5% - 10% profit per day trading
- Thread starter spanish89
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aloha....lol
Thanks alot,
Wish i could have held it too but my stop was hit, what a bitch...just like me at times...lol
Are yoou on facebook btw??
Meli
I exited @ 44.87 with +$595 profit
I like to go long again later, but I don't like what I am seeing on the 15 bars. I'll wait a bit and see how things develop
I like to go long again later, but I don't like what I am seeing on the 15 bars. I'll wait a bit and see how things develop
In response to the people on t2w who are now saying that i ecourage everyone to use giant stoploss-
I havent ever told people 'make this trade with a stoploss that high'.
I say that i often trade like that, but i only do it because i know how to handle that style of trading, and because it works for me pyschologically...
As if im trading more than £2 per tick and i had 2 losses of 30ticks, then i would feel very down and so would be very unlikely to re-enter the 3rd time, which would be the time that the trade wouldnt have had reversal or have stoploss taken out.
I did very very clearly say here, and have said before, that this style of trading with those size stoplosses should only be done if you know that your mind works in that same way...
And have said that if you are able to trade with tight stops sucessfully and not be thrown with losses and tehn miss trades, you should use a very tight stoploss (26ticks max).
Quote from what i wrote
*So-
You could trade it by entering longs off the touch on the line, stoploss maybe 11ticks below the line.
=Market bouces off, your in profit, and just follow it up to the next lines.
Or market breaks through, you have tight s/l so only lose 11ticks.
And watch it then fall about 36ticks more down to the next level.
You do same there and if that one holds you make MINIMUM 40ticks profit for when goes back up to the higher line.
So endup profitable
And then onc eyou get more advanced and confident and knowing the levels that will and wont hold, and how far market can stretch in 1direction even if its really really ralling hard...
Then you can just let it fall down through quite a few of the lines,
so wait until theres been a big move in 1direction,
when you see it reach the next line down and its really really looking to struggle to go even lower there,
you then go long very big and hard with very big stoploss.
(As the lower it falls the better it is for you as you can add more longs so get better average price and at higher £ per tick, for whne it is forced to bounce back.
***Or if you prefer to make smaller but safer trades to build up confidence (the way you should always trade, but i gotten lazy lol),
You- see big move down trhough lots these levels, so thats your guide that you can get a long for the pullback move taht will follow.
You then waut till you see it strugglung at a level to go lower and it starts to form head n shoulders formation (V-shape basically), you then go in long from there with tightish stoploss.***
For lots of other trades though lots of small losses (with 'chance of bigger profit if you are lucky enough to have taken another trade') does get them more thrown off than if they take lots of medium size to big profits, and then have the chance of having the occasional medium size to big loss sometimes though.
Thats why i try to focus more on helping peopel identify the really really good entry points and levels when they look at the charts and the moves that happen,
so that they cna get in with tiny stoploss or a giant huge 1,
yet either way would be in very very good levels when entering and so will have profitable trades as market wouldnt go agaisnt them much, even if their stoploss was prepared to allow it!
8Thats why i post so many chart screenshots to show people what the market would look like at the time that there would be the good entries...
I havent ever told people 'make this trade with a stoploss that high'.
I say that i often trade like that, but i only do it because i know how to handle that style of trading, and because it works for me pyschologically...
As if im trading more than £2 per tick and i had 2 losses of 30ticks, then i would feel very down and so would be very unlikely to re-enter the 3rd time, which would be the time that the trade wouldnt have had reversal or have stoploss taken out.
I did very very clearly say here, and have said before, that this style of trading with those size stoplosses should only be done if you know that your mind works in that same way...
And have said that if you are able to trade with tight stops sucessfully and not be thrown with losses and tehn miss trades, you should use a very tight stoploss (26ticks max).
Quote from what i wrote
*So-
You could trade it by entering longs off the touch on the line, stoploss maybe 11ticks below the line.
=Market bouces off, your in profit, and just follow it up to the next lines.
Or market breaks through, you have tight s/l so only lose 11ticks.
And watch it then fall about 36ticks more down to the next level.
You do same there and if that one holds you make MINIMUM 40ticks profit for when goes back up to the higher line.
So endup profitable
And then onc eyou get more advanced and confident and knowing the levels that will and wont hold, and how far market can stretch in 1direction even if its really really ralling hard...
Then you can just let it fall down through quite a few of the lines,
so wait until theres been a big move in 1direction,
when you see it reach the next line down and its really really looking to struggle to go even lower there,
you then go long very big and hard with very big stoploss.
(As the lower it falls the better it is for you as you can add more longs so get better average price and at higher £ per tick, for whne it is forced to bounce back.
***Or if you prefer to make smaller but safer trades to build up confidence (the way you should always trade, but i gotten lazy lol),
You- see big move down trhough lots these levels, so thats your guide that you can get a long for the pullback move taht will follow.
You then waut till you see it strugglung at a level to go lower and it starts to form head n shoulders formation (V-shape basically), you then go in long from there with tightish stoploss.***
For lots of other trades though lots of small losses (with 'chance of bigger profit if you are lucky enough to have taken another trade') does get them more thrown off than if they take lots of medium size to big profits, and then have the chance of having the occasional medium size to big loss sometimes though.
Thats why i try to focus more on helping peopel identify the really really good entry points and levels when they look at the charts and the moves that happen,
so that they cna get in with tiny stoploss or a giant huge 1,
yet either way would be in very very good levels when entering and so will have profitable trades as market wouldnt go agaisnt them much, even if their stoploss was prepared to allow it!
8Thats why i post so many chart screenshots to show people what the market would look like at the time that there would be the good entries...
Oh and for masq's question-
Yes if you get in atrade and market goes 100points offside then yeah, ''with the crystal ball or the clock that rewinds time'' you could have gotten in at 100points better.
However in the real live time, where markets moving every seconds, you could also have not taken taht trade, and market then went 100points in what would have been your favour!
Or you could have made the trade, taken loss after 20points.
traded again same direction at better price, lost 20more.
done it again, caught out by spike, lost more + lost the spread cost each time!
So then market suddenly switches and starts reverse spiking you have no way of knwoing if it continue trend or reverse and fall 300 more...,
So what do you do??
the old '20 loss each time till get in and dont have loss'???
theres no point in even thinking about what you ''could'' have made if you had known the future or just acted in any other way to how you did.
Since you dont do that for all the times you make loads money, so why beat yourself u for it on the time you lose money?!
Yes if you get in atrade and market goes 100points offside then yeah, ''with the crystal ball or the clock that rewinds time'' you could have gotten in at 100points better.
However in the real live time, where markets moving every seconds, you could also have not taken taht trade, and market then went 100points in what would have been your favour!
Or you could have made the trade, taken loss after 20points.
traded again same direction at better price, lost 20more.
done it again, caught out by spike, lost more + lost the spread cost each time!
So then market suddenly switches and starts reverse spiking you have no way of knwoing if it continue trend or reverse and fall 300 more...,
So what do you do??
the old '20 loss each time till get in and dont have loss'???
theres no point in even thinking about what you ''could'' have made if you had known the future or just acted in any other way to how you did.
Since you dont do that for all the times you make loads money, so why beat yourself u for it on the time you lose money?!
I jumped in long again @ 44.72
Quote from wee man:
Hmmmm.....Didn't you used to do just that only a few weeks back?
yep i used to do it so much, but then i fianlly managed to get past that stage and just accepted that ok i hopefully will make lots of money, but i will miss out on about double t even triple of what ''could'' have been made.
And so i know how bad it gets if you keep thinking liek that, and so thats why im now tryingt on help others avoid it.
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