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Trade like this, and I guarantee you'll double your account

  • #21
  • Jan 29, 2015 4:41am Jan 29, 2015 4:41am
Quoting alf909
{quote} Tyumen, When do we start?
That's it, that's all there is with this thread, i think people were expecting a strategy, signals or whatever, but I'm afraid I have to disappoint. The sniper helped me organise my trading into a serious business when I quit through lack of success some years back. I sat down for two years, studied the charts in my spare time until I was cross eyed, and traded a micro account until I'd figured it out. Preparation and professionalism were key for me, neither of which I had in my trading previously. This is why I shared the sniper, though it seems most people out there in ff are after a short cut to trading success. Any successful trader will tell you that this doesn't exist.

Anyway, good luck with your trading, I honestly wish you well. The reason I asked where in Russia you are from is that Russia is very dear to me heart. I lived in Murmansk and Vladivostok a few years back, and have a Russian wife.


с наилучшими пожеланиями.
  • #22
  • Jan 29, 2015 4:55am Jan 29, 2015 4:55am
Quoting cat
The Sniper The sniper will train for years to sharpen and perfect his shooting skills, and the sniper knows exactly what his target looks like and pulls the trigger without hesitation The sniper must have unusual patience and be able to stay still for long hours.The sniper must know when to take the shot and when not to. He must be a keen observer, paying attention to details and being aware of his surroundings and everything that is going on around him. The sniper must be meticulous in his preparation; planning routes for both insertion and evasion,...
DONE.................................................................................................
  • #23
  • Jan 29, 2015 5:09am Jan 29, 2015 5:09am
Quoting кошка
{quote} вот и все, вот и все, что с этим потоком я думаю, что люди ожидали стратегии, сигналы или что-то, но,...
I served in armiii in Vladivostok, and I know from practice that such sniper shortest path to successful trading is not the case, agree with my five years of experience told about it)) anyway you the same luck.
  • #24
  • Jan 29, 2015 5:59am Jan 29, 2015 5:59am
Quoting alf909
{quote} I served in armiii in Vladivostok, and I know from practice that such sniper shortest path to successful trading is not the case, agree with my five years of experience told about it)) anyway you the same luck.
Well you know, without having the experience that you have had serving in the army, I principles set out in ' The Sniper' gave me the basis for my trading. As a day trader, trading off of a very small time frame for my entries, with a tight stop loss, I very often have no more than a second or two in which to take a trade - any hesitation may mean that it has already moved out of my risk-tolerance range. I prepare, I study the charts, I determine which way the major moves are likely to be going, north or south, and I wait for the price to fall into my range. The last trade I had, no more than ten mins ago, I put a trend line in when I got a peak, I waited for the price to reach a certain moving average where I expected a reversal in line with the trend, and as soon as a candle closed above a trend line and my central 20 exponential moving average, I pulled the trigger, no hesitation, bang!! This time it is a winning trade, sometimes it isn't, but although I prefer it if it is, it really doesn't matter, because I know that all the preparation was as it should have been and I entered the trade strictly according to my criteria. I am not a military man, although my Father was an officer in the Parachute Regiment, but I believe that military efficiency in one's trading can only be of benefit.
  • #25
  • Jan 29, 2015 6:07am Jan 29, 2015 6:07am
We have a similar approach to trade, I also do analysis, and after a certain setup to pull the trigger in a certain place, with a stop-loss of 4-5 points.
  • #26
  • Jan 29, 2015 6:20am Jan 29, 2015 6:20am
That's tight, mine is usually 10-15 pips. For my exit, I normally set my tp at a pre-defined level, such as a moving average, but only if it looks like it is going to get there judging by how the charts are looking. Otherwise, I have a system of moving averages that trail the price, and I'll stay in as long as the price stays above/below them. But I find judging the exit the hardest part of trading. I'm pretty good with my entries, but my exits still, and probably always will, need a lot of work. Some people just set an arbitrary number of pips where they take profit, bit I always try to let the charts show me when and where to get out of a winning trade rather than the other way around. On balance, it pays off.
  • #27
  • Jan 29, 2015 7:05am Jan 29, 2015 7:05am
so? where's the weapon?
visit www.OlimpiaFX.com
  • #28
  • Edited 8:09am Jan 29, 2015 7:54am | Edited 8:09am
Quoting olimpia
so? where's the weapon?
it's a little round thing with two buttons and a red light shining up its arse - without meaning to be facetious, the weapon lies within you, as it does with all of us. As I posted above, there's no strategy here, that's for you and every trader out there to find. What this thread is all about is the mindset and professional approach one needs to trade successfully day in-day out. 'The Sniper' posted above, is not mine, but I adopted it as my talisman and it has served me well - hence the sharing.
  • #29
