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Psychotrading

  • #1
  • First Post: Dec 18, 2020 1:17pm Dec 18, 2020 1:17pm
I read my thread from 2018 and there where some that i still think is accurate and some that have changed.
I stopped drinking coffe. I excercise A LOT. I dont talk to people much and dont involve in much in social circumstances. I stopped playing in a band.
Tradingwise i think i try to get inside the head of the other traders and figure out what they are thinking/feeling.
Oh yes another thing that seemed to have changed is the money. Enough said about that.
I did consider making an explorer, but there really is no point. Explaining on the chart is what i would use it or anyway.

Now for the meat n bones: The charts.

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Its difficult, its hard work, its stressfull, its taxing. But compared to other work, i LOVE IT.
Been at it for more then 10 years.
Also i know for a fact when i look at my book keeping that when im good, i trade good.
So LOTS of vegetables, fruit, running, martial arts, yoga, calisthetnics and 7-10 hours of sleep. These are MUSTS, otherwise i do bad.
SL i keep pretty tight, maybe 10 SL. A nice TP i consider 15. But neither of those can be fixed, they are set depending on how much the market move.
Analysis is mostly H1, trades placed on M1 and M5. Since i want to get in RIGHT before it moves clearly and speedy. As soon as it gets sketchy and hesitant i close that fucker down fast like the wind. 1-10 positions a day. 1 position at a time.
So thats it for now.
My signature is: "Classified".
  • #2
  • Dec 22, 2020 11:51am Dec 22, 2020 11:51am
The biggest mistake i have made was to keep my loosers and close my winners.
My signature is: "Classified".
  • #3
  • Dec 22, 2020 12:12pm Dec 22, 2020 12:12pm
Awesome thread & approach.
I'm planning to do the same, actually started.
We must be strong mentally and physically as well. It is essential.
You must live in the markets to master it.
Nothing can beat a human brain, again..
And guess what? Better results of course.

Basicly you have to be a nasty mofo in this market. Max Risk 15-20 pips.
Plan good and place your mental trades / scalps. Let some of them run, etc.

Also stop masturbating,search about semen retention, only do it with your partner or don't.
Overall my life improved a lot when I learned this one simple trick.
  • #4
  • Dec 22, 2020 3:35pm Dec 22, 2020 3:35pm
Very interesting approach, are you going to give more details? I also started to work more on my mental and physical health as well and I can see big improvements in my trading
  • #5
  • Jan 5, 2021 3:22am Jan 5, 2021 3:22am
I think it's no secret that there are profitable approaches in the market that can really be used on a long-term basis. And it's cool that you've become someone who's been able to realize potential in the marketplace and find something that gives you a stable and confident position in the marketplace. I think you'll agree with me that that really makes a huge difference. So I'm just happy for you and I wish you tremendous success in the future, because it's always important and it's always an opportunity for further development. Although I think that sometimes it's very interesting to try something new and to go beyond what you're used to, but such decisions are of course made purely individually.
  • #6
  • Jan 5, 2021 5:03am Jan 5, 2021 5:03am
only need to trade one pair to make a living by trading.
i myself only trade eurusd.

longterm trading is easier to handle as i only need to trade in one direction whether it is a bullish direction or bearish direction for the whole year.
but longterm trading is very boring so i need another account for shortterm trading.

shortterm trading is more challenging because i need to adapt myself as quickly as possible to a fast changing market in a day.
i can switch myself from bullish to bearish bias more than 3 times a day. i can have more than 20 trades in a day.

i have never used price following indicators such as moving average.
i watched 13 charts (DE30Cash, US30Cash, US500Cash, USTECHCash, JP225Cash, SP500, VIX, US10Y, USDJPY, EURCHF, OIL, Gold & Retail trader Position) to only make my trading decisions on one pair (EURUSD) on 6 monitors for my shortterm trading account.
Wit this i was able to achive 80% winning trades on my shortterm trading account.
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Dangdut is a music of my country
  • #7
  • Jan 6, 2021 2:55am Jan 6, 2021 2:55am
The trader is constantly adapting in the market and is constantly looking for solutions. And you were right to say that we leave something in our work permanently, and we give up something soon, because we see no perspective and no real benefit that affects the profitability of a trader.
It seems to me that we just have to be attentive to every little change and keep track of statistics in order to detect the need for such changes in time, or go back to what you were using before.
I see that your approach makes sense and provides you with a certain stability and increase in profitability - I think this is just great news, I think you're happy about it too.
So just wishing you continued prosperity.
  • #8
  • Jan 6, 2021 2:35pm Jan 6, 2021 2:35pm
Like i said, i need to adjust myself as quickly as possible that's why i can't use the lagging indicators.
If i use lagging indicators, i can't apply basic trading rules to profit from the trade "Buy low Sell high".

Here is just another 3 unrealized winning buy trades.

