hello,...good points u got there defiance dude...will address all, few in details....the rest is not for public discussions.
u seem clever, but what i see as better quality than clever is that u r a working horse/the amount of time and effort u invest here searching for clues/ good one...
i was like this when i started trading patterns 6 years ago
This is where my frustration/not a big one, just a lil one lol/ is coming from...this topic does not move, but time flies, and the teacher seem to disappear for a year or two with all the promises with him...
I dont judge, just think out loud now, ye? : )
Many guys with potential and time and energy passed tru here and left because of lack of development and all...lots of guys are doing the same now and will pass also...this thing needs to move in the direction of making money or desolve...its 6 years old for faks sake...
There are fund firms that are younger and make money and they are ran by people not smarter than you all here, BUT they are ran with robotic consistency, not whit meditation ...
TMB weak from chilling out and get to work man!!! otherwise you will keep explaining what is XA leg and what is CD leg for another 6 years....damn lol
Defiance dude, i got close to your win ratio in my top trading patterns times, but never got over on yearly basis and i changed style pretty fast after seeing more minus coming my way after backtests of the current/not full/ rules.
visual stops dont work! fact!
what the hell is a stop??
u place a stop where price wont reach before reversing a trend/any traded time frame/
and u place a stop where a price will reach 1st after reversing a trend/ so u dont loose more money/if price goes against u
Visual stop waiting for a candle to close has nothing to do with Money Management and usually is an excuse for weak or bad discipline...any TF...
Intellectuals are pretty big fall on the markets- fact!
As u see im not promoting my trading method here and im far from doing it, im criticizing mostly because i want to see faster pace here...and ppl making money ...
This show is 2 slow for now and not producing results ...i like action and work...and TMB is a friend and i want to kick him behind and move him a bit by doing so...
U dont need to be a genius and making money trading, quite the opposite...
u need drive and philosophy that says: ''''i take'''=small targets' and ''''i dont give back''''=small stops + edge over these two, to drive it
take profit often=small reasonable targets 10-15-20 pips for M5, M15 is doable few times a day
small stops= know when to get out without blowing 30% acc size on a deal u got stuck for 2 weeks
I wont show the little things i do, yes...not yet,or maybe never
But this is 90% of the things i do when i trade: still i share, ye?
I trade in the volatile times- Frankfurt open to NY +3 hours in session
Trade the majors and just few of the crosses...think about where the most money are traded on forex, for sure it is not gbp/chf or nzd/jpy...theese are small markets often used as carry and are good for trading not more than 2-3 months per year
/my opinion of course/
Got backtests on the markets i trade and the setups i look for ,so i got a proven edge./for now lol/things change fast in da field/
Got a understanding of trend direction changes and i wait for my trades.
Im fine trading lower time frames and usually make money on M5 M15 tf, but i trade H4 setups also...
М5=small stop= big acc exposure more times a day...ect...im a day trader.
Move my stop at +1 after every 1st target hit and i add if im with the trend after cashing out 1st profit
something like this: break, enter, profit, stop at + ,pullback ,reenter ..ect
M1 TF is everything
i NEVER trade in a range ...but i trade the range breaks
To know what a range is u need to know how to read tops and bottoms and trend /leg structures.... wont talk about it
G/J Thursday M15 ,session time: +62, +142+219 pips , and stop is big, yes... MM is here to be used
entry after trend line break and higher low established...clear break up sig for alot of big money and i fallow....here i was right
Friday =no entry ,trend is up and i want to get with the 1st big money down, but it did not happened , price stayed in up trend, no trades here today :::dont chase it...other markets did good today::::all this is in baby pips school as free info
another pic i add with zoomed M5 break and entry info...red area is opposite resistance and i want to be out with most of my lost before this lvl gets approached by price, because i dont buy the 70% chance rule or any rule of same sort...im out before the lvl because i cant read the minds to those who drive this market....could be a double top and price drops 300 pips in 1 hour...this cross is doing this all the time.....nothing dumber than u being in a good profit and u let minus stop to get hit after that...this is not managing your trades and its not trading at all
STOPS at + after 1st big exposure and target 1, then smaller adds and trailing stops...if u know price action and MM and u trade with the trend u r ok as long ur edge is + after backtest...whatever da strategy
Take profit before supp/res lvls and let your edge win over...u just execute
Move stops at + 1 after taking partial profit and stay with current trend
...u need several pips a day over a year to get an edge...but it needs discipline =..hard
now it is a matter of markets to trade with some profit cashed and stop at positive...never at 0.
..taking +1 stop after partial profit u still pay yourself 1 point per stop hit...
Now calculate the stops hit +1 pip/ No risk here/ for the whole trading year..!!!
I usually get 600 to 1000 pips a year out of +1 stops hit , which are usually half my positions getting stopped after cutting and moving the stop at +
Im a dumb ass and i got stopped half the time and more....markets, what can u do lol
But when a dumb ass is sitting behind multi mill $ acc, he is happy doing 1000+ pips a year out of his stops, cos hes trading 600 to 2000 lot positions...and can feed 1000 homeless poor ass madafakas every day for free, with stop money only
not there yet baby but soon...
i wish it to all hard workers here...
need a drink
friday it is
,,,,,,,, just realised u cant see **** on this pic sharing...
this thing takes 2 much of a time and i dislike the way it edits ...