The idea's we trade by, so we never lose again. p2. The students become the masters

[dchappy]

This last weeks action

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The Start and Target...

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Trend Validations, Additions and Close with Reversal at Zline...

Today's play...

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Channel Targets and reversal case...

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The days play... 1-2-3... as MO teaches

However the last long with all the days winnings packed into it is basically a trade that I love to do at cone extremes... as soon as price returns I go in the opposite direction of the price action... (I have used this strategy to trade options on mining and resource stocks this year to great effect...) but yeah its just a No 2 entry at heart... These number 2 entries are a really nice way to get in early on in the move...

Notice how many times a 123 reversal is triggered at a cone / channel line .Yesterday all of the EU pairs that I trade were clearly triggered at that juncture .

[Jalarupa]

I know right!

It's pretty amazing!

SO THE BIG PICTURE IS YEARLY LOW (LONG Term Support - ZLINE)

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LONG TERM CONE BASE FORMING...

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AS WE COME CLOSER TO LONG TERM ZLINE AND CONE 2'S - FOR THE MOVE UP TOWARDS HELD PROFIT ZLINE

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THIS ONE IS ON BID WATCH... LONG TERM - TURN AND BURN

BOJ currently seen as being less dovish (didn't apply stimulus in last meet this week) - Therefore JPY Strengthened notably

[v8power]

V8, can you tell me which brokers you use? I want one onshore and one offshore one that I can rely upon.

If you do a quick google search you will find some good ones. I know Tailnexx has been mentioned on Kreslik and Forex Brokers Inc has some good reviews . Since there offshore and you could have problems I just don't want anyone to trade with them just cuz I have. But I have read your posts Newark and know your smart and can read between the lines of this post

Don't feel like you ever have to stay with a broker either. I stayed with MBT cuz they were promoted as the best of the best. But I hated them and had issues all the time. And that was with a small account with 15,000 when I first started. I go through brokers like women.

[newark18]

V8, can you tell me which brokers you use? I want one onshore and one offshore one that I can rely upon.

If you do a quick google search you will find some good ones. I know Tailnexx has been mentioned on Kreslik and Forex Brokers Inc has some good reviews . Since there offshore and you could have problems I just don't want anyone to trade with them just cuz I have. But I have read your posts Newark and know your smart and can read between the lines of this post

Don't feel like you ever have to stay with a broker either. I stayed with MBT cuz they were promoted as the best of the best. But I hated them and had issues all the time. And that was with a small account with 15,000 when I first started. I go through brokers like women.

I looked into Tallinex before but never opened an account. I will again. Thank you.

[v8power]

Risk and Trades

You really think your 1% or.5% risk over 10 pips is really reducing risk to save you from gaps and adverse moves? Even .5% risk would have blown out your account with this 2,000 pip move in less then 2 hours. You think your sl with your bucket shop would have saved you. Haha. They would have waited until they felt it was safe and then honored your sl at whatever price was currently at. This doesn't even take into account had you had any OPM on your trade. So whether you were risking .5% or 5% your account was busted. But what if you are the trader who risk 5% and price had moved 2,000 pips in your favor. Gaps and adverse moves happen randomly so they are just as likely to hurt your account as they are to add to it.

I size my risk based on what happens 99% of the time, of when I trade. I don't worry about what price did one time 1,372 trading days ago. I just try to make as much money as possible over those 1,372 days and deal with the .1% moves when they happen

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Why do I take in some peoples opinon so many trades. Because I know that I have an edge and like a casino the hands(trades) placed the more I know over the long run I will win. I don't know which trades I will win or lose but I know that I win 60-90% of the time with returns of 1:1 up to 50:1. So why wouldn't I place the trade. If I am going to sit my ass in front of my computer for 16hrs a day then I want to maximize the % I win to the extreme.

[v8power]

V8, can you tell me which brokers you use? I want one onshore and one offshore one that I can rely upon.

If you do a quick google search you will find some good ones. I know Tailnexx has been mentioned on Kreslik and Forex Brokers Inc has some good reviews . Since there offshore and you could have problems I just don't want anyone to trade with them just cuz I have. But I have read your posts Newark and know your smart and can read between the lines of this post

Don't feel like you ever have to stay with a broker either. I stayed with MBT cuz they were promoted as the best of the best. But I hated them and had issues all the time. And that was with a small account with 15,000 when I first started. I go through brokers like women.

I looked into Tallinex before but never opened an account. I will again. Thank you.

The spreads are high for there micro, but pretty good for there macro. I think the website is called like forexarmy or something and Forex broker has almost all positive reviews. More then tradeking has, that's for sure, haha. But yea I would look into those, smart small, get a feel for them, send emails asking questions so you get to interact with employee's and see how they treat you. MBT had the worst customer service ever I thought and TradeKing would take days to reply to emails. FB has never taken longer then an hour to respond.

[v8power]

Working on my scalping ability and doing to angles/triangles what I do best. Dumbing it done to super basic ideas and not worrying about if its right or not. Just applying it to my charts. Over 300 pips for the day off of one pair. Only traded one pair. Didn't use HTF just 5m and 1hour. SL was 10 pips. Not to shabby.

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[aliassmith]

Risk and Trades

You really think your 1% or.5% risk over 10 pips is really reducing risk to save you from gaps and adverse moves? Even .5% risk would have blown out your account with this 2,000 pip move in less then 2 hours. You think your sl with your bucket shop would have saved you. Haha. They would have waited until they felt it was safe and then honored your sl at whatever price was currently at. This doesn't even take into account had you had any OPM on your trade. So whether you were risking .5% or 5% your account was busted. But what if you are the trader who risk 5% and price had moved 2,000 pips in your favor. Gaps and adverse moves happen randomly so they are just as likely to hurt your account as they are to add to it.

I size my risk based on what happens 99% of the time, of when I trade. I don't worry about what price did one time 1,372 trading days ago. I just try to make as much money as possible over those 1,372 days and deal with the .1% moves when they happenusdchfpro-h1-tradeking-forex-llc.png.

Why do I take in some peoples opinon so many trades. Because I know that I have an edge and like a casino the hands(trades) placed the more I know over the long run I will win. I don't know which trades I will win or lose but I know that I win 60-90% of the time with returns of 1:1 up to 50:1. So why wouldn't I place the trade. If I am going to sit my ass in front of my computer for 16hrs a day then I want to maximize the % I win to the extreme.

No matter if you were long or short during that swiss black swan I'm sure you got screwed.

As for risk I actually adjusted my leverage down to 10:1. I don't really watch risk as a hard number. I just trade between 2.5:1 and 10:1 depending how it looks. I'm trying to survive the game so I can keep playing.

I'll take as many trades that come along if I can make money.

[aliassmith]

Working on my scalping ability and doing to angles/triangles what I do best. Dumbing it done to super basic ideas and not worrying about if its right or not. Just applying it to my charts. Over 300 pips for the day off of one pair. Only traded one pair. Didn't use HTF just 5m and 1hour. SL was 10 pips. Not to shabby.

gbpusd-m5-oanda-division1.png

300 pips scalping in one day is wild.
Good for 1 day
Good for 1week
Good for 1month (would have to trade 10 lots tho)

[v8power]

You want a glimpse into my twisted mind. I don't care about wining trades on a day to day basis or being up whatever %. Each week is the start of a new game. The game is this. You have x% to risk and your goal is not to make small gains. Your goal is either to lose all of x or make 10%,100%,1000%. Here is how you risk .1% per 10 pips, 1% max risk for the whole week and still add a zero by the end of the week (over 4,000pips gained). This is just my way of looking at the markets. I don't want normal or average.

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