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Need a kind soul to add sound/email alert to indicator 4 replies

save my soul 5 replies

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Quoting soultrader
{quote} would you like me to give you an excercise to do that can change your trading? If enough ask for it i will give it to you.
@ Soultrader

I would like the exercise.
Trade Without Fear
Quoting soultrader
{quote} i think you said 'is it money management' - well trading is all money management so no, that's not the answer. sorry
What will I do if every single trade goes against me?

Here's a fun answer:

Given that every position that I open goes against me, I won't use stop losses.

Example scenario:

- At any point in time I place a buy trade; the Market starts going down

- I wait some time and then place a sell order; the market starts going up( because it always goes against me) and my previous buy order gets in profit.

- I close the profit and place another buy order; market goes against me and my previous sell gets in profit.

- Rise and repeat.

What you think soultrader?
Open one position.the price goes against you.than open a recovery position with the same size.sevaral scenarios:the price continue to go in direction of the recovery position.let it go.when start to retrace(break the high for esample of the first daily candle)close the recovery position and wait till the retatacement it s deep enough to stay or at break even or in the money in relation with the earlier closed position.second scenario:the price goes immediately in the opposite direction of the new recovery position.good.wait till the price start to be trendy than close the winnig position whe price start to retrace and remake the same procedure as before..but what to do if the market don't produce a retracement deep enough to cover the looser open position?this is the juice of the entire procedure.the market had develop all kind of anticorps for every strategy.is builted to survive at every kind of strategy.or mybe not.the difficult part in this game is to apply the right reaction in relation of what kind market we are.and as the nice gut crucial point says there are six dimention ergo six kind of market and it' s our job understand in which market we are when or we open a new position or when we should udjust a looser position.personally till know i disvovered with my study just one 'reaction' that satisfy two o the trhee dimention or condition but never one that satisfy all condition(lateral/up and retracement/up-lateral down and retracement/down)any suggestion are apreciate
Always going in the direction of big trend so I wouldn’t open position in opposite of my first. Plus my broker doesn’t allow that.

If trade goes against me, be patient. Price doesnt turn on a dime. It does retrace. Stick to strategy, find smaller trend in direction of big trend and wash your trade or take small loss. Gather bearings after wash and start again.

I’m testing similar strategy of what multi millionaires do. I’m almost positive they don’t use SL but are able to make insane profits. Look at Goldman Sachs financial report each year!
When price goes against you, you can....... place an opposite order with the same lot size when ever you feel that your "wrong" with your direction or you are starting to feel uncomfortable with the DD%. This is basically putting that trading into "limbo". Now no matter what the market does you cannot lose anymore than that amount. At this point instead of chasing your tail around with a bad trade, you wait. Wait for the next day or how ever long it takes for you to get your next GOOD entry signal. Then, at that point, you can enter the trade as you normally would with same lot size and stick to your system and trust you will make good trades and you can chip away at your "bad trade that is in limbo". Once you are in profit or are happy with where you stand, you can close all the trades at once. Or you choose to only close the trades that are in profit and be stubborn with the one that is still negative and try to trade your way out of it...haha. Remember it's not a LOSS until you close out your trade and give the broker your money.

PS. Option 2 would be to double your lot size after you place your first trades in Limbo. Personally I don't like doing this after a Loss. I would much rather increase my lot sizes after Wins.
Quoting bojack34
When price goes against you, you can....... place an opposite order with the same lot size when ever you feel that your "wrong" with your direction or you are starting to feel uncomfortable with the DD%. This is basically putting that trading into "limbo". Now no matter what the market does you cannot lose anymore than that amount. At this point instead of chasing your tail around with a bad trade, you wait. Wait for the next day or how ever long it takes for you to get your next GOOD entry signal. Then, at that point, you can enter the trade as...
Using this strategy one needs to becareful.... Especially when trading ranging markets
The success of a successful man is behind the success of a successful frien
Bravo bojack34 exactly.the most important thing it s not your entry but how to manage the bad trade e seing that those are the majority..bhe....i let you the conclusion..
Quoting unknown7
{quote} What will I do if every single trade goes against me? Here's a fun answer: Given that every position that I open goes against me, I won't use stop losses. Example scenario: - At any point in time I place a buy trade; the Market starts going down - I wait some time and then place a sell order; the market starts going up( because it always goes against me) and my previous buy order gets in profit. - I close the profit and place another buy order; market goes against me and my previous sell gets in profit. - Rise and repeat. What you think...
Top of the class for you sunshine

 

  1. dieguito80 - getting there but confused arent you...
  2. Reddawg5345 get a new broker
    bojack34 - you been looking at my account?
  3. Slinge - dont you have to be careful whatever you do?

