Become a trader quicker,
post77053#p77053
Mr. D's Humble Quest in the Wick Land
Moderator: moderators
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
Re: Mr. D's Humble Quest in the Wick Land
someone had a whole thread of mo quotes somewhere. i think it was procharged
anyhow this one is solid gold..
"Prices rise and fall by HUNDREDS of pips every day and some how most
every one cannot figure out how to make even 1% per day.
I just dont get it, I really don't
So I am going to lay out the frame work for profiting in a such a way
that can be accomplished by anyone:
1. Which way is price likely to move in the long term (more on this later).
2. How small can I make my stops (you would be surprised)
3. Risking 1% per trade/chart enter with the momentum of the small time frame.
4. Exit all when you feel that price is likely to reverse and add that profit to your SL amount less commission.
EXAMPLE: 10 pips = 1%: You make 15 pips on a short and exit as the market starts to reverse. The next trade you risk your initial 10 + the 15 gained from shorting less 1 pip for commission to re enter.
5. Price starts heading in the long term direction and again you get an entry to short on your small TF. You short with your 25 pip stop and the market starts stalling at +7 so you exit (you are at +32).
Price retraces 45 pips and you believe price is again heading south so you short again on you small TF with a 31 pip stop.
7. YOU CAN ONLY EXIT WHILE IN PROFIT OR GET STOPPED OUT!
Price retraces 27 pips and then turns around and plummets 74 pips.
What time frame are your trading? What does that chart look like?
How many bars has it been since you first started shorting?
Trade NO MORE THAN 2 bars of any time frame!
8. You either reach your goal and make 7, 15, 26, 52, or 80%+ on your account or you lose 1%.
By reinvesting profit, having an unwillingness to let price trade to your stop while you are were profit at some point, and by sticking to a goal knowing that PRICE DOES MOVE HUNDREDS OF PIPS EVERY DAY (just about) then you will reach the goals you set out to attain and your losses
will cause you great laughter.
Think and grow rich PRO
Do you want hundreds of pips?
How about hundreds of pips while using a 10 pips stop?
The secret to surviving is to reinvest your gains into your stop.
Let price retrace and then trade in the same direction with the
larger stop.
Keep reinvesting your profits into your stop and do not exit
without new profits or move your stop closer.
WHATEVER YOU ARE RISKING YOU ARE RISKING!
If you risk 2% over 10 pips and add 20 pips in profit then
you are risking the initial 10 and the 20 pips for a 30sl.
If you risk 10 pips every trade without inflating it with profit then you may find your self getting whipsawed and no one can recover from that.
If you increase your SL to 20 and then take 20 pips in profit then
you are going to risk all of your profit on the next trade for another
mediocre profit.
Even if you made 40 pips you are risking half your profit and for what, a 2 to 1 return?
Even if you go for big pips you just sliced your profit potential in half!
By reinvesting your profit back into your stop you give your self "option like" staying power.
You use your day trading abilities to make a push on a small TF
and then you retreat (stay out DO NOT REVERSE!) as the animals give chase. Add more pips to your armor and then advance.
Keep retreating, adding, retreating, & adding until you reach your goal or your line dissolves.
What line?
The line that tells you which way your are trading!
You are not here trying to make Baby Pips (there is another forum for that) you are trying drain all the cash right out of the pockets of the Illuminati.
At 1% a 100 pip gain is a profit of 20%
At 2% a 100 pip gain is a profit of 40%
At 1% a 300 pip gain is a profit of 60%
At 2% a 300 pip gain is a profit of 120%
Risking even 0.5% per trade and reinvesting profits until
you reach your goal is enough to make the same as a trader
risking 5% per trade in and out of the market.
anyhow this one is solid gold..
"Prices rise and fall by HUNDREDS of pips every day and some how most
every one cannot figure out how to make even 1% per day.
