Is that for real?

[tom7ak]

hi all,

i only got one question.........

is THAT for real?? Im seeing green $$$ on every chart now. this would be much more than ive ever hoped to get from forex it just cannot be true, can it? and the biggest con he`s ever pulled.....

the winner is where body is

what have u done to me with all those riddles? i better get some sleep and come back to trading when im in a more stable mental state:)

best regards
Tom

[tom7ak]

thank you TRO, what do I do now?

[TheRumpledOne]

thank you TRO, what do I do now?

Make check payable to Avery... LOL!

Don't change a thing. Continue to do what you are doing until it stops working.

[tom7ak]

Thank You for your reply, even though i am not clear about what it means exactly.

i saw what i wanted to see, I suppose. The same thing could mean nothing to someone else. It was more about how I reacted to it. I mean, I felt like I could do anything, no doubts whatsoever. Unlimited power, one could say. I felt like all the pieces were coming together.

As for trading, I have been in Forex for several years now, mostly focused on long term trading - 4ha/Daily/Weekly. That was NOT very successful. I am new to this forum. I have browsed some of the threads and have not really tested any of the methods. Some clues posted by either You, MO or Others, seem to have a lot of sense to me (based on my experience of what did not work), but I feel like I am "in the dark" most of the time here.

My target is to replace my full time job with Forex income. I don`t aim at being millionaire, flexibility is more important to me, I think. I don`t want to be spending hours in front of the screen.

I plan to focus on price action (day trading) and make my own system, based on some of the methods from this forum. I started looking at London open time, 5 min chart, horizontal line as a trade direction. How I see it right now is - I pick the time window (for example 3 hours after London Open) and I only enter if a signal appears within this time. TP possibly outside. I want to keep it as simple as possible.

Does it make sense to You? Any suggestions on which thread or method I might want to look at? I want to learn to READ the price action better.

As for 50$ donation, If I go live, the first $50 profit goes to you, if you meant it. I wonder why, as a successful trader, would you need it at all

thanks,
Tom

[MightyOne]

Thank You for your reply, even though i am not clear about what it means exactly.

i saw what i wanted to see, I suppose. The same thing could mean nothing to someone else. It was more about how I reacted to it. I mean, I felt like I could do anything, no doubts whatsoever. Unlimited power, one could say. I felt like all the pieces were coming together.

As for trading, I have been in Forex for several years now, mostly focused on long term trading - 4ha/Daily/Weekly. That was NOT very successful. I am new to this forum. I have browsed some of the threads and have not really tested any of the methods. Some clues posted by either You, MO or Others, seem to have a lot of sense to me (based on my experience of what did not work), but I feel like I am "in the dark" most of the time here.

My target is to replace my full time job with Forex income. I don`t aim at being millionaire, flexibility is more important to me, I think. I don`t want to be spending hours in front of the screen.

I plan to focus on price action (day trading) and make my own system, based on some of the methods from this forum. I started looking at London open time, 5 min chart, horizontal line as a trade direction. How I see it right now is - I pick the time window (for example 3 hours after London Open) and I only enter if a signal appears within this time. TP possibly outside. I want to keep it as simple as possible.

Does it make sense to You? Any suggestions on which thread or method I might want to look at? I want to learn to READ the price action better.

As for 50$ donation, If I go live, the first $50 profit goes to you, if you meant it. I wonder why, as a successful trader, would you need it at all

thanks,
Tom

As for 50$ donation, If I go live, the first $50 profit goes to you, if you meant it. I wonder why, as a successful trader, would you need it at all

Have you ever paid to have an indicator coded?
Having an indicator coded is usually not less than $60; I payed ~$230 to have my xCC coded.

"If you're such a successful trader then why don't you build my website for free?"
It doesn't make any sense doesn't it?
You can replace 'website' with 'indicators', Excel spread sheet, mow the lawn, etc and it would make just as much sense.

And lastly, if you can't spare $50 then maybe you shouldn't consider trading

[tom7ak]

Sorry, if I offended You. I didn`t mean to. I am new here and English is not my native language.

Answering your question - no I have never paid for coding an indicator. It`s not because of money though. If I wanted a specific indicator, I would not mind paying for this at all.

As for donation, I think I just like to know where my money goes, that`s all. Looking at how i put it in my last post... i can understand what you mean.

