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May's Trend System (indicatorless trading)

  • #21
  • Jun 22, 2017 6:35pm Jun 22, 2017 6:35pm
Quoting luisca826
Hello Mayzee Than you for the PD, it is really interesting. I am kind of new in forex but i do like it. i have some questions to ask if you dont mind to give me and answer. I am kind of confused about how to identify or determinate the trend in the charts, so here is an example for the pair EUR/USD i identified the bearish trend in the monthly timeframe and also identified the bearish trend in the daily timeframe by the blue trendline. i am not sure if this is the correct way to determinate the trend in the chart so i want you to tell me if i am...
If you're going to use an example then use something good. EURUSD isn't really in a trend. It's effectively sideways right now.
  • #22
  • Jun 22, 2017 6:36pm Jun 22, 2017 6:36pm
Quoting savanhws
{quote} Can you resend your email, I haven't received it Thanks
Shoot me a message with your email and I'll make sure you're in my system. Also check to make sure I'm not in your spam folder for some reason as well.
  • #23
  • Jun 22, 2017 9:51pm Jun 22, 2017 9:51pm
Quoting mayzee
{quote} Shoot me a message with your email and I'll make sure you're in my system. Also check to make sure I'm not in your spam folder for some reason as well.

Interesting thread

could you please give a chart example of a monthly trending chart of any currency pair, and also a daily chart showing how you would enter the trade.
and show a 1H if that is the TF you are entering the trade on.

Thanks in advance
Live today like theres no tomorrow-- Prioritize like you will die today
  • #24
  • Jun 22, 2017 10:13pm Jun 22, 2017 10:13pm
I agree, could you please give a chart example of a monthly trending down chart of any currency pair, and also a daily chart showing how you would enter the trade, a sell trade.

Thank you in advance,
Darryl
  • #25
  • Jun 22, 2017 10:20pm Jun 22, 2017 10:20pm
Hey just wondering... Can this also be used with a 5min and 1min chart?
Haha just kidding. Good simple concept imo
Take care
  • #26
  • Jun 22, 2017 10:22pm Jun 22, 2017 10:22pm
Quoting iamsovereign
could you please give a chart example...
Quoting Darryl
could you please give a chart example
Darryl and Sovereign,

I've already given a list of trending pairs, going to be watching the daily time frame now to show people how these trades unfold in the live market.

I think that's better than showing some old charts where hindsight is 20/20 ... even showing my actual successful trades I don't think really helps.

Instead I think it's better to watch a trade unfold in the live market.
  • #27
  • Jun 22, 2017 10:48pm Jun 22, 2017 10:48pm
This type of system is good if you have plenty of capital or simply don't have the time to be an active trader. If you have a small account then this is going to be difficult and a very long process to become profitable for you. And using 6% of your account, just a few losing trades in a row which is extremely common is going to mess with your mind, you'll want to make that money back pronto which will then most likely if your not a well seasoned trader make you trade stupidly to recover the lost capital which will quickly lead to blowing up your account.

Professional traders like myself typically only ever risk 1% per trade, I usually risk around 0.7% per trade sometimes I will use the full 1% depending on the setup and instrument in which I'm looking to trade.

There is not a single professional trader in the world relying on 1 or 2 trades a year to make their yearly salary. If you have alot of money aside then you can do this and call yourself a trader but don't expect to become a succesful trader using a system like this unless you have alot of investment capital. Note to yourself this is a system that investment banks, prop firms, equity funds and so on are using because they have the equity to rake in the huge profits. This is not a good system for retail traders.

I hope my bias isn't coming across negative, this is my opinion of this system.

And if you are a trader and losing money in the markets then you need to stop trading live. Create a trading plan with proper risk and money management rules and stick to it like glue. Practise on a demo account or use really small positions to discipline yourself to become a successful trader.

If you want something bad enough, you will do whatever it takes to make it happen.
  • #28
  • Jun 23, 2017 12:28am Jun 23, 2017 12:28am
Definitely a viable way to trade and make some serious money.... if you have a serious bank roll.

For examples sake, let's say you have entered a position with an initial stop of 200 pips for wiggle room. Your account is $5,000 (even that's a lot to start with for the average trader, I dare say the average is $1,000).

As per your rules, 5% of your account is $250 risk.
$250 / 200 pip stop = Trading $1.25 per pip

500 pip profit over 2-3 months = $625.

This is most definitely not enough to live off, albeit may supplement your regular income. Some would be happy with that, it is after all awesome returns percentage wise. But if you're going to place such long term trades to live off, am I correct in saying you would need an account of $50,000+ to be viable with your risk rules? Please, correct me if I am wrong, just very vaguely crunching numbers.

Thanks
  • #29
  • Jun 23, 2017 2:45am Jun 23, 2017 2:45am
i work with elliott's wave and fibonacci so that i can know how the price is doing in every time, i used time frames as weekly, monthly , at the same way as you say
  • #30
  • Jun 23, 2017 4:24am Jun 23, 2017 4:24am
Thanks mayzee
Are you looking to a line monthly chart or candle? Does it matter?
  • #31
  • Jun 23, 2017 4:34am Jun 23, 2017 4:34am
[quote=pierre23;10010401]Definitely a viable way to trade and make some serious money.... if you have a serious bank roll. For examples sake, let's say you have entered a position with an initial stop of 200 pips for wiggle room. Your account is $5,000 (even that's a lot to start with for the average trader, I dare say the average is $1,000).

