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  • #1,207,341
  • Dec 20, 2021 3:13pm Dec 20, 2021 3:13pm
Quoting JauntyLoon
Going to have to call it quits on trading. Have spent three frustrating years losing money and can't see a single 'system' or method that is consistent. Haven't seen anything here either. Good luck! If in doubt, don't trade - 99.99% of FX traders lose money. Leave it to the pros!
Main strategy for trading business is money management. Learn that, fundamentals and apply it into trading, and after that comes technicals. If you need to take a break that is good, but do not give up. You will make it in trading. It takes time, like anything else. Some people will get it faster some people will take a bit more time. You are looking at the trading the wrong way. There is no perfect system. But you have to approach it as business. Like having a restaurant or anything like that. I keep telling everyone and some people agree a lot of people are stuck in retail mindset strategy and they will never make it in trading. You must approach it as a professional trader. We are not bank traders but there are ways to approach it professionally. It is not a big secret, nothing like that, but just you have to have right education just like in anything else, plus experience.

Trading process:

1. Idea generation
2. Fundamental analysis
3. Technical analysis
4. Trading psychology
5. Risk management
  • #1,207,342
  • Dec 20, 2021 3:24pm Dec 20, 2021 3:24pm
Quoting ryank0991
{quote} Try again with as minimum account size as you can. Just two two things: 1. Target 2.5% of your account to TP and 0.05% of your account to SL. Never exceed it unless you know the inside information. 2. Price action and fundamentals are the only two things you'll need to trade. Wait till price reaches a pivot point, see the price is moving where you anticipated. Take the trade. Compounding is the answer. Target 1% increase in account per trade or per day. For $500 account, its just $5. Try doing my way if you want, I know you'll be back trading...
In my view, shooting for 5:1 rr is very retail. Going to be a lot of losers, and a lot of big winners that turn into scratchers (or even losers) which is going to be very hard for most traders to take.

Linda Raschke refers to an academic study in her book looking at the efficacy of systems via their RR. Unsurprisingly, the two best RR systems, are what hardly anyone does.

In first place, was HUGE risk reward, low win rate strategies, i.e. looking at banking 20:1 rr and beyond.

Firmly in second place, was HUGE hit rate, but very low RR strategies, i.e. looking at banking after 0.3:1, but winning almost all the trades that you take.

I don't so any of the above either. I hit for 2:1 - 3:1, and invariably end up taking a good bit less (unless I am afk, and/or sleep through a good move in my favour overnight). But it is empirically proven, that the two most profitable strategies by RR, are the two things that hardly anyone does.......who would have thought?
  • #1,207,343
  • Dec 20, 2021 7:15pm Dec 20, 2021 7:15pm
Alright guys the new analysis is here. Happy Trading.
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  • #1,207,344
  • Dec 20, 2021 7:57pm Dec 20, 2021 7:57pm
Quoting Techanalyst
{quote} Main strategy for trading business is money management. Learn that, fundamentals and apply it into trading, and after that comes technicals. If you need to take a break that is good, but do not give up. You will make it in trading. It takes time, like anything else. Some people will get it faster some people will take a bit more time. You are looking at the trading the wrong way. There is no perfect system. But you have to approach it as business. Like having a restaurant or anything like that. I keep telling everyone and some people agree...
I think the Idea Generation is the major part of having a working system FOR YOU.

But first you need some practical things to start with, then add in your observations to generate a reliable idea.

just like driving, you need to know how to operate the car to start with, then your intuition and “sense” of the road condition come in play. Combine the both side of the skill set differentiates you, a bad driver, and pro racers.

IMO, idea generation involves tech and fundamental analysis already, because it usually stems from what you see as price moves on the chart or at times of certain news.

Of course I am a fake guru don’t trust my words
I’ll just show you.

Jaunty, after all these years trading, what is your observation of price that you feel confident to say it is more likely to happen than not?

Quoting tommydoginti
{quote} I think a way to potentially shorten the process is to start with a hypothesis, like a proper research in (science and any fields) Start clean and observe the charts without any presumption, and see if you make any observations out of it. I find it is best way because that “instinct” observation usually suits your style and preference in trading: time of day, pattern, etc. On the other hand write down some of your strength and desire, such as duration of trades, trend trading or reversal. Put them all together and start developing a strategy...
  • #1,207,345
  • Dec 20, 2021 9:46pm Dec 20, 2021 9:46pm

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  • #1,207,346
  • Dec 20, 2021 10:36pm Dec 20, 2021 10:36pm
Quoting JauntyLoon
Going to have to call it quits on trading. Have spent three frustrating years losing money and can't see a single 'system' or method that is consistent. Haven't seen anything here either. Good luck! If in doubt, don't trade - 99.99% of FX traders lose money. Leave it to the pros!
I started from here, I reviewed all the indicators. There are sections of Russians, they are also strong programmers. You can look at the Chinese, Japanese, and other sections of the indicators. There's a treasure trove of strategies out there.
Start from there.
https://www.mql5.com/en/code/mt4/indicators

