Money Flow Trading Method along with Risk Management

Thanks

I will check and log on when I wake up !!!


Benjaminis

The Wrap Up - Nightly

Thanks for the cooperation from all of you here that have participated. I now have 7 open FXCM UK demo accounts and 6 active Forex traders who are ready to rock and roll.

There is space for 2 more Forex traders so just read the pages between 20 and page 25 for instructions while I get some rest to be fresh for another great day.


Benjaminis

wayfarer

I logged on to your FXCM UK demo account and put the 18 currency pairs on your platform. I also moved them around and they are in the proper order. Have a look. You are ready now to do your first position in our First Trade Plan which is SHORT 3 Positions of 100 Units of US30 (Dow 30)

Only put on your first position and enter your STOP LOSS and your LIMIT OUT.

Any questions post them here. Now I will go to bed knowing my work is done. Whatever you start you should finish. Do not leave loose ends and have the desire and DISCIPLINE to do your job. That is how I approach my Forex trading and teaching business. Since I enjoy it then I do not even see it as work. I never have seen 16 hours go by so fast having fun and enjoying my life and sharing.


Benjaminis

It appears I have a stalker.

Hi
Hope everyone is doing well.

I have entered my first position on DOW 30

OPEN/FLOATING POSITIONS
Ticket # Symbol Volume Date Sold Bought Floating P/L Comm Dividends Rollover Net P/L Condition Created By
115237252 US30 100 12/27/16 12:14 AM 19,923.00 0.000. 000.00 0.000.00 Mktd102742634001
12/27/16 3:29 AM 19,923.00
Total:0.000.000.000.000.00
Posted at statement period of time:0.000.000.00
ACCOUNT ACTIVITY
Time PostedCodeDescriptionAccount #Ticket #AmountBalance
No data found for the statement period
ACCOUNT SUMMARY
Beginning Balance50,000.00
CommTrading Commission0.00
RolloverRollover Fee0.00
PnLProfit/Loss of Trade0.00
DeposDeposit0.00
WithdWithdrawal0.00
OptionOptions Payout0.00
CommOptions Commission0.00
AdminFeeAdministrative Fee0.00
MngFeeManagement Fee0.00
PerfFeePerformance Fee0.00
VoidDeposit Rollback0.00
ASPCommASP Commission0.00
MargInterestInterest on Usable Margin0.00
SubscriptionFeeSubscription Fee0.00
RRebRollover Rebate0.00
Div_AdjDividend adjastment0.00
Ending Balance50,000.00
Floating P/L0.00
Equity50,000.00
Necessary Margin1,050.00
Usable Margin48,950.00
Notes:
"THIS IS A DEMO ACCOUNT WHICH IS TRADED WITH VIRTUAL FUNDS. NO REAL MONEY IS USED IN TRADING THIS ACCOUNT. Demo accounts are used primarily for education purposes, testing of strategies, and familiarizing traders with market movement and the FX Trading Station. There are inherent risks associated with online trading that may arise due to downtime, currency fluctuation and other risks associated with currency speculation. Only risk capital should be used when trading a real account."

Benjamin

Thank you for all the info and help so far.

I just wanted to confirm the following:

In one of your post you said, you add the second position if you are - 50 pips.
So that order, do you place as a pending order, with same criteria, 100 pips stop and 300 pips profit?
The last position, do you only place that, once the price has moved into our direction, so say position 1 & 2 is in profit?

When position 1 is in profit, do you ever move your stop losses to breakeven or do you use the principle set and forget?
So it either hit your stop loss or profit, or do you still manage your trade, say every hour you look at the chart or every 4 hours to see what the markets are doing?

I am more of an technical trader than a fundamental trader, but agree, you need both. I am here to learn more about fundamentals.

Without information overload and becoming overwhelmed with the info on your thread, what do you suggest we read first, just your daily morning thoughts and evening wrap up posts to start off with? Or do you suggest to read/study something more applicable to the DOW 30 as our 1st trade plan is with the DOW 30.
For example what news/events influence the DOW 30 and with which pairs it correlate.

