FX Protector - High quality scalping

[FX Protector]

Forex trading blog by FX Protector – THE NEW BEGINNING

Forex trading blog by FX Protector has been recently created with reason to engage and share my journey to the world, to retail forex traders and investors as well. As you might know trading forex is a very lonely business and i decided to change that. My goals are to develop a nice trading environment, to create strong trading community, meet new friends, surround with positive people and share quality articles, tips, videos, useful trading resources, technical analysis forecasts and much more about trading overall. The main interests of this trading blog/group are :

Honesty and sincerity
Positive and friendly relationship
Help to each other (especially in rough times)
Personal and professional growth to everyone

FX PROTECTOR - Forex trading blog.jpg

Am i professional full time forex trader?

No! I am still at the very beginning of this journey and I admit that, but i think we can go through that together, more easily. I am not yet forex manager nor full time trader and i am only moving back to live trading account in 2016 after 4 months of break. In that 4 months i was trying to figure out what kind of trading system i would like to trade and i have made my second forex day trading system. It is a trend following system. Otherwise…


More about I have set my three main business goals for 2016:

Focus on my trading 100% (i am still process oriented, money will come with delay)
Write trading blog as best as possible
At the end of the year i will maybe offer Trading signal and Forex PAMM account (or managed account)

Medium to longer term goals (2 years+):

To get 1 – 2 years of consistent trading history
To get all required licenses and certificates
To offer forex PAMM account
To offer forex signal via simpletrader.net
To become a partner with forexsignals.com
To focus on trading education (Forex trading courses, trading 1on1 mentoring, etc…)
To build a team and after that company for capital management, trading services and education
To get noticed by any hedge fund or prop firm
To show everyone that it is possible to become successful even if you come from middle class, high school education and little capital to full time forex trader, capital manager, mentor and leader. I want to show to everyone that everything is possible, no matter how hard it might look or be. There is always a chance!
Donate to people who need help
Share my knowledge and invest into younger generations (when i will be old)


Am i crazy?

Even if you think that i am crazy or naive about my mission and goals i must tell you that this is your problem. I am not afraid of failure, i am afraid of not trying hard enough and then regret that for the rest of my life! The big difference between me and most of the other traders is that they are trying to succeed, but i am grabbing the success. It is a must for me! It is a determination.The answer is yes, I am crazy!


Possible scenarios for 2016:
1. Good results with day trading system > after 6 - 12 months will probably add swing trading system (or not, depense)
2. Average results with day trading system > will stick to it and focus on it
3. Bad consistent resuts with day trading system (6 months) > then i will focus only on swing trading system and work on other topics related to trading (because of more time)

Why do you want to trade intra day instad of swing trading?
Because i like action! i was scalping for almost a year and switching from M1 to D1 timeframes would be deadly for me. Swing trading + daytrading/scalping yes. But only swing at this moment, NO! Only one system for the begining, i picked daytrading! Will see how it will perform. Time will show


Why don't you start trading day & swing trading system together?
Because if i want to succeed in any of them i need to focus only on 1 thing and do it over and over again. I will add swing trading later on.


FX Protector forex trading blog will hopefully be accepted well and i will do my best to provide as best trading performance and content as possible, tips, tricks and much more!

There is no content yet!
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Email : info@fxprotector.com
Website : www.fxprotector.com
note : I am not an expert in marketing nor web development or anything like that. I am doing whole this web and social network stuff because i have interest for that and i enjoy working on that beside trading. That's all

NOW PLEASE DO ME A FAVOUR!
FILL THAT SHORT POLL -> LINK Related mostly on Signal Copy & PAMM account!


Welcome everyone!

FX Protector

[nutkaze]

when is the signal ready? its been quite a while.

[beaumz]

Yes agree with arkoon, SL and low drawdown signal would be very popular indeed. Would be interested in following, best of luck fxprotector

[arkoon]

Hi, please offer us your signal! We need signals with SL ! Set and forget!

