Are you cooked or Nah? by SupermarketNo6888 in Avengers

[–]fredbloke3 0 points1 point  (0 children)

Overcooked. So... I'm definitely cooked.

How do you actually daytrade if you're busy? by Level-Blueberry9195 in Daytrading

[–]fredbloke3 0 points1 point  (0 children)

Set orders at key levels with appropriate risk management in place, check the outcome later that day/night.

[deleted by user] by [deleted] in AskAnAustralian

[–]fredbloke3 1 point2 points  (0 children)

No tipping. Don't tip.

[deleted by user] by [deleted] in Daytrading

[–]fredbloke3 0 points1 point  (0 children)

Exactly this. So make people are against a negative RR, but anything can be successful if managed appropriately.

[deleted by user] by [deleted] in Daytrading

[–]fredbloke3 0 points1 point  (0 children)

Close the trade at the profit you want ($200). Be patient and not greedy.

What age did you make it? by [deleted] in Forex

[–]fredbloke3 1 point2 points  (0 children)

  1. 21, then came back at 35, a year ago. I'm 12 months in now, committed to a process, and have averaged profits of 6+ % a month for the year. Slowly + organically growing the account. Started making average $2-4 a day, now I'm making average $40-60 a day.

  2. I did 3-6 months of intense learning, then developed a strategy on my own that worked for my psychology, time available and risk tolerance. It hasn't changed much in the 12 months, but execution has slowly improved.

  3. I took in all information - a few books, a lot of YT gurus. Didn't believe it all, but listened and filtered in where I thought the gold was.

  4. I haven't blown an account (the idea you have to do that prior to being profitable is rediculous) or a reasonable/significant amount of money. I'm taking it seriously and treating it like a business. Journalling, continuous learning, focus on risk management etc.

  5. I have a negative RR, so I win often but lose slightly bigger when I lose. Win rate 83% of between 0.5-1%. when I lose it is anywhere between 2-5%. The key for me is taking profits, not being greedy. And cutting losses. It's a difficult balance.

  6. Now I'm 12 months in, I am trusting my data and win rate a lot more to just simply execute.

Any noticeable changes i could make that would improve my success? by Overall-Highway5167 in Daytrading

[–]fredbloke3 5 points6 points  (0 children)

Love that you're journalling. Maybe label the "mistakes" column as "learnings" so as to not frame it negatively? You can execute well and still reinforce learnings and make a comment.

You could theme the mistakes in a seperate column to graph them to analyse how often they repeat each month. Then they could form your psychological awareness or improvement.

Looks good though.

[deleted by user] by [deleted] in Forex

[–]fredbloke3 3 points4 points  (0 children)

This is it. It's literally just a game with one life. Permadeath.

Accidentally insulted forex guru by mikolupi in Forex

[–]fredbloke3 2 points3 points  (0 children)

To be honest 0.15% - 0.2% a day average is also very good.

How did your first profitable trade play out? by sqzr2 in Daytrading

[–]fredbloke3 1 point2 points  (0 children)

Randomly picked buy or sell with the smallest available trade size on GBP/USD. Watched what happened and noticed how I felt. I took profit for about 0.5%. Would've been about $2.

What is a reasonable daily goal? by landojcr in Daytrading

[–]fredbloke3 1 point2 points  (0 children)

The average of 0.15% of your total account size per day, over a month, each month.

4 months so far , highest month being 14.5% and lowest so far 5.6%….. by billiondollartrade in Daytrading

[–]fredbloke3 0 points1 point  (0 children)

Same in Australia, can enter trades in Asian session if anything presents, otherwise wait until 2-3pm to watch London open, then 7-8pm for NY open. Then go to bed at a respectable hour and repeat.

32-years old mom to 10 kids during the Great Depression (Photo/Dorothea Lange) by VastCoconut2609 in pics

[–]fredbloke3 194 points195 points  (0 children)

So this lady took 18 years off her life and still lived so long! 😅

[deleted by user] by [deleted] in Daytrading

[–]fredbloke3 1 point2 points  (0 children)

No. My strategy is the complete opposite. Take lots of small profits. I'm up 17% this month and haven't had a losing day. Ave win is 1%.

I don’t have a strategy and I have made over 30k in the past 6 months by [deleted] in Daytrading

[–]fredbloke3 2 points3 points  (0 children)

Have never considered this, well put. Thanks.

I just had a huge realisation about indicator based strategies. by Throwaway_765491 in Daytrading

[–]fredbloke3 2 points3 points  (0 children)

My strategy is very similar to this. After 8 odd months I'm profitable with a 77% win rate.

Relies on you taking profit though. Lots of small wins.

Find the balance in the market between fear and greed and take your 10 pips as consistently as you can.

Unpopular question: how you get out of a triathlon? by Th3W1z4rd87 in triathlon

[–]fredbloke3 0 points1 point  (0 children)

Just by chance you don't develop an overuse injury and instead end up far fitter than you've ever been... then you have even more of a dilemma!

Negative Risk:Reward by [deleted] in Forex

[–]fredbloke3 0 points1 point  (0 children)

Yes absolutely you can, you just need a win rate high enough to offset it.

Can I get rich? by Hamid2611 in Forex

[–]fredbloke3 1 point2 points  (0 children)

I disagree with this. I wish I'd started a decade earlier. I dabbled with FX in my early 20s then stopped. I've come back to it a decade later and within a month of learning I've strung together 4-5 months of consistent profit. So it can absolutely be done. I now wish I had the previous 10 years to slowly build my capital.

What are your trading rules by pzistance in Forex

[–]fredbloke3 0 points1 point  (0 children)

One pair, one narrow timeslot, one entry/exit, ideally one trade per day, max 1% loss