yeah good feeling when things works out in your favour. well managed risk!!
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- immy
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The most comfortable way to make money in trading...
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....
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....
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
- immy
- Founder
- Posts: 9660
- Joined: 22 Nov 2010, 16:46
- 13
LESS IS MORE
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....
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....
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
- immy
- Founder
- Posts: 9660
- Joined: 22 Nov 2010, 16:46
- 13
US30 WALTZ hits 5R
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)
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What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
- Posts: 894
- Joined: 16 Apr 2012, 08:09
- 12
Re: The most comfortable way to make money in 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 wrote: ↑13 Aug 2022, 21:57Huge 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
- Founder
- Posts: 9660
- Joined: 22 Nov 2010, 16:46
- 13
Re: The most comfortable way to make money in trading...
Good you askedfxsam wrote: ↑17 Aug 2022, 07:19Good 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 wrote: ↑13 Aug 2022, 21:57Huge 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....
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.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
- immy
- Founder
- Posts: 9660
- Joined: 22 Nov 2010, 16:46
- 13
TTTPP Signals ROCK - I love em
This TTTPP Signal on DAX D1 is wickedly good looking
Nice lovely momentum in the shape of 3 Ts and then 2 Pullback candles
Nice lovely momentum in the shape of 3 Ts and then 2 Pullback candles
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What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
- immy
- Founder
- Posts: 9660
- Joined: 22 Nov 2010, 16:46
- 13
US30 Signal 14.00 31 Aug 2022
Not Taking it
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What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
- immy
- Founder
- Posts: 9660
- Joined: 22 Nov 2010, 16:46
- 13
DAX 14.00 - Iffy
Well, firstly its not really a clean trend at this point
then we are TRTPP
Then we have an impulsive P.
No thanks
then we are TRTPP
Then we have an impulsive P.
No thanks
You do not have the required permissions to view the files attached to this post.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
- immy
- Founder
- Posts: 9660
- Joined: 22 Nov 2010, 16:46
- 13
Re: US30 Signal 14.00 31 Aug 2022
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!