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  • Post #61
  • Quote
  • Edited 11:26am Apr 11, 2012 11:14am | Edited 11:26am
In The UK at the moment the kids are on school holidays, what normally is a quiet environment turns into something resembling a hurricane........................."Bless emm"

OK, the form this week ( no laughing )................

My 2 year old fell of the dinning room chair yesterday, he has something that resembles an egg sticking out of his forehead, and a black eye,

My middle one (7) is having nightmares, after a debate with my wife, I said he could watch a PG movie....


My eldest (13) has had a bad bike accident at a skate park, he has broken his hand, has some bad sores and his lips look like he has had some SERIOUS Botox work done to them, he's OK though (just).


My wife being at breaking point, decides to meet some girl friends last night at a pub ( for some R & R of course ). Upon return last night she has postioned the Volvo estate into our porch, Waking up our sleepy road in the event, she promises me she only had 1 glass of wine.................




Roll on the summer holidays...........................................


Ja.
Memories caught in time but never forgotten
Quoting LasVahGoose
Where is this thread going? Seems to be off course.
My first question is: What is your definition of system?

Mind would be:
System defined as your trading method, money management, and your rules.

OR are you meaning you'd like to make your discretionary method more mechanical?

One of the ways to make your entry more mechanical would be to break the entry down into it's parts. Your 'setup' and then your 'trigger'. MM can be mechanical by using something like %R. 2% on the trade, figure out the stop, calculate the size....
That's the one, in the bold . It's pretty mechanical now from the entry to the money management to the exit. But there's always an element of discretion that I think you simply can't eliminate (seeing as I trade from naked charts pretty much).
Time hides Nothing
  • Post #63
  • Quote
  • Edited 7:53pm Apr 11, 2012 7:07pm | Edited 7:53pm
Quoting j4d
Hey Cindy,

Would you say then your initial exposure would be 1%, then scaling in with say 0.25%-0.50% type sizes, or larger ?, what would be your total exposure, or would that be determined by what you would be comfortable with in the trade enviroment..............

Do you ever get the feeling of ships passing in the night......................

Ja.
When I say scaling what I really mean is adding to the original trade. So I start at 1% with a 60 pip SL for example, then say I get a 30 pip profit and am satisfied that the trade is going my way will bring the 60 pip SL to the opening price and open a second trade of what might now might be an extra 3 lots (total risk still 1%) and so on and so forth. Just depends on the market at the time and where I can safely trail my SL.

The lots sizes start small at say 1 lot, then I'll add 2, then maybe two again, then 3, then 5. I don't actually do this intentionally, it just seems to work out that way as the market gathers momentum and I can get away with smaller and smaller stops. But I'll never have more than 1% on any one trade at risk.

What this means is I can build up to the same LOT size as if I took a 5% risk but the actual % risk always stays at 1%.

Mind power isn't needed when you can simply accept the fact that you have to spend money to make money.
Time hides Nothing
  • Post #64
  • Quote
  • Edited 7:50pm Apr 11, 2012 7:20pm | Edited 7:50pm
Quoting hayseed
//---

hey miss p..... this is very true.... something which can be verified watching real accounts at ibfx connect.... a sub 500$ account is usually at the top of the % list....

hmmm, your chart big vs small shows 1:50 leverage.... ha..... kinda dispells the gotta-have-big-leverage myth doesn't it......

you trade far larger lots than me, so this would be for the others readin this...... one way to pysch up into larger lots is to base them on account balance...... this way lots slowly millimeter up..... or down...... hardly noticeable.........
haha

Africa (Continent)
Antarctica (Continent)
Australia
America
Abkhazia
Albania
Algeria
Andorr
Angola
Antigua
Argentina
Anguilla
Armenia
Aruba
Austria

What's with that...?

Agree about the big account size... In Finance higher risk is meant to be rewarded by higher potential rewards and of course risking 5% can bring you bigger potential profits than risking 1%.

But the funny thing is that it seems to work the opposite way, where people risking 5% get in their own way by taking 30 pip profits instead of 100 -200 pip profits and adding. They see the big Dollar figure at 30 pips and suddenly start trading their equity curve instead of the market. I spent a long time in that camp.

People risking just a small amount are able to actually free themselves of this burden and simply focus on trading correctly. In the long run provided they have an edge they can actually exploit it for positive results. People trading emotionally with big risk are beaten before they begin and the very reasons they elected a big risk to begin with (bigger rewards) simply work against them (or they work against themselves), the end result being bigger losses.

