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Trading Made Simple 140,491 replies

Trading Made Simple the right way, and other trading lessons 324 replies

Spoof's Trend, Level, Signal Trading Journal 109 replies

Trading Made Simple Charts Journal 2 replies

Attachments: Spoof's Trading Made Simple(r) Journal
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Spoof's Trading Made Simple(r) Journal

Quoting TheSpoof
{quote} Looks good. Price sure isn't doing much at the moment. What are the settings on your PSAR?
Step 0.05. Not sue if it's the best setting, still testing it out. How about yours?
Quoting TheSpoof
{quote} Did you inquire in the platform tech section?
Just did at one of the popular threads. Hopefully someone kind enough to help out
Quoting martbac
{quote} Why don't you use the stochastics and RSI as per TMS(r) template? Thats what I am using. Regards, Mart.
I'm using that at the moment, just thought the histogram is easy for the eyes than 3 lines
Quoting EstherYim
{quote} I'm using that at the moment, just thought the histogram is easy for the eyes than 3 lines
Yea true, let me know if you get it please.
Quoting 40PipsAlan
{quote} Usd/jpy Yeah stupid me followed everyone else in going long on this one. Should have done what I said I was going to do and leave it alone. Stopped out at 1R

Sorry for the late reply. I will not time to respond in a day.
Anyway, did you make money AUD USD. I looks like it moved only 1R
Quoting ababias
{quote} Sorry for the late reply. I will not time to respond in a day. Anyway, did you make money AUD USD. I looks like it moved only 1R
Lost on usd/jpy Stoploss 1R. Can’t all be winners and trail stop on Aud/usd. I will just check on how much it went to. Made about 6 pips on that one, better than losing I guess.
Quoting TheSpoof
{quote} I wouldn't have my stop trailed that tight on your EURAUD trade. I would be just a tad above break even right now. You could easily get stopped out being that tight.
I almost got 2R. I was at work so did the best to achieve the target of 2R.
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Quoting carmelina
Traded NZD/JPY on a demo account and went according to plan. Next step I have to take the right lot size. I have a position size calculator and I think I will use it next time. Thanks, TS. I appreciate your helpfulness. {image}
I think the signal candle is one candle before as you indicated. You might have entered till the oscillator turned red.
My opinion, it may not be the case especially if you are entering a continuation trade.
Today morning, not much movement as there are no signals. Guys, just have patience you will have your luck.
Do break your head and try to over-analyze the charts it will hurt. Follow the simple rules.
These are most potential trades now imo, put red lines to indicate potential SL&TP levels.
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Quoting EstherYim
{quote} Step 0.05. Not sue if it's the best setting, still testing it out. How about yours?
My settings are shown in Post #1
Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
Quoting Fck9to5
These are most potential trades now imo, put red lines to indicate potential SL&TP levels. {image}
A logical place to attempt a take profit is at the next support/resistance level Whether price gets back there is anyone's guess, often it does with a retrace or two along the way depending how far that level is. I would trail a stop for sure to make sure I captured some profit if price doesn't make it and comes back. There is nothing worse than watching a target not get hit for price just to come all the way back and leave you empty handed.
Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
Pretty slow week for me. Looks like my EURUSD trade is going to be stopped out for a 0.5R loss on a trailing stop and oil is just grinding away getting close to 1.5R in profit now. No other setups are in the cards for me on the pairs I am watching. The "they" people say July an August are bad times to trade due to less activity in the markets. We will see how next month shapes up I guess
Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
Quoting TheSpoof
{quote} My settings are shown in Post #1
Ah, got it. Set the max from 0.2 to 0.5. Hope to learn more from you. Green pips
Quoting EstherYim
{quote} Ah, got it. Set the max from 0.2 to 0.5. Hope to learn more from you. Green pips
I found those to generally be the best settings to keep away from price a reasonable amount when trailing. Don't use it to set a position size with though since it is usually too far from price at the beginning of a swing to get a decent RR.
Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
TRADING TIP

Money management and position sizing is critical for long term success. If you don't have this sorted out you are as good as dead in the market. Make sure you are using a dollar amount risk that is comfortable for you and that you are getting at least a 2R potential out of your trades and consistently apply it on every trade. Here is a great article that clearly explains this concept: https://www.learntotradethemarket.co...rading-account
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Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
TRADING TIP

