Thread: Consistent trading

Hello All,

This thread is going to be my trading journal where I'll record all trades win or loose. I have to do so for myself. A workout, to keep myself honest and consistent. I'll only trade one method and one price pattern. That is it!

The way I'll follow can be found here - https://www.forexforum.co.za/cryptoc...te-indior.html

I would like to thank 60 MM because of his perspectives and sharing his way with us.

There are a number of small variations to the method. The modifiions include:

Timeframe - Daily Only
R:R - No set rr. I will follow the trades and shut according to my discretion. If I see market stalling, or potentially shing direction, I'll transfer my stops.
This is based on my expertise in the markets within last five decades. Yes, I'll make errors. Yes, I'll have loosing trades because of the, however this is something I am likely to improve on as I move along.
Pattern - Engulfing only (Close above open for extended and vice versa for short)
Market - EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, NZD/USD, SP500 and Gold only.
Money Management - I'll only open 2 miniature contracts each market. Why not a couple of %? I am not sure, again something which I will work on.

All the best,

PIPMobile

Originally Posted by ;

Hello
Care to talk:
How long you've exchanged with Daily engulfing?
What is the winning rate?

Just how long? Now that's a fantastic question. Watch, in my search to get the grail, I've dropped this a couple times but keep coming back to as this is the only one that keeps adding funds for my account. Cut long story short, I've traded this method for quite a while now and the win rate is approx 60% .

However, the evidence is in the pudding, as they state. Engulfing bar is a technique to enter. Trade direction is the key here.

The main aim is to always increase the account over time.

So, thanks to your query. Feel free to drop by anytime.

Cheers!

Hello PipMobile - I also follow 60MM's system and have been tweaking to fit my style. Have tinkered with the Daily time frame but am mainly H4 a bit of H1 when time permits. Will follow with interest to see what's been added or altered to make the Daily work for you. Good on you for starting this.
dmost

Good Luck PipMobile

60 is teaching how to do it directly IMHO....

Cheers,

Bluesteele

Originally Posted by ;

Hi - I follow 60MM's system and have been tweaking to match my style. Have tinkered with the Daily time period but am H4 a bit of H1 when time permits. Will follow to see what's been added or changed to create the Daily work for you. Good on you.
Dmost

Thank you dmost. Feel free to drop by anytime.

Originally Posted by ;

Good Luck

60 is instructing how to do it right IMHO....

Cheers,

Bluesteele

Hi Bluesteele,

Really. I don't dispute that. The journal is here to record my experiences during this journey towards consistency. I am open to altering the transaction management side of things, however, entries are not negotiable. Best Wishes, Pip.

Following along with attention as well Pip like I have been after 60mm. He has some great things happening here. Fantastic luck and decent trading!

When I began trading about 5 years back, I had no clue what I was doing. Buy and hold was the game then. I know I had been silly. Subsequently came the GFC, Oh boy, did that shake me.

Now I look at the past and see a Fantastic chance which went beyond me.

I learnt a lot from that big wild move, which drove a lot of people around the world in a tizzy. The experience was humbling. Was that only sentiments which wiped out billions of dollars out of the markets?!

Anyways, I went through a learning process to edue myself on how the markets move, the patterns, waves etc. etc..

I came back with all the advice (armed to my own teeth), and attempted it again. I had been winning! Obviously I had been doing some thing right. Then I improved my method, and some more, and I began to loose.

Hang on a second, that is not right, this ought to work. Why doesn't the method work, I've improved it right? So here we go, slapping one indior after another, chopping and changing and shing some more.

Input, no input here, this is a better/low risk entry and no!! , I am loosing. This is not right, not possible.

I gave up after the ups and downs of the struggle with myself.

And I realised something - if trading has been this hard, the men at the pit has to be bloody superman!!

Trading doesn't need to be hard. The fella in the pit has sub second to compose his mind and take the transaction.

Hell, what do I know about pit, however I know about trading today!!

Originally Posted by ;

After along with attention too Pip as I've been following 60mm. He's got some excellent stuff happening here. Great luck and great trading!

Welcome SMcGuire. I concur, 60mm does have stuff going on his ribbon.

Good Luck with this pip I will be watching with fantastic intrest. .