Profiting From Failure: The Wash & Rinse Trade, Part II ...

Read Carefully Experts!

This may appear to be a noob question, but read on carefully and please try and understand the point I'm trying to make! I'm hoping your answers might be helpful to people both learning Forex and looking to get into it, so please don't hate on me for this post.
I am relatively new to FX and have learned about break and retest strategies, MACD crossovers and stop losses below structure and risk to reward ratios (usually going for 1:1 or 2/3:1) and so on. I say this only so you know I've a general (very basic) understanding of charts, price action etc.
I definitely do NOT expect to step into the markets and instantly win a majority of my trades, however, to illustrate my thoughts please note the example below.
If I am winning 2% on a winning trade and losing 1% on a losing trade (2:1 reward risk per trade), a strategy that wins just 50% of the time trading once per trading day would be +10% each month. (10 days of -1%, 10 days of +2%). +10% is a HUGE increase in accounts and if a $1000 account was +10% per month for 12 months the end of year balance would be over $3138.43 or a 213.84% return!
This leads me to a theory that almost NO system can be returning 50% on a 2:1 reward risk, even with careful trade selection (let's say I monitor the 7 major pairs, gold and GBP/JPY as I do and pick one entry a day) Am I wrong? I appreciate it is a hypothetical example designed to make a point, but my thoughts are if you monitored lots of pairs and took only ONE entry a day, we might expect to win 50% of the time.
Let's expand this further. I have seen numerous algos (can't name them but looking like they win at LEAST 50% of the time) which tempt me because they appear to indicate moves I could jump on and where I could pull a bunch of pips out of the market. However, there surely cannot be a holy grail or are people making this type of insane return? It cannot be as easy as buying an algo, signing up to $300,000 worth of FTMO funding and earning 10% per month for an easy $21,000 per month income with profit share. Or maybe it is and I'm just cynical?! I end up getting tempted by courses etc. in the hope that if I spent £400 on a good course it would open the door to what I need to do, but I'm nervous this is just another huge mistake.
I genuinely would love to trade Forex for a living. Really I would. I hope it's possible and I hope to learn a strategy I can wash, rinse and repeat. I love watching videos and live streamers who seem to have a great understanding of what's going on but I wonder if it's really possible. It seems a million miles away but I'm determined to keep learning and trading.
Reading your considered thoughts to this post would be helpful for me and I'm sure others and thank you for reading it.
submitted by mal4291 to Forex [link] [comments]

Act Like You Are Trading Large Trading Positions This Is How I Trade The Forex Market Everyday wash n rinse stop hunting TIME TRAVEL TRADE PART 2 WASH RINSE REPEAT BITMEX THE LEGEND Wkly Round Up thru Dec 7th 2019; Wash, Rinse & Repeat 60 Celsius Cotton Wash W Prewash + Extra Rinse

Wash, Rinse Repeat. Let’s repeat this cycle one more time. After our 8th trade we have $1,122.94 USD in our account. Upon losing our next 5 trades, at 2% per trade, we have $1,015.05 USD. While this is more than we started with, we still have 3 more winning trades to go. On our last 3 trades we gain an additional 7.5% per trade. After our averaged out 7.5% win on the last 3 trades, we have ... And who knows how long this can go for. They did it again. The cup game. It's like throwing a darts at a dart board to see which market sector they're going to go after on any given day. So it looks like they did weaponize QQQ/AMZN yesterday to get us over the line. And they held it. Even last night in the futures market /RTY was up a larger percentage over it's bigger brothers. TradingView India. washnrinse — Check out the trading ideas, strategies, opinions, analytics at absolutely no cost! A good move to memorize as it repeats often. Update: search this on YouTube "Charts show investors shouldn't be 'too exuberant' after Tuesday's rally, Jim Cramer says" from cnbc channel, he talks about stock market usually but this time about Bitcoin, this rally is just not sustainable all across the board, lost job reports come thursday and the world will see again how fucked we are thanks to ... Appetite for Forex Trading is Surging ... This Wash & Rinse pattern marked the start of a two-year bull market that added 125% to the value of the Spain Index MSCI Ishares (EWP). In November 2013, the nearest-futures coffee contract clipped the 2009 Financial Crisis low of 101.60. The market recovered before the week was over. Little did anyone know that the Wash & Rinse buy signal off the ... Also it acts as a Wash & Rinse of previous highs and 0.5 level itself. You’ve warned me about this possible scenario, and as I already know – W&R itself is a pattern. So, I think I enter short here with stop loss above the high of Shooting Star – according to rule of trading candlestick patterns. Should the 2016 low get breached, followed by a reversal, a Wash & Rinse buy signal might be worth trading. The recent drop in industrial metals has hit the stock prices of the producers pretty hard. Olympic Steel (ZEUS) is one of those companies currently feeling the pain. ZEUS bottomed out with the main market during the Presidential election. The low of the correction was established at $17 ...

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Act Like You Are Trading Large Trading Positions

This is literally how I look at the forex markets every day. I get a signal, then I check my charts, then I look for a direction, then I enter my trade. Wash rinse repeat. Broker I Use: KOT4X ECN ... Hey folks as this decade winds down and we move into another “roaring 20s” we have many different forces acting on current markets and price action. Welcome to our Weekly Round-up! Market ... As your account size increases, so does your ability to trade larger position sizes which, in a perfect world, becomes wash, rinse, and repeat. In order to do this correctly, you must trade like ... TIME TRAVEL TRADE PART 2 WASH RINSE REPEAT BITMEX THE LEGEND ... Rinse and Repeat Stock Trading Style - Duration: 8:50. KAF Investing 782 views. 8:50. STAKED WALLET PAYS YOU 8X INTEREST COIN BASE ... Stop hunting, when identified can offer you high probability entry opportunities. If you like what you see here. You are invited to join the public chat Its free! Watch ... 95% Winning Forex Trading Formula - Beat The Market Maker📈 - Duration: 37:53. ... 40 Celsius cotton wash w extra rinse - Duration: 46:31. Fredriksam 1 view. New; 46:31. 60 Celsius Quick wash ... how to use the trading tools john ftseman; 137 videos; 316 views ; Last updated on Feb 27, 2020; more tools to master such as setups, failures, multi pivot levels, diagonal and horizontal levels ...