Someone talk to me about trading | Forex Factory

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Someone talk to me about trading

  • #1
  • First Post: Aug 26, 2015 8:21pm Aug 26, 2015 8:21pm
I know I've come across as a bit of a twat to some people over the years, but I can assure you I wish no one any harm. A couple of people have even subscribed to me!! Please don't do that as I'm not there yet. Some people have pm'd me saying they agree with what I've said!! I 'm not a guru. More of a dick at the mo. Anyway, how does someone trade to make money? I have my ideas, like to hear other people's. Seriously. The principles involved. Not the same old poop we've heard all before, ( some of it might be right) something fresh anyone? Oh yeah, and trolls, and people being negative and slagging me off....are quite welcome. Just talk trading . Thank you.
  • #2
  • Aug 26, 2015 9:09pm Aug 26, 2015 9:09pm
Quoting TheGreatMilenko
Anyway, how does someone trade to make money?.
Buy when price is going up, sell back when it starts going down. Sell when price is going down, buy back when it starts going up.
  • #3
  • Aug 26, 2015 9:17pm Aug 26, 2015 9:17pm
Quoting Atokys
{quote} Buy when price is going up, sell back when it starts going down. Sell when price is going down, buy back when it starts going up.
Thank you for taking the time to reply. I totally agree with you . Although, we both know there's a bit more to it than that.Time frame?
  • #4
  • Aug 26, 2015 9:19pm Aug 26, 2015 9:19pm
I think you have the balls to say what most of us are thinking anyways, so kudos for that.

As far as trading goes, I personally subscribe to a value-based strategy. I want to buy price in "wholesale" territory, and sell in "retail" territory. Furthermore, I only ever buy on a downtick/downbar, as well as sell on an uptick/upbar (crucial in my opinion). You're on the right track to making money though....it seems like you weed the B.S. out pretty well That's half the battle!

Value:
https://therionorteline.files.wordpr...bell-curve.jpg
  • #5
  • Aug 26, 2015 9:20pm Aug 26, 2015 9:20pm
Quoting TheGreatMilenko
{quote} Thank you for taking the time to reply. I totally agree with you . Although, we both know there's a bit more to it than that.Time frame?
Time frame is up to you, I prefer daily. I think it would also be helpful if you could design a system or method that does the buying and selling for you.
  • #6
  • Aug 26, 2015 9:26pm Aug 26, 2015 9:26pm
Quoting Benevolent
I think you have the balls to say what most of us are thinking anyways, so kudos for that. As far as trading goes, I personally subscribe to a value-based strategy. I want to buy price in "wholesale" territory, and sell in "retail" territory. Furthermore, I only ever buy on a downtick/downbar, as well as sell on an uptick/upbar (crucial in my opinion). You're on the right track to making money though....it seems like you weed the B.S. out pretty well That's half the battle! Value: https://therionorteline.files.wordpr...bell-curve.jpg...
Thank you for your comments. Much appreciated. I would never buy on the way down or sell on the way up.But hey , thanks again and thanks for the link.
  • #7
  • Aug 26, 2015 9:27pm Aug 26, 2015 9:27pm
Quoting Atokys
{quote} Time frame is up to you, I prefer daily. I think it would also be helpful if you could design a system or method that does the buying and selling for you.
Yeah, I prefer longer time frames too.
  • #8
  • Aug 26, 2015 9:33pm Aug 26, 2015 9:33pm
What do you folks think about the equity millipede and dibs stuff?
  • #9
  • Aug 26, 2015 9:35pm Aug 26, 2015 9:35pm
Quoting TheGreatMilenko
What do you folks think about the equity millipede and dibs stuff?
I've never heard of that, please explain.
  • #10
  • Aug 26, 2015 9:37pm Aug 26, 2015 9:37pm
Quoting Atokys
{quote} I've never heard of that, please explain.
If you look in trading systems, you'll find them there. They are longer term methods, which seem to make sense to me, but difficult to stick with.
  • #11
  • Aug 26, 2015 9:39pm Aug 26, 2015 9:39pm
Quoting TheGreatMilenko
{quote} If you look in trading systems, you'll find them there. They are longer term methods, which seem to make sense to me, but difficult to stick with.
Describe them in simple terms.

If they are difficult to stick with then you should probably find a strategy that is easier for you to stick with.
  • #12
  • Aug 26, 2015 9:41pm Aug 26, 2015 9:41pm
Anyway, how does someone trade to make money? - makes me think you don't know much about forex - no offense intended. Then you say that you have your own ideas, so you know about fx. Hard question
Short answer: it's commerce. Buy when the price is low, sell when it's high. I think Nanningbob illustrates this the best with his 4H strategy.

