Locked in +50 pips = 1 x 1 initial risk {image}
Off to a great start in 2019.
Lets hope all traders can start in the green and then continue on.
Masterrmind........
Master your Mind then Master your Trades
- #3,081
- Jan 4, 2019 4:12pm Jan 4, 2019 4:12pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Off to a great start in 2019.
Lets hope all traders can start in the green and then continue on.
Masterrmind........
- #3,082
- Jan 4, 2019 10:59pm Jan 4, 2019 10:59pm
- Joined Sep 2018 | Status: Complete acceptance of probability | 306 Posts
{quote} This is a great start ! It is the principle of adding monthly deposits that is key here and not necessarily the amounts. If at a later stage the desire is there to increase monthly deposit amount then you simply do so and if at some stage you do not want to add extra funds on a given month or a string of months then it is ofcourse completely your own choice. Adding consistent monthly deposits is a very powerful process because at the time of deposit it assists in 'soaking' up some of the floating DD and may offer the opportunity to open...
Thank you for the input. Yes, I plan to apply the mentality you suggested: investor type and long term goals. I would love to add additional positions with each octive in our favour move, but I still don't have a grasp on it. I will look at your trades further to understand and gather trust in doing so.
I'm still at the struggling stage with managing one entry in the trade
Forex - It's finger lickin' good
- #3,084
- Jan 5, 2019 3:50pm Jan 5, 2019 3:50pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
I have a question about a potential trade. I mean I'm not sure on doing it but just want to ask opinion about it, if my analysis is wrong or I'm omitting something: The position would be sell at market price with a SL at around 13.95 and TP at 13.50. The risk:reward would be positive, so that is a good sign. Reasons for this: Daily 1) Black Spinning Top after accelerated uptrend 2) Fib from the major swing 61.8% 3) Fib extension from minor swing 127.20 4) From the uptrend channel it has been created an aggressive another upper trend with an abrupt...
1. What was the cause of the up move in the first place ?
2. Are the same reasons that pushed price up still present (XAGEUR) or is the move over?
3. If you think the move UP is over, why do you think this is the case from a fundamental perspective NOT technical ?
4. What are your expectations on price trajectory now and in the future as related to your potential setup ?
Confluence is not only about the technical side it is a combination of the technical and the fundumental.
Hints:
a) Consider the reasons behind the flow of money into and out of the XAGEUR market.
b) What is XAG as an asset and why would money flow into it ?
c) What is EUR as an asset and why would money flow out of it ?
d) Does USD have any connection to the up move shown on the XAGEUR symbol ?
e) Since your bias is for a drop in the price of XAGEUR why would the market now want to sell off silver in exchange for euros ?
Fitting it all together:
Assuming you have the fundamentals worked out as best as possible now mate the technical and the fundamental sides together looking for confluent zone for your setup.
As professional traders we only seek the best possible confluence knowing that we will always 'lag' behind price and therefore our entry timing will never likely be perfect.
So as traders we seek the 'best fit' approach.
The more confident we are in the planned setup the closer will be our entries to the upper risk limits.
The less confident we are in the planned setup the less risk we are likely to apply in the setup.
Masterrmind.............
Master your Mind then Master your Trades
- #3,086
- Jan 7, 2019 4:50am Jan 7, 2019 4:50am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Thank you for the input. You're right, I'm missing the fundamentals from my analysis. 1. What was the cause of the up move in the first place ? a) Consider the reasons behind the flow of money into and out of the XAGEUR market. I have began the review process by looking first at the date the bullish big bar has formed and noticed it is 26th Dec. My first thought is that it was a profit maneuvre from the low liquidity market and the trend was already up. I think it's strange that holidays imply gifts and silver products are usually in demand...
The answers are not always that easy to uncover and in some cases are not easy to outline.
My intention with providing you with the list of questions was to get you thinking about important fundamental drivers in the market.
Especially those that relate directly to your symbol of interest.
Its important to realize that perfect confluence in a trade setup is never really possible.
This means that the setup we end up taking has to meet our own level of confluence be it rated at 50/60/70/80/90 percent.
Do not take these percentages as literal, they are purely there to represent your own level of confidence in any given setup based on the technical and fundamental analysis.
Masterrmind............
Master your Mind then Master your Trades
- #3,087
- Jan 7, 2019 5:05am Jan 7, 2019 5:05am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
MT5 Account #DL5 has now been funded with US$1000 on January 7, 2019 as per Post 1 outline.
