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  • #901
  • Feb 16, 2024 10:39am Feb 16, 2024 10:39am
Quoting Inthebox
{quote} you are a fast learner. all your hard work paid off.
All credit goes to Rob, for his system that is easy to pick up and apply, to you and the other seniors of the forum who actively contributed and spent precious time to post your charts and clarifying my doubts, and quickly point out any mistakes I have made to prevent them turning into bad habits further down the line.

I'm relatively new to trading, so a system that is simple enough for an inexperienced "trader" like me to understand and iterate with practice really is one that checks many of my boxes. The me 1 year ago going through Babypips would never have thought all this is possible.

Rob mentioned that the system can turn $5000 into a million in a year some post back. I do not doubt his conviction in his system, but I'm going to take it a week at a time. The S&P index returns 10% annualised returns YoY for reference, even turning $5000 into $10,000 is very good progress (100% in a year).

As the saying goes, "Rome wasn't built in a day".
  • #902
  • Feb 16, 2024 5:44pm Feb 16, 2024 5:44pm
Hi Traders,
You have made me proud this week. I am starting to see you changing your belief structure to what is possible.
Remember to help not criticize each other. We are all so different yet seeking the same goal.
You are in charge, not the market, not the pro's.
Be prepared before you place any trade. You decide your entry, SL and exit based on the system and your beliefs.

Some info for you....
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Your trade order needs to be in the right place at the right time.
  • #903
  • Feb 16, 2024 10:48pm Feb 16, 2024 10:48pm
Quoting lolxhaha
{quote} All credit goes to Rob, for his system that is easy to pick up and apply, to you and the other seniors of the forum who actively contributed and spent precious time to post your charts and clarifying my doubts, and quickly point out any mistakes I have made to prevent them turning into bad habits further down the line. I'm relatively new to trading, so a system that is simple enough for an inexperienced "trader" like me to understand and iterate with practice really is one that checks many of my boxes. The me 1 year ago going through Babypips...
Rob has his reasons and motivation when he said that. Everyone needs his own reasons and motivation. We are not the same.

YES. start with $5000 and first turn that to $10,000 ... there is no pressure to make that in one year. It all depends on the market conditions.

From $10,000 to $50,000 is the next milestone .

Next, from $50,000 to $500,000 in 36-months cycle.... my latest challenge I gave myself. Learn when to "Cut-Losses-Short" and "Let Profits Run".


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #904
  • Feb 17, 2024 1:50am Feb 17, 2024 1:50am
Quoting emmanuel7788
{quote} Rob has his reasons and motivation when he said that. Everyone needs his own reasons and motivation. We are not the same. YES. start with $5000 and first turn that to $10,000 ... there is no pressure to make that in one year. It all depends on the market conditions. From $10,000 to $50,000 is the next milestone . Next, from $50,000 to $500,000 in 36-months cycle.... my latest challenge I gave myself. Learn when to "Cut-Losses-Short" and "Let Profits Run". ...
Hi Traders,
I would like at this moment to thank Em for the contributions to this thread. Always best to keep your feet firmly on the ground.
I made 536% one year and thought I could better it the following year. That following year I made 88%. You just don't know what is going to happen.
If you follow the system correctly the money will follow.
Everyone here is in a different financial situation and a different age.
Slow and steady wins the race, if you make 10% a month and compound it you will become very wealthy.
There is no rush and you won't go wrong following Em's advice on $ statistics.
Trade well.
Your trade order needs to be in the right place at the right time.
  • #905
  • Feb 17, 2024 7:36am Feb 17, 2024 7:36am
Quoting emmanuel7788
{quote} Rob has his reasons and motivation when he said that. Everyone needs his own reasons and motivation. We are not the same. YES. start with $5000 and first turn that to $10,000 ... there is no pressure to make that in one year. It all depends on the market conditions. From $10,000 to $50,000 is the next milestone . Next, from $50,000 to $500,000 in 36-months cycle.... my latest challenge I gave myself. Learn when to "Cut-Losses-Short" and "Let Profits Run". ...
why not go with prop firm instead?
  • #906
  • Feb 17, 2024 8:05am Feb 17, 2024 8:05am
Quoting lolxhaha
{quote} All credit goes to Rob, for his system that is easy to pick up and apply, to you and the other seniors of the forum who actively contributed and spent precious time to post your charts and clarifying my doubts, and quickly point out any mistakes I have made to prevent them turning into bad habits further down the line. I'm relatively new to trading, so a system that is simple enough for an inexperienced "trader" like me to understand and iterate with practice really is one that checks many of my boxes. The me 1 year ago going through Babypips...
Hi lolxhaha,

