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3 steps to turn around your trading in no time

  • #81
  • Jul 13, 2018 11:47am Jul 13, 2018 11:47am
Quoting COGSx86
{quote} JmFinancials, can you answer my question?
Hello.

its pips not points. I have never used grid but heard its risky. also its different way then what we are discussing here.
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  • #82
  • Jul 13, 2018 2:12pm Jul 13, 2018 2:12pm
Quoting JmFinancials
{quote} Hello. its pips not points. I have never used grid but heard its risky. also its different way then what we are discussing here.

Thanks for the answer. With a GRID using a 2000 pip SL, or even just using the 2000SL on its own or this case having your GRID spacing to represent 2000 pips, or in this case 20,000 points, your system I think would be able to handle the draw down. But the biggest thing you will experience with a system your holding for weeks on end, would be the SWAP rate you pay over time. The end result is using a 2000 pip SL or GRID or w/e this system would become a negative gainer. Its great in theory, but from a practical stand point SWAP rates would kill any gains you make.


Just my 2 cents,
Learn, a forex trader must, unlearn and relearn he will.
  • #83
  • Jul 13, 2018 5:21pm Jul 13, 2018 5:21pm
Quoting JmFinancials
Speaking from 10 years of experience in market. you can turn around your trading in simple 3 steps, try it on demo and thank me later. 1) you need ample amount of money in your account. there is no way to make living out of forex from 100 dollar account. 2) you need to remove your stop loss 3) zoom out on daily chart completely and see the picture crystal clear. thats it. Hope it helps some people who are working hard to make living out of forex market. FRUSTRATED TROLLS WILL NOT BE GIVEN ANY NOTICE BEFORE IGNORE BUTTON IS PRESSED, SO KEEP YOUR...
1. I have $100,000 (I think that's ample enough right? )
2. I open a trade at $1000 per pip
3. I don't put a stop loss
4. I zoom out to the daily timeframe

But it did not turn around my trading. The next 3 days I see the account go down to 0.. margin. ;-)

You didn't really give any info on how to turn my trading around.
  • #84
  • Jul 13, 2018 5:42pm Jul 13, 2018 5:42pm
Quoting DojiSan
{quote} 1. I have $100,000 (I think that's ample enough right? ) 2. I open a trade at $1000 per pip 3. I don't put a stop loss 4. I zoom out to the daily timeframe But it did not turn around my trading. The next 3 days I see the account go down to 0.. margin. ;-) You didn't really give any info on how to turn my trading around.
$1,000 per pip seems a bit hefty if you are not sure about your approach.

Also, I am not so sure measuring in pips is the way to go.
  • #85
  • Jul 13, 2018 10:24pm Jul 13, 2018 10:24pm
Quoting DojiSan
{quote} 1. I have $100,000 (I think that's ample enough right? ) 2. I open a trade at $1000 per pip 3. I don't put a stop loss 4. I zoom out to the daily timeframe But it did not turn around my trading. The next 3 days I see the account go down to 0.. margin. ;-) You didn't really give any info on how to turn my trading around.
If I would you and have 100k I would open trade 10 dollar per pip and take proper entries my trading will be 110% turn around.
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  • #86
  • Jul 13, 2018 11:37pm Jul 13, 2018 11:37pm
Thanks for your kind suggestion. We all the naïve traders are here so that we can take valuable advice from experts and get some good suggestions from the expert teams. However, it is true that micro trading account or smaller investment can help a forex trader to generate additional income but it can’t be the main source of income. And the use of proper pending orders can only help traders to manage his risks, otherwise the opposite can happen.
  • #87
  • Jul 14, 2018 12:16am Jul 14, 2018 12:16am
Forex is a business just like any other were you will need good capital to make good money.....if you try underfunded you wont last too long.

so even when you doing demo, do with 50 or 100k and trade small lots.

Trading with pending orders from very strong supply and demand point is safest from all especially with ample money and very large stops.
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  • #88
  • Jul 14, 2018 12:23am Jul 14, 2018 12:23am
Thank you for your messages, I will post trade set ups from Monday.
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  • #90
  • Jul 14, 2018 12:33am Jul 14, 2018 12:33am
Sure I just made favor on you so you don't have to waste time on this thread any more.

Do whatever you find profitable for your self.
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  • #91
  • Jul 14, 2018 1:33am Jul 14, 2018 1:33am
Weekend Wisdom : Don't ever forget who was by your side when you had nothing
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  • #92
  • Jul 14, 2018 2:54am Jul 14, 2018 2:54am
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20180714_132209.jpg Size: 57 KB
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  • #93
  • Jul 14, 2018 4:35am Jul 14, 2018 4:35am
no wonder, when i started my first trading in forex on March 2015, I used to trade like this 10-20 pips but NO stop loss. Here 2000 pips stop loss & no stop loss is same. When you always sit in front of PC

but, my ques is - If price go opposite direction & its keep getting farther away like after 25m its 30pips away then after 3h its 150 pips away... & keep getting bigger & bigger

What you going to do?

You will quit, so it seems like you are using "Dynamic Stop loss" rather than fixed stop loss or should we say "ATR based stop loss"

Not bad idea... Its good for preventing stop loss getting hit by spikes
  • #94
  • Jul 14, 2018 4:43am Jul 14, 2018 4:43am
mental stop loss is fine,incase if PA decides to go against you.
Attached Image
  • #95
  • Jul 14, 2018 4:43am Jul 14, 2018 4:43am
but for 10-40 pips Daily chart is a bad idea. You don't need a clear picture for 10-40 pips. Instead you need to see the noise
  • #96
  • Jul 14, 2018 5:07am Jul 14, 2018 5:07am
great trade for monday with large stop...Ill get in.


USD/JPY Forecast: Overstretched at 6-month highs, Powell's power play awaited
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  • #97
  • Jul 14, 2018 9:19am Jul 14, 2018 9:19am
I just noticed one of my late friday trade had hit tp.

TP and SL is important
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  • #98
  • Jul 14, 2018 11:29am Jul 14, 2018 11:29am
Quoting JmFinancials
I just noticed one of my late friday trade had hit tp. TP and SL is important {image}
How big sl/tp ratio you use ?
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  • #99
  • Jul 14, 2018 11:31am Jul 14, 2018 11:31am
Quoting Profess
{quote} How big sl/tp ratio you use ?
you can see it in the picture
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  • #100
  • Jul 14, 2018 12:51pm Jul 14, 2018 12:51pm
Quoting JmFinancials
Forex is a business just like any other were you will need good capital to make good money.....if you try underfunded you wont last too long. so even when you doing demo, do with 50 or 100k and trade small lots. Trading with pending orders from very strong supply and demand point is safest from all especially with ample money and very large stops.
Hopefully, you put this thread in the Trading Discussion forum to allow for a real discussion. That means the sharing of ideas-even ones you don't like.......

You start off here by making a valid point. Trading Forex is a business, and the underfunded are facing almost extremely high barriers to success. But then you say, even when doing demo, one should start with 50 or 100k. This is erroneous. In order to simulate real world trading as much as possible, one should start a demo with an amount equal to their anticipates real account starting amount. Learning to trade on a 100k demo account will not properly prepare you to trade your underfunded 300.00 real money account.

As for your overall large stop 2000SL/no stop premise, this is the worst advise most traders can get. You sound like a person who is afraid to be wrong. You're "it's not a loss, if I don't take it" philosophy seems more like ego protection than sound money management. This may work for you, but almost every other trader on the planet needs to learn to MTFU and cut losses short. You can't make the next (winning) trade if there's no money in your account.
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