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5 years and still no strategy

  • #1,481
  • May 15, 2017 12:29pm May 15, 2017 12:29pm
Quoting calebfx
{quote} I have read your thread unless you have new content to offer I ain't rereading and seeing as you speak only in proverbs then we should really part ways the forex market is enough proverb for an Einstein brain, don't need more proverbs I need a clear path, even Jesus performed miracles in between his parables.
But... proverbs reveal the path
"The fun is in the hunt. Not the kill."
  • #1,482
  • May 15, 2017 12:38pm May 15, 2017 12:38pm
Quoting venividivici
you need a strategy where your stops are little and easily recoverable anywhere from 2 - 7 pips, how are you supposed to recover from 50-100 pip stop losses? your leverage cant be maxed out, be patient and aim for 2-5% per trade. Try not to predict, just follow price..and dont live in the hope and hold a trade praying it turns. Slow and steady profit wins the race. {image}
Its all relative. A stop of 50 to 100 would have a target any multiples of that in its most simplistic format.
  • #1,483
  • May 15, 2017 1:01pm May 15, 2017 1:01pm
Quoting EcoTrader
{quote} Its all relative. A stop of 50 to 100 would have a target any multiples of that in its most simplistic format.
Or derivative. A SL of 50-100 with a TP of 20 could still be profitable.
"The fun is in the hunt. Not the kill."
  • #1,484
  • May 15, 2017 1:12pm May 15, 2017 1:12pm
So crackheads are you still relying on divination and magic to make your predictions on the EURUSD ?

WTF is wrong with you !
  • #1,485
  • May 15, 2017 2:27pm May 15, 2017 2:27pm
Quoting VEEFX
{quote} this is Completely Rubbish. Only a broker representative or an IB would recommend this to churn commissions from Noobs
Except that I dont work for or recommend any brokers. lol
  • #1,486
  • May 15, 2017 3:20pm May 15, 2017 3:20pm
Quoting VEEFX
{quote} Looks Like I have to post my multi-threaded Risk Management System lol There is a whole lot more but busy at the moment. {image}

Now that is something I would be quite interested in.
  • #1,487
  • May 15, 2017 3:24pm May 15, 2017 3:24pm
How many traders actually do their homework on Fed & ECB monetary policy when trading EurUsd and how many look at the MACD and Stocacastics?
ForexOrderFlow.com Return This Year: 14.1%
  • #1,488
  • May 15, 2017 3:26pm May 15, 2017 3:26pm
Quoting EcoTrader
{quote} 5 percent is fine, it might not be fine if you're a technical trader. 1 percent is just ridiculous and more tuned to a strategy that has a low win rate

I applaud you, well done. you have said something that ranks in the top 10 of noob trader things.but I'm here to help and not whip, say you do 7 smart trades a day and they're all open at once one point. your max risk is 35% where mine would be 7-9%.
taking margin call out the picture.
it will take you 20 losing trades in a row to wipe an account where for me it will take 90-120 bad trades in a row to lose money.
having 20 bad ones in a row is sometimes possible. having 90-120 in a row your just a bad trader and should go away.

do you see the problem, in trading never prepare yourself for profit prepare yourself to lose money and once you decide how much want to lose, you gain
There ain't no such thing as a free lunch
  • #1,489
  • May 15, 2017 3:28pm May 15, 2017 3:28pm
How many are long for 1.10 ? Who is shorting to fill the gap from one month ago? I just placed a trade with a S/L above the 1.10 level aiming for 1.08 gap. Target of 175 pips that's an idea without any indicators or lines. Just based off the often times we see gaps filled and 1.10 seems like a nice strong round # resistance. To me it's a simple plan to take a trade and let it develop vs searching for some indicator system.
  • #1,490
  • May 15, 2017 3:35pm May 15, 2017 3:35pm
Quoting Ryan420
How many traders actually do their homework on Fed & ECB monetary policy when trading EurUsd and how many look at the MACD and Stocacastics?
I like your avatar but.. you're bs**tting

you know Draghi and Yellen aren't billionaires
and who cares about the MACD and stoch indicators.. you obviously don't know anything about them.
  • #1,491
  • May 15, 2017 3:46pm May 15, 2017 3:46pm
Quoting HeyYou
{quote} I like your avatar but.. you're bs**tting you know even Draghi and Yellen aren't billionaires and who cares about teh MACD and stoch indicators.. you obviously don't know anything about them.
I'm BSing about what? Fed Presidents foretold the last Fed hike months in advance, which is why retailers were caught on the wrong side when buying Usd the last Fed hike.

