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The best way to trade is one trade a day

  • #61
  • Apr 4, 2010 5:41am Apr 4, 2010 5:41am
arbitary SL and maxtrades per day have noooo relevance to eachother at all

how do ur thought processes work to even come to that?

go back and read, learn...limiting trade frequency has clear advantages this is NOT a market of fixed odds i.e. you assume x win rate so take as many trades as possible...it's just dumb and not practical at all
  • #62
  • Apr 4, 2010 5:43am Apr 4, 2010 5:43am
Quoting moneymaker2
Thursdays are typically when unemployment numbers come out, and they tend to shake things up a bit...might want to see if that is a factor, too.
Thanks MoneyMaker
  • #63
  • Apr 4, 2010 6:31am Apr 4, 2010 6:31am
Quoting stressfree
slower way to lose?


I have no idea all i know is since 2010 I have made profits every month and some days over 100 pips. My losses are capped. so I know the most I can lose each session, which i love as well. No 100 pip losing days either. Each to his own. But i am loving this way. Trade to live not live to trade.

Good luck.
How do you enter and exit trades ? Are you gonna share with us?
  • #64
  • Apr 6, 2010 2:39am Apr 6, 2010 2:39am
Quoting stressfree
Hi,

I have found the least stressful way to trade forex is to make one trade a day. win or lose. Trail the stop. On good days I make over 100 pips one trade exit late on. Obviously bad days I am out with a loss and usually early on. But there hardly any screen time. So far it's been very porifitable.

The more often I trade the more often I seemed to lsoe money.


if you say one trade at day it doesn't say anything about the volume of your trade. you can trade just as one order with a big lot at a day or you can trade as several few orders every day. what you are talking about is actually about money management. so what is important here is having a permanent strategy based on some rules which help you trade with several orders. and what is more important is that you can keep your orders open for several days, weeks or even months this last one is one of the best ability to be a good trader as professional traders are.
  • #65
  • Apr 7, 2010 3:56am Apr 7, 2010 3:56am
I trade a day with a 1.0 so far. When I get the account up i'#ll increase it to a 2.0 lot and upto a 3.0 maximum. (I invest money elsewhere). Looks like I have a losing trade today....we'll see.

Here are my recent trades:
+120
+105
+13
-40
-1
-21
Mon 28th +2 Tuesdsay +17


April

Wed +17
Thursday +62
Friday +42
Monday +12
Tuesday -10

W:10 L: 4
  • #66
  • Edited 4:31am Apr 7, 2010 4:15am | Edited 4:31am
Quoting Sim
arbitary SL and maxtrades per day have noooo relevance to eachother at all

how do ur thought processes work to even come to that?

go back and read, learn...limiting trade frequency has clear advantages this is NOT a market of fixed odds i.e. you assume x win rate so take as many trades as possible...it's just dumb and not practical at all
Cleary, for an amature this would make sense to i.e reduce the physiological stress. Having a limited trading-frequency is desirable of course, but it should rather be based on signals created by your system and if you have traded for a fews years, you should have learned to only pick those very best setups, IMO.
Measure twice, cut once
  • #67
  • Apr 7, 2010 7:52am Apr 7, 2010 7:52am
I agree with aediaz, it's good idea at the beginning, but as a forex trader, you need to increase your resistance on stress day by day.
But also I found it interesting in medium-term trading, where patience is crucial for success.

BTW: I'd like to welcome you all, guys. That's my 1st post.
  • #68
  • Apr 7, 2010 9:29am Apr 7, 2010 9:29am
Quoting stressfree
Hi,

I have found the least stressful way to trade forex is to make one trade a day. win or lose. Trail the stop. On good days I make over 100 pips one trade exit late on. Obviously bad days I am out with a loss and usually early on. But there hardly any screen time. So far it's been very porifitable.

The more often I trade the more often I seemed to lsoe money.
If you trade once a week then it will take even longer for you to realise that you have no edge and longer for your account to twindle to 0. This is based on your statement of "The more often I trade the more often I seemed to lsoe money".
Economists have forecast 9 out of the last 5 recessions
  • #69
  • Apr 7, 2010 10:39am Apr 7, 2010 10:39am
I remember when I first started out, the idea of stress-free trading was a fantasy of mine. I quickly came to realize that when my own money on the line it's best to be proactive. At times I do still hold that dream but, it's only a dream and not reality.

