What's your Edge? When I started trading back in ancient times, I had neither the self discipline nor the technical knowledge to be a consistent winner. I tried to exercise self discipline, but I always fell short, holding on to a loser too long, ...

Multi-Lot Multi-Timeframe Position trading

Here is a pretty picture using the Heiken Ashi. EU is now short for 5 lots. Stops are moved to about BE just above two lower highs, counting back, so there is no risk to the 1900 pips profit already taken off the trade. There has been no overall ...

Multi-Lot Multi-Timeframe Position trading

Yes, it's amazing the pips that can be made by doing nothing. Many famous traders have said they made most of their money sitting on their hands, or something like that. It's often hard to let profits run when a good trade is doing well. If the ...

Multi-Lot Multi-Timeframe Position trading

Great chart. Thanks for sharing. I could write a book about it, but I'll keep it short. I would just point out that all successful methods are trend following methods to some degree. Even counter-trend trading is following the trend of the ...

Multi-Lot Multi-Timeframe Position trading

Note that this was done with no leverage. Just adding 10:1 leverage would increase the return by 10X. Of course it was a simplified example to prove a point, but point taken.

Multi-Lot Multi-Timeframe Position trading

Well, if you understand Quantum Physics, don't tell anyone. They will lock you up as a madman until you earnestly recant. I'm sure there's a good reason for that. Seriously, I do think that accepting the statistical nature of the markets is one of ...

Multi-Lot Multi-Timeframe Position trading

Thanks! Steady as she goes.

Multi-Lot Multi-Timeframe Position trading

That's great MM. There's not much difference between what I'm doing and what you are. We are both riding the trend with multiple entries and taking profits as we go. It's Rodeo season here in Houston Texas. As we say in the arena, Ride'em cowboy!

Multi-Lot Multi-Timeframe Position trading

I think martingale went broke.

Did Martingale work for someone?

I study.

what do you do while waiting for a good trade ?

Exited UJ at BE. Nice fat profits built up on EU, EG, AU shorts. Cut loses short. Best is to cut them before they even become losses, if possible. Let profits ride. How long? Longer than you ever have before.

Multi-Lot Multi-Timeframe Position trading

Taking top lots off in profit this morning after good overnight moves in 4 lots each on EU, EG AU shorts. UJ long +30 but still 60 pips risk total on 2 lots. Decided risk is reasonable and letting it play out. Out of town the rest of the day. ...

Multi-Lot Multi-Timeframe Position trading

EU, AU, EG trending down in ALL timeframes. Trailing stops 2 to 4 H1 lower highs back on 4 lots short each. Trades are risk free, considering 1170 pip profits taken already. UJ trending up in ALL timeframes. Trailing stops 3 H1 higher lows back on 2 ...

Multi-Lot Multi-Timeframe Position trading

IBO, I'm glad you picked up on the importance of this concept. It seems simple and most people will read it and think sure, ok, so what? The concept of probability in determining the future goes well beyond trading. For instance, in physics we first ...

Multi-Lot Multi-Timeframe Position trading

This is absolutely true. That's because the market is not deterministic. The market is probabilistic in nature. It takes some adjustment to think in terms of probabilities. Instead of if this happens then that happens, it's more like if this ...

Multi-Lot Multi-Timeframe Position trading

Personally, I experience two types of fear while trading. First there is the fear of losing money. That is a very real fear. If I lose all of my trading capital, it's game over. I spend my golden years as a greeter at WalMart or delivering pizzas. ...

Multi-Lot Multi-Timeframe Position trading

Yes, UJ obviously breaking out of it's range. I'd want to see UCad breaking above it's previous 2-24 high to get in, but it's close. There was no way for me to know EG short would do well. I simply went for the diversification in shorting the Euro ...

Multi-Lot Multi-Timeframe Position trading

Fun With Trendlines How low can it go? image IF it makes one more trip to the bottom channel, that would be another 400 pips.

Multi-Lot Multi-Timeframe Position trading

So, what do you think of this? UCad Daily image UCad H4 image I see attempted breakouts from this wedge formation with strong rejections of the attempts. Note that all the attempts have all been on the long side. IF (and that's a big IF) oil ...

Multi-Lot Multi-Timeframe Position trading