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How to lose money

  • #141
  • Jan 22, 2019 11:17am Jan 22, 2019 11:17am
Quoting alphaomega
How to lose money? There are many ways to lose. This is one of my proven strategies. I developed this strategy many years ago and it still works today and it will continue to work until the end of time. (100% loss guarantee) {image} It's good that I don't use this strategy anymore.
We all wish the charts looked just like in the drawing. It will be easy both to win and to loose.
When you see it, BET big.
  • #142
  • Jan 22, 2019 11:32am Jan 22, 2019 11:32am
Try automated plus manual.....
Trade fearless not careless...
  • #143
  • Jan 22, 2019 11:39am Jan 22, 2019 11:39am
Quoting Rennaissance
{quote} We all wish the charts looked just like in the drawing. It will be easy both to win and to loose.
You are correct, real live charts don't look like that in the drawing. If it was, we will all be rich.
  • #144
  • Jan 22, 2019 2:57pm Jan 22, 2019 2:57pm
Quoting Rennaissance
{quote} Because taking advantage of trends is how you make money In the markets. For you make money, the market needs to trend your way.
No, the market just needs to reach your take profit level before it hits your stop loss level. Whether it trends there or gets pushed there by the market makers is beside the point. What we do know is the market has a regular pulse which can be measured and then traded. We call it the Average True Range which is seen as EXHAUSTION at the edges. So all we need to do is create a system that takes advantage of extreme moves when it hits exhaustion.

Then take the trade. I think George knows what I am talking about.
Trading thin liquidity at the boundary of the charts
  • #145
  • Jan 22, 2019 3:08pm Jan 22, 2019 3:08pm
Getting absolutely crushed. Lord, ahhhhhhhhhhhh. What the heck am I doing. We live to fight tomorrow.Longest drawdown in a long time.
When you see it, BET big.
  • #146
  • Jan 22, 2019 3:15pm Jan 22, 2019 3:15pm
Quoting Rennaissance
Getting absolutely crushed. Lord, ahhhhhhhhhhhh. What the heck am I doing. We live to fight tomorrow.Longest drawdown in a long time.
Never give up we all had atrocious days. I'm trading GBPJPY with a stop loss of 250 pips and only a few times my stop loss was hit. No pain no gain.
  • #147
  • Jan 22, 2019 3:18pm Jan 22, 2019 3:18pm
Quoting Hutch
{quote} Never give up we all had atrocious days. I'm trading GBPJPY with a stop loss of 250 pips and only a few times my stop loss was hit. No pain no gain.
Thanks man. Yeah no pain no gain:It took me a year and a half after finding a successful method to realize this. I kept on twicking my method for 18months, always looked pretty but found myself always hitting that stone. I just stopped fighting it man. I just surrender to the pain of losing.
When you see it, BET big.
  • #148
  • Jan 22, 2019 3:34pm Jan 22, 2019 3:34pm
Quoting RickM
We call it the Average True Range which is seen as EXHAUSTION at the edges. So all we need to do is create a system that takes advantage of extreme moves when it hits exhaustion.
Yes -- though, easier said than done. Would an ATR Trailing Stop help address the issue of "EXHAUSTION at the edges"?
  • #149
  • Jan 22, 2019 3:39pm Jan 22, 2019 3:39pm
Quoting RickM
{quote} No, the market just needs to reach your take profit level before it hits your stop loss level. Whether it trends there or gets pushed there by the market makers is beside the point. What we do know is the market has a regular pulse which can be measured and then traded. We call it the Average True Range which is seen as EXHAUSTION at the edges. So all we need to do is create a system that takes advantage of extreme moves when it hits exhaustion. Then take the trade. I think George knows what I am talking about.
RickM who on earth do you think is pushing the price so it trends? And "all" we need to do is look for exhaustion points? Friend if only it was that easy. You are falling into the perfect BB trap when you start looking for what you think are exhaustion points. And ATR is "average" I repeat "average" which means that the price can go a lot higher or lower on certain days. They want people to look for these suppose exhaustion levels and then of course the price will keeping on going up/coming down. I should know - it's happened to me in the past so many times I've lost count!! Sorry but that's another idea that needs binning fast.
  • #150
  • Jan 22, 2019 3:42pm Jan 22, 2019 3:42pm
Renaissance please take a look at the video at post #119. It is from nononsenseforex. If you want to retrain your brain to trade the daily chart you might want to join that group. I also believe that the big banks are the enemy of retail traders. It's much easier to trade daily charts 10 minutes a day than trade for hours on a 5-minute chart.
  • #151
  • Jan 22, 2019 3:45pm Jan 22, 2019 3:45pm
Quoting Rennaissance
{quote} I don't think price is or can be manipulated. The market is just too wide and range to allow that possibility. On the contrary, the chances that you know something that millions of other people don't know is pretty slim. You are just one more variable in a gigantic noise of others.

Rennaissance have you ever had a buy/sell stop that you set at a perfect spot and price action grabs it but moves off in the opposite direction in a big hurry? Or have you had a limit order at say xx99 and price reaches xx9880 - not quite reaching your limit by fractions of a pip before rushing up or down again? it's happened to me so many times I've lost count! Need I say more?