Wish you all the best. In my 4th month trading I came across InTheBox's price actions strategy (Over and Under / QM), he is a very good price action trader and have similarity with this method of Island's. I used this price action with limit orders (very close to how Island uses limit orders), but I then moved on to add 1 confirmation signal to better convert into an alert based trading system (TMS).

You are in a good start so I believe you can have a good account growth soon. Success starts from not failing. I think you are in very good start line compared with many traders who suffer from years of losing money and learn the hard way.

Now you have a good strategy, 2 cents on working on account growth.

1. Risk-based management - My personality is towards capital protection. I developed ways on how to control risk and risk of ruin. The first step is to prevent your account size go below deposit (i.e. first goal is not to lose a cent to the market). Focus on your risk first, then to step 2

2. Achieving a consistent ROI - Your trading will accumulate into meaningful statistics. Instead of a fixed $ or % growth, I would suggest going with %gain/%risk, like Profit Factor calculation. This information is independent of your account size/deposit, etc, and is truly assessing your trading performance. This is useful in finding out strategy based information such as alpha decay and consistency.

3. Earning a % / $ and scaling up - The ROI converts to actual profit $ based on your risk and account size. Once you have a consistent performance and you decided the risk management model, then scaling up account growth will simply based on risk per trade and account size.

I started with $2000, then $4000, then $25000 as deposit. Now is prop firm + personal account of $14k with capital from previous profit. This is a good evidence to myself that it can be done within 3 years. I believe you can do that or even better.

Good work.

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  • #907
  • Feb 18, 2024 12:05am Feb 18, 2024 12:05am
Quoting Islandfx911
Hi Traders, You have made me proud this week. I am starting to see you changing your belief structure to what is possible. Remember to help not criticize each other. We are all so different yet seeking the same goal. You are in charge, not the market, not the pro's. Be prepared before you place any trade. You decide your entry, SL and exit based on the system and your beliefs. Some info for you.... {image} {image} {image}
Nice charts! Please could you explain how to use the ADR indicator? I see ADR = 82.2 (10 days) Today: 73.2 etc
Please how can I use the ADR information in making trade decisions?
  • #908
  • Feb 18, 2024 12:29am Feb 18, 2024 12:29am
Quoting Apanche
{quote} Nice charts! Please could you explain how to use the ADR indicator? I see ADR = 82.2 (10 days) Today: 73.2 etc Please how can I use the ADR information in making trade decisions?
Hi Apanche, please refer to post#781 for a primer on ADR
  • #909
  • Feb 18, 2024 3:07am Feb 18, 2024 3:07am
Hi Traders,
I don't claim that I can tell the future but do any of you remember this post 649? (11 Days ago)
All I did was sit down on the weekend and prepare my charts for market open.
Take a look at AU.
Trading does not get any clearer or simpler than this. There are pages and pages of posts that use indicators that won't give you an edge over the market.
I don't often get pissed very easily but don't let this knowledge I have shared go to waste.
Get you're arse off the sofa get planning for the week and show me I did not waste my precious time here.
For those making the effort, well done.
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Your trade order needs to be in the right place at the right time.
  • #910
  • Feb 18, 2024 3:30am Feb 18, 2024 3:30am
Hi Traders,
AU for the start of this coming week.
If anyone is serious about 'Trading Without Indicators' now is the time to standup and get some charts on this thread marked up with your buy / sell zones for market open.
There is another trader from the UK I have recently trained in this system coming to this thread soon to assist lolxhaha.
Make an effort and you will get assistance from these guys.
If I can do it half dead, you should be able to do it with your eyes closed.
Go to the inthebox thread and learn all you can from there ITB is another trader that understands the big picture.
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Your trade order needs to be in the right place at the right time.
  • #911
  • Feb 18, 2024 4:10am Feb 18, 2024 4:10am
Quoting tommydoginti
{quote} Hi lolxhaha, Wish you all the best. In my 4th month trading I came across InTheBox's price actions strategy (Over and Under / QM), he is a very good price action trader and have similarity with this method of Island's. I used this price action with limit orders (very close to how Island uses limit orders), but I then moved on to add 1 confirmation signal to better convert into an alert based trading system (TMS). You are in a good start so I believe you can have a good account growth soon. Success starts from not failing. I think you are...
Thank you Tommy for your well wishes, and for sharing your personal journey in trading and thoughts on risk management. I am still in the midst of figuring out my personality for risk management and much of what you shared for point (1) resonates with me. I have always wondered what does profit factor mean as it is a metric that is available for my trading account. As a better objective measure of trading performance, I have since opened a separate trading account funnelling what I have gained from trading Rob's system as well as a small capital so it doesn't get muddied by other trades I have taken prior to learning the system. I have been advised by other traders to take up prop firms both as a personal challenge as well as a way to gain access to more capital once you have found your edge, at this point I don't think I am ready for that but I have it in my sights further down the line.

