Trading is ...

+1

Thats it! You got it...

-fighter-

We never know when a trend will start, we only know when the trend is already in progress.

We can find a trend using or not indicators and there are different trends, annual, weekly, daily, hourly ...
Choose a trend according to your type of trading.

Choose your style.

Trading is reality check after being best at school, best at work, best at ... just try trading and everything changes.

Now that we found the trend ... what are we waiting for?

Not all the retracement are equal, some are fast, some are slow, some are small some are big.
Do not be afraid of being wrong in being a reversal rather than a retracement, because reversal exist only one in each trend and retracements are several.

Now that we think the retracement is complete we are ready to pull the trigger.
Don´t hesitate.

There are various type of triggers:
Pinbars, S/R, Breakouts, OB/OS, Divergence, Astrology, Tea leaves and many, many others triggers.

Pull the f***ing trigger and go with the flow.

HEY WAIT!!

Before we choose and pull the f***ing trigger.
We need to control our risk, because this is not a get rich quick scheme (at least for us retail traders).

How much $$ we are ready to lose, is the only thing we can control in this MF business.

So choose the amount of money in which you can sleep well at night and even have sweet dreams, even if you lose the money invested in that trade.

The TERRIFYING Stop Loss

Some use real Stop Loss. <------------------------------ Me
Some use mental Stop Loss.
Some hedging the position.


Some don't use it.

And don´t be ....

One thing is sure, forex is not gamble. Trading is technical. I would advise new traders to start with price action; after that should they choose to go with the trend, they could simply start from moving averages.

One example:

We had a strong movement down, and a retracement, and now ... a possibility to find a way to pull the f***ing trigger (if we have one).

We can win the position or we can lose we dont know, thats why we use SL but we have a possibility of a good R:R if the trade goes in our direction.
And in that case, we set the risk value and the SL, and prepare the trade. (again, only if you think you have a trigger to pull)

Good luck.

Assuming we entered this trade because we had a f***ing trigger.

The small SL it will be hit more often but compensates when the TP is reached because of the bigger reward.
The big SL it will be hit less often and when reach the TP compensates also but the reward is much lower.

In this two cases we have a 1: 7 and a 1 :2 R:R
Assuming we have set our risk to 1% ... in case 1:7 we are out of the trade with -1% and in case 1:2 we are still in the trade.

Let's wait and see what will happen to the trader, with the bigger SL.

Well both traders in my example are out with 1% loss each one for the day, nothing that makes them lose their sleep.
On the other hand, traders who did not used SL or have used the mental SL are now in trouble, stressed or in margin call (look at that beautiful green candle) ... I love SL (my best friend).

Now the process repeats, waiting for a retracement this time thinking in a uptrend, then try to find the trigger and waiting our TP to be hit instead of our SL of course

Yes, its not sexy ... is f***ing boring.

Do continue

https://m.youtube.com/watch?v=qCuaPUVFbzg

Is to repeat the process ... some trend examples.

more trends

a few more