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How to make every trading week profitable

  • #21
  • Nov 11, 2022 7:08am Nov 11, 2022 7:08am
Quoting: Only volume matter. No vol = no trades. It is not related to "hours".

Trading at certain times of day is connected to volume. Since there are certain times of day when volume is high.
  • #22
  • Nov 11, 2022 7:16am Nov 11, 2022 7:16am
Quote: Why 4%? Why not 4.2%? Why not 0.3%? Do you know how much you have to earn back if you have 4% loss? Do you understand that you have to earn MORE than that number? Much more. Do you know how many "tries" you have with your 4% loss and where is the point of no return then? I think not. Because if you say that that mean you don't understand basic math.

I said “for me”, it is 4%. For someone else it might be more or less.

My max DD is 12% on each account. If I only allow 4% daily DD, that gives me 2 additional days to recover.

And since I can easily Gain 4-12% on a single trade and risk a tiny fraction of 1% on each trade, it is plenty of room for recovering 4%
  • #23
  • Nov 11, 2022 7:22am Nov 11, 2022 7:22am
Quote: Again. Why 2 trades? Why not 1843 trades? Why in 1-2 hours? Why not in 1-2 days? What leverage you want to use to gain back 4% loss in 2 trades? How it even possible?

This is more of a principle not a rule. The objective is to be able to recover a DD as quickly as possible. There is no reason IMO to dig a hole so deep that you are in red for many days.

how is it possible to recover a 4% DD in a couple trades? I think I answered that already in prior post.

But if you don’t trade high +R then it will take more trades and maybe longer time to recover. You have to figure out what works for you. I prefer to be able to recover from a DD with a 1 or 2 trades.
  • #24
  • Nov 11, 2022 7:33am Nov 11, 2022 7:33am
Seems like the rest of ryury’s comment is mostly just insults.

But I do find it comical that someone thinks it is not possible to recover 4% in a single trade.

They must be very inexperienced and lack knowledge and understanding of the market and what is possible.

People who think things are impossible just because they can’t do it are pretty full of themselves.

I trade the US30. Currently it is the only thing I trade, because of the tight spread and relatively quick/nonvolatile moves that can be found on a daily basis. I trade with a very tight SL so have small losses and BIG winners.
  • #25
  • Nov 11, 2022 8:07am Nov 11, 2022 8:07am
Quoting ryuryu
Let me post my 5 cents. {quote} There is nothing connected with mindset in trading. Like nothing connected with mindset in professional boxing. You are or a good doctor/sportsmen/trades, or you watch youtube. Or hard work, study, research or dreams about mindsets and magic. {quote} What for? Why? You should trade when market allows you to trade. It not depends on DD. Also. Do you have any stats? For example you have stats that if take a break after DD then you are a millionaire, if not then you are a billionaire. How you came to this? You "think"...
And you get a block from me to. You are more stupid than should be allowed.
MetaTrader 4 - so many advantages.
  • #26
  • Nov 11, 2022 8:13am Nov 11, 2022 8:13am
Quoting benaiah
I figured only a matter of time before someone arrives with their insults. I will respond to each item in time but will block you due to your attitude which is not needed.
Yea there is allways a lot of blocking to do when you are the OP. I allways do it right away, so that we can keep the thread positive.
MetaTrader 4 - so many advantages.
  • #27
  • Nov 11, 2022 4:48pm Nov 11, 2022 4:48pm
Quoting benaiah
Seems like the rest of ryury’s comment is mostly just insults. But I do find it comical that someone thinks it is not possible to recover 4% in a single trade. They must be very inexperienced and lack knowledge and understanding of the market and what is possible. People who think things are impossible just because they can’t do it are pretty full of themselves. I trade the US30. Currently it is the only thing I trade, because of the tight spread and relatively quick/nonvolatile moves that can be found on a daily basis. I trade with a very tight...
dont bother with him, I have seen him post in many threads and is always the same, he has the keys to everything and either you do it like him or you are a looser + retarded so just dont bother.

