The Breaker Strategy - Trading Recent S/R (The Breaker Strategy - Trading Recent S/)
I want to approach this thread as logically as possible so that it is clear to new traders wherever they go. I'm not prepared to take bullshit from anyone. If at any time I feel like negativity, noise, and swearing are taking over the thread, I'll happily retreat to my Garden of Eden and make a trade for myself () - something I'm currently good at doing.
It doesn't matter who I am? Does it matter, haha! What can I do in the market to make money? This is a valid question and the main reason for this topic. I'm not here to sell anything, just to share my less than perfect experiences and strategic trading. This is more of a story about where I am in the trading game! I was successful—but not heavenly success!
Trading is bullshit! You must understand! If you're not prepared to take the bullshit - trading isn't for you. The markets can be time consuming and your money can be deposited into your account very quickly (if you allow this to happen). It tells you to get lost. It owes you nothing, it tells you nothing (in a sense it does), it neither loves nor hates, it promises neither up nor down. So my friends, if the market is a girl, you better not invest in anything, I mean anything emotionally, or torture yourself with it. OK!
Markets respond to only one thing - probability; probability here means a high likelihood of it happening multiple times. Therefore, having a high-probability approach and sticking to it is half the success of a trader. And you must understand that even your methods cannot determine which trades will be profitable. It just goes to show you that there is a good chance that a few of my campaigns will be profitable just by following me. It's simple: a high-probability approach doesn't tell you which trades are going to be winners, it tells you that by sticking with it for a while, a few of your trades will be winners (at least). My friends are only half of it.
The second half is money management: both are the most important. I do think there are two parts to money management. Risk management and trade management. I will elaborate on these later as more is added to this thread.
I want to make steady progress on this line. Most of the knowledge I will share is something I have accumulated from free sources - I have never paid a dime for teaching courses or workshops. When I started trading two years ago, I didn’t have the opportunity to find a mentor – and I still don’t. I screwed up my first account - $250. Practice trading for one month. Somehow live sweating worked better for me, but before going that route - I tried to learn everything there was to learn. After ruining my first $250 account I have been researching on the internet ever since to get the best knowledge and not bullshit. All the best knowledge I've discovered has led me to discover my trading self. The trading method you choose must depend on you and the trader. It must fit within your available capital. It has to fit your schedule and lifestyle. And let me get this clear: no method is perfect. A trader must understand his strategy and understand its strengths and weaknesses. Also in this industry, no one can hold your hand forever. Traders must demonstrate maturity, common sense and flexibility. A trader must be responsible for all trades he makes. It is also important that those involved in trading have enough patience.
Speaking of markets: I trade Forex. I only trade EUR/USD. I don't consider any distractions when trading - news reports, calendars, etc. I don’t want anything to mess with my thoughts and emotions. The chart will move the way it wants. I look at what the chart tells me. All the news I want is on the charts; all the speculation I want is on the charts. I stick to one trading time frame - 1 hour. I don't look down there. I looked at the 4 hour chart to get a general idea of what the market was doing - but that was about it. I don't use indicators or moving averages. Nothing but my MT4 trendline tool.
The trades I make may be price action in a sense, I don't know, I don't care - it works for me and I hope it works for you too.
It doesn't matter who I am? Does it matter, haha! What can I do in the market to make money? This is a valid question and the main reason for this topic. I'm not here to sell anything, just to share my less than perfect experiences and strategic trading. This is more of a story about where I am in the trading game! I was successful—but not heavenly success!
Trading is bullshit! You must understand! If you're not prepared to take the bullshit - trading isn't for you. The markets can be time consuming and your money can be deposited into your account very quickly (if you allow this to happen). It tells you to get lost. It owes you nothing, it tells you nothing (in a sense it does), it neither loves nor hates, it promises neither up nor down. So my friends, if the market is a girl, you better not invest in anything, I mean anything emotionally, or torture yourself with it. OK!
Markets respond to only one thing - probability; probability here means a high likelihood of it happening multiple times. Therefore, having a high-probability approach and sticking to it is half the success of a trader. And you must understand that even your methods cannot determine which trades will be profitable. It just goes to show you that there is a good chance that a few of my campaigns will be profitable just by following me. It's simple: a high-probability approach doesn't tell you which trades are going to be winners, it tells you that by sticking with it for a while, a few of your trades will be winners (at least). My friends are only half of it.
The second half is money management: both are the most important. I do think there are two parts to money management. Risk management and trade management. I will elaborate on these later as more is added to this thread.
I want to make steady progress on this line. Most of the knowledge I will share is something I have accumulated from free sources - I have never paid a dime for teaching courses or workshops. When I started trading two years ago, I didn’t have the opportunity to find a mentor – and I still don’t. I screwed up my first account - $250. Practice trading for one month. Somehow live sweating worked better for me, but before going that route - I tried to learn everything there was to learn. After ruining my first $250 account I have been researching on the internet ever since to get the best knowledge and not bullshit. All the best knowledge I've discovered has led me to discover my trading self. The trading method you choose must depend on you and the trader. It must fit within your available capital. It has to fit your schedule and lifestyle. And let me get this clear: no method is perfect. A trader must understand his strategy and understand its strengths and weaknesses. Also in this industry, no one can hold your hand forever. Traders must demonstrate maturity, common sense and flexibility. A trader must be responsible for all trades he makes. It is also important that those involved in trading have enough patience.
Speaking of markets: I trade Forex. I only trade EUR/USD. I don't consider any distractions when trading - news reports, calendars, etc. I don’t want anything to mess with my thoughts and emotions. The chart will move the way it wants. I look at what the chart tells me. All the news I want is on the charts; all the speculation I want is on the charts. I stick to one trading time frame - 1 hour. I don't look down there. I looked at the 4 hour chart to get a general idea of what the market was doing - but that was about it. I don't use indicators or moving averages. Nothing but my MT4 trendline tool.
The trades I make may be price action in a sense, I don't know, I don't care - it works for me and I hope it works for you too.
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