Candlesticks work all the time, so you can trade the market as you wish.
I have been executing the basic level w/ one entry as you had presumed. I have studied the 2 entry system you teach, however I feel like I am not compensated for my risk if I close out the first position. I feel its best to enter a single position for the “combined” lot (or mini lots) that you would enter and either the trade goes my way; I ride it out; I move my PCI to the break even and capitalize on “both” (in your case) trades or I take the initial PCI s/l hit on both. Again…I’m still testing/figuring out for the max $/risk…much to learn.
You are going to get yourself into trouble here.
Because you are new at this, you are unaware of all the facts.
By eliminating the possibility for a smaller 1st amount profit, you are short circuiting the strategy.
The fact is that over a longer period of time you will actually lose money because 60% of your trades will be losers without the 1st amount profit.
These plans and strategies have been worked out by experts with long experience.
By going off on your own variation, you are flying in the face of proven statistical facts.
In order to make a consistant profit, I encourage you to diligently stick with the 4 levels [U]exactly [/U]as they are given.
The Advanced level is specially designed to allow full trading of both amounts.
Remember, there is a [U]win/loss ratio[/U] and a [U]risk/reward ratio[/U] worked out with each level.
You are destroying these ratios which have been carefully integrated into each level.
Another annoyance is that my stops get hit seemingly effortlessly while my take profits lag after the action crosses them…broker probs? (oanda)
This has got nothing to do with the broker.
You are setting your targets incorrectly.
You must allow for the spread when setting a target line.
For example, suppose a spread is 3 pips.
Then for short you allow for an extra 3 pips going down before the target is filled.
And for long, you set your target 3 pips higher.
Can you touch on your money management system?
…
On this plan, $1000 initial investment becomes six figures + in a decent time frame.
Based on your experience, knowledge, and skill, I would presume you are a wealthy man.
Are my assumptions and expectations of this goal too aggressive and unrealistic?
Yes your goal is extremely unrealistic.
In fact, you are dreaming.
With a 60% negative expectation you have simply failed to add in the losing trades.
[U]Forget your excel file[/U] - I have seen this many times before.
It is more accurately called a dreamers file.
Further more, for a $1000 initial investment, you need to be trading micro lots.
If you manage to break even with your losses and profits in the first year, you are doing extremely well.
Finally, as to being weathy, I do not disclose my income.
I can only say that my brother, who remains unidentified, is a multi-millionare.
He trades like I do, but he is more experienced than I am.
[B]In summary, I would submit to you this…
If you wish to be successful, start with the Basic level and follow it to the letter.
As your competancy increases, you can go up in levels.
Study the examples I give carefully, they are properly traded.[/B]
