looking WPP {image}
- #22,182
- Nov 1, 2018 2:22am Nov 1, 2018 2:22am
- Joined Jun 2010 | Status: Trader | 1,509 Posts
{quote} This is impressive 1pip I congratulate you on your progress and this is something I’m working towards so in essence your a inspiration for someone who has dedicated there time and learnt the fundamentals of this method. Could I ask what have you learnt and changed from the beginning of trading this system, how did you grow? Did you become more conservative? Did you let traders run longer or did you bank quicker and then get back in the dips? What advice would give in order to achieve what you have? what are your plans in the future depending...
If you have a small account like me you feel the urge to risk more than you actually can allow, you're basically chasing money. To lose 2 grand is not the same if you lose 200 grand. This time with this account I pressed this urge down and tried to not make money but gain certain percentage constantly every month, trading like I have a huge account. My goal is 0,5% a day or 10% a month but to be honest everything over zero is success. If I had 200K account I would be happy with even 5% or less, picking trades more conservatively.
Secondly, you are right, I'm holding trades longer and let them work out. This needs a lot of trust into system. Hard to do if you're chasing money, your eyes are glowing when already in positive 5€. So I'm not doing that anymore. But basically having more positions in one trade allows you to profit at pre deteremined levels and let other positions run till market takes you out. Mostly I'm doing this with pairs which have positive swap.
What I love about Davit's teachings is that he has many times pointed out the psychological aspects of trading, therefore are the books in the clipboard and videos of MD. I've actually read every one of them and watched the videos. I'm not saying that these are the books you should read but at least it's a start, I've read many other books as well. I believe that a trader needs a special mindset and this is what these books help you achieve. This system is one package with these books for a correct mindset, levels (fib pivot) to watch, risk and money management rules (you can set them according to your account and risk tolerance).
Also I'm planning my trades ahead, doing the calendar, checking the levels where I would enter a trade and waiting till price gets there. Doing all that looks more professional. I mean not just doing the calendar but investing time into planning. This is my conservative style for capital preservance and minimizing DD.
Future plans are achieveing 4K which is doubled money
. I know it's not much but if you look at the gain percentage and DD percentage then it's more than satisfying. After that I will probably add more money into account and trying to double that in one year - #22,183
- Edited 2:33am Nov 1, 2018 2:22am | Edited 2:33am
- Joined Jan 2015 | Status: Never underestimate value of an pip | 4,683 Posts
{quote} Maybe but the div here is a red sighn that is possible to price touch 100 before get down... Who know's! By the way on NZDCAD is price aproching WPP and in these way you can trade PP with trend (these situations are very rare but exist)! Have a good night from me for tonight. {image}
more reason to watch it NZD/CAD
GU
Notice the low DD of the entries I prefer not to jump straight away to trades as pivot are not magical zones where price will reverse but a very nice visual tool for key levels where price MAY react...
Those with Tight SL are trades with increased lot size, I usually go with 0.01 as my account is peanuts, in those I went 0.04, so they fly or they don't fly but I don't want to hold any DD on these kind of bigger positions and I only open them when I see price is already going in the direction I like.
Notice the low DD of the entries
I prefer not to jump straight away to trades as pivot are not magical zones where price will reverse but a very nice visual tool for key levels where price MAY react...Those with Tight SL are trades with increased lot size, I usually go with 0.01 as my account is peanuts, in those I went 0.04, so they fly or they don't fly but I don't want to hold any DD on these kind of bigger positions and I only open them when I see price is already going in the direction I like.
Building a Freedom All Time Return:
5,178.8%
- #22,193
- Nov 1, 2018 7:13am Nov 1, 2018 7:13am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Starting my month with a bang closed GU may reload later as I am anticipating a correction drop below 29
+934 actual dollars
+934 actual dollars
In trading, you have to be defensive and aggressive at the same time
- #22,194
- Nov 1, 2018 7:15am Nov 1, 2018 7:15am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
UJ turn next
In trading, you have to be defensive and aggressive at the same time
- #22,195
- Nov 1, 2018 7:20am Nov 1, 2018 7:20am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Closed EG
+1106
nice gain in 1day +$1751
I got idiots who question how I get 14k in a month.Here is how look!
+1106
nice gain in 1day +$1751
I got idiots who question how I get 14k in a month.Here is how look!
In trading, you have to be defensive and aggressive at the same time
- #22,196
- Nov 1, 2018 7:23am Nov 1, 2018 7:23am
Called this UC a few days back because of the triple top and the fact that 1.32 was way too high a price for this pair right now. Also love how price pushed beyond r38 and dropped.
There could be a hundred reasons why that happened, my reason could be wrong, but here it is nonetheless: Smart money knows where most of us enter our trades, usually when reversal or turn is too obvious, I notice price to push beyond, catching most of the stops of people who are short, and creating liquidity for people to go long so Smart money can catch the other side of their trades and have price drop in their favor.
Again, I could be 100% wrong, take with a grain of salt, would love to hear someone else's opinions.
There could be a hundred reasons why that happened, my reason could be wrong, but here it is nonetheless: Smart money knows where most of us enter our trades, usually when reversal or turn is too obvious, I notice price to push beyond, catching most of the stops of people who are short, and creating liquidity for people to go long so Smart money can catch the other side of their trades and have price drop in their favor.
Again, I could be 100% wrong, take with a grain of salt, would love to hear someone else's opinions.
- #22,198
- Nov 1, 2018 7:34am Nov 1, 2018 7:34am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