I actually find the concept very interesting keep going please

have a nice weelend
  • #28
  • Nov 11, 2022 10:55pm Nov 11, 2022 10:55pm
I was just pottering about and saw this thread. I think it's interesting to come forward with this subject in view. I have read through what is here and would like to weigh in if that's ok.

* People think "as people" not "a person" when they approach "trading" etc. This is probably the biggest mistake of all. There is just you and the outside world and the market you intend on accessing. Notice how I worded that. This is probably the second mistake people usually make. The world now, not just sites like this one, is full of people and too often opinion is deemed strong enough to be represented as more. That's the next mistake.

* Most people assume they're "good enough" to take on something that has been in operation since the days of "Moses" etc. So, just as you saw with the likes of ryu, and others, there's a lot of opinionated posturing around. A market is made whenever it fits in with society's needs and wants. Not because of retail traders.

* When you put money and people in the same room, you generally always get the same effect and results. Many are naive. Many are impatient. Some are prepared to admit to their not knowing. It's always a laugh reading when people do not make the connection between themself and money. It shows a complete absence of intelligence, as if they think they're playing a video game by themself against the game's algorithms etc.

* People are too quick to put money between themself and the world. This translates to ignorance playing out and they lose money and start listening to others instead of going and learning how the REAL landscape really looks and operates. Sites like these are overcrowded with an assortment of maybe's and do's and don'ts. But really, very rarely do I see anyone who possesses real world experience saying much that actually works and holds true through the years. I mention this because I don't think people realize that real trading is a lifetime commitment and not something you learn over the weekend. And for this reason, I would say that majority of the information on these sites is not realistic, in the long run. Without taking offense to this said, consider one thing - the source of details. A real life trader even after doing a basic scan of the world, sees there is a lot involved and it would be silly to take the word of an opinion over something more concrete. This is why doing your time in searching and researching is paramount over premature activity.

* "Wallet traders" is the term we used to call what is today known as retailers in trading. Why? Because they think with their wallet and feel with their idea of reality and real life, or at least what they consider to be real life. This is why it's ridiculous and ultimately impossible to remove emotions from an activity like trading or investing. Part of you goes into what you do and it can never be "unmade" so when people talk about disconnecting from their feelings and emotions, it is literally insane and cannot work because these people are not accounting for the unknown factor in real life. So manual or VPS and automated stuff, it's all the same in the end.

* A suggestion I would make here is this - For a person to go read the book titled "The millionaire next door". Not for all the rubbish most people want i.e. wanna get rich etc., no. To understand that trading is something that requires maturity. And it requires perspective that actually has nothing to do with money. People who say it's about money do not see that the person is the one with the energy to make something happen not money, money's just a thing, an idea. Part of the reason why most try to disconnect from real life. You would have to deal with the same circumstances whether you are a vendor in a bazaar or an online dealing with a broker or liq provider. This is what the "ryu's" of the world do not see - any money you have is not yours, never was or will be. So there has to be something more to it all. The unknown factor is what the ryu's etc do not account for. Pick a time in history and you'll see it there.

* Trial and error in the right measure. These sites are full of everything and nothing but carry very little weight when full real life is viewed. What I see is people being afraid to make mistakes. Observations are better for generating lesson markers in someone's timeline than these sites and opinions. Most people do not have a background in business or finance etc, so the everyday person must have a better way to think before acting.

* A person must choose - gamble or learn. It's probably one of, if not THE hardest lesson to learn because people seem to think and believe they "already know how to learn and think". Yes well, the results show a different story. Making mistakes that lose money and worse, lose money consistently, are not sourced from "bad math" but the person and their view of the world market platform. Why would you ask a gambler the difference between a "true-false" strategy vs a "wet-dry" strategy? You wouldn't. Why not? Because in their thinking the latter either is impossible or does not exist. You might ask what all this has to do with this thread's title. Everything. Consistency is bred from what IS consistent. The time length (per day or week etc) before conclusion does not factor in as most people believe.

