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Trading is as simple as ABCD

  • #9,381
  • Nov 18, 2015 5:00am Nov 18, 2015 5:00am
Quoting MarkFX77
Hi Guys, this week I focused 100% on this system without watching any other BS. Since Monday 15 trades - 15 winners. Going good so far. Btw, max stop loss I had on every trade was -10 pips, mostly even less, something like -5 to -7 pips. Due to this small risk I could increase my lot sizes quite nicely. End of the game, $3.100 in the pocket for three days. Since I skipped to watch all other stuff and keep it simple with as little indicators as possible it became more profitable. Success and good rest of the week!
Very nice. Some charts with trades would be great.
  • #9,382
  • Nov 18, 2015 5:04am Nov 18, 2015 5:04am
Quoting MarkFX77
Hi Guys, this week I focused 100% on this system without watching any other BS. Since Monday 15 trades - 15 winners. Going good so far. Btw, max stop loss I had on every trade was -10 pips, mostly even less, something like -5 to -7 pips. Due to this small risk I could increase my lot sizes quite nicely. End of the game, $3.100 in the pocket for three days. Since I skipped to watch all other stuff and keep it simple with as little indicators as possible it became more profitable. Success and good rest of the week!
Awesome trading Mark 15 out of 15 very good...

Thats an excellent hit ratio far better than what I'm achieving at the moment, what would you put it down to, anything in particular???

I see you've been corresponding with jason who has a take profit of 5 pips, are you banking at 5 pips too???

Great to see someone having so much success keep it simple and keep it going...
Feel the Fear and do it anyway!!!
  • #9,383
  • Nov 18, 2015 5:14am Nov 18, 2015 5:14am
Quoting bapakjason
{quote} I was wondering if that would be noticed, haha. Good question. The answer is I did take the first pullback at that same level. It moved to +3.4pips and kicked in my trailing stop (set at 3pips). Then price went back down and canceled the trade (this is why the pip-o-meter shows a ".4"). When price went back down I re-entered and it went up again for my 5pips. Funny, I did the same thing on two accounts with the same result. if you mean the very first pullback in the trend, down where price came back to the 50 level and touched the MA, I...
Thank you for your explanation.
  • #9,384
  • Nov 18, 2015 5:39am Nov 18, 2015 5:39am
Quoting MarkFX77
Hi Guys, this week I focused 100% on this system without watching any other BS. Since Monday 15 trades - 15 winners. Going good so far. Btw, max stop loss I had on every trade was -10 pips, mostly even less, something like -5 to -7 pips. Due to this small risk I could increase my lot sizes quite nicely. End of the game, $3.100 in the pocket for three days. Since I skipped to watch all other stuff and keep it simple with as little indicators as possible it became more profitable. Success and good rest of the week!

wow, really cool stuff. congrats.

btw, do you trade NY session these two days? It is pretty difficult to trade NY session for me Monday and Tuesday. would appreciate to get your opinion on that.
  • #9,385
  • Nov 18, 2015 7:50am Nov 18, 2015 7:50am
Hi guys!

@ Clive

No big magic. As you know I trade for many years already and love simple things. Two weeks ago I found your thread and really liked
the simple and easy approach without all that big BS of other systems. I cannot say that I lost much money in trading before, I trade
several years already for a living. But it always got more complicated and long story short, thats why I was a bit searching around
and end up here. Btw, thanks a lot for all the time you put into this.
My approach is rather simple, I follow exactly your strategy. Only trading pairs with super tight spreads. I stay away from this
wild horses like GBPAUD, GBPNZD and family. Waste of time. I mean yeah, might be profitable with bigger stops but I simply don't
have time for that. I tried and it doesn't fit me. I also go for very small profits, something like 5-20 pips, with very tight stops of
-5 to -10 pips. I am super aggressive trading. I go in with high lots (one full -10 pip loss costs me only -$500, so thats ok). Daily
target something between +$500 and +$1000. I know I can add another 50 indicators and light up my chart like the Empire State
Building but that leads nowhere. I have a different approach to trading than 90% of the others here. I like trading, but trading is
for me simply a "tool" to make money. I evaluate my spent time per day with +$500 "minimum". I am not saying that I am the
Godfather of Trading and only win, of course I also lose, thats part of the game. But in general I sit here until I have achieved my
daily target. And if it gets too late I try to end up in profit for the day or worst case around break even. I am simply tired of wasting
my time. Time is too precious to me, I wouldn't want to waste it in front of charts too much. Thats why I make the money and leave.
I would never click around all day and trade 0.01 lots and basically earn $2 for sitting several hours in front of my screen. I understand
traders with small accounts, they have to trade 0.01, all good there. But here are for sure also guys with 10k accounts trading micros.
But yes, key is always TIMING, EXECUTION and SPEED.

