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Trading around the world

Hello Rolf,

Great thread! About the U/J trade, where did you set your SL when you entered the position?
Quoting andrei.z
Hello Rolf, Great thread! About the U/J trade, where did you set your SL when you entered the position?
Thank you Andrei. It always makes me so happy to hear that people like my thread and twitter and find value in what I am sharing here.

I got the SL place from the D1. There were a 50 SMA, a 100 SMA and a FIB level clustering just around 15 pips above my entry. My general rule is to find at least 2 'things' that are between my entry and the SL. These can be previous S&R, swing high/lows, MAs or Fibs.

Have a good weekend.
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Learn from yesterday, live for today and hope for tomorrow.
Haters gonna hate. I knew this but people have been attacking me recently in greater frequency, stating that I am scam and why I hang around here actually.
My intention was (and still is) to give a different perspective to trading. I want to show that it's not only about entries and exits and the holy grail system. Trading is more and this is what the glamorous world of fx trading NEVER shows. General fx educators are trying to lure in the consistently losing retail trader, promising THE way to trade and to finally make it in this business. But, trading does not work this way and in the end, only the teachers will make money because they view they provide on the trading business is as far from reality as it gets.
I never claim to be THE super trader. I am just a guy how spent a lot of thoughts on trading and what it means. I live a concious live and following my dreams. I usually never share my equity but I am attaching my personal equity development straight from my platform here. This is a snapshot from my last 50 trades. You can see, I am far from being a perfect trader. Although I always try to cut losers, sometimes I take too big losing trades and I still cut winners too early sometimes and being 28, having an exposure in a single trade equaling to what I used to make in a few months, is not so easy to grasp sometimes. BUT what is important is to come out ahead in the long term. It is important not to get too hung up on a few individual trades. It's about constant improvement and working on yourself.
I know from first hand experience that trading can be frustrating, upsetting and put you down. BUT it does not have to be this way. I just want to share my insights that I gained from developing from a constantly losing trader into a trader that is actually living solely from trading. I want to show that it is possible but it's not possible with the general mindset that retail traders usually have in FF. That's my mission!
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Learn from yesterday, live for today and hope for tomorrow.
Quoting TraderRolf
Haters gonna hate. I knew this but people have been attacking me recently in greater frequency, stating that I am scam and why I hang around here actually. My intention was (and still is) to give a different perspective to trading. I want to show that it's not only about entries and exits and the holy grail system. Trading is more and this is what the glamorous world of fx trading NEVER shows. General fx educators are trying to lure in the consistently losing retail trader, promising THE way to trade and to finally make it in this business. But,...
Go for it. F*** the haters. Your approach to trading is no-nonsense no-bullshit and a lot of people are drawing lessons from your posts. Thanks a lot for that. Looking forward to more!
Quoting TraderRolf
Haters gonna hate. I knew this but people have been attacking me recently in greater frequency, stating that I am scam and why I hang around here actually. My intention was (and still is) to give a different perspective to trading. I want to show that it's not only about entries and exits and the holy grail system. Trading is more and this is what the glamorous world of fx trading NEVER shows. General fx educators are trying to lure in the consistently losing retail trader, promising THE way to trade and to finally make it in this business. But,...
Let the haters hate, we are learning some good stuff here so keep it coming.
Quoting TraderRolf
Haters gonna hate. I knew this but people have been attacking me recently in greater frequency, stating that I am scam and why I hang around here actually. My intention was (and still is) to give a different perspective to trading. I want to show that it's not only about entries and exits and the holy grail system. Trading is more and this is what the glamorous world of fx trading NEVER shows. General fx educators are trying to lure in the consistently losing retail trader, promising THE way to trade and to finally make it in this business. But,...
Quoting TraderRolf
Haters gonna hate. I knew this but people have been attacking me recently in greater frequency, stating that I am scam and why I hang around here actually. My intention was (and still is) to give a different perspective to trading. I want to show that it's not only about entries and exits and the holy grail system. Trading is more and this is what the glamorous world of fx trading NEVER shows. General fx educators are trying to lure in the consistently losing retail trader, promising THE way to trade and to finally make it in this business. But,...
...
Ghost Rider - WWTBMD?
Thank you everyone for the nice feedback. I'll keep this updated for sure since I receive so many mails where people find value. Thanks again!

