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5 years and still no strategy

  • #2,401
  • Jun 29, 2017 9:52am Jun 29, 2017 9:52am
Quoting HLAng
{quote} bro, i did not ask money from you or anyone of here yet? :-)
bro, you want share a strategy you win 30 % each month, and so have no money more left filled, because no volume in some month when many would trade so. thats not smart or scam, both also possible. at least not trustfull and shows you are extrem new in trading and dont know basics in the market.

so not easy to decide, very extrem, stupid or big scam? you decide. both would be bad, and nobody would trust you.
  • #2,402
  • Jun 29, 2017 10:26am Jun 29, 2017 10:26am
Why doesn't anyone post a chart, and ask for feedback or talk about a real situation? How's anyone going to learn anything with "mine is bigger than yours"?
  • #2,403
  • Jun 29, 2017 10:36am Jun 29, 2017 10:36am
Quoting freakout
one and a half month ago I opened a Tickmill welcome account with free $30 to check my trading skills and I think that they are not bad, but I'm still trading without any plan - I just trade what I see... when I see a bearish or bullish price pattern I just trade it and close my profit quickly if I see that there is a risk of reversal... nothing else fits me - I've tried to trade pivot points, but these lines are very distracting to me and are not accurate... is there any sense in changing anything here? {image} {image}

The simplier your strategy the more effective it is. Sometimes we complicate unnecessary things to get the same results. Just pay attention to risk controls, its where majority of traders fail
  • #2,404
  • Jun 29, 2017 12:11pm Jun 29, 2017 12:11pm
Quoting available
{quote} The simplier your strategy the more effective it is. Sometimes we complicate unnecessary things to get the same results. Just pay attention to risk controls, its where majority of traders fail
I would say in trading an important factor is discipline. Just determine what type or types of trader you would like to be and then go on from there. Stick to the plan. Manage your risk. Don't let the stress take over and never go for more than 10% of your trading capital. And if you don't like my suggested rules, that's fine. Stick to your own ones. It's just the matter of discipline.
  • #2,405
  • Jun 30, 2017 8:53am Jun 30, 2017 8:53am
Best thread ever ;-)
Attached Image (click to enlarge)
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Ecclesiastes 1:9
  • #2,406
  • Edited 3:26am Jul 15, 2017 3:16am | Edited 3:26am
Quoting freakout
So... I have 5 years of experience
its not years of experience that count. what is your hours of experience?
Life Is Good
  • #2,407
  • Jul 15, 2017 3:31am Jul 15, 2017 3:31am
Have you ever considered to use break out strategy?
maybe you should ... from being freaked out to a breakout pro is cool
Life Is Good
  • #2,408
  • Edited 2:14pm Jul 15, 2017 3:42am | Edited 2:14pm
1-but I still don't have a strategy
Pick 1 setup that is easiest for you.

5-my problem is that I don't know what to trade 6- all trends are very clean (see chart below)

Find a super trending pair , what is a super trend? a super trend happens when D1,W1 and Mo Candle all goin same direction.
That is the best definition of a super trend

7-I tried everything... I don't know what's the problem

Dont try everything , find 1 setp that is easiest to you , define specific rules to that setup , mm and drawdown rules.Master the setup

14-I won't give up on 1:2 ratio - it saves your ass during a series of losses

Theres nothing wrong or right in forex ... even a 5 pip TP with SL 50 pip is okay for a pro scalper but if you are a trend trader then you are right 1:2 should be your minimun RR
Life Is Good
  • #2,409
  • Jul 15, 2017 6:22am Jul 15, 2017 6:22am
4hr and d1
Disregard news
Don't use oscillators
For entries, first decide whether you are a buyer or a seller, then apply

1 + 3/4

Which means

1 = must always be present whatever is used, if it isn't, its either no trade or end of trade
3/4 = 3 out of 4 other factors must be supporting 1, no more than that otherwise information overload

Take all positions that fulfil that criteria and you won't go far wrong, or confused what to do

