gerval,
okay as thats your call but not the process rules, so your risk and loss...
cpfleger
okay as thats your call but not the process rules, so your risk and loss...
cpfleger
1
{quote} Hey Abade, thanks for your insight. It wasn't my intention to attempt to mechanise the KOF strategy but rather get people to think of it as a system with moving parts rather than just focus on the averaging part. I'm not sure what's revealed in the paid strategy, but if you just view his livestreams, it can really gaslight newbies into doing some suicidal stuff especially with his 1 lot averaging orders. He doesn't go into detail about what triggers him to pile on the averaging orders at certain price. He just follows up with "this is what...
. I believe KoF is a bit narcissistic and reckless, but his approach is worth studying for sure. Have not tried any of the paid courses, but his free videos on YouTube are good enough to understand the basic premise of his strategy. He also has a lot of live videos without a single losing day (that's remarkable).I agree that it can be dangerous for new traders that don't know how leverage or cost averaging works, but I am assuming most traders here have at least some experience in that regard.
Don't worry about any kind of constructive criticism! Feel free to post your thoughts and variants. I am only worried about trend riders invading the thread since that's a whole different beast.
Please let us know how the 100 EMA works
Knowing price action, stop-loss hunting, market-sentiment, pivot points ideal reverse zone. i took 3 trades today from 9am UK time. Avoid the opens {image}
Look at this awesome performance from cpfleger:
You need patience to learn and un-learn.
{quote} "This is what I'm talking about, traders!" got in my head as well. Also: "The market is moving just as I predicted"
This is the problem that can appear and solve. {image}
Hi gerval! This looks like a VERY tough trend you got trapped into:
In my experience EURAUD (AUD in general) is very hard to trade using countertrend strategies, so you should stick to EURUSD and GBPUSD (or even GER-30)for now. They give enough trades to test daily. Look at the EURUSD M1 for the same period:
Looks much more manageable doesn't it? Truth is that some pairs chop better than others. I would never counter-trade GBPJPY for example! That'd be crazy.
Anyways, if you get trapped in a huge lean breakout, you have to keep adding small positions using the "9 EMA breaking the latest entry line" rule explained by the KoF and look for the 50, or even the 200 EMA for an exit! And don't overleverage. In this case you would be lucky to exit at a breakeven unless you increase your position sizes a bit.