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Attachments: Trade with 60
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Trade with 60

Quoting Menle
Hi 60, first of all thank you for feeding me with your latest presentation on the H4 T/F. I'm always happy to find another bit that enhances this play. It is like a happy shot for me to see what you have for us. Simple is not easy especially when to pull the trigger, and hanging in there Learning more specifics that confirm a scenario of underpinning right conclusion in trading . Blessings to you
thankyou Menle...

finding a true edge is nearly impossible - there are just opportunities, once the mind accepts that it is much easier to live with the uncertainty of it all.
tradewith60
Hi 60, thank you for your honesty which is seldom found in this industry
looks like e/u was great on this method today.​
  • Post #344
  • Quote
  • Edited 10:33am Oct 20, 2015 10:11am | Edited 10:33am
Quoting 60minuteman
a video of h4 trades last week... https://www.youtube.com/watch?v=XcWRf4l9ya8
There are lots of edges 60, its just that most of those in the retail sphere aren't edges at all. But as you suggest rightly, not all edges will work consistently. A confluence of edges, that are not all price based (ie. NOT your bog standard stochastics, macd and other shitty indicators), need to be used alongside an understanding of what is happening in the markets - not just currencies but other markets alongside a country's fundamentals, as they are all interlinked. This creates a lot of things to think about which you rightly suggest, can lead to errors (until you have it mastered as with any discipline).

I don't agree with the price is random argument. There is always a reason why price is moving in whatever direction, some of the potential movement can be deciphered and figured out ahead of time, from analysing data and understanding other 'indicators'. Retail traders are at a pure disadvantage not knowing where to look or even how the market works. If they did, they would certainly know what to look for and capitalise on such knowledge. Even when it does not work out (like your use of hedge), you go with the flow of the market but perhaps with a reduced lot size given that some of your edges might not be supporting your bias.

Treating trading as a numbers game (probability) is a way out for retail traders not privy to 'institutional' information. But as you rightly point out, most fall into the trap of mixing the idea of certainty with probability, and struggle with the discipline that is required to achieve positive results. The only downfall with probability trading, apart from the psychological aspect, is not being able to maximise on your gains (i.e ramping up your risk to gain massively on certain market scenarios - as suggested in the Ted video you posted earlier), other than using the sound approach of holding onto your winners and cutting quickly your losses.
Quoting Porkpie
{quote} There are lots of edges 60, its just that most of those in the retail sphere aren't edges at all. But as you suggest rightly, not all edges will work consistently. A confluence of edges, that are not all price based (ie. NOT your bog standard stochastics, macd and other shitty indicators), need to be used alongside an understanding of what is happening in the markets - not just currencies but other markets alongside a country's fundamentals, as they are all interlinked. This creates a lot of things to think about which you rightly suggest,...
great post Porkpie... i'm a complete contrarian nowadays - it's the uncertainty and gambling aspect that makes trading enjoyable - woops I said the gambling word!!! forgot we're supposed to pretend its an intellectual thingy....

As for edges, you don't need them unless you cant handle uncertainty...
tradewith60
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tradewith60
another winning week - a very nice run.

All these trade entries and exit's are posted live in the trade room, some of us trading H4, some H1 and variations in between. No analysis or predicting the future, no high probability rubbish, just trading the highs and the lows and letting the odd's play out.

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tradewith60
wish I could reply to the 'can you predict price' thread - traders comparing the market to the laws of physics!!!... try repeating exactly the same trade over and over again and see if you get exactly the same result over and over again... no wonder people lose everything..
tradewith60
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tradewith60
Thank you 60 for the wonderful video!
Here's an example from a few weeks ago and I would like to know if the trades are shown right according to this method. I've picked a week with a very choppy PA to show that even in such adverse conditions this system pulls it. You have to have the stomach and the discipline to stick to the rules though cause at some point you'd have had 5 loser and almost 300 pips drawdown.
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I would like to ask 60
Have you tried playing the M range picking D tops/bottoms and how do you see it work out?
I see some advantages versus the H4 - you'd hold your trades longer, you'd spend less time in front of the computer, you wouldn't miss a entry because the signal was outside your trading session, you can trade more instruments because you won't take that many trades. The only drawback I see is the size of your SL.
Quoting ponchofx
Thank you 60 for the wonderful video! Here's an example from a few weeks ago and I would like to know if the trades are shown right according to this method. I've picked a week with a very choppy PA to show that even in such adverse conditions this system pulls it. You have to have the stomach and the discipline to stick to the rules though cause at some point you'd have had 5 loser and almost 300 pips drawdown. {image} I would like to ask 60 Have you tried playing the M range picking D tops/bottoms and how do you see it work out? I see some advantages...
Hi Poncho, thank's for the post... indeed all that is required trading is consistency and patience, most traders drop out after the 3 losses and never get there.

There is a trader in our group using daily - It works very well and can even be added to the h4 strategy without feeling overloaded.
tradewith60
Quoting 60minuteman
https://www.youtube.com/watch?v=qxiFO6KO2R0
Darren, a little confused on the exits.
Could you please explain again the two trades in one direction waiting for a reversal trade.
In your video you show what looks like a profitable exit, but didn't we get a reversal a lot earlier? See my red line.
I find when backtesting this occurs quite regularly and we don't get to see anything like the profits expected.
There is effectively no stacking as the reversal occurs very early in the week.
Thx Fred
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Quoting RedLineFred
{quote} Darren, a little confused on the exits. Could you please explain again the two trades in one direction waiting for a reversal trade. In your video you show what looks like a profitable exit, but didn't we get a reversal a lot earlier? See my red line. I find when backtesting this occurs quite regularly and we don't get to see anything like the profits expected. There is effectively no stacking as the reversal occurs very early in the week. Thx Fred {image}
here you go RLF... last night's video had some more examples

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tradewith60
Thank you for the detailed explanation!
Could you say how you manage the risk. I mean, do you risk certain amount of money per trade or just keep the same lot size? Obviously you take into account the possibility for X number of losses before the big win so you have to calculate how much you can risk, right?
Quoting ponchofx
Thank you for the detailed explanation! Could you say how you manage the risk. I mean, do you risk certain amount of money per trade or just keep the same lot size? Obviously you take into account the possibility for X number of losses before the big win so you have to calculate how much you can risk, right?
same lot size for every trade - the notion of variable lot size based on size of stop is totally ridiculous (unless you can prove they have the same win rate! - which you can't, a wide stop will always have a higher win rate than a small stop) - so you have to look at groups of trades and average performance then set your position size from that.
tradewith60
Hello 60

How has it been going on recently, you have not posted here for a long time, any updates?
Regards
Quoting howard
Hello 60 How has it been going on recently, you have not posted here for a long time, any updates?
Hi Howard, been travelling in Thailand...I have been trading the H4 whilst I have been away but will add H1 back after the holidays, have a good Christmas mate.
tradewith60
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tradewith60
Hi 6O,
It is great to see a post from again, hope you had a wonderful time in Thailand,
I want to thank you for the informative info you gave me during the year.

Blessed Christmas and a wonderful New Year to you and your loved ones.
Quoting Menle
Hi 6O, It is great to see a post from again, hope you had a wonderful time in Thailand, I want to thank you for the informative info you gave me during the year. Blessed Christmas and a wonderful New Year to you and your loved ones.
thank you Sir, have a great holiday and plenty of pips 2016!
tradewith60
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