My intentions were not to ram anything down anyone’s throats.I’m here just trying to encourage new traders not to give up.
I’m not here to brag about what a great trader I am, nor am I here to sell my training, as I’m very selective on whom I decide to train. I neither advertise nor do I need to teach. I only take on 2-3 new traders a year, and I do it because I love Trading.
Wow, you want me to validate? Under normal circumstances I would not even entertain such a request. But since there are a lot of fakers out here, I’m going to place some of my random trades for you.
I’m even going to share my chart set-ups. If you’re smart enough you may be able to figure out my strategies?
I use what I call a soft SL. It’s not placed on charts so only I can see.
I know how much I’m prepared to lose on a trade only after I do my analysis.
Once I enter a trade, If the trade goes against me, that means I was wrong in my analysis. I can do 1 of 2 things, a. get out or b. let my account strength run the trade back to TP. But I never cluster where inexperienced traders place their hard SL.
@TonoFX
I’m sure that trading strong and weak is the best way to go, it is sooo logical, it makes perfect sense to me. Like you said though, if it is done right.
It would appear that yeas he mentally puts in a stop - BUT either without regard to support resistance, or by simply adding some “wriggle room” to where everyone else puts their stops.
ergo - he is praying for a reversal after the stops have been hit.
I guess you can call it a mental stop loss. No, I don’t watch my trades all the time.
I trade off the daily chart, so I have a pretty good idea of how many pips the market can provide based on S&R.
Therefore, once I place a trade even If I used a smaller time frame to pull the trigger, I have a pretty good idea based how long it will take before I’m in profit or near (haha) mental SL.
If you’re trading off of the smaller time frames, you’re really just trading the noise of the market and chasing smaller pips per trade.
By the way, my contribution to this post was flagged by several members as spam (trying to advertise my services). Not once did I try to sell anything to anyone on this post, nor did I ever imply that I would train anyone for a fee. I took the time to try encourage new traders and to show them that Forex really is an incredible outlet to become financially independent. I even shared my trade platform so that you can try to copy my charts.
Like the old saying “No good deed goes unpunished”.
I’ll be ending my comments here, I wish you all much success in your forex journey.
I have been troubled by the same problem. I have now regrouped my thoughts after a comment from elsewhere got me thinking, ONE trade at a time that is in a confirmed trend, small trade first, modest take profit, this way so far it has started to work for me.
Baby Pips, where have I heard that before?
I have now started to make small profits, and I expect they will grow with time.
Maybe a little patience and a shot at the way I am doing it will help, never know 'till ya have a go.
Good luck my friend.
Hi TonoFX - Its always nice to read a contrarian view of the “conventional wisdom” of trading.
Your comments on trading without a fixed SL are especially interesting. That said, I still think for most traders its just going to lead them into trouble.
There are those of us here who try to help (and if need be to protect) newbie and up-and-comers from hucksters and unrealistic expectations.
Given your very fantastical claims, I would hope you could produce some sort of long term proof of your trading success. Anyone can achieve 95% win rates with small draw-downs over a small window of time. Many traders here, including myself, have done it numerous times. Those small windows are irrelevant though, since what matters is long term profitability and risk.
I am not asking for your personal bank statements, or for you to explain for trading methodology, but I would hope you can show us at least 2 years of this sort of successful trading history if you are going to make such claims.
