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

  • #401
  • Oct 30, 2019 5:38pm Oct 30, 2019 5:38pm
Quoting Daniel2775
{quote} well if you are on the winning side then you have no worries haha
thats what i an saying mate broker needs to rethink is b book
people leave, but this thread will go on for ever
  • #402
  • Oct 30, 2019 6:57pm Oct 30, 2019 6:57pm
Quoting Daniel2775
{quote} Its an algo. So based on George and my methods the news is used to stop hunt and lure people in. No single bank can move the market like that. Its all rigged
R u meaning that the central bank also can’t move the price..if really that then after news came out it’s doesn’t take even 1 second start to move so fast.if nobody can handle the price it’s not gonna be move like that.there is someone doing it intentionally.n who is doing it.and my main point is if nobody controlling or keep changing the price then how is the online server knows that this time is news coming up then i have to move so fast.this is very clear someone giving the command from behind go this way n that way n the server is listening to them otherwise a server never knows that a country economic going down or up..i just want to know that who is the behind person giving fundamental information to the server.thanks
  • #403
  • Oct 31, 2019 1:28am Oct 31, 2019 1:28am
Quoting Daniel2775
{quote} In the end it will always blow a few months could be fine but never have i seen one last a year
That is why ,we withdraw the profit on regular basis ,rinse and repeat.
  • #404
  • Oct 31, 2019 2:54am Oct 31, 2019 2:54am
Quoting T4Trade
{quote} That is why ,we withdraw the profit on regular basis ,rinse and repeat.
You don't need to withdrawn profits, just use one of two exit strategy's.
1.. Close oldest trade at set distance, open new trade to replace that order in line with the most recent trade around 800 points (assuming you are trading around 0.5ADR100 size gap between orders).
2.. Close all trades at set distance and restart new basket. That's the Iceberg Stop. I prefer this method and I normally use around 2000 points for basket of 5 trades.

This can be run for years with nice profits, but not fantastic profits.
The secret is to run them as a Reversal EA using indicators but DELAY FIRST ENTRY
Trading thin liquidity at the boundary of the charts
  • #405
  • Oct 31, 2019 8:59am Oct 31, 2019 8:59am
Quoting Drolph
Well, Daniel2775.. the problem in almost all discussions here is, that noobs insist and stick to their wrong trading behaviors thinking they are doing the right thing. Trading on Demo is indeed a major if not the most destructive habit of unsuccesful traders/noobs. You have to understand, that all your results and evaluations done on demo are of NO worth. Truth hurts. By giving you this advise you could save yourseld a lot of the ressource everyone of us can not afford to waste - time. Of course you can put it as opinion although it is a fact. But...
it is not true.you cant ignore practice
  • #406
  • Oct 31, 2019 4:19pm Oct 31, 2019 4:19pm
Quoting Musafiribu
{quote} R u meaning that the central bank also can’t move the price..if really that then after news came out it’s doesn’t take even 1 second start to move so fast.if nobody can handle the price it’s not gonna be move like that.there is someone doing it intentionally.n who is doing it.and my main point is if nobody controlling or keep changing the price then how is the online server knows that this time is news coming up then i have to move so fast.this is very clear someone giving the command from behind go this way n that way n the server is listening...
Its no single person or bank its an algo. Have you not figured out yet sometimes positive news comes out but the currency drops.
You never know what news is going to do to the currency.

News is used for stop hunts and to draw in traders.

No one really knows what moves the market. It is a lot of corruption also and broker manipulation is also a thing
  • #407
  • Oct 31, 2019 4:20pm Oct 31, 2019 4:20pm
Quoting RickM
{quote} You don't need to withdrawn profits, just use one of two exit strategy's. 1.. Close oldest trade at set distance, open new trade to replace that order in line with the most recent trade around 800 points (assuming you are trading around 0.5ADR100 size gap between orders). 2.. Close all trades at set distance and restart new basket. That's the Iceberg Stop. I prefer this method and I normally use around 2000 points for basket of 5 trades. This can be run for years with nice profits, but not fantastic profits. The secret is to run them as...
agreed here
  • #408
  • Oct 31, 2019 4:20pm Oct 31, 2019 4:20pm
Quoting Aussi
{quote} thats what i an saying mate broker needs to rethink is b book
very true mate
  • #409
  • Nov 1, 2019 7:00am Nov 1, 2019 7:00am
Quoting T4Trade
{quote} That is why ,we withdraw the profit on regular basis ,rinse and repeat.
This is the best thing you can do as a trader. Not doing that cost me $46,000 in 2004 ($10,000 deposit and $36,000 profits) when my broker went bust on me.
  • #410
  • Nov 1, 2019 10:04am Nov 1, 2019 10:04am
Quoting Daniel2775
{quote} agreed here

