the interesting thing,though it will not surprise any experienced traders,is that all the profit making trades have come in the overlap of London and American sessions.....showing the importance of liquidity. clear message :when to trade is more important than how to trade
the market is different every day every hour....systems,by definition, will work only part of the time....part time money.... I trade according to the market.....what it is doing...so i get a lot more bang for my buck.... just because i get more return people assume i am taking more risk..... EDIT:the risk in this method, is in misreading the market.... and the greatest risk is ignorance. and in being blind to market realities."There are none so blind as those who will not see"
Volpri [member] once said he starts the day trading demo to see if his skills are activated for the day i am considering doing the same in asian session.i am wondering if it is just sloppy trading that makes me lose in asian session:it may that my profit the day before is lulling me into indiscretion of some sort or if it is a liquidity issue. EDIT:OR WHETHER i am protecting my previous day's profit so trading differently
the main issue with my trading is that i trade by 'instinct' meaning i see the price actiona nd context and it gets automatically processed and action taken. there is no formal process of steps that are taken every time, before a trade is executed;this leads to sometimes less confidence in the trade. i am searching for this formal method to improve my confidence and consistency
in case you are wondering how i get these returns it is because i do not mind losing half of my account that may seem absurd but that is what i do not mind. i know that i can double it any way and recover my loss.
experts say trade the trend and this is correct....the pullback is also a trend and in many cases it is worth trading. Sharp moves are always tested and sometimes retraced more than fully,this is a technical phenomena but in trading folklore has given rise to demons who are running stops: sharp moves attract opportunistic traders who are leveraging risk but not technical knowledge and this risk-knowledge gap is very evident in today's leveraged world. why do i mention all this:if you are aware of this you are one step ahead of many traders and that is all you need to be;just one step ahead. this is why i get exceptional returns because i am one step ahead
if you knew where GS was buying or selling it would be advantage. TRADERS ARE ALWAYS LOOKING FOR SUCH INSIDE INFORMATION. The irony is, where GS buy and sell is public information:because their activities are reflected in price,however much they try to hide it, and a good price action and context trader can find it out. i am at most times as good as any and that is the reason for my exceptional returns....not high risk, as many would like to believe....these do not accept that i have more knowledge than them and so they react by spewing hate on me in this forum.
i have been watching charts and rather than worry about what wave the market is in what fib is the next support,or where is the daily pivots ...I see what the buyers and sellers are doing and where they are active. the size of bars, along with the size of bodies, give critical information about what buyers and sellers are doing and more importantly what the effect of their activities is having on price. my trading method does not depend on a system but that does not mean there is no method in my alleged madness...... in my mind in the face of all i have written, all these coaching jokers who expound about risk management, is a result of their faulty methods and systems which they attempt to save by 'risk management'