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The REAL Traders Video Journal, 3-5% per month as a US trader

  • #221
  • Jul 26, 2017 12:30pm Jul 26, 2017 12:30pm
GBP/JPY M30 Sell Trade
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  • #222
  • Jul 26, 2017 12:38pm Jul 26, 2017 12:38pm
Quoting Cubbybgood
{quote} I'm happy to here this! Most people get hung up on risk/reward. We were all taught early on that good risk/reward management was letting your winners run and cuting your losses short. I later found out that was complete crap. At least it was in today's market. All the tools available to retail traders are old and outdated. This garbage just keeps getting recirculated or repackaged. It's awful to see this keep happening. You will notice that the best systems can give the best trades but they can also give the worse possible trades ever as...

One important lesson I have learnt is that, often, Price has to move counter to it's intended direction to hoover up Orders that where missed the first time.

See my current Counter Trend Trade GBP/JPY
  • #223
  • Edited 1:41pm Jul 26, 2017 12:58pm | Edited 1:41pm
Quoting faatkumo
{quote} Hey so I've been thinking of the same, is there anyway to avoid this? Such as the "AntiSpikeMode" on traderagent? Also, if someone would be kind to confirm TP setting on TradeAgent. I know through Cubbys video he enables a .5% Close all positions option, or something to that extent... Is it possible just to have that 50 pip target for all those trades? I'm unclear of this.
I don't know, what the Trader Agent is capable to do, but within an EA, there several ways to implement a volatility filter.
The core is to relate price movement to time.
  • #224
  • Jul 26, 2017 1:30pm Jul 26, 2017 1:30pm
So this strategy is basically wait until the RMI gets over 80 or below 30 and look or inside bar? Please any one correct me if i'm wrong?
This is not investment/trading advise. Will not hold accountable for loss
  • #225
  • Jul 26, 2017 1:37pm Jul 26, 2017 1:37pm
Quoting faatkumo
{quote} Hey so I've been thinking of the same, is there anyway to avoid this? Such as the "AntiSpikeMode" on traderagent? Also, if someone would be kind to confirm TP setting on TradeAgent. I know through Cubbys video he enables a .5% Close all positions option, or something to that extent... Is it possible just to have that 50 pip target for all those trades? I'm unclear of this.
My volatility meter is simple...

1. Don't enter on the same candle twice no matter what.

I do recommend the Trader Agent software if you plan to trade my strategy manually.
  • #226
  • Jul 26, 2017 1:41pm Jul 26, 2017 1:41pm
Quoting yousername
So this strategy is basically wait until the RMI gets over 80 or below 30 and look or inside bar? Please any one correct me if i'm wrong?

No, it's not that simple. The RMI indicator is good on it's own but it only tells us when the market/pair is overbought or oversold. We need further indication when and where the market/pair may reverse. Watch my video series....
  • #227
  • Jul 26, 2017 1:46pm Jul 26, 2017 1:46pm
Quoting stevepatt
{quote} One important lesson I have learnt is that, often, Price has to move counter to it's intended direction to hoover up Orders that where missed the first time. See my current Counter Trend Trade GBP/JPY

I have still yet to find a good consistent log-term trending system. I've searched now off and on for 4 years. Why have I not had success in a trending market you may ask? Because the trend is not your friend. I have specific EA's that have looked for trends in the market and they have always been beat out by my counter-trend EA's. It's because no one knows how long that trend will actually go for till it's over. What I do know and this is FACT, The further a pair moves in one direction with little pullback, the more prone it is to a pullback or complete reversal.
  • #228
  • Jul 26, 2017 1:51pm Jul 26, 2017 1:51pm
Quoting Cubbybgood
{quote} I have still yet to find a good consistent log-term trending system. I've searched now off and on for 4 years. Why have I not had success in a trending market you may ask? Because the trend is not your friend. I have specific EA's that have looked for trends in the market and they have always been beat out by my counter-trend EA's. It's because no one knows how long that trend will actually go for till it's over. What I do know and this is FACT, The further a pair moves in one direction with little pullback, the more prone it is to a pullback...
Would you mind share some info regarding your EA that looked for trends please?

Thank you Chubb
This is not investment/trading advise. Will not hold accountable for loss
  • #229
  • Jul 26, 2017 2:32pm Jul 26, 2017 2:32pm
Quoting stevepatt
GBP/JPY M30 Sell Trade {image}
GBP/JPY M30 Short Trade Result

+50 Pips +0.5%
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  • #230
  • Jul 26, 2017 2:35pm Jul 26, 2017 2:35pm
Quoting yousername
{quote} Would you mind share some info regarding your EA that looked for trends please? Thank you Chubb

Sure. The EA basically does what I do in counter-trend trading but with the trend instead. The EA would look for pullbacks in the trend and re-enter after an inside candle setup. I used a custom trend filter for the EA to read. This proved not to be successful in the long-term in anyway...so far.
  • #231
  • Jul 26, 2017 2:52pm Jul 26, 2017 2:52pm
Quoting Cubbybgood
{quote} I have still yet to find a good consistent log-term trending system. I've searched now off and on for 4 years. Why have I not had success in a trending market you may ask? Because the trend is not your friend. I have specific EA's that have looked for trends in the market and they have always been beat out by my counter-trend EA's. It's because no one knows how long that trend will actually go for till it's over. What I do know and this is FACT, The further a pair moves in one direction with little pullback, the more prone it is to a pullback...

