3 steps to turn around your trading in no time | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Why your broker is your friend and your enemy 8 replies

Time to make a turn around 12 replies

How did I turn my trading around from -38% to 500% this month? 28 replies

At what time is your trading (your trade timing) 9 replies

Dear Full time/Part time Traders – Thanks for your time and help 7 replies

Attachments: 3 steps to turn around your trading in no time
Exit Attachments

3 steps to turn around your trading in no time

  • #61
  • Jul 13, 2018 7:46am Jul 13, 2018 7:46am
Quoting Rennaissance
{quote} You are in a day dream caused by your serial losses in the markets. I suggest u take a break from trading just to gain back sanity. Also read the black swan by nassim Nicholas taleb, the probability of you taking a 2000pip loss is not as infinitely small as you think.The truth is I m disappointed that after 10 years in this business you haven't learned a thing. Pfff elementary mistake: picking pennies in front of a bulldozer. But I genuinely want to help you thou, pardon my harsh words, I don't mean to offend you. I just think in your case...
well I am living on forex income from last many years thats a quite good achievement for me...rest is not worth to reply.

feel free to try what ever you like and be happy.
Help Others with GOD help
  • #63
  • Jul 13, 2018 7:49am Jul 13, 2018 7:49am
I shared my idea and my trading style. if you have any thing worth feel free to share.

any one?
Help Others with GOD help
  • #64
  • Jul 13, 2018 7:53am Jul 13, 2018 7:53am
Quoting JmFinancials
{quote} well I am living on forex income from last many years thats a quite good achievement for me...rest is not worth to reply. feel free to try what ever you like and be happy.
no prbleme

freedom of speech is one of my rules

  • #66
  • Jul 13, 2018 8:01am Jul 13, 2018 8:01am
this is all you got to share? an EA? and you called my post funny really?

HAHAHA
Help Others with GOD help
  • #67
  • Jul 13, 2018 8:07am Jul 13, 2018 8:07am
Review of so called profitable EA
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2018-07-13_18-37_Buy the 'AlgoTradeSoft.jpg Size: 21 KB
Click to Enlarge Name: 123456.jpg Size: 40 KB
Help Others with GOD help
  • #69
  • Jul 13, 2018 8:11am Jul 13, 2018 8:11am
you got your fair chance and you lost it.
Help Others with GOD help
  • #70
  • Jul 13, 2018 8:12am Jul 13, 2018 8:12am
Ok, so correct me if I am wrong but STOP LOSS orders are held to be executed "on the market" - IE it executes on market price once the price you specify is hit.

So in an illiquid market, having your stoploss closer and not taking into account the illiquidity probably kills many people right? Like for this completely mock example (admittedly):

 

  1. Say you are long. You have a stop at 1.1616. This would mean your broker holds your order to execute on BID Market SELL side if your price you give him is hit.
  2. Someone else wants to move 1,000,000 in a market sell. IE their MARKET sell hits the BID side of the book.
  3. In the second "illiquid" market screenshot, maybe unexpected news came out and market makers clear out "buy on bid" orders on the order book prior to this sell happening...


So check it:

  1. in liquid markets the 1M order it fall to 1.1618 and the average price is around 1.1619 - but the market prints 1.1618 (first image).
  2. in the illiquid market, that same 1,000,000 SELL MARKET order by someone else pushes the price down to 1.1616. SEE, your stop would be much more likely to be hit in an illiquid time (second image)
  3. so think about it: in news events, where everyone says you absolutely NEED a stop, that could actually be a terrible time to have one..
    and for those that say just don't trade on the news: there are ALSO always unexpected events that cause illiquidity.


So my point being: no one takes into account illiquidity or order book for the stop losses. I'm always hesitant to use SL and use worst case option because of this... because I feel at certain times liquidity is pulled or bad, it would hit SL, then go back to the other direction up to be closer to the ask (where everyone market-buys at)... Right?


and think about it this way also: so if your SL for your long is then triggered in MARKET SELL, well then someone has to be taking the BUY (LONG) side of this. Hint, not you... =D

Attached Images
  • #71
  • Jul 13, 2018 8:24am Jul 13, 2018 8:24am
Quoting skillz16
Ok, so correct me if I am wrong but STOP LOSS orders are held to be executed "on the market" - IE it executes on market price once that is hit. So in an illiquid market, having your stoploss closer and not taking into account the illiquidity probably kills many people right? Like for this completely mock example (admittedly): Say you are long. You have a stop at 1.1616. This would mean your broker holds your order to execute on BID Market SELL side if your price you give him is hit. Someone else wants to move 1,000,000 in a market sell. IE their...
When the market is less liquid, price will be more volatile as there are less orders at each price point. That is why you see the exotic pairs move more erratically compared to the more liquid pairs.