It doesn't matter at all what is used when applying these simple entry rules, make your own and follow your own rules, everyone is different. The key is trusting "1" first and foremost, then the 3/4 follows so long as you stick to your rules.
  • #2,410
  • Jul 15, 2017 7:24am Jul 15, 2017 7:24am
Observation is key to trading -- look at all the major pairs. Are they trade-able?? while in equity you can pick an choose your charts/trends . One reason the big guys( hedge funds) are into equity not in Forex.
  • #2,411
  • Jul 16, 2017 4:55am Jul 16, 2017 4:55am
Quoting Landline
4hr and d1 Disregard news Don't use oscillators For entries, first decide whether you are a buyer or a seller, then apply 1 + 3/4 Which means 1 = must always be present whatever is used, if it isn't, its either no trade or end of trade 3/4 = 3 out of 4 other factors must be supporting 1, no more than that otherwise information overload Take all positions that fulfil that criteria and you won't go far wrong, or confused what to do It doesn't matter at all what is used when applying these simple entry rules, make your own and follow your own rules,...
In my case, GJ is nearly 1 and 3/4 for a sell via the daily chart. In fact I don't quite have "1" ready yet, but 3/4 is. Later tomorrow I will know whether it's game on, or a re-set.

The point being that my rules for any strategy I use are totally un-ambiguous and eliminates any doubt. Everyone is different and hence process their information differently. What I see as a potential sell setting up for instance will obviously be seen by others as a buy setting up.

That is why it isn't possible to lay down my rules, because my brain will not be wired the same way as the next person, and is the reason why everyone must create their own rules to suit their own unique brain.

Some won't get that, some will, and the majority need leading it seems like sheep. We have all seen the millions of threads where differences of opinion occur. Apply your own rules, don't be led by others, there's far too much hogwash nonsense in these forums, and only a tiny scrap of sense is ever made.

It's a lot easier imo to ignore everyone and do your own thing, your trade does not have to align with someone elses'. They can be wrong (and usually are), just trust yourself.
  • #2,412
  • Jul 16, 2017 8:56am Jul 16, 2017 8:56am
I was watching for years FF Trade Explorers. Many of traders are scalpers with account less than 5 000$ and mainly trade with high risk. They get big loss in first trades or trade till came Brexit, USA president Trump or smth. After forex reaction on that, many traders who trade on price swing (opening new and new one way trades till price go back and get profit) lost huge amount of money. That is sad when trader loss all profit what he get in last year, two...

I tried many strategies and know one - best trading is when trade last above one day or less, with optimal profit/loss, known target (entry and SL/TP price) and written strategy (5-10 points). I found forex after crisis in 2008 and till optimal strategy lost much time and money. But I know that I will get back it and more. Many traders using too complicated strategies when all platforms have simple instruments who give results and maybe are used from forex beginning.

When trade, need to forget all loses, all stupid strategies what was found in internet or given in local broker courses. Best was is to trade with friend or partner - watch each other. That helps to be patient and responsible! I sold my strategy to few local full time traders and I like result what I see. Just need patience, be a full time trader or get access to forex platform and above 10 000$ account. They got back their invested money after month, someone two, but I am more closely to my optimal capital to earn only with forex. So everyone have chance to get back all lost money.
  • #2,413
  • Edited 11:52pm Jul 16, 2017 2:43pm | Edited 11:52pm
Quoting MindTime
I was watching for years FF Trade Explorers. Many of traders are scalpers with account less than 5 000$ and mainly trade with high risk. They get big loss in first trades or trade till came Brexit, USA president Trump or smth. After forex reaction on that, many traders who trade on price swing (opening new and new one way trades till price go back and get profit) lost huge amount of money. That is sad when trader loss all profit what he get in last year, two... I tried many strategies and know one - best trading is when trade last above one day...
maybe its correct , maybe wrong, many tell this storys like you day in day out. most are not trustfull, 0,00001 % are, so my words for this.
fulltime traders who buy a strategy from someone with losses only before ? sounds not the smartest traders.
  • #2,414
  • Jul 16, 2017 10:05pm Jul 16, 2017 10:05pm
Quoting freakout
So... I have 5 years of experience, I know price action, I know how to trade with trend, I know how to manage risk, etc., but I still don't have a strategy. Is this normal or it's a waste of time? I'm not looking for a holy grail, but for something really simple with 50% accuracy at 1:2 ratio. 3-5 trades per day during EU session and that's all. I tried to trade H1-H4 pullbacks, pivots, breakouts and many other strategies but without any success... Should I continue my searches or it's time to leave it?
Hey guys I have this amazing concept and logic about forex and the daily charts and this thread seems to be ideal to start my ideas especially for freakout. Who's interested?
  • #2,415
  • Jul 17, 2017 2:01am Jul 17, 2017 2:01am
Quoting dukas_trader
{quote} maybe its correct , maybe wrong, many tell this storys like you day in day out. most are not trustfull, 0,00001 % are, so my words for this. fulltime traders who buy a strategy from someone with losses only before ? sounds not the smartest traders.
Not always I traded with loses. One period I traded 5M/15M charts and get out 50-100% profit, but that was with small deposit, high risk and trade 24/5 (I used sound notifications all time). That was too hard, because I had to be home all time (at that time wasn't so good mobile app) and only with that money was impossible to live. What mean high risk? Three loses and month work is 0.

