Trading is as simple as 1-2-3

http://www.forexfactory.com/showthre...99#post8903599

"The secret to trading then, just perhaps, is not just learning to trade with momentum on your side or learning to identify when price is about to break out of its range, it is the ability to put on the next trade irrespective of the result of the last one, and to keep on doing it trade after trade. Few can do this. Few of us can truly accept the enormity of our own fallibility. We want to be special, to be the person that can see what others can't, to do something that actually can't be done, which is to master the markets, when in fact all we have to do ultimately is master ourselves as traders and learn to take advantage of the numerous opportunities the markets present us with.

It is so simple, and yet, it is perhaps the most difficult thing any of us have ever attempted to do." - cat

That is wisdom.

DEFINITION of 'Let Your Profits Run'
A saying often used in investing that acknowledges the tendency among investors to sell winning positions too early. Most traders tend to take gains off the table early out of fear that they will evaporate quickly, while they also tend to hold onto large losing positions in the hope that they will turn around. The key to letting your profits run is to not panic when volatility increases and to maintain your convictions about why you entered into the trade.

The idea of "letting profits run" is what causes many traders to lose. Not every trade is going to run.

Trade talk:

Hey it looks good, hit the button
Dang it, now the SOB dropped on me
$%^&*&^
It's coming back.
Come on you (*&(*^
Finally, you ^((\
Got me a few pips.
OH F&*)((\
SOB is now running.
Next time I will let my profits run.

Sometime in the near future:

Ok, here we go, hit the button
Yeah, I am up a few pips.
Gonna let this sucker run
F***!
G*d Da**it!!
SOB dropped like a rock.

Any of that sound familiar?

Next hour...

It isn't a secret that I study Bruce Lee:

The Speed Training Of Bruce Lee
How To Be The First With The Most
The object of a fight is to hit your opponent before he can hit you. Of course that is easier said than done. Martial arts instructors can teach you how to improve your timing, balance, mobility and endurance, but how in the world can they teach you how to hit faster than your opponent? Speed is an inherent quality, and difficult, if not impossible, to teach.
Or is it?
In Bruce Lees fighting method jeet kune do, the development of speed is not only addressed, it is dissected and approached in a variety of ways.
Types of Speed
In jeet kune do, speed training is broken down into five phases, each of which can be developed independently or as part of a whole. They are:
Perception speed. When fighting, martial artists must constantly sense and respond to various stimuli. Mastering the ability to perceive the subtleties in an opponents movements, is he attacking, retreating, punching or kicking? Is the first phase of speed training? Simply seeing the opponents movements is not enough. You must learn to hear, feel and smell the opponents intentions.
Perception speed is defined as the time it takes you to mentally register the opponents intentions once you first sense his offensive or defensive stimulus. To increase your speed of perception, it is important to maintain an attitude of emptiness, or what Bruce Lee called no-mindedness. You must learn not to concentrate too much on details. Look at nothing, but sense everything.
According to Lee, A concentrated mind is not an attentive mind, but a mind that is in the state of awareness can concentrate. Awareness is never exclusive, it includes everything. A mind must be wide open to function freely in thought.
Technique #1
Mental/decision speed. Once you have sensed the opponents intention, you must decide how to respond. Do you evade, block, parry, jam, intercept or counter his attack? Your decision speed is determined by the length of time it takes you to sense the opponents stimulus and selects an appropriate response.
Your ultimate goal is to be able to respond quickly and instinctively. Initiation speed. The time that it takes to transfer your decision to punch from the brain to your fist, and actually begin the punch, is your initiation speed. You must condition yourself to relay the opponents stimulus to your brain, and then to your striking or defending limbs as quickly as possible. The slightest hesitation can mean the difference between hitting, or being hit by, the opponent.
Performance speed. Once your response decision has been converted into an initial movement, the time it takes you to get from point A to point B is your performance or raw speed. You can have the quickest perception, decision and initiation speed in a fight, but if your fist travels like a salmon swimming upstream, your chances of scoring on the opponent are minimal.
Alteration speed. Lee defined alteration speed as the ability to change direction midstream. In the ever-changing conditions of a fight, there is always the potential to make an unwise decision or dangerous mistake. If you freeze up in such situations, you have a strong chance of getting hit. If you possess good alteration speed, however, you can make a reflexive adjustment, correct the error, and still score on your opponent.

Apply that to your trading.

Yes, it is ironic that someone called TooSlow talks about speed.

Next hour...

I repeat this so new comers don't have to go back to the first post:

A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.

A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.

Let me rephrase in the form of yes/no or true/false questions.

1) Did a new daily high or new daily low happen during the previous bar. If YES/TRUE go to question 2, otherwise find another pair.

2) Did this bar test ( get near ) the new daily high or new daily low of the previous bar. If YES/TRUE go to question 3, otherwise find another pair.

3) Has price returned to the open price of the current bar. If YES/TRUE enter the trade in the direction price is crossing the open, otherwise do not enter the trade.

"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.

"Perfection is not when you have nothing more to add, but when you have nothing more to take away." - Antoine De Saint Exupery

"It is not about adding on, but taking away. The less technique, the better you are." - Bruce Lee


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!

No secret.

Welcome new people.
By all means, please ask questions.

Another highest open short trade.
Remember, this is a derivation for advanced traders.

Next hour or...
Trade daily open crossover.

Daily open crossover

Next hour...

Another lowest open trade paid off...

HIGHEST OPEN / LOWEST OPEN TRADE (Advanced Traders Only)

Place a line at the highest H1 open and lowest H1 open for the current day.

Sell short at the highest H1 open after price goes up through it and comes back down.

Buy at the lowest H1 open after price goes down through it and comes back up.

Please observe the bar following the bar that made the current daily high or daily low will not necessarily be the bar that makes the highest open or lowest open.

This is a derivation of the 1-2-3 rules.

In the above chart:

Bar[2] has the lowest open.
Bar[0] Price crossed below and then above the lowest open.

Bar[6] has the highest open.
Bar[1] Price crossed above and then below the highest open.

This trade what I consider simple:

1. There are no computations.
2. There is no analysis.
3. There is no prediction.
4. Either you enter the trade or you don't.

The floor is open for questions.

"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.

"Perfection is not when you have nothing more to add, but when you have nothing more to take away." - Antoine De Saint Exupery

"It is not about adding on, but taking away. The less technique, the better you are." - Bruce Lee


Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!

Today is a very good day

Lowest open trade...

Highest open trade...

Highest open trade...

Highest open trade...