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The right thinking of the profitable trading in 3 simple steps.

  • Post #1
  • Quote
  • First Post: Aug 25, 2007 8:42am Aug 25, 2007 8:42am
Dear All,

The right thinking of the profitable tradig is :

1- Determine the big trend.
2- The trend is your friend till it bent - means that if you are in sell trend, you never do a buy trade and vice versa.
3- Sell high Buy low with the trend direction only.

Do you think the above steps is enough for successful trading with all market conditions ? ? ?

If yes, what do you think of the best way to do the step number 1 & 3 ? ?

Regards,
Peter Hanna
Quoting peter7anna
Dear All,

The right thinking of the profitable tradig is :

1- Determine the big trend.
2- The trend is your friend till it bent - means that if you are in sell trend, you never do a buy trade and vice versa.
3- Sell high Buy low with the trend direction only.

Do you think the above steps is enough for successful trading with all market conditions ? ? ?

If yes, what do you think of the best way to do the step number 1 & 3 ? ?

Regards,
Peter Hanna
Until I forgot to maintain hard stops
PeterFM, sure there will be stop loss and limit with the system will follow this concept.

but i wanna sure that the concept is right.
Quoting peter7anna
PeterFM, sure there will be stop loss and limit with the system will follow this concept.

but i wanna sure that the concept is right.
But as others will point out you need to decide on your timeframe.
I take my trend from the daily chart, primarily, and then look for pull backs. I then switch to 4hr and 1hr charts to look for possible entries.
I have no strategy for counter-trend trades and, so far, haven't missed out. But I'm past the point of wishing I'd traded this or that market move. So I'm with you on this, as far as I'm concerned it's the only thing that has made me build my account.
Quoting PeterFM
But as others will point out you need to decide on your timeframe.
I take my trend from the daily chart, primarily, and then look for pull backs. I then switch to 4hr and 1hr charts to look for possible entries.
I have no strategy for counter-trend trades and, so far, haven't missed out. But I'm past the point of wishing I'd traded this or that market move. So I'm with you on this, as far as I'm concerned it's the only thing that has made me build my account.
Thanks a lot Peter for your reply and your advise, I see that you agree with me with the concept and I will do my best to follow great system with this concept.
Quoting peter7anna
Dear All,

The right thinking of the profitable tradig is :

1- Determine the big trend.
2- The trend is your friend till it bent - means that if you are in sell trend, you never do a buy trade and vice versa.
3- Sell high Buy low with the trend direction only.

Do you think the above steps is enough for successful trading with all market conditions ? ? ?

If yes, what do you think of the best way to do the step number 1 & 3 ? ?

Regards,
Peter Hanna
with all of my respect to you peter.....
my experience said that : "it's easy to say... but very hard to practice"

regards,
"Live is for living not for working"
Quoting peter7anna
2- The trend is your friend till it bent - means that if you are in sell trend, you never do a buy trade and vice versa.
3- Sell high Buy low with the trend direction only.
Isn't "buy low and sell high" the exact opposite of "go with the trend"?.

Buy low and sell high = pick tops and bottoms

Go with the trend = don't try to catch the action from the very beginning (i.e. don't pick tops and bottoms). Wait till you can clearly see that a trend is taking place.

I think both ideas are valid and can be used to create a trading plan/strategy, but I don't think both ideas can be used at the same time.
If you go with the trend (lets say that the price is going up), it means that you can see that an uptrend started at some point in the past. So you go with the trend and jump in, but you are not buying low anymore, buying low was when the trend started and not now that we are in the middle of the action.

That's the way I see it, but maybe I'm totally wrong.
"I say high, You say low, You say why, and I say I don't know..."
My opinion:

Quoting peter7anna
1- Determine the big trend.
2- The trend is your friend till it bent - means that if you are in sell trend, you never do a buy trade and vice versa.
3- Determine the levels of support/resistance within that trend.
4- Wait for retracements to those levels and verify whether they hold such retracement.
5- If they do and thus price bounces off them and resumes its motion in the direction of the trend, hop onboard. If they dont, remain in the sidelines.

That's basically my overall trading methodology. Now it's your job as a trader to find the appropiate tools to bring those basic principles into actual trading.
tell me how you filter the tops? Then, I will say your successful.
Quoting 4XWeezal
tell me how you filter the tops? Then, I will say your successful.
Filter the tops? please re-phrase, I dont understand.
I think the two thoughts are legitimate and can be utilized to make a trading design/methodology, yet I don't figure the two thoughts can be utilized in the meantime. In the event that you run with the pattern lets say that the cost is going up, it implies that you can see that an uptrend began sooner or later before. So you run with the pattern and hop in, however you are not purchasing low any longer, purchasing low was the point at which the pattern began and not currently that we are amidst the activity.
Quoting peter7anna
Dear All, The right thinking of the profitable tradig is : 1- Determine the big trend. 2- The trend is your friend till it bent - means that if you are in sell trend, you never do a buy trade and vice versa. 3- Sell high Buy low with the trend direction only. Do you think the above steps is enough for successful trading with all market conditions ? ? ? If yes, what do you think of the best way to do the step number 1 & 3 ? ? Regards, Peter Hanna
Following the market trend is a good strategy, but we have to learn details about the trend and reversal patterns! It’s not easy, there have so many confusing patterns of the market! I think, to identify the market trend, traders need to have enough technical and fundamental trading skill.
The right thinking of profitable trading is: MONEY MANAGEMENT

Trend is not your friend. It is just something you cannot go against. You just want that powerful guy to be your friend. But we still take counter trend positions.

Sell high- Buy low? Really? So we all know where it can go highest and lowest? If this market was so predictable we would all win evwey trade.

We all know it is a game of probabilities and we all have areas of high probability taking a shot and wait. Some trades on M1 and M5 charts some says there is too much noise in lower time frames. Some says price driven by news and fundamentals and others says technical trading shows the emotions of traders.

It is too much thinking which one is better. Just follow the one that suits you most. But no matter what you do your system will fail you one or more trades and you dont know which one. Then you see the right thinking of a profitable trading is only MONEY MANAGENT
If people just buy when it’s rising and sell when it’s falling would make money instead trying buy low and sell high. Picking tops and bottoms is he most dumb trade you can have, going counter the flow is exactly what it means you can not stop the flow, so if you just go with the flow you will make money everyday. Why? Because the ones who create the flow will defend its positions with more and more money because they have it.

Think about you fighting alone to a entire army. Do not do that. Try for 1 week buying if price is raising and selling if price is dropping and post again.


Be wise.
Know yourself before fight with the market.
  • Post #15
  • Quote
  • Last Post: Nov 28, 2017 4:45pm Nov 28, 2017 4:45pm
When price is rising and you buy its almost profit guarantee, you can see in in your PnL instantly, think about that. Do your own experiment.

Also so most traders think that only will make money if take the hole range, you don’t need the whole range to make money, you have Size but most people only think in ranges instead of sizes, and sizes matter even more than the range.
Know yourself before fight with the market.
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