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  #72127  
Old Aug 18, 2010 9:41pm
joelcf's Avatar
My gun control is a steady hand.
 
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Originally Posted by The Lord View Post
Somebody please show me my mistake with this.
Easy.

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Originally Posted by The Lord View Post
I couldn't move to break even since it was too early (not much pips).
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  #72750  
Old Aug 25, 2010 4:07am
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My gun control is a steady hand.
 
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Originally Posted by Adilius07 View Post
Another thought crossed my mind today. If we learn to be SUPER PICKY. I mean like picky to the point we only take just one setup per month or so. The one that meets all our criteria.... then, why don't we trade say 5-7% of total account? Even if RR is 1:1 or little less, that trade would make a very, very nice monthly % growth. And knowing all we need is just 1 trade, it is easier to become and stay picky...

I mean, when we have a MM of 1% or 2% isn't it puts us into more pressure to trade more, so we can make "better income" and...
Basically, trading "5-7%" means you can go broke even on A+++!@%^&* (or whatever the current nomenclature is) trades, because - as we know - trades fail. Even perfect ones.

As your trade size (as a % of account) increases, your variance increases exponentially* - and you risk bankrupting (although 'crippling' is possibly a better term, since most people will quit before account=0)your account due to the variance inherent in your trading methodology.

The whole point of the '2% rule' is to reduce your risk of ruin % to a negligible figure (assuming a +ev trading strategy, and based on a pretty normal standard deviation in results), not to help you lose less on dodgy trades.

*ceteris paribus

Quote:
Originally Posted by Adilius07 View Post
Thanks Ghous for the input. Is just I really feel this "the need to be in" sometimes. Thinking on the best ways to fight it. Defenitely sticking do Daily frame as a minimum helps!
Buy a playstation and/or girlfriend.
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  #72872  
Old Aug 26, 2010 3:05am
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My gun control is a steady hand.
 
Member Since Jun 2009
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Originally Posted by pipmyride View Post
lol wouldnt u at least attempt to read 1 or 2 pages of the thread first ??
How dare you suggest that people take responsibility for their own trading. Cant the internets just tell me how to make money with only 3 minutes investment of my own time?!
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  #72988  
Old Aug 26, 2010 8:21pm
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My gun control is a steady hand.
 
Member Since Jun 2009
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Quote:
Originally Posted by Adilius07 View Post
The thing what I noticed is that on Daily it is rather impossible to have a conservative and tight SL like this. The conservative stop (behind PB) will be 100+ pips (if we take good big bar) and your FTA usually will be much much closer... that all brings us back to being more picky. But sometimes what we think are A+ would fail too, so the best would be to have RR positive... IMHO

EDIT: Positive RR is only either letting trade go, or thinking the ways to make SL smaller.... I think
Positive RR is meaningless.
Positive EV is not.

Unless you are taking coinflips, there is no reason to have a 1:1 requirement. And if you are taking coinflips, then you should be reading more of Mike or Jaroo's posts.

Quote:
Originally Posted by mihazupan1 View Post
Could you please write a bit more about trailing stop? I suppose you use it frequently. How big should a trailing stop be (in pips)? When to use it?
When I use a trail, it will usually be based on swings, trouble areas or ATR. An arbitary number of pips is counterproductive, imho.
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  #73005  
Old Aug 27, 2010 3:12am
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My gun control is a steady hand.
 
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Originally Posted by anderou View Post
Hi
In my view these setups will remain forever usefull. You will always have newbies not understanding the patterns correctly and not realising that it's not about the pattern so much but about where the pattern occurs (Someone said it earlier, can't remember who). These newbies will lose the majority of their positions
Newbie traders with $200 Oanda accounts arent moving fx markets. Just sayin.

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Originally Posted by anderou View Post
And at the end of the day we shouldn't worry about that which we cannot change..
Exactly. Well said.
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  #73020  
Old Aug 27, 2010 4:34am
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My gun control is a steady hand.
 
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Originally Posted by jarroo View Post
Thanks to you, I got basically no work done this week
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  #73249  
Old Aug 30, 2010 1:38am
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My gun control is a steady hand.
 
Member Since Jun 2009
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Quote:
Originally Posted by bug View Post
I've been keeping an eye on the 10 and 30 year for a few weeks now (ever since the talk about QE2 began) and what do you know, we have something quite interesting going on on the weeklies and dailies.
Stay with them. IR futures are my absolute favourite things to trade - they move smoothly and predictably, and there are so many things you can do with them aside from straight vanilla trading. If I had to pick one instrument for someone new dropping down timeframes, it would be the ZTs or ZFs.

Dont touch the 30s much for just PA trading, but the 2s and 10s are my friends.

Quote:
Originally Posted by supremeChaos View Post
i believe ongoing full recovery.
Good to see you back, buddy


*edit* sorry to the couple of people I havent PMd back, moving house and so therefore largely internetless.
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  #73418  
Old Aug 31, 2010 7:35am
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My gun control is a steady hand.
 
Member Since Jun 2009
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Quote:
Originally Posted by supremeChaos View Post
(bigger bars = more demand or supply = momentum)
not necessarily

Big bars are a sign of a volume imbalance, but they dont really tell us about the magnitude of said imbalance. You could have sellers for 5m lots one one side and buy orders for 5,000,001 on the other side of the spread, giving you a small bar... or you could have someone trying to sell 2 contracts with only one buyer every 500 pips.
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Last edited by joelcf, Aug 31, 2010 7:38am Reason: ergonomic keyboards are f!@#$ useless.
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