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Simple advice but it can turn around your trading

  • #1
  • First Post: Jul 12, 2018 9:00am Jul 12, 2018 9:00am
this is my finding on manual trading after 10 years of being associated with markets.


Manual trading with SL is almost impossible, you must be genius if you are using SL and yet you are profitable for long run.

try and remove SL and you will be profitable in no time.
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  • #2
  • Jul 12, 2018 9:59am Jul 12, 2018 9:59am
Quoting JmFinancials
this is my finding on manual trading after 10 years of being associated with markets. Manual trading with SL is almost impossible, you must be genius if you are using SL and yet you are profitable for long run. try and remove SL and you will be profitable in no time.
You should post this thread in trading discussions not in journals...nobody looks here.
  • #3
  • Jul 12, 2018 10:28am Jul 12, 2018 10:28am
Anyway i am replying here to Wavegarrick so not to take anymore space on eurusd thread:

Quoting Wavegarrick
{quote} Hi Stillearnin, The point for me is simple. I see too many guys trading 1$ lot sizes with a small deposit. Of course you have to use stoplosses when you use high leverage. I certainly would not sleep if I knew I had a 1 dollar trade open and no stoploss. So if you break that 1 dollar lot size down to .01 cent trades you would have to get it wrong 100 times before you are in the same position. I do not think anyone can get it wrong 100 times. It is a case of odds and probabilities. Hope this gives you more clarity. Trading is a marathon...
I understand that you have to use super small lots but it still doesn't add up to me. First, you are cutting into your profits severely by using super small orders whereas you can be 40% winner with stops, have a good risk/reward ratio and it will still get you there. Pain free. Then there's also the story of a trader (forgot his name), that entered a long on usd cad at 1.4275 or something like that beginning of 2016 and 2 years later he was still in the same trade.
Now if he would have done what you said and continued to add 99 more positions to his original trade, he would have been broke by now. There are many stories of people that took cent accounts to really large ones only to bust them eventually because of that 'one trade' that went too far against them. All it takes is one trade.
  • #4
  • Jul 12, 2018 11:16am Jul 12, 2018 11:16am
Quoting Stillearnin
Anyway i am replying here to Wavegarrick so not to take anymore space on eurusd thread: {quote} I understand that you have to use super small lots but it still doesn't add up to me. First, you are cutting into your profits severely by using super small orders whereas you can be 40% winner with stops, have a good risk/reward ratio and it will still get you there. Pain free. Then there's also the story of a trader (forgot his name), that entered a long on usd cad at 1.4275 or something like that beginning of 2016 and 2 years later he was still in...
Stillearnin, not sure why you posted my reply in this thread because my response was to your post in the Eurusd thread. Nevertheless, I will try and answer.. You have to see trading as a business. There is no one trade makes or breaks in forex. I for one will make mistakes by getting my entry wrong but I can regroup and look at where I got it wrong. A high leverage trade is simple make or break and high pressure . You could probably see my method as scaling in. I have 50 plus trades open at any given time with low leverage trades. It is nothing to see a day close of 1000 pips plus. would you do this on a 1$ lot trade? Trades come in in pockets or baskets and I do trade 28 currency pairs. There is no set target per pair or special attention to trades in particular. It is the overall basket that matters.

Most important is to keep your margin levels healthy and in check.

Cheers
Trade to trade another day
  • #5
  • Jul 12, 2018 11:40am Jul 12, 2018 11:40am
That's your advice after 10 years of trading?

This place is full of total retards
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #6
  • Jul 12, 2018 11:47am Jul 12, 2018 11:47am
Quoting michisuperfr
That's your advice after 10 years of trading? This place is full of total retards
yes true thats my advice, feel free to prove me wrong by showing long term trading with SL.

challenge accepted?
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  • #7
  • Edited 2:27pm Jul 12, 2018 1:44pm | Edited 2:27pm
please admin delete this post
POW!
  • #8
  • Jul 12, 2018 1:46pm Jul 12, 2018 1:46pm
Quoting fxprimate
{quote} 10 years LOL It seems you will lose in both ways ... with or without SL ... the difference is you can die slow or quick Start over again, buddy
prove me wrong if you ever traded a live account, and yes in 10 years I have started many times and took millions of live trades so far.
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  • #9
  • Edited 2:27pm Jul 12, 2018 1:51pm | Edited 2:27pm
please admin delete this post
POW!
  • #10
  • Jul 12, 2018 1:53pm Jul 12, 2018 1:53pm
Quoting fxprimate
{quote} You need to change "profession"
not really I am living out of forex from last many years, and would like to be a forex trader for rest of my life.
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  • #11
  • Edited 2:27pm Jul 12, 2018 1:54pm | Edited 2:27pm
please admin delete this post
POW!
  • #12
  • Jul 12, 2018 2:03pm Jul 12, 2018 2:03pm
Quoting fxprimate
{quote} Ok buddy That's safe, always have an income extra forex. Keep going dont give up your time will come.
try to read again, I am living solely from forex income from last many years, and pls avoid editing posts once it is posted because thats not really a honest thing to do.

anyways my advice is for serious people who really want to be successful in forex world. those who have other ideas can follow their own ways.
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  • #13
  • Jul 12, 2018 11:53pm Jul 12, 2018 11:53pm
Quoting JmFinancials
{quote} prove me wrong if you ever traded a live account, and yes in 10 years I have started many times and took millions of live trades so far.
prove us right by showing your LIVE account explorer after trading for ten years using NO stoploss strategy. don't simply give advice when you can't owe up to it. geez, this thread should be moved to rookie's section.
  • #14
  • Jul 13, 2018 12:45am Jul 13, 2018 12:45am
Quoting CrocodileRex
{quote} prove us right by showing your LIVE account explorer after trading for ten years using NO stoploss strategy. don't simply give advice when you can't owe up to it. geez, this thread should be moved to rookie's section.
I do have trade explorers attached on my profile, few real few demo, public and private when I will really see the need to post the pictures I will do so.

till then read my first post 10,000 times more to grab what it really means.

Enjoy
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  • #15
  • Jul 13, 2018 12:48am Jul 13, 2018 12:48am
this is one of my student accounts, he is still learning the art of trading, trying to help him.

He doesn't use Stops now.
Attached Image (click to enlarge)
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  • #16
  • Jul 13, 2018 4:51am Jul 13, 2018 4:51am
I appreciate your honesty of using no stop loss

but we always learn since the beginning of entering the forex world that trading without stop loss is like suicide

nonetheless we also all know that there is no magic in this game, and no holly grail so how can we trade without stop loss if we surely know that not all trades we take can be winners,

would love to hear from you
  • #17
  • Jul 13, 2018 5:47am Jul 13, 2018 5:47am
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  • #18
  • Jul 13, 2018 5:50am Jul 13, 2018 5:50am
trading without Sl? really bad advice!
  • #19
  • Jul 13, 2018 6:16am Jul 13, 2018 6:16am
Quoting andys0506
{image}
yes due to sl....thats before
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  • #20
  • Jul 13, 2018 6:19am Jul 13, 2018 6:19am
Quoting JmFinancials
this is one of my student accounts, he is still learning the art of trading, trying to help him. He doesn't use Stops now. {image}
please show your real account instead of your student's ones. why should i learn from you if you don't show me how profitable you are?

Also, no demo account. Anything below 10k account is laughable. Any explorer less than one year is also laughable. Who are we kidding.....
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