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Daily Trading Ideas

  • #14,821
  • Apr 21, 2019 6:29am Apr 21, 2019 6:29am
Quoting navk
{quote} I do not think so. what one needs is capital, some tech. system , self discipline and most importantly confidence. Assume capital is 10k. What one needs to concentrate is just 2 % every day consistently. See the result after 50 weeks. Even I can make 50 % of what is projected I am more happy. 50 % of projection is around 625k. see the attachment. I am using this format already. 3 weeks finished 47 more weeks to go. Do not ask me if my capital is 10 k. It is much more. {file}
I have been trading forex for 13 years and I have never been able to achieve a 2% return consistently every day. Is it because I don't have the best trading system? Yes, I'm sure I don't have the best trading system but who knows what the best trading system is? The answer is nobody knows because there are hundreds of good trading systems. Unfortunately only crooked advertisers state that their trading systems are the best thus misleading traders in buying their crap. On the other hand, I agree with you that you need self discipline and confidence. Capital is not as important since with a good system any trader can grow his/her account. Looking at your spreadsheet I think that the goals indicated are too optimistic because the daily growth target is always increasing. Attached is the spreadsheet of the symphony system that has been computed on the basis of a 5% return per week with lots based on the account ratio system (ARS). As you can see the account balance on your spreadsheet is $1,279,505 after 50 weeks while it's only $114,674 after the same period. Please let us know your result after the 50 weeks trading has passed and, if you don't mind, post the exact system you are using if it is doesn't follow Akim' system to the letter. In any case I hope that you will totally achieve the goal shown in your spreadsheet.
Attached File(s)
File Type: xls Symphonie System Weekly Growth Plan -5%.xls   76 KB | 267 downloads
  • #14,822
  • Apr 21, 2019 6:54am Apr 21, 2019 6:54am
Quoting astonbraham
{quote} For now i only took high risks on demo accounts small account with high risk get blown fast I’m not yet as skilled and courageous as You and other great traders on this thread i will do so when i get as skilled as you
try to avoid demo account mate
its will kill your confidence n courage from inside you when you trading real money/account..️
just for a cup of coffee...
  • #14,823
  • Apr 21, 2019 7:25am Apr 21, 2019 7:25am
Quoting akim0895
{quote} try to avoid demo account mate its will kill your confidence n courage from inside you when you trading real money/account..️
Yep so true - I've been trading since 2011 and can confidently say that demo trading is completely different to trading live!

Guys in 8 years there are two things I've identified that regularly kill small forex traders like us. One is FEAR and the other is HOPE

FEAR - fear of loss so we don't allow a winning trade to develop to the point where it can achieve a really good profit - this is VITAL because it allows one to expose oneself less to the dangerous and essentially unpredictable market - thus significantly reducing risk - Everytime one opens a new trade you are immediately losing money (spread and commission) and the risk is that you have entered on the wrong side thus losing more money! Using a SL is good but recovering the money lost can be difficult and stressful. You have to recover that lost money before you are making a profit again. If the next trade is wrong, one is in a losing cycle which can be very difficult to break unless one over-leverages which opens up even more risk!

HOPE - hoping that a trade in the red will turn eventually into profit. Unless one is a very experienced trader like Akim this is an extremely dangerous thing to do. CUT A LOSING TRADE AS EARLY AS POSSIBLE AND PRESERVE YOUR ACCOUNT BALANCE. Follow your trade initially on M1 or M5 so that you can be sure you're on the right side of the trade from the very start.

This I believe is where a good trading system/strategy comes in which opens a trade WITH momentum and with the trend. If the trend is strong, price will not come back to that opening position for days or even for weeks! So why close the trade early? That is a fundamental mistake that we all tend to make time and time again.
  • #14,824
  • Apr 21, 2019 7:44am Apr 21, 2019 7:44am
Quoting Mtinifx
{quote} Yep so true - I've been trading since 2011 and can confidently say that demo trading is completely different to trading live! Guys in 8 years there are two things I've identified that regularly kill small forex traders like us. One is FEAR and the other is HOPE FEAR - fear of loss so we don't allow a winning trade to develop to the point where it can achieve a really good profit - this is VITAL because it allows one to expose oneself less to the dangerous and essentially unpredictable market - thus significantly reducing risk - Everytime...

So I suppose it's really all about trading WITHOUT emotion! Allowing emotions to interfere with your trading strategy is a recipe for disaster

get robotic - open a trade with 5 pip SL. Your SL is hit and you're out. Next trade, 5 pip SL and it's hit and you're out. Next trade 5 pip SL and it's not hit, good momentum and you get 30 pips. You're up 20 pips. Next trade 5 pip Sl and it's hit and you're out. Next trade 5 pip SL and it's not hit and you get 20 pips. You're up 35 pips. ROBOTIC!!