So, it looks like some of you are starting to think for yourself. this is good guys!

This is very close to the way I trade, however the leverage i use would scare you i think - but it's only scary until you have done it for a few times, because you start to realise that it doesn't actually matter and this is what leverage is for!

Every guru on the planet says 'make sure you set a tight stop' and 'only risk 1-2% of your account' and 'always trade with the trend' and 'accept losses, it's part of the game' and 'one trade doesn't matter it's what happens over 100 or 1000 that matters' - And that's why they are teaching and not trading. pure bollocks that i followed for years.

Telegram: https://t.me/soultraderforex
[quote=soultrader;13352240]{quote} \ Reddawg5345 get a new broker

Who do you recommend? Using Oanda currently.
you are gonna struggle is you are a usa resident - the usa dont want you to be able to make money.

ideally a broker with a hedging account aas opposed to a netting account and tons of leverage to abuse. like 500:1

I use IC markets but they too have issues with US clients i believe
Telegram: https://t.me/soultraderforex
Quoting soultrader
you are gonna struggle is you are a usa resident - the usa dont want you to be able to make money. ideally a broker with a hedging account aas opposed to a netting account and tons of leverage to abuse. like 500:1 I use IC markets but they too have issues with US clients i believe
Gotcha. VPN sounds like my workaround
Quoting unknown7
{quote} What will I do if every single trade goes against me? Here's a fun answer: Given that every position that I open goes against me, I won't use stop losses. Example scenario: - At any point in time I place a buy trade; the Market starts going down - I wait some time and then place a sell order; the market starts going up( because it always goes against me) and my previous buy order gets in profit. - I close the profit and place another buy order; market goes against me and my previous sell gets in profit. - Rise and repeat. What you think...
You were joking but in the and you got the closest possible right answer
Well done for your thinking
Quoting soultrader
{quote} Top of the class for you sunshine dieguito80 - getting there but confused arent you... Reddawg5345 get a new broker bojack34 - you been looking at my account? Slinge - dont you have to be careful whatever you do? So, it looks like some of you are starting to think for yourself....
So do you stack winning positions as well?

What's the average duration of your hedge trades, minutes? hours? weeks? ...years?
Quoting soultrader
{quote} would you like me to give you an excercise to do that can change your trading? If enough ask for it i will give it to you.
Yes please! also could you send me your book too?

Many thanks!
CGN
EXCRCISE:

 

  1. on your account go to gbpusd and place a long trade and a short trade at the same time.
  2. your objective is to make at least 10 pips from each position.
  3. you may add to positions if you wish as many times as you like, but if you do then you must make 10 pips at the total position size in each direction
  4. Thre is no time limit on the trade length


is this clear?

this is a lot easier to do on ctrader because when you add to a position you still only have one position and not lots of them

Just to clarify, this is not what i do to trade - but it will teach you that you never have to lose if you trade the right size

