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The Life & Times of suFreshFX (Based on a True Story)

  • #121
  • Jan 18, 2018 9:27am Jan 18, 2018 9:27am
don't try to be perfect. try to be better.
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  • #122
  • Jan 18, 2018 9:29am Jan 18, 2018 9:29am
Quoting suFreshFX
Will continue to trade with the 10k base until I reach a healthy profit to make a withdrawal.
.
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  • #123
  • Jan 19, 2018 1:47pm Jan 19, 2018 1:47pm
Water will always be my favorite drink. Make sure to stay hydrated while trading.

Stay thirsty my friends.

 

  1. Increases Energy & Relieves Fatigue...
  2. Promotes Weight Loss...
  3. Flushes Out Toxins...
  4. Improves Skin Complexion...
  5. Maintains Regularity...
  6. Boosts Immune System...
  7. Natural Headache Remedy...
  8. and more...

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  • #124
  • Jan 20, 2018 9:05pm Jan 20, 2018 9:05pm

Trade of the Week

January 14th, 2018 to January 19th, 2018


example.010(gbp.nzd)
the yellow brick road shows the overall area of interest (blue arrows)

example.011(gbp.nzd)
The green arrow reveals a buying opportunity

Notes: Stop loss placed 10 to 20 pips below the yellow brick road
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  • #125
  • Jan 20, 2018 9:23pm Jan 20, 2018 9:23pm
Have a love for chocolate? Love smashing things? Say no more.

Went to Uncle Julio's for dinner and a fun dessert to get my mind off trading.

CHOCOLATE PIŅATA
Filled with homemade chocolate empanada bites, mini churros, fresh fruit and berries. Served with raspberry, chocolate and caramel sauces and house-made whipped cream.
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  • #126
  • Jan 22, 2018 4:15am Jan 22, 2018 4:15am
Thanks for your thread. I am new here and lucky to find you. It's interesting to read as showing a bit of personality as well as skills which are real. It is very inspirational.
I have been trading for 2 years and tried a few different methods using different indicators/oscillators. Recently I have realized that the indicators obscure the real-time price movement as you said. Resistance/Support lines are the most important to me now. I am keen to brush up my skills and to trade properly like you do.
I have a few questions, if you don't mind to share your skills:
1) For Entry, do you use only Market Execution or Limit Order? or use both or other depending on the charts?
2) For Take Profit, do you aim the price to the next resistance level? If so, is it in the same time frame chart or higher chart?
I am not good at taking profit as I am executing too early when the price moves back.

Thanks again.
  • #127
  • Jan 22, 2018 1:02pm Jan 22, 2018 1:02pm
Quoting Tomi888
Thanks for your thread. I am new here and lucky to find you. It's interesting to read as showing a bit of personality as well as skills which are real. It is very inspirational. I have been trading for 2 years and tried a few different methods using different indicators/oscillators. Recently I have realized that the indicators obscure the real-time price movement as you said. Resistance/Support lines are the most important to me now. I am keen to brush up my skills and to trade properly like you do. I have a few questions, if you don't mind to share...

Quoting Tomi888
Thanks for your thread. I am new here and lucky to find you. It's interesting to read as showing a bit of personality as well as skills which are real. It is very inspirational.

Thank you brother for the kind words. I truly, truly appreciate it!

Quoting Tomi888
I have been trading for 2 years and tried a few different methods using different indicators/oscillators. Recently I have realized that the indicators obscure the real-time price movement as you said. Resistance/Support lines are the most important to me now. I am keen to brush up my skills and to trade properly like you do.

This is great news! I will tell you for certain there will be a lot of physiological interferences that you will face. There will be a lot of uncertainty and second guessing. This road is not easy. In fact, it was not meant to be easy. If it were everyone would be doing it. Once you are able to break thru and reap the rewards, only you will know what it truly took to get there.

I will answer your questions on the 2 separate posts so I can reference them for everyone
  • #128
  • Edited 1:57pm Jan 22, 2018 1:02pm | Edited 1:57pm
Quoting Tomi888
For Entry, do you use only Market Execution or Limit Order? or use both or other depending on the charts?

"Do you use Market Execution or Limit Orders when you trade?"

I only use Market Execution for 2 reasons:

1. I need to see how price reacts around the yellow brick road. Many times, price will go thru the yellow brick road and won’t stop. Other times price will go thru the support / resistance, but then retrace back and go accordingly to plan.

2. I need to be fully engaged in the charts when I am trading on a computer or mobile device. I will not walk away until the trades have closed or my positions are in profit and I feel comfortable in doing so.
  • #129
  • Edited 1:57pm Jan 22, 2018 1:03pm | Edited 1:57pm
Quoting Tomi888
For Take Profit, do you aim the price to the next resistance level? If so, is it in the same time frame chart or higher chart? I am not good at taking profit as I am executing too early when the price moves back. Thanks again.

"How do you determine when to Take Profit?"

When I start my trading week I have a starting balance. My goal is not to go below the starting balance.

