Jump to content

Next High Impact Market News Event:
Retrieving events...

Toggle shoutbox The Traders Chat Open the Shoutbox in a popup

@  traderpusa : (18 January 2019 - 06:49 PM) Good morning
@  traderpusa : (18 January 2019 - 08:53 AM) ah no, 1000 seems possible
@  traderpusa : (18 January 2019 - 08:52 AM) @Sambo. Check the lot limit on brokers, and you have your answer
@  ishan007 : (18 January 2019 - 06:45 AM) Candles hide and conceal patterns...THEY want you to focus on the candle, not the candle components. The candle patterns are used AGAINST us. Who do you think is creating those candle patterns? You see what they want you to see because they give it to you. Go back and look at those inverted pennants. One is a BULL pennant, where PA tanked out of it. Once they cleared the stops and shook out the strong positions by showing you a polar opposite, they took it back up. What you see is what they want you to see. DON"T EVER FORGET THAT. Candle patterns is the mortar that covers their bricks.
@  Sambo : (18 January 2019 - 05:45 AM) he was probably full of shit, but just would like to hear peoples opinnion on why that wouldnt be possible
@  Sambo : (18 January 2019 - 05:45 AM) he traded 2.5 lots per 1000 of his account...had a very exact counter trend entry point, didnt use a SL but instead hedged each trade at 11 pips underwater...which completely freed up his margin. He then would open his next position when he got a set up and closed the losing trade when the current trade exceeded it in profit
@  Sambo : (18 January 2019 - 05:42 AM) https://gyazo.com/ae...71ba968d6b2b929
@  Sambo : (18 January 2019 - 05:42 AM) Hey guys, does anyone remember a guy on FF called Dancingphil? i always assumed he was a scammer but i'm wondering what people think about his idea of large lots trading with hedging money management and why it wouldn't be possible in theory?
@  calcalex : (18 January 2019 - 05:05 AM) @gelsas get in touch with me I can make you accounts if you wish
@  nkotb6 : (18 January 2019 - 02:52 AM) @darkhorse check your private message
@  muyanja : (18 January 2019 - 01:19 AM) goodmorning everyone
@  thi4gon : (17 January 2019 - 08:59 PM) hello
@  traderpusa : (17 January 2019 - 06:51 PM) Good morning
@  darkhorse : (17 January 2019 - 04:28 PM) who can you open up an account with in the UK now that this ban is currently in place? any recommendations?
@  sangoldline : (17 January 2019 - 11:09 AM) moderator not coming online for few days?
@  ishan007 : (17 January 2019 - 08:39 AM) :D :D
@  traderpusa : (17 January 2019 - 08:37 AM) yeah, it's just a habit. unlearn bins, unlearn candles, learn again lol
@  ishan007 : (17 January 2019 - 08:33 AM) yup traderpusa u r correct bro but i am just used to see candles for last 1 year so i am just finding little complicated anyway its just matter of time before i get used to bar chart too
@  venkatredy : (17 January 2019 - 04:15 AM) hi traderpusa
@  traderpusa : (16 January 2019 - 08:49 PM) hi andreyt


Should I Ditch My Trading Method? – Part 2

  • Please log in to reply
2 replies to this topic

#1 analyst75



  • Members
  • PipPip
  • 62 posts

Posted 19 May 2016 - 04:26 AM

“Trading can be a matter of probabilities. Sometimes you'll be at the right place at the right time; at other times you won't. That's all right. If you are consumed with perfection and finding the ultimate trading opportunity, you will often miss the trades that are right in front of your nose.” – Joe Ross


Developing a Winning Trading Method 

There are repercussions to be experienced when using a certain approach. You have to think about various market conditions when creating a strategy; otherwise you would end up being frustrated. So what you need to do is to look for proven and time-tested trading setups.  You would not only need to create a speculation approach that works in the long run, but you would also need to use it flawlessly in particular market conditions. This is what would let you appreciate the merit of such trading approach.