Sorry, the above scenario is in a week, not in a day - your system should be throwing up 5 or 6 good trading opportunities per week NOT per day!!

  • #14,825
  • Apr 21, 2019 7:49am Apr 21, 2019 7:49am
Quoting Mtinifx
{quote} So I suppose it's really all about trading WITHOUT emotion! Allowing emotions to interfere with your trading strategy is a recipe for disaster get robotic - open a trade with 5 pip SL. Your SL is hit and you're out. Next trade, 5 pip SL and it's hit and you're out. Next trade 5 pip SL and it's not hit, good momentum and you get 30 pips. You're up 20 pips. Next trade 5 pip Sl and it's hit and you're out. Next trade 5 pip SL and it's not hit and you get 20 pips. You're up 35 pips. ROBOTIC!! ...
️
just for a cup of coffee...
  • #14,826
  • Apr 21, 2019 8:01am Apr 21, 2019 8:01am
Quoting akim0895
{quote} try to avoid demo account mate its will kill your confidence n courage from inside you when you trading real money/account..️
You’re right Akim! I agree with you!
For me, demo is the place where I try to regain lost confidence after repeated successive losses on my real account
Will try to avoid it, Thanks once again for your advice mate
️️️
  • #14,827
  • Apr 21, 2019 8:05am Apr 21, 2019 8:05am
The inner 2 demons one have to fight against ��

Quoting Mtinifx
{quote} Yep so true - I've been trading since 2011 and can confidently say that demo trading is completely different to trading live! Guys in 8 years there are two things I've identified that regularly kill small forex traders like us. One is FEAR and the other is HOPE FEAR - fear of loss so we don't allow a winning trade to develop to the point where it can achieve a really good profit - this is VITAL because it allows one to expose oneself less to the dangerous and essentially unpredictable market - thus significantly reducing risk - Everytime...
  • #14,828
  • Apr 21, 2019 8:15am Apr 21, 2019 8:15am
That’s so true!
I still think that having less entries a week slows down the learning curve of one that s still trying to find his edge
I may be wrong too


Quoting Mtinifx
{quote} So I suppose it's really all about trading WITHOUT emotion! Allowing emotions to interfere with your trading strategy is a recipe for disaster get robotic - open a trade with 5 pip SL. Your SL is hit and you're out. Next trade, 5 pip SL and it's hit and you're out. Next trade 5 pip SL and it's not hit, good momentum and you get 30 pips. You're up 20 pips. Next trade 5 pip Sl and it's hit and you're out. Next trade 5 pip SL and it's not hit and you get 20 pips. You're up 35 pips. ROBOTIC!! Sorry, the above scenario is in a week, not in a...
  • #14,829
  • Edited 8:59am Apr 21, 2019 8:37am | Edited 8:59am
Quoting astonbraham
{quote} You’re right Akim! I agree with you! For me, demo is the place where I try to regain lost confidence after repeated successive losses on my real account Will try to avoid it, Thanks once again for your advice mate ️️️
i never ever trading at demo account since 1st day i’m a trader..
my friend teach me only trading at real account..
we still can placing small lots like 0.01/02 lots
when play with small lots so can set for big sL
like 50-100pips if want to test a system or indi..
important is..trading with real money/accounts
learn to absorb the pressure or loss from its mate
that we need to fight before take another step foward ️
just for a cup of coffee...
  • #14,830
  • Apr 21, 2019 9:42am Apr 21, 2019 9:42am
All right !
Thanks mate

Quoting akim0895
{quote} i never ever trading at demo account since 1st day i’m a trader.. my friend teach me only trading at real account.. we still can placing small lots like 0.01/02 lots when play with small lots so can set for big sL like 50-100pips if want to test a system or indi.. important is..trading with real money/accounts learn to absorb the pressure or loss from its mate that we need to fight before take another step foward ️
  • #14,831
  • Apr 21, 2019 10:43am Apr 21, 2019 10:43am
Quoting mclement
{quote} good idea 1. do u use MA ROUND CHANNEL INDICATOR ?
I have MA channel indicator in my system, but I do not much rely on it.

I take trades based on daily support/resistance pivot and hourly support/resistance only.
Intraday only.
  • #14,832
  • Apr 21, 2019 11:03am Apr 21, 2019 11:03am
Quoting Hutch
{quote} I have been trading forex for 13 years and I have never been able to achieve a 2% return consistently every day. Is it because I don't have the best trading system? Yes, I'm sure I don't have the best trading system but who knows what the best trading system is? The answer is nobody knows because there are hundreds of good trading systems. Unfortunately only crooked advertisers state that their trading systems are the best thus misleading traders in buying their crap. On the other hand, I agree with you that you need self discipline and...
I do not think anyone can get a best trading system from net or from sellers. . It is obvious.

