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Looking for Real Trading Method

  • #481
  • Jun 26, 2014 12:08am Jun 26, 2014 12:08am
Quoting saneblane
{quote} Hey Simon I am curious, what mode of analysis do you do? You don't have to go in detail or anything, but I have seen you reject almost every form of analysis that has been presented, and you say that you are doing good in trading. Not trying to pick a fight man, but for someone like myself who always want to know what is going on in the market and where the big fellas are buying in. I find it incredible that someone can make money without caring about anything. What is your secret man?, I would love to trade...
Wherever you go, there you are.
  • #482
  • Jun 26, 2014 12:21am Jun 26, 2014 12:21am
Quoting Phatori Gal
{quote} A person's beliefs are always revealed by their actions. It is no need to always being the "Right" one. Anger, frustration and intolerance are what I can smell from the above quote. There is some serious resistance going on here, with this upstream approach, I reckon it will take us very long time to see you on the other side of the bridge. I believe in fully responsible, non judgmental (but with a pre-define risks: reward before each trade), and make ourselves available for the market. Let us remember the probabilities paradox : although...
Man, you words sounds right on paper........as mister Douglas's. He is a councillor, he makes money writing books, he is not a trader.....his MM is very poor, he suggests to take some off as soon as the market goes in your direction......That is a losing one in my view, because when the market goes in my direction taking off some as soon as possible will make it harder to reach a decent RR, in brief when I lose, I lose a lot and when I win I win little....
Yes your mental structure and MM are important but you also have to know about how market works....meaning, you need to able to read the market properly....
Wherever you go, there you are.
  • #483
  • Jun 26, 2014 12:36am Jun 26, 2014 12:36am
Quoting saneblane
{quote} Hey Simon I am curious, what mode of analysis do you do? You don't have to go in detail or anything, but I have seen you reject almost every form of analysis that has been presented, and you say that you are doing good in trading. Not trying to pick a fight man, but for someone like myself who always want to know what is going on in the market and where the big fellas are buying in. I find it incredible that someone can make money without caring about anything. What is your secret man?, I would love to trade without caring like you.
I don't reject anything. I challenge it, it's the fastest way to cut the sh*t. The thing is in the markets you can make a case for or against any kind of truth, just as the market at any time can go up or down.

One thing I do reject is certain people acting like their way is the best way. I don't think there is a best way. I think in a way I use it all but I'd call myself a tech trader. I think one if the best things I did for myself was to solve the problem of TF's. I cringe when peoe say things like "I'm an M1 trader"... It makes no sense to me. But I know wha they mean is, I use the 1 minute charts to assess the market and make a trading decision.

In a nutshell I'm a multi timeframe trend trader/ fader. I look for exhausted points in the market and pyramid. My entries and exits are round numbers that coincide with strong s/r points. That's all, it's not flashy, there is one unique element about it that I've never seen discussed.

above all it's repeatable and discretion has finally been eliminated. Of course I do care but I get really pissed at myself if I win a trade where I should have done something different according to my rules, I just wat my results to represent a disciplined version of my system. The money is just the song playing in the back ground. That's how I not care.
like totally failure brah
  • #484
  • Edited 1:05am Jun 26, 2014 12:42am | Edited 1:05am
Quoting Phatori Gal
{quote} A person's ................ although there is a random distribution between wins and losses for any given set of variables that define an edge,, if you can get the odds in your favor (your edge) and there is a large enough sample size, that will therefore have probable outcomes can produce consistent profit. - ....................
Here is a reward for this beautiful post of yours.

although there is randomness in this "market" distributed over the full length of time we remain in trades due to any given set of variables that define an edge or otherwise, if you wait for the odds to move in your favor (your edge). There is a large enough possible sample size but only one in play at a time and remaining either unopened or locked after they are open, the one in play will therefore have probable outcomes can produce profit and the locked ones consistent profit when closed. But the key is Poco a Poco.

