Money Flow Trading Method along with Risk Management

Thanks for the reply Benjamin, made me reconsider many things.

USD/JPY jumped up right after I placed my sell order. Currently in drawdown on both demo and live accounts

Thank you!

HEADS UP FELLOW TRADERS !!!

I am going to speak to ALL 7 of my fellow Forex traders and students.

I am going to post here in full the up to date report on the account run by Rocky007 so WE can all learn and improve.

Nothing that I say here is meant to be personal however if I do not explain and cannot be 100% to speak the TRUTH then I cannot teach you properly.

First of all let us all study the FXCM UK Demo Account of Rocky007 , as follows;

Combined Account Statement
Statement Period:from Dec 23, 2016 7:15:25 PM through Dec 27, 2016 3:27:39 PM
User Name:50k Test Account
FXCMUK_SPREAD_BETTING

50k Test Account
United Kingdom
Trade account #: 00556567Created at: Dec 23, 2016 7:15:25 PMStatus: ActiveMargin Call (as at end of statement period): NBase currency: GBP
CLOSED TRADE LIST
Ticket #SymbolVolumeDateSoldBoughtGross P/LCommDividendsRolloverAdjNet P/LConditionCreated By
88024603AUD/USD1,00012/23/16 8:26 PM 0.71724 Mktd25557124001
12/23/16 8:41 PM0.71743 0.150.000.000.000.000.15Cd25557124001
88032270US301,22812/27/16 1:21 AM19,921.00 Mktd25557124001
12/27/16 3:22 AM 19,931.00-1,001.060.000.000.000.00-1,001.06Sd25557124001
88035031US301,22512/27/16 2:31 PM19,944.00 SEd25557124001
12/27/16 3:27 PM 19,967.50-2,348.640.000.000.000.00-2,348.64Mktd25557124001
88035081US301,22512/27/16 2:35 PM19,952.00 SEd25557124001
12/27/16 3:27 PM 19,967.50-1,549.100.000.000.000.00-1,549.10Mktd25557124001
88035155US301,22612/27/16 2:41 PM19,965.00 SEd25557124001
12/27/16 3:27 PM 19,967.50-250.060.000.000.000.00-250.06Cd25557124001
Total:-5,148.710.000.000.000.00-5,148.71
Posted at statement period of time:-5,148.710.000.000.000.00
OUTSTANDING ORDERS
Order #Expire DateTypeTicketSymbolVolumeDateB/SPricePeg OffsetMarket PriceCreated By
No data found for the statement period
OPEN/FLOATING POSITIONS
Ticket #SymbolVolumeDateSoldBoughtFloating P/LCommDividendsRolloverNet P/LConditionCreated By
No data found for the statement period
ACCOUNT ACTIVITY
Time PostedCodeDescriptionAccount #Ticket #AmountBalance
12/23/16 7:15 PMDeposDeposit00556567 50,000.0050,000.00
12/23/16 8:41 PMPnLProfit/Loss of Trade00556567880246030.1550,000.15
12/27/16 3:22 AMPnLProfit/Loss of Trade0055656788032270-1,001.0648,999.09
12/27/16 3:27 PMPnLProfit/Loss of Trade0055656788035155-250.0648,749.03
12/27/16 3:27 PMPnLProfit/Loss of Trade0055656788035031-2,348.6446,400.39
12/27/16 3:27 PMPnLProfit/Loss of Trade0055656788035081-1,549.1044,851.29
Total:44,851.29
ACCOUNT SUMMARY
Beginning Balance0.00
CommTrading Commission0.00
RolloverRollover Fee0.00
PnLProfit/Loss of Trade-5,148.71
DeposDeposit50,000.00
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 Balance44,851.29
Floating P/L0.00
Equity44,851.29
Necessary Margin0.00
Usable Margin44,851.29
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."

Here is the Strategy for EVERYONE with NO exceptions. As you can see from the statement of the Forex trades that Rockey007 did all his trades were done at the same TIME and that is NOT Scaling in your shorts or longs. So everyone that has One Position open now has what is called a Drawdown. If it the US30 goes over 20,000 and it might just do that then you take your $1000 US dollars LOSS and it is NO MORE than 2% of your trading account. So What !!!

Then you still THEN can reenter and start your NEW Trade Plan and short one position only and again PUT your Stop LOSS in and your Limit out. The thought is that someone will eventually send it OVER 20,000 and after that most likely watch out Below. A drop of 1000 points on the Dow can result in a profit of over $9000 US Dollars.

Rockey007 with ALL respect to him is too anxious to just trade and not learn. This is about many things. The charts produced are GREAT and I encourage others to post charts as well as doing that is not my strength. I can use them however , I have NO PATIENCE to understand how to post them and I do not need to do it as others can since most Forex traders are technical traders.

I will look for feedback now from all of you and as for my friend Rockey007 , please go back into your Platform and just enter one SHORT Trade of US30 selling 100 units and this time DO NOT LEAVE until you ENTER your STOP LOSS of $1000 US Dollars. Then PLEASE PUT YOUR LIMIT OUT at PROFIT if and when closed at $5000 US Dollars then take a break and do nothing. You can say as a joke of course that you are in the penalty box for a few days. Next Week when the markets are back to normal all you need to do is wait until your LIMIT OUT is hit and your FXCM UK Demo Account will be OVER $50,000 US again.

