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1 year profitable trading goal

  • #501
  • Aug 19, 2016 9:20am Aug 19, 2016 9:20am
Quoting teton
{quote} And knowing your own strenth when it comes to trading. To many people suffer from the Dunning-Kruger effect https://en.wikipedia.org/wiki/Dunnin...3Kruger_effect Hope it has been a profitable week for all
Nice Theory there Teton. And great Nobel for that. But the fact it is still Theory, not Law yet. Like all Financial Theory battle between Austrian Economics and Keynesian Economics. Psychology is not "real science". It is "applied science". Psychiatry is the "real science".
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #502
  • Aug 19, 2016 9:47am Aug 19, 2016 9:47am
Quoting RoelsMajor
{quote} This is My chart anyway. I agree keep an eye for this pair. This is Friday, anything big will come in short period, un-expected. Note: - Lucky today, As I write this to You, My GU trade hit TP in one spike! - EU playing "dirty tricks" and won't go down. Special care, if short happen, will be big lighning spike maybe. {image} {image}
I forgot about GU trade on another account and just remembered now...would have been much nicer closing on that high activity below half..
I'm getting old.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDiM15 short 19.8..png Size: 58 KB

Now THAT is definitly a sign I enter too many trades.
PVSRA
  • #503
  • Aug 19, 2016 10:12am Aug 19, 2016 10:12am
Quoting Fisher755
{quote} I forgot about GU trade on another account and just remembered now...would have been much nicer closing on that high activity below half.. I'm getting old. {image} Now THAT is definitly a sign I enter too many trades.

Hey fisher good way to trade, what iv been looking is that the people that has more return use the a kind of martingala system, beggining in very low profits, like 0.3% per trade, some times if they are very sure put a 1% or maybe 2% maximum. but i saw that sometime people doesnt control this and i saw that people risk 0.3%, then 0.6%, then 1.2%, then 2.4% o so on until they are loosing 20% total, i think thats too risky, but the idea i think is good, can you share how do you manage it, because i think your mm has something about martingala system.

Thanks, and good trading to all
Im a Crocodile, Im a Sniper. Patience is everything.
  • #504
  • Edited 10:48am Aug 19, 2016 10:27am | Edited 10:48am
Quoting Brucasella1
{quote} Hey fisher good way to trade, what iv been looking is that the people that has more return use the a kind of martingala system, beggining in very low profits, like 0.3% per trade, some times if they are very sure put a 1% or maybe 2% maximum. but i saw that sometime people doesnt control this and i saw that people risk 0.3%, then 0.6%, then 1.2%, then 2.4% o so on until they are loosing 20% total, i think thats too risky, but the idea i think is good, can you share how do you manage it, because i think your mm has something about martingala...
No, I don't use Martingale.
I complicate as hell , so it is really difficult to explain, but I can at least try.
I trade only PVSRA, but mix styles. ATM using 3 different : HTF, TVT20 (intraday) and scalps. So obviously, the higher the TF, the smaller EP size has to be, becouse SL must be wider. And the other extreme- scalps you cannot trade small for 3-10 pips. So I vary sizes for that reason.
Next, I usually pick one or 2 or even 3 main pairs for the day and I like to use up to 3 bullets, sometimes 5 depends on the quality of a setup. So depending on quality- early in the HTF swing or late, I choose if risk more or less. The same goes for good PVSRA clues and many of them or not so good.
The size also depends on the session and the day- AS smaller EPs ( this I am rethinking lately) becouse I mostly sleep then. And Mondays and Fridays also preferable smaller EPs . So yeah, this is really complicated. But definitly no martingale and trying to cut red as soon as possible if not trading HTF. Also moving SL to BE as soon as possible and this costs me sometimes of better profits, but the main goal is reducing risk as much as I can.

Hope this helps, but I can imagine it is hard to understand. I came to this thru expirience and lots of hours screen time. But whatever keeps you green and Works for you is fine.

EDIT:
Oh, and if I have to HFS- fold and switch direction- then it is nice if when switching trade size is double than initial one to get out green. But this I don't do on Fridays and that's why I finished last Friday red (used the same trade size when switched).
PVSRA
  • #505
  • Aug 19, 2016 10:46am Aug 19, 2016 10:46am
Quoting Fisher755
{quote} No, I don't use Martingale. I complicate as hell , so it is really difficult to explain, but I can at least try. I trade only PVSRA, but mix styles. ATM using 3 different : HTF, TVT20 and scalps. So obviously, the higher the TF, the smaller EP size has to be, becouse SL must be wider. And the other extreme- scalps you cannot trade small for 3-10 pips. So I vary sizes for that reason. Next, I usually pick one or 2 or even 3 main pairs for the day and I like to use up to 3 bullets, sometimes 5 depends on the quality of a setup. So depending...

