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

  • #321
  • Sep 7, 2019 1:09am Sep 7, 2019 1:09am
Quoting afevir
Here I leave a few steps, they sent it to me from financialjuice, I have not read it, when I have a free time I read it, comment if you liked it http://www.tothetick.com/25RulesForD...d5189540b69330
Thanks..
will print it and read it everyday. "big hug".
  • #322
  • Edited 2:26am Sep 7, 2019 1:53am | Edited 2:26am
Quoting profitfarmer
{quote} Hi Wong, Focus on the ' target theory ' part, and try to master that. George's approach start out with the targets, first and foremost, before anything else is considered!! Walk before run.
Yes, it's all about targets. Master targets, master targets, master targets for any pairs and on all timeframes they are the same...... No need for hedge if you have mastered targets.

If you mark targets manually it can involve lots of screentime, use alerts and it becomes easy.

Can you see targets on GY last week? Everyday there are targets, focus and you will see them.
Master targets, then write code to mark them. Be boundless in your thinking.
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  • #323
  • Edited 2:40am Sep 7, 2019 2:18am | Edited 2:40am
Quoting skyway
{quote} Yes, it's all about targets. Master targets, master targets, master targets for any pairs and on all timeframes they are the same...... No need for hedge if you have mastered targets. You won't ever lose again. If you mark targets manually it can involve lots of screentime, use alerts and it becomes easy.

Not sure how marking a few lines a day is lots of screentime in itself, but whatever.
I didn't even mentioned marking.
In the end it takes two eyes ( one can do too!) and moderate understanding that why daily or weekly tops are more important than marking every single 15-min swing.
Even for scalping it isn't necessary.
In the end, my answer was to serve as a pointer. And was to point out that it isn't needed to run too fast, success can be found with even just the targets, and that George's trading always start with those.
I know there was a mention of money management in my post, and I know there was no mention of hedging.
For a reason.
The two isnt mutually inclusive. I don't use hedging normally. It is an option, a tool that is up to the trader and his trading plan to use or not.
Same with multiple entries/baskets. ( that I use, though majority of entries my are singles).
On money management I simple tried to refer to trade the way that compatible with the account size, the trading plan, and the goals; is something that can be comfortable with, and confident about.

Happy weekend!

PS.
To your edited post, and added chart.
Yes. I could!
Happened to meet with some friends, and between showing to them my beautiful city of Budapest ( where I am still having a few days vacation left until my Monday flight), I were teaching them a bit of trading too.
Both the low and the high was called "live", as well discussed "live" why to stay out around 131....where many would probably jumping in.

That said,
I don't really understand or care your mocking.
When you were pestering ppl for 10 trades, I gave you 15...
I offered you a chat to discuss trading if you wish...
And I have pretty much made posts that have trades I taken clearly marked, with all the backing up of results that they were indeed all live trades.
Miles more than your average forum person do; claiming to not want to, usually just simply unable to.
On top, I don't have anyone ignored, nor mails blocked. Always have the door open to anyone.
So, what is exactly your problem with my post?
But take it as a theoretical.
The previous post was not for you, by to someone who seemed to read some post of mine and found value in.
Nor this thread is the platform to further expand on my previous post, or this.
I didn't offer any secret to success and profitable trading in any posts.
All I have is pointed out a path that doesn't need to be excessively difficult, ie. time & square may not be factored in this time.
there is always, always another trade!!
  • #324
  • Sep 7, 2019 2:22am Sep 7, 2019 2:22am
Quoting profitfarmer
{quote} Not sure how marking a few lines a day is lots of screentime in itself, but whatever. I didn't even mentioned marking. In the end it takes two eyes ( one can do too!) and moderate understanding that why daily or weekly tops are more important than marking every single 15-min swing. Even for scalping it isn't necessary. In the end, my answer was to serve as a pointer. And was to point out that it isn't needed to run too fast, success can be found with even just the targets, and that George's trading always start with those. I know there was...
Basket entry, hedging or whatever else is secondary importance.

