I just want to start off by telling everyone that this is NOT A SYSTEM and that I am not a teacher… Got it???
Before we start I want you all to forget everything you have heard about trading… Drop all the indicators… and most importantly do not ever follow fundamental or news analysis… because as we all know, if news predicted price moves we would all be full time traders right? If you go to a trading firm or to a trading floor you will never see professionals pouring over news or economic releases… why? Because they know better then to waste their time with meaningless news. FACT!
Now that we got that over with let us move on to what my method of trading is all about… Because I like keeping things simple… I just look at what price has done in the past and because this predicts the future… this is called “price action” trading. This is the only way to trade because as we all know… It just works. As long as you follow price… you have an edge! That simple… do not complicate your mind with anything else because its just silliness…
Now here comes my methodology… because I am a “professional” financial adviser for a living the number one piece of my vast knowledge that I try and bestow upon my exclusive list of clients is RISK MANAGEMENT! What is the number one catch phrase that I can throw at them that will impress them with my financial saviness…? Diversification! That is right… If you can spread your margin across as many positions as possible, no matter HOW CORRELATED ALL THE SEPARATE POSITIONS ARE you will have an edge in this market! just make sure to make the positions are super tiny so you can hold them until they are 1000 pips in profit.
So how big is my basket of open positions? Well I open trades on every single one of the pairs my broker offers… I wish they would offer more then 28 different pairs but that is all I have at the moment so at any given day I have 28 different positions open.
Here comes the cool part! Because I spread the risk out over 28 different pairs… and the position sizes are super small… There is zero possibility of losing money! It does not matter why you enter a position… as long as you follow price action. The trend is you friend. I like holding my trades for a very long time. When I get tired of holding them, oh maybe after I am 1000 pips in profit then I close them. The key is to let winners go on and cut losers short… easy as that!
Just to let you guys know how for real I am… let me post some of my recent results in bold to make them seem impressive… (BUT DONT WORRY… I WILL NEVER POST ANY TRADE EXAMPLES… THAT WOULD BE SILLY)
[B]LIVE RESULTS SINCE 3 MONTHS AGO: 56.87% and 76% FOR THE YEAR[/B]
Any Questions That I Can Answer Vaguely and With No Specific Response?
I have no idea what other thread you are referring to… Just trying to show everyone how simple this is… I only spend 15 minutes a day trading and and am supplementing my overall investment income with this methodology.
Hey Pizza what’s up? We know you…what I don’t get is where did this come from? If true, please brag with a statement with no blacked out swaps or commotion sections
[QUOTE=“GRIX FX;496710”]Hey Pizza what’s up? We know you…what I don’t get is where did this come from? If true, please brag with a statement with no blacked out swaps or commotion sections[/QUOTE]
Quit trying to figure out the macro level drivers behind price movement.
Quit paying attention to global and economic news. Professionals NEVER do…
You will never be able to predict market movement accurately. All of the ph.d economists who went to school for 6 years and who have 20 years of experience know absolutely nothing! They are just trying to trick you… Yes that’s right! Harvard’s entire economics department is based on the very principle that economic predictions are impossible.
So just quit it!
Interest cuts… employment data… inflation numbers… These are all gambling… regardless if you can make money off of them its just all gambling. Quit it!
100 and 200 period moving averages? When was the last time you saw price bounce off of these? Never!! Price absolutely never reacts to the 100 day moving average of a pair… ever. Pull up a chart and see for yourself. You are just making trading complicated using these… Quit it!
While you guys try and figure how to use all your silly tools and decide on making one trade, I have already entered 28 positions on 28 different pairs. Price always goes up
And down… ALWAYS! This is called “price action” and whenever price is moving up I buy… Whenever it is moving down I sell… Takes me five minutes at most to see the direction price is moving in.
There is nothing difficult about this… Just follow price… You are the ones making it difficult on yourselves so just QUIT IT!!!
You mean there is no such a things as “Overbought or Oversold” just price movement?
Oh man, why you didn’t tell me that before… I already have my PhD in [B]D-U-M-B [/B]University. Do you think I can get a refund then?
Btw, this is the most informative and educational thread around here…I would suggest to put a “Sticky” on it.
[QUOTE=“PipNRoll;496840”]You mean there is no such a things as “Overbought or Oversold” just price movement?
Oh man, why you didn’t tell me that before… I already have my PhD in D-U-M-B University. Do you think I can get a refund then?
Btw, this is the most informative and educational thread around here…I would suggest to put a “Sticky” on it.