Thank you & green pips to all

Remember this rule.
Unless you are very confident in the trend you found, and think you entered too early, you can add another position. Otherwise see rule highlighted above.
I myself am guilty of adding to losing positions sometimes too but this is a fool's game and we shouldn't make a habit out of it.

Best regards!

(live account up 17% since I started paying attention to Benjamin's fundamental insights)

Good Morning TooSlow

Your presence is always appreciated here. Have a good trading day. Later.

Benjaminis

Good Morning wayfarer

When I just woke up this morning I checked your account and I saw that you shorted (ONE) unit of US30.

For everyone here since this has happened before when you enter a Forex trade you have a choice of 1 unit to 100 units and since we learn with $50,000 US Dollars you always trade in units of 100 or each contract is $100,000 US. What I did for you since we are also learning to use the platform at the same time that we learn other things , I entered a trade for you of 100 units of Short US30 and I entered the STOP LOSS for you at $1000 US. Please have a look and post here to confirm that you understand.

There are NO mistakes made here by anyone except me as all of you are learning something completely new that will lead to your success in most cases trading Forex.

I look forward to hearing from you.


Benjaminis

Hello KeepCalmfx

Your questions are appreciated as they allow me to understand what you are thinking and what areas I need to clarify for you and others here. Rome was not build in a day so we are at the start of a learning process. I even learn as I teach.

First of all and most important since things can change within seconds in trading Forex and since we use leverage of 100 to 1 the last thing we want to do is to tie our hands with a rigid system of trading. We never enter an order unless we do it at the moment. Now to clear up the confusion that I caused about mentioning about the 50 Pips.

Each trade done is done within a Trade Plan. Each Trade Plan should only permit a loss of your trading capital of 6%. Let me make that clear for everyone. One of my five important parts is Risk Management. Without using a VERY STRONG Risk Management STRATEGY you will eventually BLOW UP your account and this applies to Professional traders as well as Retail traders or others just starting.

Here is what makes up the 100% that will allow you to become a professional Forex trader with time and practice and experience.

20% is Risk Management. 20% is fundamentals. 20% is technical indicators which includes Supply and Demand and or Pivot Points anything to do with the technical part of trading whether stocks or commodities or Forex. 20% is my Money Flow Method which does not belong to me it just is what I discovered while I was trading Forex since 2006 and it is what gives US our Edge. As I have explained before understanding Money Flow between the various Asset Classes lets us be part of the SHARKS meaning those that trade Billions and Trillions of dollars or pounds or any of the other Fiat Currencies. Even they suffer major losses at times since they are either pre-programmed or cannot see the Forest for the Trees.

The most IMPORTANT PART since it involves the Forex Trader themselves is "YOU" This is the last 20% however it really is the FIRST 20% as it is about your ability to become a Forex Trader. I can only tell you that after 30 or so days of communications with you and some of you just might not be ready to trade real funds as yet. I took 3 years of learning before I risked one penny of trading funds. That is why I have arrived as a Excellent and very experienced hands on Forex trader.

That is why usually within 30 days I can inform any Forex trader if they show the characteristics of a Winning Trader. So 20% is yourself and what my way of trading does by having each of you and myself since that is how I learned and I am self taught as I did this on my own which was good since I tried things and when they worked then I adopted it to my Forex trading style.

Please post any thoughts or questions as that is the only way that I know that you understand what I am teaching here. Using the $50,000 US Funds Demo Account helps me to help you REMOVE your FEAR and YOUR GREED and teach you the right way to trade without fear of loss.

The Greed part usually goes to the EGO part especially when you are winning. That is WHY I do not want anyone to think this is about Instant Gratification. I can save you years of learning and protect you however that is up to you.

I have NOT answered all of your questions and I will however I first wanted to clear certain matters up having read some of the other posts here this morning. Yes these today are my Morning Thoughts.


Benjaminis

Good Day Forex traders that read my thread and are not able to post or ask questions. I sincerely encourage you to register with Forex Factory so that you can post and ask questions and share your thoughts. Of course that is up to you and I only suggest it to be more effective helping and to make sure what I share is understood. I caution everyone in case you are trading real funds to not just do a Forex trade because someone suggested it without understanding why the trade is done since things can change in seconds trading Forex.