[FX Magician]

At home we are currently working around the house (new sewerage) for almost two weeks and while working i "luckly" got hit by excavator in the head last week, it was nothing very very serious but anyway...After that i was thinking about that accident and i figured out that if i would wear a helmet it would not be so bad as it was...And it is the same with trading... HELMET = STOP LOSS = PROTECTION ! Actually i understand whole this work around the house as a message, to get away from the old system and habits without stop loss and to start with fresh new mindset and trading system which i am developing. I am hard worker but this kind of hard physical work like that really grounds you...so many repetition with shovel, so many same moves...through this kind of work you really figure out that if you want to have something done perfectly you have to do the same move over and over again...and what is the bottom line? Trading is grinding, trading is hard psychological work!
Prevention is a MUST!!! You don't know when you will be hit by excavator next time, maybe tomorow or maybe never, but you DON'T KNOW!!! So WEAR/USE/HAVE PROTECTION (helmet/stop loss) ....this time i was lucky, but maybe next time excevator would give me fatal blow, it is the same with trading account...


Sometimes you need to be hit by excavator to figure out what is the actual purpose of helmet!

Nice post FX Protector

This is my helmet....

tumblr_m4tzeiSWPp1rqaaa8o1_1280.jpg

[FX Protector]

At home we are currently working around the house (new sewerage) for almost two weeks and while working i "luckly" got hit by excavator in the head last week, it was nothing very very serious but anyway...After that i was thinking about that accident and i figured out that if i would wear a helmet it would not be so bad as it was...And it is the same with trading... HELMET = STOP LOSS = PROTECTION ! Actually i understand whole this work around the house as a message, to get away from the old system and habits without stop loss and to start with fresh new mindset and trading system which i am developing. I am hard worker but this kind of hard physical work like that really grounds you...so many repetition with shovel, so many same moves...through this kind of work you really figure out that if you want to have something done perfectly you have to do the same move over and over again...and what is the bottom line? Trading is grinding, trading is hard psychological work!
Prevention is a MUST!!! You don't know when you will be hit by excavator next time, maybe tomorow or maybe never, but you DON'T KNOW!!! So WEAR/USE/HAVE PROTECTION (helmet/stop loss) ....this time i was lucky, but maybe next time excevator would give me fatal blow, it is the same with trading account...


Sometimes you need to be hit by excavator to figure out what is the actual purpose of helmet!

[BillHuppert]

After that I asked my self what is trading all about?
The answer is, it is all about managing risk.
FX Protector

Great post. This is the most important point for me.

Before you enter a trade you need to know "how much could I lose if the market moves against my position?"
If the answer is "I don't know" then you are in big trouble.

[yoyomoma]

Great Post FXProtector,

Wish you the best in your trading journey !!! (with SL ^^)

[ritetrader]

Hi, FXprotector

You have hit the nail squarely on the head as regards risk and the difference between retail and institutional investors. You have made some major decisions and I wish you well in your journey and I am sure you have good levels of interest for your copier accounts.

RT

Hello everyone!

Ok.. So as you all know each trader needs to find his own way to success and must go through endless educating, exploring, improving etc... and last few weeks was my turning point. I am thankfull to all the events which happen in last few weeks which put me back on the ground and understand the basics concept of trading. These events were :

1. TA blowed up an account (i must thank to TA and you Nick for such a good interview, it really open your eyes)
2. EUR/USD move up and Vipers DD (I was in contact with few of his copiers and i saw trough what psychological anxiety and fear did they go)..
3. I was in eur/usd short (on demo, testing some management) just before these huge movements, i closed it by felling because i saw too much momentum and closed it and few mins later there was a big bum...But what if i wouldnt closed it and what if i would be on real account? Only accounts with very very low risk survived that move...I asked my self..is it worth it to trade like that?? (keep on reading)
3. Many people i know burnt their accounts in moments...
4. A lot of EAs was done that day..
5. While traders with stop losses had 0 problems, Isn't that strange? If they were in EU or GN short their just had a normal loss..not worth to even mention these losses..

So these events actually fit all together in very short period of time and they were a sign for me to do something about it or it will hurt bad on a long run...