I will tell ya a little recipe on how i cooked this trades.

first, i looked at the market sentiment charts (SP500, VIX, US10Y, USDJPY, EURCHF, OIL, Gold & Retail traders Positions) for the bias direction (bullish/bearish). At the moment, the sentiment was bullish bias. So, i am looking for a buy trade now.
then, i am looking to enter the market by looking at charts (DE30Cash, US30Cash, US500Cash, USTECHCash & JP225Cash).

to be continued....
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Dangdut is a music of my country
  • #9
  • Edited 4:36am Jan 14, 2021 1:28am | Edited 4:36am
Quoting franconep
Very interesting approach, are you going to give more details? I also started to work more on my mental and physical health as well and I can see big improvements in my trading
Yes i think i will. When im as most sharp i will.

EDIT: As it happens that was today.
My signature is: "Classified".
  • #10
  • Jan 14, 2021 1:36am Jan 14, 2021 1:36am
Quoting NuNix
only need to trade one pair to make a living by trading. i myself only trade eurusd. longterm trading is easier to handle as i only need to trade in one direction whether it is a bullish direction or bearish direction for the whole year. but longterm trading is very boring so i need another account for shortterm trading. shortterm trading is more challenging because i need to adapt myself as quickly as possible to a fast changing market in a day. i can switch myself from bullish to bearish bias more than 3 times a day. i can have more than 20 trades in a day. i have never used price following indicators such as moving average. i watched 13 charts (DE30Cash, US30Cash, US500Cash, USTECHCash, JP225Cash, SP500, VIX, US10Y, USDJPY, EURCHF, OIL, Gold & Retail trader Position) to only make my trading decisions on one pair (EURUSD) on 6 monitors for my shortterm trading account. Wit this i was able to achive 80% winning trades on my shortterm trading account. {image} {image}
EUR/USD is also the only pair i trade. I have traded 3-6 at the same time but finally i figured there is no reason too. Other people have other ideas but mathematically i cant see why. I make 3-12 trades a day so its rather similar to how you do things.

Long time ago i went through all the indicators and systems i could find, and none of it seems to make any sense.

Its a good thing that you came back to forexfactory. Happy trading!
My signature is: "Classified".
  • #11
  • Jan 14, 2021 1:38am Jan 14, 2021 1:38am
Quoting NuNix
Like i said, i need to adjust myself as quickly as possible that's why i can't use the lagging indicators. If i use lagging indicators, i can't apply basic trading rules to profit from the trade "Buy low Sell high". Here is just another 3 unrealized winning buy trades. I will tell ya a little recipe on how i cooked this trades. first, i looked at the market sentiment charts (SP500, VIX, US10Y, USDJPY, EURCHF, OIL, Gold & Retail traders Positions) for the bias direction (bullish/bearish). At the moment, the sentiment was bullish bias. So, i am looking...
In my mind there is no "perfect" time to trade. When im focused and sharp i always have at least one position open. I mean it doesnt need to be the best trade, but there is ALWAYS an opportunity.
My signature is: "Classified".
  • #12
  • Jan 14, 2021 1:56am Jan 14, 2021 1:56am
Quoting NuNix
Like i said, i need to adjust myself as quickly as possible that's why i can't use the lagging indicators. If i use lagging indicators, i can't apply basic trading rules to profit from the trade "Buy low Sell high". Here is just another 3 unrealized winning buy trades. I will tell ya a little recipe on how i cooked this trades. first, i looked at the market sentiment charts (SP500, VIX, US10Y, USDJPY, EURCHF, OIL, Gold & Retail traders Positions) for the bias direction (bullish/bearish). At the moment, the sentiment was bullish bias. So, i am looking...
On the 4th of january you bought 3 positions at around the london closing. It didnt go very nice and you closed them out real quick, i was likewise a little surpised at that. It would seem you close on a loosing position rather quickly and i think thats important.
My signature is: "Classified".
  • #13
  • Jan 14, 2021 2:08am Jan 14, 2021 2:08am
I have a day job that i have cut down on to focus more on trading and this is motivated by my results in trading. So i now i have 2-3 days a week for trading. Then i work every other weekend and then i do like long hours. The more i can see a steady profit in trading the more i will cut down on the hours of regular work. I have a pretty good work situation so i can decide myself how much i want to work with a few months of heads up.

Much of how i live and who i talk to and so on depends on the markets. I train every day to stay focused, muay thai, yoga, weights and running.

For eleven years i have been trading on and off. Sometimes i have had like 6 month breaks. Then i usually i looked at some charts and thought "I can do this!"
Its like other things i have done in life has slowly and by degrees made me better and more confident in trading. Music, dance, theater, physics, philosophy, psychology and so forth. Sometimes i think playing music has made the most difference.
My signature is: "Classified".
  • #14
  • Jan 14, 2021 4:30am Jan 14, 2021 4:30am
Getting in cheap
I have this idea that seems like its helping me. Instead of thinking about the trend i think about when and where to get in cheap.
We dont know exactly how price is going to move. Thats why we in general want to buy at a low price and sell at a high price. Its not THAT simple buts its a start.
So right now as where we are in E/U, now is the time for a cheap buy. Its not CERTAIN it will work out of course.
So im in for 2 small positions buy. Max TP is at around 1.222 where it got a high yesterday at night.
This is not a SUPER nice buy. Im not very confident, buts its OK.
Like i was saying to Nunix, there is ALWAYS an opurtunity to trade. Im not saying its the best, its OK. The bread of butter kind of trade.
So lets see how its goes. SL roughly at 1.213.
That dont mean i will ONLY close at those levels, it means if i loose connection to my broker at least i got SOME kind of plan.

