Why does it seem more often than not i am on the wrong side of a trade?

[Arbitrager_on_Acid]

It’s like surfin’ bro.

[FOREXunlimited]

Hi Snake,

Come over to the ‘forex price action’ thread. We trade reversals with trend from a retrace/pullback. I find it is one of the safest ways to trade when you employ the strict entry methods taught there. Any monkey (like me) can trade from a key level with trend and make money. But the big difference in being profitable long term is your Risk reward ratio and money management.

For me, RR/MM is the holy grail. e.g. with a risk reward of +3R and -1R on each trade, i only need to win 30% of my trades. e.g. 5 losers, 2 wins, i am making profit. 4 trades a month? You’re in profit. 10 trades a month? You’re in profit. A+ set ups and patience is essential. Set and forget, though many folk like to manage their trades.

We trade daily and 4H time frames mainly, so less stress. The method is simple, uncomplicated, effective, and easy to understand. As with any trading though…simple, but not always easy. Just a thought, as i have struggled in my search over the years too. If you are after something more complicated, there are many other methods out there too.

But no matter what method we use, a simple, clear Trading plan, and a solid consistent risk reward ratio that you are comfortable with is the holy grail as far as i’m concerned.

Good trading, G.

What is an “A+” setup?
How many trades do you average / month?

[mrquickbuy]

ed seykota great trader, very wise man, reading his interview in market wizards i felt like jack schwager might know more about trading than ed but ed really knows how to win.

[gforce1]

What is an “A+” setup?
How many trades do you average / month?

Yo FX Unlimited.

‘A+’ is a figure of speech of course, just meaning the best set up you would trade according to your trading plan.

For me this would mean: e.g. (if trading short) a large pin bar at a swing high (pullback) rejecting a key resistance level, bearish close within previous bar, in a clear downtrend with space to move down, with at least 3RR or more potential. I don’t always find these, but these trades are out there and a goal i aim towards.

I trade around 15 - 20 times per month, but i am working on reducing this frequency to maybe 10 max? with the aim of becoming even more selective (profitable) and spending less time trading, more time living. G

[FOREXunlimited]

Yo FX Unlimited.

‘A+’ is a figure of speech of course, just meaning the best set up you would trade according to your trading plan.

For me this would mean: e.g. (if trading short) a large pin bar at a swing high (pullback) rejecting a key resistance level, bearish close within previous bar, in a clear downtrend with space to move down, with at least 3RR or more potential. I don’t always find these, but these trades are out there and a goal i aim towards.

I trade around 15 - 20 times per month, but i am working on reducing this frequency to maybe 10 max? with the aim of becoming even more selective (profitable) and spending less time trading, more time living. G

Ok- I assumed that was going to be your answer…

Good luck out there.
Jake