1% Daily | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

dx and ex daily and EU daily 3 replies

Daily Highs and Lows to Previous Daily Highs and Lows 1 reply

GBP/USD daily pip movement vs. EUR/USD daily pip movement 3 replies

Attachments: 1% Daily
Exit Attachments

1% Daily

  • #1
  • First Post: Edited Sep 24, 2021 4:29am Mar 6, 2017 6:31am | Edited Sep 24, 2021 4:29am
EDIT: PLEASE DONT FOLLOW THE TIPS IN THIS THREAT! IF SOMEONE NEEDS HELP IN FOREX, PM ME


Hi friends,

I trade forex since 9 years now. I searched for the Holy g. a long long time. I tried everything what you can find in internet. I traded indicator based, pure price action, wave theory, divergences, supply demand, news trading, volume trading, scalping and so on.... I was in nearly every trading group you can imaging. And you know what? I found out that 99,99 percent of all the stuff you can learn is scam. 99,99 percent of all the grate mentors their are scammers. They only want your money because they can't manage to trade profitable. I never found something what was really profitable over long term. If you think, that your are in a trading group which is honest, ask your self: did you ever see a live statement from positive results from your mentor? Everybody can make excel sheets and pdfs and grate presentations and so on... But no one ever showed live, that he can trade. All the trading journals here I forex factory show this. There are some journals which begin unbelievable grate, than they lose money, than they set back there accounts and begin again from 0.

So what now? I done following: I I deleted all indicators. I set in front of my pc and spend a long time (days over days) with screening and look how price reacts. I tried to forget everything I have learned and I tried to be open minded with no restrictions in thinking. That helped me to understand the market.

I don't say that I can trade. I don't say that I will double my account each month. I don't say I found the h. G. But I can say that I think that I found the right strategy for me. I think I understand the market now. I think that I know why the banks wants the price to go in one direction.

I opened this threat to challenge me. To prove myself and my strategy. Attached you find my trading journal which is linked to a small live account. Its a honest and transparent try and nothing more. I claim and promising here nothing.

Please understand that I have not so much time, so I can't spend here hours to explain what I do. But if you interested, I can post some principals I my trading and what I believe what moves the market.

Hopefully if everything goes well I can provide here a profitable live statement. This helps you maybe not to give up...

Why 1% Daily? Because this is my target. I need only 1% to live from trading. Compound interest does the rest.

I trade EURUSD in 1 min time frame.

If I have time I post some trade examples and screen shots.

Enjoy
  • #2
  • Mar 6, 2017 7:09am Mar 6, 2017 7:09am
My first principal: stay as short in market as possible.
Sometimes you hear that you should trade longer time frames, because news don't affect them. That's BS! The longer you stay in the market the bigger is the possibility that news and political issues affect your trade. It's absolutely nut logical that news don't affect bigger time frames. The broker and banks want of course that you stay as long as possible I trades, because they want your money and take your stop losses. In last time you saw at brexit or Swiss politics how unstable the market is. So: collect a few pips and run. Trade small time frames. When you trade small time frames, you can avoid news and reach fast your profit.
  • #3
  • Mar 6, 2017 7:59am Mar 6, 2017 7:59am
My second principal: never, never, never ever use a stop loss

I know, every body tells you, that you never should trade without a stop loss. That's in my point of view the reason number one, why the most traders lose money. Believe me or not, but the banks knows where your stops are. And they hunting them. Every morning after Frankfurt open you can see following: the price brakes last high and lows, before it goes I one directing.

Instead of a stop loss you could use for sells a buy stop and for a buy a sell stop order.

Instead of using stop loss, think about where the majority places their stop losses and use this levels for entry. This are the points where banks place their trades.
  • #4
  • Mar 6, 2017 9:47am Mar 6, 2017 9:47am
I can agree 100%

I tested a lot indicators, groups and signal services. No success.

And then I started a few months ago a crazy experiment. I took 5 pairs on the H4 chart and I took a dice. If the dice gave me a 1,3 or 5 I put a pending buy order above last resistance. If me the dice gave me 2,4,6 I put a pending sell order below last support. For every pending order I set no SL, but a special price action trailer. Every trade with lotsize 0.10.

At the end of each month I close all trades which are negative and not made it.

The result: every month ended so far positive. In February I made with this random system 477 Euro. It's crazy but it is the best system I had so far.

