Guess what, I used to be able trade ranging markets with profits. Now, with the low leverage the market has become DEAD silent. There are hardly nobody trading the ranging markets anymore.
Why? It is because ranging markets travel such small distances that one is required to use high leverage for any trade to be worthwhile. Of course, if you have deep pocket account than you would not need leverage in the first place. Most people, however, are not deep pockets.
Most people just leave the ranging markets alone nowadays. For hours, there are no new tick data. This means the market is losing participants; no customers no business.
Guess what? Forex market and Stock market are like twin brothers. If Forex market becomes DEAD then you can transfer your knowledge to the stock market. But then the stock market will probably be dead next too with itchy hands on regulations.
Saturday, September 29, 2018
Friday, September 7, 2018
Forex Rant after NFP 9/7/18
Greedy motherfucking market, do you understand I am in business and NOT in a hobby???
If I wanted pennies and dollars for my profits, I would of just work. Anybody can get pennies and dollars from working. I am not retarded; I do not want to waste my entire lifetime working just for small profits. All things add up, but adding up dollars and pennies do not go that far... I rather add bigger profits, okay!
If my take profit is not hitting, I am not taking profits!
If you gonna travel ONLY small distance, at least UP the leverage back to 400:1 so I can bet higher and make money.
Hey, we all should be rewarded handsomely for being good. No small profits please!!!!
Thursday, September 6, 2018
Consequences of midterm to longterm Swing and Position Trading 9/7/18
Swing Trading and Position Trading are common, but there are consequences if held unecessarily long. For one, there is a swap rollover price to keep in mind. One either benefits from the rollover or pay for the rollover.
It is a good idea to use the below calculator to get a rough view.
It is a good idea to use the below calculator to get a rough view.
Over analysis and brain paralysis, no worries! 9/6/18
Hey, ever feel lost or insecure on your Forex trades. Well, no more worries. Now you can view what other traders are doing through OPEN ORDER BOOK along with open position ratios and the commitments of traders (COT). This is like Texas Holdem with all cards revealed.
Monday, September 3, 2018
Creating An Edge??? 9/3/18
In the forex market, everyone needs all the edge they can get. Well, let's discuss the Risk and Reward edge.
I, for one, do not believe in RR concept. Although the logic behind RR is great, I see many times already that RR can be out the door if you enter trades in bad market conditions. You will probably lose trade after trade after trades. Such black swan event defies RR and thus RR will not help out much.
However, if you like using RR then this is the way I see it. Use RR during good market condition. When one enters a trade, there are only three outcomes: you profit, you drawing down, or you lose. Let's consider a draw down as a lost. You would need a RR of 1:3 only to profit.
And therefore, remember that 3 is the best reward multiplier. Anything higher than three, the market probably cannot reach your take profit area. However, I say 2 is the best multiplier because if you subtract the profitable outcome from the losing outcomes, 3 outcomes - 1 profitable = 2 losing outcome. All you need is actually a 2 multiplier to negate your two losing outcome, if any.
I have seen people using 1.5 as a reward multiplier because 2 might be too far away for market to reach. If you use 3, then market probably will not hit your take profit either.
Expecting huge rewards above 3 multiplier to negate losses is almost like revenge trading; success is minute and not going to happen. Whatever you use as your Risk Reward multiplier, success with anything above 3 is not impossible but rare and probably not a good idea.
I, for one, do not believe in RR concept. Although the logic behind RR is great, I see many times already that RR can be out the door if you enter trades in bad market conditions. You will probably lose trade after trade after trades. Such black swan event defies RR and thus RR will not help out much.
However, if you like using RR then this is the way I see it. Use RR during good market condition. When one enters a trade, there are only three outcomes: you profit, you drawing down, or you lose. Let's consider a draw down as a lost. You would need a RR of 1:3 only to profit.
And therefore, remember that 3 is the best reward multiplier. Anything higher than three, the market probably cannot reach your take profit area. However, I say 2 is the best multiplier because if you subtract the profitable outcome from the losing outcomes, 3 outcomes - 1 profitable = 2 losing outcome. All you need is actually a 2 multiplier to negate your two losing outcome, if any.
I have seen people using 1.5 as a reward multiplier because 2 might be too far away for market to reach. If you use 3, then market probably will not hit your take profit either.
Expecting huge rewards above 3 multiplier to negate losses is almost like revenge trading; success is minute and not going to happen. Whatever you use as your Risk Reward multiplier, success with anything above 3 is not impossible but rare and probably not a good idea.
Forex Automation Any Good? 9/3/18
Automation is good; I mean it is seriously good that regulations have to change rules to lower leverages in case people make TOO TOO MUCH MONEY!!!!
Forex automation is known by the name as expert adviser, EA for short. Any how, how do one go about figuring what is a really good EA? Well, here are my take on what is a good professional EA.
Forex automation is known by the name as expert adviser, EA for short. Any how, how do one go about figuring what is a really good EA? Well, here are my take on what is a good professional EA.
- It has to be profitable on all time frames, down to the M1 or even tick level.
- It has to be profitable on most currency pairs, 90% above.
- It must enter/exit trades accurately above 50% thus providing good edge.
- Bankruptcy must never exist; EA must know to exit a trade or hold on to a trade.
- It must be personalizable; it can be configure to clients' liking without sacrificing profitability.
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