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Professional Trading Strategy - student selection

  • #241
  • Feb 8, 2014 11:00am Feb 8, 2014 11:00am
if price is not random and if i knew the next move will give me 20PIPS for sure. i don't find any reason to skip. I will grab the 20pips:-)
  • #242
  • Feb 8, 2014 11:18am Feb 8, 2014 11:18am
Quoting exchange101
This is a "map" of the forex market! What if you knew where you are in the market, price and time wise, at one moment and where you are heading!? {image}
I try to catch every pip that the market give me.
  • #243
  • Feb 8, 2014 11:44am Feb 8, 2014 11:44am
Quoting exchange101
This is a "map" of the forex market! What if you knew where you are in the market, price and time wise, at one moment and where you are heading!? {image}
I will take it. Risks aside, if I want to wait for a bigger move it is because I want more profits but if knew price was going to move ~20 pips as stated in the picture can't I just trade bigger lots instead?
I want more brain power!
  • #244
  • Feb 8, 2014 2:40pm Feb 8, 2014 2:40pm
Quoting exchange101
This is a "map" of the forex market! What if you knew where you are in the market, price and time wise, at one moment and where you are heading!? {image}
Yes, I would take the 20 pips. My result so far , the 20 pips turn out to be very good. Every pip counts.

Tusco
  • #245
  • Feb 8, 2014 3:46pm Feb 8, 2014 3:46pm
If you are available to take the 20 pip, you take the 20 pip because that is what the market is offering. If u consider 20 pip as not enough for u than that could be seen as greed out putting yourself above the market.
  • #246
  • Feb 8, 2014 4:10pm Feb 8, 2014 4:10pm
For me, it would depend on the timeframe I was trading. Smaller timeframe - take the pips. Larger timeframe - may wait.
  • #247
  • Feb 8, 2014 4:19pm Feb 8, 2014 4:19pm
Quoting exchange101
This is a "map" of the forex market! What if you knew where you are in the market, price and time wise, at one moment and where you are heading!? {image}
I would take the trade.
  • #248
  • Feb 8, 2014 4:33pm Feb 8, 2014 4:33pm
Quoting exchange101
Let me show you something that at least 95% of traders say it can't be done or it doesn't exist! (EDIT: You won't achieve this with any indicator out there on the market, no matter how expensive it is) This is just a random small example. The markets are NOT random. Price is the same. There are NO time frames! {image} If you would know that a new trend / intermediary trend is starting right at that candle/price, would you exit with maximum profit your previous trend?
What you have mentioned " ACTUALLY " makes sense and if I was not in a previous trade but If I know that candle is change of trend I would enter the new trade right from the beginning and that would be the best ( Aha ) moment and bang on target right from beginning and maximum pips as profits .

There has to be something for big players to know. Is that the kind of candle one needs to know or Identify or any move or it has to be something which helps a successful trader identify the right trade. A 200 pip in one direction can be termed as " TREND " technically or a short term trend.

Something I need to learn or identify of course under your guidance. Anyways waiting for the right moment or right time.
  • #249
  • Feb 8, 2014 4:34pm Feb 8, 2014 4:34pm
On the market map question I would take the trade based on a few things happening.

1. We've hit a supply zone
2. We have spiked the supply zone, false breakout, and returned into the supply zone without seeing another bounce to go higher. Basically a hook back to the top of the zone and a bounce to go higher.
3. Once price comes down into the supply zone and engulfs the first consolidation zone to the downside I would look for a hook and bounce to the doenside which would be my trigger into a short trade.

I hope you can follow my logic without the chart but YES, I would take this trade short.
  • #250
  • Feb 8, 2014 5:16pm Feb 8, 2014 5:16pm
Take the trade, 20pips (200 pips) still a profitable option!
  • #251
  • Feb 8, 2014 8:32pm Feb 8, 2014 8:32pm
Yes of course I'll take the trade for 20 pips if in overall it has good risk reward ratio or accuracy, better if the setup happens quite often.
  • #252
  • Feb 8, 2014 11:40pm Feb 8, 2014 11:40pm
Quoting exchange101
This is a "map" of the forex market! What if you knew where you are in the market, price and time wise, at one moment and where you are heading!? {image}
If I know that the move is going to be 20pips, why wait for a bigger move all I need to do is to increase my lot size and go for the 20pips
  • #253
  • Feb 9, 2014 1:17am Feb 9, 2014 1:17am
Quoting exchange101
This is a "map" of the forex market! What if you knew where you are in the market, price and time wise, at one moment and where you are heading!? {image}
would definitely take the trade,since as far as i feel the biggest part of the trading decision is confidence . If we are confident of the direction of the trade it is definitely worth to take the trade.
  • #254
  • Feb 9, 2014 1:59am Feb 9, 2014 1:59am
Quoting vamp
If you are available to take the 20 pip, you take the 20 pip because that is what the market is offering. If u consider 20 pip as not enough for u than that could be seen as greed out putting yourself above the market.
EXCELLENT LOGIC!

We take what the market gives us. It may be 20 pips or 100 pips.
  • #255
  • Feb 9, 2014 2:02am Feb 9, 2014 2:02am
Quoting ozziedave
On the market map question I would take the trade based on a few things happening. 1. We've hit a supply zone 2. We have spiked the supply zone, false breakout, and returned into the supply zone without seeing another bounce to go higher. Basically a hook back to the top of the zone and a bounce to go higher. 3. Once price comes down into the supply zone and engulfs the first consolidation zone to the downside I would look for a hook and bounce to the doenside which would be my trigger into a short trade. I hope you can follow my logic without the...
Hello Dave,

TAKE THE TRADE is the right thing to do.

Sometimes, waiting for the price to return to the supply would make you lose a large portion of possible winnings sometimes.

This strategy teaches how to benefit ALL the pips, and follow the ENTIRE trend from beginning to end.

I was pleasantly surprised to see you are not pushed by greed! This is one of your most worst enemies in trading!
  • #256
  • Feb 9, 2014 5:27am Feb 9, 2014 5:27am
Quoting exchange101
This is a "map" of the forex market! What if you knew where you are in the market, price and time wise, at one moment and where you are heading!? {image}
I will definitely take the trade. 20 pips is not small number . Also if we are even little sure or our entry and hope to make profits why not take 20 pips even for a small lot size and preserve our capital for later part to enter trade at much better position.
  • #257
  • Feb 9, 2014 6:18am Feb 9, 2014 6:18am
hi

Yeh i would have taken the trade...as a win is win...be it small or big


Regards

Dennis
  • #258
  • Feb 9, 2014 7:17pm Feb 9, 2014 7:17pm
Hi

A little late with my answer as a busy weekend travelling. If I knew the move was for 20 pips I would take the trade. In this business of trading be blessed for everything positive that the market gives you and learn from the negatives.

Koh.
  • #259
  • Feb 9, 2014 9:27pm Feb 9, 2014 9:27pm
Hi,
I would take the trade. If I new that 20 pips was going to be there, I would definitely take the trade.

Paul
  • #260
  • Feb 9, 2014 9:57pm Feb 9, 2014 9:57pm
Quoting exchange101
everyone....please answer the question in the last image!
Just noticed this thread..
If I was certain the market would give me 5 pips, let alone 20, I would take it everytime.
My own trading is based around 15 - 30 pip moves at London Open, depending on the pair.
We all see the same dream, just from different viewpoints
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