Future deposits as mentioned in Post 1 will also follow on a per month basis of a minimum of 1K.
As was shown in the 1st account (also MT5) so too shall this account follow a transparent trading approach.
Traders should be careful if they intend to follow my trades on the DL5 account !
The DL5 trading account is going to be traded at the upper level attempting to achieve 10% monthly compound on average.
This is an ambitious level meaning that anything could happen including the loss of funds.
In any case I have a well structured trading plan in place that will be followed very closely.
Lets compare this DL5 account with the gains made on the other account over the same period of time, namely 12 months of trading.
All traders are welcome to join in if they wish but I do not expect too many to follow.
Good trading,
Masterrmind..............
Future deposits as mentioned in Post 1 will also follow on a per month basis of a minimum of 1K.
As was shown in the 1st account (also MT5) so too shall this account follow a transparent trading approach.
Traders should be careful if they intend to follow my trades on the DL5 account !
The DL5 trading account is going to be traded at the upper level attempting to achieve 10% monthly compound on average.
This is an ambitious level meaning that anything could happen including the loss of funds.
In any case I have a well structured trading plan in place that will be followed very closely.
Lets compare this DL5 account with the gains made on the other account over the same period of time, namely 12 months of trading.
All traders are welcome to join in if they wish but I do not expect too many to follow.
Good trading,
Masterrmind..............
Master your Mind then Master your Trades
- #3,090
- Jan 7, 2019 6:37am Jan 7, 2019 6:37am
Hello Masterrmind & pipsandkfc,
This thread is always a Great place for learning on the Forex. Information to do this the RIGHT way! Thank you also to pipsandkfc for all you do as well I Love reading all the posts that are posted here. I am very much Grateful for everyone's input!
Jeff................
This thread is always a Great place for learning on the Forex. Information to do this the RIGHT way! Thank you also to pipsandkfc for all you do as well I Love reading all the posts that are posted here. I am very much Grateful for everyone's input!
Jeff................
Happily Married to MY College Sweet Heart!
- #3,093
- Jan 7, 2019 9:31am Jan 7, 2019 9:31am
- Joined Sep 2018 | Status: Complete acceptance of probability | 306 Posts
Masterrmind, it seems to me that guys are going to wait and copy your trades, to me that is a big responsibility that I would not want, in all fairness I have worked hard over a long time to try and see if there is indeed any validity in Murrey, like every thing in this game nothing arrears to be the Holy Grail, but in general I have and do enjoy the battle, I think you know me enough now after all our private conversations that I like to do things my own way and in no way am I a Red Button Green Button trader, as not to confuse any one that does...
It's a shame, he's been working on developing the new Master Octive System and providing constant improvements to the thread. I think this would be a good time to show Masterrmind that we support him by posting and showing the reasons we're following his thread so he can better see that our intentions of learning are serious.
I'll go first:
1) I like the fact that it's D1.
Initially I wanted a low timeframe like 5-15 MIN so I could place daily trades and feel like I was growing my account. I realized that this is not a hobby where I click a few times to just make money like going into a casino to relax. Then I thought smaller timeframes mean smaller profits but the same broker costs. This reflects in my profit margin and I have to get a high accuracy timeframe. So it was a no-go zone for me: higher precision and smaller profits? This doesn't sound pretty compatible to someone just starting.
A big plus is that I have the entire day free. I don't know how many of you expect to live off forex or have a big enough account to do so, but when starting it's better to have a back-up solution in real life or other online venture: coding, online shop and others.
2) I like the fact that he's providing an all inclusive solution in a professional way
I realized by reading the thread and talking to him that he's doing this in a professional way and it's the mentality he wants to enforce to us. Trading I don't think is something necessarily fun like going to slot machines, you must analyze all aspects and then put the money on your opinion. I think the fun begins once we withdraw the profits
3) His system is disciplined-discretionary and I think it has the best chance to stand the test of time. I have nothing against indicators and people using them. I didn't get a chance to use them since my trading began directly in the thread and I'm happy it happened this way. Why?
My first 3 months trading forex were profitable and I made around 800 pips. It was not something I really expected and when I look at the charts I start to understand the mentality behind price pushing. His dashboard is an indicator, but just to save time on what pair to analyze. The holly grail is the trader itself, not the indicator. This is what he wants to polish in us!
