Patterns Observation.

[Yirbu]

So again, where would you exit if these are all your entries. Better yet, where would you enter if that is your chart (using that exact line chart)?

Blue horis are buy,
Red horis are sell.

Nice. This is fun. I'll do this later, traveling now

[Don_xyZ]

Done for the day chart.
Losing streak wiped off by 2 mini anchor trades profit.
Will you cower in the face of a losing streak that takes your account down to 40%? This morning's scenario described perfectly why you must have a steel mentality. Was down by more than 40% just now and then recovered it all with 80%++ profit (40% net for the day).

What will you do when you're faced with losing streak with big impact?

will you cower.png (26.72 KiB) Viewed 641 times

Mental fortitude is crucial!

[kiwiarian]

Done for the day chart.
Losing streak wiped off by 2 mini anchor trades profit.
Will you cower in the face of a losing streak that takes your account down to 40%? This morning's scenario described perfectly why you must have a steel mentality. Was down by more than 40% just now and then recovered it all with 80%++ profit (40% net for the day).

What will you do when you're faced with losing streak with big impact?

will you cower.png

Mental fortitude is crucial!

Good result, well done.
I guess you need to put the money on the table to get something decent back.
Even if you lost today, it looks like you would make it back in the next day or so anyhow and then some.
As a risk manager we should allow for that eventuality to be able to carry on another day.

[Don_xyZ]

Done for the day chart.
Losing streak wiped off by 2 mini anchor trades profit.
Will you cower in the face of a losing streak that takes your account down to 40%? This morning's scenario described perfectly why you must have a steel mentality. Was down by more than 40% just now and then recovered it all with 80%++ profit (40% net for the day).

What will you do when you're faced with losing streak with big impact?

will you cower.png

Mental fortitude is crucial!

Good result, well done.
I guess you need to put the money on the table to get something decent back.
Even if you lost today, it looks like you would make it back in the next day or so anyhow and then some.
As a risk manager we should allow for that eventuality to be able to carry on another day.

Yes, traders must be able to manage their risk.
Since I stopped managing OPM many years ago, I seek to optimize my gains. One can only optimize his gains if they know the limit of their strategy and one can only know the limit of their strategy if they have enough WIL and WIL comes from experience.

These kinds of market scenarios (tight range) are the stumbling block for any trading strategy thus, a trader must always test their strategy against it. Questions like:

How many times can I take a hit from the market?
How big of a risk must I use in order to survive such a situation?
Do I need a "reserve" or not?
Do I have a "reserve" or not?
How many times must I take the hit before I stop fighting and try another strategy?

These are samples of questions to use to gauge the market. For money management and other management, I already put a short post in the links of the 1st post in this thread. IgazI has posts about money management too but unfortunately, I don't keep a record of where he posted it so you need to do some work on that the only thing I remember is that particular post was closely related to my post about money management.

People are too lax when they trade and that includes me. I only started trading Asian session again pretty recently. That is why I always put analogy about getting into Mixed Martial Arts ring. When you're there you don't hold back punches, you don't keep your tactics hidden. You punch and kick and grapple as hard as you can using everything you've mastered and you evade as much as you can. You fight using your everything in the maximum level. That is my philosophy in trading. My account is designed for such combat in mind and that's why you see me post daily results in the double or sometimes triple-digit area. In the event that I incur heavy losses that really disable me to push forward, I will inject more money into the account but this is extremely rare. I already gave ideas about how to manage money for trading and those things are more than sufficient to blast your performance to the max. Question is, do you have what it takes? Mentally and physically? I showed what's possible and you guys have seen my post on trading with heavy lots, no SL, very tight SL, scalping, swing and many other things all throughout this thread.

You can be (...) and you will be (...)



Here's a sample of how smart people manage risk...

hello SVB.jpeg (60.41 KiB) Viewed 619 times

How many times have you heard of a crisis in your life? Those are good samples of how great the smart people are in managing risk. Yeah, I bet all of them used very sophisticated risk management techniques even until the day they collapse

[kiwiarian]

Done for the day chart.
Losing streak wiped off by 2 mini anchor trades profit.
Will you cower in the face of a losing streak that takes your account down to 40%? This morning's scenario described perfectly why you must have a steel mentality. Was down by more than 40% just now and then recovered it all with 80%++ profit (40% net for the day).

What will you do when you're faced with losing streak with big impact?

will you cower.png

Mental fortitude is crucial!

Good result, well done.
I guess you need to put the money on the table to get something decent back.
Even if you lost today, it looks like you would make it back in the next day or so anyhow and then some.
As a risk manager we should allow for that eventuality to be able to carry on another day.