I would be more than happy to donate £50 to support this website and as a sign of appreciation to all the work you have done here. I have been here for just over a week, but I believe it helped me a lot. It`s worth much more than $50. And it is a donation from my side, not expecting anything more in return.

Please tell me where to send the money.

[MightyOne]

Sorry, if I offended You.

I couldn't care less


As for wanting to trade part time...

I have a strategy that I call the 'Macro Rat' & it works like this:

You have two rats, a 'micro rat' and a 'macro rat'.

Your micro rat scalps small charts risking 1% over 10 pips &
your macro rat 'scalps' large charts risking 2% over 10.0 pips (10.0 = 100 pips, it is just a mind-trick).

Start by 'scalping' with your macro rat but feel free to use smaller stops if they seem appropriate; unlike
your small chart, you can use 8.0, 5.0 or even 3.0 pip stops without fearing that a small wiggle is going
to take you out.

Now lets say that your macro rat makes 5.0 pips, he then hands the profit over to the micro rat and it is
magically converted into 10 pips of space.
Your micro rat then trades the small charts for a day making as much money it can (or losing it all)
& then hands any money over to you, at the end of the day, for your to do with as you like.


The great thing about this strategy is that the macro rat can trade on your busy days using buy/sell & trailing stops.
You can then trade the small charts ('micro rat') on days that you have time to trade.

[tom7ak]

Thank you for your response,

If I understood correctly:

I need to find setups (on lets say daily chart), that provide "easy/sure" pips for macro rat. I am not focused on making big money here, but simply collecting pips for "micro rat". Is it high percentage wins (with often small profit) that I am looking for here?

Then having accumulated some pips, i can use them as SPACE and additional LOTS for "micro rat". Is this correct?

As for micro rat and day trading. What sort of entry system am i looking for? If I understand - POSITION (SL) and LOTS should be my focus, not entries, which is quite opposite to what I used to do. Normally when making/testing a system, I would identify entry, check its average potential profit, look at SL`s, tweak.

Right now I am looking at 1ha - I found entries that could possibly make 1:1 R/R 70-80% of time, so in my eyes it looks promising. Then I will look at possibilities of tweaking SL`s and TP`s to increase profit, then adding to the trade, possibly on smaller TF. I`ll be probably looking at set profit targets, rather than trying to read the price when it unfolds (which I dont feel confident at).
This make sense to me, but on the other hand I started questioning anything i have learnt so far.

I dont get - 10.0 = 100pips (mind trick) and this is probably crucial to understand the concept, isnt it?

thanks
Tom

[MightyOne]

I dont get - 10.0 = 100pips (mind trick) and this is probably crucial to understand the concept, isnt it?

By thinking of 100 pips as 10.0 pips your mind trades the large charts as you would scalp the small charts.
When you are up by 37 pips then you ask yourself what you would normally do when up by 3.7 pips on a small chart.

I am not focused on making big money here, but simply collecting pips for "micro rat".

Is it high percentage wins (with often small profit) that I am looking for here?

Yes, you are focused on high percentage wins that allow your micro rat to trade 'double' the space gained (5.0 is 10 pips to the micro rat)

Then having accumulated some pips, i can use them as SPACE and additional LOTS for "micro rat". Is this correct?

Lets say that you usually trade a small chart with 2 units and a 10 pip stop loss.
Your macro rat 'scalps' 7.0 pips and hands 14 pips to your micro rat for a surplus of 4 pips.
The rat may then consider trading with 3 lots, instead of 2, with a 9.3 pip stop loss: (2/3)*14

What sort of entry system am i looking for?

The plan was originally designed for the 'Rat Trade' but any BO method will do.

Right now I am looking at 1ha - I found entries that could possibly make 1:1 R/R 70-80% of time, so in my eyes it looks promising. Then I will look at possibilities of tweaking SL`s and TP`s to increase profit, then adding to the trade, possibly on smaller TF. I`ll be probably looking at set profit targets, rather than trying to read the price when it unfolds (which I dont feel confident at).
This make sense to me, but on the other hand I started questioning anything i have learnt so far.

That is a herd mentality, you need to think outside the box.

[MightyOne]

DEFINITION OF 'STOP-LIMIT ORDER'
An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will be executed at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better. -Investopedia