Thread: Slow and steady using patience and discipline !

Hi there...

Launched the Slow and Steady but lost the plot somewhat.

I would like to structured, disciplined and patient. I hope you can also (be patient that is... ).

Below is a description of the idea of trading that I believe can (and has) work(ed) for me personally. I'll be investing in a real demo acc using just the transactions posted on here. This is going to be a true test of making money. Doubling in month? Nope. Any favorable result will be good, although I am hoping for 10%.

I shall start with $50,000 balance which I think is reasonable. Will be using FXCM as they permit the trailing stops.

This will be my foundation....rules to follow.

Various price action/indiors/trend lines etc longer time frames (daily/4h) showing a fantastic probability move (what I believe to be better than even chances) will direct me to open a trade. Cease will be determined based on time period and previous support/resistance. In the stop quantity (in pips), and max risk (2% of funds), I'll workout lot dimensions based on $/pip for anything has been traded. Limits will be set which will most likely be way ahead of stops (with respect to amount of pips). Stops will be transferred to break even once the belief exists that me will not stop out unnecessarilly. Trailing stops might be used once cease transferred to b/e.

Main risks are a lack of patience (i.e. waiting for the right trade), and of course lack of discipline - i.e. not following the principles. . .and the typical one would be moving stops further away permitting losses grow.

Will also attempt to avoid big news spikes.

Wish me luck...! I shall keep a listing of running balances/trades which I'll post every so often.

There will not be any trade taken not on the forum, and no trade on the forum never taken. I am hoping to keep this going when it works. Will be moving to some acc someplace in between.

Cheers
John

mmm. . .the yellowish metal is on an awesome looking 4 hour downtrend....and seems to have bounced off it...

short commerce taken 575.40 (cease 5 dollars off)

Fantastic luck partner !

audusd


nice setup being created for a short trade...

AUD JPY


Another nice setup.. .coming back into a confluence of support/resistance...

blue downward TL which go broke and might now be supportive
red countertrend line which may be supportive
50% fib that might be supportive.

Turnaround on shorter time period would see me go long here....

Whatever we utilize to far can I make? How many pips? What percent of my capital can I make? Etc etc..

I'm going to give my answer to these based on the way I believe that this trading functions...


I'm expecting to make 10% a month. Pips are irrelevant, as lot size varies based cease amount. Larger the stop amount in pips, the bigger the lot size. Risk remains the same - 2% per commerce max.

I'm expecting profits to be roughly twice the size of losses, therefore on average profits will probably make 4% of capital. So with the standard 2% loss and 4 percent profit, with probability being greater than even, you can use a variety of combinations....

1 triumph will pay for 2 reductions for b/e. A win/loss combination will web 2% and 5 losses a month will probably net 10%. 3 wins with no losses over 10%. And so on....

A fixed 10% will not be great to attempt to adhere to, but its a ball park objective. It might be less, or a bit more.

But I think this to be a reasonably safe, slow and stable method.

With 100,000 dollar acc, that makes on average 10k a month. That could live off. The funds.

Of course smaller acc's can be left to grow. . .10 percent a month compounded will multiply an acc by roughly 30x in 3 decades. So 10k can become 300k ! And then you can be making 30k a month.

Nice pipe dre that these are, but I think fairly on the conservative side when one sees/reads other threads/ideas outside there.

I think its potential. Only the subject.

Cheers
John

eurcad

if it falls beneath the green line and pops up it is going to hit a confluence (thanks JH) of resistance/support - rebound from there could make a fair short trade...

Do not start this experimentation. July and August are range-bound, prone to trendline-perforation and chaotic volatitily. If I was you I wouldn't trade money.


J.H.

Hi Mosaic,
Congratulation ,
Please post your analysis charts for us, newbies , to study .
We newbie are rooting for you.

Originally Posted by ;

don't begin this experimentation until september. July and August are range-bound, prone to volatitily and trendline-perforation. When I was you I wouldn't trade real money.


J.H.

Hi J,

I'll endanger !! Will post charts and ideas, but not trade till Sept.. .

Thank you for the information.

John