Screenshot of the live trade...
Update@ 11:44 EU Time
- have to do some work in my company, so I put my S/L slightly above B/E @2758 and my TGT is at 2780
After the earnings profit, I'l go with a new RiskReversal trade.
I sell calls to finance the puts.
Because I expect price down at the Centerline, I choose my +Puts in between.
See the performance graph below how this trade will profit.
A nice add-on is the additional time decay of the calls if
a) price moves slowly up (...so against my sold calls)
b) price moves away from the calls
c) price moves sideways
If price can't reach the Centerline in about 75% of the expected time, then I'l close the position on a smaller profit. So, we have the chance to win a good profit if price moves down fast, or to close the position on a smaller profit.
The only negative point is, when price moves up very quick.
Then I would sell the position according to the price-action & Fork rules.
The performance graph shows you how the PNL approx. will be according to the price change.
Trade Closed In Good Profit
Hello Forkers & Non-Forkers
Since my last post about the new membership levels, there are several questions coming up, which is great.
Here is a Q&A I put together. If you have anything else to ask, don't hesitate and send me your email.
Q: How sure can I be that I will make money with the trading signals?
A: Zero, nada, njet. The signals are for you to have trade ideas. I can't guaranty anything. Who am I to give guaranties, if not even Banks can ;-)
Q: Are the Mentoring Sessions really weekly?
A: Yes, these new Mentoring Session will be held weekly on Wednesday.
Q: Will you increase price every year?
A: No. It's not planned. If I provide more value and/or have raising costs, then I'l probably have to. Expect the 2019 pricing to be the same as this year.
Q: If I subscribe, and I'm not happy with what I get, do you refund?
A: No. You have plenty of information about my work on the portal and on TradingView.com. What I do is real and you can go back on TradingView.com or in the archived Blog anytime and prove for yourself that my posts are made before the markets move. It's not about forecasting, it's about knowledge and following rules.
I can't guaranty that you like my new work, or the material I will produce in the future. What I will guaranty is, that I always give my best (...not talking about how many times I have deleted a Video and restarted from scratch). Listen, live is never perfect all the time. Maybe for moments, but the other times we just have to deal with what we have. But if you don't like my work, then please give me constructive criticisms, so I know it and I can correct it and do better in the future.
Q: Don't you just want to make money with our subscription?
A: No, I give it all to the Sally Army §8-))
Hey, of course I would like to get payed for my work. Why shouldn't I? If you do any work, wouldn't you wanna get payed too? Most of the time this question stems from your own experience with scammers. They knew how to trigger your mental button to pay for something that is just wishful thinking (...make 10K in just a view days with this setup...and alike). So you don't trust anybody anymore, but you are on the lookout for a system or setup, that will make you money. So, I can't and I will never promise that my strategies and setups will work for you. But what I can assure you is, that all the strategies and setups are taught in a way, that you can test them by yourself, and I use them on my one.
Q: Do you stop ForkTrading.com if you cannot build a critical mass of subscribers?
A: No, there are no thoughts about this in my brain. I have built up several businesses from scratch, and I even own one now. I'm aware that it takes time and effort, to build up reputation and clients. So in the next 3-5 years, I have planned to continue ForkTrading.com and to bring it forward.
Q: Do you accept Bitcoin?
A: Yes! I believe not only in Bitcoin but more important in the Blockchain. The Crypto-Currencies are just a "Function", an App of the Blockchain. This time the egg was existent before the Chicken - Not technically, but in the viewpoint of the user. The Blockchain is a game changer in our economy. It involves both, good and bad. But it will not disappear anymore. We have to live with the Blockchain and we have to adapt our live. But don't worry, the Banks and other "Institutions" have to rethink their business model too ;-)
Q: What can I expect from ForkTrading.com in the future?
A: I have several ideas/visions in mind. How about a live trading room? How about a 100% free FTG, financed by Crowdfunding and/or advertising? How about a Bootcamp in Switzerland? If you have any ideas on your one, just put them on the table. Let's be a real group and make ForkTrading.com a valuable source for every trader, delivering REAL value. A house to live in is built on many people, and many parts. Let's build that house together, let's profit together.
If you have other questions, then send them by email, thanks.
I want to say a last thing:
About 2 years ago, I said to many of you (also to traders of TradingView), I will produce a free ForkTrading BLUEPRINT course.
I did it.
About 1 year ago I said, I will build a group.
I did it.
And lastly I said, I will create more course and study material.
I did it.
The only promise I still work on to fulfil is, writing a Book about my hole trading style. I have not forgotten it, but it doesn't have the same priority as the ForkTrading Group.
I deeply appreciate and thank you all for your time and trust.
Have a happy day
Until the end of this month, the W.O. will be still posted in the archived section of the Group Mentoring.
Thank you Steve for this question and I hope your "Swiss Clock" will tick perfectly again ;-)
Update - Out@B/E since no progress in this pair.
If the markets don't make any progress. you have to overthink your position.
Because your money needs to work. So I close it and put my money to work in another position.
Who of my students will step up and describe this chart?
You can add anything you want to it.
And yes, I'm long this market ;-)
Update - Stop/Loss & Out.
The yellow Fork describes the current most probable path of price. Forks are great, indeed. And adding details to the chart is like seasoning a sauce.
So here we have our ingredients.
See the up-sloping red lines? Know what's their job? Well, they describe the amplitude of the sine-wave within this down-swinging market.
The last one...watch the last one...looks like something disturbs the harmony. Something going on?...change ahead?
We dunno...and we don't have to know!
Because as a Forker you just follow your set of rules. So is it worthless marking out these details?
You really should pay attention to them. Make notes about your observations every time you see something new or interesting. In the long run, this is one edge more you have, a new side-rule for example which can act as a filter, an entry signal or a warning sign.
So, pay attention to these details use these observations as a takeaway from your chart work, even if you don't get a trade right now.
Please leave me a comment if you like and of course I'm glad to answer your questions.