I look forward hopefully to see some NEW posters here on OUR Thread.

Benjaminis

Hello my friend. I have already replied to you in some of my earlier posts this morning and now I will get directly to your comments here this morning.

As you clearly know by your results so far we trade Forex with a Trade Plan. Each Trade Plan is made UP of three positions of 100 units or $100,000 US a contract. Since we scale in three positions the Trade Plan which is clear to start means that you are NOT REALLY adding to losing positions all you are doing is executing your trade Plan. please reply so I am sure that you and others understand this.

We might start a Trade Plan where we only have one position and then close it with a profit if we see there is a reason to do this. Just like you did before the holidays. WE control whatever happens by using our Common Sense. I know that you understand this since you did it already.

I appreciate you taking initiative to add to the value of this thread that belongs to ALL of us. This is a Team Effort and that is why we build together towards success. I look forward to your thoughts on my reply to you this morning.


Benjaminis

Now before I break for my breakfast and to catch up to other matters I want to make it very CLEAR that even though we have rules and certain ways of doing things in order to develop winning habits there can NEVER be a LOSS taking profits.

Now on to one of the MAIN Questions that we need to each ask ourselves each trading day and of course it can change at anytime because of NEW INFORMATION known to the markets.

I mentioned and posted a link yesterday concerning the serious banking matter in Italy. This is STILL NOT RESOLVED and if it is not within the next few days then you can be SURE we will have RISK ON !!!

That will change the DIRECTION of the Money Flow and is one of our MOST FUNDAMENTAL FACTS IN REAL TIME. Then all the EA systems start to fail because they cannot possibly factor all these things in as I do.

Now after about one hour plus on to my daily routines. Please communicate here all your thoughts and questions that might arise during the Forex trading day or at anytime.


Benjaminis

Hi,

Yes I understood. Basically we don't have to apply FIFO and those 3 trades from the tradeplan can be on the same currency pair.

Shorted UJ at 117.380. It's at it's high from past 2 trading days. Sticking to the Trade Plan.

Benjamin, what do you think about AUD/USD? If DOW price drops, is it correlated to A/U price rising? From a technical point of view, A/U looks to be at a good BUY position.

Беннджамен, while mastered a platform, accidentally closed warrants. Then opened again, because you opened . While technical moments идут with a platform. Nevertheless with МТ4 it is difficult to pass to other platform. But studying very interesting. Gold will we buy where that on 1100? Bankers prepare to the large purchases in the предверии falling of dollar.

I'm about to blow up my demo account, unfortunately I'm unfamiliar with trade station, I'm confused with lot size. Instead of 1 I sell 100 and 3 position
I attached the MT4 it right now in FIBO 38 should be sweet spot DJ30

Good Question and here is why I recommend against it.

From my actual experience starting during 2006 , I always learned one currency at a time so my first year of trading was either EUR/USD long or short. Then when I saw the correlation between EUR/USD and EUR/JPY and USD/JPY , I became expert trading the three of them. What I am saying is that each currency pair has unique character traits and yes I could find reasons to trade AUD/USD it would mean that we need to understand it well and EUR/USD and USD/JPY moves quicker and has more correlation. This does not mean that you cannot trade it. I cannot give you much information on it other then it does relate to the price of Gold and you should see what the Central Bank of Australia are doing as to raising or cutting interest rates. I hope that I have answered your excellent question.

Another way to put it is that we cannot dance at two many weddings so WE need to FOCUS on what we know best.


Benjaminis

First thing my friend , Relax. Take a deep breath. You cannot blow up your demo account or any account if you follow the Risk Management Strategy. The most that you can lose with anyone of our FOUR Trade Plans is 6% of your capital. For the moment WE only trade US30 Short maximum 3 Positions and USD//JPY Short maximum 3 Positions of 100 units. I willl log on to your platform and look at it. Patience is a VIRTUE !!!


Benjaminis

Please just focus on FXCM UK Platform and Gold for now is not tradeable until 2017. We only trade US30 Short now and USD/JPY Short now within our rules.

I will look at your platform. Relax !!! Enjoy your day. All will be well !!!


Benjaminis