Thinking risk first before profits is a piece of advice I have heard from many other traders both on FF and off. Profits tend to take care of themselves once you have zero-ed in on risk, so that is also the main takeaway I got from your sharing. Best of luck to you and your trades, wishing you and all other traders a prosperous 2024, I hope we can look back at this post again towards the end of the year and do a review for this year
  • #912
  • Feb 18, 2024 4:34am Feb 18, 2024 4:34am
Hi Traders,
Please respect my wishes.
No further talk about prop firms, indicators or risk, this is a distraction to those here to teach and assist you in learning this system.
You are wasting their time when they could be helping some one asking the right questions.
What should you be focusing on?
Lets start the week by blowing out the old trading cobwebs / concepts out of your heads and start trading this system.
Forget about the money / trade size / risk, it is nobody's business but yours.
Trade with money that means nothing to you. if you hold a moneytary value on the funds you have placed on a trade you have already failed.
If you cannot use this system to change your financial situation for the better with your own funds, be it a $200 start or $200k start you might as well close the computer down now.
Your trade order needs to be in the right place at the right time.
  • #913
  • Feb 18, 2024 4:43am Feb 18, 2024 4:43am
Quoting tommydoginti
{quote} Hi lolxhaha, Wish you all the best. In my 4th month trading I came across InTheBox's price actions strategy (Over and Under / QM), he is a very good price action trader and have similarity with this method of Island's. I used this price action with limit orders (very close to how Island uses limit orders), but I then moved on to add 1 confirmation signal to better convert into an alert based trading system (TMS). You are in a good start so I believe you can have a good account growth soon. Success starts from not failing. I think you are...
Hi Tommy,
I appreciate your interest in this thread, however can you refrain from discussing account sizes, prop firms etc.
There are traders here that are new to trading and I want them focused.
I am okay with you posting your trades relating to this system or ITB system here, I am interested in seeing them.
You are trader that has knowledge of value to readers of this thread.
Maybe share and help others if you have time on any given day.
Kind Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #914
  • Feb 18, 2024 5:06am Feb 18, 2024 5:06am
Quoting lolxhaha
{quote} Hi Apanche, please refer to post#781 for a primer on ADR
Thank you.
  • #915
  • Feb 18, 2024 8:29am Feb 18, 2024 8:29am
My pre market analysis for USD/JPY
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  • #916
  • Feb 18, 2024 8:42am Feb 18, 2024 8:42am
Quoting Islandfx911
Hi Traders, AU for the start of this coming week. If anyone is serious about 'Trading Without Indicators' now is the time to standup and get some charts on this thread marked up with your buy / sell zones for market open. There is another trader from the UK I have recently trained in this system coming to this thread soon to assist lolxhaha. Make an effort and you will get assistance from these guys. If I can do it half dead, you should be able to do it with your eyes closed. Go to the inthebox thread and learn all you can from there ITB is another...
Thought I would have a go marking lines on 4 hour chart. I was looking left for touches of previous prices and carried them forward towards UK open on Monday?
Comment welcome.
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every Saint has a past. Every Sinner has a Future
  • #917
  • Feb 18, 2024 11:21am Feb 18, 2024 11:21am
[quote=Islandfx911;14760005]Bonjour Traders, AU pour le début de la semaine à venir. Si quelqu'un souhaite sérieusement « trader sans indicateurs », il est maintenant temps de se lever et d'obtenir des graphiques sur ce fil balisés avec vos zones d'achat/vente pour l'ouverture du marché. Il y a un autre commerçant du Royaume-Uni que j'ai récemment formé à ce système et qui viendra bientôt sur ce fil pour aider lolxhaha. Faites un effort et vous obtiendrez l’aide de ces gars-là. Si je peux le faire à moitié mort, tu devrais pouvoir le faire les yeux fermés. Accédez au fil de discussion Inthebox et apprenez tout ce que vous pouvez à partir de là. ITB est un autre trader qui comprend la situation dans son ensemble. {image} {image}[/citation]