I know what you mean.

I look at Market Structure to determine if Price is currently favouring Bears or Bulls.

I then look for the nearest Swing Points that can affect PRICEs progress if they are at Whole and Half numbers so much the better.

I then wait for PRICE to reach that Level and OBSERVE how PRICE Reacts once it gets there. The faster Price moves to a Level of interest the better.

Is there enough room for Price to move, in my direction, before it reaches another Swing Point or Whole - Half Number?

By following Price like this you can Trade both with the "Trend" and "Counter" to it.
  • #232
  • Edited 3:28pm Jul 26, 2017 3:09pm | Edited 3:28pm
Quoting stevepatt
{quote} I know what you mean. I look at Market Structure to determine if Price is currently favouring Bears or Bulls. I then look for the nearest Swing Points that can affect PRICEs progress if they are at Whole and Half numbers so much the better. I then wait for PRICE to reach that Level and OBSERVE how PRICE Reacts once it gets there. The faster Price moves to a Level of interest the better. Is there enough room for Price to move, in my direction, before it reaches another Swing Point or Whole - Half Number? By following Price like this you can...
This is exactly how I trade manually!

I watch price to see how it behaves at whole numbers and past major S/R points. If I see price slowing and giving me my setup in combination with ether of those 2 things mentioned, I know I have a golden technical setup. Will it work out every time? No, but when it comes to technical trading I don't think it gets any better. What usually causes my trades to go against me for a while is when fundamental and political news events happen to go against me. I can't control those and they happen when I'm in and out of trades. It's part of this world having trades fallow through the news. it's also very important to have a good trading risk plan to help fight the fundamental/political storm us traders can't possibly control. That in the end, is what will save us in the long-run.
  • #233
  • Jul 26, 2017 9:50pm Jul 26, 2017 9:50pm
Quoting saad007
{quote} AUDCAD worse exit.Missed PB rejection. {image} EURGBP new entry running {image}
Good morning everyone
It was more than 30+pips.
Forget to place TP at .89500
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  • #234
  • Jul 26, 2017 11:54pm Jul 26, 2017 11:54pm
GBP/CAD D1 Observations

GBP/JPY M30 Observations Post #229
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  • #235
  • Edited 1:57am Jul 27, 2017 1:46am | Edited 1:57am
Quoting stevepatt
GBP/JPY M30 Sell Trade {image}
GBP/JPY M30 Observations

Wait for Price to show it's hand. (Bearish Inside - Engulfing Candle)

I'm not going to be around to see this develop. (Work)
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  • #236
  • Jul 27, 2017 7:09am Jul 27, 2017 7:09am
New video update!

About today's video...

-First trade at MaverickFX today! Trading $24k there.
-Started a new live $10k OANDA account as well.
-LMFX survives!
-This weeks profit?
-Use of a trading bridge at MaverickFX? What is it and why is it needed?

Inserted Video
  • #237
  • Jul 27, 2017 9:26am Jul 27, 2017 9:26am
Thanks a lot Ryan.

GBPCAD trades
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  • #238
  • Jul 27, 2017 11:27am Jul 27, 2017 11:27am
Quoting Cubbybgood
{quote} This is exactly how I trade manually! I watch price to see how it behaves at whole numbers and past major S/R points. If I see price slowing and giving me my setup in combination with ether of those 2 things mentioned, I know I have a golden technical setup. Will it work out every time? No, but when it comes to technical trading I don't think it gets any better. What usually causes my trades to go against me for a while is when fundamental and political news events happen to go against me. I can't control those and they happen when I'm in...
Cubby,
Typically the 50 Pip TP point will be obstructed by a half or whole number, S/R + Pivots too.
How should we tackle these obstructions when going for 50 pip target as mentioned previously?
  • #239
  • Jul 27, 2017 1:54pm Jul 27, 2017 1:54pm
Quoting faatkumo
{quote} Cubby, Typically the 50 Pip TP point will be obstructed by a half or whole number, S/R + Pivots too. How should we tackle these obstructions when going for 50 pip target as mentioned previously?
Good question. Whole/half and S/R are good filters but they shouldn't be the meat of a trading system. There's no guarantee price will pullback or reverse at these levels. They must be used in combination with something that's happening in real-time like my inside candle technique.

The reason I typically go for 45-65 pips is because I've tested my system with all sorts of TP options and a set amount of no more than 65 pips showed me the best and safest profit potential. I don't use trailing stops and I don't let profits ride even though my EA is capable of using something like this.

Letting your profits ride in my book is just not a smart methodology because it shows massive inconsistencies. The longer a trade is in the market the less likely it is to profit. Again, just my experience but I have done 1000s of hours of testing with my systems and 100+ EA's to figure out what has the best profit potential in the long-term.
  • #240
  • Jul 27, 2017 2:26pm Jul 27, 2017 2:26pm
Quoting Cubbybgood
{quote} Good question. Whole/half and S/R are good filters but they shouldn't be the meat of a trading system. There's no guarantee price will pullback or reverse at these levels. They must be used in combination with something that's happening in real-time like my inside candle technique. The reason I typically go for 45-65 pips is because I've tested my system with all sorts of TP options and a set amount of no more than 65 pips showed me the best and safest profit potential. I don't use trailing stops and I don't let profits ride even though...

Thanks for this, another breath of fresh air!
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