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Thread: Trend Trading

  1. #61
    Quote Originally Posted by ;
    Hey G how did you encounter your method? Did you test each of 28 pairs or decide on your method of trading and forward test?
    MJ, it's been a really long journey for me. I suppose I had been a bit of a slow learner. I wasted a lot of money and time seeking to follow trading systems which others swore by. I have traded many instruments and taken a few of those techniques over into Forex trading. For instance, the pyramiding of trades was brought over from my commodity futures trading account. I read each of the most popular trading books and backtested many different strategies. Lots of my conclusions were reached through backtesting by me and from others who focus on this type of thing. For me personally, it wasn't as though a light bulb switched on. Over a very long period of research, backtesting and forwards testing in a live account, generating rules and learning to follow them, my results went from negative, to marginally negative, to about break to positive. The psychology of trading was the travel as many others have said. I still struggle occasionally with it. Every day cut losses small, let profits run, until it stinks follow the trend.

    I have never promised that my approaches will work for everyone, or that others haven't discovered approaches that work for them. If somebody can incorporate any element of my expertise to save themselves a lot of time and money that's worth our effort. For instance, I have said I only risk 0.5% of my account balance per transaction. This was a tough lesson for me to understand and it cost years of lifespan and a lot of hard earned funds. I suspect others don't advise this to new traders because they did not travel the same street as I did, but it is good for me. Maybe blowing out at least one account and wasting years of lifespan seeking to draw waves is merely a rite of passage into this enterprise. I think information I obtained from experienced traders helped move me along my trip and I really don't think I could have left it. I'm not selling anything here. That's great if some of my ideas help. If not, then find answers elsewhere and proceed. That. - G

  2. #62
    I've discussed this issue before, there is a big difference between easy and simple. For example, it is easy to lose weight. We can sum it up. Just don't eat. Individuals spend billions trying the most recent fad diet and it is not easy however and are still more fat than ever. It is very simple, but for many it is not easy. Trading for a living is never actually going to be simple. There are many pitfalls which can wipe out an account which have not even occurred. Before the dot com bubble, this particular pitfall had never happened, therefore it is not surprising those who had been successful for many years suddenly crashed and burned.

    In my experience, anyone who symbolizes professional trading as simple has some sort of hidden agenda. If one chooses to pursue this as a target trading can at least be made easy. Everything should be made as simple as possible, but no simpler, as Albert Einstein said. I analyze each aspect of my trading to locate things which are unnecessary or which can be done while that is simpler generating the very same outcomes. I've tried to lay my method here as simply as I possibly could. Long ago, almost all of my trading was optional. I attempt to put rules and abide by them except once I have good reason to break them. It has to be done only after careful consideration, anytime I opt to break one of my trading rules and thought and it is only done when the reward outweighs the risk. My goal nowadays is to keep my trading as mechanical and rule based as possible.

    This has been a good opportunity for me to narrow my rule set and introduce it to other people for evaluation and comment. Sometimes, I really needed to look deep into my reasoning and it has influenced my trading. I'll check back in from time to time and if I can be of assistance, please don't hesitate to call on me. I'd like to thank and I want everyone the best of success. -

  3. #63
    Quote Originally Posted by ;
    I've discussed this problem before, there is a big difference between simple and simple. For example, it's easy to lose weight. We can sum it up in three words. Don't eat. It is not easy however and individuals spend billions trying the latest fad diet and are more fat than ever. For most it's not straightforward, although it's very straightforward. Trading for a living is never going to be simple. There are many pitfalls that can wipe out an account that haven't even ever occurred. Ahead of the dot com bubble, that pitfall hadn't ever occurred,...
    Yeah, I always say to people this can be hard work. The pain just never stops, regardless of the years of experience.

  4. #64
    New to this post but have always seen forex as a great place to tendency trade whether short term or longterm. Usually I base my fad on the daily but sometimes the 4 hour. I'm slowly learning that my position must be relative to my account dimensions. I've blown accounts and felt that it was becoming rather old so I decided to learn from my mistakes. Anyhow I have two baby accounts and am starting over again...

    I'm in right now GU. It looks like it's hit on a bottom of sorts so I'm positioning lots of 2 micro pips. Got about a dozen positions as it continued to move against me (which I like in the beginning) I position usually between 12 to 24 pips although maybe not always. It strengthens my conviction that I struck bottom In case it does a dual bottom. A decrease bottom is from July 2018. I'll see what happens.

