DislikedThank you for sharing and being open about your trading experience. But can i ask that we keep all personal issues (private jets, boats, phone numbers, mansions etc) away from the thread.
I was just outlining my past experiences about how I arrived here and offered up an open invite to all in my neck of the woods. Sorry if it came off as being snobbery. I will try to delete my number and cancel my invite. I was very fortunate to have meet certain people who took me under their wings earlier in my career and was going to try to give something back. I realize that there are a lot of pretenders and bad apples out there so I gave the invite for all those in my area to come on by and see what trading is and what it is not about.
My basic/ core trading rules as promised with some thoughts.
1. I take 1 hr b/o's on the major pairs. eur/usd, gbp,usd, usd,chf, usd/jpy.
2. I start trading between 2 and 3am est. -the worst part of the business!!
3. I use a sma to act as a filter.
4. Reaching a 1:1 I take half off.- this is the real key here!!.
5. Once out of the box I trail the remainder.-Key Part!!
6. Start out at beg. of year using 1/2 units.(never risking more).-key!!
7. Once in the black by 15 percent(closed profits) I'm willing to ramp up to 3/4 units.
8. When I do add on it's 1/8 and 1/4 units only.Not key!!Only if your a pig like me and unusual events warrant such a measure.
9. I trade to 1pm.
10. I trade through Interactive Brokers using Bracket Trader as a front end.
11. Charting package is FXPro meta trader.
12 I always do the hardest thing and take all trades.(especially in chop)..
13. My definition of a inside bar can have one of the inside tails equal the previous H/L.
14. Never let the losses get to you.-Leverage down until you find your comfort level.-This is a must!! If you can't do this go get a job.
15. Seek psychological therapy when ever possible.(only kidding) but pro bally could help a great deal.- Win rates mean nothing. I avg 34 % for the last decade. Most profits will be made on less than 5% of trades.
16. Learn to play the game at whatever level your comfortable with. Even if it means scaling down to .001 per pip. Once you get it you will start to build a track record and the money will follow you. Then you will make a generous career livelihood out of it.
17.In the end the game is simple yet beyond the reach of most. My best advise is to spend 2 to 4 hours a day back testing by hand for months. This seems to make the difference between those that make it and those that don't. You must learn to accept what the markets give you. It not about you.-What do you think??