The hard road to consistency

Quote from riffrafffpatrol:

"NO TARGET YET"

Before you ever enter a trade you should know this...

Never enter a trade without it.

You want risk:reward ratio of 1:1 bare minimum.. preferably 1:2 or better however....

You simply can't know your r:r if u don't know your target.... a clear target should be very visible on the charts... no roadblocks visible from your entry. You need this to counter the stop loss risk you are taking. If no clear target- the trade is a "no trade". This will improve your trading majorly if you incorporate this rule. Do not rationalize that you need to be in a trade just for the sake of being in one so you can say you are being "productive" or "doing something".


Just tryin' to help brotha'!
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riff rat, you are one of the most obnoxious trolls who has ever posted on the internet. I don't know who you think you are fooling. But everyone knows you are a loser who thinks you have it figured out.

If winning was so easy we would all have it figured out.

I can just give you a few helpful hints that have kept me a jaws length away. It's no skin off my nose, since as soon as you start doing it, I will probably be doing something else.

but the dogmatic crap you post makes you look even more pathetic than you actually are

why don't you try to learn something? You are going to need it if you want to stay alive. And you'd be surprised where you can learn it from

I have learned a lot watching calmeuro trader
 
Since the start of this journal,

How many trades have you taken and what percentage of your profit has gone to costs, spread and/or commission?

I'd be interested to know based on the smaller TF's you use.

I would calculate it out if you haven't already. It's good to be aware of spread+costs vs your trading range.
 
Quote from oldtime:

riff rat, you are one of the most obnoxious trolls who has ever posted on the internet. I don't know who you think you are fooling. But everyone knows you are a loser who thinks you have it figured out.

If winning was so easy we would all have it figured out.

I can just give you a few helpful hints that have kept me a jaws length away. It's no skin off my nose, since as soon as you start doing it, I will probably be doing something else.

but the dogmatic crap you post makes you look even more pathetic than you actually are

why don't you try to learn something? You are going to need it if you want to stay alive. And you'd be surprised where you can learn it from

I have learned a lot watching calmeuro trader
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oldtime... instead of uttering insult after insult toward me... care to point out exactly what in my post you referenced that you feel is not relevant... or is in error? In addition-- I would like to know specifically what you feel is obnoxious exactly...?

I am trying to help this OP here... it seems you get awfully defensive very easy... that typically means it has to do with the fact I am recommending something that you aren't doing... is this the case again?

If not.. then what? Be objective and to the point.. on topic... instead of hurling personal attacks toward me.
 
Quote from calmeurotrader:

No, this wasn't my target. Normally my risk to reward ratio is at least 1:2. Today I messed up and took some unplanned trades....This is what I usually don't do.
I am disciplined 95% of the time. That's 5% which kills my performance the most :(
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OK... thanks for the clarification... and I hear you.. we all fall astray from our plan at times... what is key is realizing when it happens and doing everything we can to avoid it again.
 
Quote from calmeurotrader:

Thanks for the comment.
Actually I am using some elements of multiple time frame analysis. For example:
I got a signal to go long on a 1 min interval. However there is 5 min resistance very close above my entry price. I will skip the trade due to unfavourable conditions.
The same applies to 5 min. I don't want to go against strong resistance on a 1H chart..
Anything more advanced seems to be too complicated though, what are you supposed to do when you get conflicting signals ? Always skip the trade ?
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Well.... it depends on what exactly your conflicting signals are... and what the net result is over a number of trades relative to win/loss ratio, profit factor and expectancy. If the numbers aren't favorable... then yes I would recommend skipping the trade. You basically want to have clear and specific rules identified in your trade plan and then live by them.

What I am suggesting is instead of using "signals" on the shorter time frame... do the reverse--- get your signals from the larger time frame... and then fine tune your entry based on the smaller time frame... correct me if I am wrong-- but what you described in the above post is the opposite. If your signals are based on the larger timeframe-- you add to your probabilities of a successful trade... going to the smaller time frame for entry simply helps reduce your risk even further.

Does this make sense?
 
Quote from riffrafffpatrol:

oldtime... instead of uttering insult after insult toward me... care to point out exactly what in my post you referenced that you feel is not relevant... or is in error? In addition-- I would like to know specifically what you feel is obnoxious exactly...?

I am trying to help this OP here... it seems you get awfully defensive very easy... that typically means it has to do with the fact I am recommending something that you aren't doing... is this the case again?

If not.. then what? Be objective and to the point.. on topic... instead of hurling personal attacks toward me.
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you're a very smart man, and have a very sharp mind, I have no problem with you that way, You Gotta Have Wa
 
Quote from oldtime:

you're a very smart man, and have a very sharp mind, I have no problem with you that way, You Gotta Have Wa
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Evidently I'm not that smart or sharp.. cuz u have totally lost me with that comment lol "You Gotta Have Wa".... ?????
 
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