Extracted Thread (per thread starter's request)

See this post: http://www.forexfactory.com/showthread.php?p=7907413#post7907413

You are still welcome to send me something nice though

Thank you . I'll PM to you.

I'm glad I found this thread. Thank you Fez for your insight. I've read Graeme's thread a few years back and it was a great read, and I plan on implementing it someday into my trading. I find your thread to be very concise and easier to understand.

To be honest (and this is just my opinion), but I'm not sure why so many people in this thread think this method wouldn't work. Seems simple enough to me. Some of your entries will be successful and you move stop loss to break even and forget about it. You have no more risk here, because if the market reverses on these positions you get stopped out and don't lose anything. But if the market decides to trend for weeks, months, year then you have the chance for massive gain. Other entries will be unsuccessful and you lose some pips here and there, but it's like the price you pay for a lottery ticket for the position that will win big.

I guess it's possible that the market will be stuck in range for many months and take out all of your successful entries and you will be left with the loss from your losing entries. But how big are the losses from your unsuccessful entries that you would have such a major drawdown/blow your whole account? As long as you keep your position sizes relatively small (1% of your account) and make a decent number of good entries, and don't lose a 100 pips per entry, I don't see how this would be a problem. Anyone care to elaborate if I'm missing something?

Fez says entries are not the point of this method, and he's right, that's not what he's here to share with you. But entries are still important. He has found a way to make a decent rate of successful entries, and any losses he endures in establishing his positions are covered by his massive gains on successful positions. If you are not seeing results from day trading/scalping, and losing a ton of pips on entries, then this method isn't your ticket to riches. Because this method dependant on your ability to safely enter positions for a chance for one of them to catch the massive wave. If you can't enter "safely", and you are unable to increase your account balance by day trading/scalping alone, then I say go work on that first before you attempt this method.

You enter like a day trader/scalper, which you should already be good at, but it is position trading (keeping the position in longer term and letting the market run it's course) that allows you the chance for massive gains.

The only way to enter the market with 5 pips SL is at liquidity areas. Only specific kind of these price areas provide accuracy almost to the pip. But it takes years to learn how to spot them by just looking at the blank chart.

Graeme = Fezmar = Sunwoo Lex Kim

Graeme and Fezmar are the persons Sunwoo wants to be, but he can't and will never be. Sadly.

TRD

link is missing. Can you please share again ?

never mind. found it

This is an amazing thread but I have one question for anyone who can help me out. Fez said that he started with $3k in his account, and was risking 3% per trade. This would be $90, correct? He then said his account dwindled to $600. But he would still always risk that original $90.

My problem here is that when I try to recreate the situation in demo, once my account is at $600, I don't have enough units to risk $90 per trade because of margin requirements. Even when I use 10:1 which Fez said he used. Can someone explain to me what I'm missing here? How did Fez overcome the margin obstacle? Many thanks from a newbie

I agree! I like the idea! Good entries get a good initial move; stops get moved up; then the stops get ran.
We have that to worry about too? So I'm having similar thoughts on using some type of support/ resistance levels.
And on a daily chart makes a lot of sense and even using a wider stop. stay tuned....