DAX DOW NASDAQ

[fxsam]

Effortless and marvellous


 

Today on US30 8R effortless .... 
 

 

yeah good feeling when things works out in your favour. well managed risk!!
 

[immy]

Huge Risk to Reward Trades

It really is this simple

Dont try to be a genius. Be wrong as many times as you like just make sure when you're right, you RAKE it in...

in other words go for at least 1:5 winners.... if you do this on most of your trades, all you will need to have to do is maintain a 20% win rate.... yeah that's right, just get 2 trades right in a 10 trades sequence....

this to me is the EASIEST most comfortable way of trading....

[immy]

Don't Take more than 1 Trade at any given time...

If you really believe in risking 1% per trade, then taking 3 trades means risking 3%. That does not make sense

If the above is true then why would you look at 10 markets?

EU GU UJ DAX that's mine... but I also look at NAS/US30 from time to time....

So if you're just starting, you should focus on 1 or 2 max markets... yes, even on h1. or h4. Just 1-2 markets....

[immy]

Finally it hits 5R. I love taking WALTZ setups. The last one I took was UJ that did not work. But today it worked. (from YD) 

[fxsam]

Huge Risk to Reward Trades

It really is this simple

Dont try to be a genius. Be wrong as many times as you like just make sure when you're right, you RAKE it in...

in other words go for at least 1:5 winners.... if you do this on most of your trades, all you will need to have to do is maintain a 20% win rate.... yeah that's right, just get 2 trades right in a 10 trades sequence....

this to me is the EASIEST most comfortable way of trading....



 

Good point. However, while chasing 5R at times you need to give it back some or all profit. How do you protect profit ? For example, Your A trade is 3R and you are still waiting for 5R target to be hit, how do you make sure not giving back already earned profit but at the same time not existing prematurely?
 
 
 

[immy]

Huge Risk to Reward Trades

It really is this simple

Dont try to be a genius. Be wrong as many times as you like just make sure when you're right, you RAKE it in...

in other words go for at least 1:5 winners.... if you do this on most of your trades, all you will need to have to do is maintain a 20% win rate.... yeah that's right, just get 2 trades right in a 10 trades sequence....

this to me is the EASIEST most comfortable way of trading....







 

Good point. However, while chasing 5R at times you need to give it back some or all profit. How do you protect profit ? For example, Your A trade is 3R and you are still waiting for 5R target to be hit, how do you make sure not giving back already earned profit but at the same time not existing prematurely?
 
 
 




 

Good you asked

You NEVER Ever give back 4R or 5R profits. In fact, if you do that, you will lose your challenge. (if it happens within the same day). (more on this later)

Here is the Trade Management I use

+2R Move SL to BE
+3R Move SL to +1
+4R Move SL to +2
+4.5-4.75R Move SL to 3R. 
Tha'ts it. 

Don't be scared of giving it back. its NOT m1, it does not turn around in one candle. You will have plenty of options to choose. I have , so far, NEVER given back 5R. 

ps: like I have been saying for years, RISK MANAGEMENT is everything. The reason Wave 3's gradually turn into wave 4, is because professional traders, like to take profits , in other words, to minimise risk. IT makes no sense that you are 5% up and you allow it to come down to 0% hence we either take profits or tighter stop loss to Lock in profits. 

pps: if you have to allow the trade to run while you sleep, hit the TRAIL BOX button. that's it. 
 
 ppps: you can also use the ATM purple (@) line to specify custom instructions. e.g. put the purple line at 3R and tell it move SL certain amount of pips up, that is 1R. you can learn to do that. 
 

[immy]

This TTTPP Signal on DAX D1 is wickedly good looking 

Nice lovely momentum in the shape of 3 Ts and then 2 Pullback candles 

[immy]

Not Taking it 

[immy]

Well, firstly its not really a clean trend at this point

then we are TRTPP 

Then we have an impulsive P.

No thanks 

[immy]

Not Taking it 

Cancelled anyway.