Secrets of your broker - page 5
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This is where the secrets of your trading system rather than of the broker's one come in.
I do not regard my trading tactics as a secret. Please, repeat it if you like.
I know for a fact that 99% can't do it. And those who can, it's no secret to them. Those who can profit from the Market are tough nuts. They have their own personal TS. And they do not need it when they look at others and they take the necessary (or interesting) one.
It's more the secrets of your trading system, not the broker's.
I wrote above that if one is itching to trade, for example to buy a pullback in a general downtrend (instead of selling it), which means trading against the main trend, then a physical stop to limit losses is necessary and obligatory. Because it is impossible to calculate when the pullback will end. It can be seen already on the fact. Suppose I buy a pullback. The price moves and it is followed by a hard physical stop (or Trailing Stop). What is wrong with that? Rather the opposite. In this case it is necessary.
If I am selling a pullback (in a general downtrend), which is a trend trade, then a stop to limit losses in this scenario is inappropriate and even harmful. Why is it needed here at all if the pullbacks are being sold...
Even if the price "jumped" by a false pullback, and, having hit my Sell Stop, continued to correct, it does not scare me. Because there is a possibility to increase the potential profit, having tripled the volume. Well, how much longer it will roll back...? We don't know exactly, but we know that not for a long time (in terms of the main trend).
If the forecast is correct. If the trader believes in his prediction. If the trader is psychologically prepared, he/she does not need stops. Small volumes in each of the individual positions allow them to grow through drawdowns. Even if slowly, but methodically, the trader will take all of the 100% movement with very tangible results.
I don't usually make my job that difficult. My strategy allows me not to think too much about entry, exit and trend direction, the main thing is to always be in the channel, in my channel. And now the price has just exited it, which makes me upset, because I have to pay for the channel widening, otherwise everything will burst like a soap bubble.
Of course, every single trader thinks a lot about what tactics to use in one case or another. Any normal trader tests on demo accounts and draws conclusions. And I tried to trade in the corridors. It's good when the corridor works, like now in USD/JPY on 4h timeframe... But... If you think about what happens when the price leaves the boundaries of the corridor, feelings may be very different. Up to and including "self-destruction". I don't like incurring losses. Of course, there is no getting away from them. But still, I try (in my opinion) to use the safest tactics. First of all, it is trading in the trend according to the postulate: "Trend is your forend". I have seen many times that open positions were taken out feet first. I do not like to worry about the wrong move. There's nobody to blame but yourself. It affects my psychological state a lot. So slowly but surely. In fact, there are not many (few) tactics (strategies) which allow you to come out a winner as a result. I'm not chasing profits. I am chasing the results. A knowledgeable trader understands how many dangers are on his way. Here broker, small deposit, trader himself (his psychology), false attacks of the market... A whole book cannot describe everything a trader has to face. That's why they need analysis of themselves. And there's nothing better than personal practice and discussion of topics with "fellow party members". All the more so because in real life there are few of us. Us, those who challenge all other bidders. In real life, and not everyone can say what you're into... They'll get the wrong idea. God knows what they'll think. So it's better to keep quiet. And here, on the Net, there's a lot of us. And we all want the same thing. So this is where we "meet" and have "heated" discussions.
Of course, every single trader thinks a lot about what tactics to use in this or that case. Any normal trader tests on demo accounts and draws conclusions. And I tried to trade in the corridors. It's good when the corridor works, like now in USD/JPY on 4h timeframe... But... If you think about what happens when the price leaves the boundaries of the corridor, feelings may be very different. Up to and including "self-destruction". I don't like incurring losses. Of course, there is no getting away from them. But still, I try (in my opinion) to use the safest tactics. First of all, it is trading in the trend according to the postulate: "Trend is your forend". I have seen many times that open positions were taken out feet first. I do not like to worry about the wrong move. There's nobody to blame but yourself. It affects my psychological state a lot. So slowly but surely. In fact, there are not many (few) tactics (strategies) which allow you to come out a winner as a result. I'm not chasing profits. I am chasing the results. A knowledgeable trader understands how many dangers are in his way. Here broker, small deposit, trader himself (his psychology), false attacks of the market... A whole book cannot describe everything a trader has to face. That's why they need analysis of themselves. And there is nothing better for this than personal practice and discussion of the subject with "fellow party members". All the more so because in real life there are few of us. Us, those who challenge all other bidders. In real life, and not everyone can say what you're passionate about... They'll get the wrong idea. God knows what they'll think. So it's better to keep quiet. And here, on the Net, there's a lot of us. And we all want the same thing. So this is where we "meet" and have heated discussions.
You should be writing books, honestly. I don't mean any offence by any means. But I think you're exaggerating a bit. And it looks like you've got it all mixed up in your head. It's like a self-preservation instinct. Maybe not even consciously. Actually, it's a lot simpler than that. There is you and there is the MARKET. People trade with robots, almost scalpers pips, trapped, and with subscribers hooked up. And you talk about shenanigans of brokers.
99.9% of trading systems, like yours, can be automated and improved as you get to know the MARKET. And you don't get nervous waking up at night and waking up to your alarm clock :)
I don't understand what kind of "mental" SL is this?
If we are so afraid of a broker, any programmer will write an owl on "virtual" stops for 10 quid. The trader draws a line on the screen, the owl closes. If necessary, the owl will close. What is there to stare at the screen?
If you're really paranoid about brokers "spying" in your terminal, make a bunch of lines, name the required line with the right name, and the robot will recognize it as an SL.
Psi. And on the topic of the topic - yes the broker doesn't need to make anything up. The majority of traders, and beginners even more so, by their own actions drive their deposit into a pit. Most traders and beginners themselves are driving their deposits into the pit by their actions.)
I once asked a question to a broker when I was young about knocking down stops, and got an answer like:
The broker does not have to do anything, people's greed will give the money to the broker by itself.
https://www.mql5.com/ru/forum/40293/page2
Yes, and water is wet and sugar is sweet. And there's no point in writing so many letters about it.
"When it rains all the time, you have to learn to walk in puddles." (С)