TRO,
Back to that first image in this thread, where you detail your plan.
Will you tell us how you would trade that 'new blue dot level' which formed at what looks like 0400/135.75?
For instance, do you wait on that first new blue dot level to close, then go long when the next candle comes up to the brown dot at around 138.86?
Or is there something that makes you pass up that blue dot level and wait for the one at 135.66? And then go long at the brown dot around 135.71?
2008.12.18 Trading plan
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My only time to trade is between 5pm and 11pm EST. If my trading plan is to get 10 pips per trade which pair would provide the best opportunity?
Forex has always interested me but I started trading without actually knowing how it worked and I am sure you can guess how that went. I am glad I found this site. I did not know it was legal to be robbed of your money by some of these brokers. I am going to demo trade some of the indicators that have been posted here and try to understand before trading again. Who would have thought horizontal lines worked so well.
Forex has always interested me but I started trading without actually knowing how it worked and I am sure you can guess how that went. I am glad I found this site. I did not know it was legal to be robbed of your money by some of these brokers. I am going to demo trade some of the indicators that have been posted here and try to understand before trading again. Who would have thought horizontal lines worked so well.
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Gert Frobe wrote:@mwrfsu trade the usdjpy for 4 pips net per day and stop for the night. if you do this to the 21 trading days in a mo. you will be a million dollar a year trader.
airball
airball,
Thank you for the information. Small gains do add up. Is this a trading strategy that you use? How many lots do you trade?
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Gert Frobe wrote:@mwrfsu trade the usdjpy for 4 pips net per day and stop for the night. if you do this to the 21 trading days in a mo. you will be a million dollar a year trader.
airball
Jul 26, 2008 9:17pm
harold4x
now onto money management:
if you have a method that can give you consistently 60% or better over time then its all about wins and losses to make your money. i trade 3% of my acct per trade.
here is and example if you have 5000 and trade 3% of that that would be 150 as your risk and target so if you have 15 trades a month at 60% means you have 9 wins and 6 losses for a +3 wins or 9% so in a little over 9 months you double your money.
o by the way i have been trading at about 76% since january and have gone with out a loss this month so you do the math.
the mosts trades i put on in a day is 2 if i have a win then its 1 if i have a loss then its 2. thats the money management part.
the money management is the logical psycology if you see what i mean its all a mater of percentages. not traders intuition which there is no such thing.
think about intuition is saying that you can know the future sorry but only GOD knows that kind of info we are looking for high probability setup that are consistent to making money.
FULL TEXT HERE
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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Gert Frobe,
Good advice on the million a year trader.
The #'s seem to add up but.
May I ask, Are you one?
How much per pip would that be to actually get there?
Thanks.
Pro
Good advice on the million a year trader.
The #'s seem to add up but.
May I ask, Are you one?
How much per pip would that be to actually get there?
Thanks.
Pro
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
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1k per pip X 4 pips per day X 5 days a week X 50 weeks makes about a million. Your looking at about 135k to 150k of margin per trade. With tight stops and small grabs of a few pips threre is lot of risk but you can manage it. For trade money managment I use a version of rob singer's bank roll mgt. he is not a trader but a pro gambler. He is the TRO of pro video poker gets kicked from forms starts threads that become the most read ...etc his site is vptruth.com BTW I'm not a casino gambler I'm not going to give someone a dollar and than they give me back 94 cents telling me I look like James Bond & I'm having fun. I do play poker but I have one rule never play with someone who is better than me.
airball
airball
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RULE #14: The long run is longer than you think... Playing only the best hands can be frustrating... Anger and irritability can arise. The emotions can be severely tested. This is where Zen comes in.
The only way to turn the corner is to get rid of marginal trades. It is ALREADY a very fine balance. If one injects a few marginal trades into the picture, he quickly screws up the Profit/Loss equation. Making the matter worse, doing so will create chaos in both one?s equity curve and one?s head. Just get rid of marginal trades, don't stare at the monitor the whole day, and learn to maximize profits WHEN appropriate.
If we fail to take the responsibility for getting rid of marginal trades, we lose the privilege to trade. Provided one does have a good method, it?s meaningless to try to fix things any other way.
Trade LESS, make more. (William)
READ THE ENTIRE THREAD
The only way to turn the corner is to get rid of marginal trades. It is ALREADY a very fine balance. If one injects a few marginal trades into the picture, he quickly screws up the Profit/Loss equation. Making the matter worse, doing so will create chaos in both one?s equity curve and one?s head. Just get rid of marginal trades, don't stare at the monitor the whole day, and learn to maximize profits WHEN appropriate.
If we fail to take the responsibility for getting rid of marginal trades, we lose the privilege to trade. Provided one does have a good method, it?s meaningless to try to fix things any other way.
Trade LESS, make more. (William)
READ THE ENTIRE THREAD
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
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