* Have a plan that is NOT based on you. People yack on about having a plan but the market you access cares not about your big plans. Nor your weakness or opinion. BUT it does care about what you do not know and understand. Every broker does things a bit differently to the next one so having a static plan based on superficial things will not be useful. And since THEY are who you are asking to pay you for your efforts, on behalf of the landscape, it's good to know that using other people's money is of no help either. If you cannot manage money properly, this will come out in the wash in every situation eventually.

* Stop trying to learn from gamblers. People don't realize they learn the bad habits of another person the more time they interact. So their blind spots become yours. Gamblers think in terms of "XYZ" but someone with a stronger commitment knows that it is recipe for failure. Why? Gamblers never account for the unknown-ness of the future. Using a function such as a stop level is not a solution to this.

Everything I have said here is not trying to sway or persuade others about me etc. Merely to point out that the people who are "better at all this than you" are not generally saying anything on sites like this. They know there is no transparency in gambling or efforts of this type, so therefore they also know that the marketing advertising etc of the industry is effective on a large portion of the population who are attracted to the world markets platform. So it's usually pointless trying to explain something to anyone who "believes" before searching and researching and learning. As I said, money and people in the same room always seems to create specific results.

So how to be profitable each week ?

Stop assuming this site is a place of learning. There are certain generic facts that surround a market and people DO NOT talk about them. My simple conclusion would be this - most people do not know how to determine basic truthful facts anymore. They have never been exposed to a market beyond a digital screen so the only "learning" is online etc.

(Everything I have said is real and true but I am not responsible for what people do with it. If pride and insecurity stop you from acknowledging that you're just a normal everyday person trying to access a global economy, and, if THAT doesn't give you some sense of scale of what is going on, then nothing anyone says will help you.)

Direction, Follow Through. The stepping stone of anything. Unless you're an academic writing a book then the same story applies to everyone. Even corporate hedging or platform collaboration require these 2 things. If you're trading for capital profit or investing for dividends or future profits, it's all the same. If you can start thinking in terms of dissolving an opinion and let it become something else then you can look at your market and stop gambling. Part of the problem is people being too pragmatic and ignoring the obvious stuff.

So the only way to trade for profit each day or week etc, is to stop assuming there is not any correct way to do things. Too many people can't handle this basic idea... Up or down. They all just assume they understand it. If that were true they'd all be profitable.

If one prefers to be a price chart trader (technical analyst) then at least do it properly. Price A to B. what is the distance? what's the average time used? Where does order projection usually transfer from other asset classes to this one? What, you thought none of it was interconnected? An asset class is merely arranged collateral. And fx is one of the main conduits.

Money cannot sit still. If it does it loses value and concentric value is one of those generic basics that is in place to stop this from happening and no one on these sites talks about. Why? They don't understand it and or are not aware of it. Busy-ness is what keeps the money flowing.

So, the more you obsess over the specific AS the primary starting point, you've already missed the boat. The only time I won't send an order to market is if it's too expensive for my approach. AND if I cannot set up a contingency so it absorbs the extra expense.

What does a usual retailer do? See trade setup. Place order plus extras eg SL and TP etc. Cross fingers and pray. Why? No number crunching can prepare you for the future. But if you come at it in reverse then your starting point is always at the other end of the scale that others think is the "end of the world".

If you want to talk about it in terms of R:R's = 5 to 1 easy. Multiples of this when opportunity presents.

So what about greed vs fear? distraction.
What about Win Strike rate and R:R? distraction.
What about timeframe? misdirection.
What about account size? Proportionately distracting.

Leverage? You like playing with surgical knives while a clown does his knife throwing act at you?

