6-0
Small profit. But gotta run.
I would not be surprised if price returns to 50 ema which would have been another 80 pips.
This is the way.
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I think you are getting it.
But that is not uncommon to start a trade and see price move strongly against you. That is a GOOD thing. The more room it gives you to get back to the emas, the better.
The most efficient way to trade, of course, is to make the first entry at the bottom. We can all get better at that. But with the cost averaging, it doesnāt matter if your first few entries take a loss, as long as all entries together make for a net profit.
This was a common King setup. Almost no chance of losing. There was no SL. If you donāt hit an SL, you donāt lose. Its just a matter of time before you win. Sometimes its a few minutes. Now and then its a few hours.
Ended my trading day at 60 pips.
Have a great day everyone!
Btw - thats now 51 wins in a row.
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Donāt bother joining the premium channel of the KOF on YT. I feel bad saying this, but I was under the impression there was daily live streams and links to an external exclusive members group say on Telegram or Discord. The last daily stream he did was on the 1st February and the exclusive chat that I can see is you can chat when he is doing a live stream. Very disappointing, especially like everyone else on here Iām struggling to fully get my head around his strategy.
Hello, my friend!
Thanks for the info.
I never joined and have never paid for his materials.
I think I have learned all I need to from watching the videos and considering the strategy for a couple of years.
It seems like the live trading he does now is available as a recorded session a few days later on YouTube.
Something to consider
When I say I am down 100 pips on an active trades That usually means I have several open entries. Any of the individual entries could be down say 15 pips. So really, if you think about it, I only have to make up about the 15 pips to break Even. Because I have three or five or six or eight or 10 entries that are all gaining pips when price moves in the right direction. Think of it as price is moving three or six or eight or 10 times faster in the right direction when that happens.
Hey AT, yes you are right about watching his regular YT channel, donāt pay for extra materials. What I would add to this though is, itās more about conquering your own mindset, especially if you have multiple positions all going in the wrong direction at any one time.
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Boy you hit the nail on the head with that post.
Like Euro USD after I closed my last modest win. Iām in the car now, but I saw a big red candle had formed after that. Now I look at that as another great opportunity instead of disaster. I would have tried to find the bottom of that trend and start throwing in more entries. And I would win.
Once again, your eyes light up when you see a big red or green candle. Itās never really going against you. Itās providing the next opportunity.
One more way to look at it.
Sorry about all the posts but it just occurred to me.
You donāt need any trends with kof. On one of my earlier charts from this morning you saw the price sort of hit support and stayed there for several candles and I had the four entries at the bottom. So iwhen price moved up one candle into profit I had created my own trend. That one candle equaled four candles.
Pretty nice, huh?
I canāt help it. One more consideration.
What are we told the market is doing 80% of the time?
Answer, ranging.
That 80% is now open to you and filled with opportunities.
Proof that my last trade would have made it to the 50 EMA and got me that 80 pips. This screenshot is from my phone and these are not my king emaās.
It would actually have been much more than 80 since it went down again before it went up and there would have been additional entries. This probably would have been a 120 to 150 pip trade
Watching his videos, it does take a while to get the gist of what heās doing. Heās using cost averaging to gain control of the trade and to provide a buffer for when the market doesnāt immediately go in his direction. Itās not a popular strategy, but he didnāt invent it. In scalping, āfading the moveā is a similar concept to what KoF is doing. For those struggling with the concept, you can try Googling that to gain some more info.
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Another suggestion that can help grasp the concept is marking your average price on the chart. If your trading platform shows the average price of all your open trades, draw a line on the chart at that level. When you open more trades, update your average price line. Once you see how your subsequent trades affect your average price, youāll be able to visualize whatās happening.
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EUR/GBP?
Big red candle
Gbp/Usd?
3 red candles
Heyā¦ Iāve been following your post and thank you so much for telling us these.
So I tried following KOF methods and followed his MAs. My first few trades were going well (including XAUUSD) but I got stuck for the EURUSD yesterday. I opened quite a number of trades and my TP was at 1.09760. I was using M1 chart and guessed that would be a good TP. It wasnāt affected by news but it went down really low that it blew my account (luckily it was only a demo account though, thought Iāll practice before trying in real). So what was my mistake here? Was my TP too high or I shouldnāt have placed too many trades? It did come back to my TP but by then it was already late and it took almost 12 hours.
12 Hours!
Uuugggggh.
That must have been so painful.
I can only suggest more practice and to trade during London and NY sessions (although Asian is probably good too). The trade I lost a couple of years ago was on a non-major pair in the late NY session and volume dropped to zero. I sat on it for many hours and gave up on it before the London open. I panicked and took the loss.
So I learned.
Donāt do that.
This advice brought to you by a painful lesson and AT. 
I placed the trades during Asian session. The problem with trading during London and NY session is news. They tend to bring an extreme effect to the trades. Even now Iām looking at GBPJPY and my TP is 167.380 but it seems like the chart is going for bearish trend with minimal retracements
Looks promising though.
I find myself using 5M charts most of the time, as I am not yet proficient enough on the 1M.
The 15M for G/J looks good for a comeback.