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Trading consistently for profits

  • #21
  • Jan 30, 2015 10:10am Jan 30, 2015 10:10am
I think some can be clear but I personally believe that us as traders have to just 'do our best' to determine where these levels are. Nobody tells us, the same way nobody tells us which way price is going to go and at what time. We have to just do our own research, meaning that people will not have the same levels as us.
  • #22
  • Jan 30, 2015 10:14am Jan 30, 2015 10:14am
In fact, every trader that likes the idea of S/D zone or trade it, could give the same explanation (though I like the way naughtypip thinks).

Based on the equilibrium of the markets, I can say that S/D zones can be calculated very easily based on price (not visually by drawing lines or boxes).
  • #23
  • Jan 30, 2015 10:19am Jan 30, 2015 10:19am
Quoting pinktrade
{quote} I understand this logic, tried to apply it myself with different systems in the past and 2 things happened: I didn't like switching TF's and 2. Is as unreliable as any other indicator. There always is a higher TF until there isn;t one you see but is still there. What if you are trading the last time frame that your broker has to offer? Monthly or Yearly? What if your broker would only offer one TF?

Yep MTF analysis is laborious, I would love to trade from one time frame. So I am intrigued
  • #24
  • Jan 30, 2015 10:19am Jan 30, 2015 10:19am
Quoting jakeparkin
I think some can be clear but I personally believe that us as traders have to just 'do our best' to determine where these levels are. Nobody tells us, the same way nobody tells us which way price is going to go and at what time. We have to just do our own research, meaning that people will not have the same levels as us.
Actually if we both trade the same instrument (let's say E/U as I like this one), the price will be the same for both of us (disregarding brokers that will quote very different prices )
So, we should both have the same levels but only the subjectivity in each of us gives us different levels.

Fact: I have discovered (not invented) that markets:
- multi-dimensional (will try to explain later with an image)
- not dependent on time (not talking about ranko bars)
- are not random
- have equilibrium
  • #25
  • Jan 30, 2015 10:22am Jan 30, 2015 10:22am
Quoting pinktrade
{quote} not dependent on time
Are we talking about trading without a chart? Just based from looking at the quotes?
  • #26
  • Jan 30, 2015 10:24am Jan 30, 2015 10:24am
Quoting pinktrade
{quote} Actually if we both trade the same instrument (let's say E/U as I like this one), the price will be the same for both of us (disregarding brokers that will quote very different prices ) So, we should both have the same levels but only the subjectivity in each of us gives us different levels. Fact: I have discovered (not invented) that markets: - multi-dimensional (will try to explain later with an image) - not dependent on time (not talking about ranko bars) - are not random - have equilibrium
I agree with most yes. I agree that time doesn't affect which way the price will go, but using time can actually be very beneficial. I use fundies to explain because thats how I trade so it's what I know, but let's say that we have that negative inflation data expected to come out, those people who are moving their money out of that currency, say Euros and into US Dollars, they do so through brokers. Brokers for many large clients who move millions of dollars are in fact the banks. So when the banks open in London at 8am (London session open), it's common to see the price move heavily in one direction. So in some way we as trades can use time to our advantage.
  • #27
  • Jan 30, 2015 10:27am Jan 30, 2015 10:27am
Do not understand me wrong.
I have traded in my early trading years different systems with which I had some profits.
I know traders that trade only price action.
Others that trade based on MA's.
I am not the only trader in the world that can trade profitable.
I have not invented any relativity formula.
There are other ways that could give you profits.
The way I trade is just one of the many to achieve profitability. Only with very small SL, DD and variable TP.
  • #28
  • Jan 30, 2015 10:29am Jan 30, 2015 10:29am
Quoting NaughtyPip
{quote} Are we talking about trading without a chart? Just based from looking at the quotes?
I trade with charts. Not completely naked charts but I throw in just a little visual help which I do not based my decisions on. Probably just got used to it.

I trade based on price, but not PA.