When I started trading i promised to use stop loss 100% and i was profitable but not as much as i want..psychologicly i didn't like around 50% win ratio...so i developed trading system without stop loss (subconsciously)..why? Because i didnt want to lose! I wanted to end each day with some green pips...I wanted to have 90%+ win ratio...And i made it, my system is still very successful. But what when trades will go against me? The biggest problem with system without stop loss is that someday you get into a position when your DD is too big to close it or hedge it (TA told that in interview!) If you make 1 - 3 % per month and you are in drawdown of 15 - 20%...Would you close it? Would you wipe 1 year of profits in moment? Would you hedge it and being for whole year in that DD? Most likely you will face another bigger DD while hedged trades....So recovery with systems without stop loss is not acceptable..admit that to your self!

After that i asked my self what is trading all about?
The answer is, it is all about manageing risk. Is hoping and waiting manageing risk? For me personaly answer is no.
It is not how much money/pips you make today, it is about if you will be able to come back tomorow and engage the market!

After that i asked myself what would i prefer more from psychological point of view, what would i handle better on long run?
1. Trading system without stop loss (very high win ratio, consistent profit, but danger to big drawdowns)
2. Trading system with stop loss, positive risk : reward (lower win ratio, consistent profit, but controled risk)

Answer is number 2!

Psychological preasure?
Uncontroled risk/ DD is much more psychologicly frustrating then having losing streak but controled risk...none is perfect but better to lose controled then uncontroled (personaly)
I really do not imagine manageing a lot of capital (investors, copiers) without stop loss...because market is never 100% predictable no matter what! (it is always 50%:50%, not matter who you are, where you are or what you have)

After that i asked myself why the hell we all trade without stop loss? Answer from most of the traders is because broker hunt your stop loss, ok...but i found out two different answers.. (keep on reading)
1. Because with stop loss most of the traders would consistently losing money
2. If broker hunt your stop loss and you don't have stop loss, what broker hunt then? And guys sorry to say that but answer is MARGIN CALL.

Stop loss should be your friend, once our stop loss got hit we should be happy that we successfuly proteted our account from greater risk then allowed...Not using stop loss is just an excuse..It is hard to admit that, with using stop loss we would not make money with our systems...

You know when next crisis or extreme move, natural disaster, any sort of attacks, war will come? EXPECT THE UNEXPECTED
When CHF jumped in january, If i know right if you had stop loss you got some money back, but if you didnt have it you got nothing....be prepared!

After that i realized that i don't want to call myself a trader, i want to call myself and be RISK MANAGER and use stop loss 100% and have positive risk : reward ratio...I knew that everything on the begining, but i was so blindly fooled by high win ratio and quick profits heeeh...Trading system without stop loss is like a really good friend who will stab you someday in your back...Maybe tomorow or maybe in next few months/years..You don't know when, but you know it will, for sure at some point of time. Would you hang out with such a friend? I would not!

And guys every serious investor/trader know that the first thing at trading is proper risk management...
Trading system without stop loss looks very interesting for retail investors, because they want to end each month in profit no matter risk/drawdown...no sense
Trading system with stop loss looks very interesting for proffesional investors, because pros know that it is better to have few controled negative months in a year then exposing their capital to uncontroled risk..

And the answer why 90% of people fail in trading is because they are not prepared to accept controled loss consistently...Losing is not fun part but it is crucial in trading. Trade is a trade, no matter win or loss!
Deal with loses, cut them! There will be another opportunity soon!

My name, FX Protector was created with reason to really protect money from everyone and trading system without stop loss is not the solution...I am currently developing day trading system with solid risk : reward ratio, fixed stop loss and take profit, proper risk,money and trade management. And behind that i will also run EA with max DD in case of some sort of issues.. So stop loss + EA...this is what i can call the protection!

I will still trade my system without stop loss but probably only for personal accounts because you guys do not deserve to feel the pain of drawdowns...I am here to protect the money, not to lose it!
When system with SL will be avalible to you? I don't know, will keep you updated!


Please have in mind that this is my personal point of view and may not be suitable for some of you!
I just want to share it with you because i think it might help you to see the whole situation from different point of view/angle...

Regards
FX Protector

[FX Protector]

Thanks for your confirmation!

It is not about how good trading system you have, but how good you are, with that trading system! This sentence tells us what you mentioned "psychological dimension"!
Through these events i learnt a lot and i am really thankfull!