Compare the following with what was posted yesterday( http://www.forexfactory.com/showthre...44#post7556044 ) and re-read the statement above. You will get it. I know.
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The Thief of Wall Street
  • #485
  • Jun 26, 2014 1:24am Jun 26, 2014 1:24am
Quoting simonb
{quote} I don't reject anything. I challenge it, it's the fastest way to cut the sh*t. The thing is in the markets you can make a case for or against any kind of truth, just as the market at any time can go up or down. One thing I do reject is certain people acting like their way is the best way. I don't think there is a best way. I think in a way I use it all but I'd call myself a tech trader. I think one if the best things I did for myself was to solve the problem of TF's. I cringe when peoe say things like "I'm an M1 trader"... It makes no sense...
That makes sense Simon, multitimeframe analysis is a great tool. Gives you a better picture. Keep it up man, may the pip be with you.
Being a trader is lonely, but being a great trader is lonelier still
  • #486
  • Jun 26, 2014 2:21am Jun 26, 2014 2:21am
Quoting Chicky
{quote} Here is a reward for this beautiful post of yours. although there is randomness in this "market" distributed over the full length of time we remain in trades due to any given set of variables that define an edge or otherwise, if you wait for the odds to move in your favor (your edge). There is a large enough possible sample size but only one in play at a time and remaining either unopened or locked after they are open, the one in play will therefore have probable outcomes can produce profit and the locked ones consistent profit when closed....
I like your approach, it's not about being right it is about managing risk.
tradewith60
  • #487
  • Jun 26, 2014 3:13am Jun 26, 2014 3:13am
Quoting No-Luck
@ skfx I was talking about all markets, not only spot fx. So what would you do?
current price right now to cero price = my range (0 = stop).

Find out price every hour.

If range drops...buy.

Keeps droping...buy more.

Whatever the case (personally) i would have extremely low leverage and make sure i can average into market x amount of times, where cero range price = cero account.

I know a bloke who does this and averages aprox. 20%/30% consistently.
And yes, he has blown accounts, but, overal due to his risk/acc. management he increases gains (started with 10k risk acc., currently with 250k risk acc.).

Thats what i would do IFFF i where going down that approach.
  • #488
  • Jun 26, 2014 11:20am Jun 26, 2014 11:20am
Quoting Phatori Gal
{quote} A person's beliefs are always revealed by their actions. It is no need to always being the "Right" one. Anger, frustration and intolerance are what I can smell from the above quote. There is some serious resistance going on here, with this upstream approach, I reckon it will take us very long time to see you on the other side of the bridge.
Anger and frustration...well, that is another subject that is rather subjective. I am not angry nor frustrated, more so along the lines of offended. Stealing somebody else s words, making them your own doesn't make you seem intellectual. What it actually does is state that you are a rip off artist and in this case haven't even the clue in which context to use your phrasing. I find this offensive.

Where some are offended by profanity or racial slurs or dogs...blatant ignorance is where I have a pretty tight line drawn. So, it really isn't me lashing out at you nor the many faces of Cindyxxxx, it is actually more of me lending perspective to others.

If by other side of the bridge, you mean waiting tables full time and trading part time...you are almost correct, as Very long time = Never.

PS. Simon, are the options with my meal, baked, mashed or a rice pilaf?

Quoting Phatori Gal
so yes, i do agree some of your points but I do mercy the conflict you have inside yourself.
It amazes me when others are so arrogant as to believe that my phrasing has anything to do with my abilities to trade. Why not view any of the information on a technical analysis that I have posted and try to come to a similar conclusion. Ya know...look at a chart...

Liking people on a forum is not a precursor to successful trading...

Trading is.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #489
  • Jun 26, 2014 11:49am Jun 26, 2014 11:49am
Quoting Pipalicious
{quote} current price right now to cero price = my range (0 = stop). Find out price every hour. If range drops...buy. Keeps droping...buy more. Whatever the case (personally) i would have extremely low leverage and make sure i can average into market x amount of times, where cero range price = cero account. I know a bloke who does this and averages aprox. 20%/30% consistently. And yes, he has blown accounts, but, overal due to his risk/acc. management he increases gains (started with 10k risk acc., currently with 250k risk acc.). Thats what i would...
Hey Pip,
I think that's the same strategy these retailers use(see attached). The good ole' retail run down.
When it bites, it really bites.
rgds
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Click to Enlarge Name: euroretailrundown.jpg Size: 124 KB
  • #490
  • Jun 26, 2014 12:04pm Jun 26, 2014 12:04pm
Quoting saneblane
{quote} That makes sense Simon, multitimeframe analysis is a great tool. Gives you a better picture. Keep it up man, may the pip be with you.
After everything I've tried it's what works the best for me.