I never said Draghi or Yellen. No shit they aren't rich. Yellens salary is set by congress and Draghis the same. They work a good high-stress job Its illegal for them to trade Forex. Or were you still in high school when Mrs Hildenbrand got caught buying UsdChf before the EurChf peg? Noob.
ForexOrderFlow.com Return This Year: 14.1%
  • #1,492
  • May 15, 2017 3:54pm May 15, 2017 3:54pm
Quoting Ryan420
{quote} I'm BSing about what? Fed Presidents foretold the last Fed hike months in advance, which is why retailers were caught on the wrong side when buying Usd the last Fed hike. I never said Draghi or Yellen. No shit they aren't rich. Yellens salary is set by congress and Draghis the same. They work a good high-stress job Its illegal for them to trade Forex. Or were you still in high school when Mrs Hildenbrand got caught buying UsdChf before the EurChf peg? Noob.
"Its illegal for them to trade Forex" where did you get this information =?

hahhahaha ... and for their sons and daughters ? lol what about their friends ?

NOBODY knows where the EU is going.... PERIOD.
  • #1,493
  • May 15, 2017 4:04pm May 15, 2017 4:04pm
Quoting HeyYou
{quote} "Its illegal for them to trade Forex" where did you get this information =? hahhahaha ... and for their sons and daughters ? lol what about their friends ? NOBODY knows where the EU is going.... PERIOD.
Yes and Yes. It's illegal for them to trade and their immediate family members. Acquaintances can still be investigated if they obtained non-public knowledge. It's called Insider Trading. "hahahaha' pimple faced kid. I can just tell you're a born loser.

You've obviously never opened a real account and answered the questionnaire if you're related to any officials involved in monetary policy decisions.
ForexOrderFlow.com Return This Year: 14.1%
  • #1,494
  • May 15, 2017 4:08pm May 15, 2017 4:08pm
Quoting Ryan420
{quote} Yes and Yes. It's illegal for them to trade and their immediate family members. Acquaintances can still be investigated. "hahahaha' pimple faced kid.
yes yes yes...
  • #1,495
  • Edited 4:27pm May 15, 2017 4:16pm | Edited 4:27pm
Quoting MaxenshteinD
Do you guys mean that you calculate your stop loss simply based on the 5% of your balance ? Or do you mean that you simply skip the trade if your calculated stop loss by techniques not related to the balance will lead you to risk of more than 5%?

2 ways of doing this, I didn't see if you've been answered.

1. you calculate sl by pips use different number of pips per sl and change your lot size
2. have a defined pip sl solid X pip sl and has your account size changes change your lot size.

here ill put a calculator on here for you guys, nothing special but good if you're just getting started , something i built, in some spare time for students, not sure, may have some errors but enjoy

edit FIXED ERROR
Attached File(s)
File Type: xlsx 1 % risk forex calcs1.xlsx   210 KB | 450 downloads
There ain't no such thing as a free lunch
  • #1,496
  • May 15, 2017 4:34pm May 15, 2017 4:34pm
Over the past couple of days I've found myself jousting with several members and got sucked into some nasty exchanges. This isn't the first time. but i fell for it again. There are some very astute traders on these boards, and for example, after dkrock posted a few charts for inspection, I was immediately intrigued, and instead of knocking a system i'm unfamiliar with, I did what any, in my opinion, good trader would do and opened my mind to let in new information. Even though I'm doing ok, I never refuse another opportunity to learn something new and different. I didn't simply dismiss what he shared as voodoo, I checked it out to see perhaps if it fits my style and could somehow improve upon my methods. The point is instead of arguing and beating every member to a pulp when some new idea or method is discussed, open your minds to let new info in. If you have questions, ask them, but do I really want to share with people who speak like they want to stab me with a butcher knife?
By the way, Took a tour of the Bell helicopter plant a few weeks ago, way cool....
  • #1,497
  • May 15, 2017 5:25pm May 15, 2017 5:25pm
Quoting forexer801
{quote} I applaud you, well done. you have said something that ranks in the top 10 of noob trader things.but I'm here to help and not whip, say you do 7 smart trades a day and they're all open at once one point. your max risk is 35% where mine would be 7-9%. taking margin call out the picture. it will take you 20 losing trades in a row to wipe an account where for me it will take 90-120 bad trades in a row to lose money. having 20 bad ones in a row is sometimes possible. having 90-120 in a row your just a bad trader and should go away. do you see...
Maybe you didn't read what i said in the post before but that's typical, assumptions on forums are widespread so you not the first and wont be the last. Firstly, having 7 trades on at a time is the biggest noob mistake there is and probably ranks you in first place. Don't assume that someone who is comfortable taking higher risk than you is on coarse for ruin. You, like many here, probably sit there looking at charts and indicators and deriving what you perceive to be an opportunity that repeats. There is nothing wrong with this of course and plenty of traders like you do the same - hence the massive failure rate. When the market draws a pattern\structure\squiggle\whatever, the events that result in the outcome are unique to that moment in time. Never again will every participant and aspect of the market that culminated in an outcome repeat itself. In lottery you have 7 numbers that equates to roughly 77 million/1 chance of repeating. In the market there are many dozens of data points including human sentiment, what are the chances of the same occurring regularly? The answer is they can't, at least not in our lifetime. What you are seeing is coincidental repetition perceived by the human mind and it has nothing to do with the underlying dynamics of the market.