Master targets and logic tells you you don't need these crutches.
If you need these types of assist, you have not mastered target.
If you have mastered targets you can write code to mark them, have you ?
  • #325
  • Sep 7, 2019 2:41am Sep 7, 2019 2:41am
Quoting skyway
{quote} Basket entry, hedging or whatever else is secondary importance. Master targets and logic tells you you don't need these crutches. If you need these types of assist, you have not mastered target. If you have mastered targets you can write code to mark them, have you ?
Answered above.
Enjoy your weekend!
there is always, always another trade!!
  • #326
  • Edited 2:58am Sep 7, 2019 2:45am | Edited 2:58am
Quoting profitfarmer
That said, I don't really understand or care your mocking. When you were pestering ppl for 10 trades, I gave you 15... I offered you a chat to discuss trading if you wish... And I have pretty much made posts that have trades I taken clearly marked, with all the backing up of results that they were indeed all live trades. Miles more than your average forum person do; claiming to not want to, usually just simply unable to. On top, I don't have anyone ignored, nor mails blocked. Always have the door open to anyone. So, what is exactly...
Quoting profitfarmer
Yes. I could!
Happened to meet with some friends, and between showing to them my beautiful city of Budapest ( where I am still having a few days vacation left until my Monday flight), I were teaching them a bit of trading too.
Both the low and the high was called "live", as well discussed "live" why to stay out around 131....where many would probably jumping in.
That's your target call for GY last week. Members should look at their charts see if this is what it means by master targets.

I give you a straight forward answer to your statement in public forum. I hate to do this since you still have not figured it out yet after so long but it's time.

I will never accept your skype offer because your knowledge level is way below. I have to teach you instead in the session but MrCocky is too arrogant to learn. Live with this fact.
Happy weekend
  • #327
  • Sep 7, 2019 2:55am Sep 7, 2019 2:55am
Quoting skyway
{quote} I give you a straight forward answer to your statement. I hate to do this since you still have not yet figured it out yet after so long but it's time. I will never accept your skype offer because your knowledge level is way below. I have to teach you instead in the session but MrCocky is too arrogant to learn. Live with this fact. Happy weekend
I have long figured that you are so much better.
And I have no problem with that!
What I have a small issue to calling me mrCocky, and too arrogant to learn. Not exactly what those who actually talk to me, or met me say...
But if you claim that to be that fact, I can live with that fact too.
Happy now?
there is always, always another trade!!
  • #328
  • Edited 9:18pm Sep 7, 2019 3:03am | Edited 9:18pm
Quoting profitfarmer
{quote} I have long figured that you are so much better. And I have no problem with that! What I have a small issue to calling me mrCocky, and too arrogant to learn. Not exactly what those who actually talk to me, or met me say... But if you claim that to be that fact, I can live with that fact too. Happy now?
It's due to pompous guys like you that caused truly experienced and knowledgeable traders don't want to teach real knowledge on forums.
Why help someone like you improve ?

Think for a moment about the damage you do on forums if you even care.

That's what I want to tell you. And your friends.
Message delivered in public.

Time to disappear from forum. Goodbye, Jason

Ps, btw the lone wolf is me, no pm, no emails, no skype, no shouts, no subscription, no ignore. Now no more forum-7sep2019.
Who is the guy who walks alone that writes about weird things ?
Who is the nice guy who seeks comfort with the herd ?
Yup, learn from the "nice and sincere" guy, that's what the herd deserves.
  • #329
  • Sep 7, 2019 3:08am Sep 7, 2019 3:08am
Quoting skyway
{quote} It's due to pompous guys like you that caused experienced and knowledgeable traders don't want to teach real knowledge on forums. Think for a moment about the damage you do on forums if you even care. That's what I want to tell you. And your friends. Message delivered in public. Time to disappear from forum. Farewell
Little harsh.
Not sure everyone thinks and fully agrees with your statement.

In the meantime until your wish comes true and disappear, perhaps just ignore my posts?
there is always, always another trade!!
  • #330
  • Edited 6:50am Sep 7, 2019 4:55am | Edited 6:50am
The Secret to Success and profitable trading - What is it?

I do not write very often on FF or anywhere else but I saw this question and said to myself let's give it a try.

The answer to this question cannot be summed up in a few lines, there is a lot of detail which a successful trader takes into consideration & it takes years & years to master trading like other reputable professions, I'll try to give my opinion as briefest as possible. Also I'll attach a page from a book called "Mastery" written by Robert Greene, it has some connections with the subject.

1_Find an Edge:
Just to give an idea for a start.
*Understand how the market works, goes up & down. Find an edge suiting your personality.
*Find a new born trend. Trend started from an extreme or a trend within a bigger trend after a flag or a trading range. Wait for the pullback. As soon as u see the signs of the trend resumption jump in.
*Find momentum breakouts, the probability of trend continuation in these instances skew in the direction of the breakout. Enter without hesitation or wait for the pullback.