Has any one done any reading of the links I posted in Post#1 under the Important Reading header? If not, why not? I just re-read the one about trading being boring for the umpteenth time. Guys, it's a good habit to review articles on trading mindset frequently - practice. Instead of browsing the Systems section here looking for the next hottest strategy that you won't stick to go read an article on money management or how to strengthen your discipline when trading. These will point you in the actual direction of success. Success won't be found in a system alone guys. You need a good trading mindset first and foremost, then sound money management, then a sound method. If any one of those three is missing and YOU AREN'T APPLYING THEM CONSISTENTLY your chances of long term trading success are almost nil. I'll make it easy for the lazier amongst the group:

Why I trade a set dollar risk and not pips or percentages and why you should, too: https://www.learntotradethemarket.co...ps-risk-reward
The importance of risk management: https://www.learntotradethemarket.co...rading-account
Do you even deserve to be a trader: https://www.learntotradethemarket.co...cessful-trader
Control yourself - it's the only thing you can: https://www.learntotradethemarket.co...control-market
Stop taking so many trades: https://www.learntotradethemarket.co...uantity-trades
Protect your account balance: https://www.learntotradethemarket.co...ccount-balance
Develop a winning mindset: https://www.learntotradethemarket.co...raders-mindset
Stop thinking about the money: https://www.learntotradethemarket.co...-money-trading
Trading is a marathon not a sprint: https://www.learntotradethemarket.co...n-not-a-sprint
Boring trading is good: https://www.learntotradethemarket.co...-forex-trading
Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
As predicted my EURUSD trade stopped out for a 0.5R loss. I love to take 0.5R losses...so much better than a full 1R Price is just not moving this week at all so far that means a sweet move is around the corner...when is that corner coming is the question
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Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
Quoting TheSpoof
TRADING TIP Has any one done any reading of the links I posted in Post#1 under the Important Reading header? If not, why not? I just re-read the one about trading being boring for the umpteenth time. Guys, it's a good habit to review articles on trading mindset frequently - practice. Instead of browsing the Systems section here looking for the next hottest strategy that you won't stick to go read an article on money management or how to strengthen your discipline when trading. These will point you in the actual direction of success. Success won't...

Nial Fuller have a bunch of very good articles, very informational read, learned a lot from him. However the only thing I have my doubts on is this Fixed dollar risk management, there are contrary evidence, with mathematical models proving the fixed % method is by far superior and also protects the acc from DD.

Apart from trading Im a fulltime professional poker player, been doing this for almoust 7 years now, and we're used to work with bankroll management the same way as Nial is advocating since we have fixed buy-in levels, however to protect acc, and guarantee long-term survival, once the bankroll reach a certain point, x number of buy-ins, the player move down the stakes, the same way it works the other way around for moving up. There are other considerations to choose the proper x amount such as the game format/variance and ROI but not pertinent to the argument.

With all due respect Spoof, I rly admire your work and I'm following this thread everyday, hope you don't take this as personal, however not every trader is at the same level of competence as you are, and using such a MM could considerably increase pressure and risk in the learning phase.

Please take a read at this article, there are others refuting Nial's MM risk model here on FF too.
https://2ndskiesforex.com/trading-st...amount-better/
thinking outside the box
  • Post #199
  • Quote
  • Edited 11:00am Jul 31, 2019 10:33am | Edited 11:00am
Quoting TheSpoof
{quote} A logical place to attempt a take profit is at the next support/resistance level Whether price gets back there is anyone's guess, often it does with a retrace or two along the way depending how far that level is. I would trail a stop for sure to make sure I captured some profit if price doesn't make it and comes back. There is nothing worse than watching a target not get hit for price just to come all the way back and leave you empty handed.
exactly, I placed tp for more informative reasons and it is industrie standard, however i must say it is not about TP get reached, it is all about controlling risk and if you do it efficiently you will grow capital no matter what is your TP level. And you dont need to limit yourself to 2 RR, just control the risk and you can get 3-4-5-6-7 RR trades. For example i like to move my stops to BE when price goes in my preferred direction, after that if there is some potential risk areas, like S/R, i like to take out profits partially and let the other half of the lots run, so you dont end up with empty hands.
Quoting Mercennary
{quote} Nial Fuller have a bunch of very good articles, very informational read, learned a lot from him. However the only thing I have my doubts on is this Fixed dollar risk management, there are contrary evidence, with mathematical models proving the fixed % method is by far superior and also protects the acc from DD. Apart from trading Im a fulltime professional poker player, been doing this for almoust 7 years now, and we're used to work with bankroll management the same way as Nial is advocating since we have fixed buy-in levels, however to...
Nothing taken personally at all - thanks for your post. I have explained my reasons for using a fixed dollar risk (via Nial's article) and I am well aware of the arguments for a percent risk - no need to hash it out (I have read that article before). Traders are free to manage their risk how they choose I am simply sharing what I do and how I am finding success and profit in the market.
Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
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