Yes, traders must be able to manage their risk.
Since I stopped managing OPM many years ago, I seek to optimize my gains. One can only optimize his gains if they know the limit of their strategy and one can only know the limit of their strategy if they have enough WIL and WIL comes from experience.

These kinds of market scenarios (tight range) are the stumbling block for any trading strategy thus, a trader must always test their strategy against it. Questions like:

How many times can I take a hit from the market?
How big of a risk must I use in order to survive such a situation?
Do I need a "reserve" or not?
Do I have a "reserve" or not?
How many times must I take the hit before I stop fighting and try another strategy?

These are samples of questions to use to gauge the market. For money management and other management, I already put a short post in the links of the 1st post in this thread. IgazI has posts about money management too but unfortunately, I don't keep a record of where he posted it so you need to do some work on that the only thing I remember is that particular post was closely related to my post about money management.

People are too lax when they trade and that includes me. I only started trading Asian session again pretty recently. That is why I always put analogy about getting into Mixed Martial Arts ring. When you're there you don't hold back punches, you don't keep your tactics hidden. You punch and kick and grapple as hard as you can using everything you've mastered and you evade as much as you can. You fight using your everything in the maximum level. That is my philosophy in trading. My account is designed for such combat in mind and that's why you see me post daily results in the double or sometimes triple-digit area. In the event that I incur heavy losses that really disable me to push forward, I will inject more money into the account but this is extremely rare. I already gave ideas about how to manage money for trading and those things are more than sufficient to blast your performance to the max. Question is, do you have what it takes? Mentally and physically? I showed what's possible and you guys have seen my post on trading with heavy lots, no SL, very tight SL, scalping, swing and many other things all throughout this thread.

You can be (...) and you will be (...)



Here's a sample of how smart people manage risk...

hello SVB.jpeg

How many times have you heard of a crisis in your life? Those are good samples of how great the smart people are in managing risk. Yeah, I bet all of them used very sophisticated risk management techniques even until the day they collapse

What's the difference between managing OPM and managing your own? Answer, if you perform poorly managing your own you don't get paid Couldn't resist that one.
Yes both of you have put a lot in the MM advice, being a student of the markets, I will be going through and making notes so hopefully can get it all into one place.
Someone I know does a similar thing, he calls it his boot money, so if his drawdown is getting up there, he can quickly put some money into the account to give him ammunition to fix things.I guess this is go full out fighting this, its either a knockdown or you get to walk out of the ring. I think Pro said he was like this but he can refund his account quite quickly if he gets knocked down.
Lots of ideas on this thread....

[Don_xyZ]

Good result, well done.
I guess you need to put the money on the table to get something decent back.
Even if you lost today, it looks like you would make it back in the next day or so anyhow and then some.
As a risk manager we should allow for that eventuality to be able to carry on another day.

Yes, traders must be able to manage their risk.
Since I stopped managing OPM many years ago, I seek to optimize my gains. One can only optimize his gains if they know the limit of their strategy and one can only know the limit of their strategy if they have enough WIL and WIL comes from experience.

These kinds of market scenarios (tight range) are the stumbling block for any trading strategy thus, a trader must always test their strategy against it. Questions like:

How many times can I take a hit from the market?
How big of a risk must I use in order to survive such a situation?
Do I need a "reserve" or not?
Do I have a "reserve" or not?
How many times must I take the hit before I stop fighting and try another strategy?

These are samples of questions to use to gauge the market. For money management and other management, I already put a short post in the links of the 1st post in this thread. IgazI has posts about money management too but unfortunately, I don't keep a record of where he posted it so you need to do some work on that the only thing I remember is that particular post was closely related to my post about money management.

People are too lax when they trade and that includes me. I only started trading Asian session again pretty recently. That is why I always put analogy about getting into Mixed Martial Arts ring. When you're there you don't hold back punches, you don't keep your tactics hidden. You punch and kick and grapple as hard as you can using everything you've mastered and you evade as much as you can. You fight using your everything in the maximum level. That is my philosophy in trading. My account is designed for such combat in mind and that's why you see me post daily results in the double or sometimes triple-digit area. In the event that I incur heavy losses that really disable me to push forward, I will inject more money into the account but this is extremely rare. I already gave ideas about how to manage money for trading and those things are more than sufficient to blast your performance to the max. Question is, do you have what it takes? Mentally and physically? I showed what's possible and you guys have seen my post on trading with heavy lots, no SL, very tight SL, scalping, swing and many other things all throughout this thread.

