after losing 750 dollar i have reached the same conclusion as you did . the reality in forex is you have to have a strategy for losing as you have a strategy for winning keeping yor emotion in check is the biggest factor in trading forex
Your and My Lessons Learned Losing and Gaining in Trading 5 replies
things you learned from forex and improved your life 12 replies
The most important lesson’s I’ve learned trading Forex, so far... 15 replies
DislikedThe exact numbers is not important. The manner the number is structured is important. The interpretation of these numbers is most important. So far, the structure and interpretation on this thread is off, missed it's true potential. There won't be much value with the wrong approach. IMHO. Feel free to disagree.Ignored
Disliked{quote} That Indy Saves some effort with Excel if I can be sure how to understand the results. When you say "Percentage Gain within" do you mean that price never travelled past this % and closed back inside. So both the High or Low and the close was within each % range? Is there an easy way for you to share some of the formulae so we can check the logic, if you're not interested in sharing the source code? I think Im more interested in how far price is likely to move ie the High/Low in a day to hit a TP, rather than where price closes.Ignored
DislikedThe exact numbers is not important. The manner the number is structured is important. The interpretation of these numbers is most important. So far, the structure and interpretation on this thread is off, missed it's true potential. There won't be much value with the wrong approach. IMHO. Feel free to disagree.Ignored
Disliked"4. You have to stop giving a sh#t what other people think of your trading." can't emphasize how important above sentence is!!!!! I have 5 rules in trading 1. simple 2. systematic 3. do not assume 4. critic 5. do not panic stick to yours plan and rulesIgnored
Dislikedafter losing 750 dollar i have reached the same conclusion as you did . the reality in forex is you have to have a strategy for losing as you have a strategy for winning keeping yor emotion in check is the biggest factor in trading forexIgnored
Disliked{quote} You are way over reaching on what CeeSo actually presented. He never gave any kind of a trading system. He made it clear he that he has no intention of going down that rabbit hole. He never said anything about what happens statistically AFTER 0.5% is breached. His statistics were pointing out that for the specific data that he collected, price will CLOSE some large percentage of the time within the range of 0.5 to -0.5% of the Open value--THAT IS ALL! He did not elaborate on what price does between breaching 0.5% and the Close, but you are...Ignored
Disliked{quote} ... statistics can be extremely useful to you to build trading contexts and make better decisions. The statistics are not a trading system they are a framework to build better trading systems. I don't know how many times I have to say this.Ignored
QuoteDislikedHe never gave any kind of a trading system. He made it clear he that he has no intention of going down that rabbit hole
Disliked{quote} so. what did you do? did you short it and get lucky or did you follow the statistics and longed it to that you fall into the 70% hitrate ? {quote} that's because he has no trading system. As I said previously the levels are just some pretty TA to support his way of trading with price action. Basically ANY indicator could replace those. You have to stop deify those levels. I don't think his teachings are useless but there is no real solid basis upon these level otherwise he would give straight answers that correspond to real statistics if...Ignored
DislikedThis is my first forum post but I am not a newbie. I have lost about 300,000$ trading forex over the course of 5 years and it has been a huge struggle, to say the least but I kept persevering and educating myself and this year I am finally profitable to the tune of $130,000. After all this time and stress (and finally a very good mentor) I figured out some basic truths about forex trading. 1. You have to Master Money Management first and foremost. Forget EVERYTHING else and learn to lose like a professional. I spent tens of thousands of dollars...Ignored
DislikedIn regards to the discussion on the AUD above I never said every pair is 85% I said you had to do each pair separately because they all have their own characteristics. 85% is just a generalization for discussion purposes. Here are the AUD current frequency distributions. Also, remember all these numbers mean is the % at close not the % of the high and lows of the day. So to settle the discussion^ of course, you should do each pair individually and of course, you should redo each pair once every 30 days {image}Ignored
Disliked{quote} CeeSo, not sure why you keep posting inaccurate information. Not sure if it is intentional or by accident. The actual numbers are in green below between .5 and -.5. You keep including the .75 amount. 67 and 68% is BIG difference between 85%. Again, there may be value in your information and this thread. But the 85% number is very misleading, it is much less than this regardless of what time frame used. {image}Ignored