If we have only 5000 in acc, is it possible at all to open a 0.005 lot position ? We can only open a position with max 1% of the account. 5000x0.01=50 = 0.005 lot

Am I right?
  • #32
  • Jun 23, 2017 4:54am Jun 23, 2017 4:54am
thanks for sharing your system! would love to revieve your previous newsletter as well.
  • #33
  • Jun 23, 2017 5:50am Jun 23, 2017 5:50am
[quote=Tiivaa;10011316]
Quoting pierre23
Definitely a viable way to trade and make some serious money.... if you have a serious bank roll. For examples sake, let's say you have entered a position with an initial stop of 200 pips for wiggle room. Your account is $5,000 (even that's a lot to start with for the average trader, I dare say the average is $1,000). If we have only 5000 in acc, is it possible at all to open a 0.005 lot position ? We can only open a position with max 1% of the account. 5000x0.01=50 = 0.005 lot Am I right?
I believe she's talking about position sizing not to be larger than 1% of your account total (which would be $50/pip at 1% of $5,000 - which is just plain silly as that is over leveraging), but not to risk more than 5%.

In regard to this that the OP says, doesn't make sense to me. You determine your risk prior to opening any trades so you know exactly how many lots to trade. Ie. Before entering your trade you work out our stop loss, say 200pips. Then from there you can work out your risk. $250 (5% of account) / 200pips = $1.25 per pip (or ~0.12 lots on a standard account - it will vary from currency pair as they are worth different amounts)

That is how I interpreted the .pdf document... could be wrong though.. that section isn't very well explained in the doc imo.

Point still stands however, you need a considerable account to begin with to make a return you can live off
  • #34
  • Jun 23, 2017 7:31am Jun 23, 2017 7:31am
Quoting pierre23
This is most definitely not enough to live off
Two things about this. First, you're going to be placing more trades than just one every two or three months which means closing more than one trade every two or three months as well.

Secondly, anyone that thinks they're going to be able to make a full time living off an account size of just 5 grand is absolutely delusional. There is no system that can ACTUALLY and IN REALITY give consistent month over month returns large enough to live off of at only 5k in your account. If you have an account of 5k then you're going to be focusing on building your account up to a size where you can trade profitably enough to live off of it ... you are not living off the profits of a 5k account and I don't care what sort of system you're using to trade. There might be people out there lying and claiming that their system could allow you to live off a 5k account, but it's just that, a lie.

Can we try being a little bit realistic? Full time professional traders that make their livings trading are doing it with accounts "just a little bit" bigger than 5 grand.
  • #35
  • Jun 23, 2017 7:33am Jun 23, 2017 7:33am
Quoting kofix11
Thanks mayzee Are you looking to a line monthly chart or candle? Does it matter?
Candles work better because you need to be able to see the range to draw accurate S/R lines for your take profit points.
  • #36
  • Jun 23, 2017 8:07am Jun 23, 2017 8:07am
Wow! There are enough naysayers on here to make me want to vomit. We must all have opinions on how to conduct ourselves. However, bashing others is in no way going to enhance you, or anyone else. (I hope politicians are listening)

Mayzee, I am enjoying your thoughts on trading. I can see that no matter what anyone decides to do with their trading style, there may be a very good resource, for some, in this thread.

Thanks,
Darryl
  • #37
  • Jun 23, 2017 8:17am Jun 23, 2017 8:17am
Quoting diamonddbw
Wow! There are enough naysayers on here to make me want to vomit. We must all have opinions on how to conduct ourselves. However, bashing others is in no way going to enhance you, or anyone else. (I hope politicians are listening) Mayzee, I am enjoying your thoughts on trading. I can see that no matter what anyone decides to do with their trading style, there may be a very good resource, for some, in this thread. Thanks, Darryl
There's always naysayers. That falls under the "whatever" category for me ... lol

Thank you for your thoughts.
  • #38
  • Jun 23, 2017 10:08am Jun 23, 2017 10:08am
In your PDF you said, the only way of trading that has any hope of being consistently profitable is the trend being your friend.
But for this case below (DAX 30), would you even consider going short for a retracement? Because it's at its "extreme high" but knowing it's counter-trending.
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  • #39
  • Jun 23, 2017 10:26am Jun 23, 2017 10:26am
Quoting savanhws
In your PDF you said, the only way of trading that has any hope of being consistently profitable is the trend being your friend. But for this case below (DAX 30), would you even consider going short for a retracement? Because it's at its "extreme high" but knowing it's counter-trending.
I absolutely never trade counter to a trend, so no I wouldn't consider trying to find a retracement to trade.

Secondly, looking at that chart, I'd want to see some VERY serious consolidation before I entered. I doubt even seeing a consolidation on the daily would be enough. I'd probably want to see an actual monthly consolidation the way the middle of the chart shows.

Hope this helps.
  • #40
  • Jun 23, 2017 10:35am Jun 23, 2017 10:35am
Quoting mayzee
{quote} I absolutely never trade counter to a trend, so no I wouldn't consider trying to find a retracement to trade. Secondly, looking at that chart, I'd want to see some VERY serious consolidation before I entered. I doubt even seeing a consolidation on the daily would be enough. I'd probably want to see an actual monthly consolidation the way the middle of the chart shows. Hope this helps.
Yes it does May
Thanks, btw you're awesomeee
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