(binned per thread starter’s request) My gambling trades

Hi Could you please PM me. I would like to ask you few things

Hi emicovi, I don't do pms for obvious reasons.
If you have questions that you think I can help, post here. I try my best.

hey skyway

i have a question too, but i'll need 5 years to write it down. just hold on ok?

Since it seems you are a great trader and know how to profit from markets I was wondering if you could help me to understand how to trade profitably. I’m 23 years old and I’m studying forex trading for more than 2 years now but I still have problems and no strategy that works. If you could put me on the right path I will be grateful to you.

I am NOT a great trader. I am just another trader.

You pose the million dollar question that makes it difficult to give you a direct answer. As I said, I try to help.

You said after 2yrs studying forex trading you still have problems and no strategy that works.

That's honesty right there. You have taken the all important step to be ahead of the crowd.

Chin up young man. There are plenty of veterans who are in the same position. They are much worse than you in that they don't have your honesty.

I can't give you the answer you want, it's not possible.

What I can do is to point you to 2 threads that might help you in your quest to be a trader.
I am not saying this is the answer. These 2 threads can help shape your expectation in the proper way.

https://www.forexfactory.com/showthread.php?t=557181

https://www.forexfactory.com/showthread.php?t=514163

and,

this poster who has left the forum

https://www.forexfactory.com/copernicus

Since you are active on this euro dollar only thread, I have this controversial comment to make for your benefit. Since I have to make it public as that's the only way we communicate, there can be repercussions - I accept that.

For your personal benefit, look at all those guys do on that thread and you see it as something you DON'T do. Learn from them how NOT to trade. Even if their trades were profitable by hundreds of pips.

It feels nice and secure to be part of the crowd.
However, it's this mentality that stops you from improving.
What you can do is to find out why you should not be part of the crowd.
This I can't do for you, you have to do it for yourself.
When you can justify to yourself why you chose not to be part of the crowd, it is the day you have learnt to trade forex.

***digger do make sensible posts.

I hope my answer is of help to you. Cheers

Skywaaaaayyy good lluck with your journey. it all starts from gambling.

LongBTC, the core issue in this discussion is prioritising targets over spikes or spikes over targets.

There is no right or wrong in either approach. What each trader choses goes down to his trading psychological need that seperate their individual decision.

Trader1 choses target over spike because he wants to know the reason behind the spike, ie. targets. Where there is spike without target he can't consider this a purpose filled MM manipulation because it does not fulfil this narrative. This is usually more appealing to levels trader, the traditional support and resistance or supply and demand which is important to him.

Whereas the spike trader2 psychology does not have this requirement of targets rendering them less important in his decision making. Such traders are visual by nature that they recognise spikes as a standout pattern on their charts. Notice that such traders rely on momentum to navigate spikes rather than rely on absolute targets.

There is always the key parameter that our psyche trust, targets or levels or momentum or whatever each trader feels comfortable with.

The lesson to learn from this is there are two large pool of traders with different psychological mindset, we learn that from our experiences with the market. The bad experiences are the ones that cause this ingrained psychological setting. In short, FEAR has taught us how and why we should approach this market. And individually, we respond differently to the pain of hard lessons the market throw at us. The result is the hard stance that each trader believe he is right and the other is wrong.

What is good tradable set up for one trader is risky to another trader, vv. From a practical standpoint what is simple to one trader is tedious to another, vv.

When in fact both factions are not exactly correct or wrong when you consider that the market has no appreciation for our psychological setting, it does it's usual thing with no care for what the traders psychology prefers.

Look at your cadchf chart again. The end result is the market kept rising to the real intended target. The key word is rising market. Yes it touches "targets" along the way. Yes there are "spikes" along the way.

Have the trader considered to look beyond historical "target" and visual "spikes", try analyse or rationalise the market outside of what the psychological lessons that fear has taught us ?

That explains for why in one of my earlier post I wrote I do not trade targets, spikes, or bands, they are secondary consideration - risking another controversy hopefully nobody jump at me. To me they form part of the journey of the market. Imho

https://www.forexfactory.com/showthread.php?p=12352637#post12352637

For practical application AJ lower target for the past 2 days is 74.52(74.58) and 74.34(74.42). Anything below is outside the scope of the move from hindsight. Look at the chart, is it a dropping market or rising market to you ? How do you "see" the market in real time ? How different is the actual market to what you "see" in real time ?

If it is a dropping market with bottom targets below you will be looking for top target spikes to short. If it is a rising market with top targets on top you will be looking for bottom target spikes to go long. How your psychology is set up by fear dictates the way the trader "sees" the market, that will be right to him.

That's why there will always be contending groups, each one very steadfastly adamant they are right and all others wrong. Whereas there is only one universal market that we trade, that is the only right.

To get ourselves to rewire our psychology to focus on the real market is very difficult, impossible to us.

We have to look at how we psychologically "see" the market. Identify the wrong. Focus on the wrong. Understand and appreciate how we are psychologically set up. That's what each of us need to "see" as a starting point.

This is the hardest part in our trading journey. Our huge ego gets in the way and our psychological set up taught by fear prevents us from seeing our wrong. Combine both and throw in "we are the best trader on the planet" in few cases, we are totally convinced we are right, no chance for us to be wrong. Because we individually have checked and rechecked that we are right. Those other guys has to be wrong. And the debate goes on and on....

https://www.forexfactory.com/showthread.php?p=12352646#post12352646

So many useful tools are created recently. So rolled up my sleeves to do some work see if I can extract the best from what's available. Here's the output to select only the best signals against the backdrop of r4m spikehunter for comparison.. The potential is great for EA isn't it?

GU, one reliable signal is all that's required.

Indeed - and a KISS chart with standard MT 4 indys tells the tale too

Hi Islander, I trade a KISS chart too on my phone.
I am trying to create a EA to trade the same way I trade manually. I created the signal alerts but there are still discretionary elements that filter good and bad signals that needs to be automated which proves tricky to achieve although it may seem simple on the surface. It's a case of so near yet so far still.
I have my work cut out for me.

OK - I only trade Dax & Dow, live in a small chat - sufficient points available from these in the hours I choose to trade.

We have a trade management EA, but not tried - recently - to create a trading EA. Good luck with yours

Took this trade at Open of NYSE for +47 points, then bought for +20 - choppy PA since in mid range so waiting for an extreme - or going for a swim - 36º here.

Spent 2 days cleaning up to make the signals more reliable.

We trade the same set up.

Just that now I try to automate the signals which is almost done, and then the next harder step is to automate the trade.
That will allow the bot to trade this same set up for a lot of pairs at one go.
The bad news is there is still a lot of work to be done yet.

Combination of liquidity gap, BD and Nih sweetspot.

Trade BD and ADR at touch of mid-line.

Sniper selection of BD, ADR signals filtered by TrendDirection&Force indicator.
https://www.forexfactory.com/showthread.php?p=12368854#post12368854

Exit strategy for close beyond BD mid-line with mtf accelerator.
https://www.forexfactory.com/showthread.php?p=12369211#post12369211