May God bless you, and I know already has. I can't thank you enough for your amazing direction and actionable motivation. Anything I can do to help you back then let me know. Keep up the great work VP I am daily acting out these lessons and very thankful!
As a brandnew beginner in FOREX I never understood the other "Gurus" praying that it is so important to stop your win! Everybody is teaching those ratio-things… Stop-Loss is ok, but cutting my potential win never sounded logical to me. Using those 2:1 or 3:1 ratios is preventing everybody from really playing the game and win. I can see now that this is really b*sh*. Stop-Loss and Scaling out is great! Thanks, VP, for the truth about this.
A good trend following system will allow you to profit on the trends while at the same time somehow mitigating losses on whipsaws. By using that rule of scaling out you are protecting your bottom line while at the same time allowing yourself to profit on trends. I really appreciate this information. Thank you.
Going over your videos again and again, drilling the principles in like life itself depends on it ;-)! I salute you sir, even in the far Belgium your student base is growing.
I feel like you might be the "Richard Dennis" of this century VP, and we are your turtles. If you read this comment, thank you for teaching all this valuable stuff, it is really life-changing, you are a good person.
VP, I am a new sub to your channel and want to say thank you. I have been trading on and off for 2 years with both live and practice accounts with some small successes and have been to some free introductory classes that have helped a little. However, just by watching 5 of your videos you have cleared up a bunch of the bad habits I have picked up on my own and the ones I was taught. I will start trading live again after go through the rest of your channel. Thanks!
thanx for your time! the least I can do, is to like and comment on your videos! I have been trading for 15 years and from I start to follow you, I have increased in my wins with over 40%. So THANX!!!
I've been doing 1.5 ATR Stoploss, 1ATR half profit, let the other half run. I stop if it crosses below baseline. HOWEVER. Sometimes a F YOU candle just comes down to my stop loss making me lose a ful 1%, which is a big big loss compared to the half-wins I get. Any solutions?
Every videos you make is so logical and practical! I couldn't wait learning every single thing you are about to share on this amazing channel. You are truly an extra-ordinary Mentor! God bless you more Sir VP!
Hey VP, wanted to start this comment by saying I am a huge fan of your channel and have learned so much from your videos. I rarely ever comment but I have watched all of your videos and still get excited when new ones come out. I wanted to write this comment to tell you about an indicator I have had a lot of success with that you have mentioned in one of your videos talking about trends. The indicator is Super Trend, you used it as an example of a chart indicator, thanks to you I tested the indicator and found that on settings 10,1 the indicator has a lot of success. It does have some false entries but paired with the other pieces of the algorithm it works great. I am currently using it as my primary confirmation indicator. I just wanted to thank you and share one of my great findings with you, hopefully you can add it to your toolbox.
I read most of the comments before I thought I'd throw in my $.02. I'll admit, I didn't think a video on ratios would elicit such a degree of polarization with regard to some of the opinions scribed herein. There were some who seemed genuinely offended that the very notion of questioning the "ALMIGHTY 2:1 RISK TO GODDAM REWARD RATIO" was sacrilegious and those who oppose it should be banished. I wonder if the point was missed...I apologize for this tome, but it's doesn't cost anything to try and help those who might need a little nudge in the right direction. 1) Trading any ratio is an all or nothing venture. It's basically binary - it either comes to fruition, or it stops out. Amen, period, and end of story. Most retail traders do not place multiple trades from the same price. It's not what we were taught, nor was it ever advocated by those who "teach". If you do, then you my friend, are an anomaly and Godspeed in your trading. 2) I have in fact, heard those discuss scaling out to some degree but many do not actually possess the discipline to take a preset portion of their trade off. That's greed a-knock'in - one of the two demons that will stymie your best efforts. Hence - place two (2) trades. Easier to take one off, mentally and emotionally. 3) If you trade an algorithm with a decent exit indicator, more often than not, it will signal you to exit a trade before you hit your stop. It's not personal. The market is not screwing with you. Take the trade off and look for the next one. Business as usual... 4) Why, why, why would you want to stop a trade in profit with a fixed (and arbitrary) point of profit? Lookit - I'm not trying to piss anybody off but seriously - think about it. "Hmmmm...the trend is strong with this pair, but I'm at my rinky dinky R/R ratio (which was probably based on a small stop from a support/resistance/trend/fib/pivot/imaginary line) so I'd better take my rinky dinky profit. After all, nobody went broke taking money off the table, right??" Hells bells...I'd rather be smart about it and *A* Use an exit indicator to get out. *B* Initiate a trailing stop at some point after moving your stop initially to break even with a number that works well for you (I've played around with some real killer indicators that calculate a trailing stop based on ATR. Fucking awesome runs, in my humble opinion). *C* Watch volume for signs that the trend may be entering a consolidation phase or a counter trend reversal and tighten your stop in case price decides to back over itself. Protect yourself, and your position. If you are from the R/R ratio camp and it works for you - carry on as usual but I'd imagine you're intelligent enough (since you're here listening to these podcasts) to admit that this concept has exceptional merit. Try it on a trade (demo account please) and see how it does. Peace, out.