Common sense says, it's not your money, your game or your landscape. But if you want to enter the reserve and hunt, why would you trust and believe the double agent talking to you?

A primary reason why people get conned etc. The game is money and everything it touches..

The other game is you. The markets rely on people's overconfidence and audacity and arrogance. And addictions.

You need to find a way to generalize your gaze so you start with 0 expectations. Period. The game of money is NOT about making it but KEEPING IT.

Since a market will "do different things" each day and week (according to the industry, all the websites and your lovely peers) it's safe to say this is NOT what you want to do and focus on.

For example, I would use a moving average to score or value a price range, not trade off it. Why? Ever wondered why, when attempting to 'trend trade' using a MA strategy, the MA's just won't seem to do the same thing every time the market turns or travels sideways? They always seem to 'behave' strangely, correct?

Stop listening to "people" and use your brain.

Moving/travelling/traversing ???
Average? Combination/symbolic balance ??

So, how specific can one be in any 24hr period? In an hour? In a minute?

To do this please learn all you can and also learn about compounding interest, but instead of seeking fortune, learn the real value of it in the markets as they really are, not how "people reckon".

Anyway that's me done. I hope this helps.

Peter
Real Trading is not gambling.
  • #29
  • Nov 12, 2022 2:24am Nov 12, 2022 2:24am
Quoting benaiah
Quoting: Only volume matter. No vol = no trades. It is not related to "hours". Trading at certain times of day is connected to volume. Since there are certain times of day when volume is high.
Absolutely agree with that. It was proven in a book i read that simply traiding during a high volume hours makes the move more genuine and can be profitable as well. It was described as quanitive and exogenous parameter in contrast of mas, rsi, macd and etc as they are not like that. Simply put it that way, if a move with high volume brakes an important high or low it is more likely this move is thrustworthy and can be used as an edge. Remember you watch the volume of H1 as it was that timeframe in the book compared tick volume versus real volume and the differences of both are not more than 10%. Cheers!
  • #30
  • Nov 12, 2022 4:23am Nov 12, 2022 4:23am
Quoting ryuryu
Let me post my 5 cents. {quote} There is nothing connected with mindset in trading. Like nothing connected with mindset in professional boxing. You are or a good doctor/sportsmen/trades, or you watch youtube. Or hard work, study, research or dreams about mindsets and magic. {quote} What for? Why? You should trade when market allows you to trade. It not depends on DD. Also. Do you have any stats? For example you have stats that if take a break after DD then you are a millionaire, if not then you are a billionaire. How you came to this? You "think"...
Ok mate calm down, just ripped up someone's entire thinking are you real, Think he makes some very interesting points, especially trading smaller accounts, spinning those bigger numbers makes you take profits early for sure sabotaging any true R/R I never understand why someone making £500 a week working wouldnt want to try and replace that income first with trading, I bet there are millions of traders around the world would love it if they could make £100 a day and grow, however the very same people want 1....2 ...3K a day straight from the get go and will only luck a challenge .....hence I passed in 1 or 2 day mentality if people could only see how that is so pathetic 10% in a day where a hedge fund is happy with 10% in a year, smaller accounts easier to protect capital for sure and that all comes from the "mind" so your response is totally pathetic in my view and if you havnt got anything positive to add to someone's "out of the box" thinking then go watch some Elon Musk videos he will help you with it
  • #31
  • Nov 12, 2022 4:26am Nov 12, 2022 4:26am
Quoting benaiah
Seems like the rest of ryury’s comment is mostly just insults. But I do find it comical that someone thinks it is not possible to recover 4% in a single trade. They must be very inexperienced and lack knowledge and understanding of the market and what is possible. People who think things are impossible just because they can’t do it are pretty full of themselves. I trade the US30. Currently it is the only thing I trade, because of the tight spread and relatively quick/nonvolatile moves that can be found on a daily basis. I trade with a very tight...