  • Jan 29, 2015 8:23am Jan 29, 2015 8:23am
Quoting cat
The sniper in the military has an edge over his enemy; His edge is unwavering patience, mastery of his weapon, and the ability to remain consciously in control of his mind and body for long periods of time in high-stress situations.
Let it be not implicit that knowing your edge is also knowing where you DO NOT have an edge. The domain of any mathematical function is also defined by where its domain does not exist. There is a harmony of truth in this. Let this be explicitly stated on the back of this very good analogy. So while a sniper has an edge, he only has an edge inasmuch his influence exists. A sniper cannot make people cross his line of sight.
The coincidental success is more dangerous than the expected failure
  • #30
  • Jan 29, 2015 8:30am Jan 29, 2015 8:30am
Quoting Neqrotik
{quote} Let it be not implicit that knowing your edge is also knowing where you DO NOT have an edge. The domain of any mathematical function is also defined by where its domain does not exist. There is a harmony of truth in this. Let this be explicitly stated on the back of this very good analogy.
edge vs no edge can on the one hand easily be defined in trading as profit or loss, ie, no edge= drawdown; edge = profit, but it is not that simple in trading unfortunately, because you can have the greatest edge in the world but still lose money. It all depends on how one approaches the market and how one manages one's emotions.
  • #31
  • Jan 29, 2015 8:36am Jan 29, 2015 8:36am
Quoting cat
{quote} edge vs no edge can on the one hand easily be defined in trading as profit or loss, ie, no edge= drawdown; edge = profit, but it is not that simple in trading unfortunately, because you can have the greatest edge in the world but still lose money. It all depends on how one approaches the market and how one manages one's emotions.
If "no edge = drawdown" then I disagree. Maybe I'll understand better. Time will only tell the truth of this. But if I read this correctly you are talking about a non-existent risk. Raj Rajaratnam probably would agree with "No edge = drawdown" statement.
The coincidental success is more dangerous than the expected failure
  • #32
  • Jan 29, 2015 8:55am Jan 29, 2015 8:55am
Quoting Neqrotik
{quote} If "no edge = drawdown" then I disagree. Maybe I'll understand better. Time will only tell the truth of this. But if I read this correctly you are talking about a non-existent risk. Raj Rajaratnam probably would agree with "No edge = drawdown" statement.
Let's simplify this, or rather, I'll define ' edge'/no edge as I understand it. Not having an edge would be the same as putting on a trade without having a clue what you were doing, it would be a sheer gamble, heads you win, tails you lose - it would be completely random, like tossing a coin. An edge however means that you have a tried and tested method, and you know, from having used it, whether on demo, or for real, that your knowledge of the market will place you ahead of the game after x number of trades. However, as we all know, just having an edge is not enough to take money out of the market consistently, because without the corresponding mental armour, a trader will still lose, even with an edge, if he/she cannot control their emotions. This is where this thread, The sniper, has great relevance, not just because of the mental aspect, but because of the professionalism that one has to approach trading with.
  • #33
  • Jan 29, 2015 9:08am Jan 29, 2015 9:08am
Quoting cat
{quote} However, as we all know, just having an edge is not enough to take money out of the market consistently, because without the corresponding mental armour, a trader will still lose, even with an edge, if he/she cannot control their emotions.
Correct me if I am wrong. Then the edge is lost in this case, yes? If I have interpreted my own personal experiences correctly, an "edge" is a/or part of a holistic construct. Which I believe is the way you are explaining it. Not some isolated object.
The coincidental success is more dangerous than the expected failure
  • #34
  • Jan 29, 2015 9:09am Jan 29, 2015 9:09am
An edge is simply the (higher) probability of one thing happening over or after another. Your edge doesn't bring u profit or loss. Ur edge generate results, positive or negative. There is no certainty of outcome in the markets, but probabilities do exist. Trading needs excessive discipline. I personally define Discipline as, "the training to ACT in a PARTICULAR and CONSISTENT way, irregardless of overwhelming circumstances. A Sniper's dedication to his skill and continuous practice allows him to act without thinking or hesitation when the opportunity for a kill presents itself. His action is almost second-nature and he does what his has to do without struggle or hesitation. Another definition of discipline am fascinated with:" a technique/methodology/mentality that has been inculcated/ingrained/instilled and rooted in a trader to trade in a mechanical/mindless/robotic way". If one's trading hasn't gotten to this level of expertise, then trading will continue to be a struggle.
If u think u can, then u can!
  • #35
  • Jan 29, 2015 9:18am Jan 29, 2015 9:18am
Thank you henrolah, very well put.
  • #36
  • Jan 30, 2015 4:14pm Jan 30, 2015 4:14pm
Quoting cat
{quote} You're right, guarantee was too strong. Perhaps ' you'll improve your results' would have been better. As for " meaningless ", it may be for you, but it may be helpful to others, and this is the only reason why I posted it.