My explanation why it works: 1) Because it has no SL, 2) Because it is not based on a prediction what can happen, 3) because of smart trailing

But this means also: Trading seems to be most time gambling
  • #5
  • Mar 6, 2017 2:13pm Mar 6, 2017 2:13pm
Quoting rolandbeck
I can agree 100% I tested a lot indicators, groups and signal services. No success. And then I started a few months ago a crazy experiment. I took 5 pairs on the H4 chart and I took a dice. If the dice gave me a 1,3 or 5 I put a pending buy order above last resistance. If me the dice gave me 2,4,6 I put a pending sell order below last support. For every pending order I set no SL, but a special price action trailer. Every trade with lotsize 0.10. At the end of each month I close all trades which are negative and not made it. The result: every month...
Hallo Roland,

sehr interessant. Your approach is interesting. In my point of view It shows a important thing:

Stop losses are big problems, because we all learned and we tend that, that we have to place our stop losses above or below the last swing high or low. But what is a stop loss? It is nothing more than a buy or a sell. If you have a active buy order than the stop loss of this order is a sell. And a stop loss of a sell order is a buy. The big players need, if they want to sell a lot of buy orders from other people. No-one can sell anything if no one wants to buy... So often it happens, that the price breaks the last swing high, than the price drops. Today it was exactly the same with EURUSD after Frankfurt open. See here, that was my trade today:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20170306-231456.png Size: 329 KB
  • #6
  • Mar 6, 2017 7:50pm Mar 6, 2017 7:50pm
Quoting kleybenny
Hi friends, I trade forex since 6 years now. I searched for the Holy g. a long long time. I tried everything what you can find in internet. I traded indicator based, pure price action, wave theory, divergences, supply demand, news trading, volume trading, scalping and so on.... I was in nearly every trading group you can imaging. And you know what? I found out that 99,99 percent of all the stuff you can learn is scam. 99,99 percent of all the grate mentors their are scammers. They only want your money because they can't manage to trade profitable....

I opened this threat to challenge me. To prove myself and my strategy. Attached you find my trading journal which is linked to a small live account. Its a honest and transparent try and nothing more. I claim and promising here nothing.

Trading is boring and calm episode. Never challenge or get over excited,it will harm you. Most of strategy works but which one suits best that needs to be find out. Most of profitable trading strategy never disclosed anywhere.

Please understand that I have not so much time, so I can't spend here hours to explain what I do. But if you interested, I can post some principals I my trading and what I believe what moves the market.

Trading is extremely time consuming in initial 5 years. I mean to understand the market and entire learning,practical implementation with thought process. Later on its just 1 click observation of charts and placing trade.


I think that I found the right strategy for me. I think I understand the market now. I think that I know why the banks wants the price to go in one direction.

Fantastic. Finally you found that. Don't disclose it. Be happy ..don't let others to make money at your expenses. Not all mentors are SCAM. I rather call them Teacher than Mentors. I personally learned from Steve Nison but not necessarily being an student of Steve mean you'll achieve profiting in trading. It's an institution ..you need to be good student.

Have a bright forex success to you. Happy Trading always.
Never Gamble Forex
  • #7
  • Mar 7, 2017 12:10am Mar 7, 2017 12:10am
My opinion is that most people focus too much (or just) on how to find good entry positions. That is the easiest part of trading. But longer-term profit is made with good exiting positions and most importantly good money management. For that you need well defined strategy and discipline.
The discipline is crucial, without that you are lost. That is why i will never ever trade manually again. If you have well defined strategy it should be possible to make an EA for that strategy. That way you can avoid discipline mistakes (great trading for few months, then one bad discipline day and it's all gone - sounds familiar?).
Good EA should work without pending sl and tp levels.
  • #8
  • Mar 7, 2017 12:39am Mar 7, 2017 12:39am
Quoting yesyoucan
{quote} I opened this threat to challenge me. To prove myself and my strategy. Attached you find my trading journal which is linked to a small live account. Its a honest and transparent try and nothing more. I claim and promising here nothing. Trading is boring and calm episode. Never challenge or get over excited,it will harm you. Most of strategy works but which one suits best that needs to be find out. Most of profitable trading strategy never disclosed anywhere. Please understand that I have not so much time, so I can't spend here hours to explain...
Hi Yesyoucan,

Thank you for your opinion. It's great to see here in forex factory some one who has good trading results and knows from what he talks

You are right, there is no need to challenge myself. And I'm also not in rush. I only want to document a bit what I'm doing and I think this could help me further.

I'm glad that you found your way. Steve Nelson is a well known master in trading. He wrote a lot of good books. I rat 2 bikes from him.

I never will stop learning, so maybe I will learn and read a bit more about his stuff.

Thank you for your grate kind words

Enjoy trading
  • #9
  • Mar 7, 2017 12:48am Mar 7, 2017 12:48am
Quoting PiranoTrader
My opinion is that most people focus too much (or just) on how to find good entry positions. That is the easiest part of trading. But longer-term profit is made with good exiting positions and most importantly good money management. For that you need well defined strategy and discipline. The discipline is crucial, without that you are lost. That is why i will never ever trade manually again. If you have well defined strategy it should be possible to make an EA for that strategy. That way you can avoid discipline mistakes (great trading for few months,...
Hi Pirano trader,

Thanks for reply. Yes one of the most important things is to know when to exit a trade. But when you see at the charts the levels where most likely the banks wants to have the price to go, it's not as difficult as many think. Also good risk management is essentially. This was the first lesson I learned in my trading. But in my opinion it is one of the easiest thinks. You need only a business plan and never, never, never good outside this plan.