You carry on buddy found it an interesting read, good on you
  • #32
  • Nov 12, 2022 6:11am Nov 12, 2022 6:11am
Quoting PeterCaleb
I was just pottering about and saw this thread. I think it's interesting to come forward with this subject in view. I have read through what is here and would like to weigh in if that's ok. * People think "as people" not "a person" when they approach "trading" etc. This is probably the biggest mistake of all. There is just you and the outside world and the market you intend on accessing. Notice how I worded that. This is probably the second mistake people usually make. The world now, not just sites like this one, is full of people and too often...
I know that you mean it well and that you have used a huge amount of time on you post. But this thread is about the method that Benaiah has developed and we all want to hear more about it. Your trading methode is not relevant here. I think that with all your experience and knowledge you should start your own thread helping people that needs help. And maybe write a book. That would be nice. But if we begin to discuss you huge post here, then the messages from Benaiah will drown.

Just my oppinion. Others might think different. And I don't mean to be negative.
MetaTrader 4 - so many advantages.
  • #33
  • Nov 12, 2022 6:34am Nov 12, 2022 6:34am
Quoting PeterCaleb
I was just pottering about and saw this thread. I think it's interesting to come forward with this subject in view. I have read through what is here and would like to weigh in if that's ok. * People think "as people" not "a person" when they approach "trading" etc. This is probably the biggest mistake of all. There is just you and the outside world and the market you intend on accessing. Notice how I worded that. This is probably the second mistake people usually make. The world now, not just sites like this one, is full of people and too often...
Keep the good work..many newbie wishes to know more...all trading strategies is fantastic...just the main problem is Do we have the consistent DISPLINE to continue it? I
Let Market Tell You
  • #34
  • Nov 12, 2022 6:45am Nov 12, 2022 6:45am
Quoting PeterCaleb
I was just pottering about and saw this thread. I think it's interesting to come forward with this subject in view. I have read through what is here and would like to weigh in if that's ok. * People think "as people" not "a person" when they approach "trading" etc. This is probably the biggest mistake of all. There is just you and the outside world and the market you intend on accessing. Notice how I worded that. This is probably the second mistake people usually make. The world now, not just sites like this one, is full of people and too often...
Hi Peter

I learned that you in fact does have a thread. Why don't we send people with interest in your sharing a lot of knowledge to that thread, in stead of you repeat it all in this thread. And there is a lot of knowledge in your thread. Helping people to at better mindset.

The thread is: Objective Thinking And Trading
MetaTrader 4 - so many advantages.
  • #35
  • Nov 12, 2022 8:50am Nov 12, 2022 8:50am
I was thinking also, having smaller accounts can help improve your trading.

If you have the mindset of protecting your account and not over leveraging, you can practice increasing the profits on your trades without increasing risk.

As your trade goes in your favor, you can add positions in such a way so as never to increase the overall risk beyond original risk of the first position entered.

For me, typically 2-3 added positions is what I’m comfortable having overall. I also like to scale in as soon as possible to maximize profit potential, so that the majority of the move has all positions in profit.

If price is really moving well, and it is a really good setup, you can even enter bigger positions to really maximize profits. But again, never increase risk beyond your max loss per trade limit.

Using this approach I’ve made 12% on a single trade setup and keeping risk below .5%

I don’t think this the best that can be done. I’m still getting comfortable with the method…
  • #36
  • Nov 12, 2022 9:04am Nov 12, 2022 9:04am
Quoting benaiah
I was thinking also, having smaller accounts can help improve your trading. If you have the mindset of protecting your account and not over leveraging, you can practice increasing the profits on your trades without increasing risk. As your trade goes in your favor, you can add positions in such a way so as never to increase the overall risk beyond original risk of the first position entered. For me, typically 2-3 added positions is what I’m comfortable having overall. I also like to scale in as soon as possible to maximize profit potential, so that...
Sometime in the future I will show you one of my small thinkings, that gives you 16% profit on 2 trades, risking only 2% - if you are a good trader. But that is another day.