Hi Daniel,

To help aspiring traders becoming successful as is the intent of this thread, can you help give insight as to how not to take losses and hedging correctly as you do. thx!
  • #411
  • Jan 5, 2020 9:34am Jan 5, 2020 9:34am
Being a newbie is difficult in any business, especially when it comes to investments and serious business that takes your strength and time. Many traders face such difficulties as excitement, confusion, everyone is stressed when something goes wrong, each of us is experiencing financial losses and must find strength to try again. And there are hundreds of other little things that affect us one way or another. And I think we need to be strong enough to deal with it all. Unfortunately, not a few people stop after one or two failures, because they think that it's too difficult or that it's not business at all, but a game of luck. But if you get yourself together and calmly think over the strategy of your work, you can avoid such moments and you will be able to reach a decent level of profitability as a trader.
  • #412
  • Jan 8, 2020 10:59am Jan 8, 2020 10:59am
Hi Daniel,

I would like to thank you for your suggestion in regards to having opposite pairs to trade. Using Georges method combined with opposite pairs i'm starting to understand the algo's and how they control price and time. I have one question - if you have a set stop of 10 pips and had a strike rate off 90%. IF i DOUBLED up on the next trade that would be pretty similar to hedging from an account balance point of view, too recoup a loss.
My account would grow at the same rate as if I was hedging - but the one disadvantage is the strike rate would decrease.
Thank you for time and wish you well in your trading.
thanks
Chris
  • #413
  • Apr 28, 2020 7:04am Apr 28, 2020 7:04am
According to my observations, success is achieved by those who do not give up after the first failure, are people who are not afraid to try and make mistakes. After all, you should realize from the first moment you make a decision to do business that you are now doing what directly affects your income and your future. But unfortunately, when it only looks like a prospect, it doesn't scare anyone, but when you face it in reality, then it becomes an incredible challenge and even stress. You realize that you have no one to take responsibility for, you make your own decisions at every stage. And it's complicated enough, both morally and psychologically. But you should take it more calmly and accept it as a fact. Only those who do not give up achieve success.
  • #414
  • Apr 28, 2020 8:02am Apr 28, 2020 8:02am
To achieve success you must trade but brokers don't want us to make money as shown in this picture from today's email from my broker.
Attached Image
  • #415
  • Apr 29, 2020 1:00pm Apr 29, 2020 1:00pm
I think that a trader who understands the market and trading mechanisms and knows how to apply them in practice can be considered successful. The last point is of special importance, because it is not enough just to understand and understand everything in words, you have to orient in how you can make money on it. To understand it, you should read analytics, look through reports, and of course do not spare time to work on a demo. If you do it, you will definitely have a period when you will come to a more stable understanding of the market and excellent profits. The main thing here is to take your time and just keep moving forward. It seems to me that despite the sea of sad stories about the market, many traders still continue to hope that everything will work out by itself and of course lose their money, after which there is a total disappointment...
  • #416
  • Apr 29, 2020 1:39pm Apr 29, 2020 1:39pm
When you read the success stories of famous people, it's just breathtaking how much they have gone through. And at the same time these people, who were on the verge of complete failure, and some really lost almost everything, and in doing so they started to conquer the business world again and were on top again. And this is the main indicator that everything is possible, and often even the most successful people are mistaken and not in the most advantageous situation. In this case, do not panic, you need to gather strength and just work on yourself. For me personally, this is a key motivation and proof that everything depends on the person. Only you manage your life and your money. So you have to believe in yourself and you become a real specialist.
  • #417
  • May 1, 2020 7:47am May 1, 2020 7:47am
The secret of success in working on yourself and your capital. Because it is knowledge and striving for it that makes a person a real expert in his work. In fact, a lot of people think that they have enough strategy to start earning, and especially traders are hindered by the fact that they manage to earn once and they think that this will always happen. They start taking risks and in a hurry, they feel incredibly confident in themselves. And they don't want to realize that things can go wrong. But in fact, it is necessary to strive for new knowledge and new achievements every day for your trading level to reach a new level. This makes a trader a trader, not a player. So there is no need to waste time. You should spend it wisely on your education.
  • #418
  • May 4, 2020 12:20pm May 4, 2020 12:20pm
Hello Daniel,

Thanks for the very interesting information! I'm also reading the topic of George. Great work and a lot of respect you're doing this.

Ty!
You'll get what you give.
  • #419
  • May 16, 2020 4:17pm May 16, 2020 4:17pm
Quoting Jaricho313
Whats up guys, just thought i'd put my imput here. I've been trading for a little over a year now and im still not profitable. However i am break even, i win some, i lose some. I have a somewhat good understanding of price action, and understand how to use lower time frames to identify entries. However these are the things I believe which are stopping me from getting profitable. 1. Identifying trends - Do you guys look at the big swings or the little swings in the big swings? 2. More advanced price action - (What i mean by this is hard to explain)...
If you ever find the answer to this question, please let me know. I'm very interested.
  • #420
  • May 16, 2020 4:17pm May 16, 2020 4:17pm
I just sat and read this entire thread. A lot of good stuff but be aware to filter out the ones that argue; what a waste of reads.
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