Thank you so much. English is not my first language so i want to ask you this.

PVSRA is Price, Volume, S&R Analysis (this is a system right?

What is ATM, HTF AND TVT20? HTF is high time frame?

TF is timeframe right,? what is EP?

AS?


How long have you been profitable and what timeframes do you usually use?


Thanks men.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #506
  • Edited 11:18am Aug 19, 2016 10:56am | Edited 11:18am
Quoting Brucasella1
{quote} Thank you so much. English is not my first language so i want to ask you this. PVSRA is Price, Volume, S&R Analysis (this is a system right? What is ATM, HTF AND TVT20? HTF is high time frame? TF is timeframe right,? what is EP? AS? How long have you been profitable and what timeframes do you usually use? Thanks men.
EP-Entry Price.
ATM- at the moment
AS- Asian session
TF- time frame
HTF- higher time frame (h4, Daily)

TVT20 is the simplest PVSRA trading method. Intraday, aiming cca 20 pips. More or less. The main thinking behind TVT20 trading style is that every average trader is able to take at least 20 pips per day from all the ranges and all the pairs. But requires discipline and patience for stalking. You can read more details about it on PVSRA thread and/or PVSRA website linked to my profile.

Quoting Brucasella1
{quote} Thank you so much. English is not my first language so i want to ask you this. PVSRA is Price, Volume, S&R Analysis (this is a system right? What is ATM, HTF AND TVT20? HTF is high time frame? TF is timeframe right,? what is EP? AS? How long have you been profitable and what timeframes do you usually use? Thanks men.
BTW, your monthly profit is great too. I would have to have my $$$ in my bank for 56 years to get that % gain. While you trade only 3 months for that.
PVSRA
  • #507
  • Aug 19, 2016 11:29am Aug 19, 2016 11:29am
Quoting Fisher755
{quote} EP-Entry Price. ATM- at the moment AS- Asian session TF- time frame HTF- higher time frame (h4, Daily) TVT20 is the simplest PVSRA trading method. Intraday, aiming cca 20 pips. More or less. The main thinking behind TVT20 trading style is that every average trader is able to take at least 20 pips per day from all the ranges and all the pairs. But requires discipline and patience for stalking. You can read more details about it on PVSRA thread and/or PVSRA website linked to my profile. {quote} BTW, your monthly profit is great too. I would...

What is cca and BTW, im still learning , sorry hahaha.

I have a good profit until now, but i need to control more my drawdown, my open trades at the same time, and my risk per trade ratio, i was using 6.5% per trade, but that too much, so i was looking that some traders uses 0.3%, and maximum 2%, and i like that, but my problem is that i work usa session, and i sleep gb session, so i have it hard.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #508
  • Aug 19, 2016 11:31am Aug 19, 2016 11:31am
What happened to the guy who started all of this?

I have been trading better than i expected. Just have to get rid of my red trades but don`t want to close them on red (I have time to wait).
  • #509
  • Aug 19, 2016 11:35am Aug 19, 2016 11:35am
Quoting Mr.Dan
What happened to the guy who started all of this? I have been trading better than i expected. Just have to get rid of my red trades but don`t want to close them on red (I have time to wait).

He was very red, i dont know if he still have the enthusiasm to reply here.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #510
  • Aug 19, 2016 11:38am Aug 19, 2016 11:38am
Quoting Mr.Dan
What happened to the guy who started all of this? I have been trading better than i expected. Just have to get rid of my red trades but don`t want to close them on red (I have time to wait).
I was thinking the same once, but it is really great to get used to closing red. As small as possible of course. It gives you freedom.
PVSRA
  • #511
  • Aug 19, 2016 12:16pm Aug 19, 2016 12:16pm
At Last! I got the recovery at trade #78. 18 days has passed and now back to green pips 0.8%, very good week for Me. Hope next week will be even better.

Thank U All.
Attached Image (click to enlarge)
Click to Enlarge Name: Trade 78 Recovery.jpg Size: 58 KB
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #512
  • Aug 19, 2016 12:19pm Aug 19, 2016 12:19pm
Quoting RoelsMajor
At Last! I got the recovery at trade #78. 18 days has passed and now back to green pips 0.8%, very good week for Me. Hope next week will be even better. Thank U All. {image}
Jumping banana smiley missing here...


