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Professional Trading Strategy - student selection

  • #101
  • Feb 1, 2014 4:13am Feb 1, 2014 4:13am
Quoting exchange101
{quote} Tell us ozzie, what's your best month (in pips)?
I've had months where I've made 300 to 500 pips and I've had months where I've lost just as much. Just for the record I'm using lower TF charts mainly 1, 5 and 15 Minutes to trade. That is where the consistency part comes in. It would be nice to consistently make more than I lose. I guess that's the dream of most Forex traders. I just maybe a bit ahead of most as I have put in alot of time and effort into my trading.
  • #102
  • Feb 1, 2014 4:22am Feb 1, 2014 4:22am
Quoting hollowhead
I think there is certainly an element of inevitability about trading. I cannot accept that it is random. Looking at any chart you can see 'intention'. The problem for those of us who are not 'big players', the intention is visible after the fact, but the parameters behind the intention often still remains a mystery. So we use candlestick patterns, fundamentals, indicators and S/R to try and decipher it, but my feeling is there is something else. I don't think there is a conspiracy, but there is a piece to the puzzle the eludes many.

I strongly agree with HOLLOWHEAD that the market is not random, there lies "INTENTION" and these intentions are patterns in alignment with other numbers ( Fib. numbers) But I am open minded anyway, I still love learn from you
  • #103
  • Feb 1, 2014 4:29am Feb 1, 2014 4:29am
Quoting exchange101
Strategy no 2 is a little more complicated as I said before, but it is rewarding. I can identify (mathematically) the points circled in the image below: {image} Haven't you wondered before how 'big players' and those extraordinary competitors in some forex contests can achieve thousands of pips and their entry points and exit seems so unreal? That is why my strategy is not for sale for everyone. I think a maximum of 3 people would be enough to take this forward. P.S. If some of you are thinking that after I choose you, you will be able to sell anyone...

Excahnge101 if u can predetermine those entry and exit point mathematically would U still say that there exist randomness in the market?
  • #104
  • Feb 1, 2014 4:30am Feb 1, 2014 4:30am
Quoting exchange101
Strategy no 2 is a little more complicated as I said before, but it is rewarding. I can identify (mathematically) the points circled in the image below: {image} Haven't you wondered before how 'big players' and those extraordinary competitors in some forex contests can achieve thousands of pips and their entry points and exit seems so unreal? That is why my strategy is not for sale for everyone. I think a maximum of 3 people would be enough to take this forward. P.S. If some of you are thinking that after I choose you, you will be able to sell anyone...

Excahnge101 if u can predetermine those entry and exit point mathematically would U still say that there exist randomness in the market? Just curious
  • #105
  • Feb 1, 2014 7:58am Feb 1, 2014 7:58am
Quoting otnishan
hi, exchange 101 let me summarize ur strategy 1 n 2, u use pa n order flow to determine your entry n exit point.do you use information outside the chart to determine orderflow/money flow?who is in n out?from where did you get that information? how do you determine price will go up or down? i see that you use break out of consolidation in m1 chart,in timing them to entry,but how could you timing them?with every data showed up on the calender news?central bank's president speech? there was rumour that dealer do stop hunting,how to make sure if price...
Not a big fan of fundamental analysis, though I always have my eye on upcoming big news. Do not trade based on them.

If you would be so kind and read carefully the thread from post 1 forward you would see that I personally like M1 charts...strategy is used on any time frame just as good.

Q: Does brokers hunt stop losses? Yes
Resolution: change your broker with an 'honest' one!
  • #106
  • Feb 1, 2014 8:00am Feb 1, 2014 8:00am
Quoting ozziedave
{quote} I've had months where I've made 300 to 500 pips and I've had months where I've lost just as much. Just for the record I'm using lower TF charts mainly 1, 5 and 15 Minutes to trade. That is where the consistency part comes in. It would be nice to consistently make more than I lose. I guess that's the dream of most Forex traders. I just maybe a bit ahead of most as I have put in alot of time and effort into my trading.
Glad to see you are not giving up! I admire people who persevere!

Discipline.... Professional Strategy in trading ... Consistency!
  • #107
  • Feb 1, 2014 8:01am Feb 1, 2014 8:01am
Quoting sepramfx
{quote} I strongly agree with HOLLOWHEAD that the market is not random, there lies "INTENTION" and these intentions are patterns in alignment with other numbers ( Fib. numbers) But I am open minded anyway, I still love learn from you
Random... Oh NO!

During news ... maybe! but not quite
  • #108
  • Feb 1, 2014 8:09am Feb 1, 2014 8:09am
Quoting otnishan
hi, exchange 101 let me summarize ur strategy 1 n 2, u use pa n order flow to determine your entry n exit point.do you use information outside the chart to determine orderflow/money flow?who is in n out?from where did you get that information? how do you determine price will go up or down? i see that you use break out of consolidation in m1 chart,in timing them to entry,but how could you timing them?with every data showed up on the calender news?central bank's president speech? there was rumour that dealer do stop hunting,how to make sure if price...
Hello otnishan,

The charts posted by me are taken from MT4 for explanation purposes only.

