Invincibility lies in the defence; the possibility of victory in the attack
- #7,243
- May 30, 2016 12:21pm May 30, 2016 12:21pm
- Joined Mar 2012 | Status: Trader | 14,377 Posts
{quote} I do agree with this to a point. It's just hard for me to fathom that someone (Dee) would only post winning trades for years on end. For what? to make himself look good on Forex Factory? I could see if he had some sort of alternative motive to sell courses... but he has never even hinted at this. He has shared everything for free. Hell, I may be in the crazy camp to think this is possible. I think the reason I believe this is possible is because Dee has lots of BE +2's. He would only need price to move +6 in his favor before getting to BE....
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #7,245
- May 30, 2016 7:22pm May 30, 2016 7:22pm
- Joined Sep 2014 | Status: No permanent address | 673 Posts
Considering most of you have voiced you opinions here about Dee, I feel inclined to do the same, so we can move on. Does he trade without loss? I can't prove he does, and I can't disprove it with certainty. Dee never claimed 100% successful trade rate, but has stated that he takes losses, but they are few and rare. Has he posted all of them?The fact is that the guy doesn't owe anyone anything. He shared his time here teaching about SR, FIBS, Patterns, PA, etc and thats what I am grateful for. It is possible with enough knowledge of PA, and a lot...
Kind of like slipping a fart in a crowded elevator........having said that the goal is positive $$$`s at the end of each month. If we achieve that with some degree of grace then I call that success....I agree that the market is in a classic trend maybe 30% of the time. My scalping strategy struggled in a trend and so did I....eventually I started to get the hang of trend trading[HH_HL_LL_LH]......Now I am working on a mindset that can shift between the 2 strategies better.....that includes sitting tight for a day or so to verify the Market and getting the brain re-wired accordingly .....
I hope Dee returns......I am glad the thread still continues to attract new ideas while keeping with the More Simple renco principles...
{quote} Nice comments.....I think all of us who share our trades here can state with absolute certainty that we have had dog poop trades we keep to ourselves
I totally agree about the mind set. You cant trade trend the same way as consolidation. HHHLLLLH is a great principle and has also helped me a lot.
Just to give a quick example of this, one can take a look at the GER30 for the past few days. On the second day of the run, i went in stupid looking for reversals. No LL ever printed, let alone LH, oscillators keeping high. In such a trending market, to go looking for a divergence, at brn or S/R/fib etc and going short, will most likely fail.(hdivs work well) In a consolidating market, about 70% of the time, it will work rather well. So one does need two "mental" strategies for different market conditions and I would say experience to see the shift from one to another. On the third day, i got it right and how? I looked at HHHLLLLH and paid attention to oscillators on HTF.
This actually maybe one of the reasons why the failure rate in Forex is so high - when I traded kiss methods, like many other traders, i would make $ in the trend, give it back in consolidation and some. If you make money in the consolidation, you will probably give it all back in trend when you go guessing tops without making the "mind switch". I am still working on this as well.
As for the losing trades, i would say that the only important thing is to learn from them, and avoid repeating them if possible.
I also hope that Dee returns to the thread and I hope everyone here achieves their trading goals. As you said, whats important is the $$$ in hand at the end of the day/week/month, not necessarily how you get it. - I hope nobody misinterprets this and seeks out a life of drug trafficking or prostitution
Best, Josh
GER30 +17(3lots), many BE+2s,-10-12,+16+21. Not pretty, but I hit my daily target. My first trade, i opened 3 lots by error, but it worked out well. I will say one thing - I totally understand why Dee uses the 10 pip chart as his main chart...the 5 pip chart gets me into trouble and causes too much second guessing. My exits were crap on the last 2 trade, i should have held longer. However, I stupidly continued hoping for a 123 double, that I did not see the big picture anymore...i was just focusing on recovering the earlier loss.
I ended up not trading yesterday - here is a tip for free - if your girlfriend accuses you that you pay more attention to charts than her - LIE, lie your a$$ off !!!!
When i have a few drinks, I get brutally honest, so my reply was that I find charts far more interesting....didn't go well.
Best, Josh
I ended up not trading yesterday - here is a tip for free - if your girlfriend accuses you that you pay more attention to charts than her - LIE, lie your a$$ off !!!!
When i have a few drinks, I get brutally honest, so my reply was that I find charts far more interesting....didn't go well.
Best, Josh
- #7,256
- Jun 1, 2016 5:13am Jun 1, 2016 5:13am
- Joined Aug 2011 | Status: Mos P from Cape to Cairo | 2,728 Posts
Let it turn and find your entry.
- #7,257
- Jun 1, 2016 5:37am Jun 1, 2016 5:37am
- Joined Aug 2011 | Status: Mos P from Cape to Cairo | 2,728 Posts
DAX is looking so appealing now, can't wait till I can trade full lots.
Cya all tomorrow, green pips
Cya all tomorrow, green pips
Let it turn and find your entry.
It seems it just can't get simpler than it is right now, just follow the direction of the HTF chart and watch out for a few patterns which repeat themselves over and over again. I missed the largess of GU yesterday but today is a new day and new month and a promising start, we pray volatility remains up and up so we can continue to find entries and exits profitably. I still have to deal with taking trades that look like CT on the REN 4 chart when in the end they turn out to be the bread and butter of the day. Can't wait for NYO because of power...