Next was while I was working. 1D/4H charts. Used orders, but in my strategy I had to close them manually or move SL to 0, but that wasn't possible, so some trades made losses and at home I just started again risking - traded on news, not using MM and etc..

Last year at holidays I made from ~200EUR more than 2000EUR. Maybe this year I got my 10 000EUR, but... then was USA elections, which dis balanced market technical traditions and got loses trading 1D graph, so now I trade only 4H chart. I don't care news or something, because technical in most time is over fundamental (in my time frame - 4H, not 1D or 1W).

So I showed that to two traders, they paid money and after that I gave them my strategy rules, answered on all questions - now they earn money and not stressing and have more free time. They just wondering how simple that was, because most is offering complicated systems with additional EA, scripts etc. Ok, they had more than 10 000EUR deposit, so they earned back invested money after one or two weeks. If you have 1 000EUR deposit, you will not give half on strategy, but better search it in internet for years. Like I was doing, but made my own.
  • #2,416
  • Jul 17, 2017 6:44am Jul 17, 2017 6:44am
Quoting MindTime
{quote} Not always I traded with loses. One period I traded 5M/15M charts and get out 50-100% profit, but that was with small deposit, high risk and trade 24/5 (I used sound notifications all time). That was too hard, because I had to be home all time (at that time wasn't so good mobile app) and only with that money was impossible to live. What mean high risk? Three loses and month work is 0. Next was while I was working. 1D/4H charts. Used orders, but in my strategy I had to close them manually or move SL to 0, but that wasn't possible, so some...
why you dont go to commercial section, and offer this, show your account and your myfxbook, and people will buy it , when you dont use martingale or other styles or trading with no stoploss. if it looks bad, then they dont will buy, so easy.
  • #2,417
  • Jul 17, 2017 6:53am Jul 17, 2017 6:53am
They have a high education. You believe that they will listen to guy who is trading profitable only few months? I believe that they have own rules, maybe no SL and so. There is huge difference between trading thousands or millions.
  • #2,418
  • Jul 17, 2017 7:10am Jul 17, 2017 7:10am
Many ways to skin a cat. Here is how I do it. I trade news. BUT I only trade unexpected news. Example. 2 weeks ago, gbp had 5high impact news events at the same time. All 5 were expected to beat expectations....

all 5 missed expectations! That was very unexpected and I took 50 easy pips..

one more example. Last month cad jobs were expected at 11,000... it came in at 53,000!!!!! Way better than expected. Took 50 on the same day plus another 25 the next. It's tough to get 3 trades daily when most of the time the market moves less than 2% daily
  • #2,419
  • Jul 18, 2017 11:13am Jul 18, 2017 11:13am
Quoting cowcool
1-but I still don't have a strategy Pick 1 setup that is easiest for you. 5-my problem is that I don't know what to trade 6- all trends are very clean (see chart below) Find a super trending pair , what is a super trend? a super trend happens when D1,W1 and Mo Candle all goin same direction. That is the best definition of a super trend 7-I tried everything... I don't know what's the problem Dont try everything , find 1 setp that is easiest to you , define specific rules to that setup , mm and drawdown rules.Master the setup 14-I won't give up on...
yeah, that's why I'm trying now with scalping on M5 timeframe... I'm tired of waiting for my fail trades on H1 or H4 - for me 10-15 pips per trade will be enough and it's not much easier to get during low volatility...
Trade or not to trade - that is the question...
  • #2,420
  • Jul 18, 2017 11:57am Jul 18, 2017 11:57am
Freakout-

Most days markets just range. So if you were going for 30 to 50 pips trading H1 you would need a catalyst! Like unexpected news that the market has not priced in yet. Same goes for m5 going for 10 to 15 pips...

The market attempts to price in economic data all the time. It ranges most of the time SLOWLY moving one way or another as high impact news comes out. Most of the time the market is correct in pricing in this data. But sometimes the market is wrong. There is a big deviation in the data comming out.. So the market swings one way or another. And over the course of a day moves 80 to 200 pips... THAT is where you can make money.

People are trying to take trades when there is no reason for the market to move in their direction. Chartsdont tell you durable goods missed expectations by a huge margin. A Elliot wave won't tell you when the central bank is going to raise interest rates...
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