You can be (...) and you will be (...)



Here's a sample of how smart people manage risk...

hello SVB.jpeg

How many times have you heard of a crisis in your life? Those are good samples of how great the smart people are in managing risk. Yeah, I bet all of them used very sophisticated risk management techniques even until the day they collapse

What's the difference between managing OPM and managing your own? Answer, if you perform poorly managing your own you don't get paid :lol: Couldn't resist that one.
Yes both of you have put a lot in the MM advice, being a student of the markets, I will be going through and making notes so hopefully can get it all into one place.
Someone I know does a similar thing, he calls it his boot money, so if his drawdown is getting up there, he can quickly put some money into the account to give him ammunition to fix things.I guess this is go full out fighting this, its either a knockdown or you get to walk out of the ring. I think Pro said he was like this but he can refund his account quite quickly if he gets knocked down.
Lots of ideas on this thread....

Wise!

Those who managed/ have been managing money know the money comes from different sources, not necessarily from trading alone. I used to hunt for commission myself. On top of that, we get paid for managing account(s) and then profit split. There is a very famous case in my country where a trader opened a master account and put it in every copy trading platform available, I think this case was more than 5 years ago (or even more). The account itself only has like $10,000 or so but he raked in more than $100,000 and yet his followers get a measly monthly return and sometimes even losing months. But the subscription fee made him rich coz he run that master account for a couple of years. Not that I'm against it, on the other hand, I think it's smart to maximize your income that way but if you're big then those subscription fees don't really matter that much anymore. I thought about selling trading courses, opening a live trading room or speaking to a private audience but I just want to enjoy my life. My first trading mentor looks like a beggar in the trading community where everyone flaunts their "riches" but then my friend in the accounting department told me his money dwarfs everyone else's.

[kiwiarian]

Yes, traders must be able to manage their risk.
Since I stopped managing OPM many years ago, I seek to optimize my gains. One can only optimize his gains if they know the limit of their strategy and one can only know the limit of their strategy if they have enough WIL and WIL comes from experience.

These kinds of market scenarios (tight range) are the stumbling block for any trading strategy thus, a trader must always test their strategy against it. Questions like:

How many times can I take a hit from the market?
How big of a risk must I use in order to survive such a situation?
Do I need a "reserve" or not?
Do I have a "reserve" or not?
How many times must I take the hit before I stop fighting and try another strategy?

These are samples of questions to use to gauge the market. For money management and other management, I already put a short post in the links of the 1st post in this thread. IgazI has posts about money management too but unfortunately, I don't keep a record of where he posted it so you need to do some work on that the only thing I remember is that particular post was closely related to my post about money management.

People are too lax when they trade and that includes me. I only started trading Asian session again pretty recently. That is why I always put analogy about getting into Mixed Martial Arts ring. When you're there you don't hold back punches, you don't keep your tactics hidden. You punch and kick and grapple as hard as you can using everything you've mastered and you evade as much as you can. You fight using your everything in the maximum level. That is my philosophy in trading. My account is designed for such combat in mind and that's why you see me post daily results in the double or sometimes triple-digit area. In the event that I incur heavy losses that really disable me to push forward, I will inject more money into the account but this is extremely rare. I already gave ideas about how to manage money for trading and those things are more than sufficient to blast your performance to the max. Question is, do you have what it takes? Mentally and physically? I showed what's possible and you guys have seen my post on trading with heavy lots, no SL, very tight SL, scalping, swing and many other things all throughout this thread.

You can be (...) and you will be (...)



Here's a sample of how smart people manage risk...

hello SVB.jpeg

How many times have you heard of a crisis in your life? Those are good samples of how great the smart people are in managing risk. Yeah, I bet all of them used very sophisticated risk management techniques even until the day they collapse

What's the difference between managing OPM and managing your own? Answer, if you perform poorly managing your own you don't get paid :lol: Couldn't resist that one.
Yes both of you have put a lot in the MM advice, being a student of the markets, I will be going through and making notes so hopefully can get it all into one place.
Someone I know does a similar thing, he calls it his boot money, so if his drawdown is getting up there, he can quickly put some money into the account to give him ammunition to fix things.I guess this is go full out fighting this, its either a knockdown or you get to walk out of the ring. I think Pro said he was like this but he can refund his account quite quickly if he gets knocked down.
Lots of ideas on this thread....

Wise!