4) I know that I won't live out of forex income sooner than 5 years, but that's ok. At least I have a big, solid chance to achieve this. After 5 years? The usual dream: either full time trading or a nice retirement fund.
The alternative: have a small account, force it to the max with leverage, small timeframes and no discipline will just result in thinking I'm closer to the dream, but in reality it's nowhere in sight. And this process could take longer than 5 years plus more money would be lost on the road. Several small accounts burned while hoping to hit 1M ASAP.
I don't want to sound overconfident, I know I'll make this account to 1 MIL, I just need stay patient, focus on side activities to gather funds for the account and then just trade according to the plan.
Let's say I won't make it to 1M, what will happen? I'll have money saved because I deposited constantly into my account, sharpen skills to make money besides forex and hopefully get the skill of trading profitable.
Let's say I don't get the skill to make profits constantly. I'll still have money saved and the skills that I developed to fund my account. Then I could use the funds from forex to expand those skills into a bigger business.
I just don't want to have fake expectations of making a living, just starting, with a small account and on small time frames just by pushing two buttons. I don't think that's the way it happens in reality. In this thread we have a real offer on the table, that is not just good, but plausible and we must let Masterrmind what we really think about this.
I hope other thread viewers will share their view on why they chose this thread to learn. Probably in the beginning you don't want to post charts or trades you're considering as you think they're wrong, but I think just the reasons for selecting Masterrmind could be said.
Forex - It's finger lickin' good
- #3,095
- Jan 7, 2019 9:49am Jan 7, 2019 9:49am
Hi All,
I am looking at the Daily EURCHF and I am anticipating an upside move. Perhaps I should have waited to when the price passed above the MML (2/8)P
Best regards,
Jeff............
I am looking at the Daily EURCHF and I am anticipating an upside move. Perhaps I should have waited to when the price passed above the MML (2/8)P
Best regards,
Jeff............
Happily Married to MY College Sweet Heart!
- #3,096
- Jan 8, 2019 5:35am Jan 8, 2019 5:35am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} OAPDave, if this is happening it's bad, because we're here to learn how to trade from Masterrmind as he has proved there's plenty to offer and backed-up by a real thread trading account. It's a shame, he's been working on developing the new Master Octive System and providing constant improvements to the thread. I think this would be a good time to show Masterrmind that we support him by posting and showing the reasons we're following his thread so he can better see that our intentions of learning are serious. I'll go first: 1) I like the...
The QCS methodology has proven itself worthy over a transparent 12 month trading period.
The Master Octive toolset will be released in beta format towards the end of this following weekend initially in MT4 format followed shortly after by MT5.
For those traders wishing to have a dashboard without expiries please understand that this is not likely to happen.
Far too often traders take the tools provided by others and run off into the sunset applying them in a way far removed from their intended purpose.
It is possible that longer term expiries may be provided to those traders who participate in the thread from time to time posting charts and commentary closely related to that found in Post 1 of this thread.
A link will be provided very soon to the DL5 MT5 trading account afterwhich I will start posting my potential setups and the setups actually taken before the fact in a transparent manner.
Lets build up this method and turn it into something great.
I assure you it will be well worth the effort because this method works.
Good trading,
Masterrmind............
Master your Mind then Master your Trades
- #3,097
- Jan 8, 2019 5:37am Jan 8, 2019 5:37am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{image} One More Decent set up with minimum risk on GBP USD on 1 Hour Time Frame
Masterrmind...........
Master your Mind then Master your Trades
- #3,098
- Jan 8, 2019 5:38am Jan 8, 2019 5:38am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Hi All, I am looking at the Daily EURCHF and I am anticipating an upside move. Perhaps I should have waited to when the price passed above the MML (2/8)P Best regards, Jeff............
Good work !
Masterrmind............
Master your Mind then Master your Trades
- #3,099
- Jan 8, 2019 5:44am Jan 8, 2019 5:44am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Can we get the dashboard permanently? idk what to do if the dashboard is gone
The QCS Method can be very easily traded without the dash at all in manual mode.
Yes it might be a bit slower but then again a D1 TF setup allows an abundance of preparation time.
Also note that better quality versions of the dashboard are in progress including a fully automated version to be released later provided the thread carries some participation.
Masterrmind.............
Master your Mind then Master your Trades
