[QUOTE=“minx;496847”] what stop loss do you put for your orders before letting them profits grow… thanks.[/QUOTE]
My use of stoploss is unorthodox and requires explanation. It varies in size.
I will explain in a future post as I continue to outline this methodology.
Guys… I’ve been thinking really deeply about price action recently and I’ve had a really important epiphany regarding price action … Despite the fact that all we have to do is follow price, sometimes it’s better to wait and miss out on some profits then to just enter the trade… Either you have an opportunity cost or you could lose pips (even that’s impossible if you are just following price)… And I find it mentally easier to just do nothing sometimes.
Remember guys… Just open a bunch of tiny correlated positions and hold them till you win. This is called diversification.
[QUOTE=“ILovePizzaMore;496868”]…So please guys, just call me Pizza until you have enough profits to buy your Porsche… [/QUOTE]
Oh come on!!! Porsche really!!!
Go big or go home.
FERRARI!!!..because life’s to short to drive a Porsche
[QUOTE=“mizugami7523;497580”]
Oh come on!!! Porsche really!!!
Go big or go home.
FERRARI!!!..because life’s to short to drive a Porsche[/QUOTE]
My Porsche thinks your Ferrari is adorable…
Love it PipNRoll! And that side comb over…just saying…
You wonder why those super heroes wear tight pants …And what’s up with the cape? Birds don’t wear cape. They have wings to fly! The designer of those custom must be gay … Just saying
So you think clothing defines sexuality? interesting… Superman doesn’t wear his underwear on the outside any more anyway. The costume was changed years ago.
Who gets to make a mock 25K account now and connect it to fxbook too?!
[QUOTE=“konan;497663”]Who gets to make a mock 25K account now and connect it to fxbook too?![/QUOTE]
I was expecting you to do that…
I actually like that account. Have to wait and see if it works for medisoft and then actually think about adopting it for myself too.
[QUOTE=“konan;497691”]
I actually like that account. Have to wait and see if it works for medisoft and then actually think about adopting it for myself too.[/QUOTE]
You should! You shouldn’t even wait, you should do it now… There is no possible way you will lose money as long as you ignore the news and just buy when price is going up and sell when price is going down. Oh and don’t forget the most important part, open a ton of tiny positions and hold them until you have 1000s of pips in profit. Just cut losers short and let winners run…
Who says I would ignore the news…Mind the calendar + PA + s/r and fibo!That’s all ya need really, as far as deciding where price might go. For instance, I got no clue why the Euro is rising right now except that prick Draghi is shooting his mouth off and if I had a sell order on fiber I would damn well be hedging it right now too…But I’m not coz I’m waiting for the NFP to blow over. Only people with insider info knew this Euro move right here
[QUOTE=“konan;497814”]Who says I would ignore the news…Mind the calendar + PA + s/r and fibo!That’s all ya need really, as far as deciding where price might go. For instance, I got no clue why the Euro is rising right now except that prick Draghi is shooting his mouth off and if I had a sell order on fiber I would damn well be hedging it right now too…But I’m not coz I’m waiting for the NFP to blow over. Only people with insider info knew this Euro move right here[/QUOTE]
Just forget the news… Professionals don’t look at news! It’s irrelevant.Just follow price dude! Just go with the trend…
Also, I think you’re going to need to change your perspective on risk management. Dramatically. You should see people’s eyes pip out as they start counting dollar signs when I say I closed my last trade for 900+ pips in profit. But they aren’t realizing that a pip is just a unit of measurement for price movement. It does not tell how much profit I actually made.
How much is 900 pips worth? What effect would it do to your account? Well for me since I’m using such TINY positions 900 pips is worth as much to me as 30 pips is to anyone else… It just takes me a heck if a lot longer to win… Because I don’t like making money… I just like making pips and staring at my pips made instead of profit.
Roughly 1000 pips is about 10% of my account. Therefore 100 pips would be about 1 percent and 10 pips would be .1%. Again… TINY positions sizes that take months to make any meaningful change to my account size…
I don’t really use TPs or SLs because I just follow price and I will wait a really long time, however long is necessary to win… Just cut losers short and let winners run long!
