The magical mystery tour of the divine markets

Cat's only draws cats

Stale Wind is done by using your brain, no indy allowed, unless some kind person would like to program the EA?

I've got a Mars Bar wrapper you can have as payment?

I would ask, but after the last year's events he's not talking to me...

Yes, cats template and indicator.

What do you want it to draw?

I can make it draw Wizards and Pixies if you want?

An indiCATor should draw cats, I think.

A thread can never have too many

Number 18

Passive-aggressive trading

http://www.forexfactory.com/showthre...97#post7321297

Love it, love it

http://www.forexfactory.com/showthre...16#post7321316




Dragon

That's all I'm saying



And he doesn't even trade H4 engulfs

His understanding of the market would blow you away, you took 1 part of what he does and c0cked it up

Magic H4 engulf and retrace entry on M15 engulf and hold for 300:1



He's a scalper you t1t

I won't be too harsh 'cos I went on someone else's thread the other week, not to call him a c0ck and say 'my method is better xyz' but to actually say 'well done but your view of engulfing bars is just a bit short sighted', needless to say he didn't like it. We don't like having our cosy view challenged do we? I'm just the same. If that's where someone is presently with their understanding, fair do's. Just don't go pretending to be yet another GURU.

Don't think I'm trading what happened in the past. The past just shows potential price levels.....

Did an H4 engulfing bar happen in the present? Or did it happen 4 hours ago
Ever wonder how sometimes the market rises from the low on your 4 hour chart but....there's no engulfing bar. How can this be possible??

Feckin Magic Bars.

GIVE ME STRENGTH!

The only thing the pages of Nison are good for is wiping your arris on.

Note, yet again for the fekin stupid:

I am only showing 5 minute trades LIVE so something can be shown. Not 'this would have happened if I entered here and held for 12 million pips'.

Also: for the fekin stupid. Consider this: PROBABILITIES

Also: for the fekin stupid:

I advocate having a plan: a plan is not 'enter here, exit here' a plan is having a map of the market based on a hypothesis of how the market moves, then trading it on the basis of what is happening NOW. If the market does this I will do...??? If the market does this I will then??? I will know when it is prudent to enter given risk parameters, I will know when it is prudent to hold, I will know when it is prudent to get out.

I advocate proper positioning

I advocate safety

I advocate minimal risk

I advocate getting your lot size up until you get a migraine

I advocate extracting more 'pips' from the market than apparent pips movement

I advocate trading the large chart from the small chart

I advocate trading between 2 levels, ON THE LARGE CHART but watching the trade develop on the smaller chart and knowing what to do if it doesn't go to plan

I advocate knowing what the heck you are doing if you are going to trade very small charts: hey bullish engulfing hourly candle above the daily open, let's trade the breakout of the high straight into supply at London Close when price has already done its daily range....bound to work with 1% of my hard earned capital placed at risk exactly where they're likely to take the market to ..

Maybe if u show some space management he would see the exponential profit side. Would be nice to see a week trading sequence from 1R to 10R and how u managed position size. Or is that 12000$.

Yah that dragon is something else

Speaking of EA's and indicators for this "system", how about a TE?

By the way I am not trying to be antagonistic, my questions are sincere.

Space is just an ear in the middle of your forehead

A TE for a joke thread that says it's all bo11ocks

You need 'proof' that it's all b0110cks?

There is no "system"

Those looking for "system" are automatically in the 95% go straight to jail do not pass go

Nice one

lol okay, i was referring to space as what u would be doing adding to a position but keeping the stop safe distance away kind of thing. I guess I should have said show proper position management and he would see the exponential growth.

I haven't got 12000 the wife won't let me have it. It all gets p1ssed up the wall on shoes, handbags and adding another 6 inches to her arris with chocolate.

It's down to YOU how YOU trade it and what rules are used: The plan can be a % target. The plan can be to a max out leverage and then hold for the big win etc.

Space management is a head trick all stolen from someone else, also stolen from someone else by someone else who tries to sell it as a course. What a surprise

It's exactly what sh1t for brains was spouting about: holding off on short term gratification to make large gains. It is, however, not about making random entries off H4 bars, holding and hoping for 10:1 R:R. You can keep hitting 10:1 outliers? Why aren't you doing it at max leverage?

You split the trade account into risk and capital. The majority is kept in capital, always, which is required to fund margin: this is why 'enter 30 trades and hold forever' is nonsense. Margin requirement?? Or are you an over-leveraged fool using more than 20:1?

Probabilities.

The probability of hitting a number of trades that make smaller R multiples is MUCH higher than those making large R multiples. Teh XXX is predominantly a range market designed to f'k over all participants - see H4 chart I posted and say it ain't so...then go learn some more about WHY and how those pretty bars are forming and why and how they have wicks that go to certain places and why sometimes one makes an engulf and why sometimes it looks completely different. It's actually all written somewhere already in the load of old b0ll0cks called THIS THREAD


A trade is not a trade

What???


A trade is not a trade. It is but one part of a trade sequence, which is a trade.

The first trade in a trading sequence is the one which carries the largest risk and the smallest reward. Whereas the last trade is the one with the smallest risk and the largest reward.