Sorry for the big bla bla, not teaching anybody anything, grateful to be here. I just wasted enough time for BS so lets keep this simple
and profitable. Thanks again!

@ henriloving

I trade from London open a few hours. Mostly I am done for the day after 1-3 hours. I avoid to trade 1-2 hours before US open until
two hours after US open. Late US is mostly nice.
  • #9,386
  • Nov 18, 2015 8:48am Nov 18, 2015 8:48am
Hi Mark,
to analyse a bit your trades.
value of 1pip =50$ (500$/10pip)
Earning after 15 trades 3100$
Pips earned in three days= 3100$/50$=62Pips
Pips won per Trade (15winners out of 15 Trades)= 62Pips/15Trades ~4,1Pips per Trade without one loosing trade.

If you have the time to answer, how do you manage your trades? Do you move the SL to BE after it moved a few pips in your desired direction? How do you calculate your Target?
Thanks in advance.
Libertad
  • #9,387
  • Nov 18, 2015 9:05am Nov 18, 2015 9:05am
Quoting MarkFX77
Hi guys! Btw, thanks a lot for all the time you put into this. My approach is rather simple, I follow exactly your strategy. Only trading pairs with super tight spreads. . But in general I sit here until I have achieved my daily target. And if it gets too late I try to end up in profit for the day or worst case around break even. I am simply tired of wasting my time. Time is too precious to me, I wouldn't want to waste it in front of charts too much. Thats why I make the money and leave. .
indeed, it's time that may be our most precious resource. Thanks for taking some to share your thoughts. -Jason
  • #9,388
  • Nov 18, 2015 9:50am Nov 18, 2015 9:50am
Entered based on overbought CCI and Stoch. Exit based on hitting the 0.6450 BRN and quickly jumping from it. I took the BE at that point. I also knew this zone to be support on the M15 and H1 chart. Turns out I left a bit on the table. Thoughts?
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #9,389
  • Nov 18, 2015 10:11am Nov 18, 2015 10:11am
A lot of you guys really seem to close trades @BE way too quickly. Let them time to develop. But maybe its just selective perception.
  • #9,390
  • Nov 18, 2015 11:11am Nov 18, 2015 11:11am
Quoting bapakjason
{quote} indeed, it's time that may be our most precious resource. Thanks for taking some to share your thoughts. -Jason
Hi Jason,

forgot to mention "luck", it's also needed.
  • #9,391
  • Nov 18, 2015 12:25pm Nov 18, 2015 12:25pm
hey guys. I am fairly new.. Can someone please help me to understand this trading system. What indicators do I need? Also what does 35lwma stands for?
  • #9,392
  • Nov 18, 2015 1:16pm Nov 18, 2015 1:16pm
Quoting Vpa021
hey guys. I am fairly new.. Can someone please help me to understand this trading system. What indicators do I need? Also what does 35lwma stands for?
I donīt want to sound mean but you should start reading this thread. Maybe in your case twice. 35wlma means a 35 period linear weighted moving average.
  • #9,393
  • Nov 18, 2015 1:52pm Nov 18, 2015 1:52pm
Quoting SeaTheStars
{quote} I dont want to sound mean but you should start reading this thread. Maybe in your case twice. 35wlma means a 35 period linear weighted moving average.
How do you expect anyone to read nearly 10,000 posts in this thread. Let's get real. Newbies, myself included would definitely appreciate atleast a summary of this simple trading system