Price will tend to gravitate towards clusters of stops... orders need to be filled. When this happens there will be a liquidity vacuum in the opposite direction which explains why price tends to snap back immediately after a stop hunt. Understanding the mechanics of price movements will help explain certain market behaviours.
  • #72
  • Jul 13, 2018 8:28am Jul 13, 2018 8:28am
Quoting loleno
{quote} When the market is less liquid, price will be more volatile as there are less orders at each price point. That is why you see the exotic pairs move more erratically compared to the more liquid pairs. Price will tend to gravitate towards clusters of stops... orders need to be filled. When this happens there will be a liquidity vacuum in the opposite direction which explains why price tends to snap back immediately after a stop hunt. Understanding the mechanics of price movements will help explain certain market behaviours.
Nice. Yeah, we are in agreement.

That is what I mean above. You summarized it well also.

And that is why I'd favor some kind of option insurance or other type of insurance other than a SL. I also see what the OP means about using a 2000 SL and just manually stopping on system - because it prevents the issues you and I just mentioned in the above two posts.
  • #73
  • Jul 13, 2018 8:35am Jul 13, 2018 8:35am
liked
Help Others with GOD help
  • #74
  • Jul 13, 2018 8:42am Jul 13, 2018 8:42am
I totally agree with the idea of not using sl.my sl was always hunted by my brokers ,so I m not using sl. don't use stop loss at all and im very happy with this style of trading because the PA always comes back if we are following trend trading,there is no need of stop loss ,we got to have big account and must take smaller lots.
  • #75
  • Jul 13, 2018 8:44am Jul 13, 2018 8:44am
smaller lots depending on your account size. life becomes so stress less and money can be made as well.
Help Others with GOD help
  • #76
  • Jul 13, 2018 8:44am Jul 13, 2018 8:44am
Quoting T4Trade
I totally agree with the idea of not using sl.my sl was always hunted by my brokers ,so I m not using sl. don't use stop loss at all and im very happy with this style of trading because the PA always comes back if we are following trend trading,there is no need of stop loss ,we got to have big account and must take smaller lots.
Congrates
Help Others with GOD help
  • #77
  • Jul 13, 2018 9:42am Jul 13, 2018 9:42am
JM Financials- You have confirmed what i always thought !
i have tried many systems/robots all with limited success
in my short trading experience of 3 x years and thought there must be an easier way.
I always have looked at weekly/daily/4hr Charts before making a trade.
Yesterday ( feeling gloomy/fed up with expensive no good systems) I thought what the
hell and over the period of 2/3 of the trading day made 4 x trades and bagged over £100
with no losses -using your method on a £1800 Mt4 account. Now i know it is early days
and expect some losses- but ignore the doubters/doom mongers on here ( who are very quick to criticise)
- but never display their wonderful money making techniques.
Keep up the good work and thank-you for your time/effort sharing with us

Peter
  • #78
  • Jul 13, 2018 9:48am Jul 13, 2018 9:48am
very happy to read this.

make sure you keep increasing account size until you are really comfortable with your lot size.

after that you can comfortably start withdrawing funds and use it for living.

feel free to contact and talk.
Help Others with GOD help
  • #79
  • Jul 13, 2018 10:02am Jul 13, 2018 10:02am
now the only job is left to find good entry points.

and for this you can use multiple methods like

support resistance
moving averages
bollinger bands
RSI
stochastic

I use RSI for my entries.
Help Others with GOD help
  • #80
  • Jul 13, 2018 11:18am Jul 13, 2018 11:18am
Quoting COGSx86
2000 points or 2000 pips? GRID system you could use, hmmmm

JmFinancials, can you answer my question?
Learn, a forex trader must, unlearn and relearn he will.
0 traders viewing now