2_Control Your Risk:
*Find the "win rate" and "reward to risk ratio (RRR)" and the "average number of consecutive Profits/Losses" (ANC P/L) of your system.
*Calculate your risk percent according to win rate & RR & ANC P/L and your psychological comfort zone.
*You must have enough capital to employ your strategy correctly. For example if you have a 1000$ in your account and want to risk 50$ on a position if you cannot adjust your trading lotsize accordingly (with the least deviation 49$ or 51$) you do not have enough capital for that trade. This will lead to sloppy money management.

3_Other
*Write down your trading plan, in detail. What you must do in every situation.
*Discipline: Have enough will power to exert your strategy, avoiding temptations and so on. Remember you must have discipline in any circumstance.
*Series of losses are normal even for highly successful traders, 4 5 SL hit in a row is normal (depends on the trading system), go ahead.
*Try to learn trading with the least amount of money possible. If you got consistent profits on a small account, increase your capital gradually till your are in complete charge of trading & mastered this profession.
*Do not quit your 9_5 job till you are making small but consistent money.
*Take Van Tharp test to see what type of trader your are (https://tharptradertest.com/default.aspx?question=1)
*Take MBTI personality test to know what type of personality you have. Very often people with a strong F (stands for Feeling person) in their personality are not suited for any trading endeavor. Do not waste your time, your life & energy, they R really precious, you can be a master & make a ton of money or any other kind of satisfaction in another profession (there are a lot sites for this test, for example one could be this one https://personalitymax.com/personality-test/)

It is not far from truth if I would say each of the points above can be expanded and become as big as a book, there are a lot of details, it takes years to fully take in the subject if you are an intelligent guy/gal with the suited personality for this job.
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Trade Safe, Live Like a King.
  • #331
  • Sep 7, 2019 5:28am Sep 7, 2019 5:28am
Quoting profitfarmer
{quote} Little harsh. Not sure everyone thinks and fully agrees with your statement. In the meantime until your wish comes true and disappear, perhaps just ignore my posts?
Its quite easy for me that do know you PF that this guy have no idea who you are and what you can do.....
Insanityoing same ting over expecting different results..Einstein
  • #332
  • Sep 7, 2019 9:03am Sep 7, 2019 9:03am
Quoting skyway
{quote} It's due to pompous guys like you that caused truly experienced and knowledgeable traders don't want to teach real knowledge on forums. Why help someone like you improve ? Think for a moment about the damage you do on forums if you even care. That's what I want to tell you. And your friends. Message delivered in public. Time to disappear from forum. Goodbye, Jason Ps, btw the lone wolf is me, no pm, no emails, no skype, no shouts, no subscription.
Hi Jason,

I really dont get why you answered in such manner to PF ... I dont see anything offensive in his posts towards you...

I dont know PF very well, but based on my knowledge he is all the time open to discuss, share and also to learn from other traders. I do believe that his invitation to skyle was sincere, without any shadow of sarcasm or patronizing attitude.

I think maybe you should take a vacation in a sunny place, because it seems that the lack of sun does affect you.

Cheers,
B

PS and please, stop with these endless goodbyes...
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #333
  • Sep 7, 2019 4:47pm Sep 7, 2019 4:47pm
Quoting skyway
{quote} It's due to pompous guys like you that caused truly experienced and knowledgeable traders don't want to teach real knowledge on forums. Why help someone like you improve ? Think for a moment about the damage you do on forums if you even care. That's what I want to tell you. And your friends. Message delivered in public. Time to disappear from forum. Goodbye, Jason Ps, btw the lone wolf is me, no pm, no emails, no skype, no shouts, no subscription.
Calm down. You are the one that is too pompous with your imperious writing
  • #334
  • Sep 9, 2019 3:54am Sep 9, 2019 3:54am
Quoting Mingary
{quote} https://www.forexfactory.com/showthr...0#post12356240 "I am letting my Trades run over the weekend.Holding all my AUD trades with 27k free margin I feel comfortable." There are other posts similar to this one ... 27K free margin on a 100k + account That is 70k + in market positions .. Long some AUD pairs like AUDJPY starting in may .. his AUD trades are long trades, there are others, perhaps some winners in the lot as well. But the ship has been sinking for a while IMO
the most active amateur on forex factory is silent (again) after proclaiming shorting rallies on pound. that was the last hit that broke his neck. well deserved - an antisemitic, racist trump fan turned into a whining trade war loser.