TIA
  • #9,394
  • Nov 18, 2015 3:59pm Nov 18, 2015 3:59pm
Hi VPA, most folks would at least put the effort in to read the first few pages and note the updates Clive gave at the beginning to where the latest iteration of this approach commences in the thread. You are right it would be 'nice' to get a summary from someone the moment you arrive here but yes, lets get real, people posting here all find time precious and are either busy making money to meet their commitments or trying to achieve a breakthrough in their trading no doubt under some pressure. No one here 'owes' anyone an explanation the moment they pop their head through the door like someone is paid a retainer to keep all newbies up to date without them having to invest any time in their own education.

Suggest you do what most of us have done and either invest the time to read the whole thread (yes that may take a week or so if you plan to absorb it all) or at least read the start and go to the places in the thread Clive has recommended to get the latest info. After that, your questions will be more focused and potentially open up fields of discussion that may benefit all.

Hope you stick around and find out more. A suggestion fwiw (may or may not be relevant for you), flitting from one thread to the next grabbing 5 mins guidance on how to set up a chart with that threads system and hoping to make progress wont get you very far, many of us have been on that holy grail treadmill and wasted too much time. Within this thread a lot of subtleties that make or break a system are examined and explained - worth going through imho. Of course if the style doesn't suit your psyche then keep looking.

Best of luck, cheers Paul.
  • #9,395
  • Nov 18, 2015 4:05pm Nov 18, 2015 4:05pm
Quoting MarkFX77
{quote} Hi Jason, forgot to mention "luck", it's also needed.
Ha Mark - 15 out of 15 is a remarkable piece of 'luck', I think its like a famous golfer once said..... "its amazing how the more I practice - the luckier I get".

Thanks for posting your results and following details of trade times - inspirational and insightful...cheers...Paul.
  • #9,396
  • Nov 18, 2015 8:31pm Nov 18, 2015 8:31pm
Quoting Paulnz57
{quote} Ha Mark - 15 out of 15 is a remarkable piece of 'luck', I think its like a famous golfer once said..... "its amazing how the more I practice - the luckier I get". Thanks for posting your results and following details of trade times - inspirational and insightful...cheers...Paul.
patience, persistence, discipline, focus. Nice golf quote.
  • #9,397
  • Nov 18, 2015 9:34pm Nov 18, 2015 9:34pm
Quoting capstone
Entered based on overbought CCI and Stoch. Exit based on hitting the 0.6450 BRN and quickly jumping from it. I took the BE at that point. I also knew this zone to be support on the M15 and H1 chart. Turns out I left a bit on the table. Thoughts? {image}
Capstone, 3 options:
1) don't trade into known support/resistance (or)
2) set your TP at the support/resistance if you do like the set up (which would have made some profit here) (or)
3) wait until price crosses through support/resistance and another set up occurs

Look for a way to say 'I have momentum on the 1hr TF' ?
This is just my humble opinion of possible options and I hope it helps (since you asked for thoughts on the trade). -Jason
  • #9,398
  • Nov 18, 2015 10:15pm Nov 18, 2015 10:15pm
Little one in the morning.
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  • #9,399
  • Nov 19, 2015 2:25am Nov 19, 2015 2:25am
Quoting Paulnz57
{quote} Ha Mark - 15 out of 15 is a remarkable piece of 'luck', I think its like a famous golfer once said..... "its amazing how the more I practice - the luckier I get". Thanks for posting your results and following details of trade times - inspirational and insightful...cheers...Paul.
Hi Paul! Very good quote!! Never saw it that way but seems logic !
  • #9,400
  • Edited 9:13am Nov 19, 2015 2:31am | Edited 9:13am
Quoting GodsClown
Little one in the morning.{image}
Always nice to see you post a chart GodsClown.
#1 here I got out of fearing the "dreaded Frankfort reversal". Should have stayed in!
#2 TP
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#3/4 (entered with wrong lot size, then entered again with correct size , so basically 2 trades on top of each other)
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added some more trades here. done for the day.
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