The £10K Gamble - [The Journey]

Thank you Sir :+1:

Awesome dude. may i ask what indicator you are using?

@SunaruTrader, what do you do on the 4HR you look for obvious supply and demand? More like support resistant and dive in right?? Sorry for the dumb question bro… is there any further confirmations??

I don’t look at S&R nor supply and demand. The Baller laid it out in this thread (post 63 I think) if you are a beginner. Use the 4hr chart and the chikou span cross of the cloud That’s it. Some things I do are because I have 10 years experience in trading, so I can’t show anyone those things since they are what I see from experience. But even those things are minor. Set up the chart as he says and make money. That’s it. I know that you want me to impart upon you some secret, but I can’t. You just need to practice trading.

Right now the market is what it is. It’s gone tits up.

Things that were plodding along in a nice trend flipped upside down and started going the other way.

Right now TA is risky.

Personally the trades I’m still in, I’m still in. It’s not for everyone, you can expect DD to increase as some trades go against you harder than normal.

Some trades I have hedged and gone the other way and made some nice cash.

The wide SL style might not even work in some of these situations, because of what’s going on, nothing is going to respect TA.

You have to either sit back and not be a part of this, or adapt and take the risks.

There are some people that feel they must trade, they might not have a job, this might be their only source of income.

If this is not you, there is no pressure to trade at this point in time, unless you have a strategy that can navigate times like this.

I’m living in the present, taking each day as it comes and learning as I go along.

I’m willing to take risks, try new things and see what happens.

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I trade the H4 chart too and I’d love to know what your secret is. Got hit by 286.5 pips last week on the USD/CHF where I went into a trade just above 95.00 expecting price to drop as it was on a downward trend. As it turned out 95.00 became a support point, by the end of the week price was around six pips shy of 98.00. Would be interested to know what you would have done. Below is a screen shot of the chart, pointing at where my entry was:

At the point that you indicate that you entered the trade the lagging indicator (26 periods prior) was rising and the sep A at the top of the cloud was also rising so I would have been cautious.

@aalim79 in my own opinion, I would have suggested you held the trade and get out at breakeven atleast if your stop loss was 500-1000 pips… and if you had considered the bigger picture of the market you would have known if it’s a safe trade or not, @The_Baller, hope I’m making any sense… I’m still a newbie learning everyday though I have a small live account

On the same principle as the Baller’s trading technique there is some good money to be made on shares, Indices and commodities.

I made some good profits looking at stocks that were solid and doing well before Covid and entered last week. They might be long term holds but with a good diserfication when this is all behind us I should make a good profit.

Your trader might not let you bet on shares, I’m with IG and I can.

For commodities I made profit on Crude oil and Oranje Juice. Exited Oranje Juice in time but I believe there is an other buy opportunity in the next few days.

If you take that route I would advise on paying a premium for Guaranteed Stops on some of them.

With Oanda I can’t afford to trade indices- the minimum contract size is too big for my size account. Are you trading bigger, or do you have a broker that allows fractional trading of indexes?

This is my problem too. Any broker recommendations for fractional orders, anyone?

How small are you guys looking? I can take very small contract sizes on the IG MT4 account.
Can’t share links as new user unfortunately. :frowning:

To be fair I have not been using indices that much. A friend of mine is doing really well on them, but for the moment I’m focused on shares and commodities. Still a bit of forex. Nice to learn to trade new sectors.

Been watching this Thread since October, well…amazing…

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@The_Baller Thanks for the info, as a newbie I’m going to give your methodology a whirl.
My head’s been hurting with learning technical analysis and I’ve managed to break-even over the last 3 weeks on a demo account by trading the trend and looking for bounces.
Time to try something simpler I think. :+1:

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Wow, epic thread! Finally managed to read it all, phew.

So, to those of you who have been trailing this; how are you getting on?

I did alright last week (£900 @ 1 lot), but I’m getting hammered this week (-£2.5k @ 1 lot).

NB: The figures above are for reference only. I have only been trading 0.01 lots up until this point.

One trade went against me hard and fast on Monday, and I’m struggling to recover from it.

Close to break even ~3hrs ago due to a freak event, but failed to take profit and now it’s reversed.

Interested to know how my fellow traders are fairing in these crazy markets.

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Thanks for asking sir, we are doing great btw…

For newbies, its always been the markets fault when they acquired a loss.

Its always somebody’s fault and there is always something (other than themselves) to be blamed for their ignorant trading results.

For me, whenever I see reds, I will look at the chart. I give it a smile and I do a slow clap while telling to the screen “you got me!”

Can the market still get me tomorrow? Or the next day? Or the next? And so on?

This is the reality of trading, and a consistently profitable trader must face it everyday over and over and over again.

You only do what the market tells you to do.

The market will never give a damn about what you want.

If you’re telling to the market what it should do and expect the market to do so, then you are totally wrong.

In fact, mother market will reach deep down into these kind of peoples pockets and take whatever they could afford without giving a s*** and not returning a single penny of it.

The market will slap you in the face.

This is trading.

Good luck.

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I’m sorry boss, I just have to say this,

You are a f*****g winner.

You are literally exposing the secrets to trading word by word yet most people still don’t see it.

It took some time for me to digest your methods but at last I’m so grateful I’m there.

Thank you… :partying_face:

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No problem at all.

Nice to see someone from Leicester!

Slow month this month but paying the bills.

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