Come on man, you've been here as long as I have. Surely by now you're far beyond the make believe games and ideas that newbies conjure up. Trading isn't about pretending to be a soldier or making up fun inspirational metaphors. Those are just distractions. This forum is full to the brim with thousands of useless ideas and distractions with just a few useful gems mixed in. Retail FX Trading is about spending thousands and thousands of hours learning how to interpret technical and fundamental analysis and using as much relevant information as your resources can provide you with, to place bets on future currency movements. Nothing more.
  • #37
  • Jan 30, 2015 8:59pm Jan 30, 2015 8:59pm
I was thinking about this the other day. The best slam-dunk trades I make were seen weeks in advanced. Just had to wait for the right time. In general trading on emotion is a guaranteed loss, so in that sense patience is key, as its much more likely to be based on logic than emotion
  • #38
  • Jan 31, 2015 6:31am Jan 31, 2015 6:31am
Rooffx - Yes, it is, but how many people here on fax do that I wonder? 5%, maybe 10%, but no more. Most are looking for a miracle strategy which doesn't exist. Will they put thousands of hours sitting infront of a computer screen as you and I have done, year after year? No, of course not, and so they fail, and fail quickly. The Sniper post, albeit analogy, is just another reminder to aspiring traders of the sort of commitment and professionalism that is necessary to succeed. It is all about preparation and execution, the first takes years, the second must come instinctively. I have gone through much pain on the long road to get to where I am now, both on a financial and personal level, so I know, as no doubt you do, what it takes. The sniper helped me a great deal - it didn't make me a better analyst of course, but it helped me get to that place where the years of hard work and perseverance finally began paying off. It cost me nothing to post this thread, and people here can read it, scorn it, dismiss it, or be emboldened by it, it makes no difference to me, but within it lies a powerful directive for anyone who seriously wants to become a professional trader.
  • #39
  • Jan 31, 2015 9:11am Jan 31, 2015 9:11am
Quoting cat
Rooffx - Yes, it is, but how many people here on fax do that I wonder? 5%, maybe 10%, but no more. Most are looking for a miracle strategy which doesn't exist. Will they put thousands of hours sitting infront of a computer screen as you and I have done, year after year? No, of course not, and so they fail, and fail quickly.
nailed right on the head, seeing new traders looking for this magic indicator or strategy that will bring them endless ways of wealth, always seems to exist. You could be a successful trader and are trying to show traders what to do, but they don't want to have anything to do with it. They want this to be easy, it almost seems as if they have never had to commit themselves to something, that requires, discipline, dedication, hard work, and commitment. Sorta funny that's like having a woman in your life. Their lose I guess.


Quote
It cost me nothing to post this thread, and people here can read it, scorn it, dismiss it, or be emboldened by it, it makes no difference to me, but within it lies a powerful directive for anyone who seriously wants to become a professional trader.
Learn, a forex trader must, unlearn and relearn he will.
  • #40
  • May 26, 2015 7:02am May 26, 2015 7:02am
Read this, reread it and then read it again a thousand times. I am a shooter, i shoot at every candle that moves in my direction, no i shoot at every candle i hope that will move in my direction, and this mainly on a M1 chart; no further explanations needed i guess. Oh yes and i only trade live, i only trade DAX.

But today 4 shoots gave me 110 pips...........I only traded when i had a signal, not when i believed or hoped i had a signal.

Today i was a sniper great feeling. Thanks Cat
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