Catorpega

The plan is 'TO LOSE WITH PRIDE'. Where I live, there is a small group of 'dry stone wall specialists' . They build and repair these kind of walls. Thousends and thousends of different shape and size stones put toguether end up in a very harmonic piece of art. They work on every one of these stones, reshaping them where needed and place them where they were planned to be. If a stone that has been modelated breaks or splits, is put on the side untill a new place is found for it and a new stone will be worked on to carry on with the overall plan which is to build a dry stone wall. In the trading business we have to work on every trade as what it is,,,, a new trade. The market scenario changes very frecuently and we must decide if we are capable to use it in our favour before that scenario 'breaks'. When we are in a trade (hammering and shaping a new stone), anything can happen (the stone can break). We, traders, must know when to give up on that trade if things go wrong (put that stone on a side) and look for other opportunities (look for a new stone to work on). Normally we would look for setups that we would be comfortable to work with; setups that we have worked on before with good results,,, good results dont always mean profitable trades but being able to put on the side those 'stones' that broke at the last minute before they could be placed succesfully. A 'stoner' knows that if one stone is too big comparable to the rest of the stones compounding the wall, it will outstand the rest and will break the harmony planned and that placing too small stones will take them forever to finish the wall. A trader should know that putting a too big of a position could make a negative effect on their work at the end of the day. Using too small positions wont make them enough money at the end of the day either. I rather make many small trades along the day; in fact, I make over 150 trades every day using my automated trading system on different Pairs and make over 2000 pips daily. My plan on every trade is very similar. Its a matter of trying to be near the market price as much as I can in order to exit the trade with a small gain or otherwise with a small loss. A loss doesnt hurt if I feel I have done a good job as I know that I will recover that loss in the next trade or two. There are thousends of methods that a trader can choose deppending on his/her personality and also deppending on the market scenario the trader has chosen to work on. A trader should never try to guess the direction of a market, rather, he/she should have a clear view of what will be done at any time while in a trade. In my case, after I enter my position, I dont have to worry if the trade goes my way and closes with a profit. I dont have to worry if a trade goes againts me either.... in these cases I just 'put the stone on one side' and will use it when the time is right,,, today, tomorrow or next week. The position size is of most importance here as ('a too big stone could break my back if I tried to lift it off the ground and carry it a long way'), if too big, it could be stoping me from placing new trades along the day and miss the opportunities given by the markets to make money. If a broken stone that has been worked on is left too far behind, the chances of being used before the wall is finished vanish away,,, it would probably cost more to try to reuse it than just use it as rubble and work on a new stone. A trader must know when to give up on a trade before it becomes harmfull. If one learns how to lose money it becomes innate to consistenly make it. Good trading! Catorpega President of Club Catorpega (Traders Club) some 'dry stone walls' paret seca - Buscar con Google

Hi all,, I preffer trade without indicators, I dont need them, altho, I can use a couple of them very efficiently, like the WCCI or the MACD(4,5,13); both pattern oriented. I use RangeBars for my charts. The size range varies from 1 pip to whatever size needed to adapt accordingly to market conditions. My method is pure simple technical analisys; higher highs= buy, lower lows=sell. Im experimenting with a demo and use low risk management. The results are incredible and I would like to invite you to view my trades live and give me your honest opinion. By the way, I have 9 very hard years experience in this trading world. This is the URL to view how I trade https://www.gotomeeting.com/join/230311986 You may have to give me a knock; the room is not always open; I have my own work to do too other than trade. Catorpega