Cheers

and you too
like totally failure brah
  • #491
  • Jun 26, 2014 4:19pm Jun 26, 2014 4:19pm
Quoting skfx
{quote} Hey Pip, I think that's the same strategy these retailers use(see attached). The good ole' retail run down. When it bites, it really bites. rgds {image}
How do you decide where to put your stops?
Looking for a hint, not the answer.
A trade should be based on an assumption based on facts
  • #492
  • Edited 11:14pm Jun 26, 2014 10:55pm | Edited 11:14pm
Quoting Mave
{quote} How do you decide where to put your stops? Looking for a hint, not the answer.
Your question is not as easy as it appears in first read.

Where to put a stoploss is not just finding a place above a resistance or below a support. It depends entirely on your philosophy and method of trading, timeframe you are focusing on, recent fundamentals, nature of upcoming data, time of the day or week, but (in most cases) more importantly where is your TP target.

As a principle,we don't want to get into a situation where our SL is likely to get hit without having re-entry plan as part of our method. Even if we have a re-entry plan, we have to decide in advance how many times we want to make an attempt to get a surviving trade. In other words, how much cost we are willing to pay to embark upon a trade of our choice.

TPs and SLs become more important for a trader that accepts wins and losses on a trade basis. There are other traders who do not trade on a trade basis but follow or go against the market in general.

From my experience, I can tell that one thing that never pays off is changing mind very frequently.
The Thief of Wall Street
  • #493
  • Jun 26, 2014 11:35pm Jun 26, 2014 11:35pm
If you care to glance at my profile, it details how I progressed on a very interesting journey of forex trading. It's not by chance that I ended up here. In several posts to come, I am planning to write in detail how I thought and what lessons I learned in this journey. I don't know why I want to share all this with you (my best friends), maybe because I learned to speak and write English language only in the past 15 years or so and find it very fascinating to communicate in a language that everyone in this world can read and understand. I strongly believe it will help many who are struggling to excel in forex. My only ambition is to become an author in English language. I am working to write a book on "Success". Not sure of the title yet, but I want it to be a best seller ................. ever. Any help (motivation or advice) in this regard will be highly appreciated. I will be checking my PM more frequently than I did in the past.

As mentioned in my first post of this thread, I am NOT a professional trader (yet), but planning to be one (and the best one). I will be sharing details of this journey with you (the only friends of mine). Please do let me know if you would like it or not. I do not promise anything, but just this one that I will help anyone who really wants to think outside of the box and is eager to develop a real trading system. ................................................................ Ps. I should better open another bottle of Vodka.
The Thief of Wall Street
  • #494
  • Jun 26, 2014 11:49pm Jun 26, 2014 11:49pm
Quoting Chicky
If you care to glance at my profile, it details how I progressed on a very interesting journey of forex trading. It's not by chance that I ended up here. In several posts to come, I am planning to write in detail how I thought and what lessons I learned in this journey. I don't know why I want to share all this with you (my best friends), maybe because I learned to speak and write English language only in the past 15 years or so and find it very fascinating to communicate in a language that everyone in this world can read and understand. I strongly...
Hi Chicky,
I'll be in that... bottle of vodka that is since I speak better English after vodka or two (or I think so in my then altered state of mind).
On the more serious note, yes I would be interested to read more of your journey - I am sure I will learn something, maybe many things.
cheers
hannele
  • #495
  • Jun 26, 2014 11:52pm Jun 26, 2014 11:52pm
looking forward to it .
Wherever you go, there you are.
  • #496
  • Jun 27, 2014 12:49am Jun 27, 2014 12:49am
Quoting milam
looking forward to it .
It starts from here. ...................... in 1976 when I was one of these lovely people.

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The Thief of Wall Street
  • #497
  • Jun 27, 2014 1:51am Jun 27, 2014 1:51am
Love to hear more of your journey Chicky!
  • #498
  • Jun 27, 2014 1:57am Jun 27, 2014 1:57am
Quoting Chicky
{quote} It starts from here. ...................... in 1976 when I was one of these lovely people. http://www.youtube.com/watch?v=lRH-n...=RDlRH-n-ov0m4
Hi Chicky,

I thought I was the only one on FF who remembers those days lol.
  • #499
  • Edited 2:49am Jun 27, 2014 2:39am | Edited 2:49am
Quoting Chicky
{quote} It starts from here. ...................... in 1976 when I was one of these lovely people. http://www.youtube.com/watch?v=lRH-n...=RDlRH-n-ov0m4
Juice!!!!! This does not look good........Not my style anyway.....Maybe you need to start all again?. Still following.... for ever and ever...

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Wherever you go, there you are.
  • #500
  • Jun 27, 2014 4:12am Jun 27, 2014 4:12am
My Favs - think we're going a bit off track lol.

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