TRADING IS SIMPLE ... (TheRumpledOne)

TheRumpledOne said:
HAPPY NEW YEAR!!


TRADING IS SIMPLE


ALL YOU NEED TO KNOW ABOUT TRADING

* Price either goes up or down.
* No one knows what will happen next.
* Keep losses small and let winners run.
* POSITION SIZE = RISK / STOP LOSS.
* The reason you entered has no bearing on the outcome of your trade.
* You can control the size of your loss (skill) but you can't control the size of your win (luck).
* You need to know when to pick up your chips and cash them in.

Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss)

You cannot control the probabilities of wining or losing.

You cannot control your average win size.

The only part of the equation of the equation that you can control is your average loss size.

PRICE ACTION

“Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame (with the obvious limitations explained above)

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden

1) Price will either breakout of the high, low or both of the previous bar

2) Price will not breakout of the previous bar.

You cannot reduce it any further. Anything else complicates the issue.

ENTERING A TRADE

You either decide to:

1) Wait and do not enter a trade

2) Trade a breakout

3) Trade a reversal.

Those are your ONLY 3 options.

That is all you need to know about trading.

TRADING IS SIMPLE!
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I agree with most or all of what you said, but think it's still hard to put it all together and apply it.
 
If problem centers around placing 2 many trades that are unreliable check out my comments at this site threads on EurUsd Or GBpusd Pair as of current reliability Price is produced at so much accuracy as in bang on the pip - You will find the Pairs have use the Support Levels as Allocated just fine - with targets and take profit marks surrounding the entire structor of the investment plan.
 
Euro Spot Price 1.2373 New & Revised Positioning - EurUsd Pair At Moving High 1st Resistance Level Expected at 1.2616 added Overbought Valve 1.2660 as High Mark - Concildation Area thereafter : Advise to Advance Traders : Look at 30 minute chart bars - As to Exit Concildation Low Phase - Further Highs is Expected - As of Continuation Up Trend.
 
Cable Spot Price 1.3968 New & Revised Positioning - GBpUsd Pair At Moving High 1st Resistance Level Expected at 1.4075 added Overbought Valve 1.4112 as High Mark - Concildation Area thereafter : Advise to Advance Traders : Look at 30 minute chart bars - As to Exit Concildation Low Phase - Further Highs is Expected - As of Continuation Up Trend. Now check out.
 
peter matthew matty said:
Hi Rumpled One I`ve just this minute taken a look at the UsdCad Pair through my Chart View and these are my finding - UsdCad Pair Spot Price 1.2835 Buy Hold would be my opinion here - With A Good Support Level Allocated at 1.2807 - Price is head in an Uptrend Direction towards Monthly Chart high at 1.5024 Price is at the start of the H4 Chart Breakout Trend High from 1.2249 & Heading towards 1.4930 H4 chart High - Near the Monthly Chart High at 1.5024 of course adding to any Overbought Value which may apply to Price so should relate to within 100 pip more at full extended level High. I hope that you find this piece helpful -- Sorry about the screen shot I`ve sometime ago discontinued using the screen shot feature on MT4 platform so unable to provide a screen shot photo on this occasion regarding the GbpUsd Pair you can always just plot out a few horizontal line if you find the Pair of interest to you.
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Hi The Rumpled One - Is the UsdCad Pair working for you as of my forecast - There is also Eurjpy - Gbpusd - & Eurusd Pair at your disposal & to my Forecast please mark out Charting Support Level as well any Resistance Level you find applicable as of succeeding the monthly chart cycles all Pairs are clearly indicative of there current trends. Further evaluation can be found through posts at this site under the Pair respectful symbol. Happy Trading. at 100% Accurancy
 
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peter matthew matty said:
Hi The Rumpled One - Is the UsdCad Pair working for you as of my forecast - There is also Eurjpy - Gbpusd - & Eurusd Pair at your disposal & to my Forecast please mark out Charting Support Level as well any Resistance Level you find applicable as of succeeding the monthly chart cycles all Pairs are clearly indicative of there current trends. Further evaluation can be found through posts at this site under the Pair respectful symbol. Happy Trading. at 100% Accurancy
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I usually pick one pair and trade it for the month to show traders you don't have to go from pair to pair.
 
TheRumpledOne said:
I usually pick one pair and trade it for the month to show traders you don't have to go from pair to pair.
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Ok that sound perfectly reasonable by my standards - I know you are well versed within the UsdCad Pair - I also stick to one Pair but as virtue of probability adding to more pairs as of the profits that can be gained through multiples of currency indexes - Quote : Virtue can also mean excellence in general - The phrase by virtue of means "as a result of" or "by authority of." You will achieve success by virtue of hard work (or by virtue of inside connections). Quote applied from the Dictionary.
 
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