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Trading is this Simple? Finally Explained simple and clearly! 46 replies

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More simple is impossible

Quoting LiboCop
{quote} also at low volatility I look at the minute graph or enter directly for the possibility of a tight SL I'm not a good example for RR. Personally, I think that a lot depends on what is happening in the market, sometimes it can work perfectly and sometimes you will have a huge loss, so I always try to adapt somehow and therefore I use min. 2 positions (learned by Lance Beggs). If the market is one-way, I sometimes make a pyramid and add to position, but I'm still learning, it's very risky on Dax. I try to make the...
Right it mainly comes down to market conditions, i thought you would say that i kinda thought that too, sometimes it makes sense to have a tighter stop loss sometimes you need a bigger SL.
well i tested out my little idea tonight it went pretty well 1 loss and 1 win with a 5 pip SL, 20 pip win so that means theoretically i am up 3:1 interesting.

i came across an interesting quote "to hell with my ego! making money is more important!"-Martin Schwartz

Ive been thinking about this because i feel like my desire to win more then i lose is ironically holding me back from true success in trading.
i cut my winners way too short, there have been many trades i have taken that went up 60+pips and i only kept 20 pips or so
but at the same time when you try to hold trades longer obviously your going to get stopped more and and that sucks emotionally.
ive been reading a lot of books and most statistics show that most profitable traders have 40-50% accuracy and higher RR.
anyways i am just thinking out loud.

Thanks for all your help Libocop and i hope you have a Great weekend
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  • Post #10,362
  • Quote
  • Edited May 9, 2022 8:15am May 8, 2022 1:04pm | Edited May 9, 2022 8:15am
Quoting Sojourn
{quote} ........here have been many trades i have taken that went up 60+pips and i only kept 20 pips ......{image}
The 2nd trade was absolutely perfect!



There are also a lot of trades when you wouldn't have anything if you didn't take 20. Profit is important! After a good momentum begins, yes, it is then possible to focus on a longer trades.

I was almost in the same trade and I also closed earlier, there was a touch of TL, W-1%, and daily support. Take note of some my past trades where I didn't take those 20 and lost them
As we said, mainly focus on good TREND inputs, SL, profit target and analyse errors. The others will appear. I might add that I don't know if the long divergence from night data (GMT or ECT) at 1st trade is quite ok. I don't have anything to enter BRN, I do that too, there is usually at least a small reaction. But for now, I don't recommend it for you yet.

Pls Matmomo correct me if I'm wrong.

PS: I allowed myself to draw an important TL and Div in your picture
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Don't think!
Quoting LiboCop
{quote} The 2nd trade was absolutely perfect! There are also a lot of trades when you wouldn't have anything if you didn't take 20. Profit is important! After a good momentum begins, yes, it is then possible to focus on a longer trades. I was almost in the same trade and I also closed earlier, there was a touch of TL, W-1%, and daily support. Take note of some my past trades where I didn't take those 20 and lost them As we said, mainly focus on good TREND inputs, SL, profit target and analyse errors. The others will appear. I...
Thanks for the words of encouragement! yeah I agree that buy trade was pushing it. i will experiment more with TLs they are a good confluence for sure,
what are % levels?
and i agree its important to take profits, i think this approach really shines when you have greater volume of trades where you can really capitalize on good market conditions when they are there, tonight was sort of a night where i tried to do that like how you and matmomo do it.
i think my approach was right but my execution was terrible.
this session was a mess for me, i accidentally took a trade at the beginning that was just a small loss but put me in a bad mood.
i traded far more aggressively then i normally do and took some downright terrible trades, but with that being said i still managed my positions pretty well and ironically ended up with a winning night. 7 trades: -5, -5, -10, BE, +30,-20, +28,+16 rough estimates all in all up 39 pips
terrible technique but good management of positions i guess.
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Quoting Sojourn
{quote} what are % levels? ...... {image}
yes well managed .
This is percentage change in regular trading hours (RTH) 9am-17:30pm (CET) Edit2: as here. Edit1: if you are more interested, I can share it, but only I use it here for a confluence of information.
I also add my Monday trades for comparison.
After LO I avoided long entries, which later turned out to be the right thing to do, even though I was a little nervous about it at the beginning.
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Don't think!
and today's

....note yesterday's behaviour at 13,700 and today's behaviour at 13,600, we are still in a downtrend
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Don't think!
Quoting LiboCop
and today's ....note yesterday's behaviour at 13,700 and today's behaviour at 13,600, we are still in a downtrend {image}
Masterful trading as always bro, really impressive and in just an hour or 2 of trading a session. Thats what i want to be doing.


How much of your account do you risk per trade?
also what do you use to split your position into 2 like that? do you just do it manually or do you use some Trade manager type thing?

