In that one I looked at the 4hr chart and it looked to me like most people would be trading short. So I went ahead and took the longs on that one. That was a 30 min chart I was showing in the second video btw.
Let me know if that answers it for you.
Thanks!
Got it. I wasn’t thinking.
Thanks
Seems like there are no set rules for determining position size and where to put your stop loss of 5% since the stop loss depends on the position size. The smaller the position size the farther away you can put your stop loss in case the trend turns against you. However, this means you will be earning a smaller reward as well. Therefore it seems like you will always be risking more than you what you can potentially make. Let’s say you are aiming for 1% reward for your 40%-60% range and then you will be risking 5% on your stop loss. That means you will need to win 5 out of 6 trades just to break even and you will need to win about 90%+ of trades to get a positive return. Also in the myfxbook you linked, if you are using purely this strategy, I don’t see how your average win and average loss can be that close both pip wise and dollar wise. Can you elaborate on some of these?
Thank you.
Coffeeshop,
Thanks for the easy explanation, and thoughts. I have been trading similar, but without much success so am going to refine my efforts and apply your process.
No problem!
I am looking at doing a newbie trade along series where I start with a $100 account and I give you all the trade setups for a given month so people really get it. My only thought is people have dayjobs so they might not be able to trade along. So it might be another ebook or maybe a trading course for after the month is over. I like the video series idea as well.
I would certainly follow, and would like both a live and ebook
Thanks for the additional info.
I think the Ebook is more likely to happen. The only problem with follow along is how I get the information out to the people in any real and usable way.
I will have to look into that, maybe through Zulu or something of the sort.
No Problem!
Hey there guys. So this month has been fantastic for me and my trading. I hit a much higher number than I even meant to (almost doubling my account).
So I am going to back off my main account for next month in favor of putting a comprehensive ebook and course for those starting with $100 dollar accounts which means I will be documenting my trades in various ways and should have a whole course for you guys in the coming months.
I will be around to answer questions anyone has.
Thanks much guys!
Sounds exciting Coffeeshop.
Can you post some live trades for us to watch you work? Thanks. G.
Coffeeshop,
Looking forward to learning more.
Great that you are willing to put the efforth into making a course/guidline for your system.
Read your first edition of the pdf book and what I missed about it was a little more clear examples of live trades and charts already done.
If you are are in for it, maybe consider to make a videocourse?
A few of you might of seen the Pilot signup post while it was briefly up.
I was trying to put together a small group of about 3 people to show this system to in depth before releasing it to the general public but that post in particular violates some of the forums rules (Soliciting) so it was taken down, which was totally my own fault.
Since then I have messaged the almighty Pipstradamus to see if I could get an exception made for this. I have not hear anything yet but there is a chance.
Anyway, over the next month I am going to put that together so you guys should have access to a super cool video and course series in about that time and I am excited about it.
This may be delayed a week or so as I now need to find these other 3 initial people elsewhere but I will let you guys know once I start work on it but no big deal.
As always, if anyone has questions I will be around to answer them.
Thanks!
Hi there,
maybe the best way would simply to open your trade history on your MyFxBook account.
For the course I am going to give people detailed breakdowns on how and my I did all my trades. The live trading signals option is not possible at this point I do not believe.
So the website is coming along well. I am going to have a little progress bar there to show anyone interested how far along we are in our current course as well as how far along I am in putting it all together.
Check back soon.
Well…, I were a CD-ROM of this forum before and a new member registered.
And I am a loser , I have it in me to do serious financial damage to my trading account.
I find many methods to do it and I conclude something I doing that may be wrong.
Losing money make me depress, sometimes angry and going crazy…
I now know that I cannot take most swing points in short time frame.
I … ar
My account remains 1145.18
I do not give up to do it but I ar