Not good, excellent week and very nice many green pips!
PVSRA
  • #513
  • Aug 19, 2016 12:31pm Aug 19, 2016 12:31pm
Quoting Brucasella1
{quote} He was very red, i dont know if he still have the enthusiasm to reply here.
Well, Benaiah had a hardtime, but will be good if He share his trades and why He take the positions in this hard time moment. Trading need partners and friends to communicate, and will help U pass the hard time together in other way around.
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #514
  • Aug 19, 2016 12:32pm Aug 19, 2016 12:32pm
Quoting RoelsMajor
At Last! I got the recovery at trade #78. 18 days has passed and now back to green pips 0.8%, very good week for Me. Hope next week will be even better. Thank U All. {image}

Good RoelsMajor, now, take some rest, be far from trading disease for now, when we are winning we want to trade more and more because we think we are invencible.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #515
  • Aug 19, 2016 12:35pm Aug 19, 2016 12:35pm
Quoting Brucasella1
{quote} Good RoelsMajor, now, take some rest, be far from trading disease for now, when we are winning we want to trade more and more because we think we are invencible.
Yes, overconfidence and shit...

But, I like it how Roels made green again with smaller EPs than the losing ones. Makes him well ahead on green pips, which are more important for consistency than $$$.
Shows that he has less stress and more patience- both desirable for trading.
PVSRA
  • #516
  • Aug 19, 2016 2:51pm Aug 19, 2016 2:51pm
Quoting Mr.Dan
What happened to the guy who started all of this? I have been trading better than i expected. Just have to get rid of my red trades but don`t want to close them on red (I have time to wait).
His TE is still up.

My advice to him is to use wider stops for gold... 200 pips at least if his target is 500+ pips. Gold is the craziest cross to trade - reverses on a dime and spikes with no real purpose. Lots of 100-200 pip 1-2 hour moves. Can either make you or break you, but you need a good sized stop loss to withtand - if you are going for lots of pips.
Trade in the now
  • #517
  • Aug 19, 2016 3:01pm Aug 19, 2016 3:01pm
Quoting Brucasella1
{quote} What is cca and BTW, im still learning , sorry hahaha. I have a good profit until now, but i need to control more my drawdown, my open trades at the same time, and my risk per trade ratio, i was using 6.5% per trade, but that too much, so i was looking that some traders uses 0.3%, and maximum 2%, and i like that, but my problem is that i work usa session, and i sleep gb session, so i have it hard.
I missed that post...
BTW...by the way
Cca is general term, means more or less, not so exact number.

6.5% per trade can be too big or not, this is very relative. But in reality, mostly there is no need to risk so much becouse higher risk affects the judgement and make people "marry" with the trade or bias, which is not wanted. It is much easier to focus without that stress, so long term better having less risk.

Time restrictions are problematic, but unfortunatly we have to adopt to market becouse market Will never adopt to us. We are ment to be victims ... trading against us is like shooting ducks in the barrel for big boys, so we should stick together and help each other.
PVSRA
  • #518
  • Aug 20, 2016 2:12am Aug 20, 2016 2:12am
Quoting RoelsMajor
{quote} Yes Sister. You still have a lot profit left this month. 37% is not an easy job per month. Thats amazing. Anyway I think UJ will not go down again. The range still 59 from 124 and the gap beetween two EMAs possibly will create the cross upside in NY. Look Bullish to Me. In all Major Pair, this pair seriously very hard to analyse, very smart big players. And We got confirm of rising bullish volume on H1. I am very very exciting on this pair. I am obsessed, get profit[/highlight]...
UJ Comment:
We are in no man's land zone and no sign of bulls here yet. We might get some signs by Tuesday LS (Monday mostly liquidity gaining, probably nothing).
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYiDaily.png Size: 59 KB
PVSRA
  • #519
  • Aug 20, 2016 5:16am Aug 20, 2016 5:16am
Quoting Fisher755
{quote} UJ Comment: We are in no man's land zone and no sign of bulls here yet. We might get some signs by Tuesday LS (Monday mostly liquidity gaining, probably nothing). {image}
Agree. Missed the Train Zone to the Bottom on the Daily Charts. Maybe "The Markets" want to make a new history after last this 3 or 4 years.
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #520
  • Aug 20, 2016 5:22am Aug 20, 2016 5:22am
Quoting RoelsMajor
{quote} Agree. Missed the Train Zone to the Bottom on the Daily Charts. Maybe "The Markets" want to make a new history after last this 3 or 4 years.
It is tradable both ways on M15, but there must be clear consolidation below or above important level and atm even M15 or M30 tell nothing- not enough clues.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYiM30.png Size: 69 KB

Stayed completly flat the whole Friday, so my gues is Monday consolidation can give us more clues. It might happen in one session too, but this is less likely,
probably MMs will want more liquidity so low on HTFs. The question is will they suck sellers and run up or will they suck buyers and continue one more leg down.
This will all be visible until Tuesday, or maybe they might even wait for the major news event and then run it very quickly without looking back.
The longer the consolidation goes on, the faster and better the run for profits will be.
PVSRA
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