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The Secret to Success and profitable trading - What is it?

  • #61
  • Aug 21, 2019 9:56am Aug 21, 2019 9:56am
If you know how to trade, you only place trades when there is a huge % of chance of going in your favor in a consistent, exploitable, repeteable, identical market conditions. And yes they exist and present over and over again


"hedging" its just a crutch for a fail market reading skills.. hoping for the best.. hedging for the worst.. period
  • #62
  • Aug 21, 2019 10:53am Aug 21, 2019 10:53am
Quoting havo
If you know how to trade, you only place trades when there is a huge % of chance of going in your favor in a consistent, exploitable, repeteable, identical market conditions. And yes they exist and present over and over again "hedging" its just a crutch for a fail market reading skills.. hoping for the best.. hedging for the worst.. period
I fully agree with this but if you also know how to trade and hedge properly unlike the conventional methods then you can turn the very few losing into profit or worst case break even.

What I do is 2/3 trades out 10 may go into small drawdown. Hedging is very powerful. Most successful traders Hedge and don’t use stop losses.

Nothing wrong with either it’s personal choice.

I dont hedge and hope. It’s done wry effectively
  • #63
  • Aug 21, 2019 10:58am Aug 21, 2019 10:58am
Quoting Daniel2775
Hi, i am basically starting this thread after leaving forex factory for a few weeks to focus on my own trading. The point of the thread is to help traders new and old understand an edge in the market. Unfortunately too many new traders fall into a trap and lose all there savings before they actually understand. The market is manipulated and if you understand how you can use it to your advantage. Thanks To George AUS/ Andy do I start.
Hi Daniel,

Thanks for starting this. I'm sure it will help me and others too.
-happyTrading-myFx.
  • #64
  • Aug 21, 2019 11:54am Aug 21, 2019 11:54am
Quoting Daniel2775
{image}
This image tells everything. Thanks.

Keep up the good work
-happyTrading-myFx.
  • #65
  • Aug 21, 2019 2:35pm Aug 21, 2019 2:35pm
Hi Daniel,

interesting topics, looking forward for more information.

cheers
Alexey
  • #66
  • Aug 21, 2019 2:45pm Aug 21, 2019 2:45pm
Quoting havo
If you know how to trade, you only place trades when there is a huge % of chance of going in your favor in a consistent, exploitable, repeteable, identical market conditions. And yes they exist and present over and over again "hedging" its just a crutch for a fail market reading skills.. hoping for the best.. hedging for the worst.. period
The only reason of hedging which I understand is to try making better statistics and good looking balance curve if trading for external investors. In other case additional spreads and swap. Actually never seen good explanation of reasons for hedging applying.
  • #67
  • Aug 21, 2019 4:51pm Aug 21, 2019 4:51pm
Quoting myfx
{quote} Hi Daniel, Thanks for starting this. I'm sure it will help me and others too.
  • #68
  • Aug 21, 2019 4:52pm Aug 21, 2019 4:52pm
Good night all/ new topic point coming tomorrow. Following on from today

thanks
  • #69
  • Aug 21, 2019 4:54pm Aug 21, 2019 4:54pm
Guys every picture I post is a clue and hint Into trading tips and hints in general. Look closely as they all apply.
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  • #70
  • Aug 21, 2019 4:57pm Aug 21, 2019 4:57pm
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  • #71
  • Aug 21, 2019 5:05pm Aug 21, 2019 5:05pm
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  • #72
  • Aug 21, 2019 5:11pm Aug 21, 2019 5:11pm
Quoting Daniel2775
{quote} Ok, I’ll bite. What I have done in 1.5 weeks is taken a £200 account and turned it to £800. Then from there I have created an ea to trade as I do with a 10-17% DD and 900% gain over an 18 month period. See below what i have also done is secured funds funds from investors to trade manually for them. I now make a good enough living to be able to travel and trade which was my dream. If I’m honest I’m really not bothered about your ego and will no longer respond to your pointless comments. Maybe find something constructive to do with your time....
Where is the EA....magic Daniel?
Attached Image
Vucking good EA coder... https://t.ly/AZjRM
  • #73
  • Aug 21, 2019 5:13pm Aug 21, 2019 5:13pm
I m just interested...this is hedging with a variant of georges strategy?
Vucking good EA coder... https://t.ly/AZjRM
  • #74
  • Aug 21, 2019 5:14pm Aug 21, 2019 5:14pm
Quoting Daniel2775
{quote} The point is there isn’t a holy grail. There are small secrets that people keep close to them. But the the holy grail is your mind as a trader
there is a holy grail mate its called learning and understanding how the market works , there is a lot to learn so it does take a while
people leave, but this thread will go on for ever
  • #75
  • Aug 21, 2019 10:17pm Aug 21, 2019 10:17pm
Quoting Daniel2775
Guys every picture I post is a clue and hint Into trading tips and hints in general. Look closely as they all apply. {image}
Nice thread Daniel.

I wish you all the best with it and your trading.

I remember this conversation from the movie much more for the references to cocaine and masturbation.
Empty your mind and let the market guide you
  • #76
  • Aug 22, 2019 12:44am Aug 22, 2019 12:44am
Hi Daniel -- I'm interested in following your thread.

In your opening post you give thanks to Steve Bluesteele -- but @bluesteele's first name is Kevin. I'm Steve, and I'm guessing you probably don't want to give me too much credit.

I'm here to learn about your perspective on trading. I might ask a question or two, but mostly I'll remain in the background taking notes.
  • #77
  • Aug 22, 2019 1:38am Aug 22, 2019 1:38am
Indeed everything you have mentioned is absolutely true . Forex trading is not a get rich quick scheme and one has to do a lot of research and hard work for a lot of time to start making profits from the same. Some tips i can provide to new traders here are :
Learn to trade with patience and discipline. Never rush things.
Keep emotions at bay and assume responsibility for your decisions.
Study the markets well . Always be alert to grab opportunities as and when they arise.
Set your trading goals and follow them . Formulate strategies based on your goals.
Use stop losses to mitigate risk and losses.
Practice using a demo account for as long as you want .
Do not invest irrationally . Invest only that much money which you can afford to lose.
Prefer to trade in major pairs (those involving USD ) . These pairs are liquid and offer tight sprads.
  • #78
  • Aug 22, 2019 2:09am Aug 22, 2019 2:09am
Quoting Daniel2775
Hi, i am basically starting this thread after leaving forex factory for a few weeks to focus on my own trading. The point of the thread is to help traders new and old understand an edge in the market. Unfortunately too many new traders fall into a trap and lose all there savings before they actually understand. The market is manipulated and if you understand how you can use it to your advantage. Thanks To George AUS/ Andy moodybot and Steve Bluesteele. My trading changed for the better. And since meeting these guys i myself haven’t lost a days trading...
Is it really a wise decision to leave a highly paid job for trading?
  • #79
  • Aug 22, 2019 2:30am Aug 22, 2019 2:30am
Quoting alexgvr
{quote} The only reason of hedging which I understand is to try making better statistics and good looking balance curve if trading for external investors. In other case additional spreads and swap. Actually never seen good explanation of reasons for hedging applying.
Hedging done right can protect you and not take you out of a trade then releasing one side of the hedge at your next entry will make profit one side and bring the other to profit or break even.

When you have a 80% entry it works best
  • #80
  • Aug 22, 2019 2:31am Aug 22, 2019 2:31am
Quoting reteid2222
{quote} Where is the EA....magic Daniel? {image}
Lol the ea for me only and exclusive for an investor I’m trading for.
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