At this point you probably have questions… Or more then likely have compliments you want to give me…Feel free to fire away!
[QUOTE=“ILovePizzaMore;497831”]
Just forget the news… Professionals don’t look at news! It’s irrelevant.Just follow price dude! Just go with the trend…
Also, I think you’re going to need to change your perspective on risk management. Dramatically. You should see people’s eyes pip out as they start counting dollar signs when I say I closed my last trade for 900+ pips in profit. But they aren’t realizing that a pip is just a unit of measurement for price movement. It does not tell how much profit I actually made.
How much is 900 pips worth? What effect would it do to your account? Well for me since I’m using such TINY positions 900 pips is worth as much to me as 30 pips is to anyone else… It just takes me a heck if a lot longer to win… Because I don’t like making money… I just like making pips and staring at my pips made instead of profit.
Roughly 1000 pips is about 10% of my account. Therefore 100 pips would be about 1 percent and 10 pips would be .1%. Again… TINY positions sizes that take months to make any meaningful change to my account size…
I don’t really use TPs or SLs because I just follow price and I will wait a really long time, however long is necessary to win… Just cut losers short and let winners run long!
At this point you probably have questions… Or more then likely have compliments you want to give me…Feel free to fire away![/QUOTE]
Chuckle)))))
You should talk with an honest broker or two and let them tell you the percentage of scalper traders that actually come on top, Pizza. Just do it coz you’re just wasting your time fluffing your feathers here m8. Only the 90 to 95% jobers would find this amusing, not because it’s a lousy try at cynical humor, but because it has to be true in order to be funny. You see what I mean…
[QUOTE=“konan;497854”]You should talk with an honest broker or two and let them tell you the percentage of scalper traders that actually come on top, Pizza. Just do it coz you’re just wasting your time fluffing your feathers here m8. Only the 90 to 95% jobers would find this amusing, not because it’s a lousy try at cynical humor, but because it has to be true in order to be funny. You see what I mean…[/QUOTE]
I totally agree that anyone who isn’t using TINY positions and not holding them for months to gain a few percentages on their account are crazy… Those noobs who try using news to figure out why price is moving and where it is going with a great degree of accuracy are wasting their time… As I already stated… Walk into any trading floor and you will NEVER see any of the professionals pouring over news feeds and economic data… I agree 100% that opening 28 highly Correlated positions is a great way to diversify… I’m glad you find such value in my methodology Konan… Welcome aboard!
You’re a lost case buddy. And I’m relating this to all your views on life, from religion, to politics to trading…You just have a hard time seeing the whole picture.
[QUOTE=“konan;497861”]You’re a lost case buddy. And I’m relating this to all your views on life, from religion, to politics to trading…You just have a hard time seeing the whole picture.[/QUOTE]
I’m still hoping you will post your analysis and trades on this thread for several days… I know this may seem like a weird “buy and hold” method with a bit of random entry thrown in… But I’m sure you will NOT quit posting after a few days when you realize how easy it is to just follow price… Buy when price is going up… Sell when it’s going down. This is called “price action”. 1000 pip moves are so common and are very easy to catch with this methodology… And even better these moves are entirely independent from news events, they occur because price decides it tired staying in the same range and it wants see some new territory… So this is why we just study price and nothing else.
Remember… I’m not a guru… Just stop making it complicated Konan… Just stop. The trend is your friend.
I still have more to explain regarding my methodology people… Stay tuned!
There’s a chart on your thread that I posted some days ago regarding audusd…
The price “always” comes back!
Trust me, you’re really not making fun of MG99 this way. It’s silly what you’re doing.
[QUOTE=“konan;497866”]
There’s a chart on your thread that I posted some days ago regarding audusd…
The price “always” comes back!
Trust me, you’re really not making fun of MG99 this way. It’s silly what you’re doing. Fcken trust me lol![/QUOTE]
Who is MG99…?
That chart wasn’t true to this methodology Konan… It is essential that you posts charts and analysis for at least 28 pairs as opening a bunch of CORRELATED positions to DIVERSIFY is the cornerstone of this methodology… This should only take you a few minutes so I am looking forward to you posting your trades on all these pairs!
Cool!
