DislikedHi Baifu
Interesting, i just also study this...
When you rescue, u use very big troops... Isnt it too much risk?
Now my question is, if it is good to make some booked profits from lower levels before trigger bigger balls... to reduce risk from bigger positions.
Because when u win first three levels consecutively, u have good base (your profits are booked and the risk was low), for triggering bigger balls and when these "biggers" wont succed with the same risk parametres like what you have grabbed with those "low levels"... You are still...Ignored
FTI and veterans' advice to new students is work with 1,1,2 and build up competence. However, when I do my demo training I find it is easier to feel the market with multiple positions, that's why I sometimes split the scout into it's own micro spiral, spies I call them.
My basic MO is ride with 1, at most 2 troops. The first attack, 2, will be withdrawn with profit as soon as momentum wanes, or at first sign of danger. It is not meant to ride a retrace. However, I often mistimed and the first attack is stuck, then at the next thrust and retreat I will attack with 3, then 5. I reckon most reactive waves will not have more than 3 thrusts (waves must overlap, or they are not reactive), the last 8 will only be entered on stronger evidence of reject from S&R, such as LH/HL etc. This is the theory but I often erred (have gone to 13, 21, 34 ), so still thinking and practising to recognize as many adverse conditions and drill for internalized responses. I have a lot of work ahead.
I was engaged in a 3 day rescue from Feb 1-3, ending with 1% profit to the book. This is unacceptable for a real money account as overnight positions are not acceptable, so I have to improve my responses. For the rest of the last 2 weeks I was in rescue situations quite a few sessions but always squared with +ve % for the day, again this might not be the case as soon as real money is involved.
My rescue is always zooming in to a smaller time frame to scalp and airlift the least wounded troops, reducing exposure gradually. As I said in the last post I do not have the troop reserve to zoom out to a larger time frame rescue. I would rather cut and take a loss - for me it is about winning the war, not winning every battle.
I started an Euro 10K demo 14 trading days ago and the acct is up 18%, averaging a little over 1% a day. What I said in the last post about 1-3% a day is possible is not always based on 100 troops, I have been experimenting between 50-500 troops. When I go over to real money account I will start initially with 1000 troops to warm up, then work up to 100 troops.
We will learn together, here's best of luck to you and me