When I first found out about Forex I wanted to learn about it but I couldn't afford the classes. Your videos made me learn a lot and I dont think i'll nothing in those classes compare to what you've taught me.. my Win rate is getting pretty good and with my stop loss on point. I am becoming profitable. You doing this for free should be illegal lol Thanks bro
VP you are the best ... If I knew this when I started trading my trades would be totally different.... I am still watching and consuming all the content and applying them and I can not imagen the improvement I am in so far .... Thank you thank you million thank you
Now I can understand the difference between real Traders with 15 to 20 years experience and the junk traders. They speak for to get earn money from educational courses but in real they are looser traders. Love from Pakistan
hey VP! you should consider making a Telegram or some kind of community chat where the community could talk to each other. I think it will thin the number of basic, and repetitive questions for newcomers. It's great for people discussing ideas and helping each other especially newbies.
I really do have a question. For someone with less than $5,000 to invest, how would you recommend we enter the market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What’s your take on this approach?
WOW JUST WATCHING THIS VIDEO AND LEARNING ABOUT WHAT YOU SAY ABOUT BREAKING MY TRADE INTO 2 IS EXACTLY HOW I TRADE AND BOTH OF THEM WIN ALOT OF THE TIME. I KNEW I HAD A POWERFUL SETUP I CREATED I JUST DIDNT HAVE CONFIRMATION UNTIL I LEARNT ABOUT SENTIMENT. I CAN NOW USE MY TRADE SET UP TO PLACE ACCURATE DISCAPLINED TRADES ALL THANKS TO YOU. I SO UNDERSTAND THE WAY YOU EXPLAIN THINGS ITS SO SIMPLE BUT FOR YEARS I STRUGGLED DOING THE THINGS I SHOULD NOT HAVE. I NOW ONLY USE A HIGHER THAN USUAL MOVING AVERAGE CROSS ON A SUPRISING LOWER TIMEFRAME AND ALONG WITH DAILYFX I CAN NOW PINPOINT MY TRADES. I WILL DEFINITELY GIVE CREDIT TO NO NONSENSE FOREX WHEN I SHARE WHAT I HAVE LEARNT. ABOUT BLOODY TIME IS ALL I CAN SAY LOL. I HAVE WANTED THIS FOR LIKE ALOT OF FAILING TRADERS THAT NEVER GIVE UP YEEEEEEAAAAAAARRRRRRSSSSS LOL
If you realize you won those trades when the AROON hit 100% not when it first cross over you are not using it right plus change the settings to 3 or 7 for faster entry
Thanks for all the info given to us...how psychologically are you prepared to see a pullback to breakeven or even a loss after being 100+ pips in profit.. ?? maybe SL is moved to breakeven and it's not a loss.....but... what about the time invested in that trade?.. maybe 2 weeks if we trade the daily chart? Is it wise to return profit to the market?? Man How do you deal with that??