I just edited my Trading Journal Template to make it eaiser to use for you. I'll attach it here. Here is my last video where I talk about how I use my Journal and what data to keep.

http://www.youtube.com/watch?v=W7TLW23JJNw

Good Saturday to all of you
Attached File
File Type: xlsx Trading Journal - Template.xlsx   45 KB | 2 downloads
Learn from yesterday, live for today and hope for tomorrow.
Dont worry about what others think and say. People will criticize you always. Take it easy and enjoy your life. Dont allow yourself to be influenced by others "bad saying"

Good luck mate.
Lose small, win BIG
Keep going Rolf

I am here to learn as well, there will always be negative mindset where they just blindly attach on people trying to teach something, I guess they after all are lost and don't know what to do in trading, so frustrated, so just keep on doing what you do and let us listen and learn, thanks for such kindness to share everything in the thread so far

Many green pips to you and all supporters
I Have Learned to Take Some Losses to Make Profits
Hi Rolf, thanks for putting up another quality thread on this forum. You are absolutely right that there is more to trading than buying huge houses, cars, watches and other expensive stuff, since this is only about EGO in most cases. Coming to trading with this kind of attitude is motivated by the system of RAT RACE you have already covered.

We are all living in this world without appreciating simple things. Most people in Europe own much more than I do, I do not even have a car or house. Most times of the year I have to work at different jobs to pay the bills although I have got a high education (which is not always the best in a system where you are supposed to be just a small player in the capitalistic system that should not think and evaluate too much). But my education gives me endless beautiful things to view and wonder about money will never be able to buy.

However, I have countless things that make me happy without spending even money (or very little money). I see how people complain and try to be better than others just to feel better.

For me, trading is a project to make it easier to pay the bills, so I can enjoy life. I do not have to make millions, some money to pay for life expenses are totally fine. I decided against being a part of the system. You always pay a price for that - in my case, being not very rich by western standards. BUT: I am free of a lot of sickening thoughts people in the western world have.

As I see, you seem to live the same approach and already started travelling, which is a great thing. As soon as I have improved my trading to the point I can afford flight tickets, I will join you. Trading is not just about making money. It is part of a philosophy of worshipping life. Keep this great thread alive, travel safely and enjoy!
Fix up, trade sharp ...
Rolf, did you prepare any setups for next week? What are your thoughts about G/U and G/J?
Quoting TraderRolf
Great way to start the week. Thanks to the f*** hot weather here in Bangkok, I stayed in today and delayed all my things I had to do for the evening and so I was able to get that very nice trade on the Kiwi. having the D1 short bias I talked in my video from yesterday, was looking for short entries with additional confirmation and for a better price. Well, look at this H4.... {image}
What other elements do you consider when you set the TP, besides SR? Do you consider fibo levels or moving averages? Also do you use pending orders or do you wait for some kind of price confirmation?
Traderrolf, your thread is one of the most honest thread about trading in FF. I wish I have read this kind of thread earlier to know the nature of this business. Especially the statistic part. :-)
Quoting lithium1
Traderrolf, your thread is one of the most honest thread about trading in FF. I wish I have read this kind of thread earlier to know the nature of this business. Especially the statistic part. :-)
yaay, there are actually people listening to what I have to say about statistics Happy to hear. And believe me, if you implement this into your own trading, your results will amaze you. Often, people say I talk about this too much but when I ask these people about their performance, they just say "ah well, I just started this new promising method. There is no need for keeping stats. The PDF that the method comes with states that they figured it all out." REALLY? Trading is no franchise business, where you buy a PROVEN system from a multi-billion corporation that are really interested in you making profits. Most likely, you buy some random PDF with some magic indicators from some weird google-landing page.
</rantover>

Another discussion I recently had with a retail guy was that, as I always say that keeping it as simple as possible, why not just use some pre-defined 20 or 30 pip SL/TP on all of my trades? If you are one of these guys, please, think one moment. So you trade the EUR/USD, the GBP/USD, the EUR/CHF, maybe Oil, Gold or Silver and then the DAX as well...I don't even know where to start to tell you this is as f*cked up as it gets in trading. Every single instrument has its own characteristics. There are different volatilities present and it varies every day, week, month and even time of day. And then you have things like 'natural' support&resistance, MAs, FIBs and what not. They might all be in the way of your trade. I hope you get it as trading with a fixed SL/TP is as dumb as it gets. Please, I know common sense is one of the most uncommon things these days but, please, if you gamble your own money for which you get up every day and work your ass off, use your brain!