Please Islandfx911 I would like to know if in an uptrend we only trace the supports and in a downtrend only the resistances
  • #918
  • Feb 18, 2024 3:06pm Feb 18, 2024 3:06pm
Quoting Islandfx911
Hi Traders, AU for the start of this coming week. If anyone is serious about 'Trading Without Indicators' now is the time to standup and get some charts on this thread marked up with your buy / sell zones for market open. There is another trader from the UK I have recently trained in this system coming to this thread soon to assist lolxhaha. Make an effort and you will get assistance from these guys. If I can do it half dead, you should be able to do it with your eyes closed. Go to the inthebox thread and learn all you can from there ITB is another...
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  • #919
  • Feb 18, 2024 6:51pm Feb 18, 2024 6:51pm
Quoting Islandfx911
{quote} Hi Tommy, I appreciate your interest in this thread, however can you refrain from discussing account sizes, prop firms etc. There are traders here that are new to trading and I want them focused. I am okay with you posting your trades relating to this system or ITB system here, I am interested in seeing them. You are trader that has knowledge of value to readers of this thread. Maybe share and help others if you have time on any given day. Kind Regards Rob
Certainly no problem. Just a heads up to lolxhaha and other new traders in case they want to catch up with your gain but overlook risk.

Back to your strategy. The similarity I mentioned is about how to interpret price around SnR.

According to your post #205 and #209, bearish wick candle with previous impulse up move and retest. Historical S/R is at ~0.6528
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In other posts I look at retest at area (similar to your “trade zones”) that has weak rejection compared with the last move. Coupled with multiple retest of same area with higher low formation, there is a good chance the level will break and S/R flip will occur.

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No matter it is a true break out trend or fake out the trades are in profit to close at TP / manage exit.

trade well
  • #920
  • Feb 18, 2024 7:09pm Feb 18, 2024 7:09pm
Quoting tommydoginti
{quote} Certainly no problem. Just a heads up to lolxhaha and other new traders in case they want to catch up with your gain but overlook risk. Back to your strategy. The similarity I mentioned is about how to interpret price around SnR. According to your post #205 and #209, bearish wick candle with previous impulse up move and retest. Historical S/R is at ~0.6528 {image} In other posts I look at retest at area (similar to your “trade zones”) that has weak rejection compared with the last move. Coupled with multiple retest of same area with higher...

@tommydog....

IF you have the trading skills and say 30+years experience to grow an account of $10,000 to $50,000, you need to take bigger risk. Your risk is not realistic took a few trades .... but when you study that over 1,000 trades you will learn the hard truth about taking risks. You studied statistics at Hong Kong polytechnic you should know what is the optimum sample size.

Professional traders control risk and they are not afraid to take risks. The problem with small time retail traders like you is the FEAR and GREED emotions which are overwhelming when you are trading with money from you day job.

Anyway here is AU Weekly, there will lots of trades opportunities this week ... but first check the economic calendar and know when to take bigger risk for those +9R to +12R trades.


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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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