Today I published my 100th trade idea. (this excludes educational idea’s)
Here are the quick Stats:
WINS : 49
Flat trades: 8
Cancelled Trades: 29
PIPS Won: 2,560
Pips lost: 515
A 3.5 to 1 win to loss ratio
A 4.97 to 1 win to loss Pip ratio
*Cancelled Trades: these are trades that were cancelled prior to entry. It is important to understand that I only...
CCS Disease is a disease many new traders are afflicted with and it can be fatal!! CCS disease is short for "constantly changing strategies". Certainly, I firmly believe that a trader must find a trading strategy that fits both their personality and the time they have to trade. However, once you find a strategy that you like, imho, you must back test...
In this educational tutorial I cover key areas to help you succeed in your trading. You will see from my shares that I do capture hundreds and sometimes thousands of pips weekly. Please enjoy this and I hope this helps you as you trade the markets. At the end I give you information on how you can obtain free materials to help you learn this skill of forex trading,...
I tried to gather swing(as you can see i set TP to 10% 14ATR D) but in my work day i can't monitor that much.
If you look at my journey i missed a lot of opportunity.
I scalp a little bit with my buffer from this trade.The profit are better than main trade but i can't control risk(This mean when things go wrong i put another position with high exposure to fix that...
so i noticed in my most recent video (as of this post) i failed to mention where i would be wrong on the chart and what i would do then so here it is.
You see here the same chart but now with a red line and a ghost feed. If we get a close below the line I WILL LIQUIDATE ALL POSITIONS and I will take the short on the retest of that line if we see a decent move away...
As the week comes to an end I would like to leave an important lesson on how important it is to look at the higher timeframes.
I've struggled in the past simply because I would not pay attention to the bigger picture and not respect it enough. When you begin to add this to your plan, you give yourself an advantage that most traders do not consider. Most want fast...
BACK TESTING CONT.:
High probability set-ups
To be a consistently good trader, you must trade in a consistent manner.
As those of you who follow me and review my trade idea’s know, they are the same, almost boring. You see Type 1 (Shown above) or Type 2 trades all the time and they look all the same. EXACTLY!!! That is what you need.
If you have taken (either...
Have a Trade Plan
Although most traders figure out pretty early on that they need a trade plan. They don't always know how to formulate it or what should go into it. Although a Trade plan can be go very much in depth, I will discuss what, imho, are the most critical components:
First and foremost, it must fit YOU!! Any trade plan must fit how YOU want to trade...
FIRST HAVE A PLAN.
Better yet, have 2 Plans!
Most traders have a trade plan, that will tell them when to get in and when to get out (or at least it should and I will cover that in the next segment)
What a lot of Trader's don't have and really need, is an account management plan.
An Account Management Plan is necessary to keep you from causing too much damage on...