On the first day I will aim for a profit or a small amount of pips. I do not have a set amount of pips I see how price reacts and normally will set a small target when I start. So I primarily will be looking at intraday trades and or scalping situations. Once I hit my target the next trades can have a little more risk or go for a larger target as long as my balance is protected. This is where I will look at higher timeframes.

There are many days when I have profit of over 3k, but price reverses quickly and I get out with only $500, leaving $2,500 on the table. Other days I will profit $1,000, but easily could have made over $5,000 if I let the trade run, leaving $4,000 on the table. Also, those days when you are in profit $2,000, but price suddenly reverses and you close out at -$500.

These examples are many and there will never be a perfect way to take profit as markets can be chaotic and unpredictable at times.

Always, always protect your original balance. If you go below your original balance, take safe trades until you recover. Take small profits when you start and then you can go for larger targets as long as your balance is protected.

Here is an example:

I started with 10k this week to start trading. takeprofit.A shows my profit after Day 1. takeprofit.B shows me taking risker trades on Day 1, and unfortunately they did not come to fruition, but my balance was well protected at all times.

It is easy to think about the money we leave on the table, but do not let this effect you're trading. Live to fight another day!

Hope this helps.
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  • #130
  • Jan 23, 2018 6:12pm Jan 23, 2018 6:12pm
Thanks for your posts, really appreciate it
  • #131
  • Jan 23, 2018 6:31pm Jan 23, 2018 6:31pm
Quoting suFreshFX
{quote} "How do you determine when to Take Profit?" When I start my trading week I have a starting balance. My goal is not to go below the starting balance. {image} {image}


I think this should be "the goal" for everyone who are after consistency not get rich quick route because most probably you'll blow up your account on the path to rags to riches. You need money to make money. And it is no exception with fx whatever your beliefs may have been maybe its time to reconsider everything. But I still think ROI on trading beats everything, still worth the effort if you are serious enough even if your starting capital is modest. I very much like the idea of increasing your risk "slightly" as you gain trade after trade and decreasing the risk when you hit a loss to preserve the initial capital each week. That means your DD will stay within the easily recoverable range given that you've got an edge.
...
  • #132
  • Edited 10:23am Jan 24, 2018 9:39am | Edited 10:23am
suFreshFX ,

Thanks for all the posts and replies on how you do this (very helps and motivates). It's actually simple as 1,2,3. However we as human beings tend to complicate things for ourselves and I think trading shows that aspect very well, also I found that it helps you to grow and self develop (don't think you can grow with out countless hours of digging in your mind about your decisions). I really like the logic behind your start of the week to preserve the capital, make seance not only in the perspective to preserving capital but also in the way market works, looking at the market I see it tends to be slow in Sundays and Mondays, closer to T,W,Thur it speeds up and give nice moves, fridays are left over if price didn't have time to finish something during the week. Couple more questions:

Do you trade news? Do you use Daily as main time frame for outlook and than drop to lower once (to me from thread looks like you like 4 hour and 15 min)?
Are you full time trader now? I guess it took around 5-10 years to become one, why I'm asking as I need to grow in corporate job as well, however ultimate goal to have some businesses and trade full time. The though in my head is just keep moving in any direction I have started, find the time for everything (even if it's waking up @ 4 am to practice the markets on replays, I think it's the easiest time to become market expert as we have tools for that, 10 years ago was hard to find market replay tool) and eventually things will come out the way they should.


Thanks one more time for you thread. Looks like clean charts and pure price action is way to go =)
  • #133
  • Jan 25, 2018 10:25am Jan 25, 2018 10:25am
After studying your trades it looks like you don't hold the trade for a long time, you look for that perfect set up and than execute, staying in the trade as long as your rules of TP are met, and than out as soon as price gives you a signal of possible reversal. It looks like the trades don't take more than 4-5 hours, usually it's even less than that.
  • #134
  • Edited Jan 26, 2018 9:15am Jan 25, 2018 5:29pm | Edited Jan 26, 2018 9:15am
Hi everyone,

I just wanted to say I see the posts, but will reply back to everyone when I get back from South California early next month. I would like to take my time to reply instead of rushing. Have a safe trading week!

suFreshFX
  • #135
  • Feb 6, 2018 12:39pm Feb 6, 2018 12:39pm
Quoting jrtrading
Thanks for your posts, really appreciate it
You’re welcome brother, my pleasure.
  • #136
  • Feb 6, 2018 12:40pm Feb 6, 2018 12:40pm
Quoting Piquant
{quote} I think this should be "the goal" for everyone who are after consistency not get rich quick route because most probably you'll blow up your account on the path to rags to riches. You need money to make money. And it is no exception with fx whatever your beliefs may have been maybe its time to reconsider everything. But I still think ROI on trading beats everything, still worth the effort if you are serious enough even if your starting capital is modest. I very much like the idea of increasing your risk "slightly" as you...
Great Post Piquant, thank you for sharing.

