This strategy printed $$$ this morning. Very simple, very effective. Will be utilizing in the New Year.
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My wife is going to hate it but when we go on our next driving vacation this coming summer, which will be a thousand miles each way in the car, I will set up a long day trade at a good signal and let it run for a while until she sees 500 or more dollars in there and on the way back Iāll try and finish paying off the vacation. Expenses on the vacation will be fairly minimal as weāre just going to a friendās home on the Texas Gulf coast. She will love me when we get home.
Hereās a little personal info Iām sharing. My wife comes from the financial and investment industry. Helping people retire with conservative investment strategy for the long run. When her and I agreed we would put 10,000 into a forex account because our home value had increased so much we refinanced and took a little cash out. I let her get new kitchen countertops she let me have the $10,000 to trade with. In the first year and a half my balance was down to 5600. Even though there were times during that year and a half when I thought I had it all figured out and there were some nice wins. I got careless. Thought I could do anything. Then I started getting more successful by not giving up on trades on the hour and 4-Hour charts and adding to what appear to be losing positions when price hit support. But still, there was losing maybe 30 or 40% of the time. Good in the long run but not good for my confidence and not something I can count on because forex account is to generate consistent monthly income.
Anyway, so my wife has written off the account and considers it gambling. Since she does not have access to the account, there was a time when I wanted to teach her how to trade so that she could use the account and take money out whenever she wanted. But she has written off the money. She considers it gone and if I discuss the account at all her eyes glaze over.
So she doesnāt know now and she wonāt know for several months yet because Iām not going to bring it up. But she is possessing a far far superior intelligence than me and I know she would absolutely kill it as a trader. Iād love nothing better than for her to open her own account. But weāll have to see what the future holds.
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Hi Vaczak.
How do we get access to the script you mentioned? Thanks for putting it on tradingview.
Picked up 15 pips on the last buy signal. Over 30 pips up from my entry.
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YES! Itās so strange to know that trading was this easy when I was losing all that money.
Market flattening out a bit. But fantastic signals today. Iām a little annoyed I had to go to work.
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On tradingview click down on Pine Editor, Open, Create new indicator, paste the hole code, save, after add it to chart. You can after change all the colors as you wish and other parameters also.
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I just canāt wait to see it working next year, it was a nice day indeed.
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Agreed, looking forward to next week! Will continue to provide feedback here.
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Welcome back to posting!
I tried reading a book of his. Tough read. Maybe I will get back on that.
I took a long review of charts and I think for scalping I will be incorporating more of the diagonal trend lines for exits. It will be a channel within a channel, for which there is a great free indicator. Still going to place SL based on long EMA though. I see very few instances where I would not have earned about the same number of pips by using those trend lines
When I move toward using the PSAR settings for longer trades, I will be using the PSAR points for larger SLs.
Should we decide to add the Next Move free indicator to provide both S & R zones and the diagonal range channel lines? It looks like it could help beginners filter out poorer signals and focus on making trades only in the overall trend direction. This chart shows it with a 100 candle lookback.
Wow it must take a lot to keep going especially with all the pressure, but youāre putting in the work and I wish you all the best in growing your account past 10kā¦and Iām sure once your wife sees the results sheāll consider trying at leastā¦Iāve come to realize itās the small wins that really matter and as long as we keep our desire to learn more about the markets we will get to achieve whatās sought out by all traders and we essentially will be printing moneyā¦The hope for me is very much alive and I hope to spread it to everyone I meet whether in the trading world or elsewhereā¦Good luck to you and to everyone else!!
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Thanks Sammy.
I have a devious and underhanded plan.
She thinks she should continue working for another 3 years. I will show her a snapshot of 30 days of my trade result and how she doesnāt ever need to worry about big losses. Offer that she could retire two years sooner even if she just wanted to trade either the London open for 1 hour or from 9 until 11am each day she could make more than she does now. Weāve got over $150,000 in cash sitting outside the stock market (because why have it in the stock market these days). We could open her account any time.
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Sounds pretty solid! An offer like that is hard to passā¦why win alone when both of you can do it. All the best AT.
Yeah the trend lines are importantā¦significant price levels will be noticed, setting stops and targets will be easierā¦so it should def be included.
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