Now i am moving forward

[Betatrader]

Really interesting post. Your informations and insight thinkings are interesting and can be very useful for wannabe true profitable traders. A lot of them don't understand that the main issue to become pro-trader is the psychological dimension (risk management is part of it. The entry, the indicators, the trading style are not very important).
It looks like you solved one crucial psychological bias : accepting the loss. It's cool, you're on the good way to become a true profitable trader. You will face another obstacles but this one seems to be solved (it can take time to understand it).
You are right, as a true profitable trader, you have to be an efficient risk manager and you have to always expect the worst from the Market. This is the role of the stoploss and it has to be used systematically to make money over the long run.

[FX Protector]

Stop loss = place more accurate price limit when our trading idea/setup is not valid any more...

Ok and now if i go long eur/usd and aim for 6 pips but price go against me 300 pips...Would you say that my trading setup/idea is still valid? Does setup visualy look still very promising and good?
Heh, guess not!

[FX Protector]

Turning point

Hello everyone!

Ok.. So as you all know each trader needs to find his own way to success and must go through endless educating, exploring, improving etc... and last few weeks was my turning point. I am thankfull to all the events which happen in last few weeks which put me back on the ground and understand the basics concept of trading. These events were :

1. TA blowed up an account (i must thank to TA and you Nick for such a good interview, it really open your eyes)
2. EUR/USD move up and Vipers DD (I was in contact with few of his copiers and i saw through what psychological anxiety and fear did they go)..
3. I was in eur/usd short (on demo, testing some management) just before these huge movements, i closed it by felling because i saw too much momentum and few mins later there was a big bum...But what if i wouldnt closed it and what if i would be on real account? Only accounts with very very low risk survived that move...I asked my self..is it worth it to trade like that?? (keep on reading)
3. Many people i know burnt their accounts in moments...
4. A lot of EAs was done that day..
5. While traders with stop losses had 0 problems, Isn't that strange? If they were in EU or GN short they just had a normal loss..not worth to even mention these losses..

So these events actually fit all together in very short period of time and they were a sign for me to do something about it or it will hurt bad on a long run...

When I started trading i promised to use stop loss 100% and i was profitable but not as much as i want..psychologicly i didn't like around 50% win ratio...so i developed trading system without stop loss (subconsciously)..why? Because i didnt want to lose! I wanted to end each day with some green pips...I wanted to have 90%+ win ratio...And i made it, my system is still very successful. But what when trades will go against me? The biggest problem with system without stop loss is that someday you get into a position when your DD is too big to close it or hedge it (TA told that in interview!) If you make 1 - 3 % per month and you are in drawdown of 15 - 20%...Would you close it? Would you wipe 1 year of profits in a moment? Would you hedge it and being for whole year in that DD? Most likely you will face another bigger DD while hedged trades....So recovery with systems without stop loss is not acceptable..admit that to your self!

After that i asked my self what is trading all about?
The answer is, it is all about manageing risk. Is hoping, waiting and adding new positions manageing risk? For me personaly answer is no.
It is not how much money/pips you make today, it is about if you will be able to come back tomorow and engage the market!

After that i asked myself what would i prefer more from psychological point of view, what would i handle better on long run?
1. Trading system without stop loss (very high win ratio, consistent profit, but danger to big drawdowns)
2. Trading system with stop loss, positive risk : reward (lower win ratio, consistent profit, but controled risk)

Answer is number 2!

Psychological preasure?
Uncontroled risk/ DD is much more psychologicly frustrating then having losing streak but controled risk...none is perfect but better to lose controled then uncontroled (personaly)
I really do not imagine manageing a lot of capital (investors, copiers) without stop loss...because market is never 100% predictable no matter what! (it is always 50%:50%, not matter who you are, where you are or what you have)

After that i asked myself why the hell we all trade without stop loss? Answer from most of the traders is because broker hunt your stop loss, ok...but i found out two different answers.. (keep on reading)
1. Because with stop loss most of the traders would consistently losing money
2. If broker hunt your stop loss and you don't have stop loss, what broker hunt then? And guys sorry to say that but answer is MARGIN CALL.

Stop loss should be your friend, once our stop loss got hit we should be happy that we successfuly proteted our account from greater risk then allowed...Not using stop loss is just an excuse..It is hard to admit that, with using stop loss we would not make money with our systems...

