I get asked every now and then to share my trade ideas with the new currency traders out there, and while it’s really flattering and makes me feel special, I’m hesitant to do it.
Why? Quite simply, because everyone will hate it.
My Forex trades will lose everyone money because my win/loss ratio sucks. In a profitable way.
The problem is that if you follow my trades it’s highly likely you’ll hit the 3/5 that lose, and if you miss either of the winners you won’t make a dime because my system works like this:
Trade 1 – Lose
Trade 2 – Lose
Trade 3 – Lose
Trade 4 – Win enough to pay for 3 losses.
Trade 5 – Win profit.
Obviously, these trades are in no particular order and there is no guarantee of a winner after 3 losses – which is a shame, because if it worked that way I’d be famous, we’d all be rich and could live happily ever after on our own sunny island.
Another issue that contributes to my
silence mystery is that my entries won’t really make sense to anyone who doesn’t understand my method.
Everyone loves “Buy $EURUSD, because it’s sitting on support after completing 3 waves down, Europe is about to open, the 61% Fib is doing its thing and 68 stars have aligned in Botswana”. All the reasons why you should take action are right there, clearly laid out.
But I trade a system that doesn’t care about much at all – except price.
So it’s much more likely that I’ll say, “Buy $EURUSD - because I am!”.
I’d be about as educational as a black box.
Because I trade a whole system, the entry is a very minor part of the equation. My profitability doesn’t depend so much on my entry as the management of the whole trade.
If I’m calling entries, I’d also need to call out initial stops, every trailing stop movement and the exit too – and quite frankly I’m not going to do that because I’d rather go do something that’s actually fun.
But in the interests of being kind, sharing my ideas and participating in community, here’s a question for you all – if you aren’t looking for opportunities to buy the Nasdaq in some way, shape or form, why the heck not?
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