no stop loss, big boss decides when i lose

Well.. from this scenary, i can see just peaks lower and lower. If there will be a peak it will reach 1.2912.


Btw, if it exceeds 1.080 then continue downhill until 0.95 and then follows up to 0.84 beginning of the year 2002, but at 1.082 there could be a tracing as in June 2003.

05/02/ 2015. This is my next trial.
I will run this till I am in profit.

06/02/2015 update
Just lock the profit in on this one. Let’s see how far it goes.

what you are essentially doing is classic trend trading. Banks and hedge funds have traded in this manner for years because it does hold a statistical edge as opposed to much if not all of the intra-day technical approaches.

Picking the higher TF trend and then giving price room and time to move in that direction....

Deciding to not use an initial stop loss is also fine as long as you have the ability to decide when and where to cut your loss - again retail crowd will tell you it is impossible to make that rational decision but there are ways and means of doing it - in fact that is what really distinguishes successful traders from losers

here's a quote from RE-THINK

It’s unfortunately still the conventional wisdom that the best trading occurs from so-called purely rational (read: statistical) and non-emotional analysis. Alas, it’s just not true. In fact, it isn’t even possible for a human being to make a risk-decision devoid of feelings and the most-forward thinking research says it isn’t possible to be rational WITHOUT emotion!

you are on the right track here... avoid the desire to add any more analysis to your approach and perhaps look at how to make better decisions... good luck

06/02/2015 update
Just lock more profit in.

2nd update just close this with profit of £343.09 have great week end.

60minuteman
Thank you for your comments. I will bear your words in mind.

This is why I started this thread to show people that you can win without all those indicators. Up to now I have 100% success. I’m not saying my trades have all gone the way I said. In fact, one or two of them have gone up to a thousand pounds in debt.
What I have found is the most important rule is when it crosses that line into profit. Make sure you lock in some profits. By doing that I have 100% success.

What I’m hoping to show is to get to a target of £10,000 with out a loss if I can achieve that, then we traders may be able to modify the system to take out more of the risk.

Hello redman, green pips to you!

At what point in time do you decide to enter a trade? Take for instance the EUR/USD today which shows upward PA - will you go long despite the strong bearish momentum - and also when do you decide to enter?

I’ve been looking at this chart for some time. I believe the US dollar is going to drive The Euro down. I’m looking at two supports 1.07854 and 1.01004. This all depends on whether USA get involved in Ukraine.
As for when I get into a trade I look at where the candle is,
The support and resistance lines and my TDI. Nearly all my trades have gone in the opposite direction at first, because I’ve got no stop I’ve not been taken out. Because I’m going in the direction of the big boss the monthly candle, I’ve ended up with a profit,

11/02/ 2015. This is my next trial.
I will run this till I am in profit.

11/02/2015 update close this trade,
took profit