You know when next crisis or extreme move, natural disaster, any sort of attacks, war will come? EXPECT THE UNEXPECTED
When CHF jumped in january, If i know right if you had stop loss you got some money back, but if you didnt have it you got nothing....be prepared!

After that i realized that i don't want to call myself a trader, i want to call myself and be RISK MANAGER and use stop loss 100% and have positive risk : reward ratio...I knew that everything on the begining, but i was so blindly fooled by high win ratio and quick profits heeeh...Trading system without stop loss is like a really good friend who will stab you someday in your back...Maybe tomorow or maybe in next few months/years..You don't know when, but you know it will, for sure at some point of time. Would you hang out with such a friend? I would not!

And guys every serious investor/trader know that the first thing at trading is proper risk management...
Trading system without stop loss looks very interesting for retail investors, because they want to end each month in profit no matter risk/drawdown...no sense
Trading system with stop loss looks very interesting for proffesional investors, because pros know that it is better to have few controled negative months in a year then exposing their capital to uncontroled risk..

And the answer why 90% of people fail in trading is because they are not prepared to accept controled loss consistently...Losing is not fun part but it is crucial in trading. Trade is a trade, no matter win or loss!
Deal with loses, cut them! There will be another opportunity soon!

My name, FX Protector was created with reason to really protect money from everyone and trading system without stop loss is not the solution...I am currently developing day trading system with solid risk : reward ratio, fixed stop loss and take profit, proper risk,money and trade management. And behind that i will also run EA with max DD in case of some sort of issues.. So stop loss + EA...this is what i can call the protection!

I will still trade my system without stop loss but probably only for personal accounts because you guys do not deserve to feel the pain of drawdowns...I am here to protect the money, not to lose it!
When system with SL will be avalible to you? I don't know, will keep you updated!


Please have in mind that this is my personal point of view and may not be suitable for some of you!
I just want to share it with you because i think it might help you to see the whole situation from different point of view/angle...

Regards
FX Protector

[fxtrader1234]

This strategy is different than your past 4 months with history of myfx. Why change what isn't broken?

[FX Protector]

Currently i do not have fixed SL and TP and i don't like that ! I have only EA protection at 10% DD. I trade only with fixed lots since the begining so no worries about martingale or anything!

Risk on master will be reduced...Because of low frequency of my trades i probably won't be able to go with 1x risk (0.01 lot per 1000$) but i will probably pick 2x risk for a master (0.02 per 1000$)... So if my math is not wrong 0.01 x 40 pips = 0.4% so if i would pick 2x risk on master this would be 0.8% for 40 pip stop loss and 5 pips is 0.1% gain. I make around 30 trades per month on average so for minor loss i could lose 3 trades for breakeven.

Ratio betwen 5 TP and 40 SL is 1 : 8 which means i need to have at least 80% win ratio for breakeven. So for 1 losing trade i have to make 8 trades to recover (9 in reality). For now win ratio is 97% with this trade management so defenitely i am trading with the statistic. Such a negative risk reward is not the best but anyway it is better to get controled loss then wait and hope for trade to come back if it goes against us...For maximum open trades at once i was thinking about 3 - 5. So maximum exposure will be always known and not exceeded. I think that there will be also a month or two per year with minor loss at the end but this is part of trading, we will see. I also think that there will be months without lossing trade!

Recovery from 1 losing trade is around one good week. If markets is bad it might takes longer. But my job is to trade best setups and not to force recovery of losing trade and make worst decisions.
Recovery from worst case scenario depense on maximum open positions at once. But lets say if i hit SL with 3 trades (120 pips). And i make on average 30 trades per month this is 150 pips.. Recovery should be around one month if this month has 100% win...but this is just a theory..

My strategy is about to find good structures on mid/high timeframes and enter it from low/mid timeframes and pick just few pips. It is counter trend strategy. Something like Viper but probably with whole different approach.
The reason why am currently trading with 10x risk (0.1 per 1000$) is to show to the community that even with this kind of higher risk i can keep drawdown quiet low. Also % of gain is not propotional each month because i was trading with fixed lot all the time (but balance was increasing) just to practice.

Sorry if anyone is confused right now, but you will get all final and tested decisions before signal will be lunched so do not worry!