Consequence Pilot Level Trading - MT4/MT5 Resources

Consequences EL Transactions

Trade price consequences...in other words, follow price like a bloodhound to grow winners.
Just follow the price and burp through the trade, which will automatically keep you within 5M of short TF in the current direction.
With this approach we only look for short-term gains until the daily target is achieved and the platform is closed.

Details...

All you need is your two pairs of eyes, a few horizontal lines to determine your next entry, and some common sense.

Early Levels (EL) ... Every time there is price hesitation and a 2 candle retracement, you get a tradable level... You have to trade only the earliest developed level and quickly void the previous one. You have two options for drawing the EL... You can draw it at the low or high of the candle (as shown in the image below) or at the close of the candle. I personally use both depending on market conditions and the size of the wick...but mostly I use the close.

There are no indicators of any kind to indicate anything..like where the trend might be or will be or turn or whatever, too much analysis on scalping is irrelevant if you ask me...the snipers will eventually get clipped, haha.

Goal ... I'd like to gain 5 points over time, unless the price is extremely generous and gives up more on some spectacular move.
Stop ... I want the average loss to be no more than 5 pips... The goal is to lose no more than 5 pips on average.

Therefore, no fixed targets/stops of 5 and 5 are set in order to give the trade the necessary space and time to avoid falling victim to premature exits. However, emergency hard stops away from hot spots are necessary, i.e. 20-30 pips... and the stop loss must never go beyond your opposite pending order, so that you avoid getting into a hedging situation... One trade times out, and there are never two open trades at the same time... This will keep you safe from getting into a large losing trade, thus acting as an eliminator.

This is a very practical way of trading with visual stops/targets that requires real scalping skills to achieve fast but balanced thinking, feeling and reaction.

The plan is a quick bank clean winner, period...anything shorter than that sequence is considered a sign of weakness at that level at that time...which prompts survival seeking gaming behavior to exit for minimal damage or break even...yeah, all manual babies.
To give you an idea of ​​a failed trade, it looks like: A big move on your position quickly after the trigger, or a 5 or more move on your position quickly after the trigger, or a trade that just spends too much time in unresolved emotions before taking any action...these are signs of weakness at the top of the list that indicate exiting, exiting the trade and looking for the next trade.

This post will show you how to improve these skills through my live playing, complete with a small TE for review etc.
I have been trading this way for a long time and some of these tips and strategies have been presented and used in my scalper threads that some of you may have followed in the past.

Well...the daily goal is 15 points...go for 15 points every day and don't give up until you get there. On the other hand, if you lose 20-30 pips, it would be wise to stop trading for the day.

MM ...I strongly recommend not risking more than 2%...for beginners, go as low as 1%. A well-skilled player with a small account can risk more, but no more than 5%, the risk is 1% on a large account... I personally risk 1% on my large accounts, and for a small account like TE the risk is 4-5%.
The calculation is as follows: Balance x 1% / Average loss = pip size ($1000 x 1% = $10 / 10pips = $1 or 0.10 lots).. Now the average loss varies from person to person... My losses at worst were no more than 10pips, usually around 5pips.

Pairs ...I only trade EU for various reasons...low spreads, faster fills, higher liquidity factor as a leading forex pair, more reliable moves, and more importantly, sticking to a certain pair for better focus to develop the feel/feel required for skilled trading.

News Updates ... Pay attention to major EU red news... Trading is prohibited for 10 minutes before and after the price stabilizes... Before the news is released, if you have pending orders, you should delete them... If you have ongoing transactions, I recommend closing them.

Working hours ... EU open to close.

...and last but not least the good ol' filter coefficient ...it's useless and I wouldn't use it directly. It only creates second-guessing, confusion, complexity, and worst of all, it takes away from simplicity without much benefit. Please don't bring it here, this is a zero tolerance state.

Last but not least, please always be respectful...don't argue, don't taunt, don't nag, don't whine, don't curse, don't mess around...Trading is a serious matter, treat it like a thing...On the other hand, a positive, humorous, overall energetic attitude and activities are fully recommended and welcomed.

Oh, almost forgot...a little bit about me...I am an outspoken crier...but also someone who is funny and loves to keep it real.

I think I've covered most of it... Welcome to my thread.

greeting,
empire

vocabulary:
EL = E Early E Entry L Ef.. QCW = Q Uk C Lean W In.. DO = D Ally O Pen.. DG = D Ally G Or.. FO = F Ack O ut.. MM = M Ony M Management.. DB = D Ally B Reeves..

My Money Market/Trading Philosophy…

The currency market is a market of constant change and sudden changes...movements happen randomly, with no sound logic or structural factors behind them, period...this is a fact at least for short-term trading. Hedge funds, banks, the major players who use all the money in the world to invest for the long term and have access to a lot of advance information will be viewed as a different game than the average retail trader.

Therefore, I don't value probability or market sentiment...there is no advantage in basing a market philosophy on such. Advantage will ultimately come from the skill of manipulating the market. I take current trades... current price is reality... so following the price will free the trader from all kinds of analysis paralysis stress that ultimately breaks the trader.
I will definitely take advantage of the opportunity at the earliest price and be aggressively defensive in the event of a false breakout. I will participate in any and all market conditions without fear of failure because of my defensive skills. I would not treat one signal any differently than another or one market condition, S/R area, S/D area, etc...perception is reality...no nitpicking, they all present the same amount of opportunity for success and failure.
By keeping price action unchanged, I felt I had the best chance of winning in this market as long as I had a solid trading plan in place. There are two main benefits to trading in this fashion...one, being guaranteed to be on every breakout in the market so you don't miss any winning moves...two, developing this strong sense and sense of the market to make better decisions in the heat of battle...that is, the more persistent and involved you are, the more intuitive it becomes.

Therefore, as a follower, you can look forward to and learn several main elements, most importantly as the core.
1- Learn to attack and defend in all early level (EL) breakthroughs
2- The courage and ability to trade in all and any market conditions.

Important posts to read as the topic progresses:
http://www.forexfactory.com/showthre...48#post7743448