The first goal for a trader has nothing to do with money and everything to do with being consistent. If you look at the question:

Do you have any tips for trading?

I reveal that the first goal is to learn how to trade properly. This first goal can take months to years before its developed enough to use in a real account situation.

I agree one should separate him or herself from a road full of profits, instead the trader should focus on overall consistency.
  • #137
  • Edited 3:08pm Feb 6, 2018 12:53pm | Edited 3:08pm
Quoting taksistalo
suFreshFX , Thanks for all the posts and replies on how you do this (very helps and motivates). It's actually simple as 1,2,3. However we as human beings tend to complicate things for ourselves and I think trading shows that aspect very well, also I found that it helps you to grow and self develop (don't think you can grow with out countless hours of digging in your mind about your decisions). I really like the logic behind your start of the week to preserve the capital, make seance not only in...
Anytime brother, I am glad it helps and is motivating as this is why I started the thread.

Quoting taksistalo
It's actually simple as 1,2,3. However we as human beings tend to complicate things for ourselves and I think trading shows that aspect very well, also I found that it helps you to grow and self develop (don't think you can grow with out countless hours of digging in your mind about your decisions).

A substantial portion of trading is how you are doing physiologically. This is a very big topic, and in fact one of the reasons why you will find traders failing at a successful trading method. When issues arise the point of trading is not to find the solution within trading. You should always be aware of how you are doing physiologically as this will be reflected in your trading. I can tell you on days when I feel physiologically good, I know those results will show in trading even before I look at the charts. Why? Well one of the reasons is that when I will examine the charts I know I am looking for trades that have little risk. If I do not see any, I will not take any trades to prove anything. Maybe I can show this somehow in the near future...

Quoting taksistalo
looking at the market I see it tends to be slow in Sundays and Mondays, closer to T,W,Thur it speeds up and give nice moves, fridays are left over if price didn't have time to finish something during the week.

These trends that you notice should be written in your trading journal. You will notice a lot of different patterns. Patterns will not always work, but you should know these even at a subconscious level when you are trading.

Quoting taksistalo
Do you trade news?

Take a look at this post for more details:
Do you trade the news? Do you trade high impact news events or releases?

Quoting taksistalo
Do you use Daily as main time frame for outlook and than drop to lower once (to me from thread looks like you like 4 hour and 15 min)?

At the start of the trading week and every day I scan all charts, typically starting at the weekly chart and go down to the 5 minute chart. Next I place my yellow brick roads on the charts where I see a trading opportunity. After that I take the trade where I feel the risk is the least from all the opportunities, typically the lower time frames if possible. The yellow brick road will typically carry over to larger time frames. I do not favor one time frame over another.

Take a look at this post for more details:
What time frames do you trade?

Will answer your next question on a separate post so I can reference it. Thank you.
  • #138
  • Edited 1:17pm Feb 6, 2018 12:58pm | Edited 1:17pm
"Are you full time trader?"

No, I am not a full-time trader currently. I want to make this very clear. I trade as if I was a full-time trader, but in fact have other sources of income. I think many people would feel ashamed to say that they have traded for such a long time and still not be a full-time trader. This is the opposite for me. In fact, I am very proud of it. At the end of it all what you will see in this thread is me transitioning to a full-time trader. This could be few months to years.

Currently I am grinding like many traders here building my account size and periodically taking some healthy profits.

Everything you see here is being funded by trading and no other source of income.
  • #139
  • Edited 3:10pm Feb 6, 2018 1:01pm | Edited 3:10pm
Quoting taksistalo
After studying your trades it looks like you don't hold the trade for a long time, you look for that perfect set up and than execute, staying in the trade as long as your rules of TP are met, and than out as soon as price gives you a signal of possible reversal. It looks like the trades don't take more than 4-5 hours, usually it's even less than that.
You need to understand there are two types of traders when entering a trade.

One is the set of traders that enter a trade because they see an opportunity to make a lot of money. What they vision is how much money they can make when they enter the trade.

Second is the set of traders that enter a trade because they see an opportunity where there is a reduced amount of risk. What they vision is that the trading opportunity outweighs the risk and it’s acceptable to enter a trade.

The second set of traders has nothing to do with money and everything to do with risk and it is where you will see more successful traders.

I prefer to go shorter periods because there is less risk and I do not have to monitor the trades consistently. I do trade longer durations, but not as frequent, only when I see a trading opportunity.

Take a look at this post for more details:
How often do you trade?
  • #140
  • Edited 5:28pm Feb 6, 2018 3:37pm | Edited 5:28pm
every journey starts with one step...

Southern California
(Hotel - Andaz Hotel by Hyatt)

Trip A.1 – you will seek me and find me when you seek me with all your heart (Jeremiah 29:13)
Trip A.2 – never limit yourself, reach for the stars
Trip A.3 – rented car for the trip
Trip A.4 – santa monica pier
Trip A.5 - venice beach
Trip A.6 – everything goes better with some wine
Trip A.7 – my trading office in the hotel room
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