Ok VP i m new made some mistakes. But now i m watching every video again second time. Made 8 trades in 2 days and are still running at the moment and 6 off them are profit already... man thank you! Best regards
Hmm - your views are always stimulating, but here I can't agree. The fixed ratio TP you criticise is naive and a bit of a straw man. Properly applied, a fixed RR can work well - and perhaps better than more complex management schemes. Like you, we trade trends, not reversals. With our backtesting, we explore all the money management ideas we can dream up, and take the average RR ratio of the best. Then we compare that equity curve with a simple fixed TP at this average ratio. So far, we haven't found a situation were the complex money management outperformed the average fixed ratio approach in terms of profitability or variance. Not to say that it isn't there, but we haven't found it. Yes, you miss the occasional big trend, But in compensation, you catch more of the much more common smaller trends. You can't catch big trends without giving the trade a lot of room to move, which pretty much wipes out your profit on the small trends - profits you can catch with a fixed ratio TP. And with a re-entry strategy, you often catch as much or more of the big moves in any case. We've seen this result duplicated by other algo-oriented backtesters. Some of these people are very serious traders with mathematical backgrounds who have done extensive studies of different approaches to trails and scaling. So far we have never found a serious trader offering hard figures that show a complex management strategy outperforming a properly calibrated fixed TP. And where trading is concerned, we are always drawn to the simplest viable solution. And as active traders, we have FAR larger sample sizes than you could ever achieve using day-bars, so we have reasonable confidence in our results. My aim in writing this is to urge your viewers to keep an open mind and test for themselves rather than taking your assertions on trust.
VP is a generous hearted man and a great pro trader; But you are right. There is a lot of ways to trade not only the way of VP's. Sounds like "my way or no way" type of teaching.
Great video however trying to catch the 600 pips as retail traders is almost impossible. So much shit can happen within those 600 pips. Most retail traders should stick to small gains because of the volatility of the forex market.
I have been watching and reading everything from VP my trading is going from poor trader to getting better trader , I am now a day trader and since I have done this from VP advice I only trade at 940pm till 10pm and consistently make 600-800 pips daily
Your video about crypto point to your management playlist as well but how the HECK can we follow it if there is no calculable pip value for BTC...? Got wrecked last year and really would like to get back in the game without the same mistake... heeeelp..... x)
As he encourages us to make our own trading system, it wil be very difficult for the big banks. He does not give the system itself; only the structure.
The problem with risk to reward ratio mainly is it forces you to put a stop loss at certain places and guess what, the bankers know the most common risk to reward ratios meaning they know where the stop losses are and they will drive that sucker right towards them all day long.
Please do you know the name of the indicator VP USED as exmple I hv been looking for it please if u do help A friend Thanks VP FOR YOUR CARE WE APPRECIATE
The Aroon Indicator (often referred to as Aroon Up Down). You have to tweak the setting until the cross matches the entry or exit point in the trend. It is set to 14 by default. That setting sucked. But I played with it until it matched the beginning and end of trends. Boom.
i risk between 25 and 40 pips (calculated with a piece of my algo) with a 100 pip TP so i guess thats 4:1/2.5:1 . when the trades hit 50 pips i move SL to entry and let it run. actually works phenomenally well in conjunction to trend
It's probably the first time i comment on youtube but men you made do it i've been watching your videos for 3 Days from the first video and writing notes and Never skip one video and all i can say that you're a LEGEND thank you and i really appreciate your work ❤
Discovered this Chanel a week ago, since then all my free time has gone in watching it and i don't have a lot of it. @ this point i feel like a water filter letting all the great tips thru and filtering the shit out. Have learned a lot more in this week than slowly figuring it out by myself for the last year. Thanks VP! Your a legend.
i think this is the most important video youve ever made. This is pure gold. This is what separate a breakeven trader from a 1%er. You are unique. Thank you
Once again man thank you. This should seriously be one of if not your top video. This with proper risk management seems like a sure thing just by itself.....not that I'm about to just flip a coin but still this is powerful stuff.
your way of telling all this things is so refreshing. :) So bad, that I found this channel so late. But I already took the lessions on your site and made a new setup with your advises BESIDE my trading. Just for curiosity.... I will inform you about my experience.