Everyone, have a great Sunday! I will upload my Sunday analysis video later today! In the meantime, I will enduldge in the things Thailand has to offer. A 2 hour Thai massage for $8, a 3 course meal for 2 people for $10, an ice cold beer for $0,75 and everything is served with 30°C and the most friendly people ever. Amazing Thailand - The land of Smiles!
Learn from yesterday, live for today and hope for tomorrow.
Quoting Hickson
Hi Rolf, thanks for putting up another quality thread on this forum. You are absolutely right that there is more to trading than buying huge houses, cars, watches and other expensive stuff, since this is only about EGO in most cases. Coming to trading with this kind of attitude is motivated by the system of RAT RACE you have already covered. We are all living in this world without appreciating simple things. Most people in Europe own much more than I do, I do not even have a car or house....
Spot on. However, it's important not to blame people or the system and get to bitter. There are many people who like the way things are. Breaking out and doing something completely different, is not for everyone.

And by the way, traveling is much cheaper than most people think. $70 a day will give you a life, that in Europe would cost several hundres. And of course, you can get it cheaper as well. But then, it's about enjyoing life. and for most, it's not that hard to make $70 a day in trading. Yes, there are taxes, retirement plans, children....
And plane tickets are so damn cheap. You can get to bangkok from germany for around €500 and flying within Asia does not cost you more than $30 per flight.
Often, it's not that people don't have the money. But the courage to actually DO it. I was a little worried when I started selling EVERYTHING that I owned back then. But the excitement and the wanderlust was much much greater.

With this, follow your heart and don't wait another day. If you want to do it, do it NOW!!
Learn from yesterday, live for today and hope for tomorrow.
Rolf, regarding Moneymanagement do you risk a fixed %-amount, a fixed $-amount, or do you vary depending on the grade of the setup?
  • Post #218
  • Quote
  • Edited at 9:13am Jun 15, 2014 8:58am | Edited at 9:13am
Quoting baccarat
Rolf, regarding Moneymanagement do you risk a fixed %-amount, a fixed $-amount, or do you vary depending on the grade of the setup?
Let me ask you something. If you play poker and you hold two Kings and don't see an Ace on the table, how confident do you fell? But how about when you hould 3 and 8 and see two Queens on the table. Do you fell less confident?

Or let's say you want to bet on the World Cup. You see that Holland plays Mexico, you will probably go for Holland and feel pretty safe when betting money on them. But when Holland plays Germany you are not too sure about the outcome and would play it more safe. (In fact, maybe you should bet on Germany and feel relatively safe. But mayb I am a little biased, being German )

The same hold true in trading. Let's say you trade basic support and resistance. You know that just trading simple S&R gives you a winrate of 35%. But you have done your research and you found that when you have a pinbar at your S&R level, your chances increase to have a winning trade. Even better, when a moving average is at your level, it is even more strong. And the ultimate setup wil be if you have a pinbar, a MA and a Fib at your level. You know from experience that this will give a very good chance that your trade will work out.

I think you can see what I am trying to tell you about position sizing and gradng your setups. Have a good day



Btw, in this video I actually talk about this topic a little bit.

http://www.youtube.com/watch?v=iq9eB4rWtKk
Learn from yesterday, live for today and hope for tomorrow.
Hey guys (and girls?),

I just uploded a new video from my Sunday Analysis. I realized that I cannot go too deep and I have so much more that I would like to share with you on the pairs that I am watching. So tomorrow, I will pick my most favorite pair and do an in-depth analysis where I cover everything that needs to be considered when trading a pair. Or maybe, is there some demand for some free webinar?

But for now, here is the video where I point out some interesting price levels to watch for the upcoming trading week.

http://youtu.be/KYcws3jVq2A

I am wishing you all a good start into a new trading week
Learn from yesterday, live for today and hope for tomorrow.
Nice thread. ​
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