There are repetitions of patterns in data that is unrelated to trading like volcanic activity, farmers livestock, criminal activity, and the list goes on. You can draw out support\resistance, trend lines, and even shapes like triangles. Sure there exists the phenomenon where enough people looking at the same thing becomes self fulfilling but if that was regularly the case then we would have a 95% failure rate. Such patterns ,or whatever you call it (sugar coating the same thing), have a success rate of 50% at best. Sure you can argue the point that you don't need a high success rate but then we come back to this point, the one you seem to call me out on as a noob mistake. When you have a low win rate you need to reduce your risk to buy time as you are really just scraping the bottom of a barrel of luck. I on the other hand enjoy a far better win rate that isn't based on squiggles and whatever else the human mind can conjure. Therefore, i am able to accommodate far more risk than you and enjoy the rewards it brings. There are 2 things that measure every traders success, win rate and profit factor. What are yours exactly?
  • #1,498
  • May 15, 2017 5:59pm May 15, 2017 5:59pm
Quoting EcoTrader
{quote} Maybe you didn't read what i said in the post before but that's typical, assumptions on forums are widespread so you not the first and wont be the last. Firstly, having 7 trades on at a time is the biggest noob mistake there is and probably ranks you in first place. Don't assume that someone who is comfortable taking higher risk than you is on coarse for ruin. You, like many here, probably sit there looking at charts and indicators and deriving what you perceive to be an opportunity that repeats. There is nothing wrong with this of course...
I agree with your understanding of risk and your explanation. Thank you for sharing your very relevant knowledge. I know you are not a pattern trader but you quite understand something about patterns.One of my favorite plays is pattern trading, why? because of the small draw downs and the high returns it delivers. I have a pattern right 50% with a risk to reward of 1:4 . And I have a day trading strategy with a win rate 33% and risk to return 1:5 plus my cost of day trading is five times higher than my patterns. You do the math, I rather be sitting on my hands most of the time. The essence of trading is not to Find what works most of the times , but to find situation with a limited downside and unlimited upside, and I am not talking here about limiting your downside strictly with a stop loss. You are basically looking for unsustainable situations.
Special one
  • #1,499
  • May 15, 2017 6:10pm May 15, 2017 6:10pm
There are millions pattern in the markets I really do believe so, I have found a couple of them. One last thing is that they are all very hard to find. Good luck.
Special one
  • #1,500
  • May 15, 2017 6:16pm May 15, 2017 6:16pm
Quoting EcoTrader
{quote} Maybe you didn't read what i said in the post before but that's typical, assumptions on forums are widespread so you not the first and wont be the last. Firstly, having 7 trades on at a time is the biggest noob mistake there is and probably ranks you in first place. Don't assume that someone who is comfortable taking higher risk than you is on coarse for ruin. You, like many here, probably sit there looking at charts and indicators and deriving what you perceive to be an opportunity that repeats. There is nothing wrong with this of course...

sigh.

the fact you see having 7 trades open as a bad thing tells me that you see risking 5% as a bad thing. but everyone has there own ways.
bet you love CFD trading.

you're exhausting, nothing more tiring than a moron that can't take advice, or learn.
Go to a fund and say you risk 5% and you get laughed out the fucking building

so you think we trade 1-2% because we have a lower win rate, no were just smarter, don't for a minute flatter yourself by thinking you're better because you risk more.

it doesn't matter if you trade once a month or once a day, the risk is still the SAME.

it hurts me people are this stupid.
There ain't no such thing as a free lunch
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