I find, that those who are laxed in their trading never grow. Never experienced new methods and doesn't have a grasp of the physiological element of trading. Sure I would like to see the world as a better place ... but if I don't grasp the true, hard reality of this world then I'm not going to survive. Everyday we wake up, we face all too many variables of the end. The same goes for trading. If you want to survive in life and this trading game you need to be proactive.

"Never get comfortable"
  • #70
  • Apr 8, 2010 2:38am Apr 8, 2010 2:38am
well if you do not agree with mty method that's your choice no one is forcing you to. It works for me.

"trade to live..not live to trade" Each to is own. I have a life loutside of watching prices all day long. Good luck
  • #71
  • Apr 8, 2010 5:28am Apr 8, 2010 5:28am
Quoting stressfree
well if you do not agree with mty method that's your choice no one is forcing you to. It works for me.

"trade to live..not live to trade" Each to is own. I have a life loutside of watching prices all day long. Good luck
I agree with you. Less trade is better. Especially for "market open breakout" traders like me. One trade is all I need a day. Wait for signal, pull the trigger, wait to move SL to breakeven, go elsewhere with TP intact. Wash, rinse, repeat everyday.

In hindsight, we see a lot of opportunity to trade, but the truth is, high-quality opportunity doesn't happen very often. Not all moves are tradable. Not all moves worth trading.

I only trade non-news strong breakout. So strong that my 15 pips SL in Cable rarely got hit before I manage to move my SL to breakeven. Combine that with a 1:2 (risk:reward) ratio for every trade ... you will make money.
When my 15 pips SL got hit ... I lose 2% of the account only. If I win, I got 4%. For aggressive traders, they can lose 4% or make 8% per trade (1:2)

Moral of the story, trade breakouts ..
  • #72
  • Apr 8, 2010 6:23am Apr 8, 2010 6:23am
Quoting luqmanz
I agree with you. Less trade is better.
Moral of the story, trade breakouts ..
Can I refer you here: http://www.forexfactory.com/showthread.php?t=34662 where I have been waiting patiently?
Gone to a better place
  • #73
  • Apr 9, 2010 4:15pm Apr 9, 2010 4:15pm
The less exposure you have to the market, the better off you are.
All that is left in FF is just plain garbage. "Cloggie"
  • #74
  • Apr 9, 2010 5:43pm Apr 9, 2010 5:43pm
Quoting luqmanz
I agree with you. Less trade is better. Especially for "market open breakout" traders like me. One trade is all I need a day. Wait for signal, pull the trigger, wait to move SL to breakeven, go elsewhere with TP intact. Wash, rinse, repeat everyday.

In hindsight, we see a lot of opportunity to trade, but the truth is, high-quality opportunity doesn't happen very often. Not all moves are tradable. Not all moves worth trading.

I only trade non-news strong breakout. So strong that my 15 pips SL in Cable rarely got hit before...
Consistently identifying breakouts is the essence of profitable trading. If you're really, really good at this, I would suggest loading up; not pussyfooting around.
They call me "Hondo"
  • #75
  • Apr 13, 2010 5:24am Apr 13, 2010 5:24am
may be you just trade when there is good activity and timesessions are opened. another time the activity is lower and it seems that trade is more profitable.
  • #76
  • Apr 13, 2010 8:15am Apr 13, 2010 8:15am
Quoting stressfree
well if you do not agree with mty method that's your choice no one is forcing you to. It works for me.

"trade to live..not live to trade" Each to is own. I have a life loutside of watching prices all day long. Good luck


What are the rules? How do you decide long or short? Where do you put the SL & TP?
  • #77
  • Last Post: Apr 14, 2010 5:06am Apr 14, 2010 5:06am
Just had a couple of big losing days but today is a winner...obviously hoping for more....It's no Holy Grail.The best thing is ONE TRADE A DAY.

Maybe I should buy one of those "robots" that will make me a millionaire in 6 months ?
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