(I just couldn’t help it…lol)[/QUOTE]
In my half decade of trading experience which has evolved as a byproduct stemming from my extensive knowledge of the financial markets through my self employed financial advisory service… I can definitely tell you that price is price… That’s why it’s called price action… My skills in human psychology proves that “overbought” and “oversold” are myths… Just follow price.
I’m trading using news and its lucrative,the thing is to have a tight “security”.
i see your point… and that’s a good trading strategy. But how do you see the trend…using H4? and what stop loss do you put for your orders before letting them profits grow… thanks.
Ok so why the magic number 28 currency pairs? Why not 56 pairs since you know for sure that it is all about “price action”. Your favorite number I supposed… Oh and the 1000 pip target all the time before you exit out? Why is that?
If this not a system mythology you have works, I don’t need to find a sugar daddy and don’t bother posting here. I will be out the beach soak up the sun! :)… I am just being honest lol
[QUOTE=“minx;496847”]I’m trading using news and its lucrative,the thing is to have a tight “security”.
i see your point… and that’s a good trading strategy. But how do you see the trend…using H4? and what stop loss do you put for your orders before letting them profits grow… thanks.[/QUOTE]
First off you need to clean your mind of news and take the indicators off your charts… Take a step back and monitor all 28 pairs and just follow the price…
Now I already said its impossible to predict price and that’s why I use a basket of positions to diversify and spread my risk. The key to setting stop losses is to CUT LOSING TRADES SHORT and to LET WINNERS RUN LONG…
Because I am using such small position I can hold positions for LONG PERIODS of time and that means I catch every single trend that the markets throw at me. Every trend that you see on the charts I was in and made money off of… Just follow price.
In all seriousness though, diversifying a portfolio outside of trading either stocks, bonds 401k, traditional IRA, Roth IRA, real state is good but I don’t see it will make sense in trading though.
I have looked this method before but it throws me off when opening a 28 positions pairs. I couldn’t keep up with 3 or 4 open pairs let alone 28! The entry is also as important as the exit. What if my tp didn’t hit 1000 pip. What if I was short say 100 pip, do I still hold on to it where if I exit out now while I have it? I can look for another opportunity to enter. I like having control and flexibility with my 1 or 2 position open and not waiting for “something to happen” because you don’t know where that " price "will go against you…Also, I like knowing and familiarize how my favorite pairs react into certain things its like getting to know them not just pick out 28 pairs because I have too without really know most of those pairs are…
If anyone is making money with this method, good for them but it is not for me.
[QUOTE=“PipNRoll;496858”]In all seriousness though, diversifying a portfolio outside of trading either stocks, bonds 401k, traditional IRA, Roth IRA, real state is good but I don’t see it will make sense in trading though.
I have looked this method before but it throws me off when opening a 28 positions pairs. I couldn’t keep up with 3 or 4 open pairs let alone 28! The entry is also as important as the exit. What if my tp didn’t hit 1000 pip. What if I was short say 100 pip, do I still hold on to it where if I exit out now while I have it?.[/QUOTE]
That’s why you just follow price and do what it tells you to do as long as you use small enough positions and are following price… You will win.
Just use support and resistance lines to place your stops and take profits… And give yourself some wriggle room as you adjust the boundaries… This is what Price action is and this is how professionals trade…
Guys I know learning new things can be exciting… Learning new things creates opportunities so it can be really exciting to see how much money we can make, but I just want to tell everyone it’s a bit soon for people to be calling me a “hero” already… Lol I’ve only just started sharing my methodology with you guys. So far I’ve told you that professionals NEVER follow news because the global forex market is not effected by news AT ALL… And it’s madness to try to use news in trading. I have also explained that we need to open a BUNCH of tiny positions and hold them a REALLY LONG TIME… This is called diversification, and it gives you an edge. Lastly, follow price… If its going up then buy… If its going down then sell… Should take only minutes to see where price is going.
I know my results are exciting… But I haven’t confirmed them yet because I want this thread to be about learning and evolving… Not profit chasing… And I want everyone to learn this great methodology. So please guys, just call me Pizza until you have enough profits to buy your Porsche… Then, and only then, you can call me HeroTraderGod.
[QUOTE=“PipNRoll;496870”]All I can say is that… I want what you are drinking right now lol… care to share? Or do I have to wait until the " price" told me so? …silly.[/QUOTE]
It’s been a long time coming mi amigo. My revolution has just begun…
But gosh darn it, I think the time has come for everyone to really start making some money around here.
and don’t bother posting here. I will be out the beach soak up the sun! :)… I am just being honest lol