It's actually very interesting. Reminds me of the Tortoise and the Hare.
Time hides Nothing
Quoting j4d
I have been asked by friends and some colleagues if they can invest some money, indeed my mother is interested, As you know interest rates aren't so favourable for people retired living off there savings. I know, I know friends and family investing, it could turn out awkward, everyone involved though understands risk and all I have promised is I wont lose more than 20% of there investment. Now this brings us back to "comfort size" ( I promise I'm not starting to get x-rated..lol), How will I...
Mmmmm, not something I've done or contemplated. But if they understand the risk, then that's a good start. I have seen a few threads over the years about this subject on the forum. From memory, it didn't seem to be something that people recommended doing. In fact, I'm sure someone compared trading family money to how you shouldn't live/flat with your friends. I've lived with friends in my flatting days though and it wasn't all bad so, once again, like so many things in life, I guess it all comes down to the person.

Thanks for the tip about the high/low risk account. I've sort of tried to do that. I'm with Oanda and you can create up to 9 (I think) sub-accounts so I have several accounts with varying amounts of money and I tried to trade them with different risk profiles and trading timelines (short, medium, long term). Anyway, it was a bit of a failure so we won't go into that ... lol
Nothing worth having is easy.
Quoting hayseed
such as.....

Inserted Code
 
   double suggestlots = NormalizeDouble((AccountBalance()*0.01)/(MarketInfo(Symbol(),MODE_TICKVALUE)*dayatr),2);
Hayseed ... what is that? I thought you knew I wasn't good with formulas, statistics and numbers ... doh, doh, doh. That's Metatrader speak anyway and, believe it or not, I still haven't traded live on a Metatrader platform.

Hey, nice results on that account! Just over 50 days for that return. You are a smart man. And what a little cutie. I'm going to go out on a limb here and assume that is your grand-daughter And please don't go cussing me if I've assumed incorrectly ... lol
Nothing worth having is easy.
Quoting hayseed
//---

in any event, all us little women need to stick together......h
lol... I thought... never mind. I didn't even notice that link, my i phone doesn't bring it up for some reason. nice results
Time hides Nothing
  • Post #68
  • Quote
  • Edited 3:26am Apr 12, 2012 2:32am | Edited 3:26am
Quoting CindyXXXX

Mind power isn't needed when you can simply accept the fact that you have to spend money to make money.
I should have added that means paper profits as well... The goal is to take any ceilings off profits and always respect your floor. The trick is to load the boat before the breakout... not after.

Example...

I'm in an Aussie long now since yesterday... I entered (high it would seem) first position at 10285 with a massive SL below the low of the week..

Entered a second position at 10303

and a third today at 10355

Now... As it stands I have only 4 lots on but I've looked in a 4:1 profit and now it's just wait and see time. I have targets on all positions of 108...

This move was based off momentum from a strong weekly trend line, so as the Orders I'm trading off are daily the mindset is much longer term so stretched a bunch of small orders over a 100 pip rally, with the mindset that as its a weekly kind of strength that I'm looking for a very big (pip wise) move north. But I need to leave enough room for retracements from intraday sellers.

This is all a technical move I've taken from charts alone. I haven't looked at the news in weeks, just don't have the time at the moment...

But now it's broken into my "profit zone" (the space above 10355) It's just lock in current trade and start the whole process again. So when it starts consolidating again I will start buying into another position if I think it's going to continue up and my current trade has a locked in profit. If the new trade works then I will marry the two and lock in an overall profit and start a 3rd... etc etc... Snowballing.

In order to trade consistently I need to accept the fact that I can't catch tops and bottoms and even if I'm up $1000 in order to let that trade run to $2000 I need to accept the fact that I may have to accept a $600 profit form my "woulda sholda coulda" $1000 trade (if things don't work out) so if things DO work out I have the potential ALWAYS to double whatever I have now.. IF things don't then I at least still make a nice 3:! 5:! maybe 10:1 profit... Just gotta roll with it and do your best to forget the paper money and at the same time accept your risk. Pay to play.

On top of that Picture a pie graph displaying a 20:1 profit in blue and a 1% risk in red... Think about it long enough and you will understand why going to break even is a ridiculous concept (unless of course you have good reason to do so MARKET wise (not because your scared to have any money at risk).

EDIT: so I won't add to this trade until either it 1) shoots to the top of that green zone, or 2) makes new swing highs on the H4 and continues... (H4 not because it's H4 but because a swing high on the 4 hour time frame is likely to have enough orders behind it to influence my trade. I try not to think patterns and time frames but ORDERS and TIME

Savvy?

EDIT 2: if you look at those other trend lines on the H4 chart below, they were much FASTER versions of the above... i.e the boat was loaded in a 40 pip zone rather than a 100 pip zone with a 200 pip move in mind...