Why not try some strategies from the trading systems forum? Maybe you'll find something that matches your ideas and improve your method.
Either way, I suggest you read Technical Analysis Using Multiple Timeframes by Brian Shannon. It's very easy to read/understand, even by a non English speaker like me. I can honestly say that it's the best technical trading book I've read.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #13
  • Aug 26, 2015 9:43pm Aug 26, 2015 9:43pm
Quoting Atokys
{quote} Describe them in simple terms. If they are difficult to stick with then you should probably find a strategy that is easier for you to stick with.
Very simply, you place trades every day, with small stoploss, in line with daily, weekly trends, and hold the ones that don't get stopped out for months and months, for massive profits.
  • #14
  • Aug 26, 2015 9:50pm Aug 26, 2015 9:50pm
Quoting wattaman
Anyway, how does someone trade to make money? - makes me think you don't know much about forex - no offense intended. Then you say that you have your own ideas, so you know about fx. Hard question Short answer: it's commerce. Buy when the price is low, sell when it's high. I think Nanningbob illustrates this the best with his 4H strategy. Why not try some strategies from the trading systems forum? Maybe you'll find something that matches your ideas and improve your method. Either way, I suggest you read Technical Analysis Using Multiple Timeframes...
Thank you for your response. I know a bit about forex!Been trading for 10 years and I'm not broke! I'm not asking for someone to tell me what to do or what system to use, I use what I think is going to work, combination of things I have picked up and thought about over the years. just wanted to get a discussion going. Thank you.!
  • #15
  • Aug 26, 2015 9:53pm Aug 26, 2015 9:53pm
To be successful, you must stick to a plan that does the following:
- Cut losers
- Ride winners
- Manage risk

Your typical technical system can do the first 2, but you must pay attention to managing risk if you want long term survival?
  • #16
  • Aug 26, 2015 9:55pm Aug 26, 2015 9:55pm
Quoting Atokys
To be successful, you must stick to a plan that does the following: - Cut losers - Ride winners - Manage risk Your typical technical system can do the first 2, but you must pay attention to managing risk if you want long term survival?
Totally agree. the equity millipede and dibs do all three.
  • #17
  • Aug 26, 2015 9:56pm Aug 26, 2015 9:56pm
Listen lads, must go to bed now , 4am here. Thank you all for responding. Hope we talk more soon. Nighty night.
  • #18
  • Aug 26, 2015 9:56pm Aug 26, 2015 9:56pm
Brotha, it sure ain't easy. I've had some success, but even after 11 intense years of this game, I still have my share of losing trades too. There are so many things that can go wrong in trading. We not only have the market, with all its various tricks, to contend with, but just as important we have our own personal flaws that can constantly screw us up. The old demons like greed, fear, and impatience are inside of all of us to certain degrees. To overcome them, we must first become aware of how they present themselves in many unique scenarios. This can only be done through careful scrutinization of each loss/mistake that we make. For when we lose, it is always our fault and no one else's. We must always take responsibility for our losses. Even if, for example, our broker screwed us over. It was our fault for being with such a broker!

As far as the market goes, we all have our own styles. The important thing is to constantly evolve. Never give up, give it absolutely everything you've got, and don't let anything or anyone outside of trading get in your way. Do that and only death can stop us from reaching our most lofty goals.
  • #19
  • Aug 26, 2015 10:01pm Aug 26, 2015 10:01pm
Quoting TheGreatMilenko
{quote} Totally agree. the equity millipede and dibs do all three.
Are you sure? A risk management plan involves:
- Limiting your market risk exposure to a tolerable level
- Using a position size that reduces risk of ruin
- Selecting which markets to play to provide diversification benefits but avoid over-trading
  • #20
  • Aug 26, 2015 10:02pm Aug 26, 2015 10:02pm
Quoting Zappa
Brotha, it sure ain't easy. I've had some success, but even after 11 intense years of this game, I still have my share of losing trades too. There are so many things that can go wrong in trading. We not only have the market, with all its various tricks, to contend with, but just as important we have our own personal flaws that can constantly screw us up. The old demons like greed, fear, and impatience are inside of all of us to certain degrees. To overcome them, we must first become aware of how they present themselves in many unique scenarios....
Thanks Frank. Bed for me now.
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