My Trading Secrets Revealed
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Thread: My Trading Secrets Revealed

  1. #1
    Been trading now for many years and have tried trading off all time frames but have finally found the secret of making real money trading the FX markets. This little journal will record my trip of success (or failure) to all who would care to discuss it. I will only post when the mood takes me and when I have the time so if anyone is interested return.

  2. #2
    So with no additional ado here is the number one element of this holy grail.

    Surviving the long losing streak when it happens. (Sorry to all you guys that are anxiously waiting for my system. I will reveal it soon)

    I did state when it happens - maybe not if.

    So cash management is the first secret.

    You have a $10,000 account. You risk 2 percent.

    That's $200 per trade. Meaning if your stop loss is hit you lose $200

    Disaster! You lose. Your bank now stands at $9,800. Your new risk is now $196

    OR you win. Lest state you win $600. Your bank now stands 10600 Your new risk is now $212

    Thus when you reach your losing streak your stake size progressively decreases- you live

    But when you hit a winning streak? You thrive.

  3. #3

  4. #4
    The following component of this holy grail?

    You have to be there to win.

    What do I mean by that?

    That you do not know if your system will produce a winner or a loser.

    In case your system trades off a 1 minute chart between the hours of 9. am until 1. Pm you must be there, watching to your entrance signal, from 9. Am - 1. pm. You'll need a suitably sized jar to piss in because you aren't going to have enough time to go to the rest area!

    Why? Since if you are not able to give your system your undivided attention. In case you have distractions that take you away from your monitor, I will guarantee that you will be present for your losers and overlook the winners. You may lose your edge.

    So be honest with yourself. Choose a time period to exchange off where you're able to provide your analysis 100% of your focus. Personally, I trade off end daily charts because I am lazy and want to spend my evening doing things that I enjoy.

  5. #5
    I'm still here,dude
    while smoking
    it Is bad for my health

  6. #6
    This is my last entry today. Other things to do.

    The next component of the holy grail

    Make you stop reduction in the ideal place

    I expect everybody agrees that stop losses are crucial to protect your assets.

    Individuals who say they do not use stop losses are kidding themselves. Their stop loss is the margin call from their broker or the bailiff banging on the door.

    Yet stop losses have to be used responsibly. Among the principal enemies of effective trading is putting stop losses too close and getting bounced from winning trades by the stop hunters or with a news release that briefly moves the market.

    The best advice I can give would be to place your stop loss at a level in which you know your egy has failed according to the rules of your own body. I shall expand on this further in a future posting.

    I also HATE automatically trailing stops. Trailing stops are a device invented by brokers for you from winning trades. You use them in case you are scared that the'paper profits' in your display could be deciphered. Sometimes they may get you from a trade that turns against you but more frequently they will bounce you from a potentially highly profitable trade by a temporary retrace. I am not saying you should not move you ceases to lock in profit but transfer them intelligently and well away from market noise.

  7. #7
    You've got interesting aspects here . Count me in

  8. #8

  9. #9
    Hi gautama,
    I hope you can describe the (smart or right) manner with more details to place the stop loss.
    Thank you.

    Quote Originally Posted by ;
    This is my final entry today. Things to do.

    The third component of the holy grail

    Make you stop loss in the ideal place

    I expect everyone agrees that stop losses are crucial to secure your assets.

    Individuals who say they don't use stop losses are kidding themselves. Their stop loss is that the margin call from their broker or the bailiff.

    Nevertheless stop losses must be used responsibly. Among the principal enemies of successful trading is placing stop losses too close and getting bounced out of winning trades...
    PS: In your topic is missing a single L

  10. #10
    I exchange the end of day charts and I am a trend trader i.e. I exchange with the trend.

    I have looked at trading the decrease time frames however I find them watching a computer screen for hours on end bores me shitless.

    When I talk about stop loss positioning I'm talking to the greater time frames. My egy is to look for a pair that is trending and await price to make a significant counter-trend move. When my machine indies that price has resumed from the direction of the primary trend I input the market.

    Incorrect stop loss positioning, moving quits too soon and proceeding stops too close to obvious levels are trade killers.

    I know many experienced traders that repeat the mantra never allow a winning trade become a losing one. I take the contrary view, unless you are ready to maintain your stops in a decent distance, (which can mean allowing'winning' trades become'winners', or lending pips back into the market),you risk choking out the'long runners' until they begin. And that is what I am looking for, the runner that is lengthy. Sure, occasionally I'll be stopped out for reductions however when I get a runner I want to let it breathe. To give it every chance. Not to

    So my first stop loss is going to be put below/above my predicted swing low/high.

    If price moves in my favour I extend from shing my ceases until the transfer is well recognized. More about this later but I won't move my stop to break even before I am sure it's not in range of regular market moves -and well away from where the herd will place their stops- in which the predators hunt.

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