Those who managed/ have been managing money know the money comes from different sources, not necessarily from trading alone. I used to hunt for commission myself. On top of that, we get paid for managing account(s) and then profit split. There is a very famous case in my country where a trader opened a master account and put it in every copy trading platform available, I think this case was more than 5 years ago (or even more). The account itself only has like $10,000 or so but he raked in more than $100,000 and yet his followers get a measly monthly return and sometimes even losing months. But the subscription fee made him rich coz he run that master account for a couple of years. Not that I'm against it, on the other hand, I think it's smart to maximize your income that way but if you're big then those subscription fees don't really matter that much anymore. I thought about selling trading courses, opening a live trading room or speaking to a private audience but I just want to enjoy my life. My first trading mentor looks like a beggar in the trading community where everyone flaunts their "riches" but then my friend in the accounting department told me his money dwarfs everyone else's.

Life insurance is another good gig to get on, as once someone signs up, the sales person gets an income for the life of the policy.
Here in NZ that happens anyhow. passive income cha ching.
Your first mentor probably does not have time to flaunt it, as mentors have their door open for those questions at 2am.
If you enjoy speaking to people then it might suit, but it's probably that time commitment and lack of freedom.
Plus you need a hip name, DON XYZ aint going to cut it
Doing a seminar in a posh hotel could be fun, get to practice your public speaking, free food(Pro you hearing this?! ).
Or just quietly make some money and have nice holidays.

[Yirbu]

Done for the day EU session.

Crazy first couple hours. Good thing I came out with some green. One trade wipes out all the losses. BEs, losses and then profit.

European session horis.png

So again, where would you exit if these are all your entries. Better yet, where would you enter if that is your chart (using that exact line chart)?

Blue horis are buy,
Red horis are sell.

Looking at that day I don't think I would short during the first period.
After shorting 3 or 4 times I would likely use a bigger SL/smaller position to see if I would survive that bouncing around.
With the new hour I would definitely be long, close it and go long again.

UJline.jpg (110.77 KiB) Viewed 543 times

[Don_xyZ]

What's the difference between managing OPM and managing your own? Answer, if you perform poorly managing your own you don't get paid :lol: Couldn't resist that one.
Yes both of you have put a lot in the MM advice, being a student of the markets, I will be going through and making notes so hopefully can get it all into one place.
Someone I know does a similar thing, he calls it his boot money, so if his drawdown is getting up there, he can quickly put some money into the account to give him ammunition to fix things.I guess this is go full out fighting this, its either a knockdown or you get to walk out of the ring. I think Pro said he was like this but he can refund his account quite quickly if he gets knocked down.
Lots of ideas on this thread....

Wise!

Those who managed/ have been managing money know the money comes from different sources, not necessarily from trading alone. I used to hunt for commission myself. On top of that, we get paid for managing account(s) and then profit split. There is a very famous case in my country where a trader opened a master account and put it in every copy trading platform available, I think this case was more than 5 years ago (or even more). The account itself only has like $10,000 or so but he raked in more than $100,000 and yet his followers get a measly monthly return and sometimes even losing months. But the subscription fee made him rich coz he run that master account for a couple of years. Not that I'm against it, on the other hand, I think it's smart to maximize your income that way but if you're big then those subscription fees don't really matter that much anymore. I thought about selling trading courses, opening a live trading room or speaking to a private audience but I just want to enjoy my life. My first trading mentor looks like a beggar in the trading community where everyone flaunts their "riches" but then my friend in the accounting department told me his money dwarfs everyone else's.

Life insurance is another good gig to get on, as once someone signs up, the sales person gets an income for the life of the policy.
Here in NZ that happens anyhow. passive income cha ching.
Your first mentor probably does not have time to flaunt it, as mentors have their door open for those questions at 2am.
If you enjoy speaking to people then it might suit, but it's probably that time commitment and lack of freedom.
Plus you need a hip name, DON XYZ aint going to cut it
Doing a seminar in a posh hotel could be fun, get to practice your public speaking, free food(Pro you hearing this?! ).
Or just quietly make some money and have nice holidays.

If anything, this guy knows what he's talking about...

There's a saying... "learn from the best" ?

[Don_xyZ]

Done for the day, 2nd episode (thanks to dojirock for making me realize I've been too lazy)

If you've noticed, there has been no training wheel for several posts now.
So, can you tell me where's hori? Blue and red horis.
I hope you can already tell (uhm, you really must learn line chart. Right IgazI? )

where's hori.png (23.41 KiB) Viewed 509 times

This is how you milk your trading account day in and day out. Some people will be shocked to see the gains I posted on this thread but Kreslikers won't even flinch coz they're already used to seeing this kind of stuff.