Aliassmith Beats a "Dead Horse"

[aliassmith]

Unfortunately I traded london and was BE on the day. Guess Ill pack it in for the day.

I made myself out to be a liar again. I traded later in the day.

EURUSD M5
7 pips SL
4x return
I also took a scalp after that, 4 pips.

[aliassmith]

I have been trying to improve my game as I stated before.

The first part waa stoploss analysis. I was able to bring my SL down to 2 to 7 pips range. It was more like 5 to 10 pips before. This alone helped improve my profitability.

Because of smaller SL i was able to increase my size. This was also good.

My biggest hurdle was/is trying to push for larger gains. To some extent I was able to get bigger moves. On the other hand my W/L went down to far and affected my P/L.

At this point I am satisfied even if I don't get the bigger TP and take profit how I did in the past.

The SL and bigger size help by themselves.

[aliassmith]

Trying out PRO's AUDJPY
M30 chart
6 pips SL and took 10 pips.

[aliassmith]

Even tho AUDJPY has about a 1 pip spread on FTMO it moves enough to make it worthwhile. I made 30 trades with 24 in the green. Could be my new favorite.

[aliassmith]

Maybe my last article, we'll see how it goes.

So, in the past I suggested that people test out the prop firms with either the FREE trial from FTMO or buy a small account evaluation from MFF.

I signed up for a $10,000 trial from FTMO and planned on trading it like a MFF evaluation.

Well, I messed it up first thing by using too big of size. I was using 4 lots maybe more. I drove the account down to break the drawdown threshold.

I kept trading it because FTMO will only give you a trial once every 14 days.

I traded it to positive a 15% in 2 days, I think. I wasn't happy with that test. I lost enough to get the account to $10,001 and started over.

At this point I decided on using .65 lot as my base size on AUD/JPY. That makes 1 pip about $5. This means I'll need 160 net pips to get to 8% that MFF requires. I made it to 8% during the 3rd day.

During the 3rd day I figured I would go for the 10% required by FTMO.

I added US30/Dow to my trading arsenal trading .2 lot or $2 a point. Not to long after starting with US30 I collected the remaining few % and cleared the 10% needed by FTMO.

I did this scalping 100% on my phone with the MT5 app which is harder to do than on a PC. I will go through these hard times for my Kreslik people

10% in 3 days was pretty good until Don_xyz showed up

Let's round down and assume a 50%+ month. On a single $100,000 account that's $50k*.85= $42,000 per month.

Don't get too crazy and start buying a fleet of Lambos. Make sure you set aside enough cash to keep your trading business running in case the prop firm pulls the rug out from under you.

Try to have at least $250,000 in your favorite Plan B!
Trading 1000 shares of Tesla daily can make some good cash
"The plus side to being a pattern day trader is that you will have more buying power available to you than a non-day trader! You will get 4:1 day trading buying power versus the standard 2:1 buying power."

Then there are Futures, ETF, Bonds or options as a backup plan.

If you are at least an 8% to 10% a month trader with moderate risk, the world's riches can be yours

[prochargedmopar]

#aj1.JPG (66.38 KiB) Viewed 1304 times

Hmm

[Yirbu]

Hi all,

Today I want to introduce myself as I have been reading and studying Kreslik for months if not a year or more.
I started reading after I spoke to Lem and he pointed it out to me…. Now it doesn’t feel good to be here lurking in the shadows and reading while no one knows.

I am from The Netherlands and have been trading on and off but wasn’t able yet to make it profitable.
A bit the usual story I guess.

After studying the different threads on Kreslik and trying different things my trading knowledge has grown tremendously and for that I thank you all.
I decided to focus on the deadhorse and have only been doing so lately. (That’s why I choose your thread for my introduction Alias, hope you don’t mind)

As I am aware of the fact that I still have a long way to go, I will get there…step by step.
I hope you guys want to help me on my journey when I get stuck or have some questions so Alias...please stay here...I am learning from every post, and maybe I can even post a chart or so.

Yirbu

Oh, with no doubt you have seen English is not my native language...that's just the way it is.

[aliassmith]

Hi all,

Today I want to introduce myself as I have been reading and studying Kreslik for months if not a year or more.
I started reading after I spoke to Lem and he pointed it out to me…. Now it doesn’t feel good to be here lurking in the shadows and reading while no one knows.

I am from The Netherlands and have been trading on and off but wasn’t able yet to make it profitable.
A bit the usual story I guess.

After studying the different threads on Kreslik and trying different things my trading knowledge has grown tremendously and for that I thank you all.
I decided to focus on the deadhorse and have only been doing so lately. (That’s why I choose your thread for my introduction Alias, hope you don’t mind)

As I am aware of the fact that I still have a long way to go, I will get there…step by step.
I hope you guys want to help me on my journey when I get stuck or have some questions so Alias...please stay here...I am learning from every post, and maybe I can even post a chart or so.

Yirbu

Oh, with no doubt you have seen English is not my native language...that's just the way it is.

Welcome
To get help you will need to post charts for sure. You will also find DeadHorse charts on Lem's thread.

[aliassmith]

GBPUSD M5 I did not trade. It is 4th of July weekend.

The vertical red line is about then I would sit at my charts.

Before the trade shown I might have traded and made a few pips or lost a few, basically break even

The trade that is shown is under the 20 sma that is pointing down with a zline entry.

the SL is about 4 pips and take profit is 10 to 30 pips.

Risking $200 a pip you make $2000 to $6000.

1 well executed trade might be all you need, if not there was about 5 trades for maybe 50 pips IMO.

[Yirbu]

GBPUSD M5 I did not trade. It is 4th of July weekend.

The vertical red line is about then I would sit at my charts.

Before the trade shown I might have traded and made a few pips or lost a few, basically break even

The trade that is shown is under the 20 sma that is pointing down with a zline entry.

the SL is about 4 pips and take profit is 10 to 30 pips.

Risking $200 a pip you make $2000 to $6000.

1 well executed trade might be all you need, if not there was about 5 trades for maybe 50 pips IMO.

I hope you had a nice weekend and enjoyed it.

I actually took that trade.... I was able to take 1.5R and am quite happy with the result.
Closed it when price stalled after the first big candle down. I am pretty sure the 50% retracement of the next candle would have scared me and I would probably end up with less. Would you have stayed in that trade?