Regarding addons. I am angious to hear how you do it? Is it a firm percent on every add on and how big is it.

I am not adding on at this moment, but I have made a strategy - which need to be tested. Say you have taken a very fine trade at H1. I then change to M15 and every time the bar is positive at M15, then I should add with a certain percentage of the main trade. This way, if the trend goes further and the bars are positive, you get some addon's. If the M15 bar goes negative, you don't add on. After 4 bars of M15, you have one whole H1 bar. If that is positive, you can do it again. Is it negative, then forget adding anything.

This is very rules based, because I am very bad at making decissions. My mind set is in ruins. I need to have the rules - e. g. like you are showing in this thread: When you have lost 4% on an account, then stop and go to the next account. That is a rule that can help me.

As I said, I have not tried my add on strategy really because adding does not fit into the strategy I am running. I made a robot doing it for me, but were distracted and have never finished it. But it is close to finished.
MetaTrader 4 - so many advantages.
  • #37
  • Nov 12, 2022 9:24am Nov 12, 2022 9:24am
Quoting RiskFighter
{quote} Sometime in the future I will show you one of my small thinkings, that gives you 16% profit on 2 trades, risking only 2% - if you are a good trader. But that is another day. Regarding addons. I am angious to hear how you do it? Is it a firm percent on every add on and how big is it.
I use the 12/6 EMAs. Since I primarily look for clean fast moves, price will carry/pull, or bounce on one of these. Or it will consolidate and sooner or later clearly show the EMAs will carry through to a breakout. So either enter in consolidation, BO, or BOPB.

But my favorite would be if there is an FB, followed by EMA carry.

How big of my position is depends on strength of the move, size of SL, and how much I’m already in profit. Any position I add should not increase overall risk to more than .5% but I prefer risk to be even much lower than that, like .2 or .3%
  • #38
  • Nov 12, 2022 9:43am Nov 12, 2022 9:43am
Quoting benaiah
{quote} I use the 12/6 EMAs. Since I primarily look for clean fast moves, price will carry/pull, or bounce on one of these. Or it will consolidate and sooner or later clearly show the EMAs will carry through to a breakout. So either enter in consolidation, BO, or BOPB. But my favorite would be if there is an FB, followed by EMA carry. How big of my position is depends on strength of the move, size of SL, and how much I’m already in profit. Any position I add should not increase overall risk to more than .5% but I prefer risk to be even much lower...
I find that BollingerBands catch bounces from EMA very precicely. A cross on both Bollinger sideband and EMA50 is a firm sign on continuation of the trend - if the trend of the EMA50 is steep of 30 degrees or more. But thank you for your post about add on. I will go into listening mode again :-)
MetaTrader 4 - so many advantages.
  • #39
  • Nov 12, 2022 9:56am Nov 12, 2022 9:56am
Quoting RiskFighter
{quote} I find that BollingerBands catch bounces from EMA very precicely. A cross on both Bollinger sideband and EMA50 is a firm sign on continuation of the trend - if the trend of the EMA50 is steep of 30 degrees or more. But thank you for your post about add on. I will go into listening mode again :-)
I like BB, but I found that for me it is too much on the chart and distracts me from other things I use to make trading decisions. I think if it were used by itself it would be just as good as any other approach, but I have too many things I look at…
  • #40
  • Edited 10:28am Nov 12, 2022 10:00am | Edited 10:28am
Quoting benaiah
{quote} I like BB, but I found that for me it is too much on the chart and distracts me from other things I use to make trading decisions. I think if it were used by itself it would be just as good as any other approach, but I have too many things I look at…
You are right. I use BB, EMA50 and a Stochastic for confluence - thats all. Simple and no distraction. And on top of it, I have made a robot sending me a signal whenever there is a possible trade ;-O
MetaTrader 4 - so many advantages.
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