  1. Your method needs to respect the dominant bias. Many veterans of the markets who have developed numerous trading strategies agree that they prefer to pick trades in the direction of the trend.


  1. Honestly, it would also be helpful if the method can detect when the dominant bias would be coming to an end or when it would no longer be logical to follow it. This is the real secret behind consistency.


  1. Define your entry points which stack the odds in your favor. For example, it is better to buy a pullback in the context of an uptrend or sell a rally in the context of a downtrend. This allows you to set optimal stops and targets. Buying a rally in the context of an uptrend may cause you to get stopped out before the price has the chance of moving in your favor.


  1. You must always give yourself an RRR of 1:2 or 1:3. This ensures that you make money with only 40% or less hit rate. Then if your hit rate is 50% or above, how happy you will be!


  1. It would be very difficult for you to sustain a huge roll-down on your account if you risk only 0.5% or 1% per trade. This also means that your losses are small and easily recovered.


  1. Of course you continue to trades every new setup as long as you are winning. When your losses exceed a predetermined amount, you may stop trading for the day if you are an intraday trader, or stop trading for the week if you are a swing trader, or stop for the month if you are a position trader. This is the best way to avoid continuous losses in a losing streak. By the time you resume trading, it is probable that you would stumble on a winning streak. For example, I stop trading for the month if I go down more than 7%.



It is normal to become emotional after a losing streak. However, veterans remain calm in a losing streak. They believe in their strategies. They simply know that a winning streak is around the corner, and they remain faithful to their trading rules. This has become their second nature, so easy. This is not easy for noobs who tend to ignore the realities of trading.  Market wizards experience losses triumphantly.  You too need to use subtle approaches and recognize great trading opportunities.


According to Jack Schwager, if you asked most people to categorize good trades and bad trades, you would find the answers to be quite simple… If it makes money it’s a good trade, and if it loses money, it’s a bad trade.  That’s not true at all…


His quote ends this piece:


“Any approach will give you instances of winning or losing.  If you have an effective approach, you will hopefully make more money than you lose.  If you take a trade that follows your process exactly (whatever that process may be… fundamental, technical or otherwise), and if that trade loses money, that was not a bad trade.  It’s only a bad trade if you deviate from your process and lose money.  I would go further and say that if you deviate from your process and make money, it’s still a bad trade.  People have to differentiate between trades that are consistent with a winning strategy, and trades that are inconsistent.  That’s the mark of good and bad trades.” (Source: Thoughteconomics.com)

#2 Crave



  • Members
  • PipPip
  • 22 posts

Posted 26 March 2018 - 06:57 AM

If a trading method is a bit out-dated or it doesn't work anymore, it's better to change it. Or fix something about it and try again. 

#3 WanbutHits



  • Members
  • PipPip
  • 34 posts

Posted 20 May 2018 - 12:46 PM

Trading requires determination and consistency. You will not be successful if you are rolling stone. But if you are trading for a while and not found success, you need to change your trading method. Find a method that suits your requirements.

0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users

USA REGULATION NOTICE: There are many binary options companies which are not regulated within the United States. Most of these offshore companies are not supervised, connected or affiliated with any of the regulatory agencies such as the Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA).

It is our STRONG opinion that you do not operate with any unregulated brokerage firm as they may steal or try to scam you out of every dime you have. Please take notice that any unregulated trading activity by U.S. Citizens should be considered unlawful.

Risk Disclosure: Binary Options Edge does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes education material, price quotes and charts, and analysis. Please be aware of the risks associated with trading the financial markets; never invest more money than you can risk losing. The risks involved in trading binary options are high and may not be suitable for all investors. Binary Options Edge doesn't retain responsibility for any trading losses you might face as a result of using the data hosted on this site. The data and quotes contained in this website are not provided by exchanges but rather by market makers. So prices may be different from exchange prices and may not be accurate to real time trading prices. They are supplied as a guide to trading rather than for trading purposes.