I only took 2 trades last night -15, +23 i was not feeling very well last night but i marked down all the areas i saw good potential trades
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Quoting Sojourn
{quote} ... just an hour or 2 of trading a session. ..... How much of your account do you risk per trade? ......split your position ..... or do you use some Trade manager type thing? .........I only took 2 trades last night -15, +23 --- i marked down all the areas i saw good potential trades {image}
Thank you, I'm very happy when I'm done in one hour. It's also my idea of how I want to do it. But then I look at the markets anyway, but I do other things as well.

It's a maximum of 1% my daily goal is 3-5%, if it doesn't work I finish earlier, exceptionally longer.

Yes manually 2, as a helper for SL 20, tagrets 50 (then I move or cut them) and BE +1 @ 8-10 I have a Milanese APTM with a BE button. TMtools is not bad for PO. You can find both here in the forum and with the settings (tune in to your demo account!). Edit: or is no problem to share them.

Yes, yes well done, keep going, look for them also in the current trades, learning is the key! In both trades you have a hidden div + bounce from Ema. In my opinion, the second one also applies, because for the 2nd and 4th wave the correction is ABC. Attached is what I mean
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Don't think!
Quoting LiboCop
{quote} Thank you, I'm very happy when I'm done in one hour. It's also my idea of how I want to do it. But then I look at the markets anyway, but I do other things as well. It's a maximum of 1% my daily goal is 3-5%, if it doesn't work I finish earlier, exceptionally longer. Yes manually 2, as a helper for SL 20, tagrets 50 (then I move or cut them) and BE +1 @ 8-10 I have a Milanese APTM with a BE button. TMtools is not bad for PO. You can find both here in the forum and with the settings (tune in to your demo account!). Edit: or is no problem...

Thanks a lot libocop, i really learn a lot from all these charts you post and annotate, i will look into abc 123 patterns more it was always a bit challenging for me to spot them.
i believe i have that TM thanks for sharing i was just curious how you manage positions i agree i think its easiest to just manually do it, more reliable.
thats exactly what i am aiming for as well as far as risk per trade, i want to get funding from ftmo that is my main goal, i have taken there 100k challenge 2x already but i got a reset on both tries lol, i will get it though.

first trade was solid i think divergence+dbl bottom+ema
tonight i think the 10pip charts late entries kind of screwed me, i got the direction right on the second buy but my entry was too late so i got taken out by volatility
the 3rd trade looked like a nice setup kind of because the doji on the emas but i was trading against the stochs+macd
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So last night i decided to use the 5 pip exclusively and it was great!
I see why you use it more libocop, when i was trading just off the 5 idk it felt more "fluid" more "natural"
and since you are entering early its easier to capitalize on the moment to moment momentum around key levels,
also the stochs are way more clear to read for me, its much more obvious when the market is over extended.

6 trades and i immediately saw my mistake and closed my positions on the 2 losers
I left a ton of profit on the table, partly because i am so accustomed to using the 10pip my depth perception was a bit off. what looks like 20 pips on the 10 pip chart is only 10 on the 5 pip chart lol.
I moved to BE too quickly on that nice sell and also could have held my trades for way longer, perhaps i will try your approach of using 2 positions libocop.

+20, BE,-2,+13,BE,+13,BE,+11 all in all 45ish pips
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Quoting Sojourn
So last night i decided to use the 5 pip exclusively and it was great! ....
Yes, why not, it's the trader's preference.

For comparison, I added my chart, it's nice as they are starting to get similar.
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Don't think!
and today's trades. I had little time. I missed the first entry, then a bounce from TL, LO and BRN. Everything worked out in 3 trades and a few minutes, ideal.

Have a nice weekend!



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Don't think!
Quoting LiboCop
and today's trades. I had little time. I missed the first entry, then a bounce from TL, LO and BRN. Everything worked out in 3 trades and a few minutes, ideal. Have a nice weekend! {image}
Amazing trading as always libo, really nice.

I took way too many trades last night, and got a bit flustered, i am not too bent out of shape about it i will make it back, I was just being too impatient.
There was some clearly good trades that i took but i also took many bad trades
i think i was fighting the trend when i should not have been

Hope you had a good weekend
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GM, still the same
win, loss, win
Sum=+64
...only longs
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Don't think!
mission completed
short, than longs

CU
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Don't think!
gm, these days are too, better stop today, tomorrow is also a day.
Sum= -4,5 points

Good article about it HERE



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Don't think!
Quoting LiboCop
gm, these days are too, better stop today, tomorrow is also a day. Sum= -4,5 points Good article about it HERE {image}
Great article libo, my trades yesterday were very similar to yours, i also had a bit of a rough time and decided to just cut losses and go on to the next day. last friday and monday were good trading though
Gm,
only short. No losses today.

Edit: added 2dn screenshot (l1 long + 1short) , I got a little bonus for yesterday's frustration
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Don't think!
First trade using this way of trading on DE40

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Currently up by around 50+ points.
Gm, today's trades. Only longs.
Sum +100.
I'm in vacation mode, so We'll see here from time to time.
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Don't think!
Nicely done!

What session are you trading and which brick size are you using, 5 points?
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