  5. #65
    Quote Originally Posted by ;
    New to this post but've consistently viewed forex as a great place to trend trade whether short term or long. I base my trend on the daily but the hour. I am gradually learning that my position has to be relative to my account size. I've blown many accounts and believed that it was getting rather old so I chose to find out from my mistakes. Anyhow I've got two baby accounts and'm starting over again... I am in right now GU. It seems like it's hit a bottom of sorts so I am positioning lots of two micro pips...
    Hi Taigen. Well, I'd stay with it. Just how much are you prepared to return if it turns out and heads up against you? - G

  6. #66
    Quote Originally Posted by ;
    quote Hi . Well, I would stick with it as long as it is headed down in your own direction. Just how much are you prepared to give back if it heads up against you and turns around? - G
    I would have but got turned up side down. I managed to get out without too much damage, two months later. I might have made some coin if I stayed in but when stuck in a currency pair for this I am not a trader but a nailbiter. Since I am doing pips when my first position is at a loss, I get out and substitute in a much better place but realizing I must make that $10.

    My GU position is a fantastic example. It's not at the bottom when I compare to the July 2018 PA.. If you determine I exchange you will notice the positions will be replace with rankings. A double bottom will build carefully from that point and is a sign that is fantastic.

  7. #67
    Quote Originally Posted by ;
    quote I would have got turned down. I was able to get out without damage. I could have made some money if I stayed in but when stuck in a currency pair for this I am not a trader but a nailbiter. Since I am doing pips when my position is at a $10 reduction, I get out and substitute in a much better place but realizing I need to earn that $10 up again until I see green. My GU position is a good example. It is not at the bottom when I compare to the July 2018 PA.. Should you determine how I trade you will...
    If you don't mind, I have a couple comments about your own trading. As best matches your own style of trading you dismiss or could accept these remarks. I commend you for being smart enough to trade micropips till you've got all these details worked out. It sounds like that wisdom was gained by you through experience, as most traders do. I busted my account as well, and that I know of very few traders that didn't need to experience that ugly rite of passage.

    Next, in case a first trade goes against you and you immediately cut your loss brief, that is generally a good thing. However, you the transaction and in case your entry criteria shows an entry, you are in risk of being whipsawed. Generally, the best way to avoid the whipsaws is before your entry criteria is invalidated, that you stay in the trade. That not only averts most whipsaws, but it enables you to stay in the trend more earning more pips. You can locate your spot that is own personal by extensive backtesting and by keeping tabs on what would have happened in live trading. Should you discover that within a length of live trading you are missing movements of the tendency in your direction than you are saving in losses along with your exit standards you may have to re-examine your exit standards. I am looking at the trend, and 1M, 5M and 15M changed the, on the very brief time frames. The more timeframe tendencies from 30M and above still seem to be down. Since you are trading primarily daily charts (good for you!) , you need to anticipate small retracements in the course of a transaction. Then you might have to make allowance if volatility is knocking you out of what is otherwise a good commerce. It's possible to judge normal volatility for this pair in this market condition by assessing ATR or checking this website,

    Ultimately, I always say, entries are the simple part. One could flip a coin and get it done half the time. Exits will be the hard part. I believe if you study your exit standards and work very hard on improving it pip by pip, you will do well in this business. Of course, that is just my humble opinion. Best success in your trading. - G

  8. #68
    Quote Originally Posted by ;
    quote If you do not mind, I have a few comments about your trading. You can accept or ignore these comments as best fits your style of trading. I commend you for being smart enough to exchange micropips till you've got all these details worked out. It sounds like that knowledge was attained by you through painful experience, as most traders do. I busted my account and I know of very few traders which didn't need to go through that ugly rite of passage. - G
    Thank you for spending the time to provide me some of your experience in forex. Like most, I have gotten beat up pretty bad. Starting with thoughts as. . .wow I have this figured out and is going to be a millionaire in a year... to,. . .can anybody make money in forex. After blowing off three accounts, I did, after much reflection begin to study what I was doing wrong as well as what I was doing . Although most put one position down and make determinations based on this I have concluded that, my disposition is better suited in multiple place trading with lots. Profit wise, both strategies appear to come the same value wise.

    Next, if an initial trade goes against you and you quickly cut your loss brief, that's generally a great thing. However, if your entry criteria still reveals an entry and you instantly re-enter the transaction, you're in danger of being whipsawed

    Totally agree. If it belongs more or 200 , But, I only get burned. Then I'm in recovery mode like my last GJ trade. If I logically lasted as I did in the beginning, I would have left 600 pips. Even though I got out I'm pretty much back to where I was. My son would have told me to remain in and talk me. Oh well. What I generally do now is hope that it goes up (it might or might not) and get out using the reddish positions and keep the green rankings. I could turn out that I unload all depending on the trajectory and the Stochastic and RSI and the SMA's. I'll behave. I'm out another day to trade if the support drops.

    I just trade live now. Learning the ropes onto a demo is something I recommend. You should receive your sea legs in 3-6 weeks. To go beyond that with no'skin' from the match, to me, gives one a sense of reality. Blowing a few accounts and learning from them should be considered as tuition for learning the game. It.

    I would like to thank you to the investing tools website. The data looks valuable. Thank you for your ideas.

  9. #69

  10. #70
    quote=rod777;11631865]. .

    Rod, if you want to try to market an EA, please go to the industrial section. This is the discussion Forum, and that I see no discussion in your article. Thanks -G

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