Telegram: https://t.me/soultraderforex
Quoting soultrader
EXCRCISE: on your account go to gbpusd and place a long trade and a short trade at the same time. your objective is to make at least 10 pips from each position. you may add to positions if you wish as many times as you like, but if you do then you must make 10 pips at the total position size in each direction Thre is no time limit on the trade length is this clear? this is a lot easier to do on ctrader because when you add to a position you still only have one position and not lots of them Just to clarify, this is not what i do to trade - but it...
Hi Soultrader.
Not clear.
How does this "teach you that you never have to lose if you trade the right size"
Thanks,
David
Quoting Trade.Time
{quote} Hi Soultrader. Not clear. How does this "teach you that you never have to lose if you trade the right size" Thanks, David
Have you tried it?
Telegram: https://t.me/soultraderforex
..i soul good morning from italy..so if we are looking at the big picture it s possibble to divide this business in two part,the open position (capital flow)and the close position(position capitalized) and what concern my point of view it s just how to manage the capital flow in relation at the capitalized position ...hedge.but i have a simple question for you and for me it s the core of my entire mode of thinking..how to do when the market don't let you go i mean when the market trap you in the case that you have two open position one is in profit,the market start to revere and decide to close in profit one of two,put onother pending order to cover the other that still open and the market retourn again in the original direction without retrace and achieve at least break even( position close -position open>=0) and activate the pending order?we have to open new cicle or just wait the market gives you the next chance to escape from its self?thank s man..
Quoting dieguito80
..i soul good morning from italy..so if we are looking at the big picture it s possibble to divide this business in two part,the open position (capital flow)and the close position(position capitalized) and what concern my point of view it s just how to manage the capital flow in relation at the capitalized position ...hedge.but i have a simple question for you and for me it s the core of my entire mode of thinking..how to do when the market don't let you go i mean when the market trap you in the case that you have two open position one is in profit,the...

Hi Buddy, and you are thinking along the correct lines.

Some people reading this will struggle with the idea of hedging and i completely understand. I myself used to shout at people hedging saying "don't be stupid - if you are hedged you are flat" and it's true, you are flat .... but there's a difference - you are still actually in the trade. you can't make money if you are out of the market but this way you can.

Clearly no-one would enter the market at random as this excercise suggests but it is a good training ground to do it. Everyone as a trader wants a method of choosing direction and taking the trade. I have mine and you have yours.

Clearly what you want is that most of the time your trades play out as you expect and you make money. The reason for this exercise is to make you think how to handle trades that do not go your way and how to make them winning trades or rather a winng SEQUENCE of trades. Doing it this way means you will never actually lose.

In answer to your question - what to do when the market is locked, you have a long and a short and you have no clue which way it will break - then you simply wait until it does. my trades often run for days when my initial trade was wrong.

The key is finding your own way of getting out that you are comfortable with.

The really great thing with a hedging strategy is that you can trade much bigger than you would normally. I often find myself at 100:1 leverage and happy to sit there with it. until you get used to it it is uncomfortable but once you are settled with it it's a sense of freedom.

you have to work this out for yourself - but here are the basic steps...

1) decide where you want to trade and trade it
2) at the same time decide at which price you will be wrong
3) instead of a stop loss place a hedge order

If the trade wins then great, cancel the hedge take your money. if not...

4) allow the price to go against your original position for as long as it wants to and let the hedge execute
5) when you get a signal from your method to go back in the original direction - close the hedge and take the profit on the hedge
6) either add to your first position or wait until it is in a position where both trades combined present a profit overall.

There are some things you need to be careful of though. make sure the hedge is placed where you are definetly wrong on the original trade. you dont want your hedge taken in with what amounts to just a deeper correction or even a stop hunt. this is just because you don't really want to hedge unless you have to. the hedging is often profitable BUT you really want your original trades to run alone and make money from those.

Hedging is really to help you get out of incorrect trades with a small profit or a no-loss.

Personally i take this one step further, if i'm heding i want MORE profit that the original trade rather than a break even so i have a system of how to add to trades too.

Alternatively you could just copy my trades
Telegram: https://t.me/soultraderforex
Ciao Soul good evening almost time to sleep here..but first i would like to say and send you a big thanks for all your precious advise and if i' m not to mutch unpolite i woud have onother question the last ..maybe hih hih hi....the most important i guess..what to do if the price retourn in the original direction (without make eough retracement for reach at least break even in relation with the other position)after close the second recovery position?so let s exaplane:
-I open one position(buy)
-the price goes in the opposite direction
-i open recovery position (the same size sell)
-recovery position start to be in profit
-i close in profit the recovery position(the sell)
-i put a pending sell order just below the bottom few pips were i close my recovery position(to cover the buy that still open)
-the price seems to retrace but....hoops come back and active my pending sell order
-and here we are i m stuck again
So what to do in this case if the exit it s wrong as the entry?this is the dilemma...maybe i have to wait for the next exit signal?..
By the way..covid permitting i wait you here in tuscany for vacation.
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