I just dont get it, I really don't
So I am going to lay out the frame work for profiting in a such a way
that can be accomplished by anyone:
1. Which way is price likely to move in the long term (more on this later).
2. How small can I make my stops (you would be surprised)
3. Risking 1% per trade/chart enter with the momentum of the small time frame.
4. Exit all when you feel that price is likely to reverse and add that profit to your SL amount less commission.
EXAMPLE: 10 pips = 1%: You make 15 pips on a short and exit as the market starts to reverse. The next trade you risk your initial 10 + the 15 gained from shorting less 1 pip for commission to re enter.
5. Price starts heading in the long term direction and again you get an entry to short on your small TF. You short with your 25 pip stop and the market starts stalling at +7 so you exit (you are at +32).
Price retraces 45 pips and you believe price is again heading south so you short again on you small TF with a 31 pip stop.
7. YOU CAN ONLY EXIT WHILE IN PROFIT OR GET STOPPED OUT!
Price retraces 27 pips and then turns around and plummets 74 pips.
What time frame are your trading? What does that chart look like?
How many bars has it been since you first started shorting?
Trade NO MORE THAN 2 bars of any time frame!
8. You either reach your goal and make 7, 15, 26, 52, or 80%+ on your account or you lose 1%.
By reinvesting profit, having an unwillingness to let price trade to your stop while you are were profit at some point, and by sticking to a goal knowing that PRICE DOES MOVE HUNDREDS OF PIPS EVERY DAY (just about) then you will reach the goals you set out to attain and your losses
will cause you great laughter.
Think and grow rich PRO
Do you want hundreds of pips?
How about hundreds of pips while using a 10 pips stop?
The secret to surviving is to reinvest your gains into your stop.
Let price retrace and then trade in the same direction with the
larger stop.
Keep reinvesting your profits into your stop and do not exit
without new profits or move your stop closer.
WHATEVER YOU ARE RISKING YOU ARE RISKING!
If you risk 2% over 10 pips and add 20 pips in profit then
you are risking the initial 10 and the 20 pips for a 30sl.
If you risk 10 pips every trade without inflating it with profit then you may find your self getting whipsawed and no one can recover from that.
If you increase your SL to 20 and then take 20 pips in profit then
you are going to risk all of your profit on the next trade for another
mediocre profit.
Even if you made 40 pips you are risking half your profit and for what, a 2 to 1 return?
Even if you go for big pips you just sliced your profit potential in half!
By reinvesting your profit back into your stop you give your self "option like" staying power.
You use your day trading abilities to make a push on a small TF
and then you retreat (stay out DO NOT REVERSE!) as the animals give chase. Add more pips to your armor and then advance.
Keep retreating, adding, retreating, & adding until you reach your goal or your line dissolves.
What line?
The line that tells you which way your are trading!
You are not here trying to make Baby Pips (there is another forum for that) you are trying drain all the cash right out of the pockets of the Illuminati.
At 1% a 100 pip gain is a profit of 20%
At 2% a 100 pip gain is a profit of 40%
At 1% a 300 pip gain is a profit of 60%
At 2% a 300 pip gain is a profit of 120%
Risking even 0.5% per trade and reinvesting profits until
you reach your goal is enough to make the same as a trader
risking 5% per trade in and out of the market.
"So pick up your skirt, grab your balls and let's make some money"
Re: Mr. D's Humble Quest in the Wick Land
2 sides of a trader,
post77781#p77781
post77781#p77781
-
LeMercenaire
- rank: 1000+ posts
- Posts: 3184
- Joined: Tue Sep 27, 2016 12:11 am
- Reputation: 2303
- Gender:
Re: Mr. D's Humble Quest in the Wick Land
I love this:
''It is just a matter of trying to do things differently while not making the same mistake twice.''
If I think about it, that kind of sums up my approach to trading perfectly.
I never try to re-invent the wheel. I am happy to find ''stuff'' that works and combine it into some kind of play book that suits me. I am the trading equivalent of the Spaghetti Western
''It is just a matter of trying to do things differently while not making the same mistake twice.''
If I think about it, that kind of sums up my approach to trading perfectly.
I never try to re-invent the wheel. I am happy to find ''stuff'' that works and combine it into some kind of play book that suits me. I am the trading equivalent of the Spaghetti Western
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.