I do calculate the price levels according to the market.
  • #29
  • Jan 30, 2015 10:32am Jan 30, 2015 10:32am
Quoting jakeparkin
{quote} I agree with most yes. I agree that time doesn't affect which way the price will go, but using time can actually be very beneficial. I use fundies to explain because thats how I trade so it's what I know, but let's say that we have that negative inflation data expected to come out, those people who are moving their money out of that currency, say Euros and into US Dollars, they do so through brokers. Brokers for many large clients who move millions of dollars are in fact the banks. So when the banks open in London at...
Time does not influence the price (expect for when the news come out). I can trade the same any chart, without knowing what TF it is.
I do not trade during news. EVER!
I use SL and I never move my SL.
Markets give me the TP level. I do not decide it myself.
I base my trades on what the market is showing me not on emotions or hunches.
  • #30
  • Jan 30, 2015 10:34am Jan 30, 2015 10:34am
Simple trading is only follow the trend, Trend is the friend,
If Trend down, just keep open SELL PO
If Trend Up, we just open Buy PO
If price down we open SELL PO
If price going up we open Buy PO
example
Trend going down ... Open SELL PO TP 50 SL 50/100 pips, if 1st TP Hit, open again SELL PO, continue until the end of the trend
If one movement trend is 500 pips so your profit also 500 pips .....

If the higher TF trend going down, you be able to follow the trend from the lower TF ....
sometimes the simple strategy is the consistence Profit .....
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH4A.png Size: 40 KB
  • #31
  • Jan 30, 2015 10:39am Jan 30, 2015 10:39am
Hello Pinktrader,
looking forward to what you have to say...tried almost everything but still i am missing something...so hopefully this will be it
  • #32
  • Jan 30, 2015 10:43am Jan 30, 2015 10:43am
Quoting mrhb30jr
Simple trading is only follow the trend, Trend is the friend, If Trend down, just keep open SELL PO If Trend Up, we just open Buy PO If price down we open SELL PO If price going up we open Buy PO example Trend going down ... Open SELL PO TP 50 SL 50/100 pips, if 1st TP Hit, open again SELL PO, continue until the end of the trend If one movement trend is 500 pips so your profit also 500 pips ..... If the higher TF trend going down, you be able to follow the trend from the lower TF .... sometimes the simple strategy is the consistence Profit ........
Nice picture... not very attached to large SL and calculations based on $.
Like I said before and always will: if it works for you and you are happy with your account then that's all it is to trading, as long as you can support your family with it.

What about the little up & down moves before the nice up and down trend? No need to answer that
  • #33
  • Jan 30, 2015 10:44am Jan 30, 2015 10:44am
Quoting stormtrader
Hello Pinktrader, looking forward to what you have to say...tried almost everything but still i am missing something...so hopefully this will be it
When have you started trading Storm?
  • #34
  • Jan 30, 2015 10:54am Jan 30, 2015 10:54am
Quoting pinktrade
{quote} Nice picture... not very attached to large SL and calculations based on $. Like I said before and always will: if it works for you and you are happy with your account then that's all it is to trading, as long as you can support your family with it. What about the little up & down moves before the nice up and down trend? No need to answer that
Hi pinktrade,....

This is a simple strategy, only follow the higher TF trend movement, if the D1 trend going down we be able to follow the D1 trend from the lower TF H4 or H1 or M30,... and with TP 50 and SL 50/100 pips, if the trend flat should not taken the entry...

Rgds,
  • #35
  • Jan 30, 2015 11:09am Jan 30, 2015 11:09am
Quoting pinktrade
{quote} When have you started trading Storm?
well i started learning from 2005 had my share in losing, winning and giving it back, now i m at the point i keep breaking even but still wont put a plate on the table if no substantial wins are in the schedule
  • #36
  • Jan 30, 2015 11:10am Jan 30, 2015 11:10am
Quoting pinktrade
I believe you read that forex is a zero sum game. Probably in your opinion, which is not false, is that what one trader losses, another trader wins (if I'm mistaken please correct me, I would love to see your opinion). In my opinion, is that the markets are always in equilibrium.
//----

hey pinktrade..... i'm not saying your mistaken.... but your comment reminded me of a pm received concerning the 'for every winner there must be a loser' and asked my opinion on it.....

here was my response......


people often say forex is a zero sum gain.... meaning for every winner there is a loser.... this is not necessarily true.....

imagine a group traders where the first trader sells a euro for 1 dollar to another trader.... the second trader sells that euro to a third trader for 1.0010..... the third trader sells it to the fourth trader for 1.0020...... imagine this goes on and on and on..... every trader making 10 pips and not a single trader losing anything..... at some point the central bank or some large corporation might buy that euro for it's own use......

who lost money..... no one......

now we can of course lose money if we trade poorly.... this is usually due to getting carried away and betting to much like i did with the eurnzd.....

that was my fault, something that i can correct......h

//-----

your views on several other points seem to differ from mine..... i see this as a good thing...... without differences of opinion it would a poor market....h
to trade and code, keep both simple... no call to impress....h
  • #37
  • Jan 30, 2015 11:18am Jan 30, 2015 11:18am
Some of the traders present here on FF sent me a few emails and I think it would be better to answer to some of them here for others to understand better and to not repeat the same answer by email for each one. I will try to answer each question in a few words:

