Look for just two trades per year
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Thread: Look for just two trades per year

  1. #1
    As a'full time' trader of several years experience I look at the systems and threads within this Forum with great compassion and understanding. It's apparent that there are numerous guys and gals out there who are struggling to earn a living from Forex trading using achievement. Many, it would seem, jump from thread to thread searching for the holy grail just to be disappointed and disillusioned when they finally take the plunge and begin trading there have hard earned cash.
    I too fought for several years before it finally clicked that trading is actually very very simple, very simple and very profitable.
    I will disclose my'amazing system' if that is demanded but there isn't anything new or unique about my trading style. Indeed it's clear from the threads which there are traders out there who are far a lot more knowlegeable about the fundamental and technical aspects of trading but fail because they cannot find the bigger image. .
    Here is the bigger image
    1. Don't waste your time piddling about on 10,15,30,60, 5 or even 4H charts. Anything less than 4H charts are for adrenalin junkies that are hooked on trading. I you do earn money on these time frames of you'll give it all back over time. The 5 percent must lead lifestyles . Personally I NEVER spend over half an hour a day searching for transactions. The remainder of my time I fish, travel, sunbathe and earn love.You earn more cash by trading . Overtrading=reduction
    2. On daily charts look for curreny pairs which are ranging. Don't attempt to exchange these pairs but wait for a break out of the range in either direction.
    3. Get in the trade.
    4. Remain in the trade before the trend turns into a range or setbacks,(several weeks or months) Use a trailing stop loss to lock in your profits but the stop loss must be wide enough to keep you in the trade during retracements.
    5. If you have just missed a new trend (.eg. Current USD strength) wait for the inevitable retrace and get in in the direction of the trend.
    And that's it. If you would like to use MACD, stochastics, gymnastics, heimlich maneuvers etc then thats nice but don,t forget the basics
    IDENTIFY A TREND/ GETIN/ RIDE THE TREND TO THE END OVER WEEKS/MONTHS YEARS. /MAKE LOTS OF MONEY
    Locate two great trends a year, thats all you need to do to earn real money.

  2. #2
    If making money is truly so easy why are there numerous experts out there promoting lots of complied trading hints and ideas.
    The answer is- because traders are constantly seeking that fool-proof system. Following a few trades they look for another, then another and so on and leave their system. Consequently a huge industry has grown to provide these starving seekers with'the only'
    Who makes currency trading currencies? Answer- the professional traders.
    Do you think they make their money scalping on a five minute chart?
    Get genuine, do what the pro's do. Do not get sucked to piddling about searching for a few pips and a few pips there.
    Be patient- search for the Large moves-then'meet your boots'

  3. #3
    I must agree with you. Very similar to thread.

  4. #4
    I wager this post gets a lot more views than my previous ones. Why? Becasue of the promise of quick pips- and that is the issue.
    You need patience to become very successful in trading. You need to be ready not to trade for extended periods waiting to come along. If you can't do that you will consistently give your money back to those who do- people like me.
    But I don't want YOUR money. Without even taking it off you guys as well as 13, there's plenty out there.

  5. #5
    Hi Daveadbds,

    Welcome to the forum, and thank you for sharing your thoughts and ideas.

    While I do agree with much of what you stated, for example, You need patience to become really successful in trading, and, After some losing trades they depart their system and try to find another, but I don't agree that, Anything less than 4H charts are for adrenalin junkies.

    To think you may only always make money in your 4H chart or greater is, quite frankly, ignorant, and to say that just professional traders (those individuals whose main income is from trading year after year) use more time frames only is simply untrue. I personally understand scalpers who use the 5 and 1 minute charts (although, they are aware of more timeframes), and they make a decent living.

    Over the years I have observed several trading fads come and go, and this matter of interval appears to emerge every so often. When day trading and scalping become popular, traders flock to smaller period compressions, and after many traders attempt to fail using this technique, the tide turns and then everyone is praising the potency of their bigger time compressions (generally 4H and larger ).

    Being a fantastic trader has little to nothing to do with the scale of your chart. It's all to do with comprehension price action, market plogy, and commerce management, which includes but isn't limited to cash, business, and emotional management.

    Daveadbds, I'm glad you are here to share your expertise with those less effective than yourself, but please don't allow your constraints in believing to hinder those who might not understand any better.

    Best Wishes,
    Art

  6. #6
    I find exactly what you say intriguing but subjective. That is to say that what you do is the only way to generate money and thats how pro's only do it that way is foolish thinking I have been trading for nearly 8 decades now the previous 5 for a living until this year I have been trading off 1 hour charts but this year all the things I heard about price action became true understanding and I strictly trade off 5 min charts in the course of the daily fad only. The best method to trade in my opinion really isn't the accumilation of pips however money.what I mean by that is wins and losses. Because today with this set up if I find a method that gives me 60 wins accompanied by proper money management you can accumilate cash. I says these items not subjectively but it thats amazing I posted along with the man before almost said the same thing

  7. #7
    I wanted to state exactly the very same things as Rosscub and harold4x, but you guys beat me to it.

  8. #8
    Everyone has different views, and there have been dozens of threads. In the end of the day, what matters is what works for you.

    No need to impose any ideologies on others (not saying that anybody is).

  9. #9
    I forget precisely what you bring to the forefront here. I get so tied up in figuring where price will, I manage to forget the only and obvious exchange what I see occurring. Thank you for reminding us also to realize how trading could be and to do that. Your insight is much appreciated.
    Thanks again, Tom ()

  10. #10
    There are many ways to make money trading the FX or any other market for that matter. However ther is one certain way investing without a protective stop loss. Each trader has endurance and different plogy. While investing in a daily chart could be simpler to trade, someone with a need to be constantly makingtrades will never earn money with this technique as his patience or lack of it might get him out quickly. The same is applicable for the trader who is a long-term investor type will eliminate money trading a 5 minute chart. 1 size certainly does not fit all.
    Just my two pennies

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