(If you haven't then you've never traded the forex market!)
  • #152
  • Jan 22, 2019 3:50pm Jan 22, 2019 3:50pm
Quoting Hutch
Renaissance please take a look at the video at post #119. It is from nononsenseforex. If you want to retrain your brain to trade the daily chart you might want to join that group. I also believe that the big banks are the enemy of retail traders. It's much easier to trade daily charts 10 minutes a day than trade for hours on a 5-minute chart.
100% right

Hutch I think most people on this thread have not even bothered to watch it. Unfortunately most of these people who are part of the 99% who are losing money have no interest in learning from the 1% who are making money!!
  • #153
  • Jan 22, 2019 4:05pm Jan 22, 2019 4:05pm
Quoting jmtini
{quote} RickM who on earth do you think is pushing the price so it trends? And "all" we need to do is look for exhaustion points? Friend if only it was that easy. You are falling into the perfect BB trap when you start looking for what you think are exhaustion points. And ATR is "average" I repeat "average" which means that the price can go a lot higher or lower on certain days. They want people to look for these suppose exhaustion levels and then of course the price will keeping on going up/coming down. I should know - it's happened to me in the...
Exhaustion zones leads to rejection price action signals which is your signal to trade. Look at the wicks in relation to its close
Trading thin liquidity at the boundary of the charts
  • #154
  • Jan 22, 2019 4:23pm Jan 22, 2019 4:23pm
Quoting RickM
{quote} Exhaustion zones leads to rejection price action signals which is your signal to trade. Look at the wicks in relation to its close
What is exhaustion zones? The market can go way higher than that or stop before or at whatever zone you draw on your chart.
When you see it, BET big.
  • #155
  • Jan 22, 2019 4:24pm Jan 22, 2019 4:24pm
Quoting jmtini
{quote} Rennaissance have you ever had a buy/sell stop that you set at a perfect spot and price action grabs it but moves off in the opposite direction in a big hurry? Or have you had a limit order at say xx99 and price reaches xx9880 - not quite reaching your limit by fractions of a pip before rushing up or down again? it's happened to me so many times I've lost count! Need I say more? (If you haven't then you've never traded the forex market!)
It is nothing personal, just part of the randomness. Eventhou, you won't feel that way and will personalize it.
When you see it, BET big.
  • #156
  • Jan 22, 2019 4:27pm Jan 22, 2019 4:27pm
Quoting Hutch
Renaissance please take a look at the video at post #119. It is from nononsenseforex. If you want to retrain your brain to trade the daily chart you might want to join that group. I also believe that the big banks are the enemy of retail traders. It's much easier to trade daily charts 10 minutes a day than trade for hours on a 5-minute chart.
Trading the five minutes chart is suicidal , too much transaction cost. I think you should take 1-3 trades a day. Day trading doesn't mean trading all day but trading at key moments during the day. Aside that I trade the Eur/usd chart and for the moment I don't like what it is doing.
When you see it, BET big.
  • #157
  • Jan 22, 2019 4:50pm Jan 22, 2019 4:50pm
Quoting Rennaissance
{quote} Trading the five minutes chart is suicidal , too much transaction cost. I think you should take 1-3 trades a day. Day trading doesn't mean trading all day but trading at key moments during the day. Aside that I trade the Eur/usd chart and for the moment I don't like what it is doing.
Me and George trade the 1 minute chart and very profitable. I was trading the 5 minute chart last year but far too slow.
You asked about Exhausion zones, it’s just price action movement. Look at the wicks and wait till a reaction occurs which is often a strong move with intend that closes near its wick
Trading thin liquidity at the boundary of the charts
  • #158
  • Jan 22, 2019 5:07pm Jan 22, 2019 5:07pm
Quoting RickM
{quote} Me and George trade the 1 minute chart and very profitable. I was trading the 5 minute chart last year but far too slow. You asked about Exhausion zones, it’s just price action movement. Look at the wicks and wait till a reaction occurs which is often a strong move with intend that closes near its wick
hello Rick M can you show example,please?
  • #159
  • Jan 22, 2019 5:49pm Jan 22, 2019 5:49pm
Quoting ficibald
{quote} hello Rick M can you show example,please?
I am on my phone but here is two snaps oh GU from this morning.
Chart 1 - see the rejection of price in the extended wicks, this is price taking supply from unopened orders in this area. Probably stop losses.
So I would be patience and see what occurs but I am looking for a big final spike which is the big players stop hunting probably.
Chart 2 - Here it is, a stop run and reversal which are seen on the M1 and M5 charts. These spikes are the money earners for your broker and yourself if you take the reversal now.
Attached Image(s) (click to enlarge)
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Trading thin liquidity at the boundary of the charts
  • #160
  • Jan 22, 2019 5:51pm Jan 22, 2019 5:51pm
I need to talk to George but my guess is he is hunting for these spikes on GU and GJ
Trading thin liquidity at the boundary of the charts
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