Failed forex strategies, opinions and reasoning. - page 9

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Lilita Bogachkova:
Explain how you determine the TP distance if you have the same criteria for 10 pips and 100 pips to enter.
I do not understand, what difference does it make - whether it goes to 30, 50 or 100. The main thing is to let it go, and then we'll see).
 
Do you expect to lose if you only enter the market because you are bored of waiting?
 
Lilita Bogachkova:
Do you expect to lose money if you only enter the market because you are tired of waiting?
As a rule, yes. If you draw some analogy, trading is like fishing. You need to be able to patiently wait for the moment when the fish starts to "bite". That is, there will be a market situation where the conditions for a deal will shift the probability of a favorable outcome in your direction.
The mistake most people make, including mine, is trying to enter the market here and now, trying to assume only "up" or "down". And that is the completely wrong approach.
 
BlackTomcat:
As a rule it is. If you draw some analogies, trading is like fishing. One has to patiently wait for the moment when the fish starts biting. That is, there will be a market situation in which the conditions for the transaction will shift the probability of a favorable outcome in your direction.
The mistake most people make, including mine, is trying to enter the market here and now, trying to assume only "up" or "down". And that is the completely wrong approach.
But a random entry involves a 50% chance that you entered correctly, the price moves in the direction of the set TP.
 
Lilita Bogachkova:
But a random entry involves a 50% probability that you entered correctly, the price moves towards the set TP.
Nope... :) Or let's just say I disagree. :) Yes, price may move towards your TP, but that is no guarantee at all that it will reach it. Although from experience it may reach it, but on what time interval? You can set the TP in such a way that it takes years for the market to get there. But the SL, if it is set, of course, will be reached much sooner.
Proper goal setting shifts the probability of a favourable outcome in your direction. But in terms of the long-term success of the entire strategy, you must also consider the possible losses, and if they are greater than the profit, then the strategy is doomed.
So here we are: looking at the potential target, estimating the possible loss, based on that we determine the direction and possible entry point, considering the alternative scenario, i.e. what we will do if the price does not reach the target and turns around. For the alternative scenario, if it involves a stop and reverse, we also determine the target, the loss, the entry point.
In general, every trade has to be planned, and that planning doesn't just include "up" or "down".
UPD: About the 50 percent on entry you're basically right, but once you've already entered the trade, that's where the options come in. If price has gone in your direction, the probability of a favorable outcome will increase (in general, the closer the TP is to the current price, the more likely it will be reached), but if price reverses, the probability will begin to decrease.
 
BlackTomcat:
UPD: about the 50 percent on entry you are basically right, but once you have entered the trade, then there are variations. If the price went in your direction, the probability of a favorable outcome will increase (in general, the closer the TP is to the current price, the more likely it will be reached), but if the price reverses, the probability will start to decrease.
So forex is a lot like fishing - if there is no bite (no pending order reached) there is no cost other than your time. But if there is a bite it all depends on your fishing strategy, and your cost is equal to the loss of bait and your time.
 
Lilita Bogachkova:
It turns out that Forex is much like fishing - if there is no bite ( pending order has not been reached) there is no costs apart from time spent. But if there is a bite, it all depends on your fishing strategy and your costs are equal to your time and bait lost.
I agree, that's probably the reason why many pros trade pending rather than from the market. If you continue with the fishing analogy, trading from the market is about like trying to catch a fish with your hands. :)
But actually, I, for example, go into deals from the market. But really, I think it's an amateurish approach. Sometimes you can catch a moment when you can make a better entry from the market than you would if you had a "pause". But more often it happens that this is not the case.
 
Limiters from the levels have to go in.
 
khorosh:
Limiters should enter from levels.
Why not enter from the market at levels?
 
khorosh:
Limiters from the levels have to go in.
This is all a moot point! Who trades the way they do it?
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