howdy folks, been working on a tweaked version of the efx method and am finally having success, i am letting some trades go without a stop loss. since i do that i grew my demo account by 4.5 k. gonna keep testing this way, to see how it goes over a few months, then we will see. it's been amazing feeling to actually make substantial gains over time. the negative side is that you  are risking your working capital and it might get eaten if some major event kicks in. but if you are taking a regular income from the working capital and lose it once in a while it won't matter much, you just replace it from winnings you withdrew previously. 

 

does anyone know when Theo is planning to do the US session outlooks again?

Hi koeart,

hope things are going well with you, i thought it was time for another update on my long term project of become consistently profitable. so here goes....

first, the no stop loss experiment has officially ended. lol.

 

it was going well, but then i had 3 long term trades closed on me because they were open too long on the us 500. they got closed heavily in loss. so basically i am right back to half my 10 k account, which is a tad more then i had when i started the no stop loss system. so yeah, this is not for me. i will have to knuckle down and keep gathering experience in the EFX method. did have a great day today, but for some reason i still can't produce regular profits in the demo account. the strange thing is that i can get any back testing session to profit and build and build the account, but when things are slowed down to real time i always screw myself.

 

so yeah, still need more experience to be better at trade selection. if i'm honest i think i't largely a problem with discipline at this stage.

some nice  moves on the eu today, quite a few of those moves were opened from triggers on the m33 size 10

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got a couple of nice US open trades on both the AUDUSD and the EURJPY. EJ is still running, but i think it should make the tp at this stage 🙂

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i'll be heading off shortly so thats it for my trading today unless something really clear shows up very shortly

 edited to add:

and it turns out i should have let the audusd run to tp too. it was close and i didnt feel like risking the made profit. the ej gave me more confidence and it hit the original tp. very nice risk reward trade.

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good way to start the week 🙂

had a trade running from yesterday on the eu that didnt make it, but i did get a break out on the gu to work today. it broke out on the map, not on the trigger chart.

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i also managed to catch a nice ej buy today.

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been a good week so far, not many trades but more wins then losses.

 

edited to add a few hours later:

managed another nice continuation buy on the GU, i attempted the sell, but it triggered against so i went for the buy closed at close to 1 to 2

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Howdy henkknot

 

i am not using an ea, just the basic EFX method that Theo is teaching. to be honest, i'm still learning. i have good phases and alas i still have bad phases. so i'm not in any position to help anyone regarding forex trading so far. maybe soon i will consider it cracked, but so far i'm still not profitable on a long term basis. i have gotten to the point where i do know the system quite well, but i still lack the experience and discipline needed to trade all 3 trades well. i'm considering stopping to trade break outs and 3 point turns and only go for continuation set ups. those are really the best, maybe i will also limit them to ones with a potential for 2 to 1 RR. i am wondering some times if i need to switch to real money account to stop myself doing risky trades just to be doing a trade.

 

anyway the video course Theo offers here is a really great basis for someone to work out a system for themselves to make use of the information provided from Theo's many many years of experience in the live forex market. i can only recommend it, there are many hours of video lessons that start at the very basics and end up at the fast level trading that Theo trades at and everything in between. even while being a member here the course has been growing new ideas for trading even an automated trading ea is being continuously improved.

Hey Koert,

 

really nice to see you around.

 

yeah i'm still practicing, not spending so many hours a day on it at the moment, but i still check daily for us open trade and look in from time to time for other trades.

been up and down last 2 days, got a eu sell open right now that should put me ahead for today, but only if it works, lol.

 

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