A song with a hint, who has logic will understand what I wanted to say. You are like that little duckling, the main thing for you is not to get hit by a tractor. Be more careful and follow the rules of the trade.
  • #1,207,347
  • Edited 12:41am Dec 21, 2021 12:11am | Edited 12:41am
Quoting JauntyLoon
Going to have to call it quits on trading. Have spent three frustrating years losing money and can't see a single 'system' or method that is consistent. Haven't seen anything here either. Good luck! If in doubt, don't trade - 99.99% of FX traders lose money. Leave it to the pros!
https://desitrader.in/ganns-square-of-9-calculator/

https://www.academia.edu/47634805/GANNS_SQUARE_OF_NINE
POSTMASTER
  • #1,207,348
  • Dec 21, 2021 1:08am Dec 21, 2021 1:08am
Quoting Robinhood1
{quote} https://desitrader.in/ganns-square-of-9-calculator/ https://www.academia.edu/47634805/GANNS_SQUARE_OF_NINE
I realize you are trying to help, but this stuff is not helpful. It only complicates trading.
Learn from your mistakes and march on.
  • #1,207,349
  • Dec 21, 2021 1:53am Dec 21, 2021 1:53am
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I added another long position today with close SL at 74 .

  • #1,207,350
  • Edited 3:18am Dec 21, 2021 2:12am | Edited 3:18am
Quoting here2there
{quote} I realize you are trying to help, but this stuff is not helpful. It only complicates trading.
target around 11430 and then down to around 10960 and you are on my holy list now. I can spot scammers serving the brokers and there is about 7 at this thread only. The most crowded scammer broker thread is cable update
POSTMASTER
  • #1,207,351
  • Dec 21, 2021 3:20am Dec 21, 2021 3:20am
Quoting JauntyLoon
Going to have to call it quits on trading. Have spent three frustrating years losing money and can't see a single 'system' or method that is consistent. Haven't seen anything here either. Good luck! If in doubt, don't trade - 99.99% of FX traders lose money. Leave it to the pros!
How many hours sitting on front of the screen have you spend, you need at least 10.000 hours, so you can have some experience, but that just alone doesn't guaranty that you are going to make money, you need more like, reading psycology, looking how the greatest traders work and working with fundamentals, a system alone will not make you money in the long end, in fact it will lose money.

Just take a break we are near Christmas and New Year Holidays and maybe change your system (you can catch it again later when you want) you need to find different methods to adapt (learn new things) with the market and watch your risk, never risk more from what you target, go at least for one times your risk and play more aggresive when you see that your chances of winning are very strong.

Here this forum has many good traders with good knowledge that make money every day, don't quit my last trade gave me less than my last too, but I am up 260 pips and thinking to trade again after the New Year celebrations, now the market isn't good for trading.
Looking for profitable short term trades ...|
  • #1,207,352
  • Dec 21, 2021 4:21am Dec 21, 2021 4:21am
Quoting Robinhood1
{quote} target around 11430 and then down to around 10960 and you are on my holy list now. I can spot scammers serving the brokers and there is about 7 at this thread only. The most crowded scammer broker thread is cable update
Probably a lot more than 7 you donīt like me right, AND I DONīT LIKE YOU TOO!!!

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POSTMASTER
  • #1,207,353
  • Dec 21, 2021 4:36am Dec 21, 2021 4:36am
Quoting Robinhood1
My scenario for audjpy {image}
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POSTMASTER
  • #1,207,354
  • Dec 21, 2021 4:39am Dec 21, 2021 4:39am
Quoting Robinhood1
My scenario for EurUsd {image}
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POSTMASTER
  • #1,207,355
  • Dec 21, 2021 4:40am Dec 21, 2021 4:40am
Quoting Robinhood1
{quote} https://desitrader.in/ganns-square-of-9-calculator/ https://www.academia.edu/47634805/GANNS_SQUARE_OF_NINE
Is this everyday occultism more reliable than reading tea leaves?
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Air force
  • #1,207,356
  • Dec 21, 2021 4:44am Dec 21, 2021 4:44am
Quoting W0lfram
{quote} Is this everyday occultism more reliable than reading tea leaves?{image}
You tell me once you witness the following. target around 11430 and then down to around 10960 and you are on my holy list now.
POSTMASTER
  • #1,207,357
  • Dec 21, 2021 4:47am Dec 21, 2021 4:47am
Anymore scammers want challenging? The list is not limited i suppose Then iīll just take a screenshot and you line up one after the other family portrait

Even better screenshot of likes to a workmate
POSTMASTER
  • #1,207,358
  • Dec 21, 2021 4:56am Dec 21, 2021 4:56am
I am off to do some shopping, you can have the thread back.
POSTMASTER
  • #1,207,359
  • Dec 21, 2021 5:27am Dec 21, 2021 5:27am
Quoting Robinhood1
{quote} https://desitrader.in/ganns-square-of-9-calculator/ https://www.academia.edu/47634805/GANNS_SQUARE_OF_NINE
W.D Gann died broke. That explains everything.

Gann is the ancestor of the fake gurus and scammers
You have to have an IQ higher than 90 to interact with this user.
  • #1,207,360
  • Dec 21, 2021 5:48am Dec 21, 2021 5:48am
Quoting Nordling00
{quote} W.D Gann died broke. That explains everything. Gann is the ancestor of the fake gurus and scammers
Easy for you to judge.
But there were no personal computers at that time.
Risk Management is of utmost importance!
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