PTT Method (Profitable Trend Trading) in Forex
greeting,
Introduction:
I've been a lurker on Forex Factory for years but just didn't post much because I didn't want to dump a trading system on the forum that may or may not be profitable but doesn't cover all aspects of trading: philosophy, methodology, money management. I've been reading, testing various systems, and learning everything I can.
In this article I plan to share some of the things I have learned over the years and then I will provide a system that I have just started live trading with. BTW, I only backtest and then trade live, I don't demo. There are two reasons for this; first, simulated trading and real trading are different. The emotions associated with real money are non-existent in the demo version. 2. Using Oanda I can trade "live" with literally 1 unit, which is one-tenth of a cent per pip. This means that a loss of 1000 pips would result in a loss of $1.00 (one dollar).
A final bit of housekeeping in the introduction:
I have nothing to sell, nothing to promote and monetize, and absolutely no way to take your money from anything I post. While I do recommend some resources, these are just books and topics that have been helpful to me; I in no way profit from any of the resources I recommend.
The above stems from my distaste for some threads that start out as useful threads but, over months and years, have to be moved to the commercial section because it turns out that the originator of the thread has something to sell or promote and make a profit from. I have neither. I never will either. I simply do not believe that any type of trading education needs to be paid or charged. Others disagree with me, and that's fine, but I'm just saying, for me, I would never try to sell or promote anything that I could profit from in any way.
So my post will look like this:
Second article: Holistic philosophy.
This is the most important post. Before looking into a trading method (or system), it is important to understand the trading philosophy. Your trading approach should be derived from your trading philosophy.
The third article: methodology.
Just as the Apostle Paul first laid out the theology and then the practical manifestation or practical application of that theology, so my second post will provide a working method that meets the requirements of a good system, based on the philosophy we laid out in the previous post.
Article 4: Resources.
Here I will recommend books that changed my trading life, as well as various topics on Forex Factory, and I will even include a great YouTube video from one of the greatest trend traders of all time that sums up the ideas and methods of trading very well.
So let’s move on to the second article.
Introduction:
I've been a lurker on Forex Factory for years but just didn't post much because I didn't want to dump a trading system on the forum that may or may not be profitable but doesn't cover all aspects of trading: philosophy, methodology, money management. I've been reading, testing various systems, and learning everything I can.
In this article I plan to share some of the things I have learned over the years and then I will provide a system that I have just started live trading with. BTW, I only backtest and then trade live, I don't demo. There are two reasons for this; first, simulated trading and real trading are different. The emotions associated with real money are non-existent in the demo version. 2. Using Oanda I can trade "live" with literally 1 unit, which is one-tenth of a cent per pip. This means that a loss of 1000 pips would result in a loss of $1.00 (one dollar).
A final bit of housekeeping in the introduction:
I have nothing to sell, nothing to promote and monetize, and absolutely no way to take your money from anything I post. While I do recommend some resources, these are just books and topics that have been helpful to me; I in no way profit from any of the resources I recommend.
The above stems from my distaste for some threads that start out as useful threads but, over months and years, have to be moved to the commercial section because it turns out that the originator of the thread has something to sell or promote and make a profit from. I have neither. I never will either. I simply do not believe that any type of trading education needs to be paid or charged. Others disagree with me, and that's fine, but I'm just saying, for me, I would never try to sell or promote anything that I could profit from in any way.
So my post will look like this:
Second article: Holistic philosophy.
This is the most important post. Before looking into a trading method (or system), it is important to understand the trading philosophy. Your trading approach should be derived from your trading philosophy.
The third article: methodology.
Just as the Apostle Paul first laid out the theology and then the practical manifestation or practical application of that theology, so my second post will provide a working method that meets the requirements of a good system, based on the philosophy we laid out in the previous post.
Article 4: Resources.
Here I will recommend books that changed my trading life, as well as various topics on Forex Factory, and I will even include a great YouTube video from one of the greatest trend traders of all time that sums up the ideas and methods of trading very well.
So let’s move on to the second article.
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