Keep in mind this is the system I've developed around 4 years of trading experience and it's still only a month or two old, but I'm having a ball right now trading it. I haven't mentioned WHY I entered long in the first place and this is probably the key, the money management side that I've just tried to explain allows me to trade without fear or emotion and in a consistent way. But anyway, just wanted to share a bit about what I'm doing maybe spark some ideas.

I really don't like the idea of giving away the actual EDGE to a bunch of public hoodlums... If I could make this thread private I'd be happy to share it with anyone on my vouch list but it's just that the walls have eyes and the walls can git fked lol
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Time hides Nothing
Hey Cindy

That is a very interesting concept you have on your open trade plan,
Food for thought, I really like that you only ever have 1% exposed, but are continually at the cash-point......thanks for sharing, you sound like your well in your comfort Zone, which I think is Key .

Makes my simple style look...............well..............simple................ LoL, that's just how I like it though.

I very much agree with taking bias/signals of the larger TF's ( look for mass area's of confluence,) and enter off the 4h.....the big orders/order flow are parked in these area's.. I like the closes ....... : )

That's how I like to play anyway....


But the funny thing is that it seems to work the opposite way, where people risking 5% get in their own way by taking 30 pip profits instead of 100 -200 pip profits and adding. They see the big Dollar figure at 30 pips and suddenly start trading their equity curve instead of the market. I spent a long time in that camp.

People risking just a small amount are able to actually free themselves of this burden and simply focus on trading correctly. In the long run provided they have an edge they can actually exploit it for positive results. People trading emotionally with big risk are beaten before they begin and the very reasons they elected a big risk to begin with (bigger rewards) simply work against them (or they work against themselves), the end result being bigger losses.

I agree.................totally.

Ja.
Memories caught in time but never forgotten
Quoting Patience
I'm with Oanda and you can create up to 9 (I think) sub-accounts so I have several accounts with varying amounts of money and I tried to trade them with different risk profiles and trading timelines (short, medium, long term). Anyway, it was a bit of a failure so we won't go into that ... lol
Hey Patience,

I don't know if its bullshit, but it comes from a reliable source that MT4 brokers can only handle accounts up-to £250,000 ?.

Above this size, a PAMM account with Oanda or Dukascopy (ECN) is what I have been recommended Should I go down the OPM route..

Oanda Comments would be good..........

Ja.
Memories caught in time but never forgotten
Hey Cindy,

Nice move off the Aussy....
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Memories caught in time but never forgotten
Quoting j4d
Hey Cindy,

Nice move off the Aussy....
yaaaaaaaaaa......... stopped out at 6:1 (6%)... missed this last up leg... looked like it was running outta steam, brought my stops up and bam, taken out on that 12:00 GMT bear bar... Being Thursday was quite keen to lock in a nice profit for the week. May live to regret that though. live n learn... live n learn...

This is the first long term level I've traded my system off (being the weekly trend line)... Should have given it more room, we'll see. Can't complain, might just wait to see how the sellers respond and re enter next week.

Cheers
Time hides Nothing
Quoting j4d
Hey Patience,

I don't know if its bullshit, but it comes from a reliable source that MT4 brokers can only handle accounts up-to £250,000 ?.

Above this size, a PAMM account with Oanda or Dukascopy (ECN) is what I have been recommended Should I go down the OPM route..

Oanda Comments would be good..........

Ja.
Oh, I'm not aware of that restriction. Oanda doesn't appear to have that restriction.

Oanda has MT4 now and I opened an MT4 account but the account can also be traded on the FX Trade platform and I prefer to use that because I find the execution fast or at least it suits me. I have no experience of Oanda's PAMM as I wanted to keep my accounts separate so my trades wouldn't be lumped across the board (if that makes sense). I'm not too great at timing the market so it goes something like this. Enter a trade in one account, market continues to go down, enter another trade in another account. Oanda has the FIFO rule now but I haven't had problems with it yet because all my trades are in separate accounts. I don't know if I'm making sense here because the girls have worn me out.

I did demo Dukascopy's platform and I liked it. Been meaning to open an account with them. Just haven't got around to it because they needed a solicitor to sign for proof of identity (or something). Anyway, it isn't as easy to open as account with Dukascopy as it is with other brokers. Not sure if that is still the case.

Time to feed the masses.
Nothing worth having is easy.
  • Post #74
  • Quote
  • Edited 3:42pm Apr 12, 2012 2:20pm | Edited 3:42pm
Quoting Patience
Oh, I'm not aware of that restriction. Oanda doesn't appear to have that restriction.

Oanda has MT4 now and I opened an MT4 account but the account can also be traded on the FX Trade platform and I prefer to use that because I find the execution fast or at least it suits me. I have no experience of Oanda's PAMM as I wanted to keep my accounts separate so my trades wouldn't be lumped across the board (if that makes sense). I'm not too great at timing the market so it goes something like this. Enter a trade in one account, market continues to...