To get in cheap i mean that it doesnt cost a lot right now to venture, to invest.
We got a PRETTY solid bottom, dont mean its absolute, only mean we have had quite a few bounces, two EXACT ones at 1.2136 during the night and morning (CET).
To get in cheap i mean that we dont know whats going to happen, but at this time its doesnt cost THAT much to try it and experiment with a buy or two.
As the market is moving a little sluggish, i increase my intended timeframe.
If there is big news and stuff like that, i DECREASE my timeframe.
And yet there are no timeframes, its only in our heads. And their heads.
My signature is: "Classified".
  • #15
  • Jan 14, 2021 7:02am Jan 14, 2021 7:02am
Stopped out. Winds are changing, selling two small ones.
My signature is: "Classified".
  • #16
  • Jan 14, 2021 10:26am Jan 14, 2021 10:26am
Closed those two sells, bought lower twice. One closed on nice profit, other is still riding.
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My signature is: "Classified".
  • #17
  • Edited 10:49am Jan 14, 2021 10:38am | Edited 10:49am
M1 PA
There is a place to trade on M1 within 6 minutes of any given time. Roughly.
Several positions can be used for a specific type of trade that would have a higher timeframe flavour to it.
For pure M1 trading i use only one position. SL is roughly 5 minutes in a bad place. TP is 5 minutes in a cool place.
Thats based on empirical PA.
I mean if you have been wrong for 5 minutes, thats pretty much one wave on the PA. See? Do you understand this what im saying?
Count the candles from lows to highs and so forth. A wave is roughly 7 candles. This is the way of PA on M1 E/U.
But i need to take into account that RIGHT NOW 16:36 London time people are getting ready to leave work. They want to have things done for today.
Some wanting to sell will remain half an hour longer.
Some might remain until 18 London time.
This is evident from sutyding the PA for 11 years.

The place to enter into a trade on M1 are these:
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So in words these are when price turns without resistance.
At the break of an old high or low, if price continues rather UNHINDERED, thats the place to enter the trade.
You have 5 to lets say 120 seconds at these moments. Open a position or dont.
As far as i can see there is no better way to enter. Its the most exact moment that i can see.

This is a type of no guessing trading.
The chart itself without clutter tells you where to enter.
The guessing comes in at aiming for the BIG take profits. Bigger then 15 pip.

Actually, now that i think about it: This IS systematic.
My signature is: "Classified".
  • #18
  • Edited 1:03pm Jan 14, 2021 11:36am | Edited 1:03pm
Yaed, I have a similar approach to yours.
I check 15-30M chart to get an idea for the cheap and expensive points,or speculate the next breakout / waves.
But I trade on the 1M chart with identfying posibble cheap & expensive points and ''hiding my positions'' at those places and letting the market gather some profits for me. I don't search for the perfect entry either, I do this on XAUUSD / US30, the reason is because those markets are less open to manipulation and global markets with huge caps, I did not find the currencies suit my style of trading. HangSeng Index is also great if you can come to agreement with your broker with the spreads and such.
  • #19
  • Jan 15, 2021 3:23am Jan 15, 2021 3:23am
Quoting PixelSniper
Yaed, I have a similar approach to yours. I check 15-30M chart to get an idea for the cheap and expensive points,or speculate the next breakout / waves. But I trade on the 1M chart with identfying posibble cheap & expensive points and ''hiding my positions'' at those places and letting the market gather some profits for me. I don't search for the perfect entry either, I do this on XAUUSD / US30, the reason is because those markets are less open to manipulation and global markets with huge caps, I did not find the currencies suit my style of trading....
Well maybe which instrument to choose is mostly a matter of getting used to it. Picking one and sticking with it.
My signature is: "Classified".
  • #20
  • Jan 28, 2021 1:51pm Jan 28, 2021 1:51pm
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This is the H1 application of the same observations from M1.
I think it was 7 wins and one loss today.
Using this.

Sell target, 1.2123.

Buy target, 2.2088.

Roughly. This is in the most clear way the most crucial information for tomorrows trades.
In real fix this can, if shown to be strong, acts as places to trade directly.
Otherwise they are the new floor and ceiling, after they are broken.
This is the propensity for a revisit even after a classical channel break.
What is known as a "fake" buy/sell.
This is actually the normal, not the unusual.
Price like anything is systematic.
Its even 100% systematic.
That doesnt mean price 100% predictable in any important, practically applicable, cognitively possible way.
My signature is: "Classified".
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