Any comments or questions from anyone please post them here.

What happened is GOOD because that is why we use Demo accounts to train and learn on. There is no quick formula to success just as there is NO HOLY GRAIL. You are the KEY to success !!!


Benjaminis

Shorted UJ at 117.60. Benjaminis , look please, everything I do right ?

I am now going to post again my Morning Thoughts of Today so please read it carefully and KNOW that I am here for ALL of us so keep up the good work and we will all get to where we want to go. Also my friend GoSlow will not be able to call me a bad teacher. (That is my sense of humor and I do RESPECT GoSlow)

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

Thank You wayfarer for your question. I will look at it now and post my answer shortly.


Benjaminis

That's wonderful short position, I shorted again at 117.52. I was waiting for ADX trend strength and CCI oversold. What made you sell at 117.60?

HEADS UP Rockey007 and EVERYONE ELSE HERE !!!

I did the TRADE for Rockey007 so PLEASE everyone here READ THE REPORT CAREFULLY and UNDERSTAND ME WELL !!!

There is NO RUSH HERE. Relax as if not you cannot learn and I would be VERY VERY CAREFUL if any of you are trading Real Funds. This is NOT A GOOD TIME TO TRADE in these kind of markets and before YEAR END in just 4 days !!!

Here is the Report just generated.

OUTSTANDING ORDERS


Order #Expire DateTypeTicketSymbolVolumeDateB/SPricePeg OffsetMarket PriceCreated By
141324987 S88035602US3010012/27/16 4:28 PMB20,075.00 19,956.00d25557124001


141324992 L88035602US3010012/27/16 4:29 PMB19,340.50 19,956.00d25557124001


OPEN/FLOATING POSITIONS

Ticket #SymbolVolumeDateSoldBoughtFloating P/LCommDividendsRolloverNet P/LConditionCreated By


88035602US3010012/27/16 4:28 PM19,952.50 -28.570.000.000.00-28.57Mktd25557124001
12/27/16 4:29 PM 19,956.00


Total:-28.570.000.000.00-28.57

Posted at statement period of time:0.000.000.00


ACCOUNT ACTIVITY

Time PostedCodeDescriptionAccount #Ticket #AmountBalance
12/23/16 7:15 PMDeposDeposit00556567 50,000.0050,000.00
12/23/16 8:41 PMPnLProfit/Loss of Trade00556567880246030.1550,000.15
12/27/16 3:22 AMPnLProfit/Loss of Trade0055656788032270-1,001.0648,999.09
12/27/16 3:27 PMPnLProfit/Loss of Trade0055656788035155-250.0648,749.03
12/27/16 3:27 PMPnLProfit/Loss of Trade0055656788035031-2,348.6446,400.39
12/27/16 3:27 PMPnLProfit/Loss of Trade0055656788035081-1,549.1044,851.29
Total:44,851.29
ACCOUNT SUMMARY


Beginning Balance0.00
CommTrading Commission0.00
RolloverRollover Fee0.00
PnLProfit/Loss of Trade-5,148.71


DeposDeposit50,000.00
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 Balance44,851.29



Floating P/L-28.57
Equity44,822.72
Necessary Margin 850.00
Usable Margin43,972.72


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."

Comments from Benjaminis: Now we will HAVE a Written TEST !!!

Please reply and tell me what you see on the Report that I just generated. YOU ALL NEED TO LEARN !!! If I do it for you then I am not helping you.

I am a very nice man however I cannot except FAILURE so I need to make sure that We all understand that I can only guide all of you. You need to LEARN.

At least have PATIENCE for 30 days of Forex Demo Trading. Thank You !!!


Benjaminis

He placed right volume (100units) but didn't place a stoploss.(I guess)
his first trade: +30.155
second:-1,001.064
third:-250.064
forth:-2,348.644
fifth:-1,549.104
And a floating -28.57

Excellent wayfarer

Here is what you have done as you know of course because YOU DID IT !!!

Bravo

115250976US3010012/27/16 8:30 AM19,932.00 -195.000.000.000.00-195.00Mktd102743041001
12/27/16 11:48 AM 19,951.50

115256691USD/JPY1,00012/27/16 10:56 AM117.607 0.66-0.040.000.000.62Mktd102743041001
12/27/16 11:48 AM 117.530

115257196USD/JPY100,00012/27/16 11:04 AM117.596 56.16-4.000.000.0052.16Mktd102743041001
12/27/16 11:48 AM 117.530

Total:-138.18-4.040.000.00-142.22

Posted at statement period of time:-4.040.000.00

Comments from Benjaminis: Now you have nothing more to do today concerning your OPEN TRADES and STOP LOSS and LIMIT OUT outstanding orders.

Go for a walk. Smell the roses. NOT IN CANADA :-)

Bottom Line once in awhile you need to step back and relax. There is more to life than trading Forex.

