Plutonite's Trading Manual - MT4/MT5 Resources

Hello everyone!

Now I'm back in civilization, just as promised by many who asked through the afternoon and elsewhere: super astrology, crystal ball witchcraft chartists making lots and lots of money based on planetary movements, starry nights on the beach. After trading some very large lots for friends over the past few weeks (and having been live trading myself for almost a year), I think I've gained enough confidence to come here and actually talk about it, which is actually nothing new, as everything I've written here has been tried, except maybe a wrong understanding of how to apply this "combination".

This will be a very brief series covering the mathematical/probabilistic reasoning, market psychology, and other methods by which I judge the positioning of currency pairs, as well as other markets such as S&P futures. I've been trading virtually since my college days, when my computer science/engineering/geek colleagues and I discovered the wonderful markets that liquidity-hungry participants gave us access to. It's a paradise, isn't it? You make a trade and the market gives you a 1:1 chance to make money hundreds of times your bank deposit. But how much it will move and how long it will last, you have no idea...cue hundreds of trading books and schools...etc.

In the first few months I was completely exhausted from the indicator analysis that everyone goes through and quickly understood (as a software developer) the shortcomings of programmatic trading in markets where randomness is key. The global economy is different every day, the combinations of conditions are infinite, and those who do make money from market "holes" will never truly become rich.

After a lot of winning and losing and pulling, my friends and I went our separate ways, with half doing the martingale thing (which doubled their money, but not compounding; i.e. max profit stayed at around $10,000 per year) while I worked on my own ideas with the others (the ones who quit). I won't talk about my profits or post trades here just yet, but praise God I'm doing pretty well, especially in the last three months with over hundreds of trades, which means there's an obviously consistent approach at work.

Below, we'll write an article about probability, another about psychology, and maybe one about how to use other things in our free reasoning. Most of our trades are on large pips, usually twice the daily range of the existing currency pair. We won't be scalping or shooting for 10 pips because that's the work of the dirty little rats that roam the forex tunnels. The effluent of investment factories is always dumped on them, and they are always despised. Additionally, we will always consider the general direction of the market within the same time frame we are trading (usually H4) because trends, ladies and jelly babies, are your most beautiful friends.

I hope you enjoy it and learn how to trade with this information over the long term, seeing firsthand the difficulties and rewards. I also hope to learn from you because of all the market tips I read on this great forum. Now please have some coffee. Discipline is great and wisdom is king. here we go.