1. I started trading back in 2006. Of course I lost my first 2 accounts and what was for me at that time a large sum of money (~10k)
2. I was trading during the 2008 and took some losses but my SL triggered and never reached a negative balance.
3. I was trading the black Thursday but not the CHF pairs as I do not trade those for some time. I was on a short position on E/U.
4. I trade large lots. Usually over 10 but sometimes if I have multiple orders I trade as low as 1 lot.
5. I started with 2k account and compounded it. I always withdraw at least half from my account because I do not like to put my eggs in one basket.
6. I rather not say the account size but it is large enough.
7. I'm in profit every month for a few years now.
8. I do not trade every day because I have other matters to attend to.
9. I have other income from other businesses than forex, but they all are made on the profits I made from forex and none as profitable until now.
10. I started trading as a scalper and now I am "scalping" the markets. I never carry my trades to the next day.
11. I take what profits the market will give me. I have 5 pip trades and I have 30-50 pips trades.
12. I said before: I never trade during news! Or 20-30 minutes before and after, depending on the news impact.
  • #38
  • Jan 30, 2015 11:21am Jan 30, 2015 11:21am
Quoting hayseed
{quote} //---- hey pinktrade..... i'm not saying your mistaken.... but your comment reminded me of a pm received concerning the 'for every winner there must be a loser' and asked my opinion on it..... here was my response...... people often say forex is a zero sum gain.... meaning for every winner there is a loser.... this is not necessarily true..... imagine a group traders where the first trader sells a euro for 1 dollar to another trader.... the second trader sells that euro to a third trader for 1.0010..... the third trader sells it to the fourth...
And I have opposite view. I see fx market, at least for us, as negative-sum game just because of spread. Every time transaction is made broker takes a little amount of money to himself substracting from entire global market. Theoretical if every transaction would go through broker substracting spread and no new money would enter fx market, in some time there would be no more money on the market.
  • #39
  • Jan 30, 2015 11:29am Jan 30, 2015 11:29am
Quoting pinktrade
{quote} Actually if we both trade the same instrument (let's say E/U as I like this one), the price will be the same for both of us (disregarding brokers that will quote very different prices ) So, we should both have the same levels but only the subjectivity in each of us gives us different levels. Fact: I have discovered (not invented) that markets: - multi-dimensional (will try to explain later with an image) - not dependent on time (not talking about ranko bars) - are not random - have equilibrium
Hi pinktrade,
it is not simple to discover something "new", it takes time, patience and great spirit of discovery. I said something "new" because there are things that nobody will tell directly but there are people that leave crumbs somewhere.
Regarding of equilibrium/balance i agree with you, to sell there must be a buyer, to buy there must be a seller, but i don't agree with "what one trader losses, another trader wins", this is not always true, it depends.
I agree with you that market is not dependent from time and i tell you why. Market, what we see, price, is the result of human actions (buy and sell). People don't buy/sell because it's 8am or 15mins past 9am. People don't push the bottom because a new trading day is coming. People push the bottom because they see price, what they think looking at price, how knows.
With what i said previous row, i'm pretty sure that you are not talking of multi-dimensional regarding timeframe, but i'm not sure what is multi-dimensional.
Regarding "are not random", i reply to this by quoting myself "price, is the result of human actions" and for my believes, human actions are not random.
Good thread.

Alex
  • #40
  • Jan 30, 2015 11:29am Jan 30, 2015 11:29am
Quoting hayseed
{quote} //---- hey pinktrade..... i'm not saying your mistaken.... but your comment reminded me of a pm received concerning the 'for every winner there must be a loser' and asked my opinion on it..... here was my response...... people often say forex is a zero sum gain.... meaning for every winner there is a loser.... this is not necessarily true..... imagine a group traders where the first trader sells a euro for 1 dollar to another trader.... the second trader sells that euro to a third trader for 1.0010..... the third trader sells it to the fourth...
Hello Hayseed,

I appreciate so much that you are visiting and even replying to my thread and I thank you for that, as you are a high impact member. The vast majority of the high impact members have great contributions to this forum.

About the zero sum game: I used to try and understand trading psychology, random walk and all the theories weird, good or bad that came my way.
Truthfully, I understood the core of the logic but never the entire thing as they were presented. Maybe this was the best thing that made me reach my full potential.
I look at the zero sum game part of trading differently since a few years back. Just to sum it up: the market is always trying (and succeeding) to reach equilibrium, thus zero.
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