Forex trading baby

Forex trading baby

Posted: Seohel Date: 18.06.2017
forex trading baby

One of the greatest books on trading I ever read contained no practical advice about the markets whatsoever but it described price action better than a thousand hedge fund managers ever could. But back to randomness. If we are honest with ourselves randomness is a massive part of market price action.

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And it is also the reason that I consider tactics to be much more important than strategy when it comes to making money day trading the market. My favorite tactic is what we in our chat room call, the Boomer entry, where we will enter the trade at one level and if it goes against us we will add to the position allowing us to exit the trade at the original entry rather than the original take profit.

I am breaking one of the sacrosanct rules of people who forex reclame aqui actually-trade-with-real-money-but-like-to-peddle-trite-theories-of-risk-and-reward.

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Yes of course, I am increasing my risk and capitating my reward. But instead forex trading baby having a religious argument about risk and reward I am an atheist anyway just do the following.

forex trading baby

Open a demo account. Place 50 random trades with 5 pip stop and 10 pip take profit then another 50 trades with 10 pip stop and 10 pip profit, then another 50 trade with 20 pip stop and 10 pip profit.

Because of something called path dependence.

In the bulls-t world of trading gurus where trend spotting is easy apriori and price moves linearly from point A to point B, using risk reward ratios is…obvious!

But in the real world where every price tick is subject to random variables the path is almost never smooth nor linear.

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On the other hand, our day trading tactics are designed for maximum possibility for success in a real market environment that is more like the undulating waves of the ocean, than the hard certitude of a concrete floor. Over the year these tactics have made me more pips than all my day trading strategies combined because randomness rules.

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