easiest money in my life

Discussion in 'Journals' started by padutrader, Oct 13, 2023.

  1. maxinger

    maxinger

    Huh? You manage to find a trading opportunity?

    For the past few hours, the market has been dead, very very dead.
    And it will continue to be dead until there is major news/events.
     
    #111     Oct 17, 2023
  2. padutrader

    padutrader

    my observations are the secret of my success but i have relied mainly on Brooks since i want to trade 5 min TF
     
    #112     Oct 17, 2023
    Darc likes this.
  3. padutrader

    padutrader

    markets is not dead if you are looking for 1-2 point scalps
     
    #113     Oct 17, 2023
  4. maxinger

    maxinger

    OK.
    From your viewpoint, the market is alive.

    Your target profit is 1 to 2 points
    What is your max loss?
    What is your typical reward : risk ratio?
     
    #114     Oct 17, 2023
    Ironplates likes this.
  5. padutrader

    padutrader

    What is your typical reward : risk ratio? here is TST record for 5 days.. et4.png
     
    #115     Oct 17, 2023
    Darc likes this.
  6. padutrader

    padutrader

    from my skill level it is alive.....this is sim but was not confident of market to go live also data was due and i do not like trading during news release et5.png
     
    #116     Oct 17, 2023
  7. padutrader

    padutrader

    there is a way to trade each market condition and Al Brooks goes into a lot of detail on how to do exactly that.
    it can be and is confusing, in the beginning because he does not explain clearly enough; but since, he is great trader and strategist of markets, one has to be patient and keep trying to understand what he is trying to say.
    it took me almost 15 years but it is quite exhilarating after that
     
    #117     Oct 17, 2023
    Darc likes this.
  8. padutrader

    padutrader

    enjoying the ride notwithstanding the fact that it is sim though how i wish it was live
    et6.png
     
    #118     Oct 17, 2023
  9. padutrader

    padutrader

    i do scalp, when the market forces me to; but scalping requires a lot of focus and it is not my favorite past time but needs must.... swinging in a runaway bull/bear is a lot of fun if you manage to get in early...allez lapin,allez et7.png
     
    #119     Oct 17, 2023
    Darc likes this.
  10. hmmm that is some tight risk to reward.

    what if you tracked 30 trades on your sim account or even just use historic data and see how your setups work? define the entry, stop, and exit before you enter.
    follow the market rather than react to it.

    what if you gave yourself a 500$ stop on 1 contract. move stop to break even when position is up $1000 and exit the trade at $2000. no emotion. those are your parameters. work that fear of loss out of there and get comfortable squirming as you watch a $1000 gain stop you out at Break Even or a $2000 target get hit. then you may be free.

    do that across 30 trades and see if your risk to reward could move up to 4X.
    dont worry, the wins will most likely cover your losses.
    use the same setup and just use 100 bars to follow the market.
    see what happens?

    I would invite you to aspire to get that return to risk above 4 times and a win rate of 30%

    making money is the easy part, keeping it is where the skill shows up.
     
    #120     Oct 17, 2023