It's just a interesting.
I have a old friend. He's called Fofo also.
We meet very long time ago.
If you are this man, please call me on my phone.
The magic word for the contact: "DoubleDJ".
If you know the number for this word, you can get everything secret key for the magic forex, what I learnt in the last 5 years, otherwise: sorry.
I was away a bit. I will post a catch up information, but I have been started a combine. 10 days 1500USD profit target. No big deal. This is day 1. Rules are simple. Make the trade, if it is reasonable, and looks good from market structure perspective. There are no hard rules, magic indicators, or anything. I am using some levels, and MACDBB, and I added the heinken ashi chart type just to stay out me from trouble. So I am looking to enter only doji bars = price reaction confirmation, and that's all.
Today was pretty simple. The plan was to short the YM, we were all time highs, some pullback should happen. No major eco news today, it is monday. If we are shooting up, than I will have chances to enter anyway, so I was w8 for the first turn point after the open to go short. 2 mins passed, dojis were coming, and I was going for short. Target was 35 tick, why not? it was around the close, could have hold a bit longer, but I was justifing my idea, the market will not do turn immidietly go up. So I was getting out on the 2nd push down, and I call it a day.
So that was my thinking. It was a good plan and a great execution, I do not feel it to push more...
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So here is a short recap after december. I have been closed my live account because of I was went back to zero (or close to zero). So I have been recieved 2 freeride from topsteptrader, and during the xmas break I have been executed those 2 account in notime, with no plan, and no string to attach to trade or win anyway.
So I have been started to looking for holy grails again, blaming myself I am doing something wrong/something good, or I dont know. Searching again for guiding light, or crystal ball... So I have been downloaded the bloodhound software which is a great great great stuff I can tell. Unforcuneatly the free trial has been over, and I do not have any capital at all to buy it, but I truly believe it has been gave me a big change. (for 1 month I was using it all day and all night I can tell). So I have been put every trading idea, magic indicator patterns, magic levels and things, and find an edge on the market. Really I have been tried everything from A - Z, from fibonachi to MacdBB from market profile, to patterns, for bigger timeframe trend identification to volume vacuum. I also put my already bought indicator into the system to test them (I do not want to name them, but there are som)
Result? Great great edge on short terms, with good configuration. Meaning: Any indicator could give you great result, if you are tweaking them for 1 year, or 2 years and you are playing with the numbers. Like using 8Range bar, with EMA 19, will give you a huge edge on pullback on market Z. But when I have been started to backtest for the last 3-7 years backtest data (ES, CL) they all fail, and gave you zero edge. I was starting to pissed off. Really. Speaking frankly, I have not find any programable edge, on the market. Nothing. When I was putting everything reverse, it was the same result. No edge.
Ofc you do not have to believe me, I am just letting you know what is my overview right now. So if there is no edge, than how can you be consistence and profitable.... oooo.... oooo what are those fucking expensive training for.... hm...
The question is good, and I do know there is a lots of discussion about this on futures.io (formerly BMT), and I have to credit to all who said the holy grail is you. You do have to follow some basic understanding rules around your trading, but at the end, you are making calls based on market strutcutre, and your experience on the market. And this is your edge. You can make a call anytime, and anywhere, but if you are not able to beat the market with your view, more than 50% of the time, you will fail. And how can you do that? I do not know. But I do believe it is there.
So what is the bottomline here than. If my idea is true, than I can trade without any hard rules. I am not able to find out all the time, if I am entering a trade for a reversal, than the reversal will be a pullback only, or it will be a left shoulder, or it is the head already, or the right shoulder. After it happens, it will be very easy to see, where was the good spot to trade, but before the only thing what I can decied: Is it worthy for me to take this trade (enough room to get my profit, and good stop loss location). Is there any chance to work this trade out (we are not the middle of nowhere, or in the news etc...). And at least is there any slight price reactin which is justifing the call, and I can enter with a good price.
If all yes, than go for it. Simple.
So I have been dramitacly changed my setup. I am monitoring the ES, and the NQ during my trades (not for comfirmation only to see is anything is ou of ballance). And I am using big levels for bigger moves, and fib levels for range moves. If the location and the price pattern make sense (I am using heiken ashi doji, it is simple sign to the price is getting reaction on that area) and the move make sense, than I go for it...
So I have been accapted that trade is an art, and we will see am I good in it or not...
EDIT: I do not want to hurt anyone feelings. This is my view my observation, which is changing over and over again. I do not believe I am right or wrong but I do believe sharing is a good thing!
Horst basic idea, is to train the mind to see good trades. The method is not the key, it is a tool. If you are checking his page, he is talking about this a lot. System wise his primary focus on Russel, and I do believe those things what he is searching for is more likely happaning there, than on the YM, but the concept is the same:
- Decied the bias (system will give you the hints: consolidation, trending, or what so ever)
- Spot the right level - sweet spot (system will give you hints where to spot it)
- Wait for a pattern (system will give you the hint what it is)
- Execute and manage the trade (system will give you the method how to do that)
What is Horst saying is the same, what I am saying. Teach your mind to learn these things and enter the trade with a right direction. And do not forget. I am still here, I can still make good calls, and trades, and all the basic learnings was comming from here. How to develop, evolve your way is up to you... I still believe he is a great start, and also a consistence great trader, but it will up to you and not him to being successfull or not...