E.G.

You wish to risk 1% of YOUR hard earned money.

On trade 1 of a sequence you are risking 1% of YOUR money. If you only view trades as risking X% of your entire balance this is BAD, because you are always risking YOUR own money. You are constantly seeking short term gratification by immediately putting the proceeds of winning trades into the 'mine' side of the ledger and giving yourself a nice slap on the back and a huge mental and financial handicap in the process.

Rather you should be patient and leave the money with the market. The winnings belong to the market and in the risk side of the ledger until YOU decide YOUR goal has been met. It is much easier to put money that is not yours at risk. Is trading OPM not part of the HOLY GRAIL?

Kick the market in the b0ll0cks with its own money! It deserves it.

If you constantly put the winnings in the MINE side of the ledger, every time you lose, you lose 1% of YOUR money.

This is BAD BAD BAD. You are constantly putting your capital at risk (bear with this!), it is BAD for your confidence, BAD for your account health and BAD for growth potential.

You know based on past performance that you have a good win rate with your trading method and the probability is reasonable that you can get a run of 4 to 5 winning trade entries: this is on the basis of a stop placed fairly close to your entry....would it be higher still if the stop was placed further away? (But that's inverse R:R, sacrilege!)

Now, assuming trade 1 goes somewhere near target - lets say it was today's 5 minute trade I showed which took 4R. OK let's say it made 3R. I now have my risk R + 3R of the market's money to play with.

With this additional 3R I have choices - I can size and position for safety, moving my stop further away or I can size for aggression by increasing lot size.


OK, the market is ranging presently and I need to increase my lot size before thinking of anything else - I go for safety.


Going for safety I can keep the same entry risk of 1% and move my stop further away from the market - I have an idea where I wouldn't like price to go but I can to some extent mitigate against getting hit with a news spike etc. If it goes totally wrong I still only lose 1% of MY money. i.e. I am injecting winnings into my stop. As my stop is further from the market I can make better decisions re exiting the market before my stop is hit if the trade goes against me.

I never physically move my stop, not ever.

So trade 2: much less stress this time: same entry method etc but as I made 3R I've chosen to invest 2R realised into my stop and 1R realised into my position size.

etc etc

etc

More on the example:

After two or 3 trades I can, if I so wish, at the expense of larger size, take the 1% initial risk of my own money out of the risk side of the account and be trading purely with the market's money. Then, even if I lose it all, I will not lose a penny of my capital.

So, I can continue trading for safety, OR I can use realised profits to inject into my position size and max out my leverage. Whatever I elect to do I am STILL only risking 1% of my capital.


I can only increase size until I hit the maximum margin requirement on the account and am maxed out on leverage. That is ultimately the goal.
Then and only then is when I consider holding for fantasy trades that go to 6-7-8-10 R. I can't trade any larger size, so now is the time to try to attain maximum pips.

If it goes wrong and the entire position is wiped out I still only lose 1% of capital (unless I removed it from the equation prior, in which case I lose nothing)
If it goes right a large number has been added to the account.

If I'm not electing to go for those fantasy trades I have other rules in place for example: everything on the risk side goes back into the capital side on a weekly basis or I realise profits after N trades etc.

If on the other hand the sequence was not successful, depending on how managed, if the 1% capital was lost then obviously another 1% of capital has to be utilised...but if money remains on the risk side of the ledger, that can be re-sized and re-utilised for another trade sequence.

How and when money moves from one side of the ledger to the other is purely down to YOU.

Shorter term trades with small size leading to longer term trades with large size.

Holding off on gratification today for larger rewards tomorrow.

WHAT is YOUR plan for the trade
WHAT is YOUR risk management plan for the trade
WHAT is YOUR trade management plan for the trade


Or just keep punting H4 magic bars under the illusion you're holding off on gratification, when you're doing the total opposite. YOUR hard earned capital going (what's the probability on 10R punts? 20%? less?): -1%, -1%, -1%, -1%, -1%, -1%, lets be kind, +5%, -1%, -1%, 0, -1%, -1%, -1%, -1%, -1%, 0, +3%, +10%, -1%, -1%, 0, -1% etc.

Can you see how this is going to kill your confidence?

Can you see that you can read as much about psychology and discipline as you like but if you don't play tricks with your mind you're going to destroy yourself.

Your margin is reducing and your mind will NOT allow you to hold for mythical 10R trades because you've got to win some money SOME time etc etc. You are not superhuman. Losing YOUR money hurts. it hurts a LOT.

Going back to the pros.

If a desk trader at CME has a bunch of orders to put through.......oh no....that's nothing to do with risking 1% and getting 10% in one go.

10:1 R:R Now that IS greed and that IS short term-ism.

Your magical engulf looks like something on the M5 or M15 chart if you care to look. Just have a quick look, it won't kill you.



In the interest of balance:


Its all total b0ll0cks

Hi nunrgguy,








This thread is getting more and more dead serious. Especially your last post. Keep up your good work cleansing of the temple, get rid of the money changers like Jesus did.

Ohhh okay, well for a minute I thought you were attempting to take yourself seriously, so now that we know that this is joke thread propagated by a joker, then by all means, carry on!