Consistent 2 % every day may not be possible, but average 2 % ? Having said that, one should start withdrawing amounts regularly to take back the capital invested.

For me, I have been getting regular returns without a goal.

Now I started using this spreadsheet for the last 3 weeks which I posted

My confidence level is high and I wish to make "impossible"as possible.

Let us see.

I have the confidence.
I have good capital in my account.
I have self discipline.

I do not have definitely best systems, but have good tips to make enough $$$$$$ every day. Unfortunately I do not have a system to capture pips. yes. This is where many traders make mistake I guess.

WHAT is important ? $$$$ or pips ?

If you want to make $$$, you need tips.

If you want to make pips, you need system.

who is having best trading system on earth?

Banks, Hedge funds follow systems? I do not know and not sure either.

It is the money power that makes them success and different from traders like us.

My 2 cents.
Intraday only.
  • #14,833
  • Apr 21, 2019 11:13am Apr 21, 2019 11:13am
WHAT is important ? $$$$ or pips ?

both

but if you have a good trading system and patience , they will come both
  • #14,834
  • Apr 21, 2019 11:16am Apr 21, 2019 11:16am
Quoting MXT
WHAT is important ? $$$$ or pips ? both but if you have a good trading system and patience , they will come both
no. In my opinion, we need $$$ not pips.

Trading system? consisting of macd, MA, RSI etc? Garbage for me.

Patience, yes, needed, which I do not have. But trying to learn the patience from AKIM.

He is master in that.
Intraday only.
  • #14,835
  • Apr 21, 2019 11:39am Apr 21, 2019 11:39am
Quoting navk
{quote} no. In my opinion, we need $$$ not pips. Trading system? consisting of macd, MA, RSI etc? Garbage for me. Patience, yes, needed, which I do not have. But trying to learn the patience from AKIM. He is master in that.
sure , but the $$$$ must come from gained pips

with your gained pips you can build your own capital

pips and $$$$ go hand in hand
  • #14,836
  • Apr 21, 2019 11:42am Apr 21, 2019 11:42am
Quoting MXT
{quote} sure , but the $$$$ must come from gained pips with your gained pips you can build your own capital pips and $$$$ go hand in hand
ok. true, but you did not get my point.

time will tell you.
Intraday only.
  • #14,837
  • Apr 21, 2019 11:48am Apr 21, 2019 11:48am
i did get your point , it's between those lines

" who is having best trading system on earth?
Banks, Hedge funds follow systems? I do not know and not sure either.
It is the money power that makes them success and different from traders like us. "

but the discussion would be too long , so that's ok
  • #14,838
  • Apr 21, 2019 11:55am Apr 21, 2019 11:55am
Quoting MXT
i did get your point , it's between those lines " who is having best trading system on earth? Banks, Hedge funds follow systems? I do not know and not sure either. It is the money power that makes them success and different from traders like us. " but the discussion would be too long , so that's ok
simple. look for a place to enter a trade which will give you 2 % of your capital. 2 % achieved, get out of trade.

You will definitely find a place everyday to enter into a trade to make 2 %.

It is only the greediness or impatience that leads us to fall.
Intraday only.
  • #14,839
  • Apr 21, 2019 12:14pm Apr 21, 2019 12:14pm
Quoting navk
{quote} I do not think anyone can get a best trading system from net or from sellers. . It is obvious. Consistent 2 % every day may not be possible, but average 2 % ? Having said that, one should start withdrawing amounts regularly to take back the capital invested. For me, I have been getting regular returns without a goal. Now I started using this spreadsheet for the last 3 weeks which I posted My confidence level is high and I wish to make "impossible"as possible. Let us see. I have the confidence. I have good capital in my account. I have self...

Banks/Hedge funds uses Monthly/Daily technical Chart to predict next swing. approx. 90% they are right but if things goes wrong then hedging kicks in.
No loss but you have to wait months/years to TP which is frustrating for individual trader.

Akim's method is fantastic but sometimes trade stucks and you close that BE or small profit. again you can't meet daily profit until you get rid of bad trades.

NavK method is one pair and open hedge trades with daily/hourly r&S. You are using MT5 & I got your indicators including pivot+daily/hourly R&S and you open multiple orders as per PA and close all when retrace and start fresh. correct me akim/navk if I was wrong about your method as i'm still learning from you BOTH .
  • #14,840
  • Apr 21, 2019 12:18pm Apr 21, 2019 12:18pm
hi - If we could make 2% every day for a year, say 40 weeks a year - 5 days a week. If we started with 1K we would have at the end of the year over 52K. Not bad!!!
Don't trade what you think. Just what you see!!!
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