Anthony Crudele says support resistance doesn't matter ..or Adam Grimes; put random lines on the chart; go back; they will coincide ultimately with a h/l ..yeah; I don't know; .. sure, people use them for breakouts; then we got false such, majority of them fail ..but the ones that don't :)..yeah; this is this; when they don’t, look out..power of the breakout .. Volume confirms yeah but how useful is that in forex ..well, as a proxy CME Group volume has overtaken interbank volume now; so .. This is why they said on the floor (CBOT); the ones that survive a year, break even ..are the ones who’ll make it ..Thanks VP (lights coming on) .. he’s the first/only guy that’s actually giving me a shot working my a$$ off ..
a two to one or three to one ratio you don't want any part of those you don't want all of those pips. Well somebody else is gonna have em, well that somebody else is me cause I'm gonna take em...😂😂😂
AND BY THE WAY THERE IS NOTHING WRONG WITH THE 2:1 OR 3:1 ETC AS IT AINT THE RATIO THAT MATTERS BUT THE % OF HOW MANY TIMES 1 WINS WITH 1S SYSTEM OR SETUP
Just going through your videos from the beginning and I've got to this point. I've been trading for 25 years, I've won and lost but never was consistent. It's testimony to my love of charts and my burning desire to never give up. I've read Michael Covel's trend following book over and over again but never had a hard and fast rule based trend following system. For me, this video in itself is worth it's weight in gold and is a real game changer as far as I'm concerned. You should be right up there with the turtle traders, Bill Dunn and Ed Seykota and your value is more important because you are a teacher and a guru. Thank you for doing something that no one else is doing. Ash
Sometimes you need to know when to give up, if your going on 25 years and still haven't made decent profits than it's possible its not for you and don't waste another 20 years
25 years?? 💀⚰️ I'm finding profitability and consistency after 1 year and 4 months. So you've been unsuccessful at trading for longer than I've been alive.
Interesting, my main question after watching this is... Why scale out when you can set a trailing stop loss? Seems like that would allow a good way to exit without worrying about losing profits. Maybe I'm thinking of it incorrectly.
I am enjoying your videos VP. Thanks for making them. I have a question. In the pairs the big banks don't mess with, wouldn't support and resistance be valid? There isn't a big player manipulating the market?
Here's my free tip to everyone - reverse engineer your trading algorithm. Take a sample trade like the D1 EURUSD shown in this video - than add/subtract/tweak your indicators until YOUR indicators get you into and out of a trade just like that, without getting into all that noise crap.
This is based on the Turtle trading system, they would only hit the jackpot one out of ten, when they did hit, they would have massive runs, this is why its imperative not to miss a trade oportunity.
VP I see your point regarding using Ratio in the trading. I also see that lots of traders misunderstood of how and what for Ratios should be used. Actually, Ratios is a confirmation indicator and the rule tells: "Do not trade if you have at least 2:1 or better P/L ratio." It does not say take/cap your profit at x2 times of SL.
That's why you backtest with a RR of 1:1 and try to have at least a WR of 67%-68%. This way you have a longterm profit of 68%*0.5 - 32%*1.0 = 2% (100 trades). This is just for fees and spread. The real gains then come from trending markets where you scale out.
OH MY GOODNESS 🤣🤣 this video almost took me out... I was trying to cook and doing just fine until you mentioned the one piece of broccoli eaters 🤣🤣🤣🤣🤣 this was hilarious but yet it makes so much sense! 👍🏼👍🏼👍🏼👏🏼👏🏼👏🏼👏🏼
JUST A QUICK QUESTION WHAT IS THE INDICATOR YOU HAVE AT THE BOTTOM THAT LOOKS GREAT ON A DAILY CHART :) GOT IT aroon up and down indicator "NOT BAD JUST HAVE LOADED IT TO CHART BUT NOT SURE IT WOULD HELP ME BUT IM SURE IT WORKS WITH YOUR SET UP FOR SURE CHUR :)
Every good trader I know scales out. There's a few that will say you're shitting on your gains and that's their prerogative. But even the guys I know who slay it and I mean just shit money scalping stocks and crypto scale in and out of trades in some facet.
A little surprised to see the aroon here. A favorite of mine. Its is profitable if used the right way. It is quick to react and if put a low setting like 3 or 5 you can get extreme early signals. Problem is there will be too many of them. I guess there are better inficators out there, but for now it does a good enough job for me.
I am disappointed i did not find you sooner! I recently found you on the Apples Podcasts earlier this week, currently on episode 19 and I am now going through youtube to. Listening to the podcasts when travelling, cooking etc. Watching the videos in the afternoon. Thank you for sharing VP, you are very good at explaining things. Thank you :D
Thank you. Ratios using most of the dirty dozen tools have battered my trades and my trading psychology way too much. Not any more. Thank you, Patrick.
