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In One Sentence - How Do You Trade?

  • #22
  • Apr 22, 2020 2:07am Apr 22, 2020 2:07am
After blowing several trading accounts in my first three years of trading, mainly owing to inexperience, particularly trading without a stop loss order (which I have since seen as a capital protection order, CPO), I trade placing my CPO at a location guided by market structure and market condition.

KP
Do your homework, follow the footprints of smart money
  • #23
  • Apr 22, 2020 2:14am Apr 22, 2020 2:14am
I am primarily a swing trader and in the attached chart, I am watching how XAUUSD handles the reaction zone (magenta) within which it has been consolidating in the past few days for a possible sell trading opportunity because of the long bottom shadow of yesterdays's candlestick; otherwise I will step aside.

KP


Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily_April 22, 2020.png Size: 50 KB
Do your homework, follow the footprints of smart money
  • #24
  • Apr 22, 2020 6:29am Apr 22, 2020 6:29am
Understanding that an impulsive tendency on my part was costing me much money in the early years of my Forex trading career made me switch to a swing trading style, which suits my personality and lifestyle.

KP
Do your homework, follow the footprints of smart money
  • #25
  • Apr 22, 2020 7:05am Apr 22, 2020 7:05am
As I gained in trading experience, I learned I could be a better and more successful trader by keeping things simple as advised by Albert Einstein several years ago.

KP
Do your homework, follow the footprints of smart money
  • #26
  • Apr 22, 2020 7:07am Apr 22, 2020 7:07am
‘Everything should be made as simple as possible, but not simpler.’ - Albert Einstein

Quoting KeenPips
As I gained in trading experience, I learned I could be a better and more successful trader by keeping things simple as advised by Albert Einstein several years ago. KP
Do your homework, follow the footprints of smart money
  • #27
  • Apr 22, 2020 7:28am Apr 22, 2020 7:28am
Buy when price going up (close if it doesn't) and sell is opposite. Nothing is too high/low
Be Greedy
Dices Return This Week: na
  • #28
  • Apr 22, 2020 7:33am Apr 22, 2020 7:33am
Your 'philosophy' is apposite, as I have found that what gets attention (e.g. my weekly trading activities) gets measured and what gets measured gets improved.

KP

Quoting AKCodingEye
Buy when price going up (close if it doesn't) and sell is opposite. Nothing is too high/low
Do your homework, follow the footprints of smart money
  • #29
  • Apr 22, 2020 7:34am Apr 22, 2020 7:34am
I trade in the H1 time zone. My system sends me buy and sell signals.
  • #30
  • Edited 10:28am Apr 22, 2020 7:37am | Edited 10:28am
This is another trading principle of yours I also share as I too don't believe in 'overbought'/'oversold' indicator readings.

KP

Quoting AKCodingEye
...Nothing is too high/low
Do your homework, follow the footprints of smart money
  • #31
  • Apr 22, 2020 11:07am Apr 22, 2020 11:07am
Buy when currency is undervalued and sell when overvalued, no trading when currency is at fair value.
Know what you trade
  • #32
  • Apr 22, 2020 11:37am Apr 22, 2020 11:37am
fading extremes.
there is always, always another trade!!
  • #33
  • Apr 22, 2020 11:39am Apr 22, 2020 11:39am
conservatively
Learn from your mistakes and march on.
  • #34
  • Apr 22, 2020 11:40am Apr 22, 2020 11:40am
Quoting BWilliam
Buy when currency is undervalued and sell when overvalued, no trading when currency is at fair value.
Volume profile?
Learn from your mistakes and march on.
  • #35
  • Apr 22, 2020 11:45am Apr 22, 2020 11:45am
'There's always another trading opportunity or another day to trade so never chase the market' is a principle I also use.

KP

Quoting profitfarmer
fading extremes.
Do your homework, follow the footprints of smart money
  • #36
  • Apr 22, 2020 11:48am Apr 22, 2020 11:48am
Mate, in one sentence, how do you trade?

KP

Quoting here2there
{quote} Volume profile?
Do your homework, follow the footprints of smart money
  • #37
  • Apr 22, 2020 11:49am Apr 22, 2020 11:49am
Quoting KeenPips
Mate, in one sentence, how do you trade? KP {quote}
I was actually asking BWilliam if he uses Volume Profile.
Learn from your mistakes and march on.
  • #38
  • Apr 22, 2020 11:51am Apr 22, 2020 11:51am
Quoting KeenPips
Mate, in one sentence, how do you trade? KP {quote}
Conservatively.
Learn from your mistakes and march on.
  • #39
  • Apr 22, 2020 11:56am Apr 22, 2020 11:56am
Towards or away from prior day's levels using session open range as reference points.
on a postive roll...
  • #40
  • Apr 22, 2020 11:59am Apr 22, 2020 11:59am
I understand mate, only that doing that will take us away from the focus of this thread and I don't want to encourage that as I want us to stay on topic; even then, being focused is a key to trading success imho.

KP

Quoting here2there
{quote} I was actually asking BWilliam if he uses Volume Profile.
Do your homework, follow the footprints of smart money
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