I personally don't like robots. If it would be possible for robots to make money (and I speak not from high speed trading) than there would exist some which you could find in internet. A robot can't think. It can't see important levels. It's important to see in chart where people could lose money, where there are emotions in chart. A robot can't do this. Also I would never rely my hard earned money a machine. In responsible for every trade I take.
  • #10
  • Mar 7, 2017 2:17am Mar 7, 2017 2:17am
Quoting kleybenny
{quote} Hi Pirano trader, Thanks for reply. Yes one of the most important things is to know when to exit a trade. But when you see at the charts the levels where most likely the banks wants to have the price to go, it's not as difficult as many think. Also good risk management is essentially. This was the first lesson I learned in my trading. But in my opinion it is one of the easiest thinks. You need only a business plan and never, never, never good outside this plan. I personally don't like robots. If it would be possible for robots to make money...
Yes, high speed trading is excluded. I agree with you that robots can't think. The difference is that i think that is a good thing, not bad. Who says that you have to see important levels to be sucessful? Me personally couldn't care less about levels.
Robots are just executors of your strategy and help you remove emotions out of the way. For example: if i have a good risk/money management, why would i not want to automate it? The same with entry, exit rules, ... why not? It's still my strategy, robot just takes care of discipline. I see no added value in human intervention.
Maybe the biggest problem I have with manual trading is that backtesting is impossible, at least some quality backtesting on multiple pairs for 10yrs history (HQ history with real tick data, not the one in mt4).
So, if you make your own robot, based on your own strategy and rules - it's still you trading, still you are responsible for every trade...
  • #11
  • Mar 7, 2017 4:19am Mar 7, 2017 4:19am
I see you have EURUSD in hedge and that's not a good idea.

Let me explain in simple words:

if you buy EURO and sell USD, then sell EURO and buy USD, how many EURO and how many USD do you have ? isn't it the same as closing the position ?
  • #12
  • Mar 7, 2017 4:23am Mar 7, 2017 4:23am
Quoting HeyYou
I see you have EURUSD in hedge and that's not a good idea. Let me explain in simple words: if you buy EURO and sell USD, then sell EURO and buy USD, how many EURO and how many USD do you have ? isn't it the same as closing the position ?
Hey, good question. But no it is not the same, because I close some of the positive trades at poibts where price will most likely return. If price does not return it means that the banks want to go more in other direction, than I hedge again. But this goes not very long. After time the price will come back, the banks taking profits, and I can close the rest of my positions and made a good profit for the day. You will see.
  • #13
  • Mar 8, 2017 7:39am Mar 8, 2017 7:39am
Kleybenny, you started to perceive what makes the markets move,this is the first step.
Use stop loss.
  • #14
  • May 26, 2017 6:23am May 26, 2017 6:23am
Quoting kleybenny
I set in front of my pc and spend a long time (days over days) with screening and look how price reacts. I tried to forget everything I have learned and I tried to be open minded with no restrictions in thinking. That helped me to understand the market. I don't say that I can trade. I don't say that I will double my account each month. I don't say I found the h. G. But I can say that I think that I found the right strategy for me. I think I understand the market now. I think that I know why the banks wants the price to go in one direction....
What a contrary statements, glad it's reflected right in your trade explorer.
  • #15
  • May 26, 2017 6:49am May 26, 2017 6:49am
Quoting IPMan
{quote} What a contrary statements, glad it's reflected right in your trade explorer.
Yes you are right. But I have nothing to hide. I thought I would have the answer and I was very very very confident. But the reality is different. So what I should do? Do the same thing than all the other scamers and delete my trade explorer and begin from zero and show only good explorers? No way! I show what I can and what I cant not. To be honest is the only way to suceed in my humble opinion. Because of that I´m not afraid to show everyone my traiding results. So everybody can really see what happens with my account and not only the "fake".


Sorry.

But I give not up, maybe in some time you will see my trade explorer up. And than you know, that it is real, because I show my whole trade explorer and not only the 20 days which are good
  • #16
  • Last Post: May 26, 2017 12:59pm May 26, 2017 12:59pm
Quoting kleybenny
{quote} Yes you are right. But I have nothing to hide. I thought I would have the answer and I was very very very confident. But the reality is different. So what I should do? Do the same thing than all the other scamers and delete my trade explorer and begin from zero and show only good explorers? No way! I show what I can and what I cant not. To be honest is the only way to suceed in my humble opinion. Because of that Im not afraid to show everyone my traiding results. So everybody can really see what happens with my account and not only the "fake"....
Good honest opinion.

People lose money, nothing shocking.
I'm struggling too to control myself, grow patience, stop trading on bad days (Friday mostly), trade only during the day.....
Step by step we WILL GET THERE!!!
Be patient.
Here's a tip - follow the news - the impact could be 3-4 day long!!!!
Beware of robber banks (RB), bad advisors.
0 traders viewing now