My chart looks so much different
  • #109
  • Feb 1, 2014 8:10am Feb 1, 2014 8:10am
Question for EVERYONE:


DO YOU USE STOPS?

If no, why not?

  • #110
  • Feb 1, 2014 9:55am Feb 1, 2014 9:55am
Yes I always use stops to minimize risk! (MM)
  • #111
  • Feb 1, 2014 10:15am Feb 1, 2014 10:15am
you mean orders buy stop and sell stop right ?

By the definition buy stop is used above the current price and sell stop below, I put the orders just above or just below some major level with some room for fake breakout,
Iīd put buy stop few pips above some resistance level, like previous day high, above i mean + cca 10 pips
Iīd put also sell limit, just below the resistance to be sure to catch the retracement
Sometimes the highs follow a trend and if i see second high is a bit higher than previous, i anticipate the next resistance again a bit higher, so the buy stop would be +10 to keep up with the trend and +another 10 the room to breath and then i anticipate breakout. the sell limit would be just +10 pips from previous,
I am not sure i made myself clear but it all depends on the current market situation: the new PA can be totaly new pattern never encountered before.

Regarding stop losses,if you donīt put sl its like if you donīt flush the toilet , again respecting the volatility of the market ,for example EURUSD highest volatility by statistics is on thursday, and within day its on London open, and also during NY-LO sessions, so the SL have to be bigger.

For example pair like GBPJPY have much higher volatility then other major pairs as a result of contramovement of GBPX and JPYX, so the sl have to be even bigger.

It also depends on the strategy and bla bla bla.... you get the picture

David
  • #112
  • Feb 1, 2014 10:19am Feb 1, 2014 10:19am
Quoting exchange101
Question for EVERYONE: DO YOU USE STOPS? If no, why not?
My strategy try to find a key level where i can say:" Or the market go down or up". For this reason i don't use stop but i use pending order on opposite direction for hedging the trade and i re-enter in the current direction after some pips and confirmation. .
  • #113
  • Feb 1, 2014 10:50am Feb 1, 2014 10:50am
On a professional's traders screen!

(Among stochastic s and other indicators there is always something else which probably passed unobserved by most of you who have seen such a screen.)

Could you show an example or possibly explain what it is please I have never seen a professional's screen!
  • #114
  • Feb 1, 2014 11:32am Feb 1, 2014 11:32am
Quoting Mickeyf
On a professional's traders screen! (Among stochastic s and other indicators there is always something else which probably passed unobserved by most of you who have seen such a screen.) Could you show an example or possibly explain what it is please I have never seen a professional's screen!
As I believe everyone understood the essence of my sentence, try to take as it is in the way of 95% of traders lose capital, at least in the long term.

Who is making money from this game? Where does your lost money go? To the professional traders. If a professional trader managed to use, let's say, Fibonacci to have excellent winnings - good. Banks, big players... not quite using Fibonacci... (please do not read literally only Fibonaci, you can replace with S/D, stochastics, etc)
  • #115
  • Feb 1, 2014 11:33am Feb 1, 2014 11:33am
I will try to move the discussion to a private group from tomorrow or Monday at the latest, not before giving another example here and asking for your opinion.
  • #116
  • Feb 1, 2014 11:41am Feb 1, 2014 11:41am
Quoting exchange101
Question for EVERYONE: DO YOU USE STOPS? If no, why not?
It depends on the strategy. One stragey I use gives me hard targets and when I am 100% convinced about the inevitability of a target I will use an opposite pending to hedge - this is simply to avoid heavy DD - this has worked well for me. But for some other strategies I use a stop a NEVER move it.
  • #117
  • Feb 1, 2014 12:54pm Feb 1, 2014 12:54pm
Poor disicipline but improving...slowly.
Not very smart but work very hard
Very interested in subject of FX trading

Stops YES for the "text book" reasons and NO if not using "indicators" because before trade, analysis is already done I should already know what to expect, good and bad. With disicpline and ego under control I should be able to see warning signs to tell me to exit. Not sure how to phrase this in a better but hopefully it makes sense
I want more brain power!
  • #118
  • Feb 1, 2014 12:59pm Feb 1, 2014 12:59pm
Quoting Koh Samet
Hi Exchange101 Here is my trade analysis/logic on your example. My entry points are more conservative than yours as I wait for close below level. I like it best when price retraces into zone and is rejected. It shows me that the big players are protecting their new positions. My initial stop is placed beyond latest swing. I use the high for the 100% fib level and place the 32% fib on my enter level and project forward my fib levels with extensions(s). I would close out position if price retraces above 2 fib levels. Price will retrace but if the...
Nice answer
I want more brain power!
  • #119
  • Feb 1, 2014 2:52pm Feb 1, 2014 2:52pm
Hi exchange101

I subscribe

Tusco
  • #120
  • Feb 1, 2014 4:10pm Feb 1, 2014 4:10pm
Exchange

I use stops most of the time but there I times I don't.

Yes, I believe brokers hunt stop losses by manipulating the price feed to their platform by a few pips here and there. More importantly big players hunt stop losses as they need to find liquidity to buy and sell into so they are looking for areas where the retail market places their stops.
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