58A0782A-00C8-4145-96A9-F9BEB0977C50.jpeg
Size: 280 KB

Rush2112 Oct 24, 2019 1:38am | Post# 12

Trading Ideas To Match Market Movement, plus Trading Probability, Risk: Reward

Inserted Video

Rush2112 Oct 24, 2019 2:19am | Post# 13

Or this one: price drops below consolidation box and continue to move further {image}
The box you have drawn there is fairly large and as I look at the backtesting, I would assume a tighter range. An area which shows the price action I discussed would be the range between 1.2419 and 1.2458, then we have the false move above the box, then whipsaw back below. Ultimately the trend (or phase 3) continues with the move to the downside.

Rush2112 Oct 25, 2019 12:21am | Post# 14

Money Management Plan

https://youtu.be/XAFQYhPd5T8

goodways100 Oct 25, 2019 1:41am | Post# 15

Reading with keen interest. Thanks for the thread.
Regards

kofix11 Oct 25, 2019 3:32pm | Post# 16

Very well-grounded information. Thank you! I love to hear more.

Rush2112 Oct 25, 2019 11:19pm | Post# 17

3 Attachment(s)
Information from the money management plan video. Articles explaining money management theory and spreadsheet.

Smoothed Ratio Money Management.pdf
Fixed Ratio Money Management.pdf
Money Management Template.xlsx

Rush2112 Oct 26, 2019 9:52pm | Post# 18

Trade Plan Overview - Part 1

https://youtu.be/F_WsgYnk4jY

Rush2112 Oct 27, 2019 3:37pm | Post# 19

Pre-Trading Analysis

Inserted Video

jgadefelth Oct 28, 2019 3:40am | Post# 20

Hi how would the Money management be on Forex if you have an 10000 dollar account ? also 22 percent in drawdown isnt that Little high if one likes a good night sleep

Best regards


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