the inevitable "accident" in form of a margin call finally happened. there had been two near margin call events in 2019 - third time is a charm.
he had been jobless in 2016. he had been a sportsbook gambler before and had a union job afterwards, struggling to refinance his ninja-loan like mortgage.
free of any professional background, he started another thread with another "method". all former tries failed, and so did the last one.

not one single follower of his pivot gambling thread is in a position to show steady positive outcomes, but all of which with a te showing huge drawdowns.
it will be funny to see him back with another soap story, most likely someone has died and he was so depressed of it he could not trade, but now all is well... and the sheep will swallow that lie, because they want to believe there is an amateur like themselves that made it from jobless to wealth by trading forex while being a wage slave with a nine-till-five job. foolishness know no bounds.
fortis fortuna adiuvat
  • #335
  • Sep 9, 2019 3:24pm Sep 9, 2019 3:24pm
Quoting TP Hunter
The Secret to Success and profitable trading - What is it? I do not write very often on FF or anywhere else but I saw this question and said to myself let's give it a try. The answer to this question cannot be summed up in a few lines, there is a lot of detail which a successful trader takes into consideration & it takes years & years to master trading like other reputable professions, I'll try to give my opinion as briefest as possible. Also I'll attach a page from a book called "Mastery" written by Robert Greene, it has some connections with the...
Thank you for sharing your thoughts and the page from “Mastery”. Appreciated!
“The waiting is the hardest part” Tom Petty
  • #336
  • Sep 10, 2019 8:05am Sep 10, 2019 8:05am
Quoting Daniel2775
Ok guys been off for a few days moving home and busy trading I can say for a fact that all this negativity is not why I started the thread. And to be honest I have no need to make money selling my system as I make money from trading full time as it is. The people that say it’s not possibly to make it are the ones that are very bitter and have lost much money. It’s a fact that retail traders can make money because I personally speak to select few and I have them as mentors myself. Im going to think about if I’m even coming back to forex factory as...
the thread subject and your intentions are good but there learned nothing from it.
too much empty talks
  • #337
  • Sep 10, 2019 5:59pm Sep 10, 2019 5:59pm
I think Daniel might trade like the 4 charts attached - GBUSD goes in the opposite direction to EURGBP. It helps to improve timing a lot and gives you an idea if the targets will be broken on the 15 minute chart. The dotted blue line 320 SMA - one is sloping up and one is sloping down on the 15 minute charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP FF (1).png Size: 122 KB
Click to Enlarge Name: GBusd FF (2).png Size: 135 KB
  • #338
  • Sep 13, 2019 12:42pm Sep 13, 2019 12:42pm
Quoting alphaomega
There is no such thing as "THE secret" to success. There are MANY secrets. Countless secrets. Of course, You don't need to know all of them to beat the market but....you have to know a lot. For the most part, success in trading is the result of smart work (not hard work) and a bit of luck. https://www.youtube.com/watch?v=O5EsNV-gyr8
You do need only one. There is a very simple one. As simple as this example...
Maadik Hugiis. IQ 69.
  • #339
  • Oct 1, 2019 7:48pm Oct 1, 2019 7:48pm
Quoting RickM
{quote} Yes, hedging if you scalp allows a second chance on a basket, kind of like a get out of jail free card. ONE method I use is to simply hedge at 10 pips when I am scalping. If I am wrong, the next trade I double my trade size and just aim for 10 pips. This way I end up 10 pips in profit after closing all trades. Now if I am wrong again, I repeat this process. So say first trade is 0.10, basket two is 0.20 and if need basket three is 0.60. So for me to lose, I need to be wrong three times in a row which as a scalper almost never happens. Cheers...
Hi RickM, but, whats your R:R ratio?
  • #340
  • Oct 3, 2019 8:43am Oct 3, 2019 8:43am
Quoting Jordi
{quote} Hi RickM, but, whats your R:R ratio?
Hi Jordi

I trade the momentum of the move on M1 in basket trades set by my trade manager. The exit is programmed into the trade manager which is based on percentage of points earned. I hedge at 10 pips (M1) and build trades in baskets till any pullbacks hits 50% of total points earned. Sometimes I close on a double MA or a MACD setting optimized for that pair.
I just decide which setting to use at entry depending on the SHAPE of the move. The Algo that drives the market has a top speed and uses a range of angles which can be analysed and traded with great profitability. The hardest part is getting the Execution of the trade correct ( Being patience for the right moment ).


Cheers
Trading thin liquidity at the boundary of the charts
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