Some days I have made $5000 or more in Real Profits. I was taught by a friend that has since died of cancer a few years ago and he was an excellent Commodity Trader. He taught me that when you are on a LOW or more IMPORTANT on a HIGH after winning then STOP TRADING for the rest of the day so that either your FEAR or your GREED AND EGO TAKE OVER. That is great advice that I use every day.


Benjaminis

From my edit to my reply to wayfarer !!!

For ALL of US Forex Traders...

Comments from Benjaminis: Now you have nothing more to do today concerning your OPEN TRADES and STOP LOSS and LIMIT OUT outstanding orders.

Go for a walk. Smell the roses. NOT IN CANADA :-)

Bottom Line once in awhile you need to step back and relax. There is more to life than trading Forex.

Some days I have made $5000 or more in Real Profits. I was taught by a friend that has since died of cancer a few years ago and he was an excellent Commodity Trader.

He taught me that when you are on a LOW or more IMPORTANT, on a HIGH after winning then STOP TRADING for the rest of the day so that either your FEAR or your GREED AND EGO TAKE OVER. That is great advice that I use every day.


Benjaminis

Exactly dttsomh

He over traded and now he has a loss in his account. He now has just ONE Position open on his US30 and either takes a LOSS of just under $1000 US dollars or a PROFIT of just under $5000 US dollars. That is all that is needed.

PATIENCE !!! UNDERSTANDING !!! SKILLS DEVELOPED !!!

You are doing good as you understand what is needed as you are a quick learner. There is nothing wrong with what Rockey007 did as that is how we learn.

Now it must be CLEAR to all of you why I work through FXCM UK demo accounts so that WE ALL LEARN THE SAME WAY !!!

For me it is do what I do as I have DONE IT MYSELF and it works. When I tell someone to do something it is because I know and have done it myself. We have ALL made great progress in not too long a time frame so all the hours that I have spend is well worth the time and effort for me and I will use most of this format on my NEW Website being developed to start up during early 2017.


Benjaminis

Thank you, I'm taking babysteps and I still have a lot to learn from people like you.
I constantly try and seek errors that I make, and one that pops in my head now is that I haven't built the discipline yet to not trade in RISK ON days/weeks.

Thank you for your explanation. However, I had a little hard time to understand the trading platform. I add the RSI and the draw some few key area S/R.
What happen earlier this morning that was not my intention. Honestly I was bit focusing my real account. Anyways we learn from the mistake.

Don't worry brother, I see you use PVSAR template and also Davit's pivot template which I both use and like and I'm sure we will both reach financial freedom by learning toghether!

Going to be offline for a few hours so please post and I will reply after 3 PM EST.

Thanks everyone.


Benjaminis

check my PM please thanks, enjoy your time! all the best

[Цитата = dttsomh; 9383545] {цитата} Это замечательно короткая позиция, я снова замкнуты на 117.52. Я ждал силы ADX тренда и ТПП перепроданности. Что заставило вас продать на 117.60? [/ Цитата]
МАСД divergence on H4 - D1, level on RSI, level of resistance.

http://wolfstreet.com/2016/12/27/cos...anking-crisis/

Snippet:
Monte dei Paschi di Siena sinks deeper into the mire.
Over the Christmas holidays, when no one was supposed to pay attention, and when the markets were closed, the bailout costs of Monte dei Paschi di Siena, the third largest bank in Italy, and the center of the Italian banking crisis, suddenly jumped by 75% to €8.8 billion ($9.2 billion)!


Just how immense the black hole inside of a bank really is remains unknown until the bank collapses entirely and the pieces are sorted out. No one wants to know, especially not bank regulators. But when banks are teetering, and a bank bailout, or rather a bondholder bailout is being discussed, the aspects of that hole begin to emerge, and the hole keeps getting bigger the longer someone looks at it.


Earlier this year, the ECB’s stress tests of 51 large European banks determined that Monte dei Paschi was the shakiest among them. The ECB gave the bank until the end of 2016 to raise enough capital or contemplate the prospect of being wound down.

Last week, after Monte dei Paschi failed to work out a private-sector rescue deal led by JP Morgan, a taxpayer bailout was moved to the front burner. The bank’s shares and bonds were suspended from trading until the details of the bailout would emerge. This came after two prior capital increases from the private sector in recent years had failed to fill the holes. Each time, gullible investors had gotten crushed.

On Friday, the Italian government decided to shanghai its taxpayers into bailing out the bank’s bondholders with only a small haircut for holders of certain junior bonds. The decree it approved to that effect was based on the assumption that a €5-billion bailout – a “precautionary recapitalization” – would be needed.
A “precautionary recapitalization” is EU lingo for a taxpayer bailout of a bank that is “illiquid” but is still deemed “solvent.” If a bank is no longer “solvent,” it needs to be wound down, under the new EU regulations banning state aid. This would entail much bigger losses for bondholders and possibly some losses for uninsured depositors.


However, a “precautionary recapitalization” would only require that certain junior bondholders take a small first loss before a big capital contribution by the state would bail out the rest, on terms that need to be endorsed by EU state-aid officials in Brussels.
But the tab keeps ballooning.