Sorry Patience, I Might have worded it incorrectly....... Mt4 brokers will take more than £250,000...I just dont know whether the mechanics of the broker can handle/execute proficiently with that size account ??

Only what I've heard, no doubt someone will correct this..........

I don't know if I'm making sense here because the girls have worn me out.

LOL....Dont You just luv em.........

Ja.
Memories caught in time but never forgotten
Quoting CindyXXXX
Keep in mind this is the system I've developed around 4 years of trading experience and it's still only a month or two old, but I'm having a ball right now trading it. I haven't mentioned WHY I entered long in the first place and this is probably the key, the money management side that I've just tried to explain allows me to trade without fear or emotion and in a consistent way. But anyway, just wanted to share a bit about what I'm doing maybe spark some ideas.
Forgot to say that I'm gonna have to read this again when I have my trading head on but thanks for sharing. I think I've said before that some things take some time to sink in with me.
Nothing worth having is easy.
Quoting j4d
Sorry Patience, I Might have worded it incorrectly....... Mt4 brokers will take more than £250,000...I just dont know whether the mechanics of the broker can handle/execute proficiently with that size account ??

Only what I've heard, no doubt someone will correct this..........
Oh, okay. No, not something I know about. I'm assuming you are talking about the opening of larger position sizes? I think I'm more risk averse than you Forgot to say that with Oanda it has maximum leverage of 1:50 (and you can't hedge with Oanda) and although Dukascopy is 1:100, it reduces to 1:30 on the weekend. Not sure who you trade with in the UK but I imagine it's at least 1:100. Oh, yeah, Oanda now has a presence in the UK now but you probably know that. I'm still with the Canadian branch.

Well, hopefully someone else can clear your query up.

Quoting j4d
LOL....Dont You just luv em.........
They fight, like sisters. Not that I had a sister but I used to fight with my brothers (WWWF style). Gets on my nerves. I don't ever remember fighting with my friends. My mother confirmed that I didn't. So I find it a little strange.
Nothing worth having is easy.
Quoting Patience
They fight, like sisters. Not that I had a sister but I used to fight with my brothers (WWWF style). Gets on my nerves. I don't ever remember fighting with my friends. My mother confirmed that I didn't. So I find it a little strange.
Hey Patience,

My wife is a professional "nanny", at times I have been in my office and had to lock the door for fear of what was going on the other side in the house.....scared shtless...

Over the years we've had all sort's, brothers, sisters, brothers and sisters.........one thing in common, they all have fighting/bad days..

61 in this thread is what's happened to us this week................ : (

Ja.
Memories caught in time but never forgotten
Quoting j4d
Hey Patience,

My wife is a professional "nanny", at times I have been in my office and had to lock the door for fear of what was going on the other side in the house.....scared shtless...

Over the years we've had all sort's, brothers, sisters, brothers and sisters.........one thing in common, they all have fighting/bad days..

61 in this thread is what's happened to us this week................ : (

Ja.
hahaha ... way to go Ja ...

I wouldn't mind it so much if it was one good day and then one bad day but it's constant bickering approximately every 15 minutes. Thank gawd it's not physical. My daughter is very affectionate and wants to give her friend a hug now and again. Her friend doesn't like to be hugged so they argue about that! And on it goes ....

Anyway, I can see Cindy's eyes glazing over. My eyes used to glaze over when my friends used to talk about their kids. Make the most of it Cindy. When the little one(s) come along, it's a whole different ball game. Make sure you get a strong woman to carry out all that discipline so you can hide in your office and bury yourself in your charts
Nothing worth having is easy.
  • Post #79
  • Quote
  • Edited 10:37am Apr 13, 2012 10:18am | Edited 10:37am
Quoting Patience
Make sure you get a strong woman to carry out all that discipline so you can hide in your office and bury yourself in your charts
Cindy take note.........Patience is the oracle....


Without a doubt, my specialist subject is hide n seek in the office......

Inserted Video
Memories caught in time but never forgotten
Quoting CindyXXXX
It's actually very interesting. Reminds me of the Tortoise and the Hare.
that's it exactly..... i have a couple 30 ton dozers.... they are quite heavy..... but i can lift'em with the hydraulics of a single bottle jack.....

slow deliberate incremental changes can lift dozers or account balances equally......

//---
//---

hey miss p...... yes, that is one of 3...... figured if i put 1000 in an account for each, by the time they were old enough to drive there might be enough to buy'em a truck......

but have no fear........ just in case those accounts crash, as a back up plan, i